Bitcoin Forum

Important! DOGE and NMC wallets

Please be informed that storage fee will be applied for all DOGE and NMC wallets, as of December, 7th. This fee will be used for running the support of these wallets and will be charged in amount of 25,000 DOGE and 25 NMC per day respectively.

We recommend withdrawing your DOGE and NMC funds from CEX.IO before that date, to avoid losses.

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Based on above and current prices:

25000/day * $0.000216 = $5.30/day for DOGE

25/day * $0.200801   = $5.02/day for NMC

Why not say we no longer want to support these two coins. It is the intention of CEX.IO to confiscate all funds unless you remove them immediately to avoid losses. Even my bank is more friendly.

DOGE: Blockchain size   14.03 GB (source (https://bchain.info/DOGE/))

They want $159 a month on top of transaction fees for 14.03 GB of storage. What are they storing the DOGE blockchain on, diamond plated SSDs powered by blood?

It's pretty ridiculous and it is a pretty good laugh.

I have received the same mail today. That's indeed quit a lot they count. I think there are places which are much cheaper to store these coins.
Is there a reasan that DOGE went from about 50 sat to 30 sat in a few weeks. It stayed for a very long time about 50 sat.

sounds legit... then again I'm sure nobody leaves much on this exchange.

I notice that CEX.IO has been trying to clear up their server and it is one of the exchanges where you will find most of these shit coins, we need most of these shit coins to die natural death since there are of no value. I won't blame them if they decided to go that route.

yeaaap, there are too, too many alt-coins if you ask me. From somewhat significant ones to completely useless that only purpose is pump and dump and have no future of any kind at all.

My bank isn't, it would have charged me $25 for the email telling me about the $5.30/day charge.

I hope CEX.IO doesn't establish a precedent that other exchanges start following. Most of us forget about coins on exchanges and only log in if they get pumped. It was bad enough logging in and finding your coins stolen in a hack, but now the exchange might have confiscated them all with outrageous fees.

I looked at the CEX.IO website and couldn't find any doge or namecoin markets. Are you sure it was CEX.IO that sent the email? The only CEX.IO markets I could find were for bitcoin, ethereum, and litecoin, but I have never registered on it so I might have missed some.      

Yeah it sounds more like a way to force users to remove those coins without having to delist them,
because no one is going to pay these outrageous fees.
Pretty ridiculous tactics if this email is accurate.

It looks more like a "strategy" to send away the users.
Maybe they have seen that too many Doge/Nmc stay unused on cold storage and there's a chance to seize some for the upcoming Christmas presents. Not nice.

Yes it was from them. There was a time when I mined on ghash.io (owned by cex.io) and you could sell merged mined coins like doge and namecoin directly on the exchange. Haven't visited in years; but, still receive emails.

Thanks, I checked on the internet archive and found historical webpage snapshots showing the old dogecoin and namecoin markets.

The stats for ghash.io at btc.com say it didn't mine a block in November, and only got four in October. There's a chart showing it was a massive pool in 2014, but has tailed off to insignificant now. Ghash/cex.io could be getting so desparate for money that it's raiding members old wallets.

https://btc.com/stats/pool/GHash.IO

But nice trick from CEX,  the user was actively run the coins, soon.
$5 for a day, what a jokes is this.Just a short period until Christmas was coming they will need more money. :D
Nice email from CEX.  :D

This is an ingenious way to unlist a coin, forces people to withdraw whilst making money from dormant wallets :D :D

Safe to say I will be removing all my coins from CEX.io

i think i'll leave one doge on there and never respond to any emails from them to teach those guys a lesson.

cex.io become worst after they shutdown the mining, and for that email, i will make withdraw all of my doge and nmc in that site and fortunately i've done this before so i think i don't have any altcoins stock in their site. so better you withdraw all of your coins in that site and send it into other market exchange and don't respond with their email.

sounds tasty at all in trying to make something ;D

"How to make your exchange more popular" eh?

