Cex.io Fallout

[youbob]

Has Anyone look at the current prices of GHS/BTC on the website cex.io? There is a huge fall!! When I first started to play with this site the price of 1 GHS was around 0.043 btc, and it would usually go up as high as 0.05. I spent 0.03 btc for the price of .043 GHS/BTc. I started out at  0.735 GHS, and with just a little bit of pump and dumps plus very small earning, I mange to gain 1.7 GHS.

There's nothing crazy of what I'm doing here. I just mine for fun, and I needed a place to where I could mine without abusing my computer, or running up the electric bill. Cloud hashing is a great option for those who don't want to spend thousands on equipment, and the price for all of the keep ups.

Now things have taken a huge drive! Within a few short weeks the exchange site went form 0.048.... to now going into the 0.02x

Normally, I would try to sell my ghs at the price 0.045 to 0.048, and buy it cheap when ever the price would fall down below 0.043. However, with the low prices any to all of my earning are sold into ghs, because it so cheap. I'm getting back 0.009 ghs every day.

Anyhow, that's how I run. Thanks to BTC faucets, I didn't pay for anything!

So why are the prices falling such?

Anyone want to add their 2cents?     

[nachius]

Complete outage yesterday
Diff Change looming
THs+ miners coming soon to both CEX and end users
Panic

There you have it!

[youbob]

Complete outage yesterday
Diff Change looming
THs+ miners coming soon to both CEX and end users
Panic

There you have it!

Wow.. Well when they come the prices should go up by a few points and crash once the diff goes up again?

[mediaspree]

So its a good time to buy??

[topminingcontracts]

So its a good time to buy??

At current prices www.epickaxe.com

TMC

[youbob]

So its a good time to buy??

Yeah. It's cheap now. 0.029 is the setting price right at this very moment of me posting this. It still might go way lower, I would buy a little bit at a time.

[BitChrisUK]

So its a good time to buy??

At current prices www.epickaxe.com

TMC

Expensive - 100ghs for example works out at ~$22 per ghs on a year contract. By Comparison, CEX is at ~$30 per cex but for a lifetime(ish). But during that lifetime you have the option to sell it.

This is the benefit of hardware, high upfront cost, but resale value also remains high, reducing the overall cost per ghs.

[aceking]

cex.io is overpriced ,  you spend 1 bitcoin to mine 0.60 btc , the price per gh/s will collapse when newcomers lose their appetite.

[mrdeposit]

I expect the price to drop to already BTC0.021-0.025 before the day ends. I already set my buy price at BTC0.021

[krampus]

So why are the prices falling such?

Math.

[topminingcontracts]

Well math is math I know.

But Cex is the largest player in his marketplace, they have many ways to manipulate the price. Not all the market rules apply at least for short periods of time.

Regards

TMC

[dottom]

At current prices www.epickaxe.com

Not when they are consistently more expensive than cex.io.  I just don't get these other cloud mining outfits advertising contract mining that is more than what you can get at cex.io.

While cex.io is still a losing mining proposition, you can at least exit your position at any time or quickly sell off your ghash to someone else if you want to exchange fiat for ghash.

[DrG]

People buy the contracts for short term mining alt coins in the hopes they get higher pay rates than if they mined BTC.  CEX only mines the main SHA-256 BTC with the ancillary coins.

[topminingcontracts]

I expect the price to drop to already BTC0.021-0.025 before the day ends. I already set my buy price at BTC0.021

Is not so low... because as I told you they manipulate the price.

[PatMan]

cex is 100% manipulated - forget math - it's irrelevant.

[mrdeposit]

I expect the price to drop to already BTC0.021-0.025 before the day ends. I already set my buy price at BTC0.021

Is not so low... because as I told you they manipulate the price.

Yeah, I see it didn't even fall under BTC0.025. Somehow it rallied back up a bit.

[Sonny]

I expect the price to drop to already BTC0.021-0.025 before the day ends. I already set my buy price at BTC0.021

Is not so low... because as I told you they manipulate the price.

Yeah, I see it didn't even fall under BTC0.025. Somehow it rallied back up a bit.

Either the users don't care about mining profitability, or the price is really manipulated....

[elavenil]

Anyone made money using cex? I am interested in cloud mining. But the price are higher than profit.

[malace]

I think CEX is OK for short time i been doing it i think if you use them it need before a few months at least to see any profit if any not 100% sure yet. With bit coin crash over last few days kinda hard to tell.

[krampus]

Anyone made money using cex? I am interested in cloud mining. But the price are higher than profit.

The only way to profit on cex.io is trading. The idea that it is a mining venture is pretty much a bald-faced lie. It's about day trading.

If you're into that sort of thing and have the skills, then go for it. But the trend in price is down.

You have been warned.