Topic: Mining with CEX.IO or why do I not believe skeptics - page 5. (Read 22076 times)
Hi Kickbit, on your calculator site you reference "* GHs sell price - is the lowest price for which you can sell GHS and cover your losses." but I can`t find it on the page?
@Timetwister:
Where can you buy GHash cheaper and comparably safe and easily tradable? I`m not talking about ASIC miners being delivered (or not), but cloud mining like cex.io?
Where can you buy GHash cheaper and comparably safe and easily tradable? I`m not talking about ASIC miners being delivered (or not), but cloud mining like cex.io?
I don't care if you can or not buy them for less, but actual Cex.io prices are too high. Those buying are basically betting that difficulty will increase at less than 20% per month (or planning to sell to bigger suckers).
Did you read the article?
I just bought some ghashes, sold them, got some profit. That's simple.
And btw I did the same few days ago. I bought 100 Ghashes. And prices are going down again. I hope I wouldn't lose any btc this time
And of course, any exchange is a game. You can loose or win.
@Timetwister:
Where can you buy GHash cheaper and comparably safe and easily tradable? I`m not talking about ASIC miners being delivered (or not), but cloud mining like cex.io?
Where can you buy GHash cheaper and comparably safe and easily tradable? I`m not talking about ASIC miners being delivered (or not), but cloud mining like cex.io?
I don't care if you can or not buy them for less, but actual Cex.io prices are too high. Those buying are basically betting that difficulty will increase at less than 20% per month (or planning to sell to bigger suckers).
Since 1T TO3T MINER ON THE WAY AVAILABLE, THE CEX PRICE MUST BE DOWN.
TONIGHT IS 0.062BTC LOW
TONIGHT IS 0.062BTC LOW
The payout is PPLNS so you will continue to see a diminishing payout on GH/s that were sold for approx 12 hours. Ghash.io is a damn good pool, I love the shareholder feature for managing group-buy hardware payouts. I bought some GH/s initially but since sold them when the price was right. Still have a few GH/s from referral and acquired from trading NMC. Really the price of a GH should be around .04btc right now, so it is expensive ~ but people are willing to pay a premium for not having a houseful of loud hot miners.
It's like a pyramid scheme. Only reason you're making money is by conning someone else. This is fraud. Last person holding your worthless ghs loses. Hot potato anyone?
How would pouring more money into it help to break even? You would be just investing your profit in addition to the original money, why would it be easier to break even with that? So no, it does not help.
Yes, sorry, I "calculated" in BTC terms as I consider NMC etc do be worthless "addons"...and the reinvestments in GHash let the cash flow grow and the price drop might be overcompensated...some wishful thinking...
By the way: when you sell GHash, who gets the rewards from the mining jobs they already started but that haven`t been finished yet? When you buy GHash, you only get the "new" rewards, don`t you? I guess cex.io get`s this difference?
I see getting paid every time the Ghash.io pool finds a block, so the rewards go to whomever that's holding the Gh/s when a block is found. So if you sell the mining power, you won't get anything for the time after the last block found by the Ghash pool. But blocks are found so often that it isn't really significant.
In long term man has to sell ghs out otherwise there must be a big loss, three months for bitcoin mining industry is long term. Trading, mining and meanwhile well prepared to escape 
the only way you can make a profit at cex is by trading.
How would pouring more money into it help to break even? You would be just investing your profit in addition to the original money, why would it be easier to break even with that? So no, it does not help.
Yes, sorry, I "calculated" in BTC terms as I consider NMC etc do be worthless "addons"...and the reinvestments in GHash let the cash flow grow and the price drop might be overcompensated...some wishful thinking...
By the way: when you sell GHash, who gets the rewards from the mining jobs they already started but that haven`t been finished yet? When you buy GHash, you only get the "new" rewards, don`t you? I guess cex.io get`s this difference?
And what if you keep reinvesting the payouts inluding those altcoins (nmx, ixc and dvc)?
How would pouring more money into it help to break even? You would be just investing your profit in addition to the original money, why would it be easier to break even with that? So no, it does not help.
Only if difficulty keeps climbing at this pace, right? That`s something I don`t quite get in general...it`s a pity that simply buying bitcoins is so much more profitable than investing in the infrastructure. I also like having a (small) btc cashflow and supporting the network, it really sucks that you loose big time if you do that instead of simply hoarding the coins.
It's b/c Cex.io allows increase in liquidity so that it becomes more valuable. Being able to sell the GHS at any moment, gives it the higher value. Hence, if you're in it for the long term, it makes more sense to do a group buy from a trusted person or just outright buy a miner from one of the big names (I would avoid BFL).
I tend to buy right after a difficulty change from Cex.io, hold and sell about .5 or .7 times through to next difficulty change. Seems to be a working formula. I might keep some BTC for buying low and selling high if the opportunity presents itself...but this requires time and effort (day trading). Not all of us have the time while holding a day job.
Only if difficulty keeps climbing at this pace, right? That`s something I don`t quite get in general...it`s a pity that simply buying bitcoins is so much more profitable than investing in the infrastructure. I also like having a (small) btc cashflow and supporting the network, it really sucks that you loose big time if you do that instead of simply hoarding the coins.
And what if you keep reinvesting the payouts inluding those altcoins (nmx, ixc and dvc)?
You will end up losing as well, big time.The only way to make profit with cex.io is by trading, buy low and sell high.
And what if you keep reinvesting the payouts inluding those altcoins (nmx, ixc and dvc)?
Holding GHS long term is not part of this game. You end up losing big. It's very hard to ever break even holding the GHS on cex.io.
Your post is quite contradictory, you're saying you don't believe those who say it's not profitable to hold and you must trade the Gh/s in order to make a profit and yet you are doing just that. Next time you buy Gh/s, just hold them and wait until you break even. I would not say holding for two weeks or a month is very long term.
You still have to pay electricity buying hash from cex.io. It is already priced in
Yes, but they have pretty low prices
Quote from: Macno
/Share: 0.000000000862, Fee: 0.00000001
The earnings look much lower than the fee, this is probably why your earnings are a minus,Add some more hashing power to break out of that cycle or point some mining power at their private pool to boost your share.
Renting a suitable environment to put your rig has also been priced in, I hope... if I could, I would host a majority of my mining power in the cloud, but I've already have some physical miners that need maintenance.
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