**CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App***

[AxlRose]

@CEX : Guys now you have a new issue verification. I guess you are reading this and you will be able to help guys on the forum and outside the forum.
 

Either CEX is too hard for some folks or the users are NOT reading the emails form compliance or support or whatever.

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[CEX]

Thanks for your posts guys.
We'll investigate and get to the bottom of this.

[blodeux]

https://i.imgur.com/mny9nuY.png


can u make this page appear more often?

it is more fun than the usual site and as far as I can tell it fixes the negative mining and extortionate fees.

Liking your work 

[Serpens66]

hey cex, what is wrong with your exchange?

all charts show a 0 volume the last ~12 hours and my bot placed hundreds of orders, because he thought the previous orders were filled (so obviously you returned an empty "open_orders" response)
So whats happening?

edit: it seams for some reason the setting of the charts was 1m, that's why the volume was 0. But it does not explain the api error.. i will write to support.

[blodeux]

BTC @ 363 and STILL no mining.
WTF cex are you EVER going to restart mining?
if it went to over $1000 today would you still be telling us that it not profitable? ffs

[Raimonn]

With these increasing prices in bitcoin, will Cex.io restart its mining on cloud? Or it closed forever? Waiting for an official answer.

[djselery]

i'll just leave this here...

[CEX]

Dear CEX.IO users,

Please be informed that despite considerable Bitcoin price growth, it is still not enough for profitable Bitcoin mining, taking into account current difficulty and maintenance cost.

Take a look at the following calculations:

There’s an average number of more or less 3,600 BTC gained from mining each day. The hashrate is currently about 480,000,000 GH/s. Thus, the expected Bitcoins/month with 1 GHS can be calculated this way:

1 GHS/overall network hashrate * Bitcoins generated per day * 31 day

1GHS / 480*10^6 GHS * 3600 BTC per day * 31day = 0.0002325 BTC ~ $ 0.09 per month (at 400 USD/BTC rate)

Meanwhile, 1 GHS maintenance per month is $0.105/month. Thus, mining is not profitable at the moment. Moreover, the estimated next difficulty increase is in about 1 week. Provided the Bitcoin price won’t change much, there is no positive forecast for profitable mining in the nearest time.

Note that the calculation is very approximate and can be negatively changed by pool luck. Moreover, not only the price has to go up, but also flatten out at a certain level, for mining to be truly profitable.

At the moment, owners of cloud-based GHS on CEX.IO are free to choose 2 options:

– let CEX.IO decide the mining behaviour (where we will be monitoring the mining difficulty and Bitcoin price and switch your GHS cloud mining power depending on profitability);
– control cloud mining at their own risk (enable on their CEX.IO Profile > GHash.io tab (https://cex.io/trade/profile#miner) > Turn off Let CEX.IO Decide > Turn on cloud mining).

Please pay attention that you fully undertake the risks when choosing the second option.

[AltFaucets]

So how high have to be Bitcoin price, to be profitable?

Edit: Maybe in other words: What minimum price can make mining profitable for you?

[skuser]

I have to step in because your calculation is a bit misleading. It is absolutely unimportant what the current hashrate is, the only important number is difficulty.

Your maintenance fee is $.105/GHs/month = $0,0035/GHs/day if we take month having 30 days. That means $3.5/Ths/day.

At rate USD/BTC $450 that means 3.5/450=0,0078 BTC/day.

At current difficulty 62253982449 1 Ths makes on average 0,008078 BTC per day. That's theoretical revenue which can be found here https://bitcoinwisdom.com/bitcoin/difficulty in the right upper corner table or calculated with this formula:
GhS*1000000000*25*24*3600/4294967296/difficulty
So 1 THS at current difficulty will mine 1000*1000000000*25*24*3600/4294967296/62253982449=0,008078 BTC/day

So at $450 the miners should be already profitable.

However this works only if you have statistically important amount of hashrate. With 6 PHs you should mine approximately 2 blocks per day.

Also I have to agree that with next difficulty change the cex miners will probably get into negative ROI again.

