Just sharing this from other thread
Lets look at this historical data I got from cex.io thread
I dont use cex.io so I cannot say if it is profitable or not but lets do a simple math using the data above.
Say you got 10ghs on 5th Nov 2013 at 0.10710000btc/ghs totalling 1.071btc.
You let it mine for a month with difficulty 510929738 and got 0.2953btc. I assumed the difficulty does not change so the amount will be less than this.
Then on 5th Dec 2013 you sold your 10ghs at 0.07399962 totalling 0.7399962btc/ghs.
Your profit will be .7399962 + 0.2953 - 1.071 = -0.0357038btc.
I picked the date at random and data for difficulty I got from http://bitcoinwisdom.com/bitcoin/difficulty
It does not look like a good investment to me. You could increase your btc holdings by daytrading but I wouldnt call daytrading an investment.
Decide for yourself whether it is worth risking your hard earned bitcoin and bitcoin network security
Thanks JayBee66 for the historical data.
Do people actually make money at cex.io? If so, hard to argue against market forces. If not, what the heck are people doing???
Lets look at this historical data I got from cex.io thread
These are the closing prices from October 1st to December 27th. Others may fill in the gaps.
1-Oct 0.23000000
2-Oct 0.23849000
3-Oct 0.23000000
4-Oct 0.23510000
5-Oct 0.22400000
6-Oct 0.21000000
7-Oct 0.21790000
8-Oct 0.21730000
9-Oct 0.21700000
10-Oct 0.19120000
11-Oct 0.18990000
12-Oct 0.18478000
13-Oct 0.18180000
14-Oct 0.18270000
15-Oct 0.14250000
16-Oct 0.13399900
17-Oct 0.13998000
18-Oct 0.14039900
19-Oct 0.14131000
20-Oct 0.13890000
21-Oct 0.13180000
22-Oct 0.12200000
23-Oct 0.09500000
24-Oct 0.08266000
25-Oct 0.09090900
26-Oct 0.09750000
27-Oct 0.09980000
28-Oct 0.10427500
29-Oct 0.10410000
30-Oct 0.10600000
31-Oct 0.10748900
1-Nov 0.10760900
2-Nov 0.11046900
3-Nov 0.11999900
4-Nov 0.10050000
5-Nov 0.10710000
6-Nov 0.11411900
7-Nov 0.10517900
8-Nov 0.10189900
9-Nov 0.09445000
10-Nov 0.09638000
11-Nov 0.09582600
12-Nov 0.09110000
13-Nov 0.09099900
14-Nov 0.08100000
15-Nov 0.07920000
16-Nov 0.07990000
17-Nov 0.08097900
18-Nov 0.08074000
19-Nov 0.07866000
20-Nov 0.08402000
21-Nov 0.08205000
22-Nov 0.08199900
23-Nov 0.08400000
24-Nov 0.08499900
25-Nov 0.08661100
26-Nov 0.07974000
27-Nov 0.07680800
28-Nov 0.06767000
29-Nov 0.06599900
30-Nov 0.06879500
1-Dec 0.07150400
2-Dec 0.07128873
3-Dec 0.07210000
4-Dec 0.07308999
5-Dec 0.07399962
6-Dec 0.07986940
7-Dec 0.07699900
8-Dec 0.07555444
9-Dec 0.07237200
10-Dec 0.06949988
11-Dec 0.07118001
12-Dec 0.07389989
13-Dec 0.07397213
14-Dec 0.07346848
15-Dec 0.07189998
16-Dec 0.07257734
17-Dec 0.07232347
18-Dec 0.07187850
19-Dec 0.06999992
20-Dec 0.06769040
21-Dec 0.06861000
22-Dec 0.06795171
23-Dec 0.06239999
24-Dec 0.05619993
25-Dec 0.05664157
26-Dec 0.05127993
27-Dec 0.04988691
1-Oct 0.23000000
2-Oct 0.23849000
3-Oct 0.23000000
4-Oct 0.23510000
5-Oct 0.22400000
6-Oct 0.21000000
7-Oct 0.21790000
8-Oct 0.21730000
9-Oct 0.21700000
10-Oct 0.19120000
11-Oct 0.18990000
12-Oct 0.18478000
13-Oct 0.18180000
14-Oct 0.18270000
15-Oct 0.14250000
16-Oct 0.13399900
17-Oct 0.13998000
18-Oct 0.14039900
19-Oct 0.14131000
20-Oct 0.13890000
21-Oct 0.13180000
22-Oct 0.12200000
23-Oct 0.09500000
24-Oct 0.08266000
25-Oct 0.09090900
26-Oct 0.09750000
27-Oct 0.09980000
28-Oct 0.10427500
29-Oct 0.10410000
30-Oct 0.10600000
31-Oct 0.10748900
1-Nov 0.10760900
2-Nov 0.11046900
3-Nov 0.11999900
4-Nov 0.10050000
5-Nov 0.10710000
6-Nov 0.11411900
7-Nov 0.10517900
8-Nov 0.10189900
9-Nov 0.09445000
10-Nov 0.09638000
11-Nov 0.09582600
12-Nov 0.09110000
13-Nov 0.09099900
14-Nov 0.08100000
15-Nov 0.07920000
16-Nov 0.07990000
17-Nov 0.08097900
18-Nov 0.08074000
19-Nov 0.07866000
20-Nov 0.08402000
21-Nov 0.08205000
22-Nov 0.08199900
23-Nov 0.08400000
24-Nov 0.08499900
25-Nov 0.08661100
26-Nov 0.07974000
27-Nov 0.07680800
28-Nov 0.06767000
29-Nov 0.06599900
30-Nov 0.06879500
1-Dec 0.07150400
2-Dec 0.07128873
3-Dec 0.07210000
4-Dec 0.07308999
5-Dec 0.07399962
6-Dec 0.07986940
7-Dec 0.07699900
8-Dec 0.07555444
9-Dec 0.07237200
10-Dec 0.06949988
11-Dec 0.07118001
12-Dec 0.07389989
13-Dec 0.07397213
14-Dec 0.07346848
15-Dec 0.07189998
16-Dec 0.07257734
17-Dec 0.07232347
18-Dec 0.07187850
19-Dec 0.06999992
20-Dec 0.06769040
21-Dec 0.06861000
22-Dec 0.06795171
23-Dec 0.06239999
24-Dec 0.05619993
25-Dec 0.05664157
26-Dec 0.05127993
27-Dec 0.04988691
I dont use cex.io so I cannot say if it is profitable or not but lets do a simple math using the data above.
Say you got 10ghs on 5th Nov 2013 at 0.10710000btc/ghs totalling 1.071btc.
You let it mine for a month with difficulty 510929738 and got 0.2953btc. I assumed the difficulty does not change so the amount will be less than this.
Then on 5th Dec 2013 you sold your 10ghs at 0.07399962 totalling 0.7399962btc/ghs.
Your profit will be .7399962 + 0.2953 - 1.071 = -0.0357038btc.
I picked the date at random and data for difficulty I got from http://bitcoinwisdom.com/bitcoin/difficulty
It does not look like a good investment to me. You could increase your btc holdings by daytrading but I wouldnt call daytrading an investment.
Decide for yourself whether it is worth risking your hard earned bitcoin and bitcoin network security
Thanks JayBee66 for the historical data.