Who Here Uses CEX.IO

[youbob]

Greetings,
Just a question that floated on my mind tonight, but I was wondering who here uses Cex.io? I have been with the cloud hash mining site for about a few months. I treat mining for bitcoins kind of like a hobby, or a game. My every few weeks to see how much more bitcoins I can earn and generate. I start out with those .333 ghz usb block erupter. I bought 5 of them for about 15 bucks brand new in early January 2014. I set my computer on to mine for bitcoin until I reached around 0.01 btc. Then I combine that amount another 0.03 btc gain form using faucets.

I stop using the block erupter, because of the very low rate of income(wasn't hoping for hundreds of dollars) and mostly, because they ran very hot, and my computer eats ups a lot of juice as well,I think people should be mining for bitcoin, and it needs to be mined in order for it to stay alive, but I personally thing Cex.io was a good choice for me to start mining because of the fact I don't pay a huge electric bill nor do I risk burning down my house form a failed erupter.  I switch over to cloud hashing so that I could mine 24/7 without paying for a lot of money. The rate during the time that I join was about 0.4 btc of 1 ghs. It went up as high as 0.5 btc per ghs, then crashed down to where it is now 0.007 btc per ghs. I started out with 1.5 ghs, got tried of trying to gain more ghs through pumps and dumps, so then I just left it alone. For weeks I kept going around the hamster wheel with those bitcoin faucets, and came back to the site. I can't remember how much btc that I traded in for, but now I'm at a 9.6 ghz.

Also, there were some crazy last minute investing in what CEX had called bidding on the futures, but now they have stop using the feature. Maybe because the future prices of btc for ghs never rose more than what was being traded. So a lot of people would buy futures ghs for a cheap price, and gain more ghs at end of every month.

I think if anyone wants to use this service they should either buy some bitcoins and send it over to their btc address in cex, or use faucets.

Well sorry if this post seems to be a bit rushed, but that's all I can recall about my experiences in using CEX.io     

[BCwinning]

Greetings,
Just a question that floated on my mind tonight, but I was wondering who here uses Cex.io? I have been with the cloud hash mining site for about a few months. I treat mining for bitcoins kind of like a hobby, or a game. My every few weeks to see how much more bitcoins I can earn and generate. I start out with those .333 ghz usb block erupter. I bought 5 of them for about 15 bucks brand new in early January 2014. I set my computer on to mine for bitcoin until I reached around 0.01 btc. Then I combine that amount another 0.03 btc gain form using faucets.

I stop using the block erupter, because of the very low rate of income(wasn't hoping for hundreds of dollars) and mostly, because they ran very hot, and my computer eats ups a lot of juice as well,I think people should be mining for bitcoin, and it needs to be mined in order for it to stay alive, but I personally thing Cex.io was a good choice for me to start mining because of the fact I don't pay a huge electric bill nor do I risk burning down my house form a failed erupter.  I switch over to cloud hashing so that I could mine 24/7 without paying for a lot of money. The rate during the time that I join was about 0.4 btc of 1 ghs. It went up as high as 0.5 btc per ghs, then crashed down to where it is now 0.007 btc per ghs. I started out with 1.5 ghs, got tried of trying to gain more ghs through pumps and dumps, so then I just left it alone. For weeks I kept going around the hamster wheel with those bitcoin faucets, and came back to the site. I can't remember how much btc that I traded in for, but now I'm at a 9.6 ghz.

Also, there were some crazy last minute investing in what CEX had called bidding on the futures, but now they have stop using the feature. Maybe because the future prices of btc for ghs never rose more than what was being traded. So a lot of people would buy futures ghs for a cheap price, and gain more ghs at end of every month.

I think if anyone wants to use this service they should either buy some bitcoins and send it over to their btc address in cex, or use faucets.

Well sorry if this post seems to be a bit rushed, but that's all I can recall about my experiences in using CEX.io     

I think leaving money on cex or buying their ghs is foolish but thats just my opinion like yours of cex.

[youbob]

I think leaving money on cex or buying their ghs is foolish but thats just my opinion like yours of cex.

What site would you use for cloud mining? Or would you rather just buy and sell btc.

[BCwinning]

I think leaving money on cex or buying their ghs is foolish but thats just my opinion like yours of cex.

What site would you use for cloud mining? Or would you rather just buy and sell btc.

I haven't found a cloud mining service where you don't work for the company yet.
They all make more than you end up making in the end through fees.

[beatljuice]

I like PBMining. Could be a scam, but they payed me over half a bitcoin last night.

See link in signature.

[Colonel32]

We use CEX.io / Ghash.io
Not a great amount, 46GH/s managed, and 4.5GH/s in 2x Antminer U2's on Stratum.

It gives us a steady return to spend on our advertising. Not much, but with Btc price rising as well, it seems fair.

