Topic: [Not] Good price at CEX.io - page 9. (Read 49095 times)

I'd be more than surprised if their GHs price actually held up to 0.029BTC at the end of May
That would be a good laugh...
(although, in case BTC value fell significantly for some reason, we could easily see these figures - but in terms of valuation at the time of my posting it would just add the need to calculate the current value)

Anyway, as stated being lucky after holding for 1 month is actually possible. Will be interesting to see how things work out after 2 months or more.
In that respect, it's not much of a prediction. It was just the math of the minimum requirements to leave the game with 0 losses.

Speaking about End of Jan 2014, 0.04BTC/GHs is an important psychological mark (round number), so I don't expect it to yield without a fight before it drops below that figure (as witnessed on 26 Jan @14:15-14:30, when it was temporarily broken downwards on high volume, then rebounded). So in terms of 0.038BTC/GHs... we're not quite there yet but obviously getting close and have 5 more days to go.

PS.
*ugh* please don't compare me with Krugman *yikes*
I'd rather go unemployed on the streets holding a sign saying "useless creature" than be like Krugman

One month at a time. You graciously provided your estimates on what others would not. So, now we will see if it's very insightful or it's "Paul Krugman". I am especially interested in your "*omg* have you seen a doctor lately?" estimate. Good times!

It doesn't have to, as it depends of the level and endurance of manipulation. But down it will come, be it a week earlier or later. In theory, it could be even a month. Delaying the inevitable just makes the price come down faster & harder (those colluded in the inside will sell for best price at a point of their choice, while the rest - confident due to the seemingly "price stability" - usually wakes up the next morning to find out).

According to this prediction CEX price will drop from curent 0.042 to 0.038 by next weekend.

It's increasing, of course. At a varying rate.
I only used this unattended for my first month there - now I do occasional Ghs sells when the price is descending to keep my holdings high.

Have you done any analysis to see if the value of your holdings is decreasing or increasing?

value = BTC + GHS * price

That's just what I did to grow my Ghs over my first month of cexio.

Bot v1 sells all BTC & NMC for GHS every hour
Bot v2 sells % of NMC and % of BTC every hour
Bot v3 is being fine-tuned to be distributable for easy git pull so cexio mining newbies can reinvest with no effort
Bot v4 might do something like only sell by placing orders just above/below the price at time of sale, who knows.

It's pretty much usable so if anyone wants it PM me

It is in Python.  Not a language of choice for me, but there was already a working reinvesting bot in the CEX.io forums and I rebuilt that into what I wanted very quickly.   I'm slowly cleaning it up, but I built in 3 different bots in it and the third one I've modified many time.   The first two bots were losers.   

I don't have any plans to share my bot though.   That can be a huge amount of pain and I expect to keep in a state of constant tweaking.   Frankly, I think any bot that is just shared, probably isn't worth much. 

That's why you do both, even a minor profit is still a profit.

What have you used to write your bot btw?

~Foyz

Yes, I made 4% over the last week.   However this coming week who knows?   I've been out of the game for a couple days as I rebuilt my bot and liquidated my GHS.   Now it is buying back in a little bit higher.

Being able to write my own bot and run it is the major attraction to CEX.io as it is hard to be profitable just by mining. 

Youre right, the "If" makes the difference...

Sorry for that!

Right back atcha there, buck-o.

I could say more, but frankly you're a waste of time and space.

~Foyz

You can believe whatever you want. I believe that you're a fuckwit.


Of course it is. Did I ever dispute that? No. You're stating the obvious because you've apparently got nothing else to say, except this shit-talking about bourbon.


Right back atcha there, buck-o.

I believe he was speculating, as his sentence begins with "If". That's different than trolling.

Well I assume you dont have any proof for what youre saying...just trolling?

If cex.io people are smart, and they are very smart, they are already selling virtual GHs in between 

Actually, that was directed at the hardware-owning miners using the ghash.io pool who apparently are unconcerned about the 51% problem, as long as they get their BTC with 0% fees. I don't have anything against anyone doing day trading (unless they're dishonest about it and insist that they are "miners").


