**CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App*** - page 119.

sipak

newbie

Activity: 28

Merit: 0

Quote from: CYPER on January 04, 2014, 11:39:07 PM

Quote from: acegilz on January 04, 2014, 11:30:20 PM

Quote from: CYPER on January 04, 2014, 10:33:05 PM

Quote from: sipak on January 04, 2014, 08:11:54 PM

Well, is quite sure that prices at cex.io are in real bubble:
I used mining calculator at http://mining.thegenesisblock.com/ with buying 100GHS at current price from cex.io for 4BTC (1GHS=0.04BTC), and I couldn't break even with higher monthly increase of difficulty than 32% per month, see http://mining.thegenesisblock.com/a/7908fc0daa
If used more appropriate increase in difficulty of 100% per month, I can break even after 6 months when I buy 100GHS for 2BTC (1GHS=0.02BTC) and after next 6 month the profit will be 0.04 BTC, see http://mining.thegenesisblock.com/a/2be83da502

I guess that market participants at cex. io dont use math. Any comments?

Fixed percentage difficulty increase month over month over month.
Maybe in 2020 the total surface area of Earth would not be enough for all the asic chips, needed to sustain that difficulty.

difficulty is adjusted and can decrease... what happens nowadays is that minining power keeps increasing so new difficulty is always higher. i believe it should break someday

People who use the Genesis block calculator do not realise that. They blindly believe that difficulty will increase to infinity by the same fixed monthly percentage.

Don't get me wrong, I know the difficulty will level at some point in the future. Thing is that if it won't level in 3-4 months, current prices for GHS are too high (they are great for operators to resell uneconomical hardware to suckers and speculators on suckers). And since we don't see deceleration on the side of hardware yet, it is wrong to suppose that the difficulty will adjust any time soon: new more powerfull and relatively cheaper products are announced already throughout the 2014.

What I expected in answer is somebody, who show me numbers: I bought GHS/BTC at this price and after 6 months I broke even (no referals counted) in terms of bitcoin and now I am getting positive cash flow only - you see it was real investment and I am not a sucker.

nuffsaid420

member

Activity: 86

Merit: 10

Quote from: CYPER on January 04, 2014, 06:44:00 PM

Quote from: psybits on January 04, 2014, 12:25:46 PM

Quote from: acegilz on January 03, 2014, 10:35:00 PM

i was looking my account an saw this

Quote

C A U T I O N:
If you lose access to your smartphone, or uninstall the app - you will not be able to login to your CEX.IO account.
BE SURE TO BACK UP YOUR 2FA CODE IN CASE YOU LOSE ACCESS TO YOUR SMARTPHONE OR THE APP.

How do i make a 2FA backup? no one knows when i could lose my iphone and that would be enought of bad luck.. :/

You can also generate back up 2FA codes from your Google account I believe.

Google Account has nothing to do with CEX.io, so you believe wrong.

You're missing the point. My 2FA program or app is Authy. Authy attaches each 2FA to an account, one of the options is my google account. I can backup my Authy App and it will restore when I get my new phone after I verify who I am. The one catch is that I think you have to have the same phone number(i could be wrong). ie after I bought my new phone I still had the same phone number so I just restored per the Authy apps directions. There may be other apps for 2FA

CYPER

hero member

Activity: 812

Merit: 502

Quote from: acegilz on January 04, 2014, 11:30:20 PM

Quote from: CYPER on January 04, 2014, 10:33:05 PM

Quote from: sipak on January 04, 2014, 08:11:54 PM

Well, is quite sure that prices at cex.io are in real bubble:
I used mining calculator at http://mining.thegenesisblock.com/ with buying 100GHS at current price from cex.io for 4BTC (1GHS=0.04BTC), and I couldn't break even with higher monthly increase of difficulty than 32% per month, see http://mining.thegenesisblock.com/a/7908fc0daa
If used more appropriate increase in difficulty of 100% per month, I can break even after 6 months when I buy 100GHS for 2BTC (1GHS=0.02BTC) and after next 6 month the profit will be 0.04 BTC, see http://mining.thegenesisblock.com/a/2be83da502

I guess that market participants at cex. io dont use math. Any comments?

