[Not] Good price at CEX.io

[dyask]

Oh wow, now I've pasted many days of cex graphs together for my blog (they only graph a few days at a time), omitting a boring flat few days, it's hilariously gratuitous.



I think my point here is made. So [sleazy referral link removed] feel free to join cex.io and see if you can outdo me. If you fancy. Use my link, or don't. No pressure.

And during that time -- if you actually held the GHs shares for the duration, and if you didn't you're being dishonest again -- the price of one GHs went from 0.03970247 BTC to 0.0288999.

Wheee!

Huh?  Can't you understand the graph, he is showing exactly what he held when.   Just because you don't understand how the system works doesn't mean that everyone doesn't understand.

[Thom]

And during that time -- if you actually held the GHs shares for the duration

Which I didn't, I traded them. Like I've mentioned repeatedly.

and if you didn't you're being dishonest again --

ah but I didn't, I traded them. Like I've mentioned repeatedly.

the price of one GHs went from 0.03970247 BTC to 0.0288999.

Indeed. and since (28*0.0288999)-(10*0.03970247)=0.4121725, that constitutes a satisfying amount of what some of us like to call profit.

stupid people are blissfully unaware of their own stupidity.

[BorisAlt]

Thom also wins an argument today. What a week!

[krampus]

Which I didn't, I traded them. Like I've mentioned repeatedly.

As long as we're clear that you are day trading, then I don't have a beef. When newbs get encouraged to try "mining" at cex.io, I have a very specific beef.

[dyask]

Which I didn't, I traded them. Like I've mentioned repeatedly.

As long as we're clear that you are day trading, then I don't have a beef. When newbs get encouraged to try "mining" at cex.io, I have a very specific beef.

I don't think anyone cares about your beef.   Oh and mining at CEX has been insanely profitable the last few days.   A huge advantage is that after a plunge you can restart and instantly reinvest earnings as you go.  Price has slowly moved up from .02501 to .02929.   

[Thom]

I traded them. Like I've mentioned repeatedly.

As long as we're clear that you are day trading, then I don't have a beef.

I buy Ghs when the price is low, Sell it when it's high, and keep doing that

Ghs at cex being liquid makes them instantly tradeable on the highs and lows

When newbs get encouraged to try "mining" at cex.io, I have a very specific beef.

Note the dates. Looks like you still have a beef, because

mining at CEX has been insanely profitable the last few days

So I'll continue to recommend cexio with the results to back it up to anyone who can read a chart and buy/sell with appropriate timing.

I traded them. Like I've mentioned repeatedly.

Such beef. So oblivious. Wow.

[BorisAlt]

Which I didn't, I traded them. Like I've mentioned repeatedly.

As long as we're clear that you are day trading, then I don't have a beef. When newbs get encouraged to try "mining" at cex.io, I have a very specific beef.

I don't think anyone cares about your beef.   Oh and mining at CEX has been insanely profitable the last few days.   A huge advantage is that after a plunge you can restart and instantly reinvest earnings as you go.  Price has slowly moved up from .02501 to .02929.   

Lol would not say "insanely" but got myself 0.5 btc while keeping same GHS. Just could not pass on skimming off top.

[Thom]

I'm flagrantly crossposting here but it's oh so pertinent!

What's more (and I can't believe this isn't talked about more) trading backtests also confirm that running a bot with a 50/50 rapid portfolio balancing script at cexio will result in little to no gain or loss, even if used through massive chart shifts and over long periods of time. Even backtests from day zero of cex confirm this. It would be kinda pointless in other exchanges, but at cex you can combine that with the mining rewards (which can't be simulated in backtesting) and you gots profit right there with very minimal risk of original investment dwindling. Only botfail, server integrity and the largest of whales can threaten that strategy, although it is only for the very patient.

SO I went and did it.

While I've recently maintained that the smart move @ cex is more in the trading than mining, I came to a few theoretical conclusions:

as we see • the value of GHS goes up and down, but mostly down, so mining rewards are outweighed out by the slow drop in GHS value
therefore: • a balance constantly split 50/50 between BTC and GHS will stay (approximately) stable regardless of GHS value shifts
therefore: • a bot doing just that in a cex account will retain the initial BTC investment, and any mining on top of that is pure profit

In theory, it's the "safe" way to mine. So here's a peek at the bot I built to test that theory, and wow was I right!
It's not ready for release, being only 2 days old, and I'd like to test it through much more dramatic GHS value fluctuations than we've had for the last few days before considering it reliable enough to be ready for release.