That's not quite correct either. I've been saying that if you buy GHs at a price that will never, ever ROI (and that's where cex.io GHs shares are priced at the moment) then you are signing up for a guaranteed loss. The only way to mitigate that loss (and maybe even come out of the deal with a profit) is to day trade the GHs shares. The mining part is absolutely going to be a loss, definitively, unquestionably, and there's no room for debate. Anyone still trying to debate that part is a blithering idiot. It's all about the day trading.

So cex.io is providing a platform for people to pretend they're mining while they're really day trading. I don't think cex.io is bad because of that. I think the customers of cex.io, though, are pretty stupid.

Let me put it another way: If they were good at mining and did the math properly, they would see that as a mining investment, there's no ROI. If they were good at day trading, they would realize that the built-in loss on mining can only reduce their potential up-side from trading. They are, therefore -- being neither particularly good at mining nor day trading -- just a bunch of idiots deceiving themselves into thinking that they're "helping the cause" or some nonsense like that.


I have no idea if ghash.io is going to attempt a 51% attack or not. I have no opinion on that, though I'd much rather that no pool operator was anywhere close to that threshold. I once provided a link to someone talking about a double-spend allegation from ghash.io when someone else asked if there was any evidence of the allegation. That's the extent of my "exhibits" on that subject.

But let's be clear: I'm much more critical of the people using cex.io than I am about cex.io itself, or even ghash.io.


Bullshit. My proposal does nothing but steal BTC from dimwits, unless it also includes a real pool on the side for disguising the absence of actual hashing power. If I was going to go to all the trouble to creating a pool, I would just, you know... create a pool and earn BTC the old fashioned way.

Let me re-iterate that point: the cex.io exchange does not actually help "the cause". Those GHs shares they are selling are going to be online and hashing whether anyone owns the shares or not. As long as they produce more BTC than they use in electricity, cex.io has no reason to turn them off. The only "service" cex.io is providing is a vehicle for stupid people who aren't good at mining or day trading to pretend that they're doing both, while (in the aggregate) giving more of their BTC to cex.io's operator than they get back. Some of the "miners" may in fact turn a profit, but they're too stupid to realize they could have turned more of a profit if they actually just engaged in day trading of virtually any other security or commodity on the planet, other than GHs.


You need to re-read my proposal, then. You don't need facilities. You need an AWS server or really any lightweight web server, as there's nothing special about the site that will run on it. You don't need a data center. You just need a web app that pretends to allow people to trade GHs while you're actually stealing their BTC. It's simple, really.

You don't need an initial outlay of BTC, either. You really didn't read the proposal, did you? You need to set an IPO price on the shares of GHs that is slightly more than twice what a real GHs would earn in one month at the current difficulty level. The continuing ASIC arms race going on amongst the actual miners will take care of the rest for you by halving the expected return on a GHs every month until a single GHs is essentially worthless. In other words, the asymptote will never reach 1.0, and you (or whoever attempts this in earnest) will pocket the difference.

And as an aside, I don't sip crap. So fuck you.


I'm genuinely interested in helping people. That's why I posted my proposal. I'm not interested in giving people a fake exchange, though. I outlined this "idea" in order to help people realize in a slightly satirical way that the only person who really profits from an arrangement like this is the exchange operator, and the people giving the exchange operator their BTC are, by and large, fools.

I hope that helps someone keep some of their BTC, but the way this thread is going, I kind of doubt it. So be it.

A previous comment of yours mentioned something about selfish day trading profit mongers, or something to that affect.

You, along with many others, have been saying that cexio is bad. You have also said that a 51% attack could be happening, providing "Exhibits" to prove it.

Creating a similar pool and commodity exchange, be it virtual or not, can only serve to help the network by giving the users currently at cexio an alternative option, thereby potentially splitting the percentage monopoly currently at ghash.

I wasn't asking you for your time, I said I have the facilities to set this up, so you can sip all the crap you like, your design requires BTC to pay people. (which according to said design, effectively makes the whole system a glorified faucet)

So the question is, are your comments to genuinely help people, or are you just trolling cexio\ghash? By the way, the same applies to all of you that seem to think the same.

~Foyz