pico ~ 0.0052 btc / ghash
Topic: cex.io vs https://picostocks.com/stocks/view/19 (Read 4266 times)
cex.io ~ 0.006 btc / ghash
pico ~ 0.0052 btc / ghash
pico ~ 0.0052 btc / ghash
.... they would adjust the fees with the changing difficulty...
It was price BTC/USD not diff......
The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.
The fee will be adjusted according to the BTC/USD exchange rate.
...
The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.
The fee will be adjusted according to the BTC/USD exchange rate.
...
4% seems somewhat reasonable, but it'll be interesting to see what effect this will have on the GH/s price. Coupled with the upcoming difficulty jumps, there should be some pretty heavy drops in prices.
After 2 more difficulty jumps, which is just 14 days from now, that 4% fee will become around a 10% fee. By the start of 2014 that fee will approach 30-40%. At some point data center costs will start to eat up all the expected revenue.
This is the end game for a hosting solution like this. Remember in the GPU era mining was largely a break even activity. Maybe slightly profitable for home setups, but negative if you ran in a professional DC.
Cex.io mentioned they would adjust the fees with the changing difficulty...I guess we'll have to wait and see...but it's in their best interest to keep it low otherwise people will just leave.
4% seems somewhat reasonable, but it'll be interesting to see what effect this will have on the GH/s price. Coupled with the upcoming difficulty jumps, there should be some pretty heavy drops in prices.
After 2 more difficulty jumps, which is just 14 days from now, that 4% fee will become around a 10% fee. By the start of 2014 that fee will approach 30-40%. At some point data center costs will start to eat up all the expected revenue.
This is the end game for a hosting solution like this. Remember in the GPU era mining was largely a break even activity. Maybe slightly profitable for home setups, but negative if you ran in a professional DC.
4% seems somewhat reasonable, but it'll be interesting to see what effect this will have on the GH/s price. Coupled with the upcoming difficulty jumps, there should be some pretty heavy drops in prices.
That's good news! I asked Cex on their official mining page if they plan to implement today.
The maintenance fee
The fee will be implemented in 1 week, which makes it November 8th 2013.
The maintenance fee is estimated as $0.30 / kW*hour:
$0.17/kW electricity cost + $0.09 data centre upkeep + $0.04 hardware repair/maintenance.
(The power consumption of 1 GHS is 1.5W per hour)
The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.
The fee will be adjusted according to the BTC/USD exchange rate.
About the hardware maintenance:
We will charge $0.09 for the data centre upkeep + $0.04 for hardware repair/maintenance.
Handling 600+ kW mining equipment is quite challenging. This involves MANY people working at the backend, who:
- Replace dead chips
- Fix PCB issues
- Upgrade electricity links
- Improve mining software to reduce stale shares (we have stopped delivering stale shares for purchased GHS).
Beat me to the update! Nice =)
That's good news! I asked Cex on their official mining page if they plan to implement today.
The maintenance fee
The fee will be implemented in 1 week, which makes it November 8th 2013.
The maintenance fee is estimated as $0.30 / kW*hour:
$0.17/kW electricity cost + $0.09 data centre upkeep + $0.04 hardware repair/maintenance.
(The power consumption of 1 GHS is 1.5W per hour)
The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.
The fee will be adjusted according to the BTC/USD exchange rate.
About the hardware maintenance:
We will charge $0.09 for the data centre upkeep + $0.04 for hardware repair/maintenance.
Handling 600+ kW mining equipment is quite challenging. This involves MANY people working at the backend, who:
- Replace dead chips
- Fix PCB issues
- Upgrade electricity links
- Improve mining software to reduce stale shares (we have stopped delivering stale shares for purchased GHS).
That's good news! I asked Cex on their official mining page if they plan to implement today.
Yeah...i got out. Can someone tell me if the fee is in place?
No Fees yet.
Yeah...i got out. Can someone tell me if the fee is in place?
Hmm, I have played a bit with cex.io, mined a bit and traded out with a profit (mining and trading). It seems very tempting to buy mining power seemingly very cheaply (no need to gather together several thousand dollars and wait weeks/months for an order), but shouldn't the price per Ghash keep falling? Anyone who buys needs to be aware their purchase produces around 30% less bitcoins every 10 days or so.
Seems like an interesting race to the bottom as everyone tries to mine as much as possible with an eye to sell before difficulty rises again.
Seems like an interesting race to the bottom as everyone tries to mine as much as possible with an eye to sell before difficulty rises again.
these places really count morons to buy their shit..so sick of the greed and scams. Hope to see this change in the near future but people need to stop allowing themselves to get ripped off ever friggin' minute
You think that's bad....check out how bad it will be in January:
If the cost to mine at home with a cointerra @ 1000 GHS is $30 month (depending on your electricity rate -more/less)...the same cost by mining on CEX.io is...wait for it... $.001/GHS/Hour*GHS*Hour*30days = .001*1000*24*30 = $720 a month...hahaah... with diminishing profits....this model is broken before it comes into play.
these places really count morons to buy their shit..so sick of the greed and scams. Hope to see this change in the near future but people need to stop allowing themselves to get ripped off ever friggin' minute
Hosting fees at cex.io will be at least 7 times higher than running 10GH in home.
