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Author Topic: Cloud Mining: - The story so far…..  (Read 8046 times)
IYFTech
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November 26, 2013, 04:28:18 AM
 #1

Picture, if you will, a warehouse somewhere in Ukraine where three gentlemen are sitting around a table sniffing lines of powdered chips through rolled up computer hardware receipts….

Bosski1: *sniff* “Boyz!!  Look at us – we’re mining at full capacity, soon to be the biggest pool in the world & making a very handsome profit indeed – well done boyz!!”

Bosski2: *snort**sniff* “But it’s not enough Bosski – we should be making much more profit to enable us to continue with our powdered chip habit”

Ripovski: *sniff sniff* “But Bosski, we are already at maximum profit & 100% efficiency, I can’t squeak another millibtc out of the hardware”.

Bosski2: “Don’t be stupid Ripovski *sniff* just double spend some more, those idiots won’t notice anything…*sniff*”

Ripovski: *gulp* - *big sniff*”Erm, actually Bosski – I’ve been meaning to talk to you about that….”

Bosski1: “Why Ripovski? You look worried…..what’s happened?”

Ripovski: *big gulp* “Well Bosski, somebody found out about what we’ve been up to & posted about it to the entire world wide webz.”

Bosski2: “What!? I told you to cover your tracks Ripovski, & make sure the idiots couldn’t trace it back to us – how did this happen?”  *snort**sniff*

Ripovski: “Well Bosski, it seems they’re not all idiots like you thought – we’re busted.”

Bosski1: *snort* “Ripovski?”

Ripovski: *sniff* “Yes Bosski?”

Bosski1: “You’re fired!” *snort*

Ripovski: *sniff* “But Bosski……”

Bosski2: *snort* “Don’t worry boyz! Come back here Ripovski, I have an ingenious plan that will make us even more profit with no risk of being caught out by any more cleverdick idiots. Ripovski – I want you to design the prettiest, fanciest & most expensive looking website ever, we’re going to sell off our hash rate at more than twice the price it’s worth – and then charge the idiots to use it only on our pool– it’s perfect I tell you!!”

Bosski1: “I like it! This sounds very promising indeed….I’ll go straight to London & slip someone a few quid so that I can start a new company – that will put us in the clear when I write a statement to the idiots….Ripovski?”

Ripovski: “*sniff* “Yes Bosski?”

Bosski1: “You’re hired – get to work” *sniff*

Ripovski: “Erm, but Bosski – what idiot is gonna buy our hash rate at twice the price its worth & then pay to mine at our pool with it?”

Bosski2: “Ah, that’s the clever bit – we tell them they can sell it at any time they want for a profit, simple!”

Ripovski: “ But Bosski, to sell it at a profit, some idiot will have to want to pay even more for it – who’s gonna do that?”

Bosski1: “*sniff* “Another idiot probably. All we have to do is convince them that they are getting a good deal, right Bosski?”

Bosski2: “Exactly! And get this – this is the REALLY clever bit -*snort*- we, or rather you Ripovski, will control the price of the hash rate to ensure that we can’t make a loss – this will keep the idiots so busy trying to guess the market price that they won’t go anywhere else!”

Ripovski: “But Bosski, surely there can’t be that many idiots who will fall for our little plan? What if they realise what’s going on? It’s happened before”

Bosski1: “We’ll just do what we done before – ignore them. But don’t worry boyz, that won’t happen this time, Bitcoin is getting bigger every day - and there are hundreds of new idiots arriving daily with it - & they’ll all come straight to our pretty, shiney site that promises them wealth & stardom beyond their wildest dreams – isn’t that right Ripovski?”

Ripovski: *snort* “Erm, if you say so Bosski, yes”.

Bosski2: *snort* “Anyway, even if the idiots do cotton on to what we’re up to – we’ll be long gone swimming in wodka & caviar before they know it….”

Bosski1: “Ripovski!”

Ripovski: “Yes Bosski?”

Bosski1: *snort*“Make sure you cover our tracks properly this time – I don’t want to have to fire you, start another company & then hire you again…..”

Ripovski: “OK Bosski”

------------------------------------------------------------------------------------------------------------------------------------------------------------

                                                                And they all lived happily ever after – The End (or is it?)
------------------------------------------------------------------------------------------------------------------------------------------------------------

Right, before you all start – this is a fairy tale. Any similarity of characters, persons or companies to any real life entity is completely unintentional & must be a total freak of nature or something like that.

Honest.

Or maybe it’s something to do with what I just smoked – it’s wicked this stuff……it’s like ESP or something, I dunno.
Anyway, expletives & CAPITOL LETTERS!!! can now be added at your leisure below – knock yourself out.

Be careful out there in Bitcoin mining land……. Wink

-- Smiley  Thank you for smoking  Smiley --  If you paid VAT to dogie for items you should read this thread:  https://bitcointalk.org/index.php?topic=1018906.0
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November 26, 2013, 08:43:54 AM
 #2

Are you talking about cex or what ? :O
IYFTech
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November 26, 2013, 10:20:42 AM
 #3

Are you talking about cex or what ? :O

Who?

-- Smiley  Thank you for smoking  Smiley --  If you paid VAT to dogie for items you should read this thread:  https://bitcointalk.org/index.php?topic=1018906.0
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November 26, 2013, 01:16:11 PM
Last edit: November 26, 2013, 03:33:28 PM by MiningBuddy
 #4

Are you talking about cex or what ? :O

Who?

https://cex.io

You were thinking Sex.io  Cheesy

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Tommygun
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November 26, 2013, 01:33:41 PM
 #5

I wonder what cex stands for...
Didldak
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Oh boy!


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November 26, 2013, 02:32:25 PM
 #6

Quote:

Quote
CeX Ltd. is a second hand goods chain based in the United Kingdom specialising in technology, computing and video games. It was established in 1992 in London, and has since grown to have over 200 stores in the UK. CeX used to go under the name Computer Exchange but switched to CeX. CeX stands for Complete Entertainment Exchange.

Cheesy

Hey.. watsup.
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November 26, 2013, 02:58:23 PM
 #7

I'm getting the same feeling from the cloud mining I bought. I paid $300 for 4 GH/s for a years contract back in August. Now I'm looking at BFL's pre-orders going at like $10 per GH, I'm totally depressed.

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Didldak
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Oh boy!


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November 26, 2013, 03:01:02 PM
 #8

Well, did you get at least 0.5BTC from that?

Hey.. watsup.
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November 26, 2013, 03:13:24 PM
 #9

Well, did you get at least 0.5BTC from that?

Mining started in September and so far I've gotten 0.21BTC

\   \  \ \\\\\\\\\\\\\\\\◥◣◢◤//////////////// /  /   /
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November 26, 2013, 03:15:48 PM
 #10


I have made around 0.5BTC from CEX.io so far.  Some ups and downs, but I am up at the moment.

CEX.IO  - Get yourself into bitcoin mining -no min starting point to figure out how it works while you mine.
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Oh boy!


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November 26, 2013, 03:21:58 PM
 #11

Cex is not bad, but it feels like Im making more money by reselling GHs than by mining... Probably because I dont have too many BTC yet.. but Ill transfer earnings from slush to cex and increase the hash rate.

Hey.. watsup.
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November 26, 2013, 10:47:57 PM
 #12

That story sounds of familiar somehow....

I don't think it is a bad way to mine, as you can hopefully get the value out of the GHs by reselling.  My personal mining equipment becomes worthless after the return becomes negative.
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November 26, 2013, 11:20:22 PM
 #13

CEX is good. I used it. The put a good service together and they are honest so far.

You can't really hold it against them that the price of GH naturally falls like a rock and you lost money on your investment. LOL try buying a psychical miner. At least you GH will be worth something in 3 months.  For example the asicminer cube i'm getting (for 1 btc) I've projected that after 3  / 3.5 months it's primary use to me will be as a space heater for my apartment.

I had some spare btc so I bought 35 gh/s during the boom.  The price has gone up since then, I bought in around .079.  You'll never have the price of your investment go up in physical hardware (unless you figure on selling it over-priced on ebay or something somewhat dubious).

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November 27, 2013, 06:47:14 AM
 #14

yay psychic mining

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November 27, 2013, 08:03:50 PM
 #15

Playing with cex is risky. I bought 5Gh/s @ 0.85 and after 2 hours the price was @ 0.78...

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November 27, 2013, 08:20:23 PM
 #16

Then buy at 0.075 and sell when it gets to 0.08   Roll Eyes

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November 27, 2013, 08:56:25 PM
 #17

Playing with cex is risky. I bought 5Gh/s @ 0.85 and after 2 hours the price was @ 0.78...

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Dude, buying at that price isn't risky - just plain daft.... Roll Eyes

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November 30, 2013, 12:23:18 PM
 #18

I lulz'd at this - very good indeed. Unfortunately I have a feeling that the sequel will not be so "happy ever after"........

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December 03, 2013, 01:00:02 AM
 #19

The sarcasm just reeks and bleeds from this post its all bled out. Hey if your a gambler or have a six sense. You can make some BTC from cex. Dont get caught with the hot potato though and start thinking like a  gambler.

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December 03, 2013, 03:48:13 PM
 #20

I'm getting the same feeling from the cloud mining I bought. I paid $300 for 4 GH/s for a years contract back in August. Now I'm looking at BFL's pre-orders going at like $10 per GH, I'm totally depressed.

Thats if BFL ever deliver, i waitied nearly 12 months for a 5Ghs miner, not impressed!  i wont be using them again Angry

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