You guys are mostly looking at it wrong.
Look at it this way on cex.io...
GH = shares of stock
mining output = dividends
Buy low, make dividends, sell high.
BTC goes down, BTC/GH goes up
Difficulty jumps, BTC/GH goes down
You buy/sell the GH like stock shares, so it's not really $60~80/gh or whatever the cost is. You can sell the GH at any time.
Topic: I cant understand cex.io investors - page 3. (Read 8379 times)
Maybe you nay-sayers are right and I haven't turned a profit at cex.io and it is all a big scam, but my wallet tells me otherwise. I don't have a single bitcent there at the moment, but my total withdrawals exceed my total inputs, and by better margins than I described previously, so I'm happy. I'm really sorry for you if you lost money by panic selling during a drop or buying on hype during a high point. That doesn't mean that everyone makes poor decisions or that the service or price is in any way flawed. I profited through the last few difficulty adjustments from you and others who did the same.
You are not getting 23% monthly. Your return drops significantly every 12 (or less) days.
You write as if you expect to get all of your initial investment back, but you won't. The price of 1 GH/s drops faster(on average) than the amount you receive as income. The price has dropped 25% in the last month, so even your exaggerated 23% was not enough to break even.
There is simply no way to make a profit at the current price. Since you lose money every time you buy cex.io, you are compounding your losses when you reinvest.
The price should be around 0.03 BTC because that is the total amount of income you will receive from 1 GH/s. Why pay 0.07 when you are only going to get back 0.03?
You can potentially make profits by trading, but trading is going to lose money on average because the price is dropping. For every trader that makes money there will at least one trader that loses money.
I urge the two of you to make a serious effort to determine the total income you will receive from 1 GH/s and then justify paying the current price for that income.
I appreciate if you think of CEX as mining, it is way overpriced and there's never going to be a positive return on investment. And that's how most mining is nowadays. But if you just treat CEX as another commodity (buy low, sell high) you can still make a profit. The extra mining income is just gravy.
At current prices, I'm up 70% in the last month or so in my CEX holdings.
I don't think anyone goes on CEX and buys a load of GHs just like that.
Most of the users probably buy a small amount, and then use the BTC made from it in a few days to buy more and more. If you buy and sell the GHs at the right times like you would for BTC itself, then it could be very profitable.
Most of the users probably buy a small amount, and then use the BTC made from it in a few days to buy more and more. If you buy and sell the GHs at the right times like you would for BTC itself, then it could be very profitable.
+1
You can make profit using CEX even if you only speculate
Or think about it this way: It is a medium to high risk investment that pays 23% interest monthly. (at 0.07/GH and today's difficulty). Slightly better if you reinvest (compound) that interest by buying additional GHS on a regular basis with your interest. Obviously the "interest" will continue declining as difficulty increases which is why over a long period of time the average returns are going to be worse because the cost/GHS will continue to decrease in line with the "interest".
Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
This is how I think of it. Instead of coins sitting in a wallet, coins at CEX are generating a slight income. And if you want to trade periodically, you can make some profits that way too.Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
You are not getting 23% monthly. Your return drops significantly every 12 (or less) days.
You write as if you expect to get all of your initial investment back, but you don't. The price of 1 GH/s drops faster(on average) than the amount you receive as income. The price has dropped 25% in the last month, so even your exaggerated 23% is not enough to break even.
There is simply no way to make a profit at the current price. Since you lose money every time you buy cex.io, you are compounding your losses when you reinvest.
The price should be around 0.03 BTC because that is the total amount of income you will receive from 1 GH/s. Why pay 0.07 when you are only going to get back 0.03?
You can potentially make profits by trading, but trading is going to lose money on average because the price is dropping. For every trader that makes money there will at least one trader that loses money.
I urge the two of you to make a serious effort to determine the total income you will receive from 1 GH/s and then justify paying the current price for that income.
Sshhhh. Quiet. You'll let the cat out of the bag.
