Topic: [Not] Good price at CEX.io - page 3. (Read 49080 times)

If you use those extremely overpriced USB or other small-scale miners, then I understand your foolish calculation.
But these "kings of negative ROI" on the market are hardly a reference for mining. One would be very ill-advised to take small miners (hobbyist equipment) as an example.

And "you just have to start at the right time" (unless you intend to sell at higher or at least equal GHs price) is an invalid pseudo-argument, associated with guaranteed losses. Cex.io has never in its existence offered reasonable prices and they don't do today. Plus, without that magic crystal ball telling you "the right time" the argument becomes entirely pointless, as it obviously doesn't exist.

This very specifically is nonsense. If resale value was to be defined as "doesn't matter", it implies that the bought GHS can ROI all by themselves - which is clearly never the case on cex.io.
This statement is indeed in absolute terms, because it's true.

Price @ cex.io will eventually drop in $/GHs, so much is absolutely certain. But when that day of periodic price drop comes as usual, competing (realistic ROI-ing, not hobbyist) equipment on the market will go by far lower than cex.io as usual.

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As an example take the medium sized Antminer S1, clocking at 180GHs for (very overexpensive Amazon reseller price assumed) 1487$. Which seriously is not a good deal at all, but let's use that one simply because it's available, if one was so inclined.
That bad deal (~50% mining ROI) clocks in at 8.26$/GHs, ready to ship. Today.
That's far below your mentioned 10$/GHs, just to demonstrate what an insanely bad deal cex.io is for mining.

When cex.io reaches 0.02BTC/GHs market price, a good deal will be like 0.008BTC/GHs.
When cex.io reaches 0.015BTC/GHs market price, a good deal will be like 0.006BTC/GHs.
Cex.io will never reach a market price that will be a good deal for mining.

It's really that simple, hence stated in absolute terms. No matter how often or much you twist the numbers, the result is always the same.
Terribly bad deals in the past, terribly bad deals today, terribly bad deals projected in the future. That's cex.io mining in a nutshell.

I do accept lack of mathematical skills as an excuse for some of the bold, false statements some people made concerning cex.io mining profitability.
But the old rule still applies :
One time is an accident.
Two times is a trend.
Three times constitute hostile intent.
Four or more times is clearly a paid shill (or something even more unfriendly that I won't venture into due to netiquette).

No I don't because you foolishly answered in absolute terms.   There are time periods where mining is very profitable.   You just have to start at the right time.  That is when GHS is at a reasonable price for mining.   Then it doesn't matter what the value of GHS is later.  This last week we have see the $/GHS lower than some of the smaller hardware, ~$14/GHS.   It is possible it could drop to below $10/GHS too.  The fact that you can quickly exit mining at anytime is a huge benefit that so far isn't possible with any other site.  

It is unlikely that the $/GHS will get close to the price of ASICs in the near future, but if you have that money to spend you probably aren't looking at cloud mining.

While CEX.io is for trading, Ghast.io is for mining and they are connected.      

Edit UPDATE:  Price has just dropped below $15 / GHS again .... we may be headed for a good entry point for mining ... .02312 BTC/GHS.  Around .015 would probably be a safe entry point if we get there.   

So you take back your previous statement that was your response to a question clearly asking about profitability with mining only ?
.

Huh?  You are very narrow minded indeed.    I've never been paid by CEX.io.   However I have made BTC there.     

The price there isn't good for just mining.  But there are many ways to make BTC with the combination of trading and mining.   It isn't for everyone but at least I've used it and have some idea what I'm talking about. 

Oh, so you admit you are a paid shill. Nice to see a flash of honesty in you, didn't expect that.

If you define reality and truth as a narrow viewpoint, I'll happily stick with that.

You said there were only two answers.   That pretty much includes everyone that doesn't agree with your narrow viewpoint.   

Did I mention your name anywhere in that post (it was indeed not aimed at anyone in specific) ?
If so, give the old man a clue

Clearly someone who is totally clueless about CEX.io.    I for one never said it is profitable by just mining.   The mining is an added benefit, but it is mainly for trading.  The mining just provides additional opportunities for profit.  Also I've never posted a referral link.   

many thanks for your opinion..
this is will open my mind

And for answers without bitterness:

The value of GHS falls hard and regularly, so:
a) Yes, IF you buy and sell GHS with the right timing. This includes bots like gekko, cryptrade, and I hope mine, soon.
b) If you own mining hardware, it's good as a pool without any GHS/BTC trading.

This dude has me blocked since he's convinced I'm a liar about my cex profits, so he didn't see all my posts above that prove it's possible to profit well at cex.

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

if use cex.io for mining only. can I profit?

Ah methinks you misunderstand though: Librium doesn't need GHS to rise, ever. The exact point of it being made is because n the long run GHS steadily falls. It may in fact be more profitable in steady downslopes. The aim of it is to make sure your balances are balanced, so that at any given point (except in the middle of large candles) you can sell your GHS (slowly if you're a whale) and get out of cex with your initial deposit intact, and more. Which is more than can be said for buying GHS at cex and sitting on it for the highs, lows, and the steady drop.

It could be more efficient and more cautious. Right now it only buys/sells at the ask price, rather than making a spread of optimistic buys/sells. that's next.

Oxymoronic re src though: A bot which one fully understands the source for is a bot one could have made oneself!

*attempts to read and comprehend entire macosX and ubuntu sourcecode* ...oh.

It won't work when the market plunges.   GHS can drop several percent in an hour, pretty much straight down and never recover.    Do some backtesting you'll see it doesn't work.   Here is a place for data:  http://bitcoinwisdom.com/markets/bitstamp/btcusd

If someone manually turns it off and gets out the market during a plunge, then it should work.  

Also for anyone that wants to try a bot, my simple rule: NEVER put your API key into a bot you don't have source for and you don't understand.   That is just asking to get ripped off.   So if you try this make sure you have the source code and understand it first.  

Lol would not say "insanely" but got myself 0.5 btc while keeping same GHS. Just could not pass on skimming off top.

Note the dates. Looks like you still have a beef, because


So I'll continue to recommend cexio with the results to back it up to anyone who can read a chart and buy/sell with appropriate timing.


Such beef. So oblivious. Wow.

I don't think anyone cares about your beef.   Oh and mining at CEX has been insanely profitable the last few days.   A huge advantage is that after a plunge you can restart and instantly reinvest earnings as you go.  Price has slowly moved up from .02501 to .02929.   

As long as we're clear that you are day trading, then I don't have a beef. When newbs get encouraged to try "mining" at cex.io, I have a very specific beef.