I dont understand the reason to buy this (and others like it).
I can can get 2 TH right now on CEX.io for that price can't I? Is my math wrong:
1.2 TH unit (1.6 TH in turbo which probably draws more power) = 8499.
So:
8499/$500 = 16.998 BTC
Current CEX.io price of .0085/gh so: 16.998/.0085 = 1999 GH
And if you use pbmining: 16.998/.0056 = 3035 GH..
It just doesnt make sense to me. Am i missing something?
And if i am not.. Here is a link to where you can get 3 TH immediately for the price of the 1.2 TH unit:
http://pbmining.com?ref=robocoderDisclaimer, this is my referral URL - please use if i just gave you a way to get more than twice the hashpower with no preorder. All my money goes to ARF anyway..
CEX.io? Really... have we not all agreed to not use that as it consolidates way too much hashing power in a single groups hands?
The real issue is CEX.IO, not GHash.IO! (self.Bitcoin)
After researching the issue further I've come to the conclusion that it is not actually GHash.IO that is the real issue.
True, unlike most other pools, GHash.IO only publishes 250KB blocks (at most). This demonstrates either short sighted selfishness or simply an ignorant attitude to the recent increase in network transactions and the occasional "traffic jams" caused by that.
The real issue in terms of the 51% problem is CEX.IO. In their fresh from the oven statement (
https://ghash.io/ghashio_press_release.pdf) they claim that one of the solutions is to allow users of CEX.IO to point the datacenter mining power to another pool.
That does not help with the problem. Either CEX.IO operators or an attacking hijacker can theoretically take control of the datacenter hashing power and point it anywhere.
The pool (GHash.IO) is not the issue nor are individual miners. All of that is irrelevant. In case of foul play it is trivial for individual miners to start pointing their miners to other pools. The centralized hashing power in the hands of CEX.IO is another story, and that is the real issue.
Long term the most realistic solution is that CEX.IO gets competition. More cloud mining services, more datacenters. Short term I think that people should not invest in mining through CEX.IO.