I called it Librium. After the film Equilibrium. It seemed appropriate. Except it won't shoot you in the face to maintain balance.



I'll let Librium do the talking in the screengrab. The pane on the left is an account that's mostly about hardware miners, and the right pane is an account that only holds GHS: no hardware, no referrals.

The thing that scares me about using tradebots is how they can make a loss a human could have avoided. It's hard to know what config to give your bot while you sleep. Librium will hopefully put an end to that - finally, because of cex's unique trading/mining nature, a tradebot can exist that's all about giving one's balance a sense of balance, making sure it doesn't slip away in value while you're not looking, and folding all those mining rewards back into the very balanced balance. It would be utterly, utterly pointless at any other exchange. @ cex, it's awesome!

I might be persuadable to let a small handful of Librium betas out into the wild soon for tech savvy users if those who want it make a new cex account with my referral link in which to use it. That way I can still benefit from long hours of botcraft and not charge anything for it.
Donations would also make me enthusiastic to finish it, and under such circumstances, donators will of course get it first.

So yup, I'm asking for referrals... in return for making cex more profitable for those who don't want to trade!

Do I win the internet today as well?

[dyask]

I'm flagrantly crossposting here but it's oh so pertinent!

What's more (and I can't believe this isn't talked about more) trading backtests also confirm that running a bot with a 50/50 rapid portfolio balancing script at cexio will result in little to no gain or loss, even if used through massive chart shifts and over long periods of time. Even backtests from day zero of cex confirm this. It would be kinda pointless in other exchanges, but at cex you can combine that with the mining rewards (which can't be simulated in backtesting) and you gots profit right there with very minimal risk of original investment dwindling. Only botfail, server integrity and the largest of whales can threaten that strategy, although it is only for the very patient.

SO I went and did it.

While I've recently maintained that the smart move @ cex is more in the trading than mining, I came to a few theoretical conclusions:

as we see • the value of GHS goes up and down, but mostly down, so mining rewards are outweighed out by the slow drop in GHS value
therefore: • a balance constantly split 50/50 between BTC and GHS will stay (approximately) stable regardless of GHS value shifts
therefore: • a bot doing just that in a cex account will retain the initial BTC investment, and any mining on top of that is pure profit

...

So yup, I'm asking for referrals... in return for making cex more profitable for those who don't want to trade!

Do I win the internet today as well?

It won't work when the market plunges.   GHS can drop several percent in an hour, pretty much straight down and never recover.    Do some backtesting you'll see it doesn't work.   Here is a place for data:  http://bitcoinwisdom.com/markets/bitstamp/btcusd

If someone manually turns it off and gets out the market during a plunge, then it should work.  

Also for anyone that wants to try a bot, my simple rule: NEVER put your API key into a bot you don't have source for and you don't understand.   That is just asking to get ripped off.   So if you try this make sure you have the source code and understand it first.  

[Thom]

It won't work when the market plunges.   GHS can drop 20% in an hour, pretty much straight down and never recover.    Do some backtesting you'll see it doesn't work.   Here is a place for data:  http://bitcoinwisdom.com/markets/bitstamp/btcusd

If someone manually turns it off and gets out the market during a plunge, then it should work.  

Also for anyone that wants to try a bot, my simple rule: NEVER put your API key into a bot you don't have source for and you don't understand.   That is just asking to get ripped off.   So if you try this make sure you have the source code and understand it first.  

Ah methinks you misunderstand though: Librium doesn't need GHS to rise, ever. The exact point of it being made is because n the long run GHS steadily falls. It may in fact be more profitable in steady downslopes. The aim of it is to make sure your balances are balanced, so that at any given point (except in the middle of large candles) you can sell your GHS (slowly if you're a whale) and get out of cex with your initial deposit intact, and more. Which is more than can be said for buying GHS at cex and sitting on it for the highs, lows, and the steady drop.

