AvalonMiner (OP)
Member
Offline
Activity: 84
Merit: 10
|
|
November 10, 2013, 08:25:26 PM |
|
I see alot of people talking about cex.io and buying gh there etc. and I dont understand the concept of the website at all. Would anyone be kind enough to explain?
|
|
|
|
batt01
|
|
November 11, 2013, 06:56:12 AM |
|
instead of running your own mining rig. You buy Ghs and they do the mining. Right now the current lowest price for 1Ghs is 0.096. To get 1Ghz would require 3x USB block erupters.
To get 1Ghz in AM Usb Block Erupter 0.20BTC 1 Ghz at Cex.io 0.096BTC
1 Blue Fury USB 2.5Ghs 0.43BTC 2.5Ghs Cex.io 0.24BTC
Roughly half the price. Also you have the added cost of buying usb hubs and the cost of running a PC 24/7 or a Rasberry PI to run those. The numbers look better if you have 5k to spend on a KNC Juptier, But it looks very attractive on the face of it. I bought a few Ghs from the site tonight.
Pretty good ban for your bucks, and you dont have to mess with hardware. You can sell your Ghs back at market priices. If BTC prices are up, maybe you can sell for more than you paid. However you Ghz worth will and should decay over time. Look at what a Avalon was worth 6 month ago.
|
|
|
|
frankenmint
Legendary
Offline
Activity: 1456
Merit: 1018
HoneybadgerOfMoney.com Weed4bitcoin.com
|
|
November 11, 2013, 07:20:25 AM |
|
Okay so there is one catch22 when utilizing cex.io. You do need to pay their maintenance fees, outlined here: https://cex.io/maintenanceLooks like now its roughly 3.33 percent of mining profits. (equivalent of mining on a pool with a fee such as btcguild) But that's it. If you can keep your eye on the market and have your gigashashes remaining in sellorders, you could actually make money from the spread too...not just the hashpower only.
|
|
|
|
batt01
|
|
November 11, 2013, 08:36:43 AM |
|
Okay so there is one catch22 when utilizing cex.io. You do need to pay their maintenance fees, outlined here: https://cex.io/maintenanceLooks like now its roughly 3.33 percent of mining profits. (equivalent of mining on a pool with a fee such as btcguild) But that's it. If you can keep your eye on the market and have your gigashashes remaining in sellorders, you could actually make money from the spread too...not just the hashpower only. Also there are no fees on there pool. You have to use your cex bought hash on there pool and you can add any hardware hash you have and save the 3%. At present, if you want a large about of hash. It looks less attractive. Correct me if Im wrong. If you buy 550ghs. Equal to a KNC Jupiter it looks less attractive. But if you dont have 5k to spare, its much better than the lower cost and way overpriced miners. What is the price per GHS of a KNC Jupiter?
|
|
|
|
elasticband
Legendary
Offline
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
|
|
November 11, 2013, 08:43:31 AM |
|
Yesterday I made 5gh/s for free from trading in and out
|
|
|
|
batt01
|
|
November 11, 2013, 08:56:40 AM Last edit: November 18, 2013, 05:37:03 PM by Raoul Duke |
|
Yesterday I made 5gh/s for free from trading in and out
Could you explain how you go about playing the spread?
|
|
|
|
elasticband
Legendary
Offline
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
|
|
November 11, 2013, 09:01:30 AM |
|
well it is easy with the no trade fee, example.
Buy 0.094 sell 0.096 buy 0.091 sell 0.098 buy 0.095 sell 0.0965
rinse and repeat. I have a balance of 21.16019908BTC which i deposited. basically i spend half on shares, then stack another buy order further DOWN the que, stack a sell order higher up the que, then just wait, either i buy more and AVG price is reduced or i sell some and AVG price is reduced. If i sold all my shares i would earn an extra 0.5 on top of what i deposited, not bad for playing a market for 24hrs.
just make small trades frequently and you will do fine, or just wait for the big buys and sells.
|
|
|
|
AvalonMiner (OP)
Member
Offline
Activity: 84
Merit: 10
|
|
November 13, 2013, 10:35:58 PM |
|
Best way is to sign up CEX.io and give it a go. Happy to send you a few coins to get you started if you need it. I would really appreciate if you could, just so i could get to try it abit Address: 1KrfJahRfCUPon8JbD5zVT8QRvGxHrQGsK
|
|
|
|
MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
|
|
November 14, 2013, 12:20:55 AM |
|
I see alot of people talking about cex.io and buying gh there etc. and I dont understand the concept of the website at all. Would anyone be kind enough to explain?
