CEX.IO Temporarily Suspends Cloud Mining Services
http://blog.cex.io/cryptonews/cex-io-temporarily-suspends-cloud-mining-services/Taking into consideration our users interests, the recent Bitcoin price drop, as well as the upscaling of the mining difficulty, CEX.IO Bitcoin Exchange would like to announce a temporary suspension of cloud mining services provided by the platform at the time of the next difficulty increase.
DOOM
Wait, isn't that actually good news for the price? I see you guys complaining constantly that there are too many miners and thus the supply is bigger than demand. Am I missing something?
Nothing will change, CEX.IO will continue to mine with all it's hardware. Only the customers who purchased cloud GHs will get nothing, because the maintenance fees will become higher than their income.
And in all seriousness, let me repeat the BASIC principle of Bitcoin supply. Supply is CONSTANT. That's why the difficulty adjusts to the hashrate, to keep the supply constant. 25 BTC each 10 minutes...