Bitcoin Forum

Their current price per GHS is .0339 BTC

If you plug that number, multiplied by the number of GHS you wish to purchase, into their mining profit calculator... the amount of profit over the following year NEVER reaches the amount you spent to get the GHS... and so you never recover your initial investment even if they had 0% maintenance fees.

So I'm failing to see why people are using the site. I know you can make money trading based on the ups and downs of the GHS price, but if your intention is to mine, forget it.

Are there any good cloud mining services where you can actually profit?

Cex.io might as well be a scam unless you buy to trade. But mining... meh.. i wouldn't. If you want a good mining opportunity, click my sig. As soon as I saw what they were offering I pretty much immediately threw money at them. You're looking at making $200-$300 on a $120 investment. So yeah, I went for it myself and gave them over a grand :'D ^.^'

It is not a scam, but as you have discovered, the shares are extremely overpriced. They need to sell for less than 0.015 BTC to have a reasonable chance of breaking even.

Some people say that trading is the way to make money. I'm curious how many of them bought shares only 5 days ago at 0.045 BTC and still own them at 0.034 BTC. That's 25% loss. Looks like trading is a money loser, too.

Why would they sell at a rate that was less than they would make if they just mined themselves?

You can still gain through trading on a downtrend. There will always be fluctuations you can take advantage of.

such  sketchy domain name...

scam? No. Practically guaranteed to lose you money? Yes.

theres a cloud mining service like CEX.IO where you can make money

That sites a waste of time, any person has so many better options at this point.

But people still swarm to it. Why?

Not if you're lucky with the GH/s price! I was, and I made quite a lot! :)

So, no it's not a scam!

No it's not a scam, but it is filled with a lot of bots that fluctuate the price a lot.
As long as you can earn back what you can possibly lose in a timely manner.

I'd recommend more trading ghs rather than holding.

Scam? NO.
But you are right, the price is extremely highly priced, and you can hardly get your investment back.

I highly doubt that.
Care to share the info?  :D

Seriously, why don't the site use the hashrate to do mining for themselves then?

cex is an investment venture. Just like stocks exchange or forex. It's in your click and timing. The worst you plan or project, the bigger the chance of losing it all.

It is very heavily advertised on faucet and ptc sites, so probably attracts newbies.

And some users keep telling others "the site is easy to use", and ask them to register with referral links.  ;)

There are a lot of other good cloud mining services. Using Cex.io you'll lose all your money

Many people don't calculate, they fall for overpriced trap. There are many online calculators you easily calculate your profit/loss . When i first heard the cex.io i am tempted to purchase from there.

not really a scam, but a very terrible investment choice...