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Author Topic: Do you think price per Gh will drop once CEX.io will announce fees?  (Read 2797 times)
s1lverbox
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October 30, 2013, 04:22:16 PM
#1

Do you think that cex will loose customers by adding fees or people will stay with Gh in hand and will pay per hour?
I did sold mine Gh and at this moment only 17Gh from referral program mining for me.
Perhaps i should wait till price per Gh droped but what you think would be the best rate to buy back again this?

Please only serious answers.

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October 30, 2013, 04:48:51 PM
#2

I'm sure they will lose a few customers, but more likely ones that cannot invest a decent amount of BTC to make it worth their time.  That will level out later, though their fees are pretty crazy expensive.  As for the price per GH/s, it has obviously gone up for no good reason other than the fee charge.  Personally I am waiting for the price to drop, it is far to high right now. Id like to see it drop to the .08-.09 range, though it did drop as much as .07 a few weeks ago so who knows for sure.  I am curious to read others responses that have been involved with cex for sometime now.

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October 30, 2013, 04:54:25 PM
#3

I think there is a market manipulation. Nothing justify that price. I'm just trading at the moment.

About the fee.. is it 0.001USD/ghs or 0.001btc/ghs?
In the cex.io the '$' symbol was used instead of BTC.

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s1lverbox
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October 30, 2013, 04:57:32 PM
#4

I made profit thanks to 17Gh from referral. I got profit of 0.56BTC, and i done that within 2 weeks.
Today i sold my Gh and will wait, at this moment im on BTC-e and make some deals with ppc.
Plus the BTC which i made im exchangin for silver bullion to ressel.

I will come back to cex but for now its to much. I already lost shit loads of cash in useless hardware from BFL and other scams.

s1lverbox
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October 30, 2013, 04:58:57 PM
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I think there is a market manipulation. Nothing justify that price. I'm just trading at the moment.

About the fee.. is it 0.001USD/ghs or 0.001btc/ghs?
In the cex.io the '$' symbol was used instead of BTC.

But i think they will charge 0.001usd per hour per Gh

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October 30, 2013, 05:01:44 PM
#6

I think you're right, it has to be manipulation. I just cannot see how/why the price would jump like that.

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October 30, 2013, 05:47:08 PM
#7

Prices have to drop. It's not a reasonable purchase @ > 0.1 BTC/GHS
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October 30, 2013, 06:10:21 PM
#8

You can actually get a better dollar to gh ratio buying gear on ebay right now. If you are paying more than $10 (.05 BTC) per gh right now, you are getting ripped off.
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October 31, 2013, 05:23:13 AM
#9

I was surprised to see it climb back up to > 0.1 - I had a buy order at ~0.096 for my bought GH/s and for some reason they didn't sell. Lucky for me I made 'just' that little bit extra as profit.

When is cex.io planning on charging fees again?

s1lverbox
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October 31, 2013, 08:41:32 AM
#10

I was surprised to see it climb back up to > 0.1 - I had a buy order at ~0.096 for my bought GH/s and for some reason they didn't sell. Lucky for me I made 'just' that little bit extra as profit.

When is cex.io planning on charging fees again?
They will charge fee from 1.11.13

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October 31, 2013, 11:09:27 AM
#11

I don't understand why the fees are calculated in US dollars & not BTC. Me & 100's of other users don't use USD & never will - surely the easiest way to calculate the fees is in BTC - as that's the currency we are all dealing with, instead of a currency many users don't use.
Also, it would be nice to hear some kind of figure of what the fee will actually be today - seeing as we are gonna have to start paying it tomorrow (or not, depending on if they lower it to a more reasonable amount or not).

I think there might be a huge sell-off when the fee starts though......me included  Wink

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October 31, 2013, 11:11:34 AM
#12

Do you think that cex will loose customers by adding fees or people will stay with Gh in hand and will pay per hour?
I did sold mine Gh and at this moment only 17Gh from referral program mining for me.
Perhaps i should wait till price per Gh droped but what you think would be the best rate to buy back again this?

Please only serious answers.

I assume the price would drop at least 20%....... Aiming to buy at about 0.05

s1lverbox
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October 31, 2013, 11:17:29 AM
#13

if my math is right cex has 820Th which is 820.000gh x 0.001 x 24h= 19.68usd a day? is this correct? only 20 bucks a day from all that hashpower?

Dexter770221
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October 31, 2013, 12:57:50 PM
#14

if my math is right cex has 820Th which is 820.000gh x 0.001 x 24h= 19.68usd a day? is this correct? only 20 bucks a day from all that hashpower?
It's 19.680$, but this hashpower mainly comes from miners that put theirs hashing power to the pool. I doubt that they run more than 200TH in their datacenter.

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October 31, 2013, 02:09:11 PM
#15

Yes and it should drop hard.. very hard..

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s1lverbox
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October 31, 2013, 04:51:03 PM
#16

if my math is right cex has 820Th which is 820.000gh x 0.001 x 24h= 19.68usd a day? is this correct? only 20 bucks a day from all that hashpower?
It's 19.680$, but this hashpower mainly comes from miners that put theirs hashing power to the pool. I doubt that they run more than 200TH in their datacenter.

yeah u right, I munched one zero at the end.

Puppet
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October 31, 2013, 04:56:29 PM
#17

How could prices ever be reasonable on cex.io? They are offering hashrate from bitfury, why would bitfury sell it below what they think its worth, when whatever they dont sell is just hashing for themselves? Makes no sense to me. Just another way to separate suckers from their bitcoins.
bitcoiner49er
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October 31, 2013, 05:03:17 PM
#18

The biggest thing to remember is that you don't "lose" your hashpower when you buy. If you intend to buy a "X"GH/s and hold it forever, then yes it's overpriced and won't break even. If you are looking to buy GH/s, mine with it for a period of time and then sell it "bacK", then it's a whole different game. As long as price stayed the same as when you buy vs sell, it doesn't matter what that price is and it's not representative of what a miner can produce and stay even. It's more about the service of renting the hashpower and being able to sell it once you are done. So to that end people are feeling it's worth ~.1BTC/GHs right now.

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xtonn
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November 01, 2013, 04:18:09 PM
#19

Official announcement about the fee...

https://twitter.com/cex_io/status/396262937922646016

"The estimated fee is 0.000000002695 BTC/share, which makes it ~4% of total mining profit."
(from https://cexio.zendesk.com/entries/28208413-Official-statement-about-the-maintenance-fee)

4% of profit...close to some pool fees, except they're actually charging in USD and then converting to BTC so it will vary based on the exchange rate.

Trading at almost 0.108 per ghash - looks like the news has not gotten out very far.
rocks
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November 01, 2013, 11:04:11 PM
#20

The biggest thing to remember is that you don't "lose" your hashpower when you buy. If you intend to buy a "X"GH/s and hold it forever, then yes it's overpriced and won't break even. If you are looking to buy GH/s, mine with it for a period of time and then sell it "bacK", then it's a whole different game. As long as price stayed the same as when you buy vs sell, it doesn't matter what that price is and it's not representative of what a miner can produce and stay even. It's more about the service of renting the hashpower and being able to sell it once you are done. So to that end people are feeling it's worth ~.1BTC/GHs right now.

That's simply the greater fool argument and will end badly for those left holding the bag.

The ROI analysis I came up with (assuming current BTC/$ prices and hash rate growth) put the mining value of 1Gh/s at around 0.05 BTC. Anything more than that is overpaying for the underlying asset and you are simply hoping someone else will buy your Gh/s at an overvalued price from you in the future.
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