Quote from: tempestb on April 30, 2014, 04:15:59 AM

Quote from: brian_23452 on April 29, 2014, 10:16:51 PM

Nevermind, I think I see why people buy these things, they don't get basic math. According to the calculator YOU linked to, 1gh/s purchased at 0.0056btc will never return 0.0056btc. Ever. I do see where you made your mistake, if you run the calculator starting in April it will eventually return more than 0.0056btc. But of course April is already over. Starting now, since pgmining doesn't seem to offer a time machine on their website, you can expect to get around 0.004 btc back by August.
Regarding your second point, you keep saying that if the price of btc goes up it makes this a profitable move. It doesn't. Obviously the dollar value of the btc you get back would go up in value, but then so does the dollar value of the cost you paid. One last time, paying 0.0056btc now to get 0.004btc later is not a good deal! And makes no difference what the btc is worth in dollars. But Im a very generous person. If you think it is such a good deal, I promise to give you 0.004btc in august for every 0.0056btc you give me now. Any reputable escrow service you wish to use.

You're not zeroing out the electrical costs, the accessory costs and the like. You pay none of that. You have to measure with the current difficulty vs what you're buying. It profits. Learn how to use the mining calculator. It's funny that you think you're smarter than all the miners. We must all be idiots right?

I explained the math on how mining makes more than holding, but you're not getting it. If you buy a Bitcoin and it becomes $4,000 in value. Great. Now, if I buy a miner for the same price that you bought the Bitcoin at. The only reason the miner ever stops making money is if the cost of electricity is higher than what it earns. If the value of Bitcoin reaches $4,000 then the miner WILL EARN MORE BITCOINS THEN I PAID FOR IT.

You say no, but that is incorrect. It's simple math.

I zeroed out all costs except the price of the hash. Here it is: https://tradeblock.com/mining/a/975f84599c
Notice if you change the value of bitcoin it does not change your bring even date (which is never)
Why do you keep bringing up miners? We aren't talking about purchasing miners. We're talking about purchasing a hashing contract.
And to answer your question, no I don't think you're all idiots. I think the only ones are idiots are the ones purchasing a contract that is clearly going to pay out less then the contract. On the contrary I think any miner who can sell their hashing power for more btc then it will ever create is a genius.