Absolute rubbish and a gimmick.
Invest in GHS at your peril!!
I like cryptsy
but this is a low point.
If you have any questions,
take a look at the long term CEX.IO chart.
Topic: Cryptsy now offering shares in mining contracts. MN1. Question - page 3. (Read 4634 times)
Cryptsy stated clearly at the beginning that after the 10.000 shares sell, the market would open so everybody could trade the shares he owned.(I have a statement from the customer support too)***
Now they increase the MN1 contract to 20.000 shares (that means +10000 shares) !!!! If I would know they made something diferrent from the first statement I wouldn't buy.
BigVern new announcment on twitter:
"Due to demand, we will be increasing the MN1 contract to 20Th - will also offer 10k more shares.Double capacity means no dilution of shares"
THEY THINK WE ARE STUPID OR WHAT?
ok the dividents will be the same BUT the shares market price will decline its simple as that...
for example if the market real demand is for 30.000 shares then the +20.000 shares demand must be purchased from the open market since only 10.000 was available (so the price would increase) NOW they give 10000 more so the remaining demand is minus 10000 shares and if they continue to CHEAT investors like that they can give more and more and more until demand is very very low so the price will drop immediately after the market will open(or for the optimistics it will increase but not as it could before the added suply). THANK YOU CRYPTSY for SCAMMING US... Personaly I bought shares to sell them not to keep them... So if I new that the first statement was a BIG LIE I wouldn't buy !!!
***(I will provide screenshots for all the conversation ASAP because its interresting)
04.11.2014
Hello xxxxxxxx,
You will be receiving continuous payouts of what is mined.
I am unable to reverse your purchase, but you are welcome to sell your shares once the other half of the set 10000 shares have all
been taken. We have sold 1/2 of them already in first 12 hours, so its actually looking pretty good for all involved.
Sincerely,
Jim
Customer Service Manager
Cryptsy.com
PS Not to mention the price of 0.0185 BTC per share 1GH/s compared to https://cex.io/#GHS-BTC of 0.0106 BTC
Now they increase the MN1 contract to 20.000 shares (that means +10000 shares) !!!! If I would know they made something diferrent from the first statement I wouldn't buy.
BigVern new announcment on twitter:
"Due to demand, we will be increasing the MN1 contract to 20Th - will also offer 10k more shares.Double capacity means no dilution of shares"
THEY THINK WE ARE STUPID OR WHAT?
ok the dividents will be the same BUT the shares market price will decline its simple as that...
for example if the market real demand is for 30.000 shares then the +20.000 shares demand must be purchased from the open market since only 10.000 was available (so the price would increase) NOW they give 10000 more so the remaining demand is minus 10000 shares and if they continue to CHEAT investors like that they can give more and more and more until demand is very very low so the price will drop immediately after the market will open(or for the optimistics it will increase but not as it could before the added suply). THANK YOU CRYPTSY for SCAMMING US... Personaly I bought shares to sell them not to keep them... So if I new that the first statement was a BIG LIE I wouldn't buy !!!
***(I will provide screenshots for all the conversation ASAP because its interresting)
04.11.2014
Hello xxxxxxxx,
You will be receiving continuous payouts of what is mined.
I am unable to reverse your purchase, but you are welcome to sell your shares once the other half of the set 10000 shares have all
been taken. We have sold 1/2 of them already in first 12 hours, so its actually looking pretty good for all involved.
Sincerely,
Jim
Customer Service Manager
Cryptsy.com
PS Not to mention the price of 0.0185 BTC per share 1GH/s compared to https://cex.io/#GHS-BTC of 0.0106 BTC
With Simple Exchange you can start and run your own funds.
Intresting development, looks like a lifetime contract. Ill buy some but i dont expect to make much profit unless btc diff drops
It's an interesting approach of taking a dividend route, but just as a note, each share is kinda like getting a 1Gh/s miner. And since the network doesn't show much signs (if any) of slowing down it may be hard to make ROI on the initial investment.
That said, you never know whether these mining contract shares will be put into something else in the future.
That said, you never know whether these mining contract shares will be put into something else in the future.
I've been using Cryptsy and didn't notice.
Thank you for the news.
I'll buy some.
Thank you for the news.
I'll buy some.
My best friend got into similar shares offered by Cryptorush.in. I know there's been some negative press about this particular altcoin exchange. However the concept is still interesting.
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
Yes. You can trade the shares just like any other altcoin.
To me it is analogous to a stock that pays dividends.
Nice one brother - I exclusively deal in Ƀ these days but will look into. I wonder if the share holders get real-time updates on mining (name of altcoin, mining hash rate, total blocks awarded, etc)
My best friend got into similar shares offered by Cryptorush.in. I know there's been some negative press about this particular altcoin exchange. However the concept is still interesting.
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
Yes. You can trade the shares just like any other altcoin.
To me it is analogous to a stock that pays dividends.
My best friend got into similar shares offered by Cryptorush.in. I know there's been some negative press about this particular altcoin exchange. However the concept is still interesting.
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
I'm curious, can you trade these said shares within Cryptsy just like CEX.io for mining contracts?
Every time I've tried to invest or day trade altcoins, I've lost BTC. At this point, I've lost about 0.25BTC so I decided just to buy and hold.
Today I noticed that Cryptsy is now offering shares in a mining contract that offers daily payouts. Each share costs about 0.0185BTC and the payout varies but today's was .00014941BTC per share. Not a staggering amount of return on investment but it could add up?
Date Total Distribution Per Share
2014-04-11 1.49409437BTC. 0.00014941 BTC
I'm intrigued by this concept. Buying shares of a mining contract I trust Cryptsy about as much as I trust any Bitcoin exchange (maybe a tiny little bit more). But I just don't see how I'm going to make much BTC doing this. I guess it is possible I could buy a share for .0185, and the value could go up and I could sell the share. But it could also go down and that erases any minuscule amount of Bitcoins that are generated daily through mining.
Anyone else interested in this? Anyone else thinking about investing in it?
Today I noticed that Cryptsy is now offering shares in a mining contract that offers daily payouts. Each share costs about 0.0185BTC and the payout varies but today's was .00014941BTC per share. Not a staggering amount of return on investment but it could add up?
Date Total Distribution Per Share
2014-04-11 1.49409437BTC. 0.00014941 BTC
I'm intrigued by this concept. Buying shares of a mining contract I trust Cryptsy about as much as I trust any Bitcoin exchange (maybe a tiny little bit more). But I just don't see how I'm going to make much BTC doing this. I guess it is possible I could buy a share for .0185, and the value could go up and I could sell the share. But it could also go down and that erases any minuscule amount of Bitcoins that are generated daily through mining.
Anyone else interested in this? Anyone else thinking about investing in it?
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