Topic: CEX.io GHS Bubble ? (Read 11371 times)

Hello Rammy. As you may remember Cex.IO stopped their cloud mining operations on January and they stated they would focus on the exchange part of the service. Since then, the volume of BTC<-->USD have decreased, and the picture of the current situation is what I showed in the other post: the Market Deepth graph you can see in their webpage. A sane exchange have equilibrated demand and offer, or in terms of that graph, both halves should be similar (as it was some months ago in cex.io). But right now they have 10 times more offer of BTC than demand. In other words: if right now all the BTC owners would want to sell them, they would receive less than $35 on average. This may indicate that bitcoin buyers have lost the trust in the exchange, in the BTC or in both.

I am a user of Cex and I wouldn’t like to see them disappear (yesterday I exchanged $50, p.e.). But they are facing several problems these days that may compromise their business:

-   Cloud mining is interrupted
-   GHash.IO pool is losing its slice of the pie of the hashrate (less fees due to miners exchanging)
-   The exchange is reducing its volume (less fees they can charge)

Is it more clear to you now? I took my time yesterday to make the image I posted and I’m taking my time to answer you. Do you really think I am posting to increase my rate? And please, save to yourself stuff as calling me clown.

Happy mining, trading or wathever you do

Yes, they stopped cloud mining for now, but these clowns dont know what they are talking about.

I thought they ceized their operation or whater or paused it.

But I guess not, but yeah the prices I see you have better options like spoondoolies partner up with their cloud mining buddy genesis mining. You can also pay by creditcard so if something happens you can actually have better recourse then most.

Why are u posting these kinda crap ? What cloud mining ?
What are you talking about ?
Oh ... u just posted to raise your post count ... didnt you ?

Your post is full of stupidity, i do trading on cex and everything is just fine.

glad this thread got a bump...I had $5 in BTC that I had forgotten when I cashed out all my ghs last year.

True, I was going to buy some myself, but they declined my card

Not only the cloud mining is bad. What is concerning is the BTC trading... there is no people buying Bitcoins!!:




In other words: there are potentially 13900USD available to buy 409BTC. This is $34 per Bitcoin...

Cex.IO is ill, and frankly I don't desire them to disappear, I like that exchange. But I think they can't survive this way much longer

N-n-n-necro!

Yeah, sorry to bring this back up, but just to prove you all right... http://cex.io/trade
Yep. You're right. Death to cex, and let's just all move on.

So many people lost money on Cex.io and not too many made money; you can make money with the referral system or if you got lucky and bought before the price went up then sold and didn't buy back

I don't think that time ever existed.  CEX.IO was the first and has only been in business about 1 year.  Last year at this time were were having 20-30% jumps with these new things called ASICs brought to the table.  The jumps have slowed down if anything.

It was profitable for some time when difficulty wasn't this high and didn't increase that fast. It was a very long time ago and it is no longer profitable was the difficulty rises faster than before.

Cloud mining never been profitable right?

Getting closer to that 0.002BTC/GH/s, its on 0.0034 right now
https://bitcoinwisdom.com/markets/cexio/ghsbtc

It is a game of hot potato.  Anybody holding right now is hoping for a 5 or 10% increase so they can get out (assuming they're not delusional and thinking they can profit).  The ones selling are willing to cut their loses.  It's a game of chicken on a race to the exit - those left holding at the end will be crying.

You have new people signing up everyday and buying new shares + reinvested profit which push the price higher but not enough to have a stable price or to even make money

For the price to increase, you need higher demands. Since most people already know that they will never make ROI there, the price is likely to decrease since not much people would want to buy there. The difficulty is going to skyrocket soon, making ROI even worst than no profits.

If you are lucky you sell higher than you bought but it is what I said : luck

I find that cex.io is really not profitable at all. By the time you actually make a visible profit, the price will have fluctuated. The price of GHS almost makes its own mining irrelevant because you will either lose or gain a lot more money by trading the GHS in the market.

Unless they make their maintenance costs lower, Ghs prices will continue to drop since it won't be profitable to hold them any more.