[Not] Good price at CEX.io

[balanghai]

they're going to implement a .001 maintenance fee per hour - sighs...I'm pulling out guys.  I was so excited about it a few days ago...can't believe it's over already =(

read here: https://www.cex.io/faq

FAQ number 3. 

Hey read it again. It says $0.001 not BTC man it's in dollars. And it's way cheaper than the electricity hosting at home!!

[chalidore]

Even if priced in dollars, an hourly fee is insane. If I have 500 gh mining, the fee is $12 per day. With the difficulty increase, this move will dramatically reduce chance of hitting ROI. I could score some gear on ebay for about the same dollar to gh ratio as the going rate on cex.io, and just set up the gear somewhere with free electricity. (work, college, hotel room, etc)
When you look at all the mining options available, cex.io is overpriced. When you factor in the new fees starting in a few days, it gets even worse.

[evansearle42]

they're going to implement a .001 maintenance fee per hour - sighs...I'm pulling out guys.  I was so excited about it a few days ago...can't believe it's over already =(

read here: https://www.cex.io/faq

FAQ number 3. 

Hey read it again. It says $0.001 not BTC man it's in dollars. And it's way cheaper than the electricity hosting at home!!

Oh no, it was free previously....

[DanielBTC]

Is there anything wrong with GHash.io?
Almost 6 hours without any block mined.
Invalid blocks in the 'mined' list..

[Novalok]

.001 cents per Ghash isn't horrible ATM, but it will be worse when difficulty rises.

[Rannasha]

not sure I understand this - can I short the contracts?  If I do and withdraw the BTC how would they chase me for the bitcoin I would need to pay to the buyer of the contract? If I can't short the contracts, why not? Take away that facility and it is not a real market.
Isn't this just a prettier way of selling one of those nefarious perpetual mining bonds - the value of which only decreases over time?

There is no way to short these contracts, unless you are the issuer.

And you are completely correct in saying that this is just another perpetual mining bond. I have no idea why this construct is suddenly so popular when it doesn't offer anything of value that hordes of previously launched PMBs don't. I guess it's the referral-bonus that turns people into walking advertisement boards.

In any case, these things aren't going to make the 'investor' any money at their current price, except if you get lucky with daytrading them. With the price at its current levels, cex.io can just slowly release more and more units (taking care not to crash the price) and rake in the profits. And if they ever drop in price enough to become profitable, cex.io can just buy them back gradually on the market.

A PMB that can't be shorted is a money-making-machine for one entity only: The issuer.

[cowandtea]

not sure I understand this - can I short the contracts?  If I do and withdraw the BTC how would they chase me for the bitcoin I would need to pay to the buyer of the contract? If I can't short the contracts, why not? Take away that facility and it is not a real market.
Isn't this just a prettier way of selling one of those nefarious perpetual mining bonds - the value of which only decreases over time?

There is no way to short these contracts, unless you are the issuer.

And you are completely correct in saying that this is just another perpetual mining bond. I have no idea why this construct is suddenly so popular when it doesn't offer anything of value that hordes of previously launched PMBs don't. I guess it's the referral-bonus that turns people into walking advertisement boards.

In any case, these things aren't going to make the 'investor' any money at their current price, except if you get lucky with daytrading them. With the price at its current levels, cex.io can just slowly release more and more units (taking care not to crash the price) and rake in the profits. And if they ever drop in price enough to become profitable, cex.io can just buy them back gradually on the market.

A PMB that can't be shorted is a money-making-machine for one entity only: The issuer.

CEX is just another middle man that want profits for themselves too. Guess its still cheaper to buy ASIC directly...

[johncarpe64]

.001 cents per Ghash isn't horrible ATM, but it will be worse when difficulty rises.

Yup, it just sucks. Always though its free that's why most people buy GH/s..

[trumbadera]

Hey read it again. It says $0.001 not BTC man it's in dollars. And it's way cheaper than the electricity hosting at home!!

It is more than you would pay home, unless you have ineffective Avalon or BFL.

