CEX.io Halts Cloud Mining Service Due to Low Bitcoin Price

[cyberpinoy]

So where is puppets view of this thread, when a company charges 81% maintenance fees, for who knows how long, what CEX is doing is a slap in the face of the people who invested with them. Unfortunately they are in a contract, a binding one, this is a step that could land thier ass in court FINALLY. because no matter how they would like to change their contract, the people who purchased the cloud a year ago are binded to that contract, not any of the recent updates they have been making as they lie and steal and change thier business structure as they see fit to scam as many bitcoins as they can out of thier users and members. Legally they can not change a contract after it has been sealed and the deal has been made. Whatever your contract says at the time of purchase is what they HAVE to carry out, changing the contracts are illegal. I hope some fancy pants lawyers son takes thier ass to court for everything they got.

CEX is a scam, a legally binding scam that has stolen thousands and thousands of bitcoins from innocent investors, miners and just run of the mill people looking for quality service from a prominent company. They are guilty of false advertising, breach of contract, as well as swindling.

[tokeweed]

If they wait until bitcoin price reach $320, they could halts their service for a long time
It's better they to get a new hardware like UMISOO / antminer S4 / something better

true. and who knows how long it'll be at these prices. 1 year? 2 years?  5?? 

[Solange]

If they wait until bitcoin price reach $320, they could halts their service for a long time
It's better they to get a new hardware like UMISOO / antminer S4 / something better

I think they were just stating it's not possible for them to continue until it rises to that price. I don't think they intend to either and will be just forced to shut up shop instead. Sad really but I guess that's business.

[opossum]

If they wait until bitcoin price reach $320, they could halts their service for a long time
It's better they to get a new hardware like UMISOO / antminer S4 / something better

Well the reason they are waiting is that it will cost more in electricity to run the miners then they would mine. This would result in a negative EV for mining which does not make sense to do.

[Talon]

If its all based on all low price, do you think all of the clouding sites are going to halt?

[mayax]

If its all based on all low price, do you think all of the clouding sites are going to halt?

almost all of them will stop mining. it will remain the chinesse

[serje]

If its all based on all low price, do you think all of the clouding sites are going to halt?

almost all of them will stop mining. it will remain the chinesse

and the difficulty will drop and it will be profitable again

[Teemo]

wow I just read the article on coindesk, that some dumb thing to do.. just because the price of bitcoin.. its logical for them since they dont see profit.

i state dumb because what if people who are new getting into bitcoin, and they want to get into the mining game then see that lol.

[BitmoreCoin]

wow I just read the article on coindesk, that some dumb thing to do.. just because the price of bitcoin.. its logical for them since they dont see profit.

i state dumb because what if people who are new getting into bitcoin, and they want to get into the mining game then see that lol.

Their electricity cost is too high