Topic: **CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App*** - page 121. (Read 422328 times)

We can only hope

soon you can trade ghs for food stamps

+1

o and add Dvc while you are at it

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To CEX.IO :

do you guys plan on enabling buying & selling of GHS for IxCoin (GHS/IXC)

I still don't see how so many, even when presented with contrary evidence, will invest in something with negative expectation.

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Human nature... Greed!
We want Ghashs... the more the better! Now, the illuminated ones (CEX), will take advantage of it...

Wrong. You must factor in the price of GHS after the 100 days. The value of your GHS will have fallen more than the number of Bitcoins you mined.

Have a look at the graphs above.

I still don't see how so many, even when presented with contrary evidence, will invest in something with negative expectation.

I think it is probably because so many Bitcoin advocates have yet to learn maths at school.

Lol!!!
Hummm! Sorry about that!

Errr. You will lose all your Bitcoins?

okay.  The way it looks to me.

I entered in the numbers on the bitcoin x calculator.   break even 100 days, I have some experience mining, and this is not bad.

just worried about how safe my money will be.  and will I be able to transfer it out without haveing to scan documents like at mt. gox?

I was using coinbase as well as armory with an offline computer.  I felt pretty safe. made some good roi on bitcoin price change alone.

i dont understand why there are so many people crying about cex.io.

Of course it is a risky business and you should invest with care and keep informed because the price of ghs can highly variate, but what is the problem about that?

HI,
Please 1 question, 1 have a CeX.IO adress if I mining on,
What is the way to acess to my bitcoin adress and use my Bitcoin???

Here are my charts from October 1st.

The first is the dollar price of GHS and the average price since October 1st to give a smooth line. Sort of like a moving average only it is stationary against October 1st.

https://lh4.googleusercontent.com/-kBcrNvZ2kAM/Ur6sBzIGXlI/AAAAAAAACpQ/OYRDShLLR2M/s776/graph1.jpg

The second chart is GHS in Bitcoin. I have also put in a fair price line derived from the average price in the previous chart.

https://lh5.googleusercontent.com/-F5ekJ_RuYZg/Ur6sB3HvqUI/AAAAAAAACpM/w8TBbLasMsg/s775/graph2.jpg

As the Status Quo song goes... "Down Down. Deeper and Down."

It doesn't matter if the price corrects itself down to a more realistic price, the price will continue to fall. So there is no reason to enter the market. If you think you are going to trade short-term increases then think again because there is no way of predicting the next correction.

The price fall doesn't exactly correlate to the increase in difficulty because this market doesn't contain rational agents.

Who would play the stockmarket if they knew that the index was going to zero with no option to short the market? Nobody, of course. And yet this market is full of buyers. That is not rational. In most cases they got their Bitcoins for nothing and they are playing at being stock traders. Same as a poker game with free chips, you don't play rationally. CEX.IO knows that and is hoovering up all their chips.

You can`t lose "400%" unless you have to start paying them to hold GHash. If you invested 1 BTC the max loss is 1 BTC which is 100%.

PS:
I`m really no tech guy etc., but even I know the "dirty little secret" of diminishing price per GHash due to difficulty.

I hope cex pays attention to the dirty little secret of continuous plummeting of ghs price over the last five months or so. They are going to face angry shareholders. Once the dirty little secret becomes common knowledge, where are they going to find fresh new buyers? Who's going to buy into new ghs when everyone knows that they will LOSE their precious bitcoins? They need to do something, compensate the current holders.

I think it's more like 400% drop since July 2013 to today. Almost 50% drop every month. At this rate, cex members are going to lose all their holdings sometime next year. Better get out while you can still get 0.04 btc per ghs. By end of January 2014, it's going drop to 0.02 or less. Now, that will attract new buyers.

Yes my line "this is not the case in this market" was invoked from my own past experience watching this market. Maybe I should of added "always" into that line.
The price of GH/s  should correlate with the current bitcoin  difficulty. However this is not ALWAYS the case in the CEX.IO GHS commodity market.