Fixed percentage difficulty increase month over month over month.
Maybe in 2020 the total surface area of Earth would not be enough for all the asic chips, needed to sustain that difficulty.

difficulty is adjusted and can decrease... what happens nowadays is that minining power keeps increasing so new difficulty is always higher. i believe it should break someday

People who use the Genesis block calculator do not realise that. They blindly believe that difficulty will increase to infinity by the same fixed monthly percentage.

acegilz

full member

Activity: 211

Merit: 100

1ACEGiLZnZoG7KUNkMwAT8tBuJ6jsrwj5Q

Quote from: CYPER on January 04, 2014, 10:33:05 PM

Quote from: sipak on January 04, 2014, 08:11:54 PM

Well, is quite sure that prices at cex.io are in real bubble:
I used mining calculator at http://mining.thegenesisblock.com/ with buying 100GHS at current price from cex.io for 4BTC (1GHS=0.04BTC), and I couldn't break even with higher monthly increase of difficulty than 32% per month, see http://mining.thegenesisblock.com/a/7908fc0daa
If used more appropriate increase in difficulty of 100% per month, I can break even after 6 months when I buy 100GHS for 2BTC (1GHS=0.02BTC) and after next 6 month the profit will be 0.04 BTC, see http://mining.thegenesisblock.com/a/2be83da502

I guess that market participants at cex. io dont use math. Any comments?

Fixed percentage difficulty increase month over month over month.
Maybe in 2020 the total surface area of Earth would not be enough for all the asic chips, needed to sustain that difficulty.

difficulty is adjusted and can decrease... what happens nowadays is that minining power keeps increasing so new difficulty is always higher. i believe it should break someday

CYPER

hero member

Activity: 812

Merit: 502

Quote from: sipak on January 04, 2014, 08:11:54 PM

Well, is quite sure that prices at cex.io are in real bubble:
I used mining calculator at http://mining.thegenesisblock.com/ with buying 100GHS at current price from cex.io for 4BTC (1GHS=0.04BTC), and I couldn't break even with higher monthly increase of difficulty than 32% per month, see http://mining.thegenesisblock.com/a/7908fc0daa
If used more appropriate increase in difficulty of 100% per month, I can break even after 6 months when I buy 100GHS for 2BTC (1GHS=0.02BTC) and after next 6 month the profit will be 0.04 BTC, see http://mining.thegenesisblock.com/a/2be83da502

I guess that market participants at cex. io dont use math. Any comments?

Fixed percentage difficulty increase month over month over month.
Maybe in 2020 the total surface area of Earth would not be enough for all the asic chips, needed to sustain that difficulty.

sipak

newbie

Activity: 28

Merit: 0

Well, is quite sure that prices at cex.io are in real bubble:
I used mining calculator at http://mining.thegenesisblock.com/ with buying 100GHS at current price from cex.io for 4BTC (1GHS=0.04BTC), and I couldn't break even with higher monthly increase of difficulty than 32% per month, see http://mining.thegenesisblock.com/a/7908fc0daa
If used more appropriate increase in difficulty of 100% per month, I can break even after 6 months when I buy 100GHS for 2BTC (1GHS=0.02BTC) and after next 6 month the profit will be 0.04 BTC, see http://mining.thegenesisblock.com/a/2be83da502

I guess that market participants at cex. io dont use math. Any comments?

CYPER

hero member

Activity: 812

Merit: 502

Quote from: psybits on January 04, 2014, 12:25:46 PM

Quote from: acegilz on January 03, 2014, 10:35:00 PM

i was looking my account an saw this

Quote

C A U T I O N:
If you lose access to your smartphone, or uninstall the app - you will not be able to login to your CEX.IO account.
BE SURE TO BACK UP YOUR 2FA CODE IN CASE YOU LOSE ACCESS TO YOUR SMARTPHONE OR THE APP.

How do i make a 2FA backup? no one knows when i could lose my iphone and that would be enought of bad luck.. :/

You can also generate back up 2FA codes from your Google account I believe.

Google Account has nothing to do with CEX.io, so you believe wrong.

