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cshelswell (OP)
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October 26, 2013, 02:43:47 AM
Last edit: November 30, 2013, 12:26:09 AM by gmaxwell |
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So i was just tapping some numbers in to http://mining.thegenesisblock.com and i might have this wrong but it looks a lot like you need a price of about 0.05 BTC per GH to turn a profit? Am I missing something? |
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Whoever mines the block which ends up containing your transaction will get its fee.
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leannemckim46
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October 26, 2013, 02:52:11 AM |
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So i was just tapping some numbers in to http://mining.thegenesisblock.com and i might have this wrong but it looks a lot like you need a price of about 0.05 BTC per GH to turn a profit? Am I missing something? Yes, that's right. Don't buy any GH/s from them its over priced  |
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cshelswell (OP)
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October 26, 2013, 02:56:27 AM |
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yeah i had been trading on there a bit and made a little but i was kind of waiting for the price to half just now but people still seem to be trading at a really high price. I'm not sure I get it  |
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peonminer
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October 26, 2013, 03:10:47 AM |
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Volume=volume profit
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philipma1957
Legendary
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Activity: 4116
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'The right to privacy matters'
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October 26, 2013, 02:14:08 PM |
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So i was just tapping some numbers in to http://mining.thegenesisblock.com and i might have this wrong but it looks a lot like you need a price of about 0.05 BTC per GH to turn a profit? Am I missing something? WHAT did you use for diff increase rate each month? 132% will not last for more then a few months. punch in 132% and 5 months then punch in 132 % and 10 months. After that try 100% for 5 and 10 months. then try 75% then try 50% then try 25% The real question is how long before the numbers drop from 132% a month back to a more normal 10 to 30% per month. |
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klondike_bar
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ASIC Wannabe
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October 26, 2013, 06:20:00 PM |
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So i was just tapping some numbers in to http://mining.thegenesisblock.com and i might have this wrong but it looks a lot like you need a price of about 0.05 BTC per GH to turn a profit? Am I missing something? WHAT did you use for diff increase rate each month? 132% will not last for more then a few months. punch in 132% and 5 months then punch in 132 % and 10 months. After that try 100% for 5 and 10 months. then try 75% then try 50% then try 25% The real question is how long before the numbers drop from 132% a month back to a more normal 10 to 30% per month. im guessing janruary we will be down to 60%, and march down to 25% |
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Gotta go fast!
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October 27, 2013, 02:13:38 PM |
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It won't be profitable if the difficulty rises too much. Many new ASIC miners are being produced.
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Aalesund
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October 27, 2013, 05:35:33 PM |
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The price of GH/s is too high now.
Maybe if you have 4-5 or 10 BTC, then yes, will have a good profit if you invest, but with small amounts of 1 BTC or even less is pointless to invest.
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Let's color the MOON: YN4VBGgcmm7nAGqhc2zeUN7eJXCxfWyWGa
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chalidore
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October 27, 2013, 05:58:14 PM |
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When the price of BTC goes up, the price of the mining shares will drop. Paying more than $10 per gh doesn't give you much of a chance to ROI. I just sold my shares. I will buy in when price hits about .05BTC per gh.
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cshelswell (OP)
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October 27, 2013, 07:25:51 PM |
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I just sold mine too it's nearly back up at 0.1 which just seems crazy I was sure it would drop after the diff change
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wrenchmonkey
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October 27, 2013, 08:07:27 PM
Last edit: November 18, 2013, 05:16:20 PM by Raoul Duke |
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The price of GH/s is too high now.
Maybe if you have 4-5 or 10 BTC, then yes, will have a good profit if you invest, but with small amounts of 1 BTC or even less is pointless to invest.
Not sure how you arrive at that conclusion. If it's a bad investment for <1 BTC, it's a bad investment for 5 BTC or 10 BTC. It never ceases to amaze me how utterly incapable the people on this forum are of doing simple math. I'd blame it on the U.S. public education system, but many of these people aren't from the US.  |
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MWNinja
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October 27, 2013, 10:18:18 PM |
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It's interesting to see the price adjustment happen well before the difficulty adjustment, then trend up after the difficulty increases. There's lots of money to be made trading GH/S as a security.
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amencon
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October 28, 2013, 06:22:30 AM |
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The price of GH/s is too high now.
Maybe if you have 4-5 or 10 BTC, then yes, will have a good profit if you invest, but with small amounts of 1 BTC or even less is pointless to invest.
Not sure how you arrive at that conclusion. If it's a bad investment for <1 BTC, it's a bad investment for 5 BTC or 10 BTC. It never ceases to amaze me how utterly incapable the people on this forum are of doing simple math. I'd blame it on the U.S. public education system, but many of these people aren't from the US. Yes it's amazing how pervasive this misconception is. To be fair though it is true that most manufacturers will sell their larger miners at lower cost per GH. However this increase in cost-efficacy is usually marginal. In this particular instance I don't know of any mining purchase for 5 or 10 BTC that would net you much better price per GH than a 1 BTC purchase. |
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high110
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October 28, 2013, 12:35:46 PM |
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You guys are scaring me..I bought at .085 and now it's at .1ish...wondering if I should sell and just exit until it hits .05 per GHS.
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b!z
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October 28, 2013, 12:54:56 PM |
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You guys are scaring me..I bought at .085 and now it's at .1ish...wondering if I should sell and just exit until it hits .05 per GHS.
Make your own decisions. If you feel it's the right choice, then go ahead. |
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waltermot321
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October 28, 2013, 01:13:55 PM |
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You guys are scaring me..I bought at .085 and now it's at .1ish...wondering if I should sell and just exit until it hits .05 per GHS.
Yup, make your own decision but difficulty is increasing 40% per 11 days.. Good luck |
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bitcoiner49er
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October 28, 2013, 01:29:10 PM |
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Difficulty goes up, price goes..... UP?! We got some real Einstein's here. I just wish I was savvy enough to get my own webpage and hashing service going. |
Homo doctus is se semper divitias habet
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high110
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A Blockchain Mobile Operator With Token Rewards
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October 28, 2013, 03:22:17 PM |
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You still can...it's pretty early in the game =) but you'll need to buy some rigs.
Wow - prices are going up! .0104...omg...GHS is making a run on CEX.io!
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high110
Sr. Member
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A Blockchain Mobile Operator With Token Rewards
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October 29, 2013, 11:26:16 AM |
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they're going to implement a .001 maintenance fee per hour - sighs...I'm pulling out guys. I was so excited about it a few days ago...can't believe it's over already =( read here: https://www.cex.io/faqFAQ number 3. |
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Asrael999
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October 29, 2013, 12:50:37 PM |
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not sure I understand this - can I short the contracts? If I do and withdraw the BTC how would they chase me for the bitcoin I would need to pay to the buyer of the contract? If I can't short the contracts, why not? Take away that facility and it is not a real market.
Isn't this just a prettier way of selling one of those nefarious perpetual mining bonds - the value of which only decreases over time?
Seems to me that if I had already taken delivery of a Jupiter for which I paid $6995 which was running at 500GH/s I could sell 500GHs for approx 50BTC -> $10,000 and realise $3000 profit + any coins mined to date already.
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