Or think about it this way: It is a medium to high risk investment that pays 23% interest monthly. (at 0.07/GH and today's difficulty). Slightly better if you reinvest (compound) that interest by buying additional GHS on a regular basis with your interest. Obviously the "interest" will continue declining as difficulty increases which is why over a long period of time the average returns are going to be worse because the cost/GHS will continue to decrease in line with the "interest".
Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
This is how I think of it. Instead of coins sitting in a wallet, coins at CEX are generating a slight income. And if you want to trade periodically, you can make some profits that way too.Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
You are not getting 23% monthly. Your return drops significantly every 12 (or less) days.
You write as if you expect to get all of your initial investment back, but you won't. The price of 1 GH/s drops faster(on average) than the amount you receive as income. The price has dropped 25% in the last month, so even your exaggerated 23% was not enough to break even.
There is simply no way to make a profit at the current price. Since you lose money every time you buy cex.io, you are compounding your losses when you reinvest.
The price should be around 0.03 BTC because that is the total amount of income you will receive from 1 GH/s. Why pay 0.07 when you are only going to get back 0.03?
You can potentially make profits by trading, but trading is going to lose money on average because the price is dropping. For every trader that makes money there will at least one trader that loses money.
I urge the two of you to make a serious effort to determine the total income you will receive from 1 GH/s and then justify paying the current price for that income.
I don't think anyone goes on CEX and buys a load of GHs just like that.
Most of the users probably buy a small amount, and then use the BTC made from it in a few days to buy more and more. If you buy and sell the GHs at the right times like you would for BTC itself, then it could be very profitable.
Most of the users probably buy a small amount, and then use the BTC made from it in a few days to buy more and more. If you buy and sell the GHs at the right times like you would for BTC itself, then it could be very profitable.
Or think about it this way: It is a medium to high risk investment that pays 23% interest monthly. (at 0.07/GH and today's difficulty). Slightly better if you reinvest (compound) that interest by buying additional GHS on a regular basis with your interest. Obviously the "interest" will continue declining as difficulty increases which is why over a long period of time the average returns are going to be worse because the cost/GHS will continue to decrease in line with the "interest".
Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
Don't think of it as buying mining power but rather from the investment/returns perspective and it makes a lot more sense.
I've seen posts where people say the GHS price should be 0.03. If someone was offering you an investment that made better than 10%/week and was backed, at least somewhat, by a company rather than some guy with a hammer that would break kneecaps of debtors if they didn't pay that would be pretty popular, hence the current cost.
This is how I think of it. Instead of coins sitting in a wallet, coins at CEX are generating a slight income. And if you want to trade periodically, you can make some profits that way too.
Ask a stupid question but what's the best alternative to cex.io?
I'm selling my mining hardware and buying Gh at cex as the value of my hardware has gone up, Australian electricity costs are stupidly high and my internet is unreliable at best. (Internet goes down and my miners are doing jack.)
I'm selling my mining hardware and buying Gh at cex as the value of my hardware has gone up, Australian electricity costs are stupidly high and my internet is unreliable at best. (Internet goes down and my miners are doing jack.)
Some people seem to think that they have to mine, even if it is at a loss. The obvious alternative to cex.io is to do nothing.
or to buy bitcoins
Is mining alternative coins in the same boat as mining bitcoin? Was reading about how one guy moved from bitcoin to Litecoin and ended up mining about 30% more...
Ask a stupid question but what's the best alternative to cex.io?
I'm selling my mining hardware and buying Gh at cex as the value of my hardware has gone up, Australian electricity costs are stupidly high and my internet is unreliable at best. (Internet goes down and my miners are doing jack.)
I'm selling my mining hardware and buying Gh at cex as the value of my hardware has gone up, Australian electricity costs are stupidly high and my internet is unreliable at best. (Internet goes down and my miners are doing jack.)
cex.io is the fastest & safest way for newbie to enter bitcoin mining. You get launched right away, get to see how a mining pool operates and can exit at any time. Plus the convenience of buying fractional GH/s amounts with guaranteed 100% uptime. That should be enough to understand the economics of mining and give you an idea how much you’d be making if purchasing a “real” miner.
