Post
Topic
Board Mining
Re: cex.io VS bit-mining.io
by
FalconFly
on 05/02/2014, 22:37:00 UTC
I would like to spend 1BTC in GHS and I've noticed that on bit-mining the Ghs/BTC rate is 0.025 instead of 0.034 of CEX. I'm oriented on bit-mining due the lower price... Am i wrong?

What should i care about? Fees? Difficulty rate?

Any help will be greatly appreciated  Smiley

Don't know what to say... You got 1 BTC means : you're already there ! Keep them.

Joining cex.io or other questionable cloud miners for the purpose of mining will leave you with less BTC than you already got within a few months and is therefor completely unreasonable.
If about 1 BTC is your investment size - DON'T MINE. You'll have some fun doing it but the price will be : losing a part of your money in the process.

If you have the equivalent of 1 BTC in cash, buy BTC directly.
There isn't any point in mining anymore, unless you get a really really lucky deal somewhere (unlikely, all the sweetest deals are either scams or end up with negative ROI after careful caluclations and aren't as sexy as they appear) - or invest thousands of $$$ in latest next-gen preorder hardware and hope they deliver promised performance on time and that it never fails.

I know it's much less fun but the only reasonable thing to do if you want to prevent losses and all associated risks of mining.
Serious mining today is for the people who can afford a couple of KNC rigs or alike and actually get their hands on them (which is a problem all by itself, so even the xxxxx$ hardware buyers are often taking big risks, forums are full of burned folks who ran into unfortunate delivery delays etc.)

If you absoultely WANT to mine, take only a small fraction and buy i.e. a small USB miner (Antminer U1, BiFury, TwinFury) so you can get into the satisfaction of mining but minimize the losses for operating hardware that can never ROI right from the start.
The only guys making big money usually are the hardware manufacturers and resellers, they're the ones "selling expensive shovels to the gold diggers" basically.