Miners Boycot Ghash.io !

[darkphantom934]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

[Foysal]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

I agree, someone should create a better pool. The tie in with the GHS trading platform is a stroke of genius though and shouldn't be dismissed, and I would love to see a similar setup either state side or in the UK!!

It's definitely needed!!

~Foyz

[G K G]

Move your miners to other pools than ghash.io , or we will go downhill !
Ghash is abt to get 51% of the network!

More details here:
http://bitcoinboard.net/miners-boycot-ghash-io-as-the-pool-approaches-51-of-network-hashrate/

+1 don't use BTCguild too. try other small pools.I use bitminter

[frank754]

I've been using the Eclipse Mining Consortium for a while now and have no complaints.

[turtle83]

for me it is the single reason for staying with cexio and that's the equipment being maintained by them, buying equipment is very expensive now and you don't see an ROI for a long time, by which time the difficulty is always increasing.

Are you saying that if you use equipment maintained by them, the difficulty rise wont affect you?

I dont understand on what basis do people buy GH/s on cex.io. 1 GH/s bought today at cex.io will make a total of ~0.01 BTC in its lifetime (assuming 30% difficulty jumps) and from mid may will actually start costing more in maintenance fee than it would mine.

I have a feeling that they artificially inflate prices to make people think that their GH/s is actually worth something. One day when people get better at math, it'll come crashing down. Hope you aren't still holding your GH/s on that day.

[Foysal]

for me it is the single reason for staying with cexio and that's the equipment being maintained by them, buying equipment is very expensive now and you don't see an ROI for a long time, by which time the difficulty is always increasing.

Are you saying that if you use equipment maintained by them, the difficulty rise wont affect you?

I dont understand on what basis do people buy GH/s on cex.io. 1 GH/s bought today at cex.io will make a total of ~0.01 BTC in its lifetime (assuming 30% difficulty jumps) and from mid may will actually start costing more in maintenance fee than it would mine.

I have a feeling that they artificially inflate prices to make people think that their GH/s is actually worth something. One day when people get better at math, it'll come crashing down. Hope you aren't still holding your GH/s on that day.

First of all, it depends in what way you take to profit using cexio\ghashio - I get the feeling a lot of people don't quite understand the concept.

There are 3 ways you do this.

1. Buy gig and sell gig, just as you would buy and sell coins on an exchange.
2. Buy gig and use that to mine.
3. Do both

With number 1. the price is determined by what someone is willing to pay for a gig, exactly the same as what influences the price of a bitcoin. It has nothing to do with mining or difficulty.

I am already ahead of my initial outlay, and I've only been doing this for 2 months now, but since this whole experience moves ever so fast, I am keeping a close eye on the profit drop per block on a daily basis.

~Foyz

[hulk]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

Lets just assume they won't do 51% attack, problem solved

[Foysal]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

Lets just assume they won't do 51% attack, problem solved

Sound like a plan?

https://ghash.io/ghashio_press_release.pdf

[rammy2k2]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

Lets just assume they won't do 51% attack, problem solved

Sound like a plan?

https://ghash.io/ghashio_press_release.pdf

i wouldnt just sleep on that ...

[Foysal]

The reason ghash.io is so popular is because it's a damn good pool. I don't even have any GHS on cex.io, but instead of everyone whining about cex.io, let's all make an initiative to match or beat ghash. That's all it takes. I mean, come on, cex has:

-Merged mining (NMC, IXC, DVC)
-0% fee.....
-amazing stats
-very even payouts


It's hard to match.

Lets just assume they won't do 51% attack, problem solved

Sound like a plan?

https://ghash.io/ghashio_press_release.pdf

i wouldnt just sleep on that ...

Like I said, the reason people stay there is because it is quite convenient and as someone else pointed out, 0 fees.

I don't intend to sleep on it, as it would be silly to just take someones word for it, so I plan to move on if it doesn't fit my end goal anymore.

It's all well and good asking people to move from there. How about setting up a similar pool and exchange platform in direct competition, I'd be more than happy to help set it up? I have a web hosting company based in the UK and software development studio at my disposal.

With the success of cex.io it wouldn't be hard to get miners on board.

~Foyz

[PrintMule]

Wow! Where did this come from?
https://blockchain.info/pools?timespan=24hrs
Stopped mining btc a long time ago, when slush was like 20 to 30% of the pie.

Why the sudden growth?

EDIT: 0 fees? like - even no withdraw fees?

[Foysal]

Wow! Where did this come from?
https://blockchain.info/pools?timespan=24hrs
Stopped mining btc a long time ago, when slush was like 20 to 30% of the pie.

