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NiceHash Bitcoin Mining Tutorial: 100 TH/S for 100,- €

June 27, 2019 / Uncategorized / Leave a comment

Renting hash power is becoming more and bitcoin (https://bitscreener.com) more popular. Providers like NiceHash allow you to enter the Bitcoin mining world without buying your own hardware. So it is possible to run a relatively low hash power over days, if not weeks, or to fulfill the dream of owning a Petahash farm for a short time.

Especially in German-speaking countries, various group purchases by users of the bitcointalk.org forum have aroused great interest in this kind of Bitcoin mining. In several rounds, numerous users of the forum joined together, merged their Bitcoins and were able to rent an almost unattainable hash power for the individual. In one of the first runs several blocks were found and dozens of bitcoins could be distributed among the participants. This has certainly contributed to the further popularity and joy of playing.

The following tutorial shows how to rent with NiceHash Miningpower and how to execute this order. Of course you will also have a look at the result.

And off we go:

Stake: 100,- € (0,25 BTC)

My desired service: 100 TH/S

Update: 01.06.2016

At the beginning of June the price display was changed to Nicehash. Now the prices will no longer be shown in TH (Terrahash), but in PH (Petahash). One PH is 1000 TH. If someone wants to compare the current prices on Nicehash, he must divide the prices there by 1000 or multiply the prices here in the blog by 1000.

Example: 2,8 BTC/PH/DAY (new) = 0,0028 BTC/TH/DAY (old)

Tutorial

Step 1 – Create new account

As a tenant you first have to create an account with NiceHash. This works, as usual with other websites, via a two-step process. First you have to enter your e-mail address and then the password is entered via an activation link.

Query the e-mail address and enter a captcha to prevent booting:

NiceHash bitcoin guide, https://Zolmax.com, Mining Tutorial

After that you get a message that you should check your mailbox to click the activation link:

NiceHash Bitcoin Mining Tutorial

Now open your mailbox and click on the given link:

NiceHash Bitcoin Mining Tutorial

… sets his individual password …

NiceHash Bitcoin Mining Tutorial… and then logs in with email and password:

NiceHash Bitcoin Mining Tutorial

After the login you are first killed with two tables with several columns. But everything is half as wild! What you see here are the orders of other NiceHash tenants. First of all it is important to change to the desired algorithm.

After logging in, “Scrypt” is always preselected (top right):

NiceHash Bitcoin Mining Tutorial

But I want to mine Bitcoins, so I first switch to the Bitcoin hashing algorithm “SHA256”:

NiceHash Bitcoin Mining Tutorial

What do the respective columns in this view mean?

First, there are two large columns: “Europe – NiceHash” and “USA – WestHash”. These are two separate marketplaces. So you can rent European and American hash power, so to speak. Both work in the same way, but each has its own miner, its own active mining-order and its own order from other buyers.

Which marketplace do I choose?

This depends on the project. More information about the exact local distribution can be found on the NiceHash website. Roughly speaking, the miner I want to rent should be in the same region as the pool I want to mine on. The idea behind this is that you don’t even send the shares calculated by the hardware around the globe, but have the shortest possible “Internet paths”.

In this tutorial I want to mine on the German solo mining pool of -ck (Bitcoinforum Link). Therefore I choose the left column, i.e. “Europe – NiceHash”. So my rented hardware will be somewhere in Europe.

The other columns:

Order: F or S stand for Standard or Fixed, then the order numbers of the other users marked with a # will be displayed.

Price: Shows the price for a TH/S in BTC for one day.

Limited: With this limit you can limit the TH/S number. So I can stretch my order duration accordingly. Minimum is 5 TH/S.

Speed: This is the mining power that is currently to be provided for this order.

To rent my hash power, I need Bitcoins in my NiceHash account. This is described in step 2:

Tutorial Step 2 – Deposit Bitcoins

In the Account area, the Wallet system of NiceHash first creates an address for me:

NiceHash Bitcoin Mining Tutorial

This address is then displayed to me and I can, for example, deposit via my play money wallet on my mobile phone using the QR code Bitcoins.

NiceHash Bitcoin Mining Tutorial

I want to spend 100,- €, so I deposit 0,25 BTC:

NiceHash Bitcoin Mining Tutorial

After a few minutes.

Translated with www.DeepL.com/Translator

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