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

[minter12345]

Hi,

I am new to cloudmining and wanted to buy 1000GHS at CEX IO, but I bought nearly 11GHS to test if it is something for me.
But I am wondering why are the fees so extremely high!? With 11GHS I get +- 1700 Satoshi's for every found block, but when I see the fees, it make me think......
Some times the fee is very low, like 70 Satoshi's, but I also pay fees that go over 2000 Satoshi, while I only get rewarded with 1700 Satoshi per found block.

https://cex.io/maintenance

Its nearly 30% of mining profit.  Which is crazy high right now.

[twentyseventy]

Hi guys, just wanted to stop by this thread to let you know about a Derivative product I run called BDD - the Bitcoin Difficulty Derivative.

One of its components, B.MINE, acts as a 5GH/s miner and makes daily payouts based on about what a 5GH/s miner would mine in a day. You can trade it just like a stock on the exchange, just like CEX.io. However, there are no other fees because the shares are backed by formula, not actual hardware. This means no variance and no electricity bills 

Currently, CEX.io runs at about .0094 BTC for 1GH/s; B.MINE runs at about .00572 BTC per GH/s (about 40% cheaper per GH/s!) - B.MINE is sold in 5GH/s shares, however.

I've never really mentioned or 'promoted' B.MINE outside of the Securities subforum, partially because it's part of a larger set of Securities that are all linked together. B.SELL, which is B.MINE's counterpart, actually allows people to bet that B.MINE is overvalued on the market. I highly recommend reading up on BDD if you do consider purchasing any shares, as there are some key differences between BDD and CEX.io.

So, thanks for reading - if you have any questions please feel free to stop by the BDD Thread or shoot me a PM.

Happy trading-

[1Referee]

Hi,

I am new to cloudmining and wanted to buy 1000GHS at CEX IO, but I bought nearly 11GHS to test if it is something for me.
But I am wondering why are the fees so extremely high!? With 11GHS I get +- 1700 Satoshi's for every found block, but when I see the fees, it make me think......
Some times the fee is very low, like 70 Satoshi's, but I also pay fees that go over 2000 Satoshi, while I only get rewarded with 1700 Satoshi per found block.

https://cex.io/maintenance

Its nearly 30% of mining profit.  Which is crazy high right now.

30% is very high indeed! I'm keeping an eye on this for a few more days, but I think I will not invest more BTC in CEX with such high fees.
A more reasonable fee would be in the range of max 10%

[Icon]

Hi,

I am new to cloudmining and wanted to buy 1000GHS at CEX IO, but I bought nearly 11GHS to test if it is something for me.
But I am wondering why are the fees so extremely high!? With 11GHS I get +- 1700 Satoshi's for every found block, but when I see the fees, it make me think......
Some times the fee is very low, like 70 Satoshi's, but I also pay fees that go over 2000 Satoshi, while I only get rewarded with 1700 Satoshi per found block.

The reason is once an hour you are charged the 30% maintenance fee and during that hour if you find a block you are charged partial fee on that block, that's why its lower then the hourly fee is. Problem is what happens if you don't find a block during the hour? Not to worry they'll still debt the 30% fee no matter what, got to love those red boxes with no withdraw address next to them.

Icon


PS

Oh and if you don't have the btc to pay the fee they'll just put your balance in the negative.


PPS

On a side note is it safe to assume that the 30% fee is like 30% of gh/s being removed?, So basically you pay say 500 gh/s to mine then times .3 to the 500 and get 150 gh/s removed for the fee and use the 350 gh/s left to calculate the profit you'll make?

Someone correct me if i am wrong..

[elasticband]

cex want 100% fee so they can't start removing GH from accounts and back into their own hands

[1Referee]

cex want 100% fee so they can't start removing GH from accounts and back into their own hands

In my case, on 3 blocks today that were found they charged me more than 100% fee, other blocks made me some satoshi's

[IYFTech]

Soooo.......I see cex are still up to their con-tricks. Lots of happy customers here.......not 

Didn't any of you get tired of being ripped off yet?

[cathoderay]

Wow i like the new video from there mining equipment  
https://www.youtube.com/watch?v=bOO0bPaZo9A

Did you upload this video? If yes, you are a bad person! This operation as seen in the video obviously is not part of CEX.IO...

