Author

Topic: CEX.IO mining vs maintenance - whats going on - advice required (Read 2051 times)

legendary
Activity: 1512
Merit: 1057
SpacePirate.io
if hashnest is out there for cloud mining how come some are stuck with cex? if they are getting raped by the maintenance fee.

it just tells me people dont bother to do enough homework eh lol. esp when i see people joining pbmining as well..

I think because Cex has a large community trust factor for proving out early on that they were actually mining and they've been around for awhile. pbmining had somewhat of a cult following, gaw has a similar customer base. The profit is low with cex, but it's viewed as a safe investment. People are looking at hashnet in greater numbers now, but some of the feedback I've been seeing is that it's too complicated to complete a buy transaction.

I'd love to see cex adjust/scale the maintenance fee to make it more realistic. You would think they are paying union wages to people to hand-crank the asic miners.
sr. member
Activity: 252
Merit: 250
if hashnest is out there for cloud mining how come some are stuck with cex? if they are getting raped by the maintenance fee.

it just tells me people dont bother to do enough homework eh lol. esp when i see people joining pbmining as well..

legendary
Activity: 1512
Merit: 1057
SpacePirate.io
Hashnest has a better maintenance fee compared to cex.io for sure. I'm not sure why the maintenance fee from cex.io is so extreme, it's very expense unfortunately. Luckily, there are other options on the marketplace.
sr. member
Activity: 434
Merit: 250
my advice is look at hashnest, i just recently found their thread and it seems they are better since they dont squeeze you with the maintenance fee.
full member
Activity: 186
Merit: 106
They should shutdown that Ghs/BTC right now. That pair is so sh** making you lose money.
sr. member
Activity: 322
Merit: 250
hero member
Activity: 1022
Merit: 500
They scammed my 10 btc+ . Be careful

Can you tell us how?

Thanks picolo, I see you have a referral link to clouminr.io on your sig. I am currently using this site, do you believe they are legit?

I am taking part in their signature campaign.

Sounds interesting Smiley

Excuse my ignorance, but how do I find out about / get involved in the signature deal?

You will find their signature campaign here : https://bitcointalksearch.org/topic/closed-signature-campaign-854072 It is close for new participants.

You will find other campaigns here : https://bitcointalk.org/index.php?topic=615953.2120;topicseen
sr. member
Activity: 321
Merit: 250
They scammed my 10 btc+ . Be careful
legendary
Activity: 980
Merit: 1040
Excuse my ignorance, but how do I find out about / get involved in the signature deal?

Here is how it works:  before being able to participate, you must first spam the forum for a few months, ideally with many accounts, posting preferably nonsense and contributing absolutely nothing,  just  increasing your post count, thereby rendering this forum even more useless than it already is.

Once you obtained a meaningless seniority level, you can sell your integrity for a few satoshi (that you may or may not receive); in return for that you promote an illegal scam that will probably cause hundreds of people to lose their money. And which btw, technically could make you complicit in the crime.
sr. member
Activity: 322
Merit: 250
Thanks picolo, I see you have a referral link to clouminr.io on your sig. I am currently using this site, do you believe they are legit?

I am taking part in their signature campaign.

Sounds interesting Smiley

Excuse my ignorance, but how do I find out about / get involved in the signature deal?
legendary
Activity: 980
Merit: 1040
CEX.IO and GHASH/IUO are the largest scammers in the world of pooled mining.

No they are not. In fact they are among the most trustworthy operators. To my knowledge, cex.io has complied perfectly with their contract, which is clearly defined and they have disclosed most the information I need from a company to be assured the contracts are backed by actual hashrate and will be complied with. If anything they gave you more than they promised as IIRC, they lowered maintenance fees not so long ago. They were under no obligation to do so.

Being honest and complying with a contract however, is a very different thing from being profitable. Their contracts trade on a open market and for a long time traded for insanely high prices. Everyone with a clue would have told you that.  But you can not blame the operator for those prices, they do not set them. You did. Nor can you blame cex.io for the inevitable and widely predicted collapse of that price.  THat they currently pay out next to no dividend was completely predictable and predicted and a logical consequence of increased difficulty.  

Here is the truth: selling mining hardware can be quite lucrative, but overall mining simply isnt. It cant be, its a zero sum game. Any company that offers you a mining contract that appears lucrative is most likely scamming you, or you are not reading the contract properly or you dont understand how mining works.

BTW,  yes, clouminr.io is definitely a scam. Looks lucrative until they run with your money in the next few weeks. Check my signature for more info.
hero member
Activity: 1022
Merit: 500
Thanks picolo, I see you have a referral link to clouminr.io on your sig. I am currently using this site, do you believe they are legit?

I am taking part in their signature campaign. I am not giving any review of cloud mining sites because I am not an expert, I actually don't know much about it  Grin

Their signature deal is great and they are very nice to do business with in terms of the signature deal but you should do your own study and only invest responsibly.
sr. member
Activity: 322
Merit: 250
Thanks picolo, I see you have a referral link to clouminr.io on your sig. I am currently using this site, do you believe they are legit?
hero member
Activity: 1022
Merit: 500
So, if these sites are ponzi, but don't disappear for a good while, I could still make ROI?

Yes, but you shouldn't invest in a business if you know it is a ponzi!