Why the sudden growth?

EDIT: 0 fees? like - even no withdraw fees?

No, there is always a withdraw fee, that's the bitcoin network, not cex.io

The 0% fees is that they do not take percentage fee for you mining at their pool like other pools do, they do charge a very very small amount like 0.00000700 per block for upkeep though.

~Foyz

[wwwin]

Why don't we just petition cex.io to split ghah.io into two separate pools?  Would that not solve the problem?

There no problem, 55% of what is reported as Ghash.io is not their hardware, but individual miners pointing their hardware to ghash. So they only have about 17% hashing power

[wwwin]

for me it is the single reason for staying with cexio and that's the equipment being maintained by them, buying equipment is very expensive now and you don't see an ROI for a long time, by which time the difficulty is always increasing.

I dont understand on what basis do people buy GH/s on cex.io. 1 GH/s bought today at cex.io will make a total of ~0.01 BTC in its lifetime (assuming 30% difficulty jumps) and from mid may will actually start costing more in maintenance fee than it would mine.

For the same reason that people buy antminers etc etc is about the same amount per GHS

[turtle83]

Why don't we just petition cex.io to split ghah.io into two separate pools?  Would that not solve the problem?

There no problem, 55% of what is reported as Ghash.io is not their hardware, but individual miners pointing their hardware to ghash. So they only have about 17% hashing power

Does not matter whose hardware provides the hash. The problem is that a single entity controls the hashrate. By mining at a pool, the pool operator controls the hashrate. The miners would mine whatever work the pool sends them to.

[turtle83]

for me it is the single reason for staying with cexio and that's the equipment being maintained by them, buying equipment is very expensive now and you don't see an ROI for a long time, by which time the difficulty is always increasing.

I dont understand on what basis do people buy GH/s on cex.io. 1 GH/s bought today at cex.io will make a total of ~0.01 BTC in its lifetime (assuming 30% difficulty jumps) and from mid may will actually start costing more in maintenance fee than it would mine.

For the same reason that people buy antminers etc etc is about the same amount per GHS

Are you telling me 0.012 is "about the same amount" as 0.046 ?

In fact even the current antminer price is also way expensive in ROI terms...

[sanos51ck]

In fact even the current antminer price is also way expensive in ROI terms...

Who believes in ROI?

Mining must be seen as an hobby unless btc prices skyrocket...

Sound like a plan?

https://ghash.io/ghashio_press_release.pdf

It's a smart move.

You don't kill a cash cow.

[wwwin]

for me it is the single reason for staying with cexio and that's the equipment being maintained by them, buying equipment is very expensive now and you don't see an ROI for a long time, by which time the difficulty is always increasing.

I dont understand on what basis do people buy GH/s on cex.io. 1 GH/s bought today at cex.io will make a total of ~0.01 BTC in its lifetime (assuming 30% difficulty jumps) and from mid may will actually start costing more in maintenance fee than it would mine.

For the same reason that people buy antminers etc etc is about the same amount per GHS

Are you telling me 0.012 is "about the same amount" as 0.046 ?

In fact even the current antminer price is also way expensive in ROI terms...

You can't compare the price of ghs per ghs of Antminer S1 180 ghs machine to the price you pay to buy a single ghs unit. You got it all wrong. If you want to compare 1 ghs to antminer you have to compare it to the Antminer U1 1.6 ghs USB stick, not to a 180 ghs machine. CEX is not for people that want to buy 200 ghs, unless you are great at trading, it's for people that want to buy a few from them without the hassle of equipment, software, reselling a physical product that its almost worthless in 3 months, etc. etc. It is also for people to point their miners at ghash..
and if you are smart, you can actually mine for free at cex...the price has not moved much in 3 weeks...that is 3 weeks of free mining as in Zero cost.
 

[Operatr]

With the coming multi-million dollar Bitcoin mines, there will be a big offset soon enough.

[krampus]

You can't compare the price of ghs per ghs of Antminer S1 180 ghs machine to the price you pay to buy a single ghs unit. You got it all wrong. If you want to compare 1 ghs to antminer you have to compare it to the Antminer U1 1.6 ghs USB stick, not to a 180 ghs machine. CEX is not for people that want to buy 200 ghs, unless you are great at trading, it's for people that want to buy a few from them without the hassle of equipment, software, reselling a physical product that its almost worthless in 3 months retarded greedbags who can't do math and don't mind losing BTC in an epic scam, etc. etc. It is also for people to point their miners at ghash..
and if you are smart, you can actually mine for free at cex...the price has not moved much in 3 weeks...that is 3 weeks of free mining as in Zero cost.

Fixed that for you.