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quarkyplum (OP)
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February 05, 2014, 04:28:15 PM |
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what do?
in the past, i've actually profited from CEX by buying, and selling.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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quarkyplum (OP)
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February 05, 2014, 07:19:57 PM |
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the price is still tanking, currently: 0.02596100
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First.Bitcoins
Legendary
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Activity: 1156
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February 05, 2014, 10:08:34 PM |
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Seems like the market is finally adjusting...
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Founding Dev of ArtByte, the crypto supporting the arts, started in NYC - May 1, 2014 ArtByte.me
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BitWinner
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February 05, 2014, 11:38:19 PM |
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I'm thinking it'll go back up again in the 0.035 range... Or at least I hope for my sake!
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mladen00
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K-ing®
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February 06, 2014, 12:12:30 PM |
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on picostocks 1Ghash is under 0.016
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IOTA
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Lethn
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February 06, 2014, 12:52:59 PM |
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Probably a result of more competition coming into the marketplace everyone is starting to dump it en masse, when more scrypt hashing stuff comes out they'll be finished.
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Sonny
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February 06, 2014, 02:03:24 PM |
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I'm thinking it'll go back up again in the 0.035 range... Or at least I hope for my sake!
nah...it won't happen.... |
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BitWinner
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February 06, 2014, 02:32:39 PM |
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I'm thinking it'll go back up again in the 0.035 range... Or at least I hope for my sake!
nah...it won't happen.... That's what I thought around Christmas time. After plummeting, it came back up in the 0.045 range in Jan. You never know... |
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odolvlobo
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February 07, 2014, 08:19:35 AM |
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I'm thinking it'll go back up again in the 0.035 range... Or at least I hope for my sake!
nah...it won't happen.... That's what I thought around Christmas time. After plummeting, it came back up in the 0.045 range in Jan. You never know... Wishful thinking, hoping, and praying are all terrible investment strategies. |
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Sonny
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February 07, 2014, 08:40:42 AM |
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I'm thinking it'll go back up again in the 0.035 range... Or at least I hope for my sake!
nah...it won't happen.... That's what I thought around Christmas time. After plummeting, it came back up in the 0.045 range in Jan. You never know... Wishful thinking, hoping, and praying are all terrible investment strategies. Well said. The current price ~0.028 is highly overpriced. To get the price back up, you either need (a) difficulty increase at a much slower pace in the future (b) more people buying hashrate with no idea about the profitability. |
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BitWinner
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February 07, 2014, 01:53:27 PM |
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Of course the hashrate is overpriced; this is cex.io.
It really isn't about the mining but about the trading, as countless others have mentioned in the past.
Although I would agree that the new money coming in is more about mining.
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odolvlobo
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February 07, 2014, 05:57:40 PM |
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Of course the hashrate is overpriced; this is cex.io.
It really isn't about the mining but about the trading, as countless others have mentioned in the past.
Although I would agree that the new money coming in is more about mining.
Unfortunately, you are correct. cex.io is simply a game of Hot Potato where the last person holding the shares is the loser. The problem is that most newbies don't know this, and think that they can make money from mining and they end up being the ones that are holding the worthless shares. Look at all the referral links that people post. They need suckers to unload the shares onto so they tell people that cex.io is great for mining. |
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drwatson84
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February 07, 2014, 06:39:01 PM |
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on cex its more profitable trading than bitcoin exchanges unless you are expert in trading on exchanges
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BitWinner
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February 07, 2014, 06:59:21 PM |
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on cex its more profitable trading than bitcoin exchanges unless you are expert in trading on exchanges
Exactly. It's why I make most of my BTC there, actually. I end up not caring about my amount of GH/s because, well, the mining is just a tiny bonus that comes second to the trading. |
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ProTraders
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February 07, 2014, 06:59:42 PM
Last edit: February 26, 2014, 02:18:19 AM by ProTraders |
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odolvlobo
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February 07, 2014, 07:08:32 PM |
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Cex.io can be very profitable for trading. The idea is you can be "mining" and making Bitcoins while holding the GHs then hopefully sell them down the road for a break-even or profit if lucky.
This doesn't work because the longer you hold the shares, the more money you risk losing. At this price, anyone that holds the shares will lose more than double the bitcoins that the shares will mine. |
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DebitMe
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Get Paid Crypto To Walk or Drive
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February 07, 2014, 07:14:00 PM |
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Man Cex.io prices confuse me, I have made some money from daytrading there, but for the most part I shy away from buying GH/s. The price changes too often and too quickly for the average Joe who gets on to check his investments once or even a couple of times a day. And it seems to change extremely sporadically, with no real reason to drop or go up.
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Frost000
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February 07, 2014, 08:30:55 PM |
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Man Cex.io prices confuse me, I have made some money from daytrading there, but for the most part I shy away from buying GH/s. The price changes too often and too quickly for the average Joe who gets on to check his investments once or even a couple of times a day. And it seems to change extremely sporadically, with no real reason to drop or go up.
That's why you should just trade and not hold your GHS. Whatever they do mine while you're holding is a mini bonus, but it's all about the trading... |
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