Bitcoin Forum

Hi guys,

For all those of you interested in cloud mining, here are a few forums you should take a look at:

https://bitcointalk.org/index.php?topic=318010.0;topicseen

https://bitcointalk.org/index.php?topic=318349.0;topicseen

https://bitcointalk.org/index.php?topic=317001.0;topicseen


I've been cloud mining for a few weeks and it's a lot of fun.  All the fun of mining without the hardware or the heat or the machine breakdowns.  It's actually really expensive to buy on CEX.io right now, so I would caution you to wait.  Watch the market and jump in when you think it's low.  To buy physical hardware right now, the cost is about 20/GHS -

so the CEX.io pricing should be 20/GHS = 0.05 BTC/GHS ...right now it's trading at .09 BTC/GHS...so it's pretty over priced.  Buyer beware, if there's a correction, and you buy at .09...you're going to lose your shirt. Ask any and all questions.  I'll be happy to answer if I can.

I have a couple of questions.  Are there resources online or in print to get a better understanding of this type of market?  I've been messing around with mining as a hobby.  I know very little, but it seems like in the long run, the price per GHS will go down forever.  Are there analogous markets / exchanges.

I've also been struggling to come up with a strategy for reinvesting in more cloud mining capacity. Has anyone documented their thoughts / investment strategies for something like Cex.io?  I'm trying to figure out when to wait versus when to spend more on cloud mining.

Well, I can tell you my strategy.  It's pretty simple.  Generally every 14 days, difficulty increases (can be less).  What i have observed is that the market will fluctuate a lot but the thing to note is that it is generally stable right after a difficulty change.  The rate will usually decrease about 4 days before a change over and drop right after a difficulty change.

With the influx of new people investing in the market, it's keep pretty high these days. Those are my observations =)

I have gone through a rough calculation with links to a mining calculator and other relivent information to consider in the following discussion. In short it is over priced roughly by a factor of atleast 2.

https://bitcointalk.org/index.php?topic=346469.new#new

I agree with you, maybe even more.  They are finally starting to correct.  Currently trading at .07 and falling.

I will buy back in if I can get for .04-.05 until then its not worth the fun of mining and is just like another exchange

It's an extremely over priced exchanged.  It scares me to think of the current people that will suffer the price fall.

And you can also read this: https://bitcointalk.org/index.php?topic=378439.0

I buyed 250 GHS and realise he mines only with 16%,  84% goes for costs to cex where is logic, dont tell crap to ppl, dude!