Better To Mine Or Use Cex Site?

[nubbins7]

Hi i was wondering is it better for me to put my $150 dollars into buying
3 usb miners or putting it into a site like cex's site? What is better profit at
that small amount of money i have

[high110]

Hi i was wondering is it better for me to put my $150 dollars into buying
3 usb miners or putting it into a site like cex's site? What is better profit at
that small amount of money i have

I don't know what the price points you're looking at is...but do a BTC/GHS or dollar/GHS calculation.  Hands down, it will be the hardware. Unfortunately, it's very hard to recover through your miner.  I would just buy BTC.  So if you buy BTC, then you can get into CEX.io.

Here's a few terrible things you should know about the current market condition:

1) The BTC/GHS rate is extremely high at .085 meaning you're way over paying and it's due to correct it self eventually.  So if you're not watching the market closely and you miss the correction, you can lose a lot.
2) They started implemented fees Nov 12 for mining (so less BTC for you).

On a good note:

1) The GHS on Cex can be sold easily... so you will have to become a day trader to succeed!

All the best and good luck.

[WayTooGosu]

Use Cex, by purchasing GHS on their site, you are just letting them hold your BTC for you while they mine for you. This is true because you can so easily sell your GHS when you feel like stopping and just get back all (and maybe more if you buy low and sell high) of the BTC you invested plus the BTC that was mined for you. Also, you will not have to worry about power consumption and purchasing or maintaining hardware.

[dominicwin]

CEX if you are looking for the easier route. And you can even make extra by selling your contract back at a higher rate.

[nubbins7]

Ok great thanks to everyone that has gave me some info to work with
the main reason why i asked because i purchase 1 GHS about 2 weeks ago
so i figured i would get 2 or 3 usb miners and see how that works out for me.

[daledaledale]

DON'T MINE on cex.io, the numbers don't make sense, read here: https://bitcointalk.org/index.php?topic=345578.0;topicseen

You are better off to just buy BTC with USD.  You will never get as many BTC out of cex.io as you put in, UNLESS you are lucky and manage to spec trade back and forth between GHS and BTC for profit.

[btcave658]

Is there any cloud mining site like cex.io that accepts paypal? or maybe similar site but for scrypt mining?

[zakorus]

Is there any cloud mining site like cex.io that accepts paypal? or maybe similar site but for scrypt mining?

as a lurker who has lurked for a whole year on this site without signing up... i hope so. cus i signed up to find out how i could mine and make some BTC/LTC/PPC/whatever without losing too much money.
fiat money is still valuable to me seeing as i dont have any cryptos yet.

if anyone is listening with the cash to do it. can someone PLEASE build a good cloud that accepts usd for us who havent quite gotten into the groove yet?

thx

[high110]

Is there any cloud mining site like cex.io that accepts paypal? or maybe similar site but for scrypt mining?

Paypal is ok to buy, but finding a buyer is going to be hard since so many scams involve paypal. 

[Lesall]

I have a few GHs on cex but I agree that its more about trading between GHs and BTC. To be honest, I like to spent my money on shares of groupbuys, less trouble with local mining hardware and I still get paid with BTC on a weekly basis.

[high110]

I tried some group buys - I should follow up and see how they are doing =)