Topic: **CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App*** - page 145. (Read 422328 times)

4% isn't that high.
It's still cheaper than keeping a miner at home + CEX.IO compensates all your downtime in case of any issues.

We don't make any money from the fee, we just cover expenses.
 

Ouch 4%, I was hoping for 1-2%

Oh well, maybe we can get a 30% correction today again. 

If you want sell, sell now...

The price soon will be corrected...

Lot of sellers VS buyers
The market Depth is a precious info

Hey CEX.IO users,
Today, we had a hardware failure at our main backend server, which was beyond our control. We are going to replace the faulty DIMM memory module, which may take up to 5-10 minutes planned downtime to ensure that it will not happen again. However, all mining power will be compensated.

We apologize for the inconvenience.

Below is the official statement about the maintenance fee:
The fee will be implemented in 1 week, which makes it November 8th 2013.

The maintenance fee is estimated as $0.30 / kW*hour:
$0.17/kW electricity cost + $0.09 data centre upkeep + $0.04 hardware repair/maintenance.

(The power consumption of 1 GHS is 1.5W per hour)

The fee will be billed in BTC per mining share. The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit.

The fee will be adjusted according to the BTC/USD exchange rate.

About the hardware maintenance:
We will charge $0.09 for the data centre upkeep + $0.04 for hardware repair/maintenance.

Handling 600+ kW mining equipment is quite challenging. This involves MANY people working at the backend, who:
Replace dead chips
Fix PCB issues
Upgrade electricity links
Improve mining software to reduce stale shares (we have stopped delivering stale shares for purchased GHS).


In case of any questions or issues - feel free to contact the support team, via [email protected]

We will be glad to help.

CEX.IO will keep you informed about all the future updates as soon as they come.
Thank you for being with us.

Best Regards,
CEX.IO Team

@Furball,
If you hvae 2 shareholders in the GHash.IO - the payout should work both ways.
I'll check your account. Please open a support ticket for account specific issues.

Thanks

I'm interested to know how the "shareholders" feature works in Ghash.io. I have set up two parties to receive payments, both adding up to 100%...I can see payments into my Cex account but not the other..how does that work?

Thanks in advance.

F.

thanks CEX - can you tell us if fees will be implemented sometime today?

Hey guys,
Sorry for the server downtime. We had to fix a couple things ASAP.
All hash rates were compensated. Check the graph at GHash.IO.

With only 2 weeks of trading data available (volume prior to that was too low to factor) it seems like the market is somewhat btc/usd agnostic and moves nicely with the difficulty change dates.  Starts moving about 4 days prior (Oct 12 for 16 and 22 for 26 - the shift always begins @ almost exactly 00:00 zulu) and then it drifts back up.  Next one is in 4-5 days, so I would have been very interested to see what happened today in a vacuum [without fee changes.]

I postulated this might be the case long ago, so I am interpreting the data to satisfy my prejudices.

Just placed an order; nothing has changed.

At the moment, site faq & trading page still reflect 0 fees

from faq:
"Is there a pool fee?
No, the pool fee is 0% However, we have NMC merged mining to cover pool expenses.
How much is the maintenance fee? When will it be implemented?
We are planning to implement the maintenance fee starting from November 1st. The amount is still being decided, the approximate cost will be $0.001 per GHS / hour."

Probably safe to bet there'll be some downtime today while they make adjustments.

Are they charging a fee?  Can someone who's trading let the rest of us know.

Bah, I know what you mean in the gratification of watching those mining rewards trickle though, not far from the gratification while your mining off your own farm. Then I happen to browse past the photo sliders of the miner racks in the data center and I get a warm fuzzy feeling. By the way where is the GHash.IO data center located?
Local watering hole? Its not a bad idea. Im sure that the customs have not changed that much from last year. At least you could preach the choir and educate someone on Bitcoin. ie: the bar owner and why he should be accepting BTC worst case scenario he dismisses you & you deny a last call lay because suddenly this cloud flare fall back goes away.

As far as cloudflare goes, we all know it could be one of two things: 1)A minor glitch caused by something trivial like a miscommunicating database script 2) "Haters gonna Hate" aka ddos. Actually ddos is my first thought. Some troll is getting impatient and wants to drop the price. I say harness this energy for good and build a trading bot not a ddos attack....troll.

**disclaimer: the above possibilities are all speculation

Are your doing manual trades? After a couple years working MtGox & the Stock exchanges (btct.co) manually. It was cex.io that sent me over the edge in my own personal journey to learn more Java, python etc etc & more about workingswith JSON-RPC & API's with the end goal to build a trading bot coupled with a competent trade algorithm. In all reality,Bitcoin as a whole has sent me to the edges of making adjustments to my career /degree path towards a full blown computer science major. I need more math.

**edit fixed some grammar and punctuation. There is probably more errors. Zzzz

We're back online @.1074

checking my balances and rewards - all are present and accounted for during downtime.

Hahahaha funny that it pulled out as addictive to you. Sometimes nature has its way of letting us rest. Goodnight traders. 

oh well...

I guess I have to go to bed then...

trading is getting addictive...

GULP!!  going on about a half hour + down at this point.   Not to say that I've been obsessively refreshing the site every 15 seconds for the last week or anything - which is strange b/c I know that my bottom line margin will be negligible at best - yet i cannot stop buying GHS for the sake of novelty and those sweet little mining reward notifications piling up on the right...probably the most gratifying experience in btc life to date. At this point I may actually have to step away from the monitor and go to the local watering hole to see what costumed gratuity the ladies are pulling out this year.  

I guess so....


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is CEX.IO down?

I cannot LOGIN

Charging transaction fees based on the transaction amount would be a better alternative, as you said, it (definitely) will drive people away who want to use the service for mining. With the projected difficulty raises, trading let alone mining won't net profit for anyone other than CEX.io (which I'm sure they have no problem with that ) but then that kind of kills off their revenue at the same time, since people would stop using the service.

I was crazy excited when I discovered Cex.io, but with the introduction of the fees and the higher prices...I'm not so excited.  With the new miners coming into play, $0.001/per GHS/per hour will get very expensive as difficulty rises.  If the new standard (by January) is each person has a THs miner...then the cost per day to maintain these fees will rise exponentially while the relative mining profit is the same... i.e. you might require a 500 GH to make 0.1 bitcoin a day...then we're looking at crazy high fees without the return...there's something wrong with this fee structure. 

To fix this, they should instead charge a low transaction fee to reduce trading and profiteering.  Charging the "miners" will just chase the miners away.  Dealing with a commodity that constanly decreases in value...this is not a good idea. 

If the cost to mine at home with a cointerra @ 1000 GHS is $30 month (depending on your electricity rate -more/less)...the same cost by mining on CEX.io is...wait for it... $.001/GHS/Hour*GHS*Hour*30days = .001*1000*24*30 = $720 a month...hahaah... with diminishing profits....this model is broken before it comes into play. 

We might as well just start buying cointerra miners... this formula doesn't work.  Someone at CEX...should quickly take note, before all investors leave.  Can someone double check my math???
I'd rather be wrong...so I can keep mining with CEX.io =)

Anyone want to pool some money with me and get a 2THs?