Invest in some legitimate business instead.
sr. member
Activity: 322
Merit: 250
So, if these sites are ponzi, but don't disappear for a good while, I could still make ROI?
sr. member
Activity: 322
Merit: 250
Anyone else using these sites?

A few other people who didn't bother to do any research before investing in a ponzi that's pretty much identical to PB mining. People, do some research or you'll just end up like a PB victim.


Arrrgh, its such a minefield out there!  Undecided
legendary
Activity: 1386
Merit: 1016
You could try scrypt, scrypt-N, X11 cloud mining, ROI is quick and 2 months! Such as LTCgear is quite hot lately!
legendary
Activity: 826
Merit: 1004
Anyone else using these sites?

A few other people who didn't bother to do any research before investing in a ponzi that's pretty much identical to PB mining. People, do some research or you'll just end up like a PB victim.
sr. member
Activity: 322
Merit: 250
I can't believe CEX.IO are still operating on such a massive scale, surely people should be getting wise to them now.

Probably ok for trading purposes but cloud mining service has got to be the worst out there

I have sold up, cut my losses and found a few better sites out there now, which seem to give out regular payments with no ridiculous maintenance fees:

Bitcoin cloud services  - https://www.bitcoincloudservices.com/?ref=3281

Hash Profit - https://hashprofit.com/en/registration/?hp=82228

Clouminr.io - https://cloudminr.io/?r=GTCRa1

All of the above sites seem promising to me and might even see a ROI eventually if things continue the way the are going currently.  Smiley

Got to make sure to take advantage of any offers / promo codes / and take into account the free weeks mining you get with Hash profit and Cloudminr.io

Anyone else using these sites?

hero member
Activity: 1022
Merit: 500
IF the difficult really raise up
You should sell all your GHS now, before GHs price falling down  Sad

And i think it's a risky choice to move to another cloud mining because the ROI is a bit too long & too many ponzi cloud mining now  Sad

I don't think the ROI is too long : https://bitcoinwisdom.com/bitcoin/difficulty but you have to be careful who you invest with.

i thought its been that way forever lol.

esp in the cloud mining biz, its like 7 different level of fees or reasons to cut your actual return. And all you are left with is pretty much nothing, then ask what the hell happened.

cex.io is rising fees as their maintenance costs are rising but maybe they are milking the cows too
member
Activity: 92
Merit: 10
i thought its been that way forever lol.

esp in the cloud mining biz, its like 7 different level of fees or reasons to cut your actual return. And all you are left with is pretty much nothing, then ask what the hell happened.
hero member
Activity: 1022
Merit: 500
after reading this comment posted online - " Fees are now 90% , and in the next difficulty rise which will expected as 20% rise, fees are also increase that amount, 0.90*1.20= 108% fees , that means,if you hold GHS, you have to PAY!, yes you have to pay for every block solved. Then CEX.IO ,term of use topic, 11.5 kicks in, "11.5. Mining with using User's Gigahashes can be stopped by CEX.IO if the amount of the Maintenance Cost exceeds rewards for each mined block or if the mining is economically inexpedient. The decision to renew Bitcoins mining is made by CEX.IO, taking into account calculations of mining effectiveness." THAT MEANS THEY WILL CLOSE THE MARKET. BEWARE PEOPLE.. STAY OUT THE MARKET BEFORE IT IS TOO LATE.."

this is getting out of hand now, maintenance fees continue to make cloud mining with CEX.io very unattractive, very little gain in BTC balance or even losses in BTC balance, where will it end, thinking of moving on..... any advice?Huh should i sell up my GHS and go cloud mining elsewhere? if so, any suggestions would be welcome

It is crazy, if you sell your bitcoins, hold to them or invest wisely elsewhere you are better off in my mind.
hero member
Activity: 1008
Merit: 502
CEX.IO and GHASH/IUO are the largest scammers in the world of pooled mining. Why the admins of this site have not made a public announcement of their selfishness greediness and the fact their mining pool and cloud is a huge scam one of the biggest scams in bitcoin history I do not understand. You should NEVER have negative bitcoin when mining with a companies cloud mining NEVER. CEX are a bunch of legal thieves.
hero member
Activity: 686
Merit: 500
WANTED: Active dev to fix & re-write p2pool in C
It's called "milking it's customers for every BTC they got".

They've been doing it since day one.
sr. member
Activity: 322
Merit: 250
after reading this comment posted online - " Fees are now 90% , and in the next difficulty rise which will expected as 20% rise, fees are also increase that amount, 0.90*1.20= 108% fees , that means,if you hold GHS, you have to PAY!, yes you have to pay for every block solved. Then CEX.IO ,term of use topic, 11.5 kicks in, "11.5. Mining with using User's Gigahashes can be stopped by CEX.IO if the amount of the Maintenance Cost exceeds rewards for each mined block or if the mining is economically inexpedient. The decision to renew Bitcoins mining is made by CEX.IO, taking into account calculations of mining effectiveness." THAT MEANS THEY WILL CLOSE THE MARKET. BEWARE PEOPLE.. STAY OUT THE MARKET BEFORE IT IS TOO LATE.."

this is getting out of hand now, maintenance fees continue to make cloud mining with CEX.io very unattractive, very little gain in BTC balance or even losses in BTC balance, where will it end, thinking of moving on..... any advice?Huh should i sell up my GHS and go cloud mining elsewhere? if so, any suggestions would be welcome
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