Topic: [Not] Good price at CEX.io - page 12. (Read 49080 times)

That is a very interesting concept! 

Could a true GHs exchange be developed? Cex.io owns the whole sell side. (lol). A true exchange would have miners able to actually sell into the exchange. Obviously they would have to be held to a contract and would only have funds freed when they had delivered their promise.

yes! ghs on cex are the opposite of bitcoin! price will go mathematically down

Wonder why nobody is using the cex.io calculator

Assumptions
100 GHs
1800 diff start (tomorrow)
2% diff increase/day

                 Diff                   Profit Profit cumulated
Jan-14    1800    895    0.84    0.81    0.81
Feb-14    3150    1566    0.48    0.45    1.27
Mar-14    5513    2740    0.28    0.25    1.51
Apr-14    9647    4796    0.16    0.13    1.64
May-14    16882    8392    0.09    0.06    1.70
Jun-14    29544    14686    0.05    0.02    1.72
Jul-14    51701    25701    0.03    0.00    1.72
Aug-14    90477    44977    0.02    -0.01    1.71
Sep-14    158335    78710    0.01    -0.02    1.69
Oct-14    277086    137742    0.01    -0.02    1.67
Nov-14    484901    241049    0.00    -0.03    1.65
Dec-14    848577    421836    0.00    -0.03    1.62

Tells you 1 GHs is max 0.017 btc and the price of 1 Ghs will be 0 btc in Jul 2014.

I lost money on cex.  the price of gh/s keeps dropping and dropping.  The only rise is only on a short term day chart.   was at .06 getting in......seen it go down .02 on bad news about China a few weeks back. Sold at .044 taking a loss.

Didn't feel the reward was good enough for how much money you would need to spend in order to have enough gh/s power to make it worthwhile.  

for me......cex was a bust.  There are better mining contracts out there. The mining payout was pretty low when you have to pay 3% pool fees.

I thought the concept was a great idea for a noob who had no mining equipment (yet).  I learned my lesson and took my losses and moved onto bigger and better things with my own mining equipment.

$$HAPPY MINING$$

And that, ladies & gentlemen, is your typical "snake oil seller's" sales pitch in the financial world.
Too many salesmen out there is more like it truly is.

In order to "pull out 0.5 coins" in a single day, you'd need to rent approx. 1500GHs - that's a 60 BTC investment that cumulates into losing you (no active and successful BTC trading) roughly 0.2 BTC each day as of now.
That's the dirty secret they don't tell you and not even cex.io's ~100% overpriced GHs will get you a total final ROI of more than ~60% of your entire investment after cashing out after a month or longer.
And that's with every BTC/Merged mining fully reinvested, otherwise things look even worse.

I've read those biased "stories" about doubling your money in a month etc... After picking a simple calculator, those stories quickly turned into what they really were - heavily biased fairytales (I agree though, a 40% loss requires pretty thick bias and LOTS of misleading details to cover up).

In short, nothing but blatant lies to lure unsuspecting victims into their realm - preferrably via their cex.io referral program links.

It IS profitable yes... but only for cex.io, that rent out to fools @ over double the price their GHs is worth...

Very well said. Too many haters out there. Its profitable I promise, I have been in only a day and have managed to pull out .50 coins. Tell me thats not a good profit for a days work even if I never go back and I will have to call you Mr. McMoneybags:)


EDIT+
Also another thing not taken into account is the merged mining that happens. I read a guys post a few days ago that started with .02 coins a few months ago and wrote a program to reinvest his mined coins into GHs and he had almost doubled his money in a month and tripled in 2..so thats my friends in the financial world is called a good investment.

I would disagree, the difficulty does have an effect on the price of BTC. Maybe not directly, or intentionally, but it would appear that many casual miners give up as it gets more difficult to mine. The hardware they have does not make it cost effective. Which leads to less flooding of the market with low prices.