The original video is from Joshv06: https://www.youtube.com/watch?v=wFuTeDWXiLw&feature=gp-n-y / https://bitcointalk.org/index.php?topic=575312.0

Stealing videos is not nice!

One of the many cex shills on here........

Still no answers or explanations from cex to it's users questions then I see.......as usual 

[1Referee]

I understand more how it works this cloudmining service that CEX offer, the longer it takes for Ghash.IO to find a block, the higher the fee is that you have to pay.
Finding a fast block = low fees, of course. But still, 30% average fee is still way too high. It should be max 10%!

2 days mining with nearly 11GHS made me BTC0.001 at CEX. I have sold the GHS as it will drop in price when the next difficulty will be enabled.

[ajw7989]

I would recommend staying away from CEX now that there is a trading fee as well as a 30% maintenance fee. If the price per gh was at market value I might consider it but being above the value is ridiculous

[Icon]

Wow , that's all i can say wow, what a  complete waste, tell me what pros if any can anyone get that blew btc on FHA?

Seeing that the current ghs/btc is at .0086x btc and the FHA is up to .0082x btc?

The thing is the price staid over .01xx for like 2 months but 2 weeks out "someone" dropped the price on the ghs/btc . I think cex didn't want anyone to make any profit at ALL.

What a complete fail...

Icon


PS

.. and still got 4 days left on price dropping..

[leow]

... I think cex didn't want anyone to make any profit at ALL.

and you thought otherwise?

[byt411]

I would recommend staying away from CEX now that there is a trading fee as well as a 30% maintenance fee. If the price per gh was at market value I might consider it but being above the value is ridiculous

You forgot the 'commission' (aka withdraw) fee which is 0.001BTC. Which is also applied even if you point your own miners at GHash.io. 0% fee my arse.
0.01BTC (auto payout) - 0.001BTC 'commission' fee = 10%.


Tell me again how the pool is 0% fee...

Change it to LTC and then withdraw.... lol.
And you aren't forced to use auto payout, you can cashout when you have 1BTC... LOL.

[OhMyCoin]

I would recommend staying away from CEX now that there is a trading fee as well as a 30% maintenance fee. If the price per gh was at market value I might consider it but being above the value is ridiculous

You forgot the 'commission' (aka withdraw) fee which is 0.001BTC. Which is also applied even if you point your own miners at GHash.io. 0% fee my arse.
0.01BTC (auto payout) - 0.001BTC 'commission' fee = 10%.


Tell me again how the pool is 0% fee...

Autowithdrawal which is executed once a day is 0% commission.
The 0.01 BTC is the withdrawal threshold. It means you need to have more than 0.01 BTC on your balance to request an autowithdrawal.

[ajw7989]

The point is they need to update their site and mention about the trade fees. The market value of btc is adjusting accordingly and crashing. Their maintenance fee is too crazy so maybe they no longer care if the price is more along market value since they get trade fees and 30% of all hash power they gave out. The only way i would even consider cex a good buy is if it drops to the market value of .006ish by the end of the month

[Icon]

I had that happen when i was on ipad, but when i got on my pc worked fine had 4.5 btc to get out of there..

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[pyromaniac]

Purchase of FHM and FHA shares of this company is very disadvantageous because their price is constantly falling. Today you buy it for 0.004 after 2-3 months you'll sell it only for 0.001 or cheaper, because of difficulty growth. So, what the point?

[dyask]

Purchase of FHM and FHA shares of this company is very disadvantageous because their price is constantly falling. Today you buy it for 0.004 after 2-3 months you'll sell it only for 0.001 or cheaper, because of difficulty growth. So, what the point?

CEX.io gets the btc much earlier ... just like prepaying for hardware.   Who wins?  CEX.io!!!

Did you get the point?  

[cloudminingreport]

CEX.IO is featured on our bitcoin cloud mining review site at: http://cloudminingreport.com

Here is our full CEX.IO review

[dyask]

CEX.IO is featured on our bitcoin cloud mining review site at: http://cloudminingreport.com

Here is our full CEX.IO review

You didn't talk about the fees at CEX.IO which are now sometimes greater than the mining awards.