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Author Topic: ROFL, cex.io maintenance fee is up to 30%  (Read 1069 times)
skooter
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April 27, 2014, 02:14:58 AM
 #1

https://cex.io/maintenance

And it keeps going up faster and faster.
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activebiz
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April 27, 2014, 06:36:42 AM
 #2

I didnt know cex.io has a fee, does this apply to newly bought contracts

skooter
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April 27, 2014, 06:50:20 AM
 #3

I didnt know cex.io has a fee, does this apply to newly bought contracts

They always did.

To pay for electricity/hosting etc.

See, it used to be like 3%, which is insignificant, but now that the difficulty skyrocketed, the fee as a % of mining profits (since mining profits are way down) has skyrocketed as well.
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April 27, 2014, 06:53:27 AM
 #4

They also have bitcoin withdrawal fees.Fee is fixed. If you withdraw small amount fee is huge percentage.

gagalady
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April 27, 2014, 06:55:28 AM
 #5

What is the reason for maintenance fee to increase so often? Is it only because of difficulty? And also Is it true that difficulty increaes about 20% each time?
dharmapuriharithaa
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April 27, 2014, 08:14:35 AM
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There are many factors for fee increase, difficulty is one factor.

skooter
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April 27, 2014, 08:42:48 AM
 #7

The fees haven't gone up.

The mining reward per GH has gone down a lot.

So the same fees as a % of the mining reward has gone up.

Eg.

Before you had $3 in fees, and had $100 in bitcoins mined

Now you'll have $3 in fees, and $10 in bitcoins mined w/ the same GH.
Nerazzura
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April 27, 2014, 08:51:05 AM
 #8

where did you find this?
30% fee is huge
i only know their fee is 18%  Huh
harkonnen
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April 27, 2014, 08:52:36 AM
 #9

What is the reason for maintenance fee to increase so often? Is it only because of difficulty? And also Is it true that difficulty increaes about 20% each time?

It is also due to bitcoin price dropping.
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April 27, 2014, 09:06:29 AM
 #10

The fees haven't gone up.

The mining reward per GH has gone down a lot.

So the same fees as a % of the mining reward has gone up.

Eg.

Before you had $3 in fees, and had $100 in bitcoins mined

Now you'll have $3 in fees, and $10 in bitcoins mined w/ the same GH.

That is right, the lower the reward is, the higher the fee will be. They don't have to do anything, it happens automatically  Grin
greenlion
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April 27, 2014, 09:22:11 AM
 #11

The interpretation here and on cex.io's page that the maintenance fee is in some way dependent on difficulty is complete and utter nonsense. Their cost is based on GH/s, and the cost to run and maintain any given amount of GH/s in Bitcoin is ONLY dependent on the BTC/USD exchange rate and nothing else.
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May 17, 2014, 07:59:54 AM
 #12

So based on the evidence, is it actually worth mining with cex, especially at lower levels due to maintenance fees creating negative results, would there be somewhere more profitable to invest in GHS?

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May 18, 2014, 11:12:48 AM
 #13

LOL it was already unprofitable buying contracts from them but this is just ridiculous Cheesy
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