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People don't get what's a GH/S at CEX.IO : it is something that loose 50 % of its value every 15 days
As opposed to a $2.5k USD machine that never sees ROI and will have a HORRID resale value come, say, February?1 GH/s at cex.io will also never see a positive ROI and will have a HORRID resale value in February, probably somewhere around 0.005 BTC, if you are lucky.
I came to CEX with some 0.94863546 BTC spange, and am leaving with 1.29863546 BTC.
That is a 31.1489% profit, or "R-O-*******-I."
I have been using the site since the evening of the 22nd. It is roughly the same time now, but today is the 1st. That is 10 days. That's 3.1% return every day, which is way more than what I see using a tuned EMA trader. I did not just "get lucky," I used my head, and made BTC. With very little BTC.
I'm not even aggressively day trading, considering it is an exchange with 0.00000% transaction fee.
But you people seem a little thick to the idea so I'm just going to stop talking about it now.
Good evening all,
nynexx
I've done the math repeatedly... It's not about up front costs, it's about price per Gh/S and how profitable said Gh/S are.
Mobile got it right with the idea of renting Gh/S or trading for them over at cex.io.
At time of writing, CEX.io (the service mentioned above) is 0.1045 BTC/Gh/S. ... This option would not break even in under 30 days (I like tight schedules!), except you have the option to trade Gh/S back for BTC, so your initial investment is "refundable," depending on Gh/S to BTC market rates. You can also continually buy in to further Gh/S with your earnings, compounding your income.
That said, when we're looking at bigger hardware, anything that costs less than ~$6.50/$7.00 USD will break even in 30 days or less at current BTC/USD market rates. However, looking at being "paid back" in USD or other fiat shouldn't be important - the BTC should be.
Mobile got it right with the idea of renting Gh/S or trading for them over at cex.io.
At time of writing, CEX.io (the service mentioned above) is 0.1045 BTC/Gh/S. ... This option would not break even in under 30 days (I like tight schedules!), except you have the option to trade Gh/S back for BTC, so your initial investment is "refundable," depending on Gh/S to BTC market rates. You can also continually buy in to further Gh/S with your earnings, compounding your income.
That said, when we're looking at bigger hardware, anything that costs less than ~$6.50/$7.00 USD will break even in 30 days or less at current BTC/USD market rates. However, looking at being "paid back" in USD or other fiat shouldn't be important - the BTC should be.
So, if you do the math correctly, you will see that 1 GH/s will never earn 0.1 BTC, so paying 0.1 BTC for 1 GH/s is a money loser. On the other hand, like you said, 0.03 - 0.04 BTC ($6.50/$7.00) per GH/s will probably earn a decent profit, and I agree that calculating the return in BTC is necessary, and the return in dollars is irrelevant.
People don't get what's a GH/S at CEX.IO : it is something that loose 50 % of its value every 15 days
As opposed to a $2.5k USD machine that never sees ROI and will have a HORRID resale value come, say, February?"At least with CEX I can pull out."
qwertyqwerty I have been using Mac OS since 1994... Worked tech support in private Apple Authorized store for 11 years (pre-Apple retail), have consulted for private companies utilizing OSX and have often interfaced and done work for Apple itself. I do not work for the silly Apple Retail, I am very sorry if this is a strict need for you. I'm a little past a "mall job."
Reach out if you need.
Reach out if you need.
Not worth it unless the price is lower and can ROI....
Again, it's an exchange. It's super fluid, and the price definitely varies. I've seen it as low as 0.040 and as high as 0.125 BTC per Gh/S. Hell, I've dumped all my Gh/S into BTC twice and have in no way lost money on the investment. Oh, and ROI? I have every 0.0001 BTC back + mining profits + trading profits. Yeah, lost a lot of money on that one 
So long story short: Buy in and sit on CEX shares? Probably a loss. Trade, like a good member of a commodity exchange should? You'll head out on top. If you're smart.
Cheers, fellows.
Don't you think BTC is already overvalued? I bet on LTC in the near future!
lol NO. LTC is a fickle mistress... I remember when it was $4/LTC and everyone was convinced it'd go to $10 and stay there.Yeah, it's rallied lately, but NOTHING like in the past. It's basically a great coin to trade for BTC.
Don't you think BTC is already overvalued? I bet on LTC in the near future!
Nope, Bitcoin is the only usefull cryptocurrency. But good luck with your LTC
ltc is another good coin. You will see with time ...
I myself have ordered a large machine with a friend (less than 1Th/S but not small) and estimates show it should "pay itself back" within 30 days. The machine is $6.50 USD per Gh/S. Even if BTC falls to $100 and we assume a ridiculously high profitability decline of 0.1 or even 0.04 (unrealistic by the worst math), the machine pays itself back and turns a profit in a 90-day period. However, we are not looking to recoup USD, as we are looking for a set amount of BTC to break "even." Much of this BTC will go into EMA trading and Gh/S rental for continuing compounded income, hashing speed, and holdings.
Pretty sure you've found yourself the holy grail there. Remember a guy who didn't something similar...
What machine was that to guarantee that sort of return with a rising difficulty?
You know, I'm hoping so. Every estimate says we will make some sort of profit in a 5-month window, but I might be eating my words in 5 months when we have a set investment evaluation.
