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Showing 11 of 11 results by SuniX
I think you get lucky with those prices, cloud is not profitable.
It was a trade with the cloud returns a small bonus, it wasn't an investment in cloud mining. It shows what is possible from trading a product that essentially has an ongoing 'yield' given to you as you hold it, thus you can profit or loss from a trade plus profit or loss from the 'yield' (mining returns).
To get any decent returns from mining you need to be doing it a long time, not 5 days like my trade. Mining now is a tough endeavor for sure.
The holder of GHS in CEX is therefore expected to day trade their holding by second guessing market moves, which is unlikely. Anyone professing to have profited from cloud mining on CEX.IO is either a liar, or extremely lucky (mean reversion will soon sort them out) or a CEX.IO shill.
Man, you are just lucky, and if you continue reversion will soon begin.
Man, you are just lucky, and if you continue reversion will soon begin.
When I trade I have a reason to enter a plan to exit at a certain profit level or at a certain loss level, that should be how everyone does their trading. I do not buy and 'hodl'
dear OP,
don't fall into the fallacy that because you had a couple profitable trades you now think you have 'figured out' trading and you can do this full time.
even monkeys throwing darts at the wall street journal often beat the so called professionals at picking winning trades. this does not imply in any way you are a monkey, just stating facts.
don't fall into the fallacy that because you had a couple profitable trades you now think you have 'figured out' trading and you can do this full time.
even monkeys throwing darts at the wall street journal often beat the so called professionals at picking winning trades. this does not imply in any way you are a monkey, just stating facts.
Oh, thanks for your concern, I think.
I haven't said anywhere I am now a full time trader nor do I want to be, just sharing a particular activity relative to trading and cloud mining.
https://dl.dropboxusercontent.com/u/54432554/Monkeydart.PNG
if i buy 100 GH from CEX, how and when get profit
Your profit opportunity is in the buying and selling of the asset itself. The mining rewards are a small token flow relative to the price you pay. Trade it, don't buy sit back and think profit will arrive.
Automated trading / bots can be useful for certain trading styles. This website has many pre-made bots or you can customize your own. They have API support for leading exchanges including CEX.IO https://cryptotrader.org/
Are you still trading GHS or was it a one off thing?
Thanks for the link, I had seen it before but never looked in detail, will now though. Yes am still trading not just GHS though, mostly BTC/US, bought some Doge on CEX
Why not look into alternate cloud mining offerings, that are much cheaper GH and maintenance wise? 
Not that keen on cloud at the moment, mining returns are just getting smaller and smaller.
If you can combine trading with mining rewards like on CEX with their GHS, then that can be profitable. I did an exercise and noted the outcomes in this thread https://bitcointalk.org/index.php?topic=805526.0
They way I currently view it is the mining rewards are a small part of the overall reward, the buying and selling of GHS providing the main potential profit. It works for me, might not be for everyone. The days of just buying a cloud contract and sitting back watching the BTC roll in to ROI are gone (if they ever were there in the first place).
They way I currently view it is the mining rewards are a small part of the overall reward, the buying and selling of GHS providing the main potential profit. It works for me, might not be for everyone. The days of just buying a cloud contract and sitting back watching the BTC roll in to ROI are gone (if they ever were there in the first place).
I think the trading is also heavily "Bott'ed" too.
I push a low price, and almost immediately a new bid is entered with only a fraction lower than my entry, so they kinda wall you off.
But it's not unique to CEX, it happens with almost every exchange now.
I push a low price, and almost immediately a new bid is entered with only a fraction lower than my entry, so they kinda wall you off.
But it's not unique to CEX, it happens with almost every exchange now.
Never used bots myself have you? I know you can get 'off the shelf' bots or create your own, wondering if its worth investigating?
i only trade there now, i completly ignore the mining, its too dog shit to even care about. but i do pay attention to the maintence fee, that greatly effects trading. i rather made wait patient to make a good trade a day, than buy and hold the hashes. its too dangerous ,u just dont know when the dump is coming. u will make more on that one trade than one day of mining.
Agree. In my example the mining reward is a bit of cream on top of the trade outcome.
