Bitcoin Forum

Picture, if you will, a warehouse somewhere in Ukraine where three gentlemen are sitting around a table sniffing lines of powdered chips through rolled up computer hardware receipts….

Bosski1: *sniff* “Boyz!!  Look at us – we’re mining at full capacity, soon to be the biggest pool in the world & making a very handsome profit indeed – well done boyz!!”

Bosski2: *snort**sniff* “But it’s not enough Bosski – we should be making much more profit to enable us to continue with our powdered chip habit”

Ripovski: *sniff sniff* “But Bosski, we are already at maximum profit & 100% efficiency, I can’t squeak another millibtc out of the hardware”.

Bosski2: “Don’t be stupid Ripovski *sniff* just double spend some more, those idiots won’t notice anything…*sniff*”

Ripovski: *gulp* - *big sniff*”Erm, actually Bosski – I’ve been meaning to talk to you about that….”

Bosski1: “Why Ripovski? You look worried…..what’s happened?”

Ripovski: *big gulp* “Well Bosski, somebody found out about what we’ve been up to & posted about it to the entire world wide webz.”

Bosski2: “What!? I told you to cover your tracks Ripovski, & make sure the idiots couldn’t trace it back to us – how did this happen?”  *snort**sniff*

Ripovski: “Well Bosski, it seems they’re not all idiots like you thought – we’re busted.”

Bosski1: *snort* “Ripovski?”

Ripovski: *sniff* “Yes Bosski?”

Bosski1: “You’re fired!” *snort*

Ripovski: *sniff* “But Bosski……”

Bosski2: *snort* “Don’t worry boyz! Come back here Ripovski, I have an ingenious plan that will make us even more profit with no risk of being caught out by any more cleverdick idiots. Ripovski – I want you to design the prettiest, fanciest & most expensive looking website ever, we’re going to sell off our hash rate at more than twice the price it’s worth – and then charge the idiots to use it only on our pool– it’s perfect I tell you!!”

Bosski1: “I like it! This sounds very promising indeed….I’ll go straight to London & slip someone a few quid so that I can start a new company – that will put us in the clear when I write a statement to the idiots….Ripovski?”

Ripovski: “*sniff* “Yes Bosski?”

Bosski1: “You’re hired – get to work” *sniff*

Ripovski: “Erm, but Bosski – what idiot is gonna buy our hash rate at twice the price its worth & then pay to mine at our pool with it?”

Bosski2: “Ah, that’s the clever bit – we tell them they can sell it at any time they want for a profit, simple!”

Ripovski: “ But Bosski, to sell it at a profit, some idiot will have to want to pay even more for it – who’s gonna do that?”

Bosski1: “*sniff* “Another idiot probably. All we have to do is convince them that they are getting a good deal, right Bosski?”

Bosski2: “Exactly! And get this – this is the REALLY clever bit -*snort*- we, or rather you Ripovski, will control the price of the hash rate to ensure that we can’t make a loss – this will keep the idiots so busy trying to guess the market price that they won’t go anywhere else!”

Ripovski: “But Bosski, surely there can’t be that many idiots who will fall for our little plan? What if they realise what’s going on? It’s happened before”

Bosski1: “We’ll just do what we done before – ignore them. But don’t worry boyz, that won’t happen this time, Bitcoin is getting bigger every day - and there are hundreds of new idiots arriving daily with it - & they’ll all come straight to our pretty, shiney site that promises them wealth & stardom beyond their wildest dreams – isn’t that right Ripovski?”

Ripovski: *snort* “Erm, if you say so Bosski, yes”.

Bosski2: *snort* “Anyway, even if the idiots do cotton on to what we’re up to – we’ll be long gone swimming in wodka & caviar before they know it….”

Bosski1: “Ripovski!”

Ripovski: “Yes Bosski?”

Bosski1: *snort*“Make sure you cover our tracks properly this time – I don’t want to have to fire you, start another company & then hire you again…..”

