GHAS.IO (CEX) and GHS

[bmoscato]

I’m somewhat new to the cryptocoin market; I’ve only been mining and learning for a little under a month.  I’ve purchased hardware for both SHA and Scrypt, but I mostly mine BTC on GHASH.IO basically because of the frequency of their block discoveries.

My question is about the GHS service that CEX provides.  It appears that you can purchase 1 gh/s for approximately $2.00 USD, but you are charged a $0.18 fee per month per gh/s.  Both the purchase price and the fee seem high to me.

If I want to purchase a th/s, my upfront cost will be approximately $2,000.00 with an additional $180.00 a month in fees.  Right now I have a Bitmain S2 and I’m only paying approximately $50.00 in power and the unit was $1,799.00.  My current earning at this difficulty are approximately $13.00 a day, meaning that it takes about 4 days to pay for my electric.  If I were to purchase GHS, it would take me 14 days per month to pay my fees before I make money.

Are people purchasing GHS because they don’t know any better, or because it’s convenient?  I’m wondering if I’m just missing something?

Bryan

[DrHaribo]

Yeah, newbies buy at these prices. Some newbies even buy hardware at 10 USD per GH/s. I'm pretty sure they didn't look at the numbers, like you are doing now.

Even 2 USD per GH/s is a horrible price. Then add on the maintenance fees.

Buy your own hardware at under 1 USD per GH/s and host it yourself if you can. That will make a huge difference with profitability. This also helps to keep mining decentralized, which is a very good thing.

[fire000]

tip buddy bitmain and s3 ants ya can get a th or pretty close to it for less that a grand going that way so for ya 2 grand ya can get about 2 th via the s3 ant option and have change for ya 1st couple power bills

[bmoscato]

Thanks, I bought the S2 before the S3 was available; the S3 does have a great price.  I also have a couple of S1's working that I picked up second hand for under 170 each.  I plan on picking up a couple of S3's, I just need to make some money first to reinvest it, rather than paying out of pocket.

[cyberpinoy]

Becasue GHASH has some kind of partnership with places like Bitcointalk., this thread was moved to speculation, there is nothing speculative about the fact Ghash.io is a bunch of lieing, unethivcal therves. You buy 100 GHS of cloud mining and they steal your bitcoins and you end up with a negative BTC balance. THIS IS NOT SPECULATION heres your proof. Put this thread where it belongs and that is not in speculation I am providing proof of GHASH.io Bullshit. You can't speculate something when you hard facts and proof.

2014-12-13 05:20:47   -0.00011816 BTC   -0.00007367    MAINTENANCE   -   Shares 240640 , Cost: -0.00011816
2014-12-13 05:20:47    0.00004888 BTC   0.00004449    MINING   -   Block #334038, Reward: 0.00004888
2014-12-13 02:36:42   -0.00006185 BTC   -0.00000439    MAINTENANCE   -   Shares 125952 , Cost: -0.00006185
2014-12-13 02:36:42    0.00004143 BTC   0.00005746    MINING   -   Block #334031, Reward: 0.00004143
2014-12-13 00:21:36   -0.00004684 BTC   -0.00003482    MAINTENANCE   -   Shares 96768 , Cost: -0.00004684
2014-12-13 00:21:36    0.00003900 BTC   0.00001202    MINING   -   Block #334016, Reward: 0.00003900
2014-12-12 22:36:36   -0.00001686 BTC   -0.00003163    MAINTENANCE   -   Shares 34816 , Cost: -0.00001686
2014-12-12 22:36:36    0.00001385 BTC   -0.00001477    MINING   -   Block #334008, Reward: 0.00001385
2014-12-12 22:06:25   -0.00002900 BTC   -0.00002862    MAINTENANCE   -   Shares 59904 , Cost: -0.00002900
2014-12-12 22:06:25    0.00000000 BTC   0.00000038    MINING   -   Block #334005, Reward: 0.00000000

[randy8777]

on the moment my ghs investment is not looking great with these fees, but i bought it just to test how cloudmining works. no intention to see decent returns.

[picolo]

I’m somewhat new to the cryptocoin market; I’ve only been mining and learning for a little under a month.  I’ve purchased hardware for both SHA and Scrypt, but I mostly mine BTC on GHASH.IO basically because of the frequency of their block discoveries.

My question is about the GHS service that CEX provides.  It appears that you can purchase 1 gh/s for approximately $2.00 USD, but you are charged a $0.18 fee per month per gh/s.  Both the purchase price and the fee seem high to me.

If I want to purchase a th/s, my upfront cost will be approximately $2,000.00 with an additional $180.00 a month in fees.  Right now I have a Bitmain S2 and I’m only paying approximately $50.00 in power and the unit was $1,799.00.  My current earning at this difficulty are approximately $13.00 a day, meaning that it takes about 4 days to pay for my electric.  If I were to purchase GHS, it would take me 14 days per month to pay my fees before I make money.

Are people purchasing GHS because they don’t know any better, or because it’s convenient?  I’m wondering if I’m just missing something?

Bryan

People are buying to mine a little bit then sell at the same price or higher so making a nice profit.

New cloudmining companies offer GHS at a very good price with low maintenance costs.