For me on CEX.io over a week now up to about 7ghs most of it bought with alt coin sales from gpu mining. With that said, i am super impressed with the CEX.IO concept and now they have merged 3 alt coins to the mix. I plan to move most of my focus on cloud type hashing as far as BTC goes,,,will still alt mine as it feeds my G/Hash funds lol,,,I like it so far highy recommend.....and and have also wihdrawn funds and all went smooth.
|
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
|
|
|
junshong
Full Member
Offline
Activity: 192
Merit: 100
Hi!
|
|
November 14, 2013, 05:33:56 AM |
|
Basically trading invisible GH/s and mining for you, making money. You could also make some money by trading them.
|
|
|
|
inform
Newbie
Offline
Activity: 42
Merit: 0
|
|
November 14, 2013, 05:38:15 AM |
|
you buy and trade your balance but not referals if you owner 30 referals this GigaHashs be work for you but you not posible sell this i be same question 5 month ago this answer i Rusia but intelectual intuition i understand your brother say you how true
|
|
|
|
inform
Newbie
Offline
Activity: 42
Merit: 0
|
|
November 14, 2013, 05:40:38 AM |
|
Yesterday I made 5gh/s for free from trading in and out
100% how true in practic my situation i am make 0.4 Bitcoin in 1 day same situation this how free 4 GHashs Ok i calculate this same normal
|
|
|
|
batt01
|
|
November 14, 2013, 05:43:37 AM Last edit: November 14, 2013, 12:52:22 PM by batt01 |
|
I see alot of people talking about cex.io and buying gh there etc. and I dont understand the concept of the website at all. Would anyone be kind enough to explain?
For me on CEX.io over a week now up to about 7ghs most of it bought with alt coin sales from gpu mining. With that said, i am super impressed with the CEX.IO concept and now they have merged 3 alt coins to the mix. I plan to move most of my focus on cloud type hashing as far as BTC goes,,,will still alt mine as it feeds my G/Hash funds lol,,,I like it so far highy recommend.....and and have also wihdrawn funds and all went smooth. I am liking it too. Trying to get to 100ghs. I have 51 and I pointed my harware to their pool, and added my hardware hash. No fees on pool. I have gotten .46ghs from refferals. My stats... # Worker 5m 15m 1h 1d Rejected Shares Last 24h Click to edit Stale Duplicate Low 1 batt01.ghash 53.73 Gh/s 52.15 Gh/s 46.29 Gh/s 40.61 Gh/s 0 0 0 16 3 batt01.ghash2 20.08 Gh/s 19.40 Gh/s 18.18 Gh/s 18.13 Gh/s 2512 0 0
|
|
|
|
realitycheck
Member
Offline
Activity: 85
Merit: 10
|
|
November 14, 2013, 08:54:08 AM |
|
Best way is to sign up CEX.io and give it a go. Happy to send you a few coins to get you started if you need it. I would really appreciate if you could, just so i could get to try it abit Address: 1KrfJahRfCUPon8JbD5zVT8QRvGxHrQGsK Sent you something to get you started.
|
CEX.IO - Get yourself into bitcoin mining -no min starting point to figure out how it works while you mine.
|
|
|
Robin
Newbie
Offline
Activity: 42
Merit: 0
|
|
November 14, 2013, 09:02:32 AM |
|
Welcome to the spam topic, where referral links hide under everything
|
|
|
|
AvalonMiner (OP)
Member
Offline
Activity: 84
Merit: 10
|
|
November 14, 2013, 03:52:36 PM |
|
Best way is to sign up CEX.io and give it a go. Happy to send you a few coins to get you started if you need it. I would really appreciate if you could, just so i could get to try it abit Address: 1KrfJahRfCUPon8JbD5zVT8QRvGxHrQGsK Sent you something to get you started. Thanks, I appreciate it
|
|
|
|
Frozenace
Member
Offline
Activity: 81
Merit: 10
|
|
November 18, 2013, 10:23:45 AM |
|
I think the let down of the site is that they don't accept fiat currency. Considering that they are supposed to be a UK limited company, they should probably take google wallet payments as well... the only problem being compliance.
|
|
|
|
|