We have no issues with site trust, or the costs of maintaining Gh/s, these seem realistic enough to maintain this as a going concern, in fact it's the sites that offer unrealistic returns that are most likely to fail.

If a mining business doesn't cover it's running costs, and make a reasonable profit, it will fail.
If a mining business gives unrealistic returns - It probably has a bad business model and will fail.
If a mining business offers ridiculous rates of return - It probably has no mining kit, so Just don't go near it.

CEX.io and Ghash.io are realistic in their maintenance prices, and that gives us confidence.
Theres an old adage -
If you spend too much, you can often lose a little money. If you spend too little, you can often lose everything.

ViK - Project Lead, Badbitcoin.org

[guitarplinker]

I like PBMining. Could be a scam, but they payed me over half a bitcoin last night.

See link in signature.

I just checked out the site - it looks like they host their rigs in the same province that I'm located in.

Kind of interesting, I wonder if they've ever let people into their facilities to actually see that they have hardware mining. I doubt they'd let anyone do that though.

[pandit]

I just checked out the site - it looks like they host their rigs in the same province that I'm located in.

Kind of interesting, I wonder if they've ever let people into their facilities to actually see that they have hardware mining. I doubt they'd let anyone do that though.

may be you should ask to visit the facility and see their response once

[BCwinning]

We use CEX.io / Ghash.io
Not a great amount, 46GH/s managed, and 4.5GH/s in 2x Antminer U2's on Stratum.

It gives us a steady return to spend on our advertising. Not much, but with Btc price rising as well, it seems fair.

We have no issues with site trust, or the costs of maintaining Gh/s, these seem realistic enough to maintain this as a going concern, in fact it's the sites that offer unrealistic returns that are most likely to fail.

If a mining business doesn't cover it's running costs, and make a reasonable profit, it will fail.
If a mining business gives unrealistic returns - It probably has a bad business model and will fail.
If a mining business offers ridiculous rates of return - It probably has no mining kit, so Just don't go near it.

CEX.io and Ghash.io are realistic in their maintenance prices, and that gives us confidence.
Theres an old adage -
If you spend too much, you can often lose a little money. If you spend too little, you can often lose everything.

ViK - Project Lead, Badbitcoin.org

you sound like you are on their payroll. I have no qualms with a company making a profit.
THey seem to make sure you get very little of the profit if any.
But whatever makes you happy is all that matters.

[Chrithu]

Well to be honest I stopped using CEX.IO/Ghash.IO cloudhashing because their fees are VERY intransparent. They claim on the frontpage that the fees would amount to 0.26$/GH/month. But then the fee is collected with every mined block magically linked to the shares your ghash in their cloud provided for the block. In the end the fees ate 90% of the mined BTC and the actual calculation how they determine the fee per block and make sure it doesn't sum up to more than 0.26$ per GH/month was nowhere to be found. The profit I made from them I made through trading. I bought the FHM (Future Hashing contracts, they sell when they actually add more actual physical mining hardware) VERY cheap and sold with 30% profit two weeks later.

And that is about the only thing I would hold in their favor: Their cloud hashing model allows you to make profit from trading rather than actually using it for mining.

[wpgdeez]

I have been having much more consistent payouts since I moved there after over a year at BTCGUILD. Since they are so large they don't get hung up on bad blocks for as long letting you get more rounds in during a single difficulty period.

[jamesc760]

Cex is good only for insiders. If you buy their GHs, you will lose money. Guaranteed. I bought some GHS in December 2013 at 0.075 BTC/Ghs and pointed my rigs at their pool (ghash.io) and it seemed to be fine at first. Over time, GHs tanked and tanked. I got out at 0.0075 BTC/Ghs. In short, my loss was 1000%. Luckily their pool seemed to find blocks faster than other pools. I still have about 50 MHs there and split my Antminers (S1) to their pool and btcguild. I do NOT recommend anyone to buy GHs at CEX; it's a losing proposal.

[pumawolf]

to me cex is a trading site, not a true mining site. if u treat cex  like a cloudmining site  ur wallet will not be happy.

[guitarplinker]

I just checked out the site - it looks like they host their rigs in the same province that I'm located in.

Kind of interesting, I wonder if they've ever let people into their facilities to actually see that they have hardware mining. I doubt they'd let anyone do that though.

may be you should ask to visit the facility and see their response once

Their facilities aren't in my province, it turns out that only their main office is.

Still, I guess seeing a real office could possibly provide some proof that it isn't just run out of somebody's basement.

[Harley997]

I think leaving money on cex or buying their ghs is foolish but thats just my opinion like yours of cex.

What site would you use for cloud mining? Or would you rather just buy and sell btc.

CEX is the best IMO, but cloud mining and mining in general is unprofitable.

[bitgeek]

I think leaving money on cex or buying their ghs is foolish but thats just my opinion like yours of cex.

What site would you use for cloud mining? Or would you rather just buy and sell btc.