Ripovski: “OK Bosski”

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                                                                And they all lived happily ever after – The End (or is it?)
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Right, before you all start – this is a fairy tale. Any similarity of characters, persons or companies to any real life entity is completely unintentional & must be a total freak of nature or something like that.

Honest.

Or maybe it’s something to do with what I just smoked – it’s wicked this stuff……it’s like ESP or something, I dunno.
Anyway, expletives & CAPITOL LETTERS!!! can now be added at your leisure below – knock yourself out.

Be careful out there in Bitcoin mining land……. ;)

Are you talking about cex or what ? :O

Who?

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

You were thinking Sex.io  :D

I wonder what cex stands for...

Quote:


:D

I'm getting the same feeling from the cloud mining I bought. I paid $300 for 4 GH/s for a years contract back in August. Now I'm looking at BFL's pre-orders going at like $10 per GH, I'm totally depressed.

Well, did you get at least 0.5BTC from that?

Mining started in September and so far I've gotten 0.21BTC

I have made around 0.5BTC from CEX.io (https://cex.io/r/0/jsjewjwewe2/0/) so far.  Some ups and downs, but I am up at the moment.

Cex is not bad, but it feels like Im making more money by reselling GHs than by mining... Probably because I dont have too many BTC yet.. but Ill transfer earnings from slush to cex and increase the hash rate.

That story sounds of familiar somehow....

I don't think it is a bad way to mine, as you can hopefully get the value out of the GHs by reselling.  My personal mining equipment becomes worthless after the return becomes negative.

CEX is good. I used it. The put a good service together and they are honest so far.

You can't really hold it against them that the price of GH naturally falls like a rock and you lost money on your investment. LOL try buying a psychical miner. At least you GH will be worth something in 3 months.  For example the asicminer cube i'm getting (for 1 btc) I've projected that after 3  / 3.5 months it's primary use to me will be as a space heater for my apartment.

I had some spare btc so I bought 35 gh/s during the boom.  The price has gone up since then, I bought in around .079.  You'll never have the price of your investment go up in physical hardware (unless you figure on selling it over-priced on ebay or something somewhat dubious).

yay psychic mining

Playing with cex is risky. I bought 5Gh/s @ 0.85 and after 2 hours the price was @ 0.78...

Then buy at 0.075 and sell when it gets to 0.08   ::)

 :D :D :D :D :D :D

Dude, buying at that price isn't risky - just plain daft.... ::)

I lulz'd at this - very good indeed. Unfortunately I have a feeling that the sequel will not be so "happy ever after"........

The sarcasm just reeks and bleeds from this post its all bled out. Hey if your a gambler or have a six sense. You can make some BTC from cex. Dont get caught with the hot potato though and start thinking like a  gambler.

Thats if BFL ever deliver, i waitied nearly 12 months for a 5Ghs miner, not impressed!  i wont be using them again >:(

At this forum, BFL is trustless even BFL says the pre-orders are all sent.

before October, Pre-orders should be considered, but not BFL ones. Kncminer does the good job. Plus these big players in mtgox, I pay less bitcoin for more fiat (In total, USD 4,000, Even I have arranged how to, right now, 20% of the input).

Don't trust any what BFL said. BFL can just perform the same trick again on 28nm products. Based on Kncminer real design, there is no 600Gh/s@ 300 W in 28nm format. If you study carefully, then you know which you should select.

Please play smart and pay smart. I know there are some people which hate to pay commission much as 1 BTC is just a 70 USD thing. I use this amount to estimate the worst case.

To play, Simply use Namecoin on cex.io. Namecoin becomes little more famous because of the acceptance.

Know when to buy and when to sell and don't blame others while you're the one clicking the mouse. You should do your homework and research before clicking the buy button.

After 3-3.5 months you can sell them to me, or now.

It is a fantastic idea for the Bitcoin economy that should be used more. And I think it will in the coming months and years.

Weird how everyone associates my little fairytale with a certain company........

Anyways, part 2 is developing nicely......... ;)

Nice story ! You have talent ! Maybe you will write the next "Game of Thrones" novel like  :D
Try to write and sell your work for BTC.  ;)