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As sad as it may seem, most of what you have said is not applicable to the average Joe looking to buy cloud mining power and not get scammed (i.e CEX at least is not a scam and is very reliable in that sense). Also there is still nothing quite like it the trading platform is awesome. Having said that though please do check your PM. EDIT: if anyone wants to read our (highly controversial!) CEX review they can do so here: http://cloudminingreport.com/reviews/cloud-mining-bitcoin-namecoin-devcoin-and-ixcoin-with-cex-io/You come across as a kid who missed the mining boat and has now set up a badly researched website to make money from advertising. On another note it is hilarious to see other kids bemoaning the maintenance fees at CEX when they have been ripped-off from the very beginning. Even with 0% mining fees CEX is a rip-off. You will see a few nerds boasting about making money from "trading" but they are just the lucky few and you are getting taken in by survival bias. CEX exists only as a cheap way to buy-in hardware for the owners of CEX so they can mine as many coins as they can for their own grubby little syndicate. Sob stories about running at a loss are lies. The recent hikes in maintenance fees are the final death throes of an organisation that knows it can extort bitcoins from gullible teenagers. The only difference I see between PeerBet and CEX is that PeerBet is supposedly a zero sum game and CEX is a negative sum game. |
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Buyer beware.
There are a lot of CEX.IO shills in this thread. Employed by CEX.IO to beat down any nay-sayers.
Note - Your investment can go down as well as down.
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CEX.IO latest gambling wheeze is a “futures contract”. Well, it isn’t a futures contract because you cannot take a short position. It is in fact a forward contract where you have to guess the price of GHS one or two month’s ahead and are then locked into taking delivery at whichever price you buy at.
For CEX.IO to call it a futures contract suggests that they do not know anything about financial contracts and are scam artists.
Stop splitting hair, what does not able to short the contract have to do with anything? futures/forward contracts are very similar, the main difference is one is exchange traded, and the other is mostly private placement with custom term structure. There is nothing wrong with what cex.io did with fha/fhm and calling them futures contracts with a defined settlement. If you want to argue about valuation that's fine, but whatever the **** you said about them being scam artist because they called the contracts futures instead of forward makes absolutely no sense. I have been doing this for a living for the last 10 years, you make no sense. Don't make me laugh. I have 20 years in The City to your 10. Calling an instrument a futures contract and not permitting short-selling goes against advertising standards. I expect to be able to short a futures contract because I know the price is going to go down. Why would I want to buy GHS a month or two ahead of time knowing that the spot price is trending downwards all the time? I would jump on the contract if it lets me short it. And I expect to if it is a futures contract. This is mis-representation and mis-selling of the highest order in an unregulated market. |
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Actually I think you miss the real problem with GHS, that is that it isn't well managed. For example, if CEX really wanted a healthy market they could issue GHS dividends on the GHS held so the increased size of the pool wouldn't have such a negative impact. Sure the price would still decline per GHS, but you would have more GHS to offset it. That is only one approach. They could maintain pricing by calling is something like a Mining Unit and adjusting the amount GHS it represented by the difficulty. etc. etc. They could do many different things if only they cared for their customers.
I didn't get the message that CEX didn't care until they suddenly flipped on the 2FA on everyone and I was locked out of my account for hours because their software couldn't handle the load of everyone trying to log back in. Many were locked out and that was after a bad week at GHash.io. By the time I could get on, it was too late and I had lost .5 BTC. That crash was 100% CEX's fault and they didn't care. That is why I pulled my BTC out of there. In less than 10 weeks I've made back my .5 BTC and several more BTC to go with it.
A scam is a scam. There is nothing to fix. The Metropolitan Police/Serious Fraud Squad should be making arrests but I doubt they have heard of Bitcoin. |
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All you need to know about CEX.IO
The price of GHS is constantly down-trending, which means that a buy and hold strategy will result in a loss of investment.
The holder of GHS is therefore expected to day trade their holding by second guessing market moves, which is unlikely. Anyone professing to have profited from day trading on CEX.IO is either a liar, extremely lucky (mean reversion will soon sort them out) or a CEX.IO shill.
CEX.IO latest gambling wheeze is a “futures contract”. Well, it isn’t a futures contract because you cannot take a short position. It is in fact a forward contract where you have to guess the price of GHS one or two month’s ahead and are then locked into taking delivery at whichever price you buy at.
For CEX.IO to call it a futures contract suggests that they do not know anything about financial contracts and are scam artists.
Not that the kids using CEX.IO will care. They will all gamble away their Bitcoins either on CEX.IO or some other gambling platform.
Read through this entire thread. Anyone extolling the virtues of CEX.IO is always short-lived. Today's extollers will be next month's no-shows.
