Bitcoin Forum

So with the recent drop in BTC I finally decided to buy in on a rather large sum of FHA and FHM since the price is set at a pre-determined BTC price the USD/BTC ratio does not affect that market currently. I invested in 1.5TH worth of cloud mining that is set to mine in on april 26th.

I also purchased 4THS of mining in the FHM that is set to mine on May 26, 2014 which was about $7,400 USD equivilant in BTC for 4THS of mining hardware on pre order with a guarantee delivery. I could not find a better investment with recent decline in BTC/USD exchange.

https://cex.io/trade#FHM-BTC is what I am referring to if you are unfamiliar with how it works heres a link explaining exactly what it is https://support.cex.io/hc/en-us/articles/201833113

I am gauging opinions on my recent investment and why? Also if there is a cheaper USD rate on a product I missed?

Lets hear some input!

You still work for them?

So 7400 USD for 4Th in 26 May. I don't know of any pre-order that can beat this. But how are they gonna supply the GH and not be in a loss?

They have yet failed to deliver I used fiat to buy the bitcoins as I just couldn't find a better deal on any pre order hardware. Like any pre order you are taking a risk but they've proven to be well established thus far all the other companies I've looked into prior to this price drop have sold out. The only other asic company I have used for my personal mining equipment was BFL as I had FPGA units from them. Ever since BFL I have been very cautious with who I order from.

I looked at many various companies to get prepared for difficulty and out of everyone this seemed to be the best bet. If there is doubt or something better I'd like to know what so I can re-think this.

Maidak,

This is interesting; I just went and purchased some of the FHM and the FHA contracts and see how these play out, hell I might have to stop buying gear and let other people mine for me and they can maintain the gear :)  So much like the stock market with futures.

I have done a lot of different gear including (and I'm probably missing a few) plenty of Avalon, BFL (FPGA/ASICs), cairnsmore1 (look it up loved the design - hated the serial interface - flaky!), KNC, Chilis, Klondike, AsicMiner, BitMain, LTCgear, and have won and lost on some of these orders like many others here and almost cried (And rejoiced at KNC shipping the first round so promptly).  I can totally see the point of buying just hashing power on an exchange, then letting it mine to the point you sell at a lower cost, your 3 major data points I see in this (and I'm probably missing many) :

1. Will BTC be higher or lower (but then again if you just held the BTC does it matter)?
2. How high will the difficulty be?
3. At what price did I enter into the GH contract, and at what price can I exit the GH contract, and how much BTC did I make in the middle before I exited.

I personally have ~2Th at Ghash.IO, ~1TH at Slush, and ~1TH at eligius.  Figured to play the lottery across few pools. I also bought some GH at Ghash many many months ago and leave it there for extra BTC generated.

--iLuvPCs

A wise man once told me never keep all your eggs in one basket. :) So spreading the mining power across multiple pools is a very good tactic!