[Not] Good price at CEX.io

[DrG]

Now ghs seems quite cheap
anyone starting to buy?

Yep, the last couple of days I've been buying. I think there's going to be solid demand for CEX GHS going forward, it's a flexible product, reasonably priced, large zero fee pool that you can point your physical rig at and has the merged mining coins. There's always been a lot of doubters around about CEX, normally based on price, but it fills a massive hole in the market as there used to be nothing between buying your own gear and mining contracts. I'll always keep my rig, but in some senses CEX is a 'category killer' as if you've got sufficient GHS, it's ideal for regular payouts or for reinvestment.

I wouldn't want you all to buy right now, so keep selling folks, leave me some cheap GHS to buy tomorrow

2x is reasonable? 

Maybe in BFL's demented mind.

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[OleOle]

2x is reasonable? 

Maybe in BFL's demented mind.

Two times what? Two times what you think GHS are worth? Maybe you've got some great ideas about what mining equipment people should buy for immediate delivery and also have the facility to sell it back immediately if they change their mind, or even if they want to trade?

No, didn't think so.

Your concept of what a GHS is worth is based on physical rigs, that's fine, you go ahead and buy it, whatever it is and at whatever price you think it's worth. But you can leave your criticism at the door for people who perceive that CEX produce a product that they want to use at whatever price they want to use it at. You're not the arbiter of universal truth and fair value, so quit acting like it.

And who gives a fuck about BFL? You obviously raised them based on what you perceive their price per gigahash to be - your comparison is absolutely meaningless as CEX delivers immediately and BFL hardly deliver at all.

You don't like CEX or think the price is fair, fine, live with it. Others do like the price and there's a pretty responsive market to prove it.

 

[LightningBlade]

Agree, stop pushing up the price guys, it doesn't worth that much...

[high110]

It's unfortunately based on the entire market - so if 1 person doesn't buy...it still doesn't solve anything.  People believe it's worth it to put in $73 for 1 GHS at the moment since they can turn and flip it.  I have stopped investing at this point...until it comes at lease down to $20 per GHS i'm out.  Too crazy for me.

[kickbit]

BTW, cex.io traders,
http://mining-profit.com/graph
- it's an experimental tool. I'll put volume and some other metrics there soon.
But for now it displays cex.io trades in almost realtime. One candle = 1 minute.

[Vani]

Nice one Kickbit!

[high110]

BTW, cex.io traders,
http://mining-profit.com/graph
- it's an experimental tool. I'll put volume and some other metrics there soon.
But for now it displays cex.io trades in almost realtime. One candle = 1 minute.

Good job =) You just need to develop something that will make you a buck.

[RoadTrain]

2x is reasonable? 

Maybe in BFL's demented mind.

Two times what? Two times what you think GHS are worth? Maybe you've got some great ideas about what mining equipment people should buy for immediate delivery and also have the facility to sell it back immediately if they change their mind, or even if they want to trade?

No, didn't think so.

Your concept of what a GHS is worth is based on physical rigs, that's fine, you go ahead and buy it, whatever it is and at whatever price you think it's worth. But you can leave your criticism at the door for people who perceive that CEX produce a product that they want to use at whatever price they want to use it at. You're not the arbiter of universal truth and fair value, so quit acting like it.

And who gives a fuck about BFL? You obviously raised them based on what you perceive their price per gigahash to be - your comparison is absolutely meaningless as CEX delivers immediately and BFL hardly deliver at all.

You don't like CEX or think the price is fair, fine, live with it. Others do like the price and there's a pretty responsive market to prove it.

 

These prices are based only on continuous inflow of new buyers and restrained supply.
Much of BTC mined is reinvested, effectively forming a pyramid scheme.
At these prices the BTC you mine won't even cover the expected price declines from increasing difficulty.

Apart from that CEX has at least 1 PH/s of mining power to sell if they want. Guess what happens if they decide to sell some more.

I mean, the risks are underestimated.

[DrG]

2x is reasonable? 

Maybe in BFL's demented mind.