I am sure we will see such behaviour again with the next wave of miners. All the current 65nm tech will be next to useless, it will probably cost more to run them than they will generate.

As for cloud hashing / cex.io, assume you bough 1 GH/s @ 0.049 BTC, mined for 2 weeks, then sold it again for the same(ish) price you paid for it. You would have make a profit...without the expense of the hardware.
Ok, not much profit, but some.
Will the cost per GH/s continue to climb? I don't think so. But then again when there is only limited hardware available, other 'cloud hashing' companies turn out to be scammers, little point buying 65mn tech when it will be obsolete in 2/3 months, and cex are limiting their hardware to prevent exceeding 51%, who knows...anything could happen over the next few months.

In my opinion, the cost per GH/s should not be compared to the revenue it generates, but should be compared with the cost of equivalent hardware (factoring in delivery times, etc).
All being well, you can sell you GH/s back and recover some, if not all, of your investment.

All interesting, but missing a slight point. When the difficulty goes up, and new hardware comes out, many people stop mining...and the value of BTC increases.
If it doesn't, there really is no point in buying hardware anymore.
Imagine ordering a next gen miner, lets say 2THs. You probably won't get it before May. Going by the predicted revenue you would only earn about 1.5 BTC....and the hardware would cost you 6 BTC.

EDIT: Let me just add, I understand cloud hashing will never be good value compared with owning the equipment, but when you take into account delivery times, product failures, scammers, it can be a way to make some BTC.

Let me know the profitable vanues?

Thanks

I think he thinks that to maximize your profits you wouldn't want to kill the BTC network, and I think I agree. 

To calculate your profit use: http://mining-profit.com/
It was made it special for cex.io and cloud mining.
And it has pretty accurate increase coefficients.

Can I have your Bitcoins?

Since BTC is being killed, you will have no use for them. Blaming someone for trying to maximize their profit is pissing against the wind. OR you may want to get off your high horse and use your advanced skills to develop new concepts how to make bitcoin network more resilient.

Hint: I sold my CEX shares because I found more profitable bitcoin venues - NOT because some wise internet oracle told me I was killing BTC through lack of understanding concepts.

People like yourself that have no concept of how things work are what is killing BTC anyway.

To simply check your mining profit per difficulty adjustment, visit http://btc.re/miningcalc

i see..

This number are bit different than the CEX calculator...

Well i must be luckly, i have 65 gh/s for free at CEX.IO and the rest are my own miners in there pool

That's approximately what you get for your investment (based on their current "low" price/GHs and the example/assumption of it being all cloud mining) :


You better be full of hope that your GHs resale price make up for that >60% shortfall in profitability (hint : it won't by a far margin)....
And that delta is exactly what cex.io is living off... Skimming 20-30% off its customers while cex is running its own hardware @ true cost (which is far below what their customers pay).
You could call it a ~25% customer fee if you like (the price of the convinience you have mining with their rented GHs).

Legit but designed for people who are bad at or can't be bothered with math - but have deep and forgiving pockets.
Their prices are so bad, not even merged mining @ full reinvestment of BTC/NMC/DVC/IXC could remotely recoup the total investment. If you did that till the end of time, your total net worth would approach 0. It's a money-making machine for them, a money-burning machine for the customer.
And since you need to stay fully invested with them if you want all those GHs hashing for you, the term "counterparty risk" comes to mind. They have none and all your BTC, you hold nothing in your hands and carry all the risks. In the Investment world, that is called a worst-case scenario.
When the music stops playing, even the most math-disabled/convinient people will very quickly find out what these terms mean in the real world.

Translated into another format :
If cex.io was your Investment strategist with a business plan, you'd be better off firing him - because he's losing your money (which he pockets) every single day.

-- edit --
Forgot one thing :

What I do like about them is their exchange functionality, no trade fees are and withdrawal fees seem very acceptable compared to other exchanges.

Yep is now a far price :-)