Maybe a month or two ago I experimented with minmal amounts of btc on pb mining, havlock, and cex.io.
Cex.io was the first one I pulled out of when my btc balance started becoming negative from mining.......its not like cex.io wasn't taking their cut of the profits, just trying to bill me extra for mining on their shit scam site.
Topic: CEX.io GHS Bubble ? - page 5. (Read 11371 times)
forget cloud mining generally, and cex.io especially
we can't make profit from it
since bitcoin difficulty skyrocketing every 12 days, it will make our profit from cloud mining fewer every day
don't forget cex.io maintenance fee, it's too high
and their GHS price is overpriced!
stay away from it
we can't make profit from it
since bitcoin difficulty skyrocketing every 12 days, it will make our profit from cloud mining fewer every day
don't forget cex.io maintenance fee, it's too high
and their GHS price is overpriced!
stay away from it
The game you are playing is not so different from this:
http://youtu.be/gkwosOW181Y - China soldiers pass 'live grenade' in training exercise
Normally I wouldn't care but the fact that you mess up Bitcoin saddens me.
I advise you to play at a casino instead.
http://youtu.be/gkwosOW181Y - China soldiers pass 'live grenade' in training exercise
Normally I wouldn't care but the fact that you mess up Bitcoin saddens me.
I advise you to play at a casino instead.
Don't forget that you can sell your GHS after you are done with mining 
And the price of GHS haven't moved much the last month
And the price of GHS haven't moved much the last month If you buy a mining contract and hold it, then it probably won't be profitable because you will end up with less bitcoins than the amount you put in. If that is your goal, then I agree it would be better to simply hodl the bitcoins themselves and your calculations seem to support this conclusion.
What you are forgetting is that you can profit by trading the mining contracts themselves.
What you are forgetting is that you can profit by trading the mining contracts themselves.
This is the definition of a bubble
Yes, you can trade and make a profit, but over all it is a negative sum game. Better play roulette and get 95 cents back for every dollar on average. You are more likely to win there too.
Even worse, by speculating in GHS you enable miners to use Ghash at no fee. I think they actually accept miners for free because some miners convert their revenues to GHS.
I open CEX.io and find this rather confusing price:
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
If you buy a mining contract and hold it, then it probably won't be profitable because you will end up with less bitcoins than the amount you put in. If that is your goal, then I agree it would be better to simply hodl the bitcoins themselves and your calculations seem to support this conclusion.
What you are forgetting is that you can profit by trading the mining contracts themselves.
I open CEX.io and find this rather confusing price:
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
CEX.io is overpriced and its well kown fact for techies. But for people desperate to invest in mining this is the only option and hence they are gambling. For instance, I know one blonde, who is in r/GirlsGoneBitcoin and earning from private shows, investing whatever she's earning into CEX.io for a mirracle to happen that will eventually pay her mortgage.
I open CEX.io and find this rather confusing price:
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
GHS/BTC = 0.00747 which is the equivalent to THS/BTC = 7.47 = 4.487 USD
So you need to pay more than 7 BTC for one TH/s? It does not make sense at all. Here's why:
Currently one TH/s generates BTC 1.12 per month = 667 USD.
Don't forget maintenance. One TH/s costs 260 USD per month, reducing the profit to 407 USD, so it takes 11 months to break even. With difficulty increases it will surely never happen.
Am I right?
Jump to: