Bitcoin Forum

Just found out that one can buy hash rate (currently traded at 0.18 BTC per GH/s) from cex.io (the people behind that infamous ghash.io pool).

 

https://cex.io/ (regular link) :(

However, according to http://bitcoinwisdom.com/bitcoin/calculator a 1 GH/s is expected to return about 0.083 BTC total (assuming 25% difficulty increment), so it's definitely not something I'd recommend to anyone.

On the other hand, you get to keep that 1 GH/s forever and can sell it back to someone at a later time.

Thoughts?

BEWARE OF UKRAINIAN SCAMMER AND CROOKS

It's legit, but mods don't like people posting their referral links to much so be careful!

I AGREE! THESE CROOKS AT BTC-CASH - BEWARE! SCAMMERS!

Thanks! I hope they'll let it slide  :P

Is that why you posted yours in the other thread? Lol how about practicing what you preach? Go pro or go home!

PLEASE BE MORE CREATIVE

lol

i suspect you are part of bitfury crooks team

And guess how I know they don't like it?

You have been posting a lot of referral links :)

Probably not by nature or reading forum guidelines/rules...

I read them as well as i can. A mod did delete some that didnt follow guidelines i had forgotten about for certain sections. anyway here is my referral link: LOL just kidding

Given the difficulty going up in a few days.. those .18 shares are going to turn into .14 shares in a matter of days..

I lost .75BTC on that fucking site. Never again

Shit! and you could use the coin! Are you still in the same situation you were in before the forum was hacked? I can't find your thread.

thanks bitfury and his team of crooks

man just do ur math BEFORE you trade and dont always rush it.

How did you lose your money?

I don't think he "Lost" anything like he claims. I think he sold at a loss, because he didn't invest wisely, and sold at a bad time. Nobody's fault but his own. I've been doing quite nicely on that site (referral link in my signature, if you want to sign up and throw some reward my way). :)

OK cool.  I started cloud mining too =)  It's kinda fun...try it out!

going to give this a try soon, might be worth it :)

Yeah it is!  You missed the boat on the .075 BTC/GHS prices.  It's a little bit more expensive...but still much better than buying something on ebay right now.

Can anyone show where renting hash rates have given a return or were not a scam?

Seriously, why sell something if you make more running it yourself?

I just started like 2 days ago...and I'm already making a little bit.  I have a small return...but I do have one none the less... Do you want specifics?  I just have to sell soon if I want to keep my "small" return =)

They will start charging a fee of $.001 per hr per gh on Friday. I would suggest you get out before then.

Thanks man!  I actually just pulled out today - got out with my gain! Now I don't know what to do with it.  Can someone teach me how to loan? haha...wrong forum...I better start reading up on it.

Yup that sucks, sold off everything today...

Let's hope they make a last minute change in their pricing. 

0.18 per ghs is already a scam, don't even need to look at it

i ve read somewhere he is claiming to have 1000 btc of trades/day

and 6k of customer base something like that

is this for real?

That is few months back, you should look at the price per GHs now...

It was around .106 BTC as of last night.

It's going to drop once the hourly charges kick in, I wonder how much it would drop.. hm...

Good news - charges are kicking in on the 8:  See update below:

Dear CEX users,

First of all, thank you for using the CEX.IO exchange platform, we are glad you like our system and we struggle every day in order to make your CEX.IO experience as pleasant as possible.

Today, we had a hardware failure at our main backend server, which was beyond our control. We are going to replace the faulty DIMM memory module, which may take up to 5-10 minutes planned downtime to ensure that it will not happen again. However, all mining power will be compensated.

The maintenance fee

The fee will be implemented in 1 week, which makes it November 8th 2013.

The maintenance fee is estimated as $0.30 / kW*hour:
$0.17/kW electricity cost + $0.09 data centre upkeep + $0.04 hardware repair/maintenance.

(The power consumption of 1 GHS is 1.5W per hour)

The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.
The fee will be adjusted according to the BTC/USD exchange rate.

About the hardware maintenance:
We will charge $0.09 for the data centre upkeep + $0.04 for hardware repair/maintenance.

Handling 600+ kW mining equipment is quite challenging. This involves MANY people working at the backend, who:
- Replace dead chips
- Fix PCB issues
- Upgrade electricity links
- Improve mining software to reduce stale shares (we have stopped delivering stale shares for purchased GHS).

i thought it was 0 fees????

0 became 4

let s see how much people will go with them..

If you read the FAQ, they say they will implement a fee at some point.

It was 0.18 less than 3 weeks ago (look at title and date of OP) so it shows how much "investors" have already lost.

yeah he talk about months ago, when the op date is two week and half ago at best

I am hoping for .05 BTC/GHS by Dec 1!

I am with you High, 

I really don't understand how the price has been holding so high when most of know in fact only a couple weeks ago, we saw in the .08 range.  Usually a difficulty jump handles this, but wasnt that supposed to have happened already?

Waiting for that too :P.... Should be able to ROI at least 100% base on my calculation...

It's very fear driven.  I think it will take a big jump in difficulty to start a panic sell and we should see the prices dip to .04/.05/06/.07 BTC. 

Lot of people making predictions about cex.io pricing. Don't fail to take into account noob interest, joining and throwing coin at whatever price to get some GH/s.

As long as newbies keep joining they just want to get up and running at the going price.

After a while they start realizing that they are not going to get a good return on their investment and start getting wiser with the prices.

In the meantime the price stays relatively stable or even goes up against all odds with more newbies buying it.

In my opinion the price will never go down below 0.08 even after a difficulty rise !!

It's probably like buying shares of companies that give dividends (CEX.io) as opposed to buying shares of companies that focus on growth (bitcoins).

That's right.

If you buy high , mine a bit then sell high you're a winner.

Obviously the trick is to sell high but remember whilst you are mining with your GHS the actual price you paid for them ( less what you mine) is going down also!!

But I agree with whoever said it's like a game of musical chairs !!

Prices are coming down today and it's almost time to purchase.  We are back in the .1- .11 BTC zone...  .14 was just crazy!  Note, a change in diff is coming up and admin fees are kicking in on the 8th. 

0.1 is still crazy.  Prices have a long way to go before reasonable territory.

True. CEx.io needs to apply some trading fees becuse speculators are playing like crazy and price changes in kaleidoscopic fashion.

You got that right dude. They really screwed up their fee structure. I think their thread is populated by cex.io wannabe employees too....... it really is the best most wonderful fun super duper thing since sliced bread ever ever you know!!

Apparently  ::)

It was fun while the prices was low...but I'm over it now... waiting for something reasonable to get back in =)

And yet your signature still touts it.   ;)

"Greater fool theory" doesn't work without new less knowledgeable fools to offload the overpriced shares to.