CEX is the best IMO, but cloud mining and mining in general is unprofitable.

No worries, there are people working to change it.
Soon you won't have to worry whether you'll get a profit or not, you'll have it guaranteed.

[Mayuyu48]

i have used cex.io few months ago
since their fee increasing and they add fee for trading, i decided to stop using cex.io
cashout my GHS and invest in another site.
Anyone get ROI after invest there?

[ajareselde]

to me cex is a trading site, not a true mining site. if u treat cex  like a cloudmining site  ur wallet will not be happy.

ure wrong buddy, cex mining servers are awesome, and definetly a recommendation to any miner.
Note that you also have ghash.io multipool, which is operating nicely for us who are not even bitcoin miner, but altcoin speculators

[TheDragonSlayer]

Greetings,
Just a question that floated on my mind tonight, but I was wondering who here uses Cex.io? I have been with the cloud hash mining site for about a few months. I treat mining for bitcoins kind of like a hobby, or a game. My every few weeks to see how much more bitcoins I can earn and generate. I start out with those .333 ghz usb block erupter. I bought 5 of them for about 15 bucks brand new in early January 2014. I set my computer on to mine for bitcoin until I reached around 0.01 btc. Then I combine that amount another 0.03 btc gain form using faucets.

I stop using the block erupter, because of the very low rate of income(wasn't hoping for hundreds of dollars) and mostly, because they ran very hot, and my computer eats ups a lot of juice as well,I think people should be mining for bitcoin, and it needs to be mined in order for it to stay alive, but I personally thing Cex.io was a good choice for me to start mining because of the fact I don't pay a huge electric bill nor do I risk burning down my house form a failed erupter.  I switch over to cloud hashing so that I could mine 24/7 without paying for a lot of money. The rate during the time that I join was about 0.4 btc of 1 ghs. It went up as high as 0.5 btc per ghs, then crashed down to where it is now 0.007 btc per ghs. I started out with 1.5 ghs, got tried of trying to gain more ghs through pumps and dumps, so then I just left it alone. For weeks I kept going around the hamster wheel with those bitcoin faucets, and came back to the site. I can't remember how much btc that I traded in for, but now I'm at a 9.6 ghz.

Also, there were some crazy last minute investing in what CEX had called bidding on the futures, but now they have stop using the feature. Maybe because the future prices of btc for ghs never rose more than what was being traded. So a lot of people would buy futures ghs for a cheap price, and gain more ghs at end of every month.

I think if anyone wants to use this service they should either buy some bitcoins and send it over to their btc address in cex, or use faucets.

Well sorry if this post seems to be a bit rushed, but that's all I can recall about my experiences in using CEX.io     

The problem is, you pay electricity and maintenance charges on cex.io (its not free)

[Harley997]

Greetings,
Just a question that floated on my mind tonight, but I was wondering who here uses Cex.io? I have been with the cloud hash mining site for about a few months. I treat mining for bitcoins kind of like a hobby, or a game. My every few weeks to see how much more bitcoins I can earn and generate. I start out with those .333 ghz usb block erupter. I bought 5 of them for about 15 bucks brand new in early January 2014. I set my computer on to mine for bitcoin until I reached around 0.01 btc. Then I combine that amount another 0.03 btc gain form using faucets.

I stop using the block erupter, because of the very low rate of income(wasn't hoping for hundreds of dollars) and mostly, because they ran very hot, and my computer eats ups a lot of juice as well,I think people should be mining for bitcoin, and it needs to be mined in order for it to stay alive, but I personally thing Cex.io was a good choice for me to start mining because of the fact I don't pay a huge electric bill nor do I risk burning down my house form a failed erupter.  I switch over to cloud hashing so that I could mine 24/7 without paying for a lot of money. The rate during the time that I join was about 0.4 btc of 1 ghs. It went up as high as 0.5 btc per ghs, then crashed down to where it is now 0.007 btc per ghs. I started out with 1.5 ghs, got tried of trying to gain more ghs through pumps and dumps, so then I just left it alone. For weeks I kept going around the hamster wheel with those bitcoin faucets, and came back to the site. I can't remember how much btc that I traded in for, but now I'm at a 9.6 ghz.

Also, there were some crazy last minute investing in what CEX had called bidding on the futures, but now they have stop using the feature. Maybe because the future prices of btc for ghs never rose more than what was being traded. So a lot of people would buy futures ghs for a cheap price, and gain more ghs at end of every month.

I think if anyone wants to use this service they should either buy some bitcoins and send it over to their btc address in cex, or use faucets.

Well sorry if this post seems to be a bit rushed, but that's all I can recall about my experiences in using CEX.io     

The problem is, you pay electricity and maintenance charges on cex.io (its not free)

It is not so much fees, but rather the actual costs with advantages of an economy of scale. This would probably be less then if you were to mine on your own (disregarding local differences in the cost of electricity)