Who's using Bit-x exchange?

[Possum577]

Any of you crypto kids using Bit-x exchange for trading or mining?

[odolvlobo]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

[Pantheon]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

The people using Bit-x exchange are the ones who are holding on to bitcoins.  These people use Bit-x exchange because they are global and therefore convenient.

[BlackPanda]

one of the best and safest mining server. also trusted.

[Snorek]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

That is the main reason cloud mining went from good investment in the past to redundant service nowadays.
After calculations there is no reason to invest in that anymore. Or maybe Bit-x has too high fees...

[syndria]

I do use the bit-x mining, and think they have good security for their costumers

[NorrisK]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

That is the main reason cloud mining went from good investment in the past to redundant service nowadays.
After calculations there is no reason to invest in that anymore. Or maybe Bit-x has too high fees...

The numbers should change when bitcoin price starts rising again. Maintenance fees are now just a too large part of the bitcoins earned.

IF bitcoin would double, maintenance fees should not rise too much, potentially increasing your satoshi earned by about 6 times, making the break even point only 0.5 year.

[Djisamsoe]

is bit-x good exchange?how profitable is it?

[TastyChillySauce00]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

i can't say its expensive, because mining is not profitable nowaday (give profit but too low), and they need money to keep their mining rig healthy

[Amph]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

a simple math tells me that they electricity is not that good, because almost 700 satoshi wasted per giga, on maintanance would mean $1.7 for 1 tera

1 tera in the form of an s5 is 500w, which is $1.2 a day in term of consumption at $0.1 kw/h, and stil 0.5 are left from 1.7, so their electricity is 0.15 or around that...

[knowhow]

With the current value of bitcoin im pretty sure no cloud companies can offer a good roi option to their costumers,if bitcoi value goes up well we will see the trusted cloud get more attention and more investments as well.

[odolvlobo]

With the current value of bitcoin im pretty sure no cloud companies can offer a good roi option to their costumers,if bitcoi value goes up well we will see the trusted cloud get more attention and more investments as well.

It's not that simple. If the value rises, then there will be more miners and the revenue will drop back down to the maintenance cost.

[Possum577]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

So is that due to any influence by Bit-x? Probably not...so the rate at which mining takes place is ridiculous, yes? Tell us something we don't know! Thanks for the math though...

[knowhow]

Its impossible to say cloud mining inst profitable to the owners,but why they keep offering the service saying hey invest 10btc and get montly 2 btc you will roi in a year,why they dont show the real stats?The money is already invested by the most and first users of them,why the new members must feel what we already know roi at the moment is one thing far away,if bitcoin reach 600 dollars those satoshis by 1ghs will turn into profit very easy.

[sana9821]

i used it a few months ago for trading bitcoins i dont think that cloud mining is profitable there so i did not even try it yet

[litmore]

Great exchange for trading but not for mining.

[pedrog]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

That is the main reason cloud mining went from good investment in the past to redundant service nowadays.
After calculations there is no reason to invest in that anymore. Or maybe Bit-x has too high fees...

The numbers should change when bitcoin price starts rising again. Maintenance fees are now just a too large part of the bitcoins earned.

IF bitcoin would double, maintenance fees should not rise too much, potentially increasing your satoshi earned by about 6 times, making the break even point only 0.5 year.

Not likely, when bitcoin value increases a lot of hash power enters the network, difficult increases immensely and you'll earn even less from mining.

[willope]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

That is the main reason cloud mining went from good investment in the past to redundant service nowadays.
After calculations there is no reason to invest in that anymore. Or maybe Bit-x has too high fees...

The numbers should change when bitcoin price starts rising again. Maintenance fees are now just a too large part of the bitcoins earned.

IF bitcoin would double, maintenance fees should not rise too much, potentially increasing your satoshi earned by about 6 times, making the break even point only 0.5 year.

Not likely, when bitcoin value increases a lot of hash power enters the network, difficult increases immensely and you'll earn even less from mining.

So, the best and easiest investment still be buying directly bitcoins. Both things depends on the price increase-decrease, but there are just too many factors in mining profitability.
Buy-n-hold: my simple and stupid (but good) strategy.

[n2004al]

I looked at the price for GHS on Bit-x and it is ridiculous.

The Bit-x maintenance fee is 679 satoshis/day. Currently 1 GH/s earns about 827 satoshis per day. That means 1 GH/s earns 148 satoshis/day.

1 GH/s currently costs 153k satoshis, which means that it will take almost 3 years to break even.

Good for them. Give lots of bitcoin in publicity and have those data?

On the other hand it is the only way to have customers. Do publicity to have the break even after three years. Now, with the above data, I found another reason why the Big Manager of the signature campaign of this business, called my posts "rubbish". In my posts I suggested to the people to not mine at all because is not profitable. Without seeing in my signature that Bit-x is not only an exchange but even a mining service.

But at least the Big Manager might have shown those to the public telling that these are the rubbish posts to this horror English person. We give money to this person and he tell to the potential customers to not mine at all.

Anyhow, for sure I will do the same, if I will have knowledge before about the earnings which a customer can have from their mining. For sure they benefit from the difficulty which have a normal person to do the above calculations. So benefit from their incapacity to learn before the beginning of the mining process and of the impossibility (practically) to earn. When the customer will know the truth it will be very late. Already paid the money. And Bit-x had the wanted profit.

[Pantheon]

Any of you crypto kids using Bit-x exchange for trading or mining?

If I am holding on to bitcoin, I would probably use bit x exchange for trading.  But I have doubts on this for mining.