so there is nothing wrong with my hardware??
You are encoding x.264, and that is a real demanding workload for a CPU. But as long as you maintain a encoder settings that do not impidie your CPU to do both workloads, game and encoding, there's no problem with that. And your log shows no lagged frames due to encoding lag and "Number of lagged frames due to rendering lag/stalls: 22 (0.4%)", it is not 0 but it is pretty close. So your main number of lagged frames in your stream doesn't seem to be because of your hardware or your encoder-settings.
Your log says "Number of dropped frames due to insufficient bandwidth/connection stalls: 2466 (44.9%)", so it seems that almost half the frames your hardware encodes from your gameplay is not reaching the Twitch ingest server because your internet bandwidth should be overloaded.
That would make sense for you also having a high ping and lag while trying to game and stream with that settings.
Maybe someone there is using the same Internet connection to download or watch streaming services?. It could also make your bandwidth fully loaded.
Lowering your bitrate will make your stream to need less of your Internet bandwidth (but you should also lower some of your stream's options as resolution in order to maintain an adecuatte bitrate/quality image). Upgrading your Internet connection to a high bandwith will allow it to carry your stream and your game data.