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Topic: CEX.io Halts Cloud Mining Service Due to Low Bitcoin Price - page 3. (Read 2726 times)

sr. member
Activity: 406
Merit: 250
If bitcoin price keep falling down
Another cloud mining will halts their services too

I wonder if bitcoin difficult will down this week ?

Possible but not likely.  The chinese have tens of millions into dedicated supercomputing farms that I doubt they'll stop their operations just because of dropped price.  Then again, I could be wrong.
sr. member
Activity: 252
Merit: 251
Knowledge its everything
If bitcoin price keep falling down
Another cloud mining will halts their services too

I wonder if bitcoin difficult will down this week ?
member
Activity: 79
Merit: 10
mining its a risk from the beginning, now with the coins at 270 usd we lost money.

I want to see what is the next step from all the companys squeeze the asics to break the sustability


Cex first one, Knc miner Second and Bitmain 3rd




The coins are at $240 now not $270!!!
legendary
Activity: 924
Merit: 1002
Will be interested to check decrease of total Hash in the network. It`s must be visible.
sr. member
Activity: 406
Merit: 250
It depends on the price of electricity. CEX.io's electricity is too high and machines are too old, hence lower efficiency. Bitmain might not have that problem. Their latest machines have efficiency of 0.5J/GH.
sr. member
Activity: 289
Merit: 250
mining its a risk from the beginning, now with the coins at 270 usd we lost money.

I want to see what is the next step from all the companys squeeze the asics to break the sustability


Cex first one, Knc miner Second and Bitmain 3rd


legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
you could take that risk, yes.  Grin
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
So what happens with the people owning Gh's now?

You loose your investment? ^frown^ or are they going to buy up all the remaining GH's at a reduced price? ^Grin^
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
Quote
Bitcoin mining service CEX.io has announced it will suspend its cloud mining activities.

The company stated in a 12th January blog post that it is no longer profitable, blaming declining revenues amid a dropping bitcoin price. CEX chief information officer Jeffrey Smith told CoinDesk that operations would resume if the price of bitcoin climbs above $320, calling the move “temporary”.

The suspension comes after CEX customers experienced disruptions to their cloud mining service, which the company at the time attributed to third-party complications. Smith said that the two issues are unrelated; that the economic impact of a drop in bitcoin prices cut into its ability to offer its clients profitable mining services.

Indications from CEX’s forums suggest that customers were informed over the weekend about both the risk of unprofitability as well as stipulations in the customer terms of service related to potential stoppages. On Friday, a CEX spokesperson cited the former when asked about reported customer compensation issues.

more here...  http://www.coindesk.com/cex-io-halts-cloud-mining-service-due-low-bitcoin-price/
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