Wanted to reply to the thread here
https://bitcointalk.org/index.php?topic=313205.0 but figured having just registered I didn't quite have the priviledge, so posting it here for anyone who cares.
I'd signed up at Cex.io just yesterday for their cloud based hashing. After reading through the various forums on the long wait on different hardware which can only be pre-ordered as of now, unless ofcourse you dug around Amazon/eBay and the likes and didn't mind paying a premium for new and used hardware. Which i was not keen on, so after careful deliberation, decided to give these guys a try. Figured made sense with their current hashing power prices which at the time of writing this post was at 0.1078/Ghs. Bought 10Ghs for approx 1.1 BTC to see how the mining went along.
Registration:
* Was a breeze. A simple email activation and you're set with an account.
Buying/selling Hashing power:
The tricky bit right after registration, the system auto-generated an wallet address to make a deposit to get started. So made deposits over 3 transactions, though the user control panel showed up the transactions almost instantly.. They transfer didn't get credited to my account right away. Pls note the control panel says it requires 3 transaction confirmations but despite all of them getting over 20+ within a couple of hours.. The credit never showed up.
Shot off a couple of emails with all the transaction details across to the support staff, 3hrs went by and never got no reply back. But just after having sent the 2nd email, the account finally reflected the credits with the BTC balance.
Well, their site didn't quite mention any other action was needed. So I'd assumed the transferred BTC automatically bought the GHs with the balance.. Well, not quite! Browsing through their forum I noticed it actually requires the user to place an order first for the amount of GHs one wants. And then their system automatically matches sell/buy orders. Now loaded with that info, I placed my buy order with the BTCs I'd just transferred to my account. 20 mins and still no go. Once again had to browse through their forum to figure out that my buy offer was tad lower then the current prices and therefore no sell orders matched up with my offered prices. So then had to cancel the order, and re-place a new order with the updated rates and boom within a couple of secs I had 10Ghs in my account and they were already mining by the time I refreshed the page. Just like that
Configuration:
The script autodetects your GHs bought and automatically gets your worker(s) configured on the GHash.io mining pool and clicking the top right icon takes you directly your GHash.io user control panel. On clicking the account panel one can check live mining info - blocks solved, hashing rate, total shares, your shares, payout etc.
Payouts:They're instantaneous and get credited to your Cex.io BTC account. You can chose to withdraw them to your wallet and/or buy more hashing power from your trading account. There are no limitations on how big/small your order is, so long as your buy offer meets a sell offer from other users, the GHs are instantly bought up and added to your mining project. Also note should you have a sell offer setup anytime for your already existing hash, they'll continue to mine until they're actually bought up, i.e they don't stop mining when you setup a new sell offer.
Downtime:
Well within the first day (31st Oct). I noticed a downtime for about 4 hours and both Cex.io as well as GHash.io website had been unreachable and kept landing on the cloudfare.com web page. Until now, I still haven't received any official email on the downtime but things seem back to working again and I've been receiving my micropayments. Also noticed a spike in my hashing power for the equivalent downtime period - compensation maybe? Am not sure, also wonder if it was a DDOS if anyone can confirm and happens to have any official info.
https://bitcointalk.org/index.php?topic=313205.msg3454810#msg3454810Seems wasn't me alone!
https://blockchain.info/pools?timespan=24hrsShows GHash.io having had 20+% of the block rewards the past 24hrs.. That's pretty much been the average over the past week.
Rating:Overall I'd rate it 4/5 so far. Half a star deducted for never having received an official reply about the pending BTC credit despite 20+ confirmations or any support ticket. Another half a star deducted for the downtime and the lack of any explanation over email. Though what I'd consider a big bonus would be the recently revised 0% pool fee and 0% maintenaince and setup fee. So I'd wait out a couple more weeks and should all go well, I'd definitely scale up to a THs. Also think the information on how to get started should be made available on the front page or so, not really newbie friendly as of now.
So for all those just looking to start without hardware, with no clutter and added electricity expenses PLUS the long arduous wait for the hardware companies to eventually ship out their goods, who so far have given no specific dates. I'd suggest you give it a try, might not make you millionaire but at the current rate of difficultly, you could break even within a couple of months. Unless GHash.io gets crazy lucky with the blocks over next few days!
Well should the post have helped you in anyway, you can always contribute to my small kitty here at 1yH2GKhBDEEjobf94wb1k79y3SA8Lhd1s or if you're keen on getting started with Cex.io you can join them at the link here
https://cex.io. Thanks for reading!
Mod note: Affiliate link removed.
