**CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App***

[PatMan]

You forgot to inform your readers of the crap cex support - "not the fastest" is understatement of the year. You also forgot to mention their double spending debacle in the "trustability" section, and the fact that they manipulate prices at random, depending on how much satoshi they need that week to front their next con/scam.

I can register a business in the UK for less than £10.

[CLOUDMINING.GURU]

Hi PatMan

Indeed you are right about their support. I was not sure about how to describe it. Aswell with the double spending debacle and the manipulative prices.
I will have to go over that one again.

Thanks for your feedback, very much apprechiated!

Cheers

[PatMan]

Hi PatMan

Indeed you are right about their support. I was not sure about how to describe it. Aswell with the double spending debacle and the manipulative prices.
I will have to go over that one again.

Thanks for your feedback, very much apprechiated!

Cheers

Hello there,

Doing write-ups on various bitcoin cloudmining services is commendable, but I believe what is needed is truthful, straightforward & unbiased information. Being afraid of writing the truth in case it upsets someone is everything that is wrong with journalism today - & if writing truthfully makes you uncomfortable, you're in the wrong trade my friend.

Thanks for taking the time to reply though, I and many others hope the "edited for truth & transparency" version will be more matter-of-fact & honest.

Peace

[CLOUDMINING.GURU]

We are kind of the first website / blog that does that. We & I are very commited for transparent and truthful and honest reviews! We never will accept any form of payment to write a good review for a cloud mining provider!

I assure that the points you made will be mentioned in the review! I thank you for your feedback and time!

[dyask]

We just finished the CEX.IO review on our site: https://cloudmining.guru/wp/cex-io/

We would like to see some feedback in the comment section on the page or here!

Regards and we wish you a nice sunday!

What you fail on is profitability.   It is possible that some people are getting a profit with pbmining.com although it seems difficult.  CloudHashing which you rated the highest is probably the worst when it comes to profit.   With CEX.io you correctly state you have to trade to profit but you fail to mention with the new trading fees that likely will no longer profitable.   Also CEX.io is very different than the other two, as it is a market and the other two sites are contract based.   

If you want to see a cloud mining operation where a lot of ex-CEX.io users are making profit, check out scrypt.cc.   It scrypt and scrypt-N based mining now and they currently only pay in BTC, but it is profitable.   It is a market like CEX.io, but the current interface isn't that great.  Still it delivers where it counts, that is profit.   Typically .5%+ a day.  It adds up.

[suchmoon]

... scrypt.cc  ... It adds up ...

It doesn't. It costs ~150% as much per MH/s as current ASIC hardware, and even said hardware is unlikely to see ROI, let alone scrypt.cc contracts. So stop spamming, or if you truly believe what you're saying maybe it's time for you to do some math.

[dyask]

... scrypt.cc  ... It adds up ...

It doesn't. It costs ~150% as much per MH/s as current ASIC hardware, and even said hardware is unlikely to see ROI, let alone scrypt.cc contracts. So stop spamming, or if you truly believe what you're saying maybe it's time for you to do some math.

I'm not spamming.   I was a strong supporter of CEX.io in the past, but too many bad things happened.   I made profit for a while there by running a bot.

When it comes to scrypt.cc your assumptions are incorrect.   First it isn't a contract, it is a market like CEX.io.   Second, unlike CEX.io they are taking steps to keep up the profits, for example they have been changing the software on GPU rigs to mine scrypt-N and scrypt-Jane, which is very important with scrypt ASCIs coming out.  (Gridseed is already all over the place.)    Finally the price there has been mostly stable as they haven't flooded the market with KHS.  (The mining unit used, Kilo Hash per Second).   The price started at .00144444 BTC / KHS and has gone up as high as .00155 BTC /KHS but is mostly in the .00154 range.  

As I said a great many there are ex-CEX.io.   For the record I'm not posting for or asking for referrals.  

