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

[IYFTech]

Anyone who pays over BTC0.07 per G/h needs their heads testing.

In less than 2 weeks CEX.IO's available balance has more than doubled to over BTC1000.

Who's making a killing here?

[Cablez]

Could somebody share a link to a stratum difficulty calculator or a formula? I decided to point my miners to ghash.io and am getting a ton of "stratum requesting new work". I am running only 2.6GH/s with the minimum difficulty set on 16, which is the default to my understanding. I previously was mining on eliguis & do not recall getting so many "new work" requests. Cheers...

Simple formula is : GH/s  /  1.4

Read here : https://bitcointalk.org/index.php?topic=274023.0

Thank you kindly Sir...

edit**Im still getting a ton of requesting new work but perhaps either A)its nothing to worry about or B)lack of knowledge with stratum & pool mining in general.

You are mining on a nearly 1Ph/s pool. There are going to be blocks found rather rapidly.  Every time a new block is detected on the network you will see a flushwork so as to minimize stale or rejected shares.  This is normal behavior.

[high110]

Largest buy order I've seen placed so far:
08:09:26
@0.11179   
1660.68216815 GHs       
185.6476595774885 BTC

Omg!!! No - diff change in only 2 or 3 days...!!!! Recover your money!!!

[papaminer]

I do not think of it as a negative thing...

here:

It will be more like this:
Difficulty increase -> miners need more GHs -> more demand in GHs -> prices go up in CEX



Not this:
Difficulty increase -> miners panic-selling -> selling GHs CHEAP -> prices go down in CEX

[fractal02]

I do not think of it as a negative thing...

here:

It will be more like this:
Difficulty increase -> miners need more GHs -> more demand in GHs -> prices go up in CEX



Not this:
Difficulty increase -> miners panic-selling -> selling GHs CHEAP -> prices go down in CEX

Exactly !

Every diff, Miners need more GH/s and Cex.io haven't illimited GH/s to offer...

[CobaltBlueD]

I do not think of it as a negative thing...

here:

It will be more like this:
Difficulty increase -> miners need more GHs -> more demand in GHs -> prices go up in CEX



Not this:
Difficulty increase -> miners panic-selling -> selling GHs CHEAP -> prices go down in CEX

Let's be realistic.  Obviously, the increased difficulty and the introduction of maintenance fees means the overall value per GH has been dramatically reduced. If you will pay twice as much for half the return, I have a bridge to sell you. In reality, the value of the GH should naturally diminish over time however, it also pays a dividend. With that you can make and informed decision.  I see 0.1194/GH/s at the second.  I don't think I'm buying into that today.  If it got near 0.08 I'm sure you would have a large volume of buying.  I believe the bots have some control over cex.io at the moment and artificially inflate the numbers.  At that point, you are just day trading. That's a whole different game but destabilizes the exchange.

IMHO

[high110]

I do not think of it as a negative thing...

here:

It will be more like this:
Difficulty increase -> miners need more GHs -> more demand in GHs -> prices go up in CEX



Not this:
Difficulty increase -> miners panic-selling -> selling GHs CHEAP -> prices go down in CEX

Let's be realistic.  Obviously, the increased difficulty and the introduction of maintenance fees means the overall value per GH has been dramatically reduced. If you will pay twice as much for half the return, I have a bridge to sell you. In reality, the value of the GH should naturally diminish over time however, it also pays a dividend. With that you can make and informed decision.  I see 0.1194/GH/s at the second.  I don't think I'm buying into that today.  If it got near 0.08 I'm sure you would have a large volume of buying.  I believe the bots have some control over cex.io at the moment and artificially inflate the numbers.  At that point, you are just day trading. That's a whole different game but destabilizes the exchange.

IMHO

Well said, I agree with your analysis  and I duly expect the 8th to be a day which GHS/BTC prices will fall.

[high110]

Largest buy order I've seen placed so far:
08:09:26
@0.11179   
1660.68216815 GHs       
185.6476595774885 BTC

Omg!!! No - diff change in only 2 or 3 days...!!!! Recover your money!!!

RagnarDanneskjold - you just made a killing - current prices are .12 BTC/GHs - sell!!!  About 14.2 BTC profit on top of your mining profit =)  Well done!!

[TooDumbForBitcoin]

I've found a new thread to be dumb in.

I'm seeing people say, "0.07BTC/GH/s" is a good buy on CEX.  That's $15.

I'm seeing 1GH/s mining $0.25 daily, max, for the next couple days, then $0.020 daily for ten days, then $$0.15 daily for ten days, etc, totalling:

25
20
15
12
9
7
5
4
3
2
1

less than $11, forever, not counting BTC future value, which I'm also not counting in the $15 purchase price.

So are the hashrate buyers on CEX betting on the mining decisions of stupid people?  Is CEX a stupidity exchange?  Great idea!

[high110]

I've found a new thread to be dumb in.

I'm seeing people say, "0.07BTC/GH/s" is a good buy on CEX.  That's $15.

