**CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App*** - page 104.

BitChrisUK

newbie

Activity: 58

Merit: 0

Quote from: semik on March 14, 2014, 04:11:34 PM

Quote from: CEX on March 14, 2014, 08:02:20 AM

GHash.IO prevents 51% accumulation of the Litecoin hashing power

We do our best to be a trustworthy pool and are not willing to destroy any cryptocurrency. Our actions coincide respectively.

Thank you for understanding!

http://s29.postimg.org/smw60uut3/awards.png

We have made contract: I start mine at your pool and you will provide me with with double reward for ONE week period.

You simply can't change rules when deal is running. If you want to prevent 51%, you should simple not accept any new hashpower.

You are buch of liars!

Of course they can change the rules, did you pay them or sign a contract?

Why would their be a fine print? There is no contract!

CEX are giving away free LTC, celebrate it and stop crying about it

semik

newbie

Activity: 22

Merit: 0

Quote from: CEX on March 14, 2014, 08:02:20 AM

GHash.IO prevents 51% accumulation of the Litecoin hashing power

We do our best to be a trustworthy pool and are not willing to destroy any cryptocurrency. Our actions coincide respectively.

Thank you for understanding!

http://s29.postimg.org/smw60uut3/awards.png

We have made contract: I start mine at your pool and you will provide me with with double reward for ONE week period.

You simply can't change rules when deal is running. If you want to prevent 51%, you should simple not accept any new hashpower.

You are buch of liars!

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

Quote from: btcboom on March 14, 2014, 04:03:12 PM

Pool speed is now below 25Gh/s and the website still states: Current multiplier: x1.25.

Maybe they'll update when the current shift ends.

So it's a game of chicken now. If you stay you'll get a chance at 2x rewards. But if too many stay nobody will get it... wonderful :-)

C892

newbie

Activity: 23

Merit: 0

Just limit user ghash power. There are still pools inside!

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

Quote from: Micky25 on March 14, 2014, 03:45:30 PM

I don't think they had bad intentions with this, they were just overwhelmed with the echo. If I do the math right, 25GH still cost them 5328.17 LTC / Day

You don't really have to be a marketing genius to understand the appeal of free cash. The kind of math you are mentioning could and should have been done BEFORE they came up with the promotion.

Quote from: BitChrisUK on March 14, 2014, 03:50:52 PM

Also, regarding there legal status, what have they done wrong? Changed the terms on a promotional offer?

Yeah, what could possibly be wrong with that :-)

I was looking yesterday for any fine print on this offer couldn't find anything. If there were any details, such as "as long as promotional funds last" or something like that, it wouldn't have been as bad. Now it's just ...

Quote from: Number6 on March 14, 2014, 03:52:34 PM

Bait and Switch

btcboom

newbie

Activity: 38

Merit: 0

Pool speed is now below 25Gh/s and the website still states: Current multiplier: x1.25.

Number6

sr. member

Activity: 490

Merit: 254

Quote from: BitChrisUK on March 14, 2014, 03:50:52 PM

Just to be clear, are people disinterested in a 51% attack?

Shouldn't they have some obligation to prevent such an occurrence?

Also, regarding there legal status, what have they done wrong? Changed the terms on a promotional offer?

Why point to Bit mining? That's like cutting your nose off to.....
And we all know that bit-mining are robbing gits

What people are upset about is that it just so happens their solution also benefits them financially. They could limit sign-ups, limit the max number of hash per user by not paying out above a threshold, etc. to help avoid a 51% situation and still keep the promised 2x reward. No, they counted on a lot of people coming over all along and never intended to pay a 2x reward out over a week long period.

Number6

sr. member

Activity: 490

Merit: 254

Quote from: Micky25 on March 14, 2014, 03:45:30 PM

I don't think they had bad intentions with this, they were just overwhelmed with the echo. If I do the math right, 25GH still cost them 5328.17 LTC / Day

Don't kid yourself. They knew full well offering 2x LTC for a week would bring in droves of people once word got out. As you point out in your math, it would be unsustainable to go a full week with this many miners looking for double rewards.

Also, as someone else pointed out, the reward thresholds have been lowered since the original announcement. Classic Bait and Switch tactic.