Two times what? Two times what you think GHS are worth? Maybe you've got some great ideas about what mining equipment people should buy for immediate delivery and also have the facility to sell it back immediately if they change their mind, or even if they want to trade?

No, didn't think so.

Your concept of what a GHS is worth is based on physical rigs, that's fine, you go ahead and buy it, whatever it is and at whatever price you think it's worth. But you can leave your criticism at the door for people who perceive that CEX produce a product that they want to use at whatever price they want to use it at. You're not the arbiter of universal truth and fair value, so quit acting like it.

And who gives a fuck about BFL? You obviously raised them based on what you perceive their price per gigahash to be - your comparison is absolutely meaningless as CEX delivers immediately and BFL hardly deliver at all.

You don't like CEX or think the price is fair, fine, live with it. Others do like the price and there's a pretty responsive market to prove it.

 

Sorry, but your noob is showing.  Arbiter of universal truth and fair values - sounds like something out of HeMan.  Whether it is virtual or actual hardware the ultimate purpose of the owned hash is to solve blocks.  Cas coins are only valued higher than digital BTC because of some sentimental/aesthetic value.  If you think CEX hashes will be worth more as a collector item then so be it.  In my eyes (and ½ the people in this thread) this is just another game of hot potato or greater idiot.  Seeing as how you've been here for 3 months you haven't seen the last 4 years of scams.

The BFL ref was not a comparison.  A steamy pile of dung is about all BFL could be compared to.

I don't care about CEX prices as I don't own any shares/hashes with them.  What do I do care is about centralized networks that decrease the value of my BTC by weakening BTC security and looking for exploits...you can dig that up if you like.

[DrG]

If you guys really want to do virtual mining on a large scale (ie you have lots of $), do it this way.  Buy a large order (either preorder or existing hardware for sale) and have it shipped to a colocation center.  There are several members on this forum that have made this their business (with contracts, insurance, security, etc).

They will handle all the messy hardware and maintenance, you just collect the mining proceeds.  Should you ever wish to sell it just transfer the contract to another interested party.

Yes it is more work.  But in this world if something seems too good to be true it is....especially with mining.  If 0.07BTC/GH/s was a good price then everybody would be buying it.

No free BTC lunches except for scammers.

[pkmoney]

BTW, cex.io traders,
http://mining-profit.com/graph
- it's an experimental tool. I'll put volume and some other metrics there soon.
But for now it displays cex.io trades in almost realtime. One candle = 1 minute.

Awesome job buddy. I like it

[high110]

If you guys really want to do virtual mining on a large scale (ie you have lots of $), do it this way.  Buy a large order (either preorder or existing hardware for sale) and have it shipped to a colocation center.  There are several members on this forum that have made this their business (with contracts, insurance, security, etc).

They will handle all the messy hardware and maintenance, you just collect the mining proceeds.  Should you ever wish to sell it just transfer the contract to another interested party.

Yes it is more work.  But in this world if something seems too good to be true it is....especially with mining.  If 0.07BTC/GH/s was a good price then everybody would be buying it.

No free BTC lunches except for scammers.

Lol - even scammers have to work.  TF got away with my money.  OH....I just made myself sad.

[seanambers]

In all honesty the market @ CEX.io is broken.
You don't know when more GHS is added to the market, thus supply can come bite you in the ass anytime.
They have removed the ability to go back in time more than a month in the graph.
You have allot of early buyers who bought in at a favorable moment with regards to ghs/fiat price, those can unload ontop of you just because that means they will actually get even more out of their investment since the price is so high.
So it's a high risk environment, they are also working on enabling shorts. Which for a commodity that is in eternal contango seems kinda wacked.
The price is held up by a combination of newcomers, bots and pure speculators.

[xandriel]

Sure, you could make a loss on your original investment if the price per Ghs goes down...but you can too by trading your bitcoins.
Cex.io is basically just paying you interest on the bitcoins that you invest.....in the form of GHs.

For me it is a no brainer. Why keep bitcoin in a wallet earning nothing when I can get interest on it?