When I left CEX.io I was down .5 BTC.   Now at CEX I'm up more than 3 BTC in two months.  (Even If I sold at the lowest price .00144444, in which case I would have no trouble selling as people freak out to buy cheap KHS.)

Also building running a hardware rig the does 1 MH/s scrypt isn't that easy to do on 1.5 BTC, you are talking less than $700 US.  Even hard to buy 1MH/s ASCI for $700.   

[suchmoon]

... scrypt.cc  ... It adds up ...

It doesn't. It costs ~150% as much per MH/s as current ASIC hardware, and even said hardware is unlikely to see ROI, let alone scrypt.cc contracts. So stop spamming, or if you truly believe what you're saying maybe it's time for you to do some math.

I'm not spamming.   I was a strong supporter of CEX.io in the past, but too many bad things happened.   I made profit for a while there by running a bot.

When it comes to scrypt.cc your assumptions are incorrect.   First it isn't a contract, it is a market like CEX.io.   Second, unlike CEX.io they are taking steps to keep up the profits, for example they have been changing the software on GPU rigs to mine scrypt-N and scrypt-Jane, which is very important with scrypt ASCIs coming out.  (Gridseed is already all over the place.)    Finally the price there has been mostly stable as they haven't flooded the market with KHS.  (The mining unit used, Kilo Hash per Second).   The price started at .00144444 BTC / KHS and has gone up as high as .00155 BTC /KHS but is mostly in the .00154 range.  

As I said a great many there are ex-CEX.io.   For the record I'm not posting for or asking for referrals.  

When I left CEX.io I was down .5 BTC.   Now at CEX I'm up more than 3 BTC in two months.  (Even If I sold at the lowest price .00144444, in which case I would have no trouble selling as people freak out to buy cheap KHS.)

Also building running a hardware rig the does 1 MH/s scrypt isn't that easy to do on 1.5 BTC, you are talking less than $700 US.  Even hard to buy 1MH/s ASCI for $700.   

I can't speak for the trading part, maybe it is possible to make money that way but that just means someone else is left holding the bag, losing more money than just by mining with these overpriced KHS. In other words you're relying on someone else being dumber than you. Nothing wrong with that, works in the stock market.

You're wrong about the hardware part though. GPUs are heavily dependent on power costs so it might or might not be worth it. However Gridseed costs ~$160-170 in singles, and even less in bulk, so that's less than $500 per MH/s and will keep going down. So basically it's stacked up in such a way that you don't have a choice but trade to make money. You might as well be trading tulips because the hashpower itself is worthless at that price.

[dyask]

... scrypt.cc  ... It adds up ...

It doesn't. It costs ~150% as much per MH/s as current ASIC hardware, and even said hardware is unlikely to see ROI, let alone scrypt.cc contracts. So stop spamming, or if you truly believe what you're saying maybe it's time for you to do some math.

I'm not spamming.   I was a strong supporter of CEX.io in the past, but too many bad things happened.   I made profit for a while there by running a bot.

When it comes to scrypt.cc your assumptions are incorrect.   First it isn't a contract, it is a market like CEX.io.   Second, unlike CEX.io they are taking steps to keep up the profits, for example they have been changing the software on GPU rigs to mine scrypt-N and scrypt-Jane, which is very important with scrypt ASCIs coming out.  (Gridseed is already all over the place.)    Finally the price there has been mostly stable as they haven't flooded the market with KHS.  (The mining unit used, Kilo Hash per Second).   The price started at .00144444 BTC / KHS and has gone up as high as .00155 BTC /KHS but is mostly in the .00154 range.  

As I said a great many there are ex-CEX.io.   For the record I'm not posting for or asking for referrals.  

When I left CEX.io I was down .5 BTC.   Now at CEX I'm up more than 3 BTC in two months.  (Even If I sold at the lowest price .00144444, in which case I would have no trouble selling as people freak out to buy cheap KHS.)

