Topic: Is everyone on ebay completely crazy? (Read 2138 times)
When buying miners, many people dont calculate ROI, they just want to enter and try the BTC. Thats why so huge prices some people willing to pay
I would not recommend buying any mining hardware on ebay before knowing exactly what you are doing.
Otherwise Cloud mining could be an option
Otherwise Cloud mining could be an option
With the price going so high so fast I bet there is some hysteria around BTC. You are doing the math, which is good and rational, but sometimes people aren't thinking with their head and they just want to make BTC and don't factor in electricity. Or maybe they have "free" electricty, I don't know. Or they might bet the price will continue to rise and that's how they're playing it instead of buying more BTC.
Fortunatelly the electricity is only small percentage of the mined Bitcoin, so you dont need to factor electricity now, but next year will be different and some ASIC miners wont pay even electricity cost
I wish I bought some Infinitecoins off ebay for £3 for a million now. They're still worthless but people seem to be going nuts for them on ebay. I don't understand it.
If the scammer is doing a chargeback why would he care what money he is putting up for the outlay. It just makes the poor seller just more eager to ship.
Too bad eBay won't let you know which transactions are actually successful.
Too bad eBay won't let you know which transactions are actually successful.
I think there's a lot of scammers on ebay, that's why they will pay high mate. Other than that I think a lot of ebayers don't know where to go to buy these things so they pay silly money for the convenience of ebay.
You're right though, things do go for 3-4x their value and sometimes more but that's nothing you don't see here everyday as well. People with more money than sense, stay the sensible one.
You're right though, things do go for 3-4x their value and sometimes more but that's nothing you don't see here everyday as well. People with more money than sense, stay the sensible one.
They are not crazy. They are trying to make money, profiting from bad knowledge of people.
Ordering miners and selling at ebay when received is best way to profit for long time
Ebay prices reflect the market demand, many people not familiar with bitcoin wrongly assume they'll make some good profit by getting into mining at any cost. I am sure there are other types of goods that sell 10x times its purchase value.
The thing about eBay is it is probably the fastest, cheapest and easiest way to get into bitcoin from absolutely nothing. And depending on when you buy the BTC it can be 10% more or 100% more.
They are not crazy. They are trying to make money, profiting from bad knowledge of people.
It's up to you don't get caught in their net.
It's up to you don't get caught in their net.
With the price going so high so fast I bet there is some hysteria around BTC. You are doing the math, which is good and rational, but sometimes people aren't thinking with their head and they just want to make BTC and don't factor in electricity. Or maybe they have "free" electricty, I don't know. Or they might bet the price will continue to rise and that's how they're playing it instead of buying more BTC.
people want to be part of the craze.. of course.. i bought a jalapeño and it took 8 months to ship.
ebay is a scammers dream. I avoid that website at all costs.
scammers are also here and everywhere else, just have to be careful.
I bought 14 ASIC block Eruptors USBs for £160 GBP a few months ago, so far they have mined me 0.19055526 BTC and about 200,000 ASIC coins and 600 OSC.
Never thought they would make the ROI, just think they are cool - I make more using my GPU rigs and 6x Dell 2950 servers mining FTC/LTC/FST/RED coins! then trading for either LTC or BTC then trading on BTC-E.
Took out over $1k in the last week when BTC/LTC was high.
Never thought they would make the ROI, just think they are cool - I make more using my GPU rigs and 6x Dell 2950 servers mining FTC/LTC/FST/RED coins! then trading for either LTC or BTC then trading on BTC-E.
Took out over $1k in the last week when BTC/LTC was high.
fixed that for ya
As a recent Bitcoin convert (end of October 2013), I have participated in frenzy, having been intermittently fleeced along the way.
However, in the short 6 weeks or so I have been in the market, the chance of finding a square deal on eBay has plummeted.
My first forray into mining was a 24hour BFL jalapeno contract, which has not payed for itself, even with the price increase, and certainly was nowhere close to paying for itself 6 weeks ago, but it did not matter because I was a consenting adult looking to learn about mining.
Yesterday I saw contracts for 1 hour of mining at various speeds... 1 HOUR.. charging 30-50 dollars!
Indeed, you have to wonder about the possible money laundering aspect..
However, in the short 6 weeks or so I have been in the market, the chance of finding a square deal on eBay has plummeted.
My first forray into mining was a 24hour BFL jalapeno contract, which has not payed for itself, even with the price increase, and certainly was nowhere close to paying for itself 6 weeks ago, but it did not matter because I was a consenting adult looking to learn about mining.
Yesterday I saw contracts for 1 hour of mining at various speeds... 1 HOUR.. charging 30-50 dollars!
Indeed, you have to wonder about the possible money laundering aspect..