Actually now that we are on the topic of the price point of hashing power compared to how long it will take to get your ROI, it doesnt seem to correlate with any market. The ebay market. Block erupter saphires are still selling for 40-50$ a pop. the forum market place. Same thing, ROI will be seen in a very long time (IN SOME GROUP BUYS NOT ALL). I havent check BTC-OTC in some time but last time i did stuff was still overpriced.

It was also in response to the discussion that "GH/s prices will and have to go down" because difficulty adjustments. when i first started playing with CEX. I sold my entire stash of GHS right before a difficulty readjustment. It sounds like sound logic right? Well the next morning I wake up and the price increased over 33% and hung there for weeks. 75% of my posts in this thread and other unofficial cex threads are pretty much me commenting on how ridiculous the prices are.

There is really no response to your potato analogy, other then this is free market and marketing. Why does starbucks coffee sell for $5 on average when a gas station coffee sells for $1.30. Well starbucks puts it in a fancy cup and gives you a drive thru to purchase it and has massive marketing campaigns. Well the coffee in the gas station probaly came from the same farm processed the same way but sells for more then half. Free market, smart marketing & buyers demand to have the starbucks experience. There we go, CEX.IO is the starbucks of  getting into Bitcoin mining. Lots of advertising, fast, easy, looks good, feels good when you instantly see your hashing at 60 GH/s, low competion but your going to pay. the ones that are at fault are then ones that are not doing research and/or investing more then they can loose. I hope that i am making sense to you all. What i should really do is go back and post quotes and links to the past discussions on this. it really has been beat into the ground.

I myself do not have a degree in finances but it sure does get complicated when you take USD convert it to BTC so you have this price to worry about. And then you said that BTC and hobby invest it into whatever you want to invest, weather its GHS, Alt-coin or a security. And then you have to keep track of 3  different markets and realize that because the price of your alt coin or GHS "goes down" because the value of BTC to your fiat has gone up so your not at lost.reminds me of back in the day on litecoinglobal. LTC skyrocketed and suddenly  the prices of the security dropped as well but still had the same value. crypto as a means of hobby investing is not for the weak hearted i guess one could say.especially when its not cashing out directly from BTC to fiat. back to the potato analogy, its a hot potato game. just make sure your not holding the hot potato to long whenever those big holders decide to take profit.

Im running out of time, but what lies are you talking about? Forum posts? Their FAQ? The fact that you can only see a months worth a market data isnt a lie. perhaps it works in their benifit but its not a lie. Im starting to sense a bit of fudster's in these post.


Could someone that is making use of the API post a google  spread sheet of the past 3 month prices. appreciate your work searching the thread for prices but this is an incomplete picture. Is this spot price on that day. Average price etc etc. And a 50% drop in price over 3 months is not surprising at all. How much has the difficultly risen in 3 months when its been increasing at approxmiately 17% - -22% everytime?

I ran out of time, i cant even proofread this but thanks for reading.

On a side note, how about the Litecoin market they added. Pretty awesome if you ask me both for the CEX.IO exchange and also for Litecoin. Hey CEX.IO ive been reading alot of chat about IXCoin coming up, you should add IXC/BTC exchange

This is what can be expected. Difficulty doubles every month, halfing the production capacity of each mining GH/s, making the CEX.IO price to cut in half every month. It's directly proportional as it should be.

in one months chart its fallen 50% 3 months chart is a scary thing

tries to look for price back ago and seems like someone doing good job at hiding information...

so that lead me to deeper searching and here are cex prices:

Jul 24, 2013 - 0.90
Sep 29, 2013 - 0.22
Oct 07, 2013 - 0.21
Oct 20, 2013 - 0.15
Nov 04, 2013 - 0.12
Dec 05, 2013 - 0.07
Dec 27, 2013 - 0.04

these prices i found in forum posts so it might not be correct, wish the official information was available but apparently someone is very good at hiding data.

I see CEX.IO have dropped the 3-month chart option. We wouldn't want investors/gamblers getting heart attacks.

At this rate CEX.IO will drop the 1-month chart too.

I have been charting CEX.IO since October 1st. It doesn't look good. Think lemmings and cliffs.

And now a post from your local CEX.IO affiliate...

Th
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