Re: It's stupid that newbies must make 5 posts and browse for 4 hours. Here's why
Meh, generally speaking I support these kind of newbie-restricting rules. But now I'm in a bit of a hurry to be able to post in a groupbuy thread in this forum and am slightly irritated, but I'll get over it :p.
Whatcha group-buyin'
If ya don't mind me being nosy. Feel free to say f-off!Time for more tea! 3 hours left!
Hi Tyleraddiction,
I would point you to my post in a thread in this subforum called "Mining extinct?"
https://bitcointalk.org/index.php?topic=320150.msg3431232#msg3431232
Mining is not super profitable alone, no. I used to mine with a laptop (!!!) in 2010 and 2011. Then a few of them, then a PC. Unless you are mining scrypt coins, GPU-based mining is not profitable (even then with 600 Mhash/S from a $300 video card, you're not going to make your money back). I would recommend the idea of renting, buying, or trading a hashrate with someone who has more computer than you
I use cex.io, but there's also places like hashrack.com (expensive and not immeditate mining). This way, your cost (electricity, hardware, repairs) is minimal, and instead you focus on how much BTC you make per day per Gh/S (BTC/Day/Gh/S... there should be a name for that).
So that's my 0.0002 BTC!
I would point you to my post in a thread in this subforum called "Mining extinct?"
https://bitcointalk.org/index.php?topic=320150.msg3431232#msg3431232
Mining is not super profitable alone, no. I used to mine with a laptop (!!!) in 2010 and 2011. Then a few of them, then a PC. Unless you are mining scrypt coins, GPU-based mining is not profitable (even then with 600 Mhash/S from a $300 video card, you're not going to make your money back). I would recommend the idea of renting, buying, or trading a hashrate with someone who has more computer than you
I use cex.io, but there's also places like hashrack.com (expensive and not immeditate mining). This way, your cost (electricity, hardware, repairs) is minimal, and instead you focus on how much BTC you make per day per Gh/S (BTC/Day/Gh/S... there should be a name for that).So that's my 0.0002 BTC!
Might as well relax, make money, and chit-chat while we wait.I've done the math repeatedly... It's not about up front costs, it's about price per Gh/S and how profitable said Gh/S are.
Mobile got it right with the idea of renting Gh/S or trading for them over at cex.io.
Even with an investment of .35 BTC, you can make 0.01 BTC/day. That was my first "trial" there and it was worth it. I'd invite you to check it out as well, because while I am "plugging it"... It's free to sign up and absolutely worth having Gh/S in your portfolio (they pay you!)
https://cex.io/r/0/neuros/0/
At time of writing, CEX.io (the service mentioned above) is 0.1045 BTC/Gh/S. This equates to about ~20 USD at current market rates. This option would not break even in under 30 days (I like tight schedules!), except you have the option to trade Gh/S back for BTC, so your initial investment is "refundable," depending on Gh/S to BTC market rates. You can also continually buy in to further Gh/S with your earnings, compounding your income.
That said, when we're looking at bigger hardware, anything that costs less than ~$6.50/$7.00 USD will break even in 30 days or less at current BTC/USD market rates. However, looking at being "paid back" in USD or other fiat shouldn't be important - the BTC should be.
I myself have ordered a large machine with a friend (less than 1Th/S but not small) and estimates show it should "pay itself back" within 30 days. The machine is $6.50 USD per Gh/S. Even if BTC falls to $100 and we assume a ridiculously high profitability decline of 0.1 or even 0.04 (unrealistic by the worst math), the machine pays itself back and turns a profit in a 90-day period. However, we are not looking to recoup USD, as we are looking for a set amount of BTC to break "even." Much of this BTC will go into EMA trading and Gh/S rental for continuing compounded income, hashing speed, and holdings.
Oh, I didn't even say hello, how rude.... Hello BitcoinTalk
Mobile got it right with the idea of renting Gh/S or trading for them over at cex.io.
Even with an investment of .35 BTC, you can make 0.01 BTC/day. That was my first "trial" there and it was worth it. I'd invite you to check it out as well, because while I am "plugging it"... It's free to sign up and absolutely worth having Gh/S in your portfolio (they pay you!)
https://cex.io/r/0/neuros/0/
At time of writing, CEX.io (the service mentioned above) is 0.1045 BTC/Gh/S. This equates to about ~20 USD at current market rates. This option would not break even in under 30 days (I like tight schedules!), except you have the option to trade Gh/S back for BTC, so your initial investment is "refundable," depending on Gh/S to BTC market rates. You can also continually buy in to further Gh/S with your earnings, compounding your income.
That said, when we're looking at bigger hardware, anything that costs less than ~$6.50/$7.00 USD will break even in 30 days or less at current BTC/USD market rates. However, looking at being "paid back" in USD or other fiat shouldn't be important - the BTC should be.
I myself have ordered a large machine with a friend (less than 1Th/S but not small) and estimates show it should "pay itself back" within 30 days. The machine is $6.50 USD per Gh/S. Even if BTC falls to $100 and we assume a ridiculously high profitability decline of 0.1 or even 0.04 (unrealistic by the worst math), the machine pays itself back and turns a profit in a 90-day period. However, we are not looking to recoup USD, as we are looking for a set amount of BTC to break "even." Much of this BTC will go into EMA trading and Gh/S rental for continuing compounded income, hashing speed, and holdings.
Oh, I didn't even say hello, how rude.... Hello BitcoinTalk