Cexio price chart
By Joped February 15, Category Cexio price chart. It all started with doge coin. I had cexio price chart following bitcoin for a while with the market ups and downs. From a mining perspective it is impossible to get into. The problem with bitcoin mining is the level of equipment it takes to be profitable. That is because cexio price chart difficulty doubles about every 3 weeks.
That also means your returns are cut in half every 3 weeks. Instead of worrying about equipment. You are purchasing instant compute. They also offer the ability to resell that compute when you are done with it. They have an instant market that allows you to sell your compute to other users based on demand and price of the market. This sounds like an awesome idea right? Here is how I got screwed over. A friend came over my house to let me know about this awesome idea.
He was explaining it like getting interest on money just sitting in your wallet. Exactly like a bank account. Well, sure that makes cexio price chart to me.
He went on to explain how the cloud mining service cex. My gut instinct was to not do it. After a few drinks talking about it, I decided to go with it. You know, for science! And also, this was money I mined from a computer sitting at idle. Sure, if you take those dogecoin. Convert it to bitcoin, then determine based on current market rate. After paying the 0. Transferred it over to cex. I am now mining cexio price chart bitcoin with very little effort and nothing to monitor.
Within an hour I had my first reward and reinvested it. I did this a few more times before bed, and when I cexio price chart up the next day. Very quickly a pattern started to emerge.
The price of GHS keeps going lower and lower each day. My initial though was that we were about to switch difficulty and that the prices would need to stabilize shortly after cexio price chart.
I put together a spreadsheet to determine my starting point and my profit even with the price drop. My stomach sunk once I started seeing the values. I am hemorrhaging BTC! I put my GHS up for sale right away at a number I felt would be a reasonable loss and allow me to walk away with most of my shirt. The next day I noticed the price drop even more.
I should have dug into the reviews on them to realize how bad of an idea it was. It really bothered me, why do they only have 1 month displayed? Every cexio price chart shows tons of different charts. Even if it only had cexio price chart summarized data for values over 1 month.
After searching around I found a chart that basically confirmed the reasoning. If anyone saw this graph it would instantly scare them away. I contacted their support, and after cexio price chart few emails back and forth it went no were.
Here was their first response to me questioning the shady nature of their service. Chart source — cryptfolio. IO is an exchange, the price is mostly controlled by the users it is comprised of. Also, as the price of hardware decreases due to increases in mining difficulty, it works the same for cloud hashing. However, it still remains that the user base is the biggest contributing factor to prices on the exchange.
Cexio price chart course the price is controlled by the users. They are the middle man making money by selling you access to hardware that is obsolete within a few weeks.
But that is a very misleading statement. First off, you will never sell it back for even close to what you paid. While cexio price chart wait for this to happen, the amount you are earning will never fill the gap.
Every week this gap gets bigger and bigger. The last straw was when they said they are working on offering the charts for longer periods. As a developer I have to call out this excuse.
And I strongly believe this is a very deceptive business practice. In the end it was an interesting experiment. It was a strong reminder of just how shady virtual currencies can be. This all happened a few weeks ago.
In a few days the difficulty will increase again, they the value will plummet some more. Your email address will not be published.
Here was their first response to me questioning the shady nature of their service Chart source — cryptfolio. Leave a Reply Cancel reply Your email address will not be published.