They just want to make people withdraw and feast on the afk-wallets but wasn't a regular delisting working aswell?

exactly this is the reason. to ask your customers as an exchange to pay $5.30/day for keeping DOGE on your exchange wallet is ridiculous and this is while other exchanges exist with better volume!

i gave up on cex.io the day they changed their minimum order volume from noting to 0.01BTC.
i learned trading on cex.io with trading Doge (buying 100 D and selling 100 D) and because of no order size restriction it has been a great experience. but sadly it seems like they have been setting new restrictive rules to kick out customers!

See? It won't take long for capitalism to nudge over the free decentralised principles of crypto.

A pity as this move will exclude even more people from crypto trading. Anyone else doing the same for doge?

CEX.io reputation goes nosediving because of this.

WOW classy operation they got going on over there.  :D

Hey all!

As you know, GHash.IO pool has been closed, and NMC and DOGE coins are no more traded on CEX.IO. Therefore, CEX.IO exchange will stop supporting wallets for these currencies in the nearest time. Considering this, we have sent out an email to users having DOGE and NMC coins on their CEX.IO balances, informing them about the upcoming storage fee for respective wallets.

We understand that fees are restrictive, and they are meant to be so, for holders of not supported balances to withdraw their funds. We have read about storage costs calculations here, but you have to consider also, that in addition to storage every coin wallet has to have a running process, and a separate server to run on, in addition to some other expenses that are needed to support coins that we do not mine or trade any longer, and those are costs that we are trying to avoid and put into development of trading features long awaited on our high-volume markets.

We have added Margin Trading to our largest trading pairs, that allows you to enter the market and earn with smaller amounts of your own cash. We have lots of new features planned for the future and we simply wish to concentrate on core features of our platform.

CEX.IO traded there like normal

My suggestion would be to talk all your coins out of that exchange. When they start to collect storage fees that is a sign that they might be in desperate need of money to maintain their operation. The exchange might close next year if their active users do not start to increase.

Running a bitcoin exchange is a very competitive business.

Your assumptions might be possible that on nextyear cex.io will shutdown if no more users will use their platform and also that message of cex is somehow a bad move because they give attention for its users the indication of need of money but its actually a good move in the way that they notify its users that they should withdraw their coins particularly on DOGe and other to avoid such losses.Well atleast they are honest.

Good to heard official statement from CEX here. I understand what you are trying to do here, but this is not the way.
Do you seriously think that taxing coins is the best idea so people would withdraw DOGE and NMC?
This move will only undermine your trust - if you can do this with some coins now, you will probably do it with another one in the future.

CEX.IO is a reputable exchange. 1. It has never been hacked. 2. It is involved in other vertical markets within the community.

Its not like they are not giving everybody time to make a withdrawal. That could be done in 1 day. They obviously were making a profit on those coins. Its their perogative. Stop whining.

Lol ? What !? No matter how many times I read that I can't believe thst is an actual email. What did they think while they were writing this ? Clearly they were not thinking at all.

Please withdraw your coins from our exchange or we will steal them from you using a made up excuse. Lol priceless. xP

Hey all!

In fact, we really do want our users to withdraw DOGE and NMC, that are no longer traded on our platform. Costs are restrictive for two reasons. Firstly, to persuade users to actually do so and avoid losses. Secondly there is cost to us, as each of the coins requires several server instances to run properly (at least two, or more depending on the number of coins our users have on exchange). Those servers are expensive and the alt-coins were traded in volumes close to zero, so it is not worth for us to keep them running.

We have warned all our users with those coins on balances multiple times in advance before canceling the trading pairs and enacting storage costs, and we made sure more than 90% of users have actually withdrawn their coins before we put up the storage fee. All in all, it was an effective measure.

We are not going anywhere, as some have suggested in this thread. We are focusing on major markets such as BTC, and we will make sure to add more features to BTC pairs to give you better trading instruments.

Cheers!