Bitcoin Forum

I see alot of people talking about cex.io and buying gh there etc. and I dont understand the concept of the website at all. Would anyone be kind enough to explain?

instead of running your own mining rig. You buy Ghs  and they do the mining.
Right now the current lowest price for 1Ghs is 0.096. To get 1Ghz would require 3x USB block erupters.

To get 1Ghz in AM Usb Block Erupter 0.20BTC    
1 Ghz at Cex.io                                0.096BTC

1 Blue Fury USB 2.5Ghs      0.43BTC
2.5Ghs Cex.io                    0.24BTC

Roughly half the price. Also you have the added cost of buying usb hubs and the cost of running a PC 24/7 or a Rasberry PI  to run those. The numbers look better if you have 5k to spend on a KNC Juptier, But it looks very attractive on the face of it. I bought a few Ghs from the site tonight.

Pretty good ban for your bucks, and you dont have to mess with hardware.
You can sell your Ghs back at market priices. If BTC prices are up, maybe you can sell for more than you paid. However you Ghz worth will and should decay over time. Look at what a Avalon was worth 6 month ago.

Okay so there is one catch22 when utilizing cex.io (https://cex.io/r/1/frankenmint/0/).  You do need to pay their maintenance fees, outlined here: https://cex.io/maintenance

Looks like now its roughly 3.33 percent of mining profits.  (equivalent of mining on a pool with a fee such as btcguild)

But that's it.  If you can keep your eye on the market and have your gigashashes remaining in sellorders, you could actually make money from the spread too...not just the hashpower only.

Also there are no fees on there pool. You have to use your cex bought hash on there pool and you can add any hardware hash you have and save the 3%.

At present, if you want a large about of hash. It looks less attractive. Correct me if Im wrong.
If you buy 550ghs. Equal to a KNC Jupiter it looks less attractive. But if you dont have 5k to spare, its much better than the lower cost and way overpriced miners. What is the price per GHS of a KNC Jupiter?

Yesterday I made 5gh/s for free from trading in and out

Could you explain how you go about playing the spread?

http://cex.io/informer/batt01/23b4f9d184047a01b678125bcfc04ad0/

well it is easy with the no trade fee, example.

Buy 0.094 sell 0.096
buy 0.091 sell 0.098
buy 0.095 sell 0.0965

rinse and repeat. I have a balance of 21.16019908BTC which i deposited. basically i spend half on shares, then stack another buy order further DOWN the que, stack a sell order higher up the que, then just wait, either i buy more and AVG price is reduced or i sell some and AVG price is reduced. If i sold all my shares i would earn an extra 0.5 on top of what i deposited, not bad for playing a market for 24hrs.


just make small trades frequently and you will do fine, or just wait for the big buys and sells.

I would really appreciate if you could, just so i could get to try it abit :)
Address: 1KrfJahRfCUPon8JbD5zVT8QRvGxHrQGsK

For me on CEX.io over a week now  up to about 7ghs most of it bought with alt coin sales from gpu mining. With that said, i am super impressed with the CEX.IO concept and now they have merged 3 alt coins to the mix. I plan to move most of my focus on cloud type hashing as far as BTC goes,,,will still alt mine as it feeds my G/Hash funds lol,,,I like it so far highy recommend.....and and have also wihdrawn funds and all went smooth.

Basically trading invisible GH/s and mining for you, making money. You could also make some money by trading them.

you buy and trade your balance

but not referals

if you owner 30 referals this GigaHashs be work for you

but you not posible sell this

i be same question 5 month ago  ::)
this answer

i Rusia but intelectual intuition i understand your brother say you how true

100% how true in practic my situation
i am make 0.4 Bitcoin in 1 day
same situation  :-*

this how free 4 GHashs  :)

Ok i calculate this same normal

I am liking it too. Trying to get to 100ghs. I have 51 and I pointed my harware to their pool, and added my hardware hash. No fees on pool. I have gotten .46ghs from refferals.

My stats...
#   Worker   5m   15m   1h   1d   Rejected Shares Last 24h   Click to edit
Stale   Duplicate   Low
1   batt01.ghash   53.73 Gh/s   52.15 Gh/s   46.29 Gh/s   40.61 Gh/s   0   0   0   16
3   batt01.ghash2   20.08 Gh/s   19.40 Gh/s   18.18 Gh/s   18.13 Gh/s   2512   0   0

Sent you something to get you started.

Welcome to the spam topic, where referral links hide under everything :D

Thanks, I appreciate it :D

I think the let down of the site is that they don't accept fiat currency. Considering that they are supposed to be a UK limited company, they should probably take google wallet payments as well... the only problem being compliance.