Topic: Why do people still buy GHs at CEX? (Read 2462 times)
anyone know a better lower maintenance fee then 16% like the op has mentioned..
i know i personally have bought 100gh/s on cex.io 2 different times and i have lost money both times. op is correct its a losing venture to just purchase gh/s n mine
The only time mining was profitable was way back when it first started since there was a risk whether they were a scam. They were the first to venture into cloud mining at that level and of course anything that is new to bitcoin has risk but also great rewards. I remember in 2 weeks I triple my initial investment of 0.5 btc to test the waters. All I did was buy low mine for a few days then resell. Rinse and repeat with no trade fees or maintenance fees it was very nice.
i know i personally have bought 100gh/s on cex.io 2 different times and i have lost money both times. op is correct its a losing venture to just purchase gh/s n mine
They also apparently have 1k - 2k traders always online - that's quite a population considering you barely make any cents per GHS per month... IMO AMHASH and hashnest is a lot better! 
im sure cex is legit, but damn, no point in investing in hashes, I rather just buy from their exchange then.
If you play cex as an exchange theres money to be made and only if you consider the gh as interest. looking at it from a mining perspective esp long time will always resuly in a loss
There are crazy ways to get profit from cex.io.
1. Buy at low prices
2. Mine it for few weeks
3. Sell it agan
Some person get profit with this crazy ways.
But, if you can't predict GHs price, it will be harder.
1. Buy at low prices
2. Mine it for few weeks
3. Sell it agan
Some person get profit with this crazy ways.
But, if you can't predict GHs price, it will be harder.
I'm pretty sure I am losing money with cloud mining at cex io.
The fees are ridiculous.
The fees are ridiculous.
with all the new cloud miner > i dont understand why CEX.IO is still 0.0037
i think many ppl who still buy GHS in cex.io are bitcoin newbie
they see many cex.io promotion (using PTC or banner) and think buy GHS from cex.io will make profit
they still don't know how to calculate BTC earnings from cloud mining and don't understand rising difficulty will make GHS / BTC price drop to earth
if they figure out like that, they will cashout their GHS and withdrawal their BTC from cex.io
and go to antoher cloud mining who give "reasonable" price for GHS
they see many cex.io promotion (using PTC or banner) and think buy GHS from cex.io will make profit
they still don't know how to calculate BTC earnings from cloud mining and don't understand rising difficulty will make GHS / BTC price drop to earth
if they figure out like that, they will cashout their GHS and withdrawal their BTC from cex.io
and go to antoher cloud mining who give "reasonable" price for GHS
But do people still buying in CEX ?
^ Indeed. VERY high volume with their trading, Very volatile most times. If you have experience trading, and patience, you can definitely make a nice profit. Especially if you have a decent amount of BTC to start with.
It took me being up odd times of the day to hit the highs and lows of when different countries would get up and go to bed.
It is fun. Luckily I'm up odd hours anyways due to my injury.
It is fun. Luckily I'm up odd hours anyways due to my injury.
I need to remember to go to CEX next time I'm trading.
Assuming good volatility, that does sound great.
Because they're hoping to have a ROI. They would if they would keep their minig power for life. Instead they resell it so the wheel always keeps turning!
Actually.... They will get much closer to/surpass their ROI by trading higher than they bought, instead of just hanging onto them. As time passes by, the amount you get for your GHs will slowly decrease. This is because of a couple different reasons, difficulty raises being a main reason. So right now I own 24.2 GHs at CEX, right now this gets me ~5000 Satoshis every time they solve a block. A year from now though, I imagine I would be getting little to nothing back from those 24.2 GHs unless I increase that amount.
Most people are playing it like an exchange and the mining gh can just be viewed as interest
Exactly. And no trading fees = a Huge plus to trading there/mining there. Huge. And it doesn't hurt that GHash.io (their mining pool) has been killing it lately with getting the blocks. 38 blocks claimed by them just on 4/2/14. That number would be even higher if I went back a full 24 hours. https://blockchain.info/blocks
And like I said, approx. 5000 Satoshi reward for my 24 GHs, multiplied by 38 blocks, = 0.0019 BTC added to my account just for today, so far. Much more than I could hope to make on faucets, and like it's been said - the dividends are just a plus, like interest.
Most people are playing it like an exchange and the mining gh can just be viewed as interest
Because they're hoping to have a ROI. They would if they would keep their minig power for life. Instead they resell it so the wheel always keeps turning!
bitcoin will be free in a year anyway. i'm buying all pennies for 1 satoshicoin
Huh.
I guess he meant it will be fully mined out.
It took me being up odd times of the day to hit the highs and lows of when different countries would get up and go to bed.
It is fun. Luckily I'm up odd hours anyways due to my injury.
It is fun. Luckily I'm up odd hours anyways due to my injury.
I need to remember to go to CEX next time I'm trading.
I need to remember to go to CEX next time I'm trading.
bitcoin will be free in a year anyway. i'm buying all pennies for 1 satoshicoin
Huh.
Jump to: