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furezasan
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December 18, 2013, 05:22:23 AM |
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I'm currently making a loss... waiting for price to go up so I can sell and at least to break even.
But it's another option than trading at exchanges and the site is a breeze to use, plus you can keep an eye on all all kind of stats about your GH/s shares vs pool speed and difficulty.
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cowandtea
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December 18, 2013, 02:08:38 PM |
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Same as how I don't understand people buying expensive usb erupters..
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kuverty
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December 18, 2013, 02:55:28 PM |
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Same as how I don't understand people buying expensive usb erupters..
I was wondering about those too. They're really expensive! No way to make a profit. |
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LightningBlade
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December 18, 2013, 03:19:08 PM |
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After the bitcoin price rise too many newbie lured into the mining game without knowing a single thing about difficulty
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sneeze
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Activity: 70
Merit: 10
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December 18, 2013, 06:37:47 PM |
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I have 13 USB Block Erupters that reached ROI and then some (electricity included). The very tiny profit was invested in CEX and profits from that got re-invested. I also pointed my miners to GHash. I'm not sure that was the best move but i keep my chin over the water level. I don't make a bunch of dollars but i never intended to either. I am on the + side and i also became a hodler a couple of hours ago..  Comments? |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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December 18, 2013, 10:13:19 PM |
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I have 13 USB Block Erupters that reached ROI and then some (electricity included). The very tiny profit was invested in CEX and profits from that got re-invested. I also pointed my miners to GHash. I'm not sure that was the best move but i keep my chin over the water level. I don't make a bunch of dollars but i never intended to either. I am on the + side and i also became a hodler a couple of hours ago.. Comments? If you're going to say you made back your ROI (on Block Erupters no less) please specify that you made back your fiat. No Block Erupters have been able to make back their BTC unless they were purchased second hand or stolen. Most newbies will think that hardware is worth getting now. I'm glad you made a profit but the reality is that had the $ been spent buying more BTC directly you would have more BTC. That's the debate with all the mining hardware now - will you make more BTC with it over its lifetime than you would have by buying BTC outright. Currently no hardware for sale seems to be worth buying. Fiat ROI is only realized if it is sold and retrieved from an exchange. At least with BTC ROI you ca have it sitting in your cold wallet. |
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realitycheck
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Activity: 85
Merit: 10
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December 18, 2013, 10:44:24 PM |
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Well - CEX.io works for me - and I'm grateful for what they offer.
To be able to buy and sell Ghs instantly offers a whole new dynamic to mining, which is a mixture of the trading exhanges and mining at the same time.
Yes - Just buying to mine will likely not make roi - but buying and selling and mining while the price is stable is an excellent way of fighting the depreciation of mining hardware.
As with everything - you make your choices, but as CEX,io is not just about mining - it would be misleading to write it off on that basis alone.
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CEX.IO - Get yourself into bitcoin mining -no min starting point to figure out how it works while you mine.
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TechByPC
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December 19, 2013, 12:06:24 AM |
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Can you imagine how boring it would be if we all thought alike. How impossible it would be to buy and sell anything if we all had exactly the same interests and desires. Profit isn't the only or the most important motivator for most people. In fact, very few people would be posting on message boards if profit was the most important motivator. Cex.IO is fun for some people, not for others. Collecting and mining with hardware is fun for some people, not for others. Making profit by buying and selling BTC is fun for some people, not for others. All of this creates a market. Most people lose money going to a casino, but that doesn't mean they are unpopular, or that some people will go with the motivation to have fun and maybe make a lot of money. Those same people will return over and over with the same motivation set. Standing outside the casino and warning people against going in because of the odds is irrelevant, and rather silly, especially when most people going in are intimately familiar with the odds. Not every play in a casino is a winner, nor is every play on Cex.IO, buy/sell of BTC, hardware preorder, stock investment, you name it. You can play armchair investment quarterback by claiming that purchasing BTC a year ago was the best investment, but if everyone had done that rather than creating the ASIC craze, then the price would not have changed as dramatically as it did.
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Frost000
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December 19, 2013, 02:51:52 PM |
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Personally, I love cex.io but it's a lot less about the mining than it is about the trading. Just like others pointed out, most of my BTC revenue from cex.io is generated from trading.
With the difficulty changes, there's plenty of BTC to be made with trading.
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DrG
Legendary
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Activity: 2086
Merit: 1035
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December 19, 2013, 03:07:06 PM |
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Personally, I love cex.io but it's a lot less about the mining than it is about the trading. Just like others pointed out, most of my BTC revenue from cex.io is generated from trading.
With the difficulty changes, there's plenty of BTC to be made with trading.
Well if you can double your hashing power via trading then you come out even based on current prices. If you can do more than you made money. Unfortunately most of us don't have that hot a hand. |
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FlyForFun
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December 19, 2013, 03:35:32 PM |
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cex.io is for trading and not buying hash to mine. You won't profit is you buy just for mining purposes |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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December 19, 2013, 04:06:11 PM |
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cex.io is for trading and not buying hash to mine. You won't profit is you buy just for mining purposes No. Exchange are for trading. KNC preorders are for mining. CEX.IO is for trading while mining. |
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Frost000
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December 19, 2013, 04:17:49 PM |
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Personally, I love cex.io but it's a lot less about the mining than it is about the trading. Just like others pointed out, most of my BTC revenue from cex.io is generated from trading.
With the difficulty changes, there's plenty of BTC to be made with trading.
Well if you can double your hashing power via trading then you come out even based on current prices. If you can do more than you made money. Unfortunately most of us don't have that hot a hand. I've indeed almost doubled my GHS in the past 3 weeks, while also withdrawing worthy amounts of BTC more than once. I can understand the hate that some have for it (totally justified given it's inflated GHS prices), but I'm glad it exists. I'd recommend it to others, though obviously I wouldn't suggest anyone to put all of their eggs in the same basket. |
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Frost000
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December 20, 2013, 03:40:03 AM |
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I can understand the hate that some have for it (totally justified given it's inflated GHS prices), but I'm glad it exists. I'd recommend it to others, though obviously I wouldn't suggest anyone to put all of their eggs in the same basket.
While a few people might make money by trading, most people will lose money. You only recommend cex.io because you have been able to take money from the suckers that buy these shares, and you hope to take more. Sure. I don't deny it. The new money coming into the site makes it easy to accomplish good trades (in my favor). Just like any other investment, it always pays to know as much as you can about what you're getting into and I inform my referred friends as much as I can. No one's come back to complain... Yet. |
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btcmonster
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Activity: 77
Merit: 10
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December 23, 2013, 08:50:18 PM |
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it makes no sense to invest in them :/
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TechByPC
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December 23, 2013, 08:57:33 PM |
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Just for the fun of it I set up 4 block erupters on Dec 14, all are operating at the same speed, one on each of the following pools. One of those pools is CEX/GHash. Here is where they are at today:
As of 2013231045 (Eastern US)
BTC Guild: 0.00154781
Eligius: 0.00140232
EclipseMC: 0.00141193
Ghash.IO: 0.0015161 (0.02307720 GHS * 0.0657)
The difference between the pools is small, likely due to luck variance only. I purposefully haven't played the market with cex.io and am attempting to make this as vanilla as possible. Reinvesting proceeds with the buy now function only.
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Frozenace
Member
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Activity: 81
Merit: 10
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December 23, 2013, 11:00:01 PM |
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I only have about 31 GH/s now on cex, in addition to my other ASIC hardware. With other pools, you also have to pay the management fee, so ghash.io is sort of subsidising their pool with the proceeds of the cloud operation, isn't it?
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kickbit
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December 24, 2013, 10:23:04 AM |
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I only have about 31 GH/s now on cex, in addition to my other ASIC hardware. With other pools, you also have to pay the management fee, so ghash.io is sort of subsidising their pool with the proceeds of the cloud operation, isn't it?
I think it is. They don't even have any profit from merged mining on ghash. |
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bigb159
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December 24, 2013, 02:00:37 PM |
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Trading is all about psychology. I have found in my experience that CEX trollbox is filled with lurkers selling honeyed predictions about what is the wisest thing to do and how much they care about you CEX users and how "you seem like a decent guy so I'll tell you to sell or buy NOW!" What we have is classic psychological manipulation of sheeple. They bought their shares at a hight, sold low already, and want you to sell yours so they can recoup their losses through your ignorance.
Why people allow themselves to be manipulated by others on the same trading platform, especially by someone who spends all day in the chatbox doling out advice, is beyond me. The guy is making a living from making you lose.
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