Bitcoin Forum

I found a 1 year mining contract for 500 Gh/s on eBay for $1400. The 1 year contract part isn't too worrisome because by that time any mining sums will be negligible. The contract starts next week. Think it's worth it? I said $1400 because he accepted my best offer. Just reconsidering it. Here's the link:

http://www.ebay.com/itm/1-Year-Bitcoin-Mining-Contract-500GH-s-At-Cost-/321327348572?pt=LH_DefaultDomain_0&hash=item4ad09a3b5c

If he's a scammer (he has positive feedback), eBay has buyer protection.

Technically its worth it.  If you use a calculator you'll earn more than $1500 back in just over a month.  Problem is ebay doesn't deal with warranties which is technically what you're getting into when you're talking about a dispute months down the road.

The point I'm getting to is whats to stop the seller from cutting you off after 30 days or heck maybe right after you leave positive feedback?

If it were 100-200gh I'd say its favored for the seller but yours seems like a scam to me.

If I were you I'd highly reconsider this. They will not keep to the 1 year agreement because who will keep them to it? Ebay cannot enforce it. I think it will just end up with you stressing big time in a few months. Mining yourself isn't really where the money is from what I've noticed it's better if you just invest all that money into the alt coins market when its at an all time low then watch your $1000 investment go up if everything works out. I am also a beginner so maybe I am wrong?

I dont trust 1 year mining contract for 500 Gh/s.

Not worth it.  For that price you can almost buy three Antminer S1s from BitMain (600Gh/s), and have the hardware in-hand to sell if things go belly-up.  Scam?  Maybe not, but still not worth it.

Better off buying GHS voucher for cex.io, you're in control of your mining. You can even trade it there.
I've bought a few from ebay and its worth every cent.

I've seen the pricing for those on ebay.  They're priced at about 1.5-2x their actual value.

i think it is worth it, considering buyer is honest.

Or cutting you off after 3 months when it is much harder to get a paypal refund.   

When I click on that link it says $1650, did it go up in price?

Not that I would consider it, just wondering why the price changed.

It is not a worth, as the difficulty is rising day by day.Also the price has changed to $1650.

yup, not worth your money. Just bury that thought.

If it's such a good deal, ask yourself why they are selling it? 

If i were you i would either buy just BTC with your money or buy 3 Antminers and 2 PSU's to run them. You'll have 600GH and once they are not profitable, you can sell the hardware.

Did you take into account the difficulty adjustment when saying that he will make back his investment?

No, no, and more no. You would be better off just buying BTC.

Ebay is a minefield of overpriced miners/contracts and scammers.

Just close this thread already....I think he gets the point  :o

If its to good to be true then it is :)