Selling GHs to cex.io? | Bitcointalksearch.org

Frost000

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Activity: 168

Merit: 100

Quote from: CryptoPanda on February 14, 2014, 03:46:19 AM

Quote from: Frost000 on February 13, 2014, 05:35:52 PM

Quote from: CryptoPanda on February 13, 2014, 08:17:27 AM

Ok if you buy GHs power can you turn it on profit or it depend on luck?
Also from who you get the bought hash power?

Buying GH/s on cex.io will get you to mine instantly. I guess it depends a bit on luck, as you're given dividends based on the amount of GH/s you have versus the blocks that cex.io solves.

You're basically buying your GH/s from other members who are selling theirs, though everything is ultimately "owned" by cex.io since they have the hardware.

hm, i'm still having a hard time understanding the point of this and how does one make profit Sad

Profit comes with trading and a little luck. No big mining equation, nothing... Just trading.

CryptoPanda

sr. member

Activity: 910

Merit: 302

Quote from: Frost000 on February 13, 2014, 05:35:52 PM

Quote from: CryptoPanda on February 13, 2014, 08:17:27 AM

Ok if you buy GHs power can you turn it on profit or it depend on luck?
Also from who you get the bought hash power?

Buying GH/s on cex.io will get you to mine instantly. I guess it depends a bit on luck, as you're given dividends based on the amount of GH/s you have versus the blocks that cex.io solves.

You're basically buying your GH/s from other members who are selling theirs, though everything is ultimately "owned" by cex.io since they have the hardware.

hm, i'm still having a hard time understanding the point of this and how does one make profit Sad

Frost000

full member

Activity: 168

Merit: 100

Quote from: CryptoPanda on February 13, 2014, 08:17:27 AM

Ok if you buy GHs power can you turn it on profit or it depend on luck?
Also from who you get the bought hash power?

Buying GH/s on cex.io will get you to mine instantly. I guess it depends a bit on luck, as you're given dividends based on the amount of GH/s you have versus the blocks that cex.io solves.

You're basically buying your GH/s from other members who are selling theirs, though everything is ultimately "owned" by cex.io since they have the hardware.

CryptoPanda

sr. member

Activity: 910

Merit: 302

Ok if you buy GHs power can you turn it on profit or it depend on luck?
Also from who you get the bought hash power?

Gator-hex

hero member

Activity: 490

Merit: 500

Quote from: stergium on February 13, 2014, 07:42:31 AM

Quote from: Ramhound on February 13, 2014, 06:30:05 AM

Quote from: stergium on February 13, 2014, 05:21:47 AM

You can use your own equipment to mine there @ghash.io just like any other pool.
On top of that you can buy/trade ghs to miner with more power (you dont have to of course).

You can point your own hardware to the pool.

You cannot sell that hashing power* though.

*hashing power of your own equipment.

Gator-hex , if you dont mind me asking,where do you mine? --off topic question , i know

Bitminter and FabulousPanda P2Pool.

P2Pools need a lot of GH (40GH+ recommended) and small pools have a lot of luck variance.

I understand why people want to mine on the biggest pool but I really wish they would code something into the protocol to reward small pools for their variance issues to encourage their use, like sending blocks with high transaction fees to the smallest pools.

stergium

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Activity: 655

Merit: 500

Quote from: Ramhound on February 13, 2014, 06:30:05 AM

Quote from: stergium on February 13, 2014, 05:21:47 AM

You can use your own equipment to mine there @ghash.io just like any other pool.
On top of that you can buy/trade ghs to miner with more power (you dont have to of course).

You can point your own hardware to the pool.

You cannot sell that hashing power* though.

*hashing power of your own equipment.

Gator-hex , if you dont mind me asking,where do you mine? --off topic question , i know

Gator-hex

hero member

Activity: 490

Merit: 500

Ghash.io is the mining pool, and cex.io is the market, I believe.

But please, for the sake of the Bitcoin network, do not mine there!
This is the biggest pool on Bitcoin and big pools could destroy the integrity of the blockchain!

Couple that with the fact it's a registered company in the City of London on the same street as the Bank of England...
http://www.youtube.com/watch?v=LrObZ_HZZUc
...it makes me very nervous!

Ramhound

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Activity: 123

Merit: 100

Quote from: stergium on February 13, 2014, 05:21:47 AM

You can use your own equipment to mine there @ghash.io just like any other pool.
On top of that you can buy/trade ghs to miner with more power (you dont have to of course).

You can point your own hardware to the pool.

You cannot sell that hashing power though.

stergium

hero member

Activity: 655

Merit: 500

You can use your own equipment to mine there @ghash.io just like any other pool.
On top of that you can buy/trade ghs to miner with more power (you dont have to of course).

CryptoPanda

sr. member

Activity: 910

Merit: 302

ah I thought you can sell your own GHs power.

so you buy GHs from them and try to sell later for a profit or how does it work?

Gladdy

sr. member

Activity: 318

Merit: 250

I have used them before and they work very fast all are auto sell / buy / withdraw , instant . just the ghz price are so overprice ..

atari02

member

Activity: 112

Merit: 10

It is like a marketplace for GH/s. You can only sell what you have bought, and whatever you have bought you will receive the hashing power and be credited daily what your hashing power makes less maintenance fees.

stergium

hero member

Activity: 655

Merit: 500

i cannot understand what you find confusing.
you sell your ghs for X.XXXXXXX btc or nmc and you get btc or nmc

johncarpe64

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Activity: 420

Merit: 250

Quote from: PyroTekNeks on February 11, 2014, 11:11:59 PM

Quote from: leannemckim46 on February 11, 2014, 08:16:01 PM

Quote from: CryptoPanda on February 11, 2014, 11:43:05 AM

Did anyone try to sell their GHs there and got anything?
It doesn't get very clear from the homepage how it works and the registration fails for me.

what do you mean? I though you can only sell the GH/s that you bought?

This is a very confusing topic...

agree

PyroTekNeks

member

Activity: 70

Merit: 10

Quote from: leannemckim46 on February 11, 2014, 08:16:01 PM

Quote from: CryptoPanda on February 11, 2014, 11:43:05 AM

Did anyone try to sell their GHs there and got anything?
It doesn't get very clear from the homepage how it works and the registration fails for me.

what do you mean? I though you can only sell the GH/s that you bought?

This is a very confusing topic...

leannemckim46

sr. member

Activity: 420

Merit: 250

Quote from: CryptoPanda on February 11, 2014, 11:43:05 AM

Did anyone try to sell their GHs there and got anything?
It doesn't get very clear from the homepage how it works and the registration fails for me.

what do you mean? I though you can only sell the GH/s that you bought?

CryptoPanda

sr. member

Activity: 910

Merit: 302

Did anyone try to sell their GHs there and got anything?
It doesn't get very clear from the homepage how it works and the registration fails for me.

Topic: Selling GHs to cex.io? (Read 1301 times)