7 COMMENTS

  • a

    it seems hard to win buying ghs; i did bought some though

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    on January 1, 2014
  • TradeFartress (@TradeFartress)

    cex.io is a scam and not very smart with your security either. References: http://bitcoinscammers.com/cex-io/
    http://mentaso.com/bitcoin-news/cex-part-2-the-hacked-account-and-children-playing-grownups.html

    I wouldn’t trust them with a single satoshi.

    on December 16, 2013
    • The Dude

      Lol you don’t have a clue and bought the BS some users spread that where uncareful with their personal data.

      on January 4, 2014
  • Gauthier

    Aaran you are more than right with your advice. I must add though that you are leaving out the important fact:

    CEX.IO is more focused on day trading the GHS you hold rather than a long termn investments (to earn profits by buying low and selling high). I believe their are other sites that offer better deals if you are looking just some GHS to cloud mine.

    On CEX.IO, the trading aspect with 0% transaction fee makes all the difference when doing the numbers and makes it a unique concept that deserves it’s distinction.

    on December 6, 2013
    • The Dude

      Yep, that’s how I made most of my profits on CEX https://cex.io/r/0/serial77/0/

      on January 4, 2014
  • Aaran

    efore you buy any GHS make sure you do the sums to see if it is worthwhile.

    Here are my calculations that show that people who are buying GHS with cex.io are set to loose
    The going price is about 0.072 BTC per GHS.
    According to this calculator that uses the past 4(i think) difficulty rises to predict the increase in difficulty, you are set to lose more than half of your investment.
    http://www.coinish.com/calc/#

    To use this calculator to calculate the return per GHS,
    Set the hash rate to 1000 (1GHS)

    Change the currency in the investment section to BTC and enter the price of 1 GHS

    Set the power requirements to 1.5 and the power costs to 0.3 as per https://cex.io/maintenance

    You will see that considering reduction you stand to loose US$47 from an investment of about US$75

    You can play around with the difficulty increase to achieve different results if you believe it is going to slow down.

    However, it is hard to imagine it slowing down much if you will soon be able to get 1200GHs for US$7000, about 10 bitcoins, which equates to 0.0083 bitcoins per GHs. Almost 10 times less than the going rate on cex.io
    http://bitcoinwisdom.com/bitcoin/calculator

    The historical rise in difficulty and the next predicted rise can be found at the link below. The difficulty is set to rise more than 22% next time.
    http://bitcoinwisdom.com/bitcoin/difficulty

    It is very unlikely that at the current price of GHS that you will break even let alone make a profit.

    The over inflated price is probably due to the generous referral system where if you refer someone you get 3% times the amount of GHS they buy. That combined with a lot of people wanting to get in on the mining business makes perfect conditions to exploit Beginners. Consider the advice you receive carefully.

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    on December 4, 2013
  • adam

    Thanks for the review, I will try it.

    on November 19, 2013

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