Bitcoin Forum

Any of you crypto kids using Bit-x exchange for trading or mining?

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

The people using Bit-x exchange are the ones who are holding on to bitcoins.  These people use Bit-x exchange because they are global and therefore convenient.

one of the best and safest mining server. also trusted.

That is the main reason cloud mining went from good investment in the past to redundant service nowadays.
After calculations there is no reason to invest in that anymore. Or maybe Bit-x has too high fees...

I do use the bit-x mining, and think they have good security for their costumers

The numbers should change when bitcoin price starts rising again. Maintenance fees are now just a too large part of the bitcoins earned.

IF bitcoin would double, maintenance fees should not rise too much, potentially increasing your satoshi earned by about 6 times, making the break even point only 0.5 year.

is bit-x good exchange?how profitable is it?

i can't say its expensive, because mining is not profitable nowaday (give profit but too low), and they need money to keep their mining rig healthy

a simple math tells me that they electricity is not that good, because almost 700 satoshi wasted per giga, on maintanance would mean $1.7 for 1 tera

1 tera in the form of an s5 is 500w, which is $1.2 a day in term of consumption at $0.1 kw/h, and stil 0.5 are left from 1.7, so their electricity is 0.15 or around that...

With the current value of bitcoin im pretty sure no cloud companies can offer a good roi option to their costumers,if bitcoi value goes up well we will see the trusted cloud get more attention and more investments as well.

It's not that simple. If the value rises, then there will be more miners and the revenue will drop back down to the maintenance cost.

So is that due to any influence by Bit-x? Probably not...so the rate at which mining takes place is ridiculous, yes? Tell us something we don't know! Thanks for the math though...

Its impossible to say cloud mining inst profitable to the owners,but why they keep offering the service saying hey invest 10btc and get montly 2 btc you will roi in a year,why they dont show the real stats?The money is already invested by the most and first users of them,why the new members must feel what we already know roi at the moment is one thing far away,if bitcoin reach 600 dollars those satoshis by 1ghs will turn into profit very easy.

i used it a few months ago for trading bitcoins i dont think that cloud mining is profitable there so i did not even try it yet

Great exchange for trading but not for mining.

Not likely, when bitcoin value increases a lot of hash power enters the network, difficult increases immensely and you'll earn even less from mining.

So, the best and easiest investment still be buying directly bitcoins. Both things depends on the price increase-decrease, but there are just too many factors in mining profitability.
Buy-n-hold: my simple and stupid (but good) strategy.

Good for them. Give lots of bitcoin in publicity and have those data?

On the other hand it is the only way to have customers. Do publicity to have the break even after three years. Now, with the above data, I found another reason why the Big Manager of the signature campaign of this business, called my posts "rubbish". In my posts I suggested to the people to not mine at all because is not profitable. Without seeing in my signature that Bit-x is not only an exchange but even a mining service.

But at least the Big Manager might have shown those to the public telling that these are the rubbish posts to this horror English person. We give money to this person and he tell to the potential customers to not mine at all.

Anyhow, for sure I will do the same, if I will have knowledge before about the earnings which a customer can have from their mining. For sure they benefit from the difficulty which have a normal person to do the above calculations. So benefit from their incapacity to learn before the beginning of the mining process and of the impossibility (practically) to earn. When the customer will know the truth it will be very late. Already paid the money. And Bit-x had the wanted profit.

If I am holding on to bitcoin, I would probably use bit x exchange for trading.  But I have doubts on this for mining.

Haven't actually tried any of their services apart from receiving my pay from their signature campaign, and I think I don't want to get myself involved in their cloud mining platform given that the amount of bitcoins it can generate is waaaay less than  what I can actually earn if I have the equipment in my home (electricity is around $0.05 - $0.10 kW/h here). They are pretty legit, yes, but in all honesty, I don't think I can make a good amount of bitcoins from their cloud mining platform. In the exchange? I use finex for that.

i used it before though i dont use it anymore now

here can earn not only for mining , but also for trading GHS again BTC- rate
 volatility and volume not large, so  sometime possible to buy very cheap :)

I understand you pissed and bored with the other signature campaing ,but well would be good for you and your posts forget it.Bit-x is another project with a good support by their members,and well all knows cloud nowadays arent profitable to members,if value returns to 400 or 500 dollars i guess it will return the interest .