Also building running a hardware rig the does 1 MH/s scrypt isn't that easy to do on 1.5 BTC, you are talking less than $700 US.  Even hard to buy 1MH/s ASCI for $700.  

I can't speak for the trading part, maybe it is possible to make money that way but that just means someone else is left holding the bag, losing more money than just by mining with these overpriced KHS. In other words you're relying on someone else being dumber than you. Nothing wrong with that, works in the stock market.

You're wrong about the hardware part though. GPUs are heavily dependent on power costs so it might or might not be worth it. However Gridseed costs ~$160-170 in singles, and even less in bulk, so that's less than $500 per MH/s and will keep going down. So basically it's stacked up in such a way that you don't have a choice but trade to make money. You might as well be trading tulips because the hashpower itself is worthless at that price.

Where you can buy a single Gridseed for $160 or even close to that?  In time prices probably will get that low, but they are more in the $220 range now.  But even if you could buy for $160 you still have to buy power supplies and pay for shipping so you are going to be over $500 and then you can't easily sell them.   Finally you can only mine scrypt or SHA256.   (They are actually useless for bitcoin mining)  

http://gridseedasic.com/store/gridseed-scrypt-sha-asic-miner-330-450-khs-stock <== Example $214 for one and that is the cheapest real price I've seen.  

Finally the only trading I've been doing at scrypt is buying KHS.   I'm not trading to make money, I don't have too because it is very stable compared to CEX.io.   I typically make more than .5% a day.   15%+ a month is pretty a solid return.   If the price/yield were to start plunging like it does a CEX.io, then the gig would be over and I would have to sell.   However the price has only been moving up and down in a very limited range and has been safe to hold and mine.   I don't know how long this is going to last but it working very well right now.    Again in early Feb. the price was .00144444 BTC/KHS and now it is around .00153 BTC/KHS.   Yield did go down when the Gridseed ASICs started showing up but they have that probable addressed now and the yields have been good for the last two weeks.

Keep in mind you are complaining about a possible 50% premium, which seems cheap compared to the premiums on GHS at CEX.io.    KHS has more long term value because it isn't the mining of a single coin, they mind around 40 different coins, typically the 3 most profitable.   

[byt411]

Just out of interest, to others on the multipool, what Coins have you ticked and which ones you haven't?
How much are you earning with your hashpower?

[suchmoon]

Where you can buy a single Gridseed for $160 or even close to that?  In time prices probably will get that low, but they are more in the $220 range now.  But even if you could buy for $160 you still have to buy power supplies and pay for shipping so you are going to be over $500 and then you can't easily sell them.   Finally you can only mine scrypt or SHA256.   (They are actually useless for bitcoin mining)  

http://gridseedasic.com/store/gridseed-scrypt-sha-asic-miner-330-450-khs-stock <== Example $214 for one and that is the cheapest real price I've seen.  

Finally the only trading I've been doing at scrypt is buying KHS.   I'm not trading to make money, I don't have too because it is very stable compared to CEX.io.   I typically make more than .5% a day.   15%+ a month is pretty a solid return.   If the price/yield were to start plunging like it does a CEX.io, then the gig would be over and I would have to sell.   However the price has only been moving up and down in a very limited range and has been safe to hold and mine.   I don't know how long this is going to last but it working very well right now.    Again in early Feb. the price was .00144444 BTC/KHS and now it is around .00153 BTC/KHS.   Yield did go down when the Gridseed ASICs started showing up but they have that probable addressed now and the yields have been good for the last two weeks.

Keep in mind you are complaining about a possible 50% premium, which seems cheap compared to the premiums on GHS at CEX.io.    KHS has more long term value because it isn't the mining of a single coin, they mind around 40 different coins, typically the 3 most profitable.

Gridseeds are available at hashra, zoomhash, gawminers just to name a few, most offer free shipping, coupons and/or bulk discounts. You can buy a single power supply for less than $10 or run 50 Gridseeds on an ATX PSU for ~$100.

