ghash.io is becoming SHOCKINGLY AGGRESSIVE NOW, closing in 45%

[roy7]

i see on this web some people selling 1gh for 0.0130BTC / Hash. If I have 200GH, I make 448USD per month.~ (0.71 BTC / month)

Now, if I sell 200GH @ 0.0130BTC = 2.6BTC (per day?)

You'd be buying 200GH of hash power in the cex.io exchange for 2.6BTC. As opposed to, say, buying a 180GH AntMiner S1 for under 1 BTC. At least .013 is better than the .04 people used to sell hash power for there, but it still makes no sense to me at all.

[1715301867]

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[dandirk]

You'd be buying 200GH of hash power in the cex.io exchange for 2.6BTC. As opposed to, say, buying a 180GH AntMiner S1 for under 1 BTC. At least .013 is better than the .04 people used to sell hash power for there, but it still makes no sense to me at all.

Not only does the prices not make any sense but the market either.  Why would anyone speculate/trade/invest in a product who's value will drop due to difficulty inflation?

It is just hot potato with money... don't get stuck holding the "shares" lol.

[markthemarker]

wouldn't it make sense for me to be selling 180gh all the time instead of mining?

[TechByPC]

wouldn't it make sense for me to be selling 180gh all the time instead of mining?

Cex doesn't allow you to sell your own GHS to other people. Only their own GHS.

The market right now at 0.013 is definitely broken. By broken I mean engineered to take advantage of ignorance. Anyone buying at current prices while the futures contracts are available are severely mathematically challenged. It is very easy to calculate mining profit per day over the time remaining until the futures contract matures and will find that the futures contract is cheaper.

Still it is possible to make money trading, but at any moment those manipulating the market may take profits which will drop the price back to something reasonable. What dandirk said: Don't be holding the hot potato when that happens. The closer we get to the maturity date of the contracts the more obvious this will become.

[markthemarker]

Oh, I completely misunderstood. I thought you were, somehow, able to sell your own GHs... That is why I simply couldn't understand wtf was going on.

Seriously... you just need 10 seconds to find out whether or not you should pay 1BTC for 10GH? (or whatever)..

[lightfoot]

A pool where people could sell their own GH...........

That's a very interesting idea.

[xstr8guy]

You'd be buying 200GH of hash power in the cex.io exchange for 2.6BTC. As opposed to, say, buying a 180GH AntMiner S1 for under 1 BTC. At least .013 is better than the .04 people used to sell hash power for there, but it still makes no sense to me at all.

Not only does the prices not make any sense but the market either.  Why would anyone speculate/trade/invest in a product who's value will drop due to difficulty inflation?

It is just hot potato with money... don't get stuck holding the "shares" lol.

Learned this lesson the hard way!

I accumulated over 1THs on GHash during a relatively stable period where pricing didn't fluctuate much.  I even made a few satoshis day trading.  Then came a long series of their infamous "waterfalls".  It was too late for me to get out without a huge lose and then greedily waiting for a modest price bump compounded my loss.

My (far fewer) coins are now safely back in my wallet.  Enjoy the low variance that you get from mining on GHash but stay away from trading unless you are a VERY savvy trader!  I could have added about 8 Antminers to my farm with my loss. 

[markthemarker]

You'd be buying 200GH of hash power in the cex.io exchange for 2.6BTC. As opposed to, say, buying a 180GH AntMiner S1 for under 1 BTC. At least .013 is better than the .04 people used to sell hash power for there, but it still makes no sense to me at all.

Not only does the prices not make any sense but the market either.  Why would anyone speculate/trade/invest in a product who's value will drop due to difficulty inflation?

It is just hot potato with money... don't get stuck holding the "shares" lol.

Learned this lesson the hard way!

I accumulated over 1THs on GHash during a relatively stable period where pricing didn't fluctuate much.  I even made a few satoshis day trading.  Then came a long series of their infamous "waterfalls".  It was too late for me to get out without a huge lose and then greedily waiting for a modest price bump compounded my loss.

My (far fewer) coins are now safely back in my wallet.  Enjoy the low variance that you get from mining on GHash but stay away from trading unless you are a VERY savvy trader!  I could have added about 8 Antminers to my farm with my loss. 

Holy crap...

Anyway, I completely misunderstood how GHash worked. I thought you could "sell" your own GH from your mining devices (somehow!) and couldn't understand how someone would be purchasing 1 GH for an outrageous price that would never make ROI.

I guess they are just trying to make money out of people who think maybe they can buy a few GH cheap, sell for more money while they bank a shitload of money.

[NewLiberty]

GH value decreases as difficulty increases.

[Zetler]

My Daily Hash Rate is higher than that of my highest Hourly Hash Rate, according to the stats at GHash.

My daily rate was 211, whereas the hourly rates ranged from 199 to 209.
My payout was 21.1 mBTC with 24h57m since previous payout.

Why is the daily rate not the average of the hourly rates?
And what is likely to be my real rate?
Could I have done better in another pool?

[xstr8guy]

Your real rate is never really real.  It is only an estimate by the pool.  Someone can explain it much better than I can.  But anyways, the longer sample period, day vs hour, is going to be most accurate.

[Tikii]

A pool where people could sell their own GH...........

That's a very interesting idea.

Would never work, anyone could unplug their machine and run away with the money lol.

[wachtwoord]

A pool where people could sell their own GH...........

That's a very interesting idea.

Would never work, anyone could unplug their machine and run away with the money lol.

Just block the ability to withdraw the funds until you delivered.

[ajw7989]

ghash is now only 21% but what is more interesting is what is this unknown that is 31% of the network now

[Trongersoll]

ghash is now only 21% but what is more interesting is what is this unknown that is 31% of the network now

Really, you don't know what that is. It is a combining of all the different miners that the site has no difinitive identification for.

[DPoS]

most of that unknown is KNC

someone else makes their own chart and lists it

[lightfoot]

Well, I just moved 30gh over to Nastyfans. Let's see what p2pool can do over the next week or two. I'll move another 300gh tomorrow. Or maybe tonight if I can figure out if my shares are being accepted to the right wallet.

C

[organofcorti]

ghash is now only 21% but what is more interesting is what is this unknown that is 31% of the network now

No, if you put a bit of effort in, you find only 7% unknowns: https://bitcointalk.org/index.php?topic=77000.0

[bitpop]

I will personally pay a visit to anyone known to be using ghash and punish them. Tactical loadout on the rifle in hand.

[Minor Miner]

No, if you put a bit of effort in, you find only 7% unknowns: https://bitcointalk.org/index.php?topic=77000.0

It only takes a "little" effort because of the large effort organofcorti already puts in each week.