Financial intermediary logic, courtesy of Nicehash:
Using just two Radeon 28mm cards (one R9 270x and one R9 380), you can imagine that those bitcoins didn't exactly flow in by the gazillions :)
As the Windows Nicehash app proudly stated that my fortunes are now in excess of 0.001 BTC ($8.00 - $9.00 of old plain money at the time of writing), I decided to give those wary baked Radeons a brake. The whole setup occupied a considerable portion of my desk and a nearby sofa, so I was relieved to capitalize on accrued earnings and disassemble the whole thing.
Two days later, I logged in to Nicehash to withdraw those 0.001-something BTC to Coinbase and guess what: after an automatic transaction from my Nicehash account to - guess where - again my Nicehash account, the 0.001-something were now transformed to 0.00098850 BTC (virtual-Nicecash-BTCs, to be precise).
Now I officially have 0.00098850 BTC in my *Nicehash* wallet. Problem is - I cannot do anything with such amount in that "wallet", because to extract it from there it needs to be at least 0.001 BTC (for a transfer to Coinbase).
Another way to put this:
- What you get is a % of % of what you give.
- But you don't really get it, because now it is only % of the minimum %.
- Profit.
Using just two Radeon 28mm cards (one R9 270x and one R9 380), you can imagine that those bitcoins didn't exactly flow in by the gazillions :)
As the Windows Nicehash app proudly stated that my fortunes are now in excess of 0.001 BTC ($8.00 - $9.00 of old plain money at the time of writing), I decided to give those wary baked Radeons a brake. The whole setup occupied a considerable portion of my desk and a nearby sofa, so I was relieved to capitalize on accrued earnings and disassemble the whole thing.
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Problem?
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Two days later, I logged in to Nicehash to withdraw those 0.001-something BTC to Coinbase and guess what: after an automatic transaction from my Nicehash account to - guess where - again my Nicehash account, the 0.001-something were now transformed to 0.00098850 BTC (virtual-Nicecash-BTCs, to be precise).
Now I officially have 0.00098850 BTC in my *Nicehash* wallet. Problem is - I cannot do anything with such amount in that "wallet", because to extract it from there it needs to be at least 0.001 BTC (for a transfer to Coinbase).
Another way to put this:
- Nicehash gives you whatever they like for the processing power you sell.
- When you reach 0.001 BTC, Nicehash charges you 2% service fee for "selling hash power" and puts it in your "Nicecash wallet".
- Now you have slightly less than 0.001 BTC, and all you can do is: a) mine a second 0.001 BTC to actually get your first 0.001 BTC, or b) feel the warm satisfaction staring at your virtual virtual 0.00098--- BTC.
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