Serious qestions about CEX.io and other cloud mining services

[MICRO]

Yeah better ur btc sit in cex and making u some small profit than sitting in ur wallet doing nothing .
And also add there some good refs. And do bit trading . U can make some nice profit.

Bottom line, YOU GOTTA SPEND MONEY TO MAKE MONEY! It's as simple as that...

I totally agree with u . Cex cant make u loads of money on ur investment , but its pretty safe investing there and will make u some profit. Not much but better than nothing. Atm if u have more than 160 ghs, for me that will make some nice profit for doing nothing.

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[odolvlobo]

Yeah better ur btc sit in cex and making u some small profit than sitting in ur wallet doing nothing .

That is just not true. In general, the more you mine using cex.io, the more money you lose. You are much better off holding BTC in your wallet than buying GH/s and mining. This has been shown many times already.

Here are the ways a profit can be made on cex.io:

1. You buy GH/s at a much lower price (below 0.012 BTC), and you mine.
2. You trade frequently and you are very good/lucky.
3. The difficulty remains flat or falls (possible, but extremely unlikely).
4. Spam referral links (as suggested by MICRO).

[MICRO]

Yeah better ur btc sit in cex and making u some small profit than sitting in ur wallet doing nothing .

That is just not true. in general, the more you mine using cex.io, the more money you lose. You are much better off holding BTC in your wallet than buying GH/s and mining. This has been shown many times already.

There are three ways a profit can be made on cex.io:

1. You buy GH/s at a very cheap price (below 0.012 BTC) and you mine.
2. You trade frequently and you are very good/lucky.
3. The difficulty remains flat or falls (possible but extremely unlikely).

Well hm... u have good point coz price rely drooping.
But there is one more way , let refs buy ghs for u

[vlc]

Did the original questioner remember to include the fact that at the end of that year you still have the original ( but depreciating ) GHS to sell back to BTC?  And if one were to re-invest the mined coins as they come, there is the opportunity to mitigate the depreciation of the total GHS on the account, by constantly increasing the mining power by using at least some of the profits.
However, I don't know if the value of the BTC mined would be enough to buy sufficient extra GHS to create a virtuous cycle. Probably only some of the time.  But part of this model involves timing when to move between GHS and BTC.  i.e. Trading one for the other for a profit.
In some ways this could be more sensible than buying the mining hardware because it is difficult to convert the BTC (or fiat) you used to buy the equipment back into BTC.  

[MICRO]

I invested 0.05ish btc for 5ghs in this http://pbmining.com/ . Its for 5 year so no trading or selling ur ghs. But at this price of 0.011 btc / 1ghs. U should get ur money back in 60ish days. So everything after that for the next 5 years is pure profit. And also they are paying out evry week so u dont even need to check or cashout . Just forget about it and get btc in ur wallet evry week.

[quarkyplum]

ez answer: u sell

[odolvlobo]

Did the original questioner remember to include the fact that at the end of that year you still have the original ( but depreciating ) GHS to sell back to BTC?  And if one were to re-invest the mined coins as they come, there is the opportunity to mitigate the depreciation of the total GHS on the account, by constantly increasing the mining power by using at least some of the profits.

Do the math. The price has dropped 90% in the last 4 months and mining has returned only 50% of the purchase price. Reinvesting would have only compounded the loss.

[michaelhampton2]

Use pbming.com, if you are serious about making money.

[elavenil]

Use pbming.com, if you are serious about making money.

If we use pbmining can we make profit?

[MICRO]

Use pbming.com, if you are serious about making money.

If we use pbmining can we make profit?

U will get invested money back in 60ish days. After that everything is profit for next 5 years .

[allegro]

Cloud mining *can* turn a profit but the problem with cex is not their hardware or the site itself, it is the site management which likes to jerk around users and change there TOS on a whim. There are several alternatives to cex.io, I hope the new one that is creating a buzz eventually forces cex lower on the scale.

My advice is do not trust cex.io or Jeffrey Smith AT ALL.

What are some viable, reputable alternatives to CEX?

Take a look at Hashnest. You can buy (and sell) hashing power and no one doubts legitimacy of Bitmain.

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