EFS

staff

Activity: 3976

Merit: 2260

Crypto Swap Exchange

Rounding Policy will be very good. Can someone summarize the differences of new TOS? I don't want to miss important changes.

psybits

legendary

Activity: 1386

Merit: 1000

Quote from: acegilz on January 03, 2014, 10:35:00 PM

i was looking my account an saw this

Quote

C A U T I O N:
If you lose access to your smartphone, or uninstall the app - you will not be able to login to your CEX.IO account.
BE SURE TO BACK UP YOUR 2FA CODE IN CASE YOU LOSE ACCESS TO YOUR SMARTPHONE OR THE APP.

How do i make a 2FA backup? no one knows when i could lose my iphone and that would be enought of bad luck.. :/

You can also generate back up 2FA codes from your Google account I believe.

nrdmtt

newbie

Activity: 17

Merit: 0

Code:

ROUNDING POLICY

For all financial calculations, CEX.IO uses a rounding policy which rounds to the 8th digit after the separator, [b]in the favour of the platform.[/b]



Example:

If you wish to buy 0.1 GHS per 0.0595678678 BTC

The amount of BTC you will be spending is 0.1 * 0.0595678678 = 0.0059567868 BTC

1) The system will take 0.0059567868 and multiply it by 108, making it 595678.68

2) Afterwards the system will pick the minimum integer larger than 595678.68, which is 595679

3) Hence, to buy 0.1 GHS - you will be spending 0.00595679 BTC



If you decide to sell 0.1 GHS per 0.0595678678 BTC

The amount of BTC you will be getting is 0.1 * 0.0595678678 = 0.0059567868 BTC

1) The system will take 0.0059567868 and multiply it by 108, making it 595678.68

2) Afterwards the system will pick the maximum integer smaller than 595678.68, which is 595678

3) Hence, to sell 0.1 GHS - you will be earning 0.00595678 BTC

finally....

skuser

sr. member

Activity: 291

Merit: 250

old TOS are here:
https://www.cex.io/terms

New here:
https://www.cex.io/tos

...edit: and they seem to be completely rewritten so for now I am giving up to analyze changes...

nrdmtt

newbie

Activity: 17

Merit: 0

Anyone has a copy of the old ToS?
Just to know what they have changed and why (hashfast related?)

leckey

sr. member

Activity: 434

Merit: 250

Quote

DUE DILIGENCE

Before the publication of the first demand you should send to us:

1) a valid government issued ID, acceptable high quality images of documents are: - international passport (double page) - national ID card (both sides) - driver's license (both sides)

2) a proof of residency, acceptable scanned images of paper documents are: - bank statement - utility bill for utilities consumed at your home address - tax return, council tax - certificate of residency issued by a government or a local government authority You can also submit other documents to serve as proof of residency such as; government-issued documents, judicial authority-issued documents, documents issued by a public agency / authority, utility service company, or similar regulated service providing companies.

"Before the publication of the first demand".... can I have that in English please?

Icon

hero member

Activity: 821

Merit: 503

could for a min remove 2fa and when you reapply it , print out that page and keep the barcode or what ever you call that thing so you can rescan it later on to get the # back into the new phone... that "should" work.

Icon

CYPER

hero member

Activity: 812

Merit: 502

Quote from: acegilz on January 03, 2014, 10:35:00 PM

i was looking my account an saw this

Quote

C A U T I O N:
If you lose access to your smartphone, or uninstall the app - you will not be able to login to your CEX.IO account.
BE SURE TO BACK UP YOUR 2FA CODE IN CASE YOU LOSE ACCESS TO YOUR SMARTPHONE OR THE APP.

How do i make a 2FA backup? no one knows when i could lose my iphone and that would be enought of bad luck.. :/

Write down the Private key on a piece of paper.

acegilz

full member

Activity: 211

Merit: 100

1ACEGiLZnZoG7KUNkMwAT8tBuJ6jsrwj5Q

i was looking my account an saw this

Quote

C A U T I O N:
If you lose access to your smartphone, or uninstall the app - you will not be able to login to your CEX.IO account.
BE SURE TO BACK UP YOUR 2FA CODE IN CASE YOU LOSE ACCESS TO YOUR SMARTPHONE OR THE APP.

How do i make a 2FA backup? no one knows when i could lose my iphone and that would be enought of bad luck.. :/

ajw7989

legendary

Activity: 924

Merit: 1000