You got lucky, wait until those rewards are countered with CEX.io HUGE maintenance fees on cloud, there are times your reward is negative due to the fees being bigger than the rewards. Make sure you look very very closely at your rewards before you do statistics like this, I bet your table will reflect a whole new set of numbers once you check your balance against your rewards minus the fees. I promise you if you recheck the balances you did not make 1.4% you probably lost 30% on the mining being thier fees are 62% for maintenance. minus the trade fees you are looking at a nice loss of 22% haha. If I were you Id look at the finer things you left out in this message like the trade fees and the maintenance fees.
FYI I have been mining there a log time so no use trying to bullshit me. Cex.io/Ghash.io are the biggest scammers in the world of pools.
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Hi cyberpinoy,
Seems like you have an unresolved issue with CEX (based on your aggressive tone). You should take that issue up with them not me.
My figures were already taking into account maintenance, so your comments and 'promise' and 'if I were you' are totally incorrect. In fact based on your comments I re-analysed the numbers to make sure I hadn't made a huge error and the results are slightly different as I came across the odd mistake:-
Trade Profit 0.07668 +20.7% (as before)
Gross Mining Rewards 0.01244808
Maintenance -0.0074975
Net Mining Rewards 0.00495063 +1.34% (down from 1.4%)
Lots of good threads now on mining issues and cloud mining issues in particular. I don't see buying a fixed cloud contract where you can't get your original investment back (either by withdrawal of the contract or having a trading market for it) makes any sense at all. The cloud providers are addressing this by many new entrants starting to offer tradeable contracts (competition to the CEX model).
This week I bought GHS on CEX. The price had just fallen a lot and history shows it then has a bounce back and stability period, plus they announced cloud maintenance reduction. So I held for a few days then sold once I had reached my profit target being 20%. I detail the outcome I saw from the trade and mining rewards whilst I held the contracts:
25/9: Bought 180GHS at 0.00206 = 0.3708 BTC
30/9: Sold 180GHS at 0.002486 = 0.4478 BTC
Trade Profit 0.07668 BTC +20.7% (of initial amount)
Mining Rewards 0.005139 +1.4% (of initial amount)
So in 5 days the trade itself made a 20.7% return and the mined rewards added 1.4%. Thus total return being 22%. (If I'd continued to hold my return today would be more like 37%, oh well..)
On the CEX mining rewards you can see the overall return was positive, what I noted was that the real long blocks 2 hours or so were not, but they were compensated for by the low maintenance cost on the more frequent short time frame blocks. 40 or so blocks were being found each day approx. I see lots of people complain about maintenance fee's, my experience was a good one. Heck even if I had made no profit on the trade itself but can walk away with 1.4% gain from the mining alone in 5 days, that's a great outcome.
So don't buy a fixed cloud contract unless it is tradeable or initial investment can be withdrawn.
I also bought some Doge, still holding that to the moon.....
This week I bought GHS on CEX. The price had just fallen a lot and history shows it then has a bounce back and stability period, plus they announced cloud maintenance reduction. So I held for a few days then sold once I had reached my profit target being 20%. I detail the outcome I saw from the trade and mining rewards whilst I held the contracts:
25/9: Bought 180GHS at 0.00206 = 0.3708 BTC
30/9: Sold 180GHS at 0.002486 = 0.4478 BTC
Trade Profit 0.07668 BTC +20.7% (of initial amount)
Mining Rewards 0.005139 +1.4% (of initial amount)
So in 5 days the trade itself made a 20.7% return and the mined rewards added 1.4%. Thus total return being 22%. (If I'd continued to hold my return today would be more like 37%, oh well..)
On the CEX mining rewards you can see the overall return was positive, what I noted was that the real long blocks 2 hours or so were not, but they were compensated for by the low maintenance cost on the more frequent short time frame blocks. 40 or so blocks were being found each day approx. I see lots of people complain about maintenance fee's, my experience was a good one. Heck even if I had made no profit on the trade itself but can walk away with 1.4% gain from the mining alone in 5 days, that's a great outcome.
So don't buy a fixed cloud contract unless it is tradeable or initial investment can be withdrawn.
I also bought some Doge, still holding that to the moon.....