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Ultimist (OP)
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January 30, 2014, 11:43:34 PM |
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Their current price per GHS is .0339 BTC
If you plug that number, multiplied by the number of GHS you wish to purchase, into their mining profit calculator... the amount of profit over the following year NEVER reaches the amount you spent to get the GHS... and so you never recover your initial investment even if they had 0% maintenance fees.
So I'm failing to see why people are using the site. I know you can make money trading based on the ups and downs of the GHS price, but if your intention is to mine, forget it.
Are there any good cloud mining services where you can actually profit?
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h3rlihy
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January 30, 2014, 11:53:11 PM |
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Cex.io might as well be a scam unless you buy to trade. But mining... meh.. i wouldn't. If you want a good mining opportunity, click my sig. As soon as I saw what they were offering I pretty much immediately threw money at them. You're looking at making $200-$300 on a $120 investment. So yeah, I went for it myself and gave them over a grand :'D ^.^'
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odolvlobo
Legendary
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Activity: 4298
Merit: 3214
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January 31, 2014, 01:23:14 AM
Last edit: January 31, 2014, 06:12:13 AM by odolvlobo |
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It is not a scam, but as you have discovered, the shares are extremely overpriced. They need to sell for less than 0.015 BTC to have a reasonable chance of breaking even.
Some people say that trading is the way to make money. I'm curious how many of them bought shares only 5 days ago at 0.045 BTC and still own them at 0.034 BTC. That's 25% loss. Looks like trading is a money loser, too.
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cp1
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January 31, 2014, 01:24:18 AM |
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Why would they sell at a rate that was less than they would make if they just mined themselves?
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h3rlihy
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January 31, 2014, 01:36:55 AM |
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It is not a scam, but as you have discovered, the shares are way overpriced. They need to sell for less than 0.015 BTC to have a reasonable chance of breaking even.
Some people say that trading is the way to make money. I'm curious how many of them bought shares only 5 days ago at 0.045 BTC and still own them at 0.034 BTC. That's 25% loss. Looks like trading is a money loser, too. You can still gain through trading on a downtrend. There will always be fluctuations you can take advantage of. |
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jaqanhghar
Newbie
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Activity: 1
Merit: 0
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January 31, 2014, 02:50:14 AM |
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such sketchy domain name...
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empoweoqwj
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January 31, 2014, 03:14:04 AM |
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scam? No. Practically guaranteed to lose you money? Yes.
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Smileyftw
Member
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Activity: 70
Merit: 10
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January 31, 2014, 06:02:29 AM |
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theres a cloud mining service like CEX.IO where you can make money
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mrhelpful
Legendary
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Activity: 1456
Merit: 1002
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January 31, 2014, 06:31:30 AM |
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That sites a waste of time, any person has so many better options at this point.
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empoweoqwj
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January 31, 2014, 07:28:18 AM |
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That sites a waste of time, any person has so many better options at this point.
But people still swarm to it. Why? |
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blacksails
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January 31, 2014, 10:23:58 AM |
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scam? No. Practically guaranteed to lose you money? Yes.
Not if you're lucky with the GH/s price! I was, and I made quite a lot!  So, no it's not a scam! |
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ibitcoinblog
Newbie
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Activity: 18
Merit: 0
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January 31, 2014, 10:56:55 AM |
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No it's not a scam, but it is filled with a lot of bots that fluctuate the price a lot.
As long as you can earn back what you can possibly lose in a timely manner.
I'd recommend more trading ghs rather than holding.
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Sonny
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January 31, 2014, 12:00:20 PM |
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Their current price per GHS is .0339 BTC
If you plug that number, multiplied by the number of GHS you wish to purchase, into their mining profit calculator... the amount of profit over the following year NEVER reaches the amount you spent to get the GHS... and so you never recover your initial investment even if they had 0% maintenance fees.
Scam? NO. But you are right, the price is extremely highly priced, and you can hardly get your investment back. |
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Sonny
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January 31, 2014, 12:02:03 PM |
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theres a cloud mining service like CEX.IO where you can make money
I highly doubt that. Care to share the info?  Seriously, why don't the site use the hashrate to do mining for themselves then? |
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balanghai
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January 31, 2014, 12:03:30 PM |
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cex is an investment venture. Just like stocks exchange or forex. It's in your click and timing. The worst you plan or project, the bigger the chance of losing it all.
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tinyteapot
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January 31, 2014, 12:39:42 PM |
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That sites a waste of time, any person has so many better options at this point.
But people still swarm to it. Why? It is very heavily advertised on faucet and ptc sites, so probably attracts newbies. |
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Sonny
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January 31, 2014, 12:45:16 PM |
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That sites a waste of time, any person has so many better options at this point.
But people still swarm to it. Why? It is very heavily advertised on faucet and ptc sites, so probably attracts newbies. And some users keep telling others "the site is easy to use", and ask them to register with referral links.  |
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Timerondsc
Newbie
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Activity: 224
Merit: 0
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February 27, 2014, 08:09:09 AM |
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There are a lot of other good cloud mining services. Using Cex.io you'll lose all your money
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elavenil
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February 27, 2014, 04:17:38 PM |
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Many people don't calculate, they fall for overpriced trap. There are many online calculators you easily calculate your profit/loss . When i first heard the cex.io i am tempted to purchase from there.
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Chemistry1988
Legendary
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Activity: 1120
Merit: 1000
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March 01, 2014, 08:13:07 AM |
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not really a scam, but a very terrible investment choice...
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