cex.io and ghash.io are really well designed sites and services, no wonder they have majority of market
people are scared, thats fine by me
The risk is that they are so scared that bitcoin is at risk of losing its value proposition as a decentralized crypto currency and so loses its value relative to fiat currencies like the US dollar.
Unlike you I can't see the big advantage of cex and ghash, what is it about them that you find so appealing? There is obviously something there, is it just the ability to trade hashing power?
Good Luck!
Coming from experience, I think it's the ability to trade the hashes. You CAN make money off the trading rather than the mining.
I've got about 1.5 GH/s there, just for a side-income sort of thing, not super profitable without trading hashes, but it does make some BTC, even with the maintenance fee. Heck, the fee varies. Normally (At 1.5 GH/s) I get about 93 satoshis, 87 after the "fee".
Side note: It's like ".5"s are a magical number, cause the fees are the same as when I mined with 1 GH/s.
Anyways,
I also think people appreciate being able to pay $3 for a GH/s as opposed to $50 for 10 GH/s (You do the math), and sell that hash instantly without having to sell the entire piece of equipment.
BUT
I think that the statement that the fear "It's going to become centralized" is somewhat unjustified, I can only see that happening if a 51% attack occurred.
Speaking of a 51% attack, STOP TALKING ABOUT IT. The hash rate is FAR LOWER now. It's LESS THAN 38%. So PLEASE stop talking about it like it's still imminent and GHash.io is bordering on 50%.
It seems pretty fair that everyone is worried, but it needs to be checked instead of everyone sitting there and thinking it's at 49%.
TL;DR: People like cex.io and GHash because of 0% fees and ability to sell stuff.
