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Author Topic: Brilliant Commodity Trading with CEX.io (REVIEW)  (Read 12118 times)
strideynet
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October 30, 2013, 10:35:47 AM
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I registered for this site quite recently as the next move in my investment spree. I liked the idea. The site enables you to buy Indefinite mining contracts and Bitfury chips. The mining power has two money making paths,1, it mines on ghash.io and then when the value rises of the hash you can sell it on. The price for 1 gigahash last stood at BTC0.1075. I feel the site is unique and has a nice feel with a sleek interface. The deposit only requires 3 confirmations so is quick to join and start trading. The partnered Ghash.IO site is PPLNS and has had good luck recently.

It also has a handy JSON API and the ability to trade your Gigahash in for a physical miner. This site is a the perfect investment to start on or build your portfolio with.

It gets 4 Stars from me as the perfect choice.
If you fancy joining, help me with the Referral program.
https://cex.io/r/1/Strideynet/0/
It costs you nothing and gives me a small bonus!
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Rannasha
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October 30, 2013, 10:43:45 AM
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This is just a rehash (pun intended) of the "perpetual mining bond" concept, that has been traded in various locations for quite some time. The payouts are more frequent that most PMBs (which pay daily or weekly), but other than that it's basically the same thing. The only relevant difference is the referral program.

And just like those other PMBs have proven in the past, the one making the actual money is the one selling.
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October 30, 2013, 10:51:33 AM
 #3

I have been using this site for a while now and its great to be able to get into mining without paying out and running hardware that depreciates in value every day. At least with cex.io you can cash out at any time, and maybe even make a profit on your hashing power.

My referral link is in my sig if you're interested

strideynet
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October 30, 2013, 11:03:25 AM
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Except its not perpetual because you don't get more hashpower as time goes on. Plus, You cant sell you hashpower back in a PMB. This is more futures style trading.
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October 30, 2013, 11:15:52 AM
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Except its not perpetual because you don't get more hashpower as time goes on. Plus, You cant sell you hashpower back in a PMB. This is more futures style trading.

Most PMBs also don't give you more hashpower as time goes on. Unlike some cloud-hashing-contracts, that last for 1-2 years, the "perpetual" part of the PMB name refers to the fact that these assets don't expire. Just like GHS bought at cex.io doesn't expire.

And you can also sell PMBs on various exchanges. Take for example TAT.VIRTUALMINE (https://bitfunder.com/asset/TAT.VIRTUALMINE). It can be bought and sold on the BitFunder platform (and previously also on BTCT before it closed). It pays the mining revenue of 1 MHash/s per share every day in dividends and the current price is around 0.1 mBTC per share, so you get 1 GHash/s for around 0.1 BTC, a price very similar to what cex.io offers.

The cex.io offering is nothing new or revolutionary.

And just like other PMBs or mining hardware, it's not going to make you a profit.
Birdy
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October 30, 2013, 11:35:04 AM
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And you can also sell PMBs on various exchanges. Take for example TAT.VIRTUALMINE (https://bitfunder.com/asset/TAT.VIRTUALMINE). It can be bought and sold on the BitFunder platform (and previously also on BTCT before it closed). It pays the mining revenue of 1 MHash/s per share every day in dividends and the current price is around 0.1 mBTC per share, so you get 1 GHash/s for around 0.1 BTC, a price very similar to what cex.io offers.

Yes and pretty much all of them were (and still are) too expensive to be worth it.
The only people that made money are the winners of the "hot potato game" those shares are.

TL;DR: bad investment choice
bigb159
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October 30, 2013, 12:28:40 PM
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I have been using this site for a while now and its great to be able to get into mining without paying out and running hardware that depreciates in value every day. At least with cex.io you can cash out at any time, and maybe even make a profit on your hashing power.

My referral link is in my sig if you're interested

Not only this, but it seems as though GH/s appreciates in value on cex.io lately, whereas the hardware running in my garage slowly churns itself into garbage.

Trade your Litecoin, Namecoin, Terracoin, Devcoin and IXcoin for Bitcoin: Vircurex
MPOE-PR
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October 31, 2013, 02:12:20 AM
 #8

I registered for this site quite recently as the next move in my investment spree. I liked the idea. The site enables you to buy Indefinite mining contracts and Bitfury chips. The mining power has two money making paths,1, it mines on ghash.io and then when the value rises of the hash you can sell it on. The price for 1 gigahash last stood at BTC0.1075. I feel the site is unique and has a nice feel with a sleek interface. The deposit only requires 3 confirmations so is quick to join and start trading. The partnered Ghash.IO site is PPLNS and has had good luck recently.

It also has a handy JSON API and the ability to trade your Gigahash in for a physical miner. This site is a the perfect investment to start on or build your portfolio with.

It gets 4 Stars from me as the perfect choice.
If you fancy joining, help me with the Referral program.
https://cex.io/r/1/Strideynet/0/
It costs you nothing and gives me a small bonus!

Quote
Carrying debt that you don’t have to ever repay (hey, they’re “perpetual”, right ?), but only service to the tune of rapidly diminishing returns (due to difficulty raising) is in fact the best sort of Ponzi : insane expectations on the part of the victims (who really don’t expect a majority of their capital ever being returned) allow it to extend into the eternal future. And obviously if network difficulty were to take a sudden plunge, sending the valuation for all this useless paper into the stratosphere everyone would just default, as was the case with the many “independent” funds, “banks” and whatnot borrowing at 1-2-3% to “invest” in a Ponzi scheme at 7%.

Full text.

Also, a plea for referrals doesn't constitute a "review".

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
RoadTrain
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October 31, 2013, 03:21:33 PM
 #9

Look at this before you trust them your money
https://bitcointalk.org/index.php?topic=321630.0
huryde
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November 05, 2013, 06:17:47 AM
 #10

Cex.io is the best! GHash.IO is their pool.

rhuian
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November 06, 2013, 11:55:45 PM
 #11

Look at this before you trust them your money
https://bitcointalk.org/index.php?topic=321630.0

So is that thread saying that the address behind the pool is trying to double spend unconfirmed transactions?

New BitCoin Mining Experience! No Hardware Dependence, no order chain, no strains. Trade GH/s and Futures on BitFury Chips (https://cex.io/r/0/rhuian/0/)
AJJ
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December 04, 2013, 01:46:21 AM
 #12

Don't do it! Here are my calculations to show you how much of a bad investment GHS is at cex.io you are currently set to loose about $47 for every $75 invested
https://bitcointalk.org/index.php?topic=346469.msg3713196#msg3713196

If you have found this useful please consider donating 1Muj6adZViZ6nGWgT3bM3PUbGK3pK4Kx78
kickbit
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January 08, 2014, 11:17:40 AM
 #13

Look at this before you trust them your money
https://bitcointalk.org/index.php?topic=321630.0

So is that thread saying that the address behind the pool is trying to double spend unconfirmed transactions?

This story is too old. And they have answered on it many times.

I'm cex.io user. And this is my story: https://bitcointalk.org/index.php?topic=378439.0

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