Does anyone have experience with mining on CEX.IO?

odolvlobo

legendary

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Quote from: batt01 on November 14, 2013, 07:35:04 AM

Fluctuating prices is what can make you money on cex.io. Example you buy 100gh for .010BTCfor a total of 10BTC and at the same time put in a sell order for .102. when it sell you now have 10.2BTC. You have Just made yourself 0.20BTC $83 bucks USD. How many times in a day/week could you find such an opportunity. There are no fees for trading ghs.

Yeah, but what if you bought at 0.100 and it never went to 0.102, and now it is at 0.090? Fluctuating prices is what can make you lose money, too.

The trend is down as the difficulty rises, so most traders are going to lose money on trades. And since traders are paying more for the shares than they will mine, they won't make back their money through mining, either.

The result is that some people will make money when they buy these shares, but most people will lose money.

batt01

sr. member

Activity: 279

Merit: 250

Quote from: ?? on ??

If you are thinking of using CEX.io then please read this.

Mining alone is unlikely to be profitable - make sure that you understand that the price will fluctuate and if it goes down you need to be mining more than the reduction in price.

Try it CEX.io, but make sure you invest enough and sell it before the price drops.

The experience of mining on there is great, and much more fun than the BFL 60Ghs that I had if done right.

Fluctuating prices is what can make you money on cex.io. Example you buy 100gh for .010BTCfor a total of 10BTC and at the same time put in a sell order for .102. when it sell you now have 10.2BTC. You have Just made yourself 0.20BTC $83 bucks USD. How many times in a day/week could you find such an opportunity. There are no fees for trading ghs.

descarte

full member

Activity: 195

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i thought its pretty confusing... website is always offline for me. I'm in sydney. wierd.

gujo82

member

Activity: 71

Merit: 10

have bought around 25gh myself there, got it to about a 3month roi on the btc investment, but that was with the value at around 200usd. Would have been much more lucrative if USD investments were possible.

still gonna keep a few gh and reinvest mining profits, see how it plays out..

AuroraHF

hero member

Activity: 784

Merit: 500

It's pretty good, I have a few GH/s there. Would anyone sign up under my referral <3?

MarketTime

full member

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Quote from: batt01 on November 14, 2013, 12:16:16 AM

Quote from: nahtnam on November 13, 2013, 11:28:16 PM

Quote from: odolvlobo on November 13, 2013, 08:30:04 PM

Before you buy GH/s on cex.io, it would probably be a good idea to figure out how much it will mine. I think you will find that 0.09 BTC will mine less than 0.06 BTC.

Yes but then you can sill it for 0.08 (or whatever the price is) once you are done resulting in a 0.05 profit!

You also can reinvest and increase you ghs. I am just about at the point I can and I ghs daily. I am trying to get to 100ghs. Im looking to sell right before the next diff increase and buy back lower. Looking for .10BTC to sell out and wait. But if price of btc busts 500, I might have to stay in.

I believe the price should drop when BTC increase right? Since its cheaper to buy mining equipment then...

batt01

sr. member

Activity: 279

Merit: 250

Quote from: nahtnam on November 13, 2013, 11:28:16 PM

Quote from: odolvlobo on November 13, 2013, 08:30:04 PM

Before you buy GH/s on cex.io, it would probably be a good idea to figure out how much it will mine. I think you will find that 0.09 BTC will mine less than 0.06 BTC.

Yes but then you can sill it for 0.08 (or whatever the price is) once you are done resulting in a 0.05 profit!

You also can reinvest and increase you ghs. I am just about at the point I can and I ghs daily. I am trying to get to 100ghs. Im looking to sell right before the next diff increase and buy back lower. Looking for .10BTC to sell out and wait. But if price of btc busts 500, I might have to stay in.

nahtnam

legendary

Activity: 1092

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nahtnam.com

Quote from: odolvlobo on November 13, 2013, 08:30:04 PM

Before you buy GH/s on cex.io, it would probably be a good idea to figure out how much it will mine. I think you will find that 0.09 BTC will mine less than 0.06 BTC.

Yes but then you can sill it for 0.08 (or whatever the price is) once you are done resulting in a 0.05 profit!

batt01

sr. member

Activity: 279

Merit: 250

I like the UI and the site is very profession looking. Merged mining is a plus. I have about 25ghs in actual hardware and 40ghs bought at Cex.io. Price per ghs is cheap if you compare to the large 400ghs miners. However its a much better deal than the other low entry cost that you can lay your hands on quickly. 1btc will get you 10ghs and you can get a ttaste of mining for a tenth of that. You can also sell you ghs and at all, some or most of you BTC back. If prices continue to rise maybe even make a profit. Some are doing well playing the ghs price swings

Having said that it may be best to just buy BTC and hold. My 20/20 hindsite tells me that I would be way ahead If I had just held the BTC that I spent on hardware. I spent 6 or 8BTC on a BFL Jalapeno that had a selling price of 249USD. If you really want to mine Cex.IO is not a bad option. You can see my stats below and click on it for more info.

dusty1

newbie

Activity: 2

Merit: 0

Difficult to win, unless you have enough to invest... play with the market as said before is a choice If you don't have that much

whitemage

full member

Activity: 214

Merit: 100

The price of cex is currently too high. It should drop soon after the cheap th/s asic come next year.

Sisseck

newbie

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One of my friends spent about 1 bitcoin on mining with CEX.IO. He sold his shares just before the last difficulty adjustment and broke even. From where I am sitting it seems like it would be very hard to make any money mining with them. If you played the market right you could buy low sell high and make money but then you are just day trading with mining shares. I am a firm believer that the best way to get bitcoin is just to buy it and not worry about mining. Just leave it to the big boys.

Undefeatable

sr. member

Activity: 286

Merit: 250

Quote from: rc-cola on November 13, 2013, 06:23:33 PM

I was thinking of purchasing a GHS on CEX.IO but I wanted to hear about the experiences that you guys have had with this site. Thank you!

You start mining immediately after you buy the GHs, and the good part is that you can sell it back whenever you want....

odolvlobo

legendary

Activity: 4466

Merit: 3391

Before you buy GH/s on cex.io, it would probably be a good idea to figure out how much it will mine. I think you will find that 0.09 BTC will mine less than 0.06 BTC.

mindfulmojo

sr. member

Activity: 448

Merit: 250

I'm trying to purchase my 1st gh/s right now... but when I deposited I had enough,

but the price went up a little while it was confirming the transaction...lol

Now I'm trying to still buy, when it dips back down..

I'm doing it just to try it out to see how it goes.. I don't know if I will profit. Huh

rc-cola

newbie

Activity: 25

Merit: 0

I was thinking of purchasing a GHS on CEX.IO but I wanted to hear about the experiences that you guys have had with this site. Thank you!

Topic: Does anyone have experience with mining on CEX.IO? (Read 1864 times)