I Need Mining Advice

[bloggersjoy]

Hello Everyone,

I am planning to start bitcoin mining and regarding this I have talked to customer support in CEX.io. CEX.io told me that I should start with 16 GHS at least. Does anyone has any idea that how much can I earn per day and per month with 16GHS in CEX.io?

I have money in my Neteller account so is there any way I can transfer money from my Neteller to CEX.io and buy GHS and if there is no way then please suggest how can I use my Neteller money to buy GHS. Please suggest.

Thank You

[sgk]

Put your hash rates in following calculator and calculate your earnings:
https://alloscomp.com/bitcoin/calculator

From my personal view, 16 GH/s is nothing if you're serious about mining.

[notlist3d]

I would do some ROI calculations.  Cex never has met my criteria on profit for me.

[finlof]

Hello Everyone,

I am planning to start bitcoin mining and regarding this I have talked to customer support in CEX.io. CEX.io told me that I should start with 16 GHS at least. Does anyone has any idea that how much can I earn per day and per month with 16GHS in CEX.io?

I have money in my Neteller account so is there any way I can transfer money from my Neteller to CEX.io and buy GHS and if there is no way then please suggest how can I use my Neteller money to buy GHS. Please suggest.

Thank You

my advice is to not get into mining expecting to come off with more money than you put in cause it likely will not happen (unless you are able to buy at good prices, mine for 1 - 4 weeks, and sell the unit for a net gain when counting bitcoin mined minus elec/hosting cost).  i would not recommend buy any cloudhashing at all cause it is a losing scenario.

[DrG]

Given the current rate of maintenance fees on Cex.io you might actually lose money at times (during bad luck) even if you find a block.

Read this : https://bitcointalk.org/index.php?topic=739510.msg8355686#msg8355686

If you find a company that you find to be reputable and you can make a profit from or just want to dabble a little for enjoyment purposes go ahead.

[FlyForFun]

Given the current rate of maintenance fees on Cex.io you might actually lose money at times (during bad luck) even if you find a block.

Read this : https://bitcointalk.org/index.php?topic=739510.msg8355686#msg8355686

If you find a company that you find to be reputable and you can make a profit from or just want to dabble a little for enjoyment purposes go ahead.

Cex.io has been reducing its maintenance fees, I believe when the difficulty is increased up to a point that would make loses, then they would reduce it again.

[ChuckBuck]

No miner at the moment will get you ROI, you will operate in the RED for the miner's and your lifetime.  And the worse thing you can do is start cloud mining.  At least you can resell hardware miners for a decent price after you're done with them.

If you just want to start mining to say you're mining and be one of the cool guys, to learn about mining as a hobby for education and fun, while generating some BTC for yourself, and don't care if you break even or not, get one of these:

https://www.bitmaintech.com/productDetail.htm?pid=00020140813125800214NBU85kWt0672

The Antminer S3+ is MOQ of 2 currently direct from Bitmain, so get just 1 of them from a reseller or from someone in this forum in the Goods/Computer Hardware section(use escrow).

Whatever you do, don't go cloud, they're all Ponzi schemes.  Only good thing with CEX.io instead of traditional Cloud mining ponzi, it's a trading platform.  But not everyone is built to trade constantly just to come close to recouping losses, nevermind breaking even.