Looking forward to use it in the future.

I am using it now pretty amazing actually better try it.

Doing both its pretty amazing actually better try it yourselves.

Im not using it but I heard so many good things about it.

Yes I have its great and very convenient to use.

Haven't yet but I have heard great things about this and I want to try it soon.

Yes I have, I love it I would continue to use it is very convenient to use.

I am not using it because it is not available in our place but I heard so many good things about it.

You're partially right. In other words, less right and more wrong. I'm angry with them. And I will be so maybe even for a few time after today. But mine was more a "pastime" and a normal post like the others than and angry or bored post like you mentioned in your post.

Was something new for me the discover (really) about this kind of service offered by them. I knew only that their business was only an exchange. I really didn't know that they offered cloud mining service. Seeing the profit that can be made from this service (from the post of the guy quoted by me) I think that everyone (even those which has never to do with their signature campaign - like the user quoted by me in my posts), would have to write something about it.

So you, better write about the aim of this thread then criticize me or handle my spiritual or mental situation. I think there are to many words to write about their cloud mining service. Better give your opinion about it. I would made this if I would be you.

Without anger and in totally sincerity about you and your words about me.  ;) :D

I think I worked for for a short while on the signature campaign a couple months ago. The exchange looks nice and solid, the layout is pleasant on the eyes (even tho it was a bit too bright for me, I like to trade at night and I miss a feature like the night mode for Poloniex). The fees seemed reasonable. It may have changed now. I was a bit annoyed by the forced 2FA auths tho.

Haven't try it. But they say it's one of the good exchange.

yeah it's in the top 10 exchange list, they also have a very good cloud website, and among the 3 only legit one

Nice to know that. :) I will use this soon.

The forced 2FA authentication is a doubled sword. It sure helps with accidents where you may lose access to your account but let's face it, it's pretty annoying to check your phone EACH time you log in! And let's the face the fact that most people don't have any relevant amounts of money on the exchanges for a long time, so being quick benefits us or at least me.

I don't know about this mate. I mean just used to it and I wouldn't leave even $50 in an exchange without 2fa or a pushing confirmation SMS like Bit-X does.

These verifications add helluva lot of security. When I don't use one or it's not offered by the site or an exchange, I feel like I am naked for example. It has become just unnatural! :)

Dont consider my words and offense,im surprised you at some company that forces you to be part off and dindt know they have clodu mining program.
But well i guess thats why coinut and bit-x make us to join them besides the payment to know what we are doing,cloud arent profitable as the begining .The fact to have to wait 3 years to roi makes me insane,i could exchange lend and maximize my btc on those 3 years and mabye get a better result.

you can at any time sell your ghs , and take additional  3-4% interest rate for mining monthly.

No Im not using it yet but I heard so much about how useful and helpful it is.

I have used it before but I stopped because it cost me so much although it is very convenient and easy to use.

I am using it tight now it is reliable and can be used in almost every store here in my place, I just love it and it is worth recommend.

I did but I stopped because I realize that it is hard to manage and it is pretty pricey.

I am not using it right now but I am planning to use it somehow in the future,
I heard so many good things about it.

Haven't yet but I want to use it soon because I heard so many good things about it and I want to try it soon.

Im not using it yet because I am using something else but I would like to give it a try in the future.

It's an exchange, it's as profitable as you are smart enough to make a profit from the exchange rate arbitrage.



What are you all waiting for? (Or were those bullshit-to-get-paid posts?)

Im using it right now it is very convenient and easy to use.

I am pretty sure this is a bot posting. Also account farming at the best. I recognize those usernames. Just yesterday somebody quoted all of these usernames in one of the threads about account farming.

This is some real BS! How the hell do they get accepted into a signature campaign?

https://bitcointalk.org/index.php?topic=1161847.msg12739269#msg12739269

Well looks like those user got kicked ,im surprised someone thinked that could scam signature with multi accounts if maybe chooses more then one maybe could had earn something with them,but well back to topic,to trade bitcoins and have a card from them looks a great service being offer to us bitcoin community,is the card working ,some feedback would be great!