50% is a huge premium. I don't care what CEX charges as I'm not going to even look there. But I can easily compare scrypt.cc to owned or hosted hardware elsewhere and it just doesn't add up. I guess we'll see in 6-7 months if you will have been able to sustain 15% per month and break even.

[vm_mpn]

Ghash Multi!!!

Guys come on... Stop this nonsense at once please!



WTF!

[vm_mpn]

Ghash Multi!!!

Guys come on... Stop this nonsense at once please!



WTF!

Oops! My apology - looks like I have been credited after some delay.

Sorry Ghash

[byt411]

Ghash Multi!!!

Guys come on... Stop this nonsense at once please!



WTF!

Oops! My apology - looks like I have been credited after some delay.

Sorry Ghash

What settings (What coins have you selected) are you using?

[vm_mpn]

What settings (What coins have you selected) are you using?

Pretty much all of them except LTC

[dyask]

Gridseeds are available at hashra, zoomhash, gawminers just to name a few, most offer free shipping, coupons and/or bulk discounts. You can buy a single power supply for less than $10 or run 50 Gridseeds on an ATX PSU for ~$100.

50% is a huge premium. I don't care what CEX charges as I'm not going to even look there. But I can easily compare scrypt.cc to owned or hosted hardware elsewhere and it just doesn't add up. I guess we'll see in 6-7 months if you will have been able to sustain 15% per month and break even.

So you have totally failed to prove your point, you claimed a 50% premium and it is nowhere close to anything like that.   In fact currently because of the price of BTC it is probably cheaper buying KSH vs setting up ASICs unless you are setting up a large amount.   However in the land of scrypt it remains to be seen how well ASIC will do as many coins are moving away from scrypt.   For 1 MHS you are going to have to work and take some risk to stay under $700.   (Actually your 150% would currently be $675)
Even your best claimed prices that I can't find in your listing don't get you there.  (3 * $160 + $100 = $580, far less than 50% you claim)  

In the end the premium doesn't mean anything because what matters is how much you can sell the KHS for.   The reason why CEX is moving to scrypt coins is because the impact of ASICs is different and profits will last longer.   Multipool GPU miners can switch coins where as ASIC miners will be trapped possible just on LTC in the future.   LTC will end up being like bitcoin.  However when you are dealing with a basket of coins you don't have the rapid increases in difficulty.   However, the few coins the current generation of ASIC miners are left will quickly see difficulty raise.  

A huge advantage scrypt.cc currently has is cheap power in Brazil.  I don't know were CEX.io will end up with the altcoin mining, it will be interesting to see.    

When the Gridseed miners started showing up there was a slight reduction in profits for a week or two.  There were a few days we didn't make the .5% a day, but were close.   Scrypt.cc responded by picking up some scrypt-N coins and for the last couple weeks we have been beatting .6% a day.   I don't expect that to last but at this point my breakeven point is less than 1 BTC / MHS.   That is a huge advantage of GPUs over ASICs.  GPUs can quickly adapt.   At this I could easily pull out with better than 30% profits for two months and it gets better every day.    You simple can't do that when you are running the hardware.

There may come a time when ASICs are likely in control in the altcoins, but we are many months if not years away from that.   Right now going down the ASIC path is risky at best and locking yourself into declining profits.

  

[suchmoon]

So you have totally failed to prove your point, you claimed a 50% premium and it is nowhere close to anything like that.   In fact currently because of the price of BTC it is probably cheaper buying KSH vs setting up ASICs unless you are setting up a large amount.   However in the land of scrypt it remains to be seen how well ASIC will do as many coins are moving away from scrypt.   For 1 MHS you are going to have to work and take some risk to stay under $700.   (Actually your 150% would currently be $675)
Even your best claimed prices that I can't find in your listing don't get you there.  (3 * $160 + $100 = $580, far less than 50% you claim)

