Topic: Cryptsy now offering shares in mining contracts. MN1. Question - page 2. (Read 4634 times)
The price has almost doubled since it started.
Seems pricey 
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
You never know though, Cryptsy could change the function of these shares to somehow make them actually "profitable."
I can't believe how many people here think this. As long as the price of your shares don't drop in value, ANY return is profit. There are no sunk costs at all. You need a ROI that exceeds the cost of the hardware only when doing the mining yourself, because you won't be able to sell the miner for the same price you paid for it. Just watch the share prices, and sell if the price drops lower than your purchase price with accrued interest. It's like buying a bond: The vast majority of bonds that people buy offer MUCH lower interest rates.
As for a bond, "profits" aren't "realized" until time of redemption. In this case, it's when you sell your share (or when the value of the fixed income passes the original purchase price). The difference is that there is no guarantee you will sell your share for the amount that you bought it for.
If you think the price of the share will drop substantially, then it would make no sense to buy it. I think the price will stay above .0200 which was my purchase price, for the medium term. All you need to do is set your shares to sell if they fall beyond a certain price. It's incredibly easy. Every payment I get is pure profit.
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
You never know though, Cryptsy could change the function of these shares to somehow make them actually "profitable."
I can't believe how many people here think this. As long as the price of your shares don't drop in value, ANY return is profit. There are no sunk costs at all. You need a ROI that exceeds the cost of the hardware only when doing the mining yourself, because you won't be able to sell the miner for the same price you paid for it. Just watch the share prices, and sell if the price drops lower than your purchase price with accrued interest. It's like buying a bond: The vast majority of bonds that people buy offer MUCH lower interest rates.
As for a bond, "profits" aren't "realized" until time of redemption. In this case, it's when you sell your share (or when the value of the fixed income passes the original purchase price). The difference is that there is no guarantee you will sell your share for the amount that you bought it for.
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
You never know though, Cryptsy could change the function of these shares to somehow make them actually "profitable."
I can't believe how many people here think this. As long as the price of your shares don't drop in value, ANY return is profit. There are no sunk costs at all. You need a ROI that exceeds the cost of the hardware only when doing the mining yourself, because you won't be able to sell the miner for the same price you paid for it. Just watch the share prices, and sell if the price drops lower than your purchase price with accrued interest. It's like buying a bond: The vast majority of bonds that people buy offer MUCH lower interest rates.
I dont know about other services but i am happy with CEX.IO. I dont know if you can make ROI there just with mining but i see that service mostly as trading platform and mining just like nice bonus.
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
You never know though, Cryptsy could change the function of these shares to somehow make them actually "profitable."
The current prices are - in my opinion - not low enough to make ROI.. That's not just for Cryptsy, but also for Cex.io and less valid for PBmining.
Some think they might ROI in half an year, but I'll can make bigger profits in that time (by for example daytrading).
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
You never know though, Cryptsy could change the function of these shares to somehow make them actually "profitable."
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
If btc diff drops that much, then there is probably something seriously wrong that will cause the price to drop, so, what I'm trying to say is that there is about a 0.00000001% chance that these things will be profitable.
Unfortunately the Bitcoin mining GH/s at Cryptsy are way overpriced - which means less chance of making anything back on your investment.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
Why would the market be so inflated? Thanks for the alert, I'm not up to speed on mining contract prices.
Eventually either Cryptsy's will go way down or PB Mining will have a huge rally.
I think they are over priced because newbs are overvaluing them way too much and getting ripped off - which is why I wanted to let people know in this thread
Unfortunately the Bitcoin mining GH/s at Cryptsy are way overpriced - which means less chance of making anything back on your investment.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
Right, but I thought cryptsy didn't have fees or extra charges? You simply buy for life, and get your returns, right?
PB Mining has no fees either - and after 5 years (when the contract runs out) the GH/s will be virtually worthless anyway. There is no way to sell the GH/s later on though - they are 5 year mining contracts.
CEX does have some small fees - but nowhere near enough to make it worth spending twice as much at Cryptsy.
CEX is the best option if you're looking to mine and trade - the trading platform there is very professional and the GH/s are much closer to the market rate than at Cryptsy.