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i have bought ghs on cex.io. how can i setup miner to mine litecoins?
What a mong! In your earlier post you notice something dodgy about CEX.IO but you go ahead and buy. Why don't you give your BTC to me, I'll spend it on something worthwhile. A bottle of champers and a ho or two. |
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i am surprised there isnt more discussion on the FHA and FHM contracts.
With btc at $460, the FHM end of may contract at 0.004BTC per gh looks pretty good, i think that's the lowest price per gh anywhere currently, and cex.io usually carry a premium vs physical hardware due to the ability to easily trade.
Any thoughts?
Can you short as well as go long on these contracts? If not then it is not a "future's contract" but another CEX.IO scam. And no, selling is not the same as shorting. I want to "sell" a contract that I do not have. |
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Never in the field of human endeavour has so much been lost by so many to so few.  |
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I had about 12GH/s mining for me. I figured it would be cool to have a place to store my btc and just reinvest. But now the price per GH/s is dropping really hard. If I sell out now I will lose out. All well I learned my mistake. There is always a chance of it coming back up again.
There is a zero chance of the price going back up to your pre-loss level. But there is a 100% chance of you raiding your mother's purse. |
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cex.io is down again?
With so many kids "trading" on CEX.IO whose only grasp of economics is the free handout they get from their parents then what do you expect? |
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Market Depth on CEX.IO is very much majority sellers now.
Before, when there were plenty of mug punters, the Market Depth was evenly split between buyers and sellers.
Now, with the majority of people getting burned, there is far less volume on the buy side.
CEX.IO operating on borrowed time.
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A load of guff...
You were going to get cleaned out, one way or another. Either through theft or through your own stupidity in signing up to CEX.IO in the first place. There are no free lunches and you asked for one too many. Tough. The price of GHS continues to fall and the users continue to lie to themselves that the price will rise. A self-perpetuating bubble. An excellent example of what would happen if the lefties confiscated all the world's wealth and shared it out equally amongst the population. Within weeks there would be billionaires and poor people again. Why? Because some people always do the right thing with money but the majority always blow it. You had a few coins but you wanted lots of coins only without any hard work. You blew it. |
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Any of you mongs still trading yourself to multi-millionaire status?
Of course, the price will rebound back up to 0.900...
for me to poop on!
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Have Bitcoin withdrawals been disabled or something? I can't seem to withdraw my Bitcoins.
You don't get it. You are supposed to keep your Bitcoins in your account until you have frittered them away through "trading intelligently". |
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I have been thinking of decentralised betting too.
A dark pool to circumvent exorbitant Betfair fees or to provide exchange betting in jurisdictions that have outlawed it or forced exchanges to leave due to tax regimes.
Betfair is P2P but it is not decentralised. Consequently Betfair can charge commissions.
I am looking for a decentralised P2P exchange with no commissions.
How that is achieved, I don't know. It would mean that prices are located on individual machines. But if you are looking for a certain price to hedge a market then you just post the ask and and let it propagate through the network until some bids it on another machine.
The usual protocol will then write a ticket, confirming the transaction. From there you need a reconcilliation after the event has decided who won the bet and a transfer of funds is made. How this is achieved without 3rd parties, I don't know.
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I just don't get why everybody is crying about how economically disadvantegous it is to buy GHs at CEX.io and at the same time are people buying hardware at much higher price per GHs like Antminer U1 here https://bitcointalk.org/index.php?topic=386170.0 . Am I missing something? Of course GHs price will go down with rising difficulty, but this has nothing with cex. Price depreciation of hardware no matter who you buy or rent from. If you buy hardware then you can't use it for anything else after mining. If you rent the hardware then if depreciates in price on the exchange faster than any Nitcoin you can mine. Both are losers. Try Satoshi dice instead. |
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Looks like CEX is trying to corner the market from many directions, doesn't it? Through mining or a rigged trading platfom. From Status Quo's "Down. Down. Deeper and Down." To The Who's "Anyway Anyhow Anywhere." |
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has btc/usd per g/h ever been price at fair market value or has it always been this off from the beginning. i understand u can sell the shares anytime so i expect it to be slightly higher,but something about this seems way off. is it more worth it for me to buy a rig/usb to mine with and then sell it on ebay?