[mobile]

So wait if maintenance fee is $0.001 per gigahash hour does that mean if you own 2GHS your getting charged $0.002 per hour? Or is that a flat rate. Perhaps I should pop over to the official thread because at current market prices, $0.001 is equal to 0.000004946BTC Not a massive loss of mining revenue but i guess it adds up. Still a sic service, I might add...

[Novalok]

Looks like the price might hit .11 today...

Insider Tip:
Buy Late at night. Prices are the lowest, and Sell at Noon When prices peak... All times referenced are CST

[absinth]

they're going to implement a .001 maintenance fee per hour - sighs...I'm pulling out guys.  I was so excited about it a few days ago...can't believe it's over already =(

read here: https://www.cex.io/faq

FAQ number 3.  

Hey read it again. It says $0.001 not BTC man it's in dollars. And it's way cheaper than the electricity hosting at home!!

Eh?  "the approximate cost will be $0.001 per GHS / hour."

If you had 180 GHS that's 180 x 0.001 = 0.18 an hour. That's $4.32 a day or around $130 a month. If the GHS were in BFL asics you could host that yourself at home for about $45 a month at 0.09 KWH. For bitfury asics it should be a lot less. I'm kind of tired here so someone feel free to jump in and correct me if I'm wrong.

[chalidore]

The implementation of the fee, combined with the rising price of bitcoin, is probably gonna knock cex to the ground. Everyone will try to get out at once. A lot of people are gonna get hurt. This will happen in the next week or two.

[zvs]

SHORT SELL THAT PRICE ASAP

[high110]

Thanks for the clarification - $.001 isn't as bad as BTC...but I got out already...going to wait it out and see how people react to the fee introduction.  I suspect it should fall anyways...

I think 130 a month for energy is way too much...might as well mine at home.  Cost right now is about 1/day for me at 100 GHS...so it really doesn't make sense...they will have to decrease their fee system...

Thanks for the trading tip - will try and buy some at midnight and get out at noon.

[HellDiverUK]

I sold some of my GH, made 100% profit in a week.  Still got some GH mining away.

[s1lverbox]

I sold some of my GH, made 100% profit in a week.  Still got some GH mining away.

I bought 32.7 but got extra 17Gh for referring people. Plus my blade is aiming in to ghash.io so at this moment hashing with 70Gh which 17Gh are free.
Already made 0.50btc profit withing a week.
I know its not a lot but at least something happening better than most hardware and losses of poor people who preorder BFL and other scams.

[GhanaGamboy]

I sold some of my GH, made 100% profit in a week.  Still got some GH mining away.

I bought 32.7 but got extra 17Gh for referring people. Plus my blade is aiming in to ghash.io so at this moment hashing with 70Gh which 17Gh are free.
Already made 0.50btc profit withing a week.
I know its not a lot but at least something happening better than most hardware and losses of poor people who preorder BFL and other scams.

Nice to see profit can be made.

I dont know if you can count the free Gh for reffering in profit calculation though

[s1lverbox]

I sold some of my GH, made 100% profit in a week.  Still got some GH mining away.

I bought 32.7 but got extra 17Gh for referring people. Plus my blade is aiming in to ghash.io so at this moment hashing with 70Gh which 17Gh are free.
Already made 0.50btc profit withing a week.
I know its not a lot but at least something happening better than most hardware and losses of poor people who preorder BFL and other scams.

Nice to see profit can be made.

I dont know if you can count the free Gh for reffering in profit calculation though

At this moment im happy that 0.50BTc is mine. If price per Gh will drop i will loose as well.
But for now is ok.

[BitcoinHeroes]

I sold some of my GH, made 100% profit in a week.  Still got some GH mining away.

I bought 32.7 but got extra 17Gh for referring people. Plus my blade is aiming in to ghash.io so at this moment hashing with 70Gh which 17Gh are free.
Already made 0.50btc profit withing a week.
I know its not a lot but at least something happening better than most hardware and losses of poor people who preorder BFL and other scams.

Nice, I'm still waiting for the price to drop and I have 0 referral