Bitcoin Forum

Hello,

I have been looking into different ways of getting in the train of bitcoin mining, late, I know, but still think it's better late than never.

I have read enough and all but I get a bit confused over some mixed reviews.

I have been looking for different cloud hashing alternatives and cex.io is one that I liked, at least the interface and the way it lets you sell the GHs later on. However, I do believe the price is a bit high, but what I am trying to understand is why it is said that you actually loose money investing in something like that.

I found the following post: https://bitcointalk.org/index.php?topic=346469.0

And it's not the first one that says that, but if I go and do the math, you do get a profit. At least with the current estimation it says you are break even at 127 days, which is not great, but still, you do have some profit.

I don't expect you will be able to sell the GHs too high on a future date, but still you might get to sell them as opposed to other time-frame cloud hashing contract in which you don't own the GHs.

So what do you think on all of this and any pointers to good reading will help but still good explanations from someone with experience will help.

Thanks a lot.

They are selling you what you could call a timeshare on their system. yes you can sell your time, but someone has to be willing to buy it from you, they will not just buy it back.

with the break even at 127 days, that is with todays difficulty, which goes up roughly every 2 weeks, you might never break even if the difficulty increases to the point where you are no longer making any money.

My friend bought 9.6 gh/s about 2 months ago for $100 and just sold it for 1 Btc.