Bitcoin Forum

Should I do Cloud Mining with Cex.io? Will it be any profit? Will I get more back than I bought the GHS's for if I keep mining for a long time?

Currently there is a 0.2$ fee / GH / s that will be reduced from the payouts.( https://cex.io/maintenance (https://cex.io/maintenance) )
Current price: 0.00686448 BTC = 4.309$ / GH / s
You currently mine 0.57$ at this difficult / month (without the fee current diff.:16818461371.2)
You will mine 0.56$ at the next difficult /month (without the fee next diff.: 17011343224.0 estimate)
So you will make 0.3$ / month / GH / s.
If the difficult stay at the next you still need 7.6946 month / GH / s to return it's price. Or you can sell them. When i started at cex the price / GH / s was 0.003 BTC (the half of the current) a month ago the prices was 0.007BTC. They are changing. Invest with care.

Thank you for a quick reply! I found alot of use in your answer. So if I buy 20 gh/s i'll get 6 dollars per month?  Than It will take many months to return it's price. Well since im new I'll just get started with mining altcoins. I just started mining ducknote coins , Time will tell , I'll invest with care as you say!  ;D

You can merged mine Ducknote with Fanthomcoin or Monetaverde.

Do you know any pools that offer merge mining ?

I mine at Minergate ( https://minergate.com/ (https://minergate.com/) ) they have a miner program.

Thank you so much ! I love the miner console , so smooth and easy :) Now I get free FCN + I get the Ducknote coins so much faster since more people mine here.

Clever. A Ducknote thread disguised as a Cex.io question.   ::)

lmao , became a duckNote thread eventually  :P

If you are not going to trade your hashrate on cex.io, you are very likely to get your investment back, because the GHS price will go down in the long term due to the increase in mining difficulty.

I have not invested anything to cex.io just yet. :) But thank you for the warning!

No thanks , I won't buy any sort of cloud mining contracts ;)

I find snowball.io interesting. You can buy, sell, and trade fractional amounts of miners they host. The ability to hvae miners shipped to them and set up should help keep prices down, unlike cex.io,  which seems to have lost all touch with reality.  I have my eye on them,  and I'm considering sending them an S3 to try it out.

if ur good at day trading and short term, go for it,  other wise dont bother

Im new , how can I be good at day trading?

If you're going to trade, just trade BTC/fiat on an exchange.  There's no point involving ghash.io in the middle and having them take profits each way.  On an exchange it's just you and the fiat price of you coin, mines trading fees of course.

Don't worry , I'll buy some btc than ;)