BitChrisUK

newbie

Activity: 58

Merit: 0

Just to be clear, are people disinterested in a 51% attack?

Shouldn't they have some obligation to prevent such an occurrence?

Also, regarding there legal status, what have they done wrong? Changed the terms on a promotional offer?

Why point to Bit mining? That's like cutting your nose off to.....
And we all know that bit-mining are robbing gits

Micky25

legendary

Activity: 974

Merit: 1000

I don't think they had bad intentions with this, they were just overwhelmed with the echo. If I do the math right, 25GH still cost them 5328.17 LTC / Day

GreenBits

legendary

Activity: 1148

Merit: 1048

Quote from: btcboom on March 14, 2014, 03:20:50 PM

Is it even legal to announce such kind of promotions on a website get a lot of clients with it and suddenly change the rules because you can't keep your promises?

I'm wondering about this; but I wont act on it, too much hassle.

Well, im about to point my rented 50mhs at bit-mining.co. It isn't 1.25x payouts, but CEX can keep that. They have lost a loyal customer until they provide some clarification on this. Not trying to shit on the service, they have been solid in the past, but this is a bit much for me. They stated a week; they had to know people would plan around this official statement and I feel they knew beforehand that they would be lowering the reward. I can only really blame myself, its a small matter as far as my finances are concerned, but this is very frustrating. Lesson learned; if a deal sound too good to be true; dammit they were right, it probably is.

ozzy1926

sr. member

Activity: 378

Merit: 250

Quote from: btcboom on March 14, 2014, 03:20:50 PM

Is it even legal to announce such kind of promotions on a website get a lot of clients with it and suddenly change the rules because you can't keep your promises?

bitcoin is currency of blackmarket and nothing is illegal when it comes to virtual currency...

btcboom

newbie

Activity: 38

Merit: 0

Is it even legal to announce such kind of promotions on a website get a lot of clients with it and suddenly change the rules because you can't keep your promises?

Brentnauer

newbie

Activity: 1

Merit: 0

Quote from: Micky25 on March 14, 2014, 03:01:19 PM

in the meantime it seems, that it is now culture to lie and change rules during the game in the world of crypto-currency.

Looks like they changed the 0 - 40 cap for 2x to 0 - 25.

Ghetto.

If you can't live up to your claims, don't make them. They had to know they'd get a huge influx of Mhash and that this would happen. Poor form.

Micky25

legendary

Activity: 974

Merit: 1000

in the meantime it seems, that it is now culture to lie and change rules during the game in the world of crypto-currencies.

ozzy1926

sr. member

Activity: 378

Merit: 250

Quote from: GreenBits on March 14, 2014, 01:39:00 PM

Quote from: Amgclk65 on March 14, 2014, 01:32:55 PM

How do I change difficulty setting for my workers ?

Go to the workers tab in ghash (click on workers near the top left of the page), you can change the zero field at the end of each worker's list entry

what should be the difficulty set to?

Cooba13

newbie

Activity: 36

Merit: 0

Thanks, totaly missed that

byt411

hero member

Activity: 798

Merit: 1000

That is rubbish. At least make a 1-day announcement beforehand.

Flep182

legendary

Activity: 938

Merit: 1007

From a commercial point of view I see why they can't keep up with double since the market just kept traffic under 40 Gh/s. But this isn't really good from a trust point. Some people said they had bought contracts, I for once will soon be traveling, had I moved all my hashes to ghash and found out an hour after leaving they had changed the proposition I'd also feel quite screwed.

boomertoo

member

Activity: 392

Merit: 10

Quote from: ajw7989 on March 14, 2014, 02:10:13 PM

hm price of gh on cex is dropping getting to a more realistic rate just wondering when is a decent price to buy.

The only way to make money with GHS is to buy low and sell higher wash rinse repeat.
Thats what I do and it works for me so what I mean to say is there is no good price to buy value
unless its under the cost of antminers.
So I can only recommend buying panic selling and selling after the bloodbath dead cat bounce.
Be carefull though, the liquidity is thin for any sizable trades and a market order can move the market a good bit.

Topic: **CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App*** - page 104. (Read 422328 times)

Topic: CEX.IO Bitcoin Exchange Buy Bitcoins with Cards in iOS / Android App*** - page 104. (Read 422328 times)