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

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.

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..

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.

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.

They should shutdown that Ghs/BTC right now. That pair is so sh** making you lose money.

thanks

Can you tell us how?


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

They scammed my 10 btc+ . Be careful

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.

Sounds interesting

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

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.

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 

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.

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?

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

Invest in some legitimate business instead.

So, if these sites are ponzi, but don't disappear for a good while, I could still make ROI?

Arrrgh, its such a minefield out there! 

You could try scrypt, scrypt-N, X11 cloud mining, ROI is quick and 2 months! Such as LTCgear is quite hot lately!

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.

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.  

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?

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


cex.io is rising fees as their maintenance costs are rising but maybe they are milking the cows too

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.

It is crazy, if you sell your bitcoins, hold to them or invest wisely elsewhere you are better off in my mind.

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.

It's called "milking it's customers for every BTC they got".

They've been doing it since day one.

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? should i sell up my GHS and go cloud mining elsewhere? if so, any suggestions would be welcome