Is it me, or has the frequency that Cryptsy pay out their mining contract earnings become somewhat erratic?
I think I saw in their twitter there was a problem with payouts yesterday? Still I wouldn't cloud mine with them. Way too expensive.
Topic: Cryptsy now offering shares in mining contracts. MN1. Question (Read 4691 times)
I think I saw in their twitter there was a problem with payouts yesterday? Still I wouldn't cloud mine with them. Way too expensive.
Is it me, or has the frequency that Cryptsy pay out their mining contract earnings become somewhat erratic?
I thought the price would not crash down so drastically and so quickly. I can't get my mind around this, why anyone in his sane mine would sell a mining contract that bought 1 or 2 days ago for 0.18 BTC in 0.16 or lower for fuck sake!!
So MN2 shares are now out, at 0.18, can we assume this caused the MN1 contracts to lose value?
Way too many MN2. Pulled out all the available cash from the people that don't know any better. I noticed they even started trading on it before all the initial allotment was sold (lol). gg cryptsy.
... but, people shouldn't compare the price on these to cex.io. cex.io charges a maintenance fee which is a bit extravagant: https://cex.io/maintenance
No maintenance fee on the Cryptsy shares, though I have my doubts about this "lifetime" contract lasting for more than a year. Cryptsy got their hashpower from ghash.io, at some discount.... but ghash.io won't want to keep providing that indefinitely obv.. Better hope they're working on more efficient & faster ASICs, I guess.... else the maintenance fee will be 100% in less than 1/2 a year..
... but at any rate, when comparing prices vis-a-vis cex.io, the cryptsy shares are about 25% more valuable due to the lack of maintenance fee. well, unless they're deducting that from the bitcoins they distribute. wouldnt surprise me.
I can offer you better price, we sell same MN1 contracts for 0.0169 Btc, and If my calculations are correct, our daily payouts are also higher than cryptsy´s.
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
You lack of integrity will keep people away. Start your own thread.
I do have my own thread and there is link to that thread
I can offer you better price, we sell same MN1 contracts for 0.0169 Btc, and If my calculations are correct, our daily payouts are also higher than cryptsy´s.
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
You lack of integrity will keep people away. Start your own thread.
I can offer you better price, we sell same MN1 contracts for 0.0169 Btc, and If my calculations are correct, our daily payouts are also higher than cryptsy´s.
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
MN1/BTC market here:
https://crycurex.com/markets/detail/15/
More info here:
https://bitcointalksearch.org/topic/m.6428256
or at www.crycurex.com
I bought 4 MN2 contracts at 0.18 each, thinking to sell them after the IPO around 0.19 , but the price went down the drains and right now it is around 0.127 , I don't know why this went down so hard , MN1 didn't behave this way.
Yes. It sucks. I bought one at .18. I wouldn't panic sell. I'd hold it because the price has been steadily going up. The dividend payouts started good and now are not great. Wait and see, If the next few dividend payouts go back to their higher level, I think the share price will rebound.
That said, I'll probably dump it at a break even price if that becomes possible. These dividend payouts can easily be wiped out if the price drops. Especially if they release MN3 in a few weeks.
Is is a good idea in theory but was poorly executed.
I bought 4 MN2 contracts at 0.18 each, thinking to sell them after the IPO around 0.19 , but the price went down the drains and right now it is around 0.127 , I don't know why this went down so hard , MN1 didn't behave this way.
So MN2 shares are now out, at 0.18, can we assume this caused the MN1 contracts to lose value?
This had a significant amount to do with it. After all, to balance that value, the values of the MN1 contracts have to go down. Cogently, a new contract doesn't directly affect the price of the older contracts, but there is a severe psychological impact that causes the overall market to react. I do expect the price MN1 to bump up a bit (maybe to .195ish) when MN2 initial sales are completed (and their price bumps up also).I bought one share of MN2. I like the idea of these contracts. It is almost akin to buying a stock and getting dividend payouts. It isn't a lot, but it can add up over time, and if the price is stable it can offset any losses.
The only real problem is that when the hashing power goes up...the "dividend" payouts should exponentially decrease. So a "lifetime" contract is pretty meaningless if you think about it.
Then again...if I get 33 cents a share per day, that may not sound like a lot...but my AAPL shares only pay $3.21 per share PER QUARTER! The risk is much higher in Bitcoin, as cryptsy could dissolve tomorrow and I'd be shit out of luck...but I think this "mining contract" concept is really great. I can't way to see it more refined.