It seems like you didn't even look at the websites I mentioned, so I'll post more details just in case you are really interested (which I'm starting to doubt) in the correct math :

http://hashra.com/gridseedx20/ 7.2 MH/s, $3300 + $100 PSU (which is an overkill for 20, but let's be generous here), free shipping

$3400/7200 = $472 per MH/s

Or a single one (360 KH/s) + power supply here for $166:
http://www.gawminers.com/300-kh-s-single-gridseed-asic-miner/

$166/0.360 = $461 per MH/s

GPU math is somewhat similar regarding $ per MH/s, but power consumption is a factor there, so presumably the premium would be more in favor of cloud hashing with cheap power supply.

In the end the premium doesn't mean anything because what matters is how much you can sell the KHS for.   The reason why CEX is moving to scrypt coins is because the impact of ASICs is different and profits will last longer.   Multipool GPU miners can switch coins where as ASIC miners will be trapped possible just on LTC in the future.   LTC will end up being like bitcoin.  However when you are dealing with a basket of coins you don't have the rapid increases in difficulty.   However, the few coins the current generation of ASIC miners are left will quickly see difficulty raise.  

A huge advantage scrypt.cc currently has is cheap power in Brazil.  I don't know were CEX.io will end up with the altcoin mining, it will be interesting to see.    

When the Gridseed miners started showing up there was a slight reduction in profits for a week or two.  There were a few days we didn't make the .5% a day, but were close.   Scrypt.cc responded by picking up some scrypt-N coins and for the last couple weeks we have been beatting .6% a day.   I don't expect that to last but at this point my breakeven point is less than 1 BTC / MHS.   That is a huge advantage of GPUs over ASICs.  GPUs can quickly adapt.   At this I could easily pull out with better than 30% profits for two months and it gets better every day.    You simple can't do that when you are running the hardware.

There may come a time when ASICs are likely in control in the altcoins, but we are many months if not years away from that.   Right now going down the ASIC path is risky at best and locking yourself into declining profits.

You're making some assumptions - which is ok - but I would disagree that this is the only way this can play out. First of all, anyone can mine on a coin switching pool, you don't have to be on scrypt.cc to do that. In fact with scrypt.cc you are locked into their pool, which is a disadvantage compared to owning a rig, which I can point to anything I want at any time. True, ASICs can't mine anything except plain Scrypt (not only LTC though), but it's somewhat naive to believe that when Scrypt becomes unprofitable all other GPU miners will just give up and only scrypt.cc will remain profitable. Major multipools will invest in the same coin changes that you mention and profitability will remain low unless there is a significant rebound in BTC price (which again would affect everyone equally). With ASICs you would at least have power consumption advantage, which can keep them viable for a lot longer.

[dyask]

So you have totally failed to prove your point, you claimed a 50% premium and it is nowhere close to anything like that.   In fact currently because of the price of BTC it is probably cheaper buying KSH vs setting up ASICs unless you are setting up a large amount.   However in the land of scrypt it remains to be seen how well ASIC will do as many coins are moving away from scrypt.   For 1 MHS you are going to have to work and take some risk to stay under $700.   (Actually your 150% would currently be $675)
Even your best claimed prices that I can't find in your listing don't get you there.  (3 * $160 + $100 = $580, far less than 50% you claim)

It seems like you didn't even look at the websites I mentioned, so I'll post more details just in case you are really interested (which I'm starting to doubt) in the correct math :

http://hashra.com/gridseedx20/ 7.2 MH/s, $3300 + $100 PSU (which is an overkill for 20, but let's be generous here), free shipping

$3400/7200 = $472 per MH/s

Or a single one (360 KH/s) + power supply here for $166:
http://www.gawminers.com/300-kh-s-single-gridseed-asic-miner/

$166/0.360 = $461 per MH/s

GPU math is somewhat similar regarding $ per MH/s, but power consumption is a factor there, so presumably the premium would be more in favor of cloud hashing with cheap power supply.

