I have been mining on ghash.io, the affiliate pool for cex.io since early December 2013. When I started, you could buy 1.0 GHs for 0.075, in December last year. Look at the GHs now, it's gone all the way down to 0.023 today, it lost over 66% of its value in 3 months.
I just keep a couple of GHs there and point my miners at ghash.io because the pool charges 0 fees.
Now, speculating on the future price of GHs, I believe it will stabilize at around 0.0000001 GHs/BTC at the end of the year.
Topic: what do you think is the future of btc/ghs market on cex.io? (Read 887 times)
I predict 0.002btc/gh in the future. Twice what a gen3 asicminer will cost.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
So where besides CEX can a technically challenged noob like me participate in mining?
Why do you want to participate in mining?
1) "To make money" - Answer: Don't mine Bitcoin.
2) "Because it's fun / interesting" - Answer: Learn how to set up your own mining machine (for scrypt-altcoins ideally).
3) "To help protect the network" - Answer: Cex.io already has the hardware, you're just buying a mining contract from some other trader and aren't adding to the protection of the network.
+1
Mining isn't something that anyone with a big stack of cash can throw money at and get more money in return. To profit by mining you need to know what your doing which takes time/experience. I've been watching/participating in the mining game for over a year now and I still expect to NOT make a profit.
If you are a noob and are driven on making a profit I would suggest considering investing in asicminer. They know what they are doing (having invented asics) and can obtain hardware for less than the average joe can. Also with gen3 sales they will be seeing profit much more than mining alone.
If you are a noob/pro who thinks they know the mining game you can speculate with the bitcoin difficulty derivative. It's basically cex.io but when difficulty changes, the left over btc is given back to speculators (since divs are now lower due to difficulty thus requiring less btc to pay them)
Since your question was how can I participate in mining I assume profit doesn't matter. That being said I would just buy a ~$60 miner (bitfury/bitmain) so you can mine without a huge risk since any money you spend on a miner will likely never come back.
I predict 0.002btc/gh in the future. Twice what a gen3 asicminer will cost.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
So where besides CEX can a technically challenged noob like me participate in mining?
Why do you want to participate in mining?
1) "To make money" - Answer: Don't mine Bitcoin.
2) "Because it's fun / interesting" - Answer: Learn how to set up your own mining machine (for scrypt-altcoins ideally).
3) "To help protect the network" - Answer: Cex.io already has the hardware, you're just buying a mining contract from some other trader and aren't adding to the protection of the network.
I predict 0.002btc/gh in the future. Twice what a gen3 asicminer will cost.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
So where besides CEX can a technically challenged noob like me participate in mining?
I predict 0.002btc/gh in the future. Twice what a gen3 asicminer will cost.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
Also the value will surely go way down due to the havelock bitcoin difficulty derivative (where you can rent gh or speculate against mining).
Speculators will be more than happy to sell you gh on havelock for much less than cex.io is charging. Reason being that speculators are willing to take a much lower profit (still more profitable than mining).
Cex.io is making bank off noobs and their hashrate is evidence of that.
>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment.
well.. this is my magical calculator..
http://www.bitcoinx.com/profit/
I used your calculator and with even a ridiculously optimistic 10% increase per difficulty I'm still coming up negative. As noted above, you're probably miscalculating the effect of difficulty increases.
>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment.
well.. this is my magical calculator..
http://www.bitcoinx.com/profit/
And what value did you use for "profitability decline per year"? Because the default value of 0.61 is grossly incorrect and closer to the profitability decline *per month*.
>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment.
well.. this is my magical calculator..
http://www.bitcoinx.com/profit/
>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Don't know what magical calculator you're using but it will not turn profitable after 4 months. It has a decaying return like all miners and it's priced too high compared to miners to begin with. Only good for flipping or entertainment.
It will only decrease as the difficulty goes up.
so there is no chance of rise in price?
>It will only decrease as the difficulty goes up.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
Well, that's because you will get less return as the difficulty goes up.
I believe right now it is a 4 months return investment and only after that you will see profit.
It will only decrease as the difficulty goes up.
Prices for GH/s know only one direction.
the current rate at cex.io are 0.024btc/ghs , what do you think, will the prize increase or decrease in the month of march?
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