To seriously try and get a return on investment PB Mining is the best option (assuming the service lasts). You can buy 100 GH/s there for 0.58 BTC- I don't want to know how much it would cost for 100 GH/s on Cryptsy.
This is the best mining calculator (which shows upcoming diff changes): https://www.alloscomp.com/bitcoin/calculator
Unfortunately the Bitcoin mining GH/s at Cryptsy are way overpriced - which means less chance of making anything back on your investment.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
Why would the market be so inflated? Thanks for the alert, I'm not up to speed on mining contract prices.
Eventually either Cryptsy's will go way down or PB Mining will have a huge rally.
Unfortunately the Bitcoin mining GH/s at Cryptsy are way overpriced - which means less chance of making anything back on your investment.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
You can buy 1 GH/s of mining power for a third of the price at PB Mining.
And you can also buy 1 GH/s of mining power (which can be traded on an exchange) at CEX for about half of the price.
Disclosure: these are affiliate links above - but honestly the GH/s on Cryptsy are so overpriced.
Does anyone have a comprehensive excel file for future profit using cryptsy mining contracts? If not I could start one. I'd like to have a nice graph with some input boxes, and even a few separate sheets for various negative and positive scenarios.
BTW, I've seen these types of calculators, but I prefer excel: http://www.bitcoinx.com/profit/
BTW, I've seen these types of calculators, but I prefer excel: http://www.bitcoinx.com/profit/
There's probably someone here that has a more comprehensive Excel File (in fact, I know there is, I just don't remember where it's reposited in). But in the interim, you could use something like https://bitcoinwisdom.com/bitcoin/calculator.
....Anyone have any thoughts on why these contracts are being sold for so much over what they were sold for?
People see an initial up move and jump in like lemmings.
More accurate pricing will be seen in a week or two.
Fair enough, it's what I figured too. It is surprising though. Even at the beginning, each share of .0185 BTC pegged to 1Gh/s was only slated to make a BTC ROI if difficulty increases hovered at 2.5%-3% for the next 12 months.
Once it hit around .021 BTC each, difficulty actually needed to start decreasing around 1% per retarget for the next 12 months in order to make ROI.
At 0.025 BTC, I have no clue what the thought process is behind buying. This is why it's very curious.
....Anyone have any thoughts on why these contracts are being sold for so much over what they were sold for?
People see an initial up move and jump in like lemmings.
More accurate pricing will be seen in a week or two.
So apparently these shares are selling for over 0.0275 BTC each (nearly 50% up from what you could buy them for originally). Fortunately, I had a bunch that I had a sell order at around 0.025 (and I didn't think that they would actually sell). Anyone have any thoughts on why these contracts are being sold for so much over what they were sold for?
I don't particularly care to get the ones I sold back (I still have a few left over that I'm keeping, and with the price differential that I sold mine for, it's like I got those for free). I'm more curious than anything.
I don't particularly care to get the ones I sold back (I still have a few left over that I'm keeping, and with the price differential that I sold mine for, it's like I got those for free). I'm more curious than anything.
i have bought at 0.0185 and sold at 0.02, for a small profit. Quite happy with these contracts , but i would not hold them long time. I can't see the upside.
, but i would not hold them long time. I can't see the upside. Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
I bought a few, as well. The lifetime contract did it.
Nice first 2 payouts...I think. Well, I guess I don't really know...I've never mined btc, so don't know what is nice or not. But, I think it was good for what I paid thus far.
I do have to agree that it wasn't the "fairest" move to allow another 10,000 shares to be sold. You gotta remember though, these shares somewhat function as a type of "Bond." The only difference is there is no guarantee of return and it is highly risky.
Once again, if these shares are pegged to 1 Gh/s for their lifetime, then it'll be hard to make ROI at the current rate that the difficulty is increasing.
That said, you never know what the long-term plans for these shares are.
Once again, if these shares are pegged to 1 Gh/s for their lifetime, then it'll be hard to make ROI at the current rate that the difficulty is increasing.
That said, you never know what the long-term plans for these shares are.
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