In the end the premium doesn't mean anything because what matters is how much you can sell the KHS for.   The reason why CEX is moving to scrypt coins is because the impact of ASICs is different and profits will last longer.   Multipool GPU miners can switch coins where as ASIC miners will be trapped possible just on LTC in the future.   LTC will end up being like bitcoin.  However when you are dealing with a basket of coins you don't have the rapid increases in difficulty.   However, the few coins the current generation of ASIC miners are left will quickly see difficulty raise.  

A huge advantage scrypt.cc currently has is cheap power in Brazil.  I don't know were CEX.io will end up with the altcoin mining, it will be interesting to see.    

When the Gridseed miners started showing up there was a slight reduction in profits for a week or two.  There were a few days we didn't make the .5% a day, but were close.   Scrypt.cc responded by picking up some scrypt-N coins and for the last couple weeks we have been beatting .6% a day.   I don't expect that to last but at this point my breakeven point is less than 1 BTC / MHS.   That is a huge advantage of GPUs over ASICs.  GPUs can quickly adapt.   At this I could easily pull out with better than 30% profits for two months and it gets better every day.    You simple can't do that when you are running the hardware.

There may come a time when ASICs are likely in control in the altcoins, but we are many months if not years away from that.   Right now going down the ASIC path is risky at best and locking yourself into declining profits.

You're making some assumptions - which is ok - but I would disagree that this is the only way this can play out. First of all, anyone can mine on a coin switching pool, you don't have to be on scrypt.cc to do that. In fact with scrypt.cc you are locked into their pool, which is a disadvantage compared to owning a rig, which I can point to anything I want at any time. True, ASICs can't mine anything except plain Scrypt (not only LTC though), but it's somewhat naive to believe that when Scrypt becomes unprofitable all other GPU miners will just give up and only scrypt.cc will remain profitable. Major multipools will invest in the same coin changes that you mention and profitability will remain low unless there is a significant rebound in BTC price (which again would affect everyone equally). With ASICs you would at least have power consumption advantage, which can keep them viable for a lot longer.

Cute you just change your argument.   You were talking about setting up 1 MHS and then you use the math for 6.67 MHS.   But you still totally are totally missing the point and the value of the cloud.   If you have multiple thousands to spend you can always get cheaper MHS with hardware, but most people that are using cloud services aren't able to do that.   Yes it is cheaper per MHS to set up a large operation, but that never was the point.   With a place like scrypt.cc you can start small and build, you can't easily do that with hardware.   For example for $.75 you can get a KHS and start collecting 4 to 5 satoshi's every 10 minutes.  What can you do with $.75 and ASICs?  

Point two - Yes you can point your hardware at different pools.   It takes time to determine which pool to use and it costs (lost coins) to switch pools.   I also have done some physical mining when I was starting out, but mostly I don't do it because I don't have the space or the cheap power where I live.   Even ASICs require power.    But the major multi-pools don't pay as well as scrypt.cc has been paying.   I don't know where CEX.io is in this yet.    As I mentioned I've been getting better than .6% a day lately, the multipools are mostly below that: http://poolpicker.eu/   Yes, I know this can change at any time.   But I'm not locked in, I can always sell my KHS.  

However again you are missing the point.   I never said or implied that ONLY scrypt.cc will be profitable, I said that ASICs will be on a much steeper declining profit curve, just like bitcoin.    That is the real problem with them, you have to break even and make money fast because you don't have much time to do it.   At this point I don't buy GHS at CEX.io because it is on the same losing curve as ASICs are for bitcoin.   However in the altcoin world things are different at least for now.   I'm sure that is why CEX.io is moving into altcoins.  