That sounds nice, but I think most people that buy cex.io expect to make money. At least in the end they learn something -- the hard way.
cex.io is the fastest & safest way for newbie to enter bitcoin mining. You get launched right away, get to see how a mining pool operates and can exit at any time. Plus the convenience of buying fractional GH/s amounts with guaranteed 100% uptime. That should be enough to understand the economics of mining and give you an idea how much you’d be making if purchasing a “real” miner.
agree, pay more for the convenience
cex.io is the fastest & safest way for newbie to enter bitcoin mining. You get launched right away, get to see how a mining pool operates and can exit at any time. Plus the convenience of buying fractional GH/s amounts with guaranteed 100% uptime. That should be enough to understand the economics of mining and give you an idea how much you’d be making if purchasing a “real” miner.
most of them are clueless , they just want to enter the mining game.
I've profited using Cex.io the past month or so. I bought 2 GH/s for around 0.078 originally and sold at .085 a week later after collecting mining payments. I've currently got about .12 GH going, but with my referrals I almost have a free GH running at no cost.
I really like the site it's easy, fast and the merged mining with Devcoins, Namecoins, etc. is a nice bonus.
I really like the site it's easy, fast and the merged mining with Devcoins, Namecoins, etc. is a nice bonus.
Consider this scenario.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
Ok, I think you are right but, it isnt the same the last week? you can trade and blablabla but the price was better than this week.
The price isn't as relevant as you would think if you're trading. Volume and price fluctuations matter. If you haven't noticed theres a significant premium being paid on hardware at the moment as well. There is what is being asked, and there is getting it setup functioning and mining in your location on whatever pool you choose. CEX makes this very simple, but like most companies looking to make a profit, they don't do it for free.
I thought I was paying a significant premium for my asicminer blades. Only to find out they're already selling for twice and more than what I paid for them.
They're only selling for more in fiat. I guarantee they're worth less BTC now. Would have been better to buy BTC
I bought today 4 hours ago because in fiat is close to what I think is its price
Consider this scenario.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
Ok, I think you are right but, it isnt the same the last week? you can trade and blablabla but the price was better than this week.
The price isn't as relevant as you would think if you're trading. Volume and price fluctuations matter. If you haven't noticed theres a significant premium being paid on hardware at the moment as well. There is what is being asked, and there is getting it setup functioning and mining in your location on whatever pool you choose. CEX makes this very simple, but like most companies looking to make a profit, they don't do it for free.
I thought I was paying a significant premium for my asicminer blades. Only to find out they're already selling for twice and more than what I paid for them.
They're only selling for more in fiat. I guarantee they're worth less BTC now. Would have been better to buy BTC
cex.io investors is same as those that buy expensive miners in the market now... they don't understand difficulty...
Consider this scenario.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
I have 1 btc. I buy some ghs on the exchange for say .07btc per ghs. i mine with it for a few days I make some more btc with it. Then sell my position in the exchange because the price of ghs went up to .075.
Its like getting dividends. Also you can trade on the exchange 24 hours a day.
Its not as simple as buy cloudmining from bfl that doesnt even start yet.. it starts right away.
Mind you, it isnt perfect, but you dont have to wait on a preorder set it up wait for shipping pay for electricity, keep your cat off your miner.. etc. it just works.
so that piece of mind is worth a premium alone, but you also get to make profits trading too should you be so inclined.
i lost about 20% there and pulled out. theres serious price manipulation going on. but if youre paying attention you can profit from it too.
Ok, I think you are right but, it isnt the same the last week? you can trade and blablabla but the price was better than this week.
The price isn't as relevant as you would think if you're trading. Volume and price fluctuations matter. If you haven't noticed theres a significant premium being paid on hardware at the moment as well. There is what is being asked, and there is getting it setup functioning and mining in your location on whatever pool you choose. CEX makes this very simple, but like most companies looking to make a profit, they don't do it for free.
I thought I was paying a significant premium for my asicminer blades. Only to find out they're already selling for twice and more than what I paid for them.
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