It could be more efficient and more cautious. Right now it only buys/sells at the ask price, rather than making a spread of optimistic buys/sells. that's next.

Oxymoronic re src though: A bot which one fully understands the source for is a bot one could have made oneself!

*attempts to read and comprehend entire macosX and ubuntu sourcecode* ...oh.

[bitcoin_miner]

if use cex.io for mining only. can I profit?

[FalconFly]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

[Thom]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

And for answers without bitterness:

The value of GHS falls hard and regularly, so:
a) Yes, IF you buy and sell GHS with the right timing. This includes bots like gekko, cryptrade, and I hope mine, soon.
b) If you own mining hardware, it's good as a pool without any GHS/BTC trading.

This dude has me blocked since he's convinced I'm a liar about my cex profits, so he didn't see all my posts above that prove it's possible to profit well at cex.

[bitcoin_miner]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

And for answers without bitterness:

The value of GHS falls hard and regularly, so:
a) Yes, IF you buy and sell GHS with the right timing. This includes bots like gekko, cryptrade, and I hope mine, soon.
b) If you own mining hardware, it's good as a pool without any GHS/BTC trading.

This dude has me blocked since he's convinced I'm a liar about my cex profits, so he didn't see all my posts above that prove it's possible to profit well at cex.

many thanks for your opinion..
this is will open my mind

[dyask]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

Clearly someone who is totally clueless about CEX.io.    I for one never said it is profitable by just mining.   The mining is an added benefit, but it is mainly for trading.  The mining just provides additional opportunities for profit.  Also I've never posted a referral link.   

[FalconFly]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

Clearly someone who is totally clueless about CEX.io.    I for one never said it is profitable by just mining.   The mining is an added benefit, but it is mainly for trading.  The mining just provides additional opportunities for profit.  Also I've never posted a referral link.    

Did I mention your name anywhere in that post (it was indeed not aimed at anyone in specific) ?
If so, give the old man a clue

[dyask]

if use cex.io for mining only. can I profit?

There's two answers :

a) by honest people -> no, mininig with cex.io is highly unprofitable

b) by paid shills -> YES, cex.io is the best thing since the invention of sliced bread! (Joining via referral link is highly preferred)

Your call.

Clearly someone who is totally clueless about CEX.io.    I for one never said it is profitable by just mining.   The mining is an added benefit, but it is mainly for trading.  The mining just provides additional opportunities for profit.  Also I've never posted a referral link.    

Did I mention your name anywhere in that post (it was indeed not aimed at anyone in specific) ?
If so, give the old man a clue

You said there were only two answers.   That pretty much includes everyone that doesn't agree with your narrow viewpoint.   

[FalconFly]

You said there were only two answers.   That pretty much includes everyone that doesn't agree with your narrow viewpoint.   

Oh, so you admit you are a paid shill. Nice to see a flash of honesty in you, didn't expect that.

If you define reality and truth as a narrow viewpoint, I'll happily stick with that.

[dyask]

You said there were only two answers.   That pretty much includes everyone that doesn't agree with your narrow viewpoint.   

Oh, so you admit you are a paid shill. Nice to see a flash of honesty in you, didn't expect that.

If you define reality and truth as a narrow viewpoint, I'll happily stick with that.

Huh?  You are very narrow minded indeed.    I've never been paid by CEX.io.   However I have made BTC there.     

The price there isn't good for just mining.  But there are many ways to make BTC with the combination of trading and mining.   It isn't for everyone but at least I've used it and have some idea what I'm talking about. 

[FalconFly]

Huh?  You are very narrow minded indeed.    I've never been paid by CEX.io.   However I have made BTC there.    

The price there isn't good for just mining.  But there are many ways to make BTC with the combination of trading and mining.   It isn't for everyone but at least I've used it and have some idea what I'm talking about.  

So you take back your previous statement that was your response to a question clearly asking about profitability with mining only ?

Clearly someone who is totally clueless about CEX.io.    I for one never said it is profitable by just mining.   The mining is an added benefit, but it is mainly for trading.  The mining just provides additional opportunities for profit.  Also I've never posted a referral link.    

.