It doesn't matter what path you take, there are tradeoffs.  
- If you have large amounts of money up front you can build more hashing power for less cost.   (Although you are still short of your 50% premium at least with scrypt.cc)   However you have to make your money fast because you are locked in.    It is also a huge investment in time and you carry all the risks.
- With the cloud, it can be more expensive pre unit of hashing, but as long as you avoid contracts you aren't locked in and you can move as needed without losing your investment, but you have to pay attention to what is going on.   The key risk is finding a provider that is real and not a scam.   The main advantage is you can play with small amount or very large amounts.   I know one guy (larger than me) that started at scrypt.cc with around 60 BTC and is doing very well.  

Neither approach is a sure thing.   However at this point I have a lot more MHS than the 6.67 in your example for less cost because I've been reinvesting.  That is much harder to pull off with hardware.  My current cost is around 1.2 BTC per MHS and each MHS is currently returning .0094 BTC/day.   That is without trading.   At CEX.io I never was able to consistently profit with GHS.    I don't know how the new stuff will work out there.  

[suchmoon]

7.2 MH/s, $3300 + $100 PSU

...

Or a single one (360 KH/s) + power supply here for $166:

...

Cute you just change your argument.   You were talking about setting up 1 MHS and then you use the math for 6.67 MHS.

This here kind of casts doubt on the rest of your case. I didn't change anything. I gave you a full scale of pricing from 360 KH/s to 7.2 MH/s, all well bellow $500 per MH/s, and you pulled some 6.67 number out of nowhere. I get that you think you're making good money and seem to be happy with your investment, but there is no need to go into full denial mode and invoke bogus numbers to prove your point. Take care.

[dyask]

7.2 MH/s, $3300 + $100 PSU

...

Or a single one (360 KH/s) + power supply here for $166:

...

Cute you just change your argument.   You were talking about setting up 1 MHS and then you use the math for 6.67 MHS.

This here kind of casts doubt on the rest of your case. I didn't change anything. I gave you a full scale of pricing from 360 KH/s to 7.2 MH/s, all well bellow $500 per MH/s, and you pulled some 6.67 number out of nowhere. I get that you think you're making good money and seem to be happy with your investment, but there is no need to go into full denial mode and invoke bogus numbers to prove your point. Take care.

300KH/s * 20 = 6 MH/s  ... I guess I gave you some breathing room.   I have seen specs up to 340 KH/s but not as high as 360 KH/s.   You won't know what your real speed is until you get it set up and running.   You could also overclock but that will shorten life and use a great deal more power.    

There is are much larger issues.  
* You have to spend a great deal of time doing this and keeping things going.  I touched on that before, but my time is worth something to me.   For every hour I spend on my mining you probably spend 3 or more.   What is your time worth?   If you are going the Gridseed route, probably not much.
* Taxes - which varies for where you are, but I have to recognize the coins mined as income if I mine with hardware.   Mining in the cloud gives me a lot more options and I don't have to recognize the income until I transfer the BTC out of the cloud.  That flexibility is worth a lot to me at my tax rates.   This may change as rules are often changing around bitcoin.  I choose to pay my taxes in lieu of risking a fight I can't win.  
* Social costs - I have a family, while my children might enjoy having a Gridseed farm set up, my wife wouldn't.   That is hard to be a value on but it is large.

Now you can't refute this:  
At scrypt.cc my cost per MHS is current less than 1.14 BTC.    (That is because of reinvesting, and that is in just over 2 months. I said 1.2BTC before but I was just ballparking that figure.)    Yesterday which was on the low side I made .0094 BTC / MHS.    So If I were going for ROI like it was hardware I'm looking at just 122 days, however it isn't hardware and I can easily sell my MHS today for 1.5 BTC/each and walk away with a .36 BTC / MHS profit and that gets better everyday!   That can't be easily done with hardware.   Your own argument seems to be based on a belief that the price of KHS at scrypt.cc has to rapidly depreicate.   That isn't the case yet because of the way the site is managed.   It all boils down to supply and demand.   However, the cost of a Gridseed unit is dropping fast, that should tell you something.   Yes more ASICs are coming ... big deal.