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Topic: Just bought GHash's from CEX is that a good idea? - page 3. (Read 2539 times)

donator
Activity: 1218
Merit: 1079
Gerald Davis
shit... over 100% increase? and for at least 6 months?

Probably not but it won't help.  Looking at those estimates just as a ballpark view you see that most of gross revenue will come in the next 2 months and difficulty is almost certainly going to quadruple by the end of the year.   The growth MAY (or may not) slow down after that but by then you are looking at 0.01 BTC per month so even lets say it slows down to only 50% growth per month so you make a couple more months at 0.01 BTC and then a couple more at 0.005 BTC and then a couple more at 0.0025 BTC.  In the long run it doesn't change the gross revenue much.

I would point out that $18 per GH is just insanely overpriced.   It is like saying is a Prius a bad deal at $2,800,00 ea?  Won't I show a profit from the reduced gas consumption?

Miners paying <$5 per GH are unsure if they will show a profit (and they may or may not there are a lot of unknowns).  $18/GH is just taking your money and lighting it on fire hoping it will produce a profit.
member
Activity: 168
Merit: 10
probably you will get 0.07-0.09 btc back in next 3 months. And it'll not make money later on and you'll sell it for almost 0.
legendary
Activity: 1680
Merit: 1205
cex.io seemed to me a good investment... according to this calculator http://www.coinish.com/calc/, if i buy 1000 mh/s for 18 $ the break-even is 69 days and total income 76$/year, what am i doing wrong?

You are assuming difficulty will be flat forever when in reality it is rising >100% per month.

A crude guesstimate @ 100% month over month growth:
http://mining.thegenesisblock.com/a/15fb55ff8a

Over the last 90 days it has been closer to 130% month over month growth:
http://mining.thegenesisblock.com/


A meta question.
If you had a widget which you could sell for $18 but would be worth (residual value + payments) >$36 in 70 days would you sell?  Would anyone?  
Why wouldn't they wait 70 days and double their value?  
If you had a widget you could pawn off on a sucker that at best will produce $16 in gross revenue and more likely produce <$8 would you sell it?
Which scenario seems more like CEX?

shit... over 100% increase? and for at least 6 months?
Regarding the metaquestion: I thought cex.io was about attracting investments and earning BOTH on fees and mining. If they're not mining by their own, you're right


donator
Activity: 1218
Merit: 1079
Gerald Davis
cex.io seemed to me a good investment... according to this calculator http://www.coinish.com/calc/, if i buy 1000 mh/s for 18 $ the break-even is 69 days and total income 76$/year, what am i doing wrong?

You are assuming difficulty will be flat forever when in reality it is rising >100% per month.

A crude guesstimate @ 100% month over month growth:
http://mining.thegenesisblock.com/a/15fb55ff8a

Over the last 90 days it has been closer to 130% month over month growth:
http://mining.thegenesisblock.com/


A meta question.
If you had a widget which you could sell for $18 but would be worth (residual value + payments) >$36 in 70 days would you sell?  Would anyone?  
Why wouldn't they wait 70 days and double their value?  
If you had a widget you could pawn off on a sucker that at best will produce $16 in gross revenue and more likely produce <$8 would you sell it?
Which scenario seems more like CEX?
legendary
Activity: 1680
Merit: 1205
cex.io seemed to me a good investment... according to this calculator http://www.coinish.com/calc/, if i buy 1000 mh/s for 18 $ the break-even is 69 days and total income 76$/year, what am i doing wrong?
hero member
Activity: 756
Merit: 500
Dude you have done something seriously bad really really bad! worst ever!
uk1
copper member
Activity: 546
Merit: 500
dont forget the extra cost
How much is the maintenance fee? When will it be implemented?

    We are planning to implement the maintenance fee starting from November 1st. The amount is still being decided, the approximate cost will be $0.001 per GHS / hour.
https://www.cex.io/faq

signup with my link if you want https://cex.io/r/0/uk1/0/
newbie
Activity: 5
Merit: 0
Thanks for the feedback BTC Legend  Cheesy
donator
Activity: 1218
Merit: 1079
Gerald Davis
Probably not and nobody wants your affiliate spam.

Might have been smart to ask/read first.   $18 per GH is insanely overpriced and you almost certainly will lose 50% to 90% of that unless you find a ... http://en.wikipedia.org/wiki/Greater_fool
newbie
Activity: 5
Merit: 0
Hi all , I'm new to the BTC business and came across an ad for buying 1 Ghash for 0.1BTC with CEX.io and they do the mining so I signed up. Is that the way to go?
Thanks

mod note: ref spam removed
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