[DrG]

Sure, you could make a loss on your original investment if the price per Ghs goes down...but you can too by trading your bitcoins.
Cex.io is basically just paying you interest on the bitcoins that you invest.....in the form of GHs.

For me it is a no brainer. Why keep bitcoin in a wallet earning nothing when I can get interest on it?

And what is the consequence to CEX if they run with people's wallets?  It has happened time and time again in the history of BTC.  It's one thing to use their service, but do not use their service as a piggybank.  Many new users learned this the hard way with 50BTC.

All we need is a hacker and then the "Oops, we lost everybody's coins" excuse.

[high110]

Sure, you could make a loss on your original investment if the price per Ghs goes down...but you can too by trading your bitcoins.
Cex.io is basically just paying you interest on the bitcoins that you invest.....in the form of GHs.

For me it is a no brainer. Why keep bitcoin in a wallet earning nothing when I can get interest on it?

And what is the consequence to CEX if they run with people's wallets?  It has happened time and time again in the history of BTC.  It's one thing to use their service, but do not use their service as a piggybank.  Many new users learned this the hard way with 50BTC.

All we need is a hacker and then the "Oops, we lost everybody's coins" excuse.

Oh...you made me sad...this was my situation with coinlender.. =(

[DrG]

Sure, you could make a loss on your original investment if the price per Ghs goes down...but you can too by trading your bitcoins.
Cex.io is basically just paying you interest on the bitcoins that you invest.....in the form of GHs.

For me it is a no brainer. Why keep bitcoin in a wallet earning nothing when I can get interest on it?

And what is the consequence to CEX if they run with people's wallets?  It has happened time and time again in the history of BTC.  It's one thing to use their service, but do not use their service as a piggybank.  Many new users learned this the hard way with 50BTC.

All we need is a hacker and then the "Oops, we lost everybody's coins" excuse.

Oh...you made me sad...this was my situation with coinlender.. =(

Most of the people viewing this subforum are new users.  Their mindset is still in the "well if something happens I'll go to the police" mindset.  The beauty of bitcoin being free of regulation also harbors it's capacity for evil - scamming.  I've been there myself having lost $ to my own greed with Pirate@40's ponzi - losing an amount that would make noobie's head spin.

Everybody should consider what happens if the person that they are trusting runs with the money.  Of course some trust needs to be had with any transaction or nothing would ever get done in this world - but high levels of trust need to be earned.  Would you put $1k of money online onto a website that claims to be a bank instead of your "trusted" Chase, B of A, Citibank etc?  Probably not.

I trusted another user named Hashking because he had a good track record leading up to his scam.  He had a solid 6 month history under his belt.  I lent him 41 BTC and even though he personally guaranteed it he defaulted on everybody's money and ran.  He admitted to basically gambling it, and then he bought more equipment to mine with.  He's probably quite rich right now with other people's money.  I still need to find a lawyer to go after him (I have a couple other lawsuits I need to take care of before).

[xandriel]

It is always sad to hear stories of this kind where someone steals from others.
I guess I am just more cautious than some others, I see bitcoin investing as a gamble, and only use what I can afford to lose.
The bitcoin I invest is bitcoin I have mined...so in a way, costs me nothing if all goes wrong.

[RoadTrain]

The point is they don't even need to steal. Just induce panic by dumping terahashes then buy-back cheaply.
Remember that CEX has at least 1 PH/s more to sell if they want to.
It's not a real exchange in any way, you have to play by their rules. You're bassically trading an universally liquid asset like bitcoin for something completely illiquid without the cex market.
Your choice anyway, but I really consider it dumb.

[high110]

The point is they don't even need to steal. Just induce panic by dumping terahashes then buy-back cheaply.
Remember that CEX has at least 1 PH/s more to sell if they want to.
It's not a real exchange in any way, you have to play by their rules. You're bassically trading an universally liquid asset like bitcoin for something completely illiquid without the cex market.
Your choice anyway, but I really consider it dumb.

It's tied to a constant stream of dividends.  They have not lost the market's trust yet...but it's still a fairly young invention...  They have no reason to play the market as it would mean less money for them down the line.