These calculations are available live at nextdifficulty.com.

[CEX]

So how high have to be Bitcoin price, to be profitable?

Edit: Maybe in other words: What minimum price can make mining profitable for you?

What is important, is that the maintenance cost per 1 GHS is lower than earnings from Bitcoin mining with 1 GHS. Thus, with increasing mining difficulty and extreme volatility of Bitcoin price, it is hard to predict now, at what price mining will be profitable for sure.

I have to step in because your calculation is a bit misleading. It is absolutely unimportant what the current hashrate is, the only important number is difficulty.

Your maintenance fee is $.105/GHs/month = $0,0035/GHs/day if we take month having 30 days. That means $3.5/Ths/day.

At rate USD/BTC $450 that means 3.5/450=0,0078 BTC/day.

At current difficulty 62253982449 1 Ths makes on average 0,008078 BTC per day. That's theoretical revenue which can be found here https://bitcoinwisdom.com/bitcoin/difficulty in the right upper corner table or calculated with this formula:
GhS*1000000000*25*24*3600/4294967296/difficulty
So 1 THS at current difficulty will mine 1000*1000000000*25*24*3600/4294967296/62253982449=0,008078 BTC/day

So at $450 the miners should be already profitable.

However this works only if you have statistically important amount of hashrate. With 6 PHs you should mine approximately 2 blocks per day.

Also I have to agree that with next difficulty change the cex miners will probably get into negative ROI again.

These calculations are available live at nextdifficulty.com.

Thank you for feedback!

[AltFaucets]

So how high have to be Bitcoin price, to be profitable?

Edit: Maybe in other words: What minimum price can make mining profitable for you?

What is important, is that the maintenance cost per 1 GHS is lower than earnings from Bitcoin mining with 1 GHS. Thus, with increasing mining difficulty and extreme volatility of Bitcoin price, it is hard to predict now, at what price mining will be profitable for sure.

So what we know is that mining with Bitcoin price ~$400 is not profitable.

OK.

Will it be profitable if the price of BTC tomorrow rises to $ 600? (or $800)

[siameze]

So how high have to be Bitcoin price, to be profitable?

Edit: Maybe in other words: What minimum price can make mining profitable for you?

What is important, is that the maintenance cost per 1 GHS is lower than earnings from Bitcoin mining with 1 GHS. Thus, with increasing mining difficulty and extreme volatility of Bitcoin price, it is hard to predict now, at what price mining will be profitable for sure.

So what we know is that mining with Bitcoin price ~$400 is not profitable.

OK.

Will it be profitable if the price of BTC tomorrow rises to $ 600? (or $800)

I had forgotten of this promise lol. I no longer mine there, so don't think I have anything of note besides some GH/s dust and NMC.

[Raimonn]

From 600$ to 800$ for profit mining? Thats too high, it seems that cex.io didn't invested in better miners with low electricity costs.

[babylon99]

Hello,

When the mining start ? i heard at btc 420$ the company start mining bitcoin again. Is that true ?

[bitlancr]

BTC @ 363 and STILL no mining.
WTF cex are you EVER going to restart mining?
if it went to over $1000 today would you still be telling us that it not profitable? ffs

It's weird right. Once they had the largest mining pool,these days there only have around 6%. Their exchange is crap.

The ghashes are worthless, what a downfall.. and yes this can only happen in the land of bitcoin.

[Zaun]

They will not restart their mining operation on those old asics.

Propably they have sold them already, leaving investors with left with hope.

This is the main reason so many people left them.

[newcoins1978]

I remember i used CEX for trading. Then I analyzed the market and saw the price of their hashes were based on nothing.. So i left them.

Reading this makes me happy to see it was a wise choice.

[Serpens66]

You all should forget about cex as a cloud mining service.
It is an average bitcoin exchange now.

[Newcoins2020]

You all should forget about cex as a cloud mining service.
It is an average bitcoin exchange now.

To me it is below average. The did a great job back in the day, today it is nothing more then a ghost town exchanges.

Yes ghost's wondering there and thinking when their GHASH will come alive again.