CEX.io is redeeming GH/s for Hoverboard I/II and BitBox I Hardware

TheQuin

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Quote from: Ytterbium on October 28, 2013, 11:42:46 AM

Quote from: Xian01 on October 27, 2013, 12:34:03 PM

Saw that link the other day. Very interesting. However, it seems to make more sense to just have them host all the purchased GHS themselves. I can't think of any reason I would want to redeem GHS for physical hardware if I'm getting the hash-power either way.

It's just there to prove the validity of their claims. It's the same reason you can redeem gold certificates for gold held in a vault somewhere.

That makes sense. I hadn't thought about it like that.

Ytterbium

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Quote from: Xian01 on October 27, 2013, 12:34:03 PM

Saw that link the other day. Very interesting. However, it seems to make more sense to just have them host all the purchased GHS themselves. I can't think of any reason I would want to redeem GHS for physical hardware if I'm getting the hash-power either way.

It's just there to prove the validity of their claims. It's the same reason you can redeem gold certificates for gold held in a vault somewhere.

bclcjunkie

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if i were you i'd sell them before the diff hike. the drop will be double the current going rate.

Quote from: ZetaOS on October 27, 2013, 10:18:26 PM

So i better sell my 12GHs before 1 November? Whit the new fee, i gonna lose only btc

ZetaOS

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So i better sell my 12GHs before 1 November? Whit the new fee, i gonna lose only btc

SquallLeonhart

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Quote from: davecoin on October 27, 2013, 12:30:36 PM

https://cex.io/redeem

Hoverboard I
115 - 190 GH/s
320w (8 boards)

Hoverboard II
300 - 400 GH/s
640w

BitBox I
450 - 550 GH/s
700w - 1000w

There's also "Battlecruiser" units hashing over 1TH/s, but they are not listed for redemption.

The Ukraine Hardware thread:
https://bitcointalksearch.org/topic/m.3414777

Rather not redeem. Too complicated for me

bclcjunkie

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absolutely... Grin

not to mention there's no way you can mine alt shas with their hosted miners... you have to take the delivery, but in that case i might as well get jupiters which seem to be a better deal... for example on cex.io you need to spend about 55 btc to get 500gh worth of mining power, while offline you can that get for about 40 btc and avoid all the messy cabling+additional PSU.

Quote from: Xian01 on October 27, 2013, 05:39:15 PM

Quote from: Dexter770221 on October 27, 2013, 05:30:58 PM

Yours calculation are good. 72$/month/100GH thats will be cost of hosting/maintenance/electricity at cex.io if they decide to keep that price 0.001
Or 0.33BTC @216$/BTC

Thanks for running these numbers. So it seems like it's not worth it afterall dealing with buying GHS then, huh ?

Xian01

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Christian Antkow

Quote from: Dexter770221 on October 27, 2013, 05:30:58 PM

Yours calculation are good. 72$/month/100GH thats will be cost of hosting/maintenance/electricity at cex.io if they decide to keep that price 0.001
Or 0.33BTC @216$/BTC

Thanks for running these numbers. So it seems like it's not worth it afterall dealing with buying GHS then, huh ?

Dexter770221

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Yours calculation are good. 72$/month/100GH thats will be cost of hosting/maintenance/electricity at cex.io if they decide to keep that price 0.001
Or 0.33BTC @216$/BTC

davecoin

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Quote from: Dexter770221 on October 27, 2013, 04:09:39 PM

Quote from: davecoin on October 27, 2013, 02:04:27 PM

Makes sense. Thank you Wink

So 100 GH/s will cost you:

$0.001 x 100 x 24 hours = $2.40 per day or $72 per month.

That's 1 Watt per GH at $0.10 per kWh.

100W/100GH * 24h * 30d * 0,10$/kWh = 7.2$
Considering only electricity (which is propably way more cheaper than 0,10$) hosting offer is 10 times expensive than running hardware in home...

