Topic: [Not] Good price at CEX.io - page 8. (Read 49095 times)

I think the real value will come when you can switch it to mine other coin pools.

Shocking.

I see a closing price of 0.0344BTC/GHs, turns out we weren't lucky at all. That's about a 8% loss for 1 month based on the original scenario *.
Technically, we're already in close reach of what would be minimum required for end of Feb 2014 already (!).
Right now, I think my Feb 2014 statement is easy to hold, the realized 8% loss generated in Jan when invested and not successfully trading at cex.io will very likely increase further next month.

* Scenario :
Rent GHs at cex.io in early Jan 2014 and fully re-invest everything mined (merged mined NMC/IXC/DVC is approximated by assuming an additional 2% mining output, as I lack/forgot the exact figure).
Personal prediction :
Progressive and cumulating losses over increasing timeframes, above prices are minimum resale GHs prices to avoid a net loss (negative ROI).

lol .034 now

CEX is mainly about GHS price speculation, mining is not more than a side income. It is certainly not long term investment! If you buy GHS after a dump and sell it on a high it gives you good profit, but you must be all over it.

You did absolutely the right thing - recognized a mistake, took action and booked losses before they became more severe (which they do with increasing timeframe).
Just imagine you had bought @ 0.075BTC/GHs about two months ago and held on until today - your losses would be far greater. This is how their game of skinning the unsuspecting sheeple works, the longer they stay, the more profit cex.io is skinning off them.

The only way to profit at cex.io is to successfully daytrade GHs AND be lucky when it counts.
The next best way to profit is simply not to invest at cex.io basically.

NOT recommend. I did some investiment in it, about 24 BTC. The mining profit is just less than the price falling, seeing a falling from initial 0.046GH/BTC to about 0.039GH/BTC, and now it is 0.038. I now sold all of GHs and withraw all out. Don't want go back. I lost about 1 BTC.

Anyone can tell me if I am wrong, or if there is a way to get profits, just let me know. I got the impression that price falling is unavoidable, not like altcoin/BTC markets, down and up. 

Apparently I missed one.

Already on its way back up. I think still a good opportunity before diff change.

Price is falling down again.
They sold more than 10TH/s yesterday.

PS. And don't forget to check your investments here: http://mining-profit.com/  

Lol, sorry but that just made me shoot milk out my nose 

Hey if they want to share their wealth with others let them.  There's been enough math and warnings, if people can't read...

I personally rode my sleigh around the world and slapped some god-damned sense into these morons.

maybe I missed something.... What the hell happened last night that made the price shoot down in one day

You just registered an account, and make your very first post solely for your referral link.
I guess this is exactly how you earned your bitcoin...

You find the price awesome because you saw it dropped from 0.07 down to 0.03 now?
Have you even figured out how much the hashrate can bring you after all?

The price of GHS has dropped to an awesome price, the most competitive price out there as far as I can tell. Now before you get all up in arms about that statement, CEX is set up to to take a fair portion not like all the others. I have earned $500 in 30 days.
Sign up here and check out the prices.

http://cex.io/informer/mjsminer/44858906d601bdadc5d372da052bb8a7/

Click the image above (that may or may not be displaying for some reason)

It's at the 0.038 mark now, and it's highly unlikely it will go back up to 0.04 I sold and rebought my gig, so have more gig to mine with in the interim of the next dip.

~Foyz

For the cex.io hashrate price, I don't really think it is fair.
By using the built-in profit calculator (https://cex.io/calc), you can see the hashrate price is way higher than the revenue the hashrate can generate.
Of course, the hashrate may not be able to increase 50% a month forever (~20% every 12 days), but even if you plug in 20% increase a month (~less than 10% every 14 days, unlikely), you still can't get back your investment.

Yup, you are right. It is not that easy for newcomers to get into the bitcoin mining world.
I had a lot of difficulty trying to figure out everything at first, and later just decided to forget about mining.
But, the point is, you don't really have to mine, if you don't find it enjoyable or profitable.

What I like about CEX.IO experiment is that it's a VERY GOOD free market sandbox. Even if CEX.IO or other powers are trying to manipulate the market, their influence will gradually peter out, left to the free market laws. It's a much better sandbox than Mt.Gox which limits people's ability to get money in/out.

The real question that has not been answered is what IS a fair market price for 1 GHS? How does it change over time? Does it go to ZERO or it will plateau at some non-ZERO value?

The insight that I HAVE after buying my own GPUs, ASICs, participating in group buys, shares of hosted mining with small, average and finally big (CEX.IO) entities, day trading with initial budget of $10,000, reading and otherwise absorbing all the data available, I have a hunch that the price of 1GHS is not approaching zero, at least not any time soon.

By far the biggest positive factor going for CEX.IO price is LOW ENTRY REQUIREMENT, paired with LOW MAINTENANCE participation.

First, to get stuff up and running is a HUGE learning curve. That cuts 99% of world population willing to do anything about bitcoins. Second, keeping rigs up and running cuts another 90% after 12-18 months. I had three children. Keeping BTC and especially Scrypt rigs running is very similar to having a child. Unless that's a day-time job (like a daycare), rigs keep having issues (power, network, heat in summer, DDOS of pools, fan failures, mice chewing on SATA cables for whatever strange reason, etc.). After doing this for a year I feel exhausted and my family is telling me to get out. Where do I go?

Group buys and hosted mining with DZ MC was a GREAT idea. The sad reality is that they do not seem to make ROI. The guys are doing amazing job trying to keep the whole endeavor going, but all the things I listed from my own experience, they go through exact same.

Day trading is also hard and pretty brutal profession. I ended up losing about 0.2BTC, but I am still up on USD, meaning if I just bought $10,000 worth of BTC I would be better off now without wasting two weeks of my life.

There are no magic bullets in BTC kingdom. CEX.IO's price per GHS is based on the grand total of experiences like mine. I am really curious if your math predictions are going to pan out or we will see a different curve.

PS
I apologize for comparing you with Paul Krugman. No one should be so cruel.