I understand that the MN1 and MN2 values could go down, but what variables factor into the daily payouts? I'm concerned that the daily payout could be much smaller. Right now it's unbelievable - sometimes .2-.3% / day.
Will the daily payouts fluctuate, or inevitably go down?
They will inevitably go down. It says that on Cryptsy.
If you like cheaper mining contracts with daily profits .. try us
https://crycurex.com/markets/detail/15/
https://crycurex.com/markets/detail/15/
So MN2 shares are now out, at 0.18, can we assume this caused the MN1 contracts to lose value?
This had a significant amount to do with it. After all, to balance that value, the values of the MN1 contracts have to go down. Cogently, a new contract doesn't directly affect the price of the older contracts, but there is a severe psychological impact that causes the overall market to react. I do expect the price MN1 to bump up a bit (maybe to .195ish) when MN2 initial sales are completed (and their price bumps up also).I bought one share of MN2. I like the idea of these contracts. It is almost akin to buying a stock and getting dividend payouts. It isn't a lot, but it can add up over time, and if the price is stable it can offset any losses.
The only real problem is that when the hashing power goes up...the "dividend" payouts should exponentially decrease. So a "lifetime" contract is pretty meaningless if you think about it.
Then again...if I get 33 cents a share per day, that may not sound like a lot...but my AAPL shares only pay $3.21 per share PER QUARTER! The risk is much higher in Bitcoin, as cryptsy could dissolve tomorrow and I'd be shit out of luck...but I think this "mining contract" concept is really great. I can't way to see it more refined.
So MN2 shares are now out, at 0.18, can we assume this caused the MN1 contracts to lose value?
This had a significant amount to do with it. After all, to balance that value, the values of the MN1 contracts have to go down. Cogently, a new contract doesn't directly affect the price of the older contracts, but there is a severe psychological impact that causes the overall market to react. I do expect the price MN1 to bump up a bit (maybe to .195ish) when MN2 initial sales are completed (and their price bumps up also).
Cryptsy MN1 is featured on our bitcoin cloud mining review site at: http://cloudminingreport.com
Here is our full Cryptsy MN1 review
Here is our full Cryptsy MN1 review
Personally I think there Overpriced and your best bet is the BDD MINE/SELL shares over at havelock investments. Or you could go with cloudmining, and I'd probably go with PB mining.
So MN2 shares are now out, at 0.18, can we assume this caused the MN1 contracts to lose value?
The price has almost doubled since it started.
Not quite double, but for all of those that bought during the initial sale, they'll be making .55 BTC per share plus whatever their shares have brought in so far. Which isn't all that bad. (In full disclosure, I sold quite a bit of mine at .025, but I'm at the point now where the "dividends" plus shares I sold are now equal to what I initially put in. It's kinda like got those shares for "free" and every "dividend" that is get is just extra icing on the cake.)I can't recommend buying shares at this moment though. It's hard to convince me that the amount that can be gotten is worth the risk.
I'd agree with that. I bought in 20 of the initial shares and sold them all off after 3 days for a decent profit. I just don't see them making a positive ROI if holding onto them long term.
If you're there for the market opening, every thing they make available goes way over value on cryptsy straight away; an immediate parabolic and crash quite seperate to any other market forces.
Yeah, that pretty much is what happens with a lot of things so often. Oh well, quick profit I suppose. 
If you're there for the market opening, every thing they make available goes way over value on cryptsy straight away; an immediate parabolic and crash quite seperate to any other market forces.
The price has almost doubled since it started.
Not quite double, but for all of those that bought during the initial sale, they'll be making .55 BTC per share plus whatever their shares have brought in so far. Which isn't all that bad. (In full disclosure, I sold quite a bit of mine at .025, but I'm at the point now where the "dividends" plus shares I sold are now equal to what I initially put in. It's kinda like got those shares for "free" and every "dividend" that is get is just extra icing on the cake.)I can't recommend buying shares at this moment though. It's hard to convince me that the amount that can be gotten is worth the risk.
I'd agree with that. I bought in 20 of the initial shares and sold them all off after 3 days for a decent profit. I just don't see them making a positive ROI if holding onto them long term.
The price has almost doubled since it started.
Not quite double, but for all of those that bought during the initial sale, they'll be making .55 BTC per share plus whatever their shares have brought in so far. Which isn't all that bad. (In full disclosure, I sold quite a bit of mine at .025, but I'm at the point now where the "dividends" plus shares I sold are now equal to what I initially put in. It's kinda like got those shares for "free" and every "dividend" that is get is just extra icing on the cake.)I can't recommend buying shares at this moment though. It's hard to convince me that the amount that can be gotten is worth the risk.
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