Thanks. Must have added a zero in the calculator. Seems steep looking at it now Tongue

Dexter770221

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Quote from: davecoin on October 27, 2013, 02:04:27 PM

Makes sense. Thank you Wink

So 100 GH/s will cost you:

$0.001 x 100 x 24 hours = $2.40 per day or $72 per month.

That's 1 Watt per GH at $0.10 per kWh.

100W/100GH * 24h * 30d * 0,10$/kWh = 7.2$
Considering only electricity (which is propably way more cheaper than 0,10$) hosting offer is 10 times expensive than running hardware in home...

davecoin

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Makes sense. Thank you Wink

So 100 GH/s will cost you:

$0.001 x 100 x 24 hours = $2.40 per day or $72 per month.

~~That's 1 Watt per GH at $0.10 per kWh.~~

That's 1 Watt per GH, but at a rate of $1.00 per kWh.

TheQuin

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Quote from: davecoin on October 27, 2013, 01:45:19 PM

Quote from: TheQuin on October 27, 2013, 12:50:30 PM

Also to cancel your GH/s when costs exceed returns.

Source?

https://cex.io/ghs

"In addition to this supporting the constant output of your GHS in the pool will also require certain maintenance cost for each facility (like electricity, space and upkeep). These costs will be charged from your account . All the pricing will be available in your personal profile. If your balance has insufficient funds to pay for the maintenance cost for your GHS, we will be forced to sell a number of your GHS to cover the expenses."

So when the income is less than the costs they will sell your GH/s

I also found this on the FAQ https://cex.io/faq I didn't see before:

"How much is the maintenance fee? When will it be implemented?

We are planning to implement the maintenance fee starting from November 1st. The amount is still being decided, the approximate cost will be $0.001 per GHS / hour."

Edit: yes I should have said sell not cancel, but I guess they will be worthless when that happens.

davecoin

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Quote from: TheQuin on October 27, 2013, 12:50:30 PM

Also to cancel your GH/s when costs exceed returns.

Source?

TheQuin

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Quote from: Xian01 on October 27, 2013, 12:47:42 PM

Quote from: Zubilica on October 27, 2013, 12:43:58 PM

there is a hosting fee and a management fee ,also there is a limit for the owner to expand without selling hardware

It is very possible I overlooked something and was not able to find the hard numbers for hosting fees. Could you kindly point me in the right direction ?

They are not charging them yet but reserve the right to in the future. ie when the cost of electricity becomes significant. Also to cancel your GH/s when costs exceed returns.

Xian01

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Christian Antkow

Quote from: Zubilica on October 27, 2013, 12:43:58 PM

there is a hosting fee and a management fee ,also there is a limit for the owner to expand without selling hardware

It is very possible I overlooked something and was not able to find the hard numbers for hosting fees. Could you kindly point me in the right direction ?

Zubilica

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Quote from: Xian01 on October 27, 2013, 12:34:03 PM

Saw that link the other day. Very interesting. However, it seems to make more sense to just have them host all the purchased GHS themselves. I can't think of any reason I would want to redeem GHS for physical hardware if I'm getting the hash-power either way.

there is a hosting fee and a management fee ,also there is a limit for the owner to expand without selling hardware

Xian01

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Activity: 1652

Merit: 1067

Christian Antkow

Saw that link the other day. Very interesting. However, it seems to make more sense to just have them host all the purchased GHS themselves. I can't think of any reason I would want to redeem GHS for physical hardware if I'm getting the hash-power either way.

davecoin

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Activity: 816

Merit: 1000

https://cex.io/redeem

Hoverboard I
115 - 190 GH/s
320w (8 boards)

Hoverboard II
300 - 400 GH/s
640w

BitBox I
450 - 550 GH/s
700w - 1000w

There's also "Battlecruiser" units hashing over 1TH/s, but they are not listed for redemption.

The Ukraine Hardware thread:
https://bitcointalksearch.org/topic/m.3414777

Topic: CEX.io is redeeming GH/s for Hoverboard I/II and BitBox I Hardware (Read 7001 times)