I will say be wary of the contracts on eBay. This is my correspondence to one seller of one:
Quote
Dear caminilegroup,
Hi,
Thank you for your email. One thing that you are missing in your calculations is the expense side of things. Please know that eBay takes 10%, PayPal 4%, the cost of equipment $16,000 and the cost of 10 amps running at 24 hours.
I just wanted to give you the full picture and not just the revenue side of things. Also please note that we charge about a third of the price per hash rate as the closest competitor on here. Yes, we make a profit, but isn't that why we are all here on eBay?
Cheers,
George
- ca_blacklab
Click "respond" to reply through Messages, or go to your email to reply
Respond
From: caminilegroup
To: ca_blacklab
Subject: Other: caminilegroup sent a message about 240 GH/s Bitcoin BTC Mining Contract By The Hour ( Butterfly Labs 60 / Single ) #161166633885
Sent Date: Dec-05-13 07:06:28 PST
Dear ca_blacklab,
24 Hours is 718 dollars to you with only ~118 in mining. An hour of mining will net ~0.00710914083333 with at current price is $7 USD. You're pretty much stealing at your price.
- caminilegroup
240 GH/s Bitcoin BTC Mining Contract By The Hour ( Butterfly Labs 60 / Single )
240 GH/s Bitcoin BTC Mining Contract By The Hour ( Butterfly Labs 60 / Single )
Item Id: 161166633885
End time: Jan-02-14 14:46:46 PST
Seller:
ca_blacklab (1208)
100.0% Positive Feedback
Member since Aug-08-00 in United States
Location: CA, United States
Listing Status: This message was sent while the listing was active.
You have to do the math, and then you realize you will not ROI. This guy is basically stealing, and doesn't care.
Guys be very careful of sellers on Ebay.
Once a friend of mine order a power supply unit and all he got was a metal case filled with sand!
Once a friend of mine order a power supply unit and all he got was a metal case filled with sand!
Those that buy on eBay will complain about excessive prices... but those of us that sell complain of other reasons...
I sold a BFL asic for ~3k USD and those crooks over at eBay charged me $250 in final value fees... so of course things are going to cost more, especially since demand determines the price, and items are worth what people are willing to pay (which can be more or less actual value).
I sold a BFL asic for ~3k USD and those crooks over at eBay charged me $250 in final value fees... so of course things are going to cost more, especially since demand determines the price, and items are worth what people are willing to pay (which can be more or less actual value).
I'm not complaining about the price increase. I bought it because I wanted them and it is what it is. With bitcoin going back up I expect to pay the same if not a little more per blade next time.
I understand where you are comming from. My post was generally speaking, not directed towards anyone in particular
Oh I know, I wasn't bashing or anything.
I bought 14 ASIC block Eruptors USBs for £160 GBP a few months ago, so far they have mined me 0.19055526 BTC and about 200,000 ASIC coins and 600 OSC.
Never thought they would make the ROI, just think they are cool - I make more using my GPU rigs and 6x Dell 2950 servers mining FTC/LTC/FST/RED coins! then trading for either LTC or BTC then trading on BTC-E.
Took out over $1k in the last week when BTC/LTC was high.
Never thought they would make the ROI, just think they are cool - I make more using my GPU rigs and 6x Dell 2950 servers mining FTC/LTC/FST/RED coins! then trading for either LTC or BTC then trading on BTC-E.
Took out over $1k in the last week when BTC/LTC was high.
As a recent Bitcoin convert (end of October 2013), I have participated in frenzy, having been intermittently fleeced along the way.
However, in the short 6 weeks or so I have been in the market, the chance of finding a square deal on eBay has plummeted.
My first forray into mining was a 24hour BFL jalapeno contract, which has not payed for itself, even with the price increase, and certainly was nowhere close to paying for itself 6 weeks ago, but it did not matter because I was a consenting adult looking to learn about mining.
Yesterday I saw contracts for 1 hour of mining at various speeds... 1 HOUR.. charging 30-50 dollars!
Indeed, you have to wonder about the possible money laundering aspect..
However, in the short 6 weeks or so I have been in the market, the chance of finding a square deal on eBay has plummeted.
My first forray into mining was a 24hour BFL jalapeno contract, which has not payed for itself, even with the price increase, and certainly was nowhere close to paying for itself 6 weeks ago, but it did not matter because I was a consenting adult looking to learn about mining.
Yesterday I saw contracts for 1 hour of mining at various speeds... 1 HOUR.. charging 30-50 dollars!
Indeed, you have to wonder about the possible money laundering aspect..
Prices at ebay are high, when I use mining calculators you cant mine the dollars back unless Bitcoin price rises. I guess everyone speculate on Bitcoin price rise...
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