10GH x 0.001$ = 0.01$ per hour.
0.24$ per day
7.2$ per month.
We know that efficiency of bitfury chips are ~1W/GH at wall.
Thats 240Wh per day (10GH)
7.2 kWh per month at 0.15$/kWh = 1.08$/month
And 0.15$/kWh is rather very high price.
cex.io wants 1$/kWh and they buying propably lower than 0.05$
EDIT:
According to this site: http://bitcoinwisdom.com/bitcoin/difficulty 10GH will mine 0.09005BTC per week at current diff. At 200$/BTC cex.io will take 1.68$ or 0.0084BTC. Thats almost 10% of mined coins. If price will drop or difficulty will raise (that's for sure) this % will only increase. In next change it may be 13%, next 17%, next 22%....
10GH x 0.001$ = 0.01$ per hour.
0.24$ per day
7.2$ per month.
We know that efficiency of bitfury chips are ~1W/GH at wall.
Thats 240Wh per day (10GH)
7.2 kWh per month at 0.15$/kWh = 1.08$/month
And 0.15$/kWh is rather very high price.
cex.io wants 1$/kWh and they buying propably lower than 0.05$
EDIT:
According to this site: http://bitcoinwisdom.com/bitcoin/difficulty 10GH will mine 0.09005BTC per week at current diff. At 200$/BTC cex.io will take 1.68$ or 0.0084BTC. Thats almost 10% of mined coins. If price will drop or difficulty will raise (that's for sure) this % will only increase. In next change it may be 13%, next 17%, next 22%....
Sorry to rain on your parade for...well...both of these options. I just ran some numbers at cex.io just so I could figure out how badly we beat the competition.
At cex.io right now: 1GH/s = 0.1 BTC. So: 10 GH/s costs you 1 BTC, or $200 at BTC's current rate of $200 (as of 10/30 10PM HST)
I have Black Arrow Bullet Run boards arriving TOMORROW in Missouri at my partner's host facility (bobsag3), in which case, we expect to be hashing on November 1.
In our Round 12 Group Buy featuring these Black Arrow Bullet Run boards with Bitfury (instead of Minion) chips, our lil co-op is managing to beat the big boys at cex.io by a whopping 39%: $123 vs. $200
No joke. Check it out: https://bitcointalksearch.org/topic/closed-r12-black-arrow-bf-bullet-run-123-39-cheaper-than-cexio-321862
==
I haven't run the numbers on hosting fees, but it's likely a wash or we handily beat them there too since our hosting prices beat everyone else's on that end as well (even CoinTerra and KnC Hosting can't beat our pricing). Just sayin.
At cex.io right now: 1GH/s = 0.1 BTC. So: 10 GH/s costs you 1 BTC, or $200 at BTC's current rate of $200 (as of 10/30 10PM HST)
I have Black Arrow Bullet Run boards arriving TOMORROW in Missouri at my partner's host facility (bobsag3), in which case, we expect to be hashing on November 1.
In our Round 12 Group Buy featuring these Black Arrow Bullet Run boards with Bitfury (instead of Minion) chips, our lil co-op is managing to beat the big boys at cex.io by a whopping 39%: $123 vs. $200
No joke. Check it out: https://bitcointalksearch.org/topic/closed-r12-black-arrow-bf-bullet-run-123-39-cheaper-than-cexio-321862
==
I haven't run the numbers on hosting fees, but it's likely a wash or we handily beat them there too since our hosting prices beat everyone else's on that end as well (even CoinTerra and KnC Hosting can't beat our pricing). Just sayin.
Guys - CEX.io is implementing a maintenance fee on Nov 1 - .001btc/hour. Just wanted to warn everyone. I guess If you can afford the fee, it's not an issue. I pulled out.
It's on their FAQ (bottom of of their page) number 3.
Nice try. It's $0.001 per GHS / hour. https://cex.io/faq It's on their FAQ (bottom of of their page) number 3.
Guys - CEX.io is implementing a maintenance fee on Nov 1 - .001btc/hour. Just wanted to warn everyone. I guess If you can afford the fee, it's not an issue. I pulled out.
It's on their FAQ (bottom of of their page) number 3.
It's on their FAQ (bottom of of their page) number 3.
.024 btc per day? that means you need hashpower that exceeds this correct? If my back of the napkin calculations are right that is roughly 15 GH a day isn't it just to break even? Now throw in that extra 30-50 percent increase every 10 days and you're basically playing the inflation game it seems like.
Guys - CEX.io is implementing a maintenance fee on Nov 1 - .001btc/hour. Just wanted to warn everyone. I guess If you can afford the fee, it's not an issue. I pulled out.
It's on their FAQ (bottom of of their page) number 3.
It's on their FAQ (bottom of of their page) number 3.
Not sure if I fully agree with your argument. If BTC goes up, then it's worth more, so you should be able to buy more GHS. But I guess, since BTC, the GHS is always worth more since it allows you to mine it. But really I think they just cancel each other out since the mining is the same as the value of the BTC???
I don't think it should have an affect on the price. Just me though.
I don't think it should have an affect on the price. Just me though.
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