Good Day Web Dwellers!
I’ve had it! j/k I’m enjoying this wonderful Wednesday. Still have to look into the Janet Yellen Speech today, but I see that BTC price didn’t bulge much so I’m presuming no bombshells were dropped either. Anyway, today marks an interesting point for me…I’m closing out my Cexio Account. No qualms or problems with the service or anything. I gambled well with them and profited handsomely on a few different purchases and sells back in November 2013. These guys were the first cloud-mining operation that I was aware of. Literally! I think it was back in October 2013 when they started. The idea is that you can use Bitcoin to buy shares of mining power by the gigahash. They would mine for you and eventually you would earn more BTC. It was essentially like a BTC savings account (if you were persistent and paid attention to it of course – letting your funds sit there as gigahash and not trading them would eventually cause them to be devalued and you would ultimately lose money – it was basically like a holding the bag asset – you don’t want to be the last one holding it).
To be frank (lol Frankenmint, because he mint’s bitcoin, frankly), I stopped using the service in January for mining; at that point I had already amassed about just under 3 and a half Terahashes so I had no desire to gamble my mining earnings for more profit (as described above). So there my account sat, unused, dead to the world, till this morning. A couple weeks back I got an email from them that they would begin to close their various multipools. Naturally, I put the note on the backburner, until I got it again a 2nd time today.
I’m not going to copy and paste the whole letter here, but I will tl;dr the juicy parts for us. Nevermind I’m totally going to copy and paste the whole piece in its entirety, for it’s only two paragraphs:
DOGE and NMC
All DOGE and NMC trading pairs will be removed from CEX.IO exchange on 15 Dec, 2015.
Thus, we kindly ask you to either withdraw altcoin funds to your personal wallets, or exchange them into Bitcoins before 15 Dec 2015, when all orders in order books that contain above mentioned altcoins will be cancelled.
Merged mining for DOGE and NMC will continue as before. Wallets of the aforementioned coins will remain without wallet fee.
DRK (DASH) mining pool on GHash.IO pool will be closed on 15 Dec, 2015. Make sure to withdraw DRK (DASH) funds to your personal wallets to exchange them into Bitcoins before Dec 22, 2015, when all DRK (DASH) pairs will be removed.
Thereafter, we will be imposing a wallet fee for storing DRK (DASH), which will be used for running the support of the wallets and will be charged in DRK (DASH) equivalent to 0.00015 BTC per wallet per day.
Please also check out our detailed announcement regarding removal of other altcoins from the exchange and multitool suspension.
Logging back in and looking through my balances, I had a couple Namecoins and a smidget of IXcoin and Devcoin. [Let’s see the prices of those: Devcoin is 4 satoshis LOL okay, IXC looks to be more promising at about 6K satoshis converted into dollars, we’re talking fractional penny shavings here], the real money to take out was the .0005 BTC doing nothing – I’ll take that.
Where to go from here? Well, I’ll probably consider consolidating my cryptsy balances further, but honestly, its not at the top of my priority list – I keep the real balances off of exchanges, If my meager 83 Namecoin, 2500 Devcoin or 300K Doge are lost, I’m not losing any sleep over it.