Ban Nicehash from pools


#21

I found posts on Discord saying that the devs are working on the issue, but I don’t know anything more…
Nicehash is a pain is the ass.


#22

they are saying that for like - half a year?

Actually its not possible to use Nicehash on any pool unless pool devs does not configure pool to be compatible with nicehash .

More about that here

https://www.nicehash.com/pool-operators

They gave dedicated stratum port to Nicehash , but they keeping that information private.

So whole project is getting destroyed so that pool admins can get more money on daily basis from Nicehash.


#23

We had like 10 days without nicehash and price was stable around $0.25/smart

Difficulty was around 120.000

Now they hook up, difficulty spiked to 240.000 and price dropped in 24 hours for almost 10%.

Which proves that Nicehash guys produce almost 50% of everything is produced on daily basis.

After that they dump all on exchanges they completely dry out buy walls and cause huge price drops. They dont care is price good or not.

$0.219923 USD (-2.04%)
0.00002127 BTC (-9.89%)

This will cause more small miners, to switch they hash power to different coins. Nicehash will produce bigger % of daily produced coins, and dump them every 24 hours as they always do.

Cryptocurrencies exist not because of devs and miners - but because investors believe in them. Nicehash dumps cause that many investors scare and panic sell their coins too. That will at the end completely destroy Smartcash.

Nicehash is destroying all our investment into Smartcash. And devs simply don’t care.

Dev’s simply don’t understand why people in first place invest in cryptocurrencies. Their main goal/idea is to save their investment from inflation because interest rates in banks are lower than inflation %. Smartrewards was great idea , which motivated people to invest into Smartcash and HODL their coins. People were happy because Smartcash was getting better from month to month. Than some “bright” dev decided, to enable Nicehash on pool, and that caused pool crashes, difficulty spikes, and at the end - huge dumps and price drops.

People will loose they faith and move they money into something else, and Smartcash will become one of many cryptocurrencies ruined by dev’s who wanted fast profit. This is happening right now.

Smartcash lost 11% of its value in last 24 hours because of Nicehash

0.00002099 BTC (-11.19%)


#24

what money can pool admins get from nicehash when it is a 0% pool?

So whole project is getting destroyed so that pool admins can get more money on daily basis from Nicehash. - cveks


#25

All that info is public here

https://www.nicehash.com/pool-operators

Boost your earnings
Take the opportunity to make extra income with your pool. Every time you refer a paying buyer, you make 5% of our revenue share of every order from that buyer! You can find promotional material on the Referrals and Media pages.

https://www.nicehash.com/referrals

They give 5% of earnings to smartcash devs from each user they reffer to Nicehash .

Its classic Ponzi scheme.


#26

Nicehash is having a private party on Keccak algorithm lately. They won’t allow buyers in to allow reasonable price to be set, though there are some inside orders. Looking at the order prices, there is just one buyer with all the orders as they aren’t competing.

A week or two ago I was witnessing an unbelievable price:

The price at that moment made the actual price of Smarts for this buyer approximately 2000 times less than average price on the exchanges.

I don’t know how all that possible except for the possibility, that Nicehash sells hashing power from hacker botnets. Alternatively, there is an inside buyer from Nicehash team and they basically steal some hashing power from the sellers.

Don’t freak out though )) The good thing is that still, hashing power there is limited. And nobody can do too much about hacker botnets. All we can do is to develop SmartCash further, grow value and community and attract more miners. Still, overall SmartCash hash rate is significantly higher than the one on Nicehash.


#27

Nothing is good when you have Nicehash mining some coin.

Nothing

They dont mine it to keep it like rest of us. They mine it to dump it for BTC. And they do that all the time.

Difficutly spikes because of their hacked botnets, pool crashes, they chase out regular miners, and at the end that coin project ends in disaster.

And all that - because of dev’s greed.


#28

I completely agree. The impact of these nicehashers we’ve seen in the past few days has been brutal. I was fully committed to SMART but right now I’m actively looking for another coin to mine because within 4 short days, this coin has gone to hell.

The really sad thing is that we can probably post and protest this as much as we want because it appears to me that not a single Smartcash staffer is actually frequenting this forum. It feels as if they abandoned their own coin.