From my own charts and using my own metrics the price is about fair at the moment. However, the price trend is always down and you will never mine enough Bitcoins to cover that loss. Still, it doesn't seem to stop the many idiot juveniles that use the site. Think Satoshi dice but with loaded dice and you don't know which number is biased. Even since the days of GPU mining the price of hardware per hash has fallen constantly. That is why the value of GHash on CEX is always trending downwards. Whatever you buy now will fall in price. What price a 1GHash GPU based rig now? From now I would say just about all (and most definitely all cloud based) mining is a loss making proposition. The only way you will profit from mining with your own rig is from price appreciation of Bitcoin. You will never profit from cloud based mining. |
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Looking for historical data of GHS/BTC at cexio. More than one month.
thx
:-)
These are the closing prices from October 1st to December 27th. Others may fill in the gaps. 1-Oct 0.23000000 2-Oct 0.23849000 3-Oct 0.23000000 4-Oct 0.23510000 5-Oct 0.22400000 6-Oct 0.21000000 7-Oct 0.21790000 8-Oct 0.21730000 9-Oct 0.21700000 10-Oct 0.19120000 11-Oct 0.18990000 12-Oct 0.18478000 13-Oct 0.18180000 14-Oct 0.18270000 15-Oct 0.14250000 16-Oct 0.13399900 17-Oct 0.13998000 18-Oct 0.14039900 19-Oct 0.14131000 20-Oct 0.13890000 21-Oct 0.13180000 22-Oct 0.12200000 23-Oct 0.09500000 24-Oct 0.08266000 25-Oct 0.09090900 26-Oct 0.09750000 27-Oct 0.09980000 28-Oct 0.10427500 29-Oct 0.10410000 30-Oct 0.10600000 31-Oct 0.10748900 1-Nov 0.10760900 2-Nov 0.11046900 3-Nov 0.11999900 4-Nov 0.10050000 5-Nov 0.10710000 6-Nov 0.11411900 7-Nov 0.10517900 8-Nov 0.10189900 9-Nov 0.09445000 10-Nov 0.09638000 11-Nov 0.09582600 12-Nov 0.09110000 13-Nov 0.09099900 14-Nov 0.08100000 15-Nov 0.07920000 16-Nov 0.07990000 17-Nov 0.08097900 18-Nov 0.08074000 19-Nov 0.07866000 20-Nov 0.08402000 21-Nov 0.08205000 22-Nov 0.08199900 23-Nov 0.08400000 24-Nov 0.08499900 25-Nov 0.08661100 26-Nov 0.07974000 27-Nov 0.07680800 28-Nov 0.06767000 29-Nov 0.06599900 30-Nov 0.06879500 1-Dec 0.07150400 2-Dec 0.07128873 3-Dec 0.07210000 4-Dec 0.07308999 5-Dec 0.07399962 6-Dec 0.07986940 7-Dec 0.07699900 8-Dec 0.07555444 9-Dec 0.07237200 10-Dec 0.06949988 11-Dec 0.07118001 12-Dec 0.07389989 13-Dec 0.07397213 14-Dec 0.07346848 15-Dec 0.07189998 16-Dec 0.07257734 17-Dec 0.07232347 18-Dec 0.07187850 19-Dec 0.06999992 20-Dec 0.06769040 21-Dec 0.06861000 22-Dec 0.06795171 23-Dec 0.06239999 24-Dec 0.05619993 25-Dec 0.05664157 26-Dec 0.05127993 27-Dec 0.04988691 |
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I am also questioning what cex.io does but many people are just going to learn it the hard way.
I see referral links everywhere, youtube, forums etc and I feel sorry for those who fall into this.
Many people think they can get rich quick and they have only themselves to blame for not doing research.
I visited cex.io from time to time to see how it does and I saw the drop from I believe 0.08btc/ghash to 0.03btc/ghash. It did not fall slowly, it dropped like a rock which could be a manipulation.
There are a lot of bagholders or should I say hashholders in cex.io which will not get their initial investment and I hope they learn from this. We are in very early stage of bitcoin, things are unregulated, and people are being scammed everyday. Nobody is going to save your assess if you lost your bitcoin to scammers. I am not saving cex.io is a scam but that place sure is fishy.
If you want to trade to increase your btc holdings, it does not make sense trading at cex.io. btc/ghash will only devalue over time, you might get lucky from time to time but once the next dump comes ready to say goodbye to your investment if you are not prepared.
Agreed. I believe that GHASH.IO is as legitimate as any hashing site but that CEX.IO is an ingenious way of getting people to keep their hard-earned Bitcoin on the site with the chance of them gambling it away to CEX.IO CEX.IO also lures in those without hashing hardware to gamble their Bitcoins too. At least with Satoshi Dice the game is zero sum. It is not a zero sum game on CEX.IO when CEX.IO is self-regulating its own exchange for its own commodity. A commodity which is constantly trending downwards in price and CEX.IO is the only agent able to short sell that commodity. That is insider trading and in any other field would be ILLEGAL. For a company purports to be based in the UK, I wonder why the Met has not raided it yet. |
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