I've said this on other threads, but cex is the same as any commodity exchange: if you can buy low sell high, you're fine. Holding GHS at Cex when its price is rising is of course profitable, with the added bonus that it mines too.
As a longterm investment of putting BTC into cex to do a buy-and-hold, it may be very unprofitable.
but...
As a longterm investment by trading on the hi/lo or using an EMA trading bot, it's potentially very profitable.
As a pool to mine at using your own devices and supplementing that with Ghs, it's pretty good.
As a combination of the above, it's definitely profitable.
There is a change that enough users will use cex to bring its Ghs prices in line with hardware prices, but for now, it's in an independant world of its own, and is more tied to panic of other users watching gox than the actual price of mining hardware.
I find cex's best advantages to be the 0% trade fee, the way mining rewards can be traded instantly, and that it's the most powerful pool to mix-mine 4 coin types.
Having said all that, it's true that 0.001 won't get you far on there.
Topic: CEX.IO question (Read 705 times)
Well, if all you have is 0.0001 then there's absolutely no point in 'investing' in CEX.io. You probably won't be able to transfer such amount anywhere, due to transaction fees. CEX's withdrawal fee is BTC 0.001, so if you invest 0.0001, you will not make that much in your lifetime.
Think the smartest thing you can do with such fortune is try your luck on just-dice.com
Think the smartest thing you can do with such fortune is try your luck on just-dice.com
So, I've been reading some of the threads on cex.io and from what I understand, most people seem to think it's a waste of money to buy GHS there. I have no reason to doubt this, however, as someone who has invested no actual money into my bitcoins, I'm trying to figure out if there's any way for it to actually be a loss for me.
I own about 0.0001 BTC at the moment, since the only way I've been making them is by clicking links whenever I remember to. (Until I understand more of the workings of the technology and the economic market, I'm not going to invest any of my money, since I'm far too broke to speculate in anything.) I have no way to do any mining on my own, even pool-mining, since the beginning investment in hardware I would have to do far exceeds anything I would be able to make back. Unless I'm completely misunderstanding anything about the system, the only money I could lose would be the fractions of BTC that I didn't buy in the first place? And as long as GHash.io is doing any mining whatsoever, I should be increasing my amount of BTC, even if it's by very small amounts?
So, I suppose my question is if the way I'm thinking about it is wrong? (Also, I'm not expecting to make money out of this. I really just wants to see how it works.)
I own about 0.0001 BTC at the moment, since the only way I've been making them is by clicking links whenever I remember to. (Until I understand more of the workings of the technology and the economic market, I'm not going to invest any of my money, since I'm far too broke to speculate in anything.) I have no way to do any mining on my own, even pool-mining, since the beginning investment in hardware I would have to do far exceeds anything I would be able to make back. Unless I'm completely misunderstanding anything about the system, the only money I could lose would be the fractions of BTC that I didn't buy in the first place? And as long as GHash.io is doing any mining whatsoever, I should be increasing my amount of BTC, even if it's by very small amounts?
So, I suppose my question is if the way I'm thinking about it is wrong? (Also, I'm not expecting to make money out of this. I really just wants to see how it works.)
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