I'm seeing 1GH/s mining $0.25 daily, max, for the next couple days, then $0.020 daily for ten days, then $$0.15 daily for ten days, etc, totalling:

25
20
15
12
9
7
5
4
3
2
1

less than $11, forever, not counting BTC future value, which I'm also not counting in the $15 purchase price.

So are the hashrate buyers on CEX betting on the mining decisions of stupid people?  Is CEX a stupidity exchange?  Great idea!

This market is bit crazy right now - we're now at .12 BTC/GHS - it really depends on the actual change...you are estimating it will decrease 25% every 10 days... it may or may not be the case...everyone else on Cex.io is betting that it will decrease at a slower pace.  You also have to take into consideration that Cex.io GHs are liquid...meaning it can be sold tomorrow... whereas physical miners take longer to be sold...so... ROI on CEX is more predictable.

Having said that...I will not pay .12 BTC for a GHS...for me that price point doesn't make sense..I'm holding back and seeing where it goes.

[mobile]

Could somebody share a link to a stratum difficulty calculator or a formula? I decided to point my miners to ghash.io and am getting a ton of "stratum requesting new work". I am running only 2.6GH/s with the minimum difficulty set on 16, which is the default to my understanding. I previously was mining on eliguis & do not recall getting so many "new work" requests. Cheers...

Simple formula is : GH/s  /  1.4

Read here : https://bitcointalk.org/index.php?topic=274023.0

Thank you kindly Sir...

edit**Im still getting a ton of requesting new work but perhaps either A)its nothing to worry about or B)lack of knowledge with stratum & pool mining in general.

You are mining on a nearly 1Ph/s pool. There are going to be blocks found rather rapidly.  Every time a new block is detected on the network you will see a flushwork so as to minimize stale or rejected shares.  This is normal behavior.

Yes, the round time for a block is more frequent then previously experienced. In general,the thought of the entire Bitcoin network's computational power right now is mind boggling. Your response reinforced some enlightening points I hit in a leisure reading, shedding more light on various concepts. Thanks for your response.

edit**cleaned up a run on sentence in the comfort of my home

[uk1]

The mining reward for blocks 267211 and 267166 had been credited twice due to error, so we rolled it back and credited again correctly. Sorry for the inconvenience caused.
https://www.ghash.io/

[Icon]

Well if you want any outside mining to come in the private pool, you REALLY need to lower the Diff from 512 , it took 8 mins to submitted 1 share , what happens if block is found in that 8 min window ..

[androsyn]

after the brightest morning with GHS to 0.145 , now it's falling as predicted. With some walls left behind. Let's wait and see

[high110]

after the brightest morning with GHS to 0.145 , now it's falling as predicted. With some walls left behind. Let's wait and see

I'm wonder if the increase in bitcoin value explains the increase in GHS - .145...is just insane... that's more expensive than buying machines off ebay.

[androsyn]

after the brightest morning with GHS to 0.145 , now it's falling as predicted. With some walls left behind. Let's wait and see

I'm wonder if the increase in bitcoin value explains the increase in GHS - .145...is just insane... that's more expensive than buying machines off ebay.

4me too soon to explain, let's wait few hours...could be last shake before falling back to proper ranks

[CEX]

Hey CEX.IO users,
We've developed a new page with the maintenance fee properly explained.

Check it out here: https://cex.io/maintenance

Please keep in mind that the maintenance fee is only applied to the GHS, which were purchased on CEX.IO.
The fee is not applied to personal mining hardware

In case of any questions - shoot me an email to support@cexio.zendesk.com.

[fractal02]

Here we go !

Panic selling ! Sell ! sell !!!

Price jump.

[high110]

Wow - we hit .09 BTC/GHS.

[RagnarDanneskjold]

Even having made a number of butter finger trades - I'm still up 2.25btc($500) after about 5 days (initial investment 9 btc).  Haven't made any particularly great or big trades - just hopping back and forth as the market depth shifts.  Assuming the exchange is still alive in another week, I  am comfortable tripling my initial 9 - at that rate, I will be A LOT closer to profitability with mining alone.  

Really wish I had signed up w/ someone's referral link - sorry guys, didn't know I was going to fall in love - found cex in my spam folder ...for my e-mail leaked by MtGox breach in 2010.  That has to be one seriously valuable spam list - lots of 'old money' BTC to be had there.

Speaking further to the aforementioned CEX Effect:

- I cannot overstate the [perceived or actual] advantage of having your mining rewards accumulate while you leave those GHs sitting at your high sell price.

-Also, the ability to instantly divest mining profit to increase your mining power whilst adding to bitcoin network stability without all the messy, whiney, sweaty equipment.  After about a year of whizzing fans polluting my soundspace, its kinda nice letting someone else babysit the hardware for a while.  

-Why GHs loves .1 and BTC loves $200? Round integer convenience - 10GHs for 1BTC / 1000 CNY / 200USD.  Psychological resistance (especially around currency conversion factors) can overcome larger market forces.

Also, working on pulling my trade history together - would like to see some export options in the future.