Many smaller mining pools already closed due to the falling price of Bitcoin, where the owner operator no longer making a profit. One of the biggest Cloud Mining Pool CEX.io closed or halted Clouding mining due to loosing profit because of the falling price of Bitcoin heading to $100 and CEX.io being transparent saying that the price of Bitcoin need to be at least $320 for it to continue Cloud Mining operation again. At least CEX.io appears to be transparent and honest about it.
With CEX.io closing its door on Cloud Mining purpose, we don’t really know what the future hold for CEX.io in general. Ghash.io is also with CEX.io same company that is. Ghash.io appears to be still up and running, but we don’t know how long because the pool profit based on % of fee transactions, but again with the falling price of Bitcoin that could ending ghash.io mining also.
It’s no surprise many small pools ran by individual already closed, website down, no longer existed. Bigger pool are struggling to pay its monthly maintenance. They’re paying via cash such as USD currency not Bitcoin or other cryptocoins that is why it is so hard to stay alive due to the falling price of bitcoin.
For Cointellect Mining Pool I’m very sure they’re struggling as well. Do not be surprise if Cointellect Mining Pool, including Cloud Mining Contract disappear because again due to the reason of falling price on Bitcoin, I’m sure they’re struggling as well how will they alive for the next weeks as Bitcoin price continue to fall below $100.
I’m not going to the detail of how Cointellect Mining Pool and Contract Mining work, although similarities exist with ponzi scheme activities on the mining contract, but I’m sure they’re struggling to stay alive too. The bottom line with Cointellect Mining Pool anyone whom are using it, do not get surprise if you can’t mine, can’t connect, get error, not responding, work rejected and so on, it is to profit loss due to the falling price of Bitcoin. Cointellect Mining Pool had to take action to prevent loss and hope for longevity. Cointellect not being transparent but many people like myself here can figure out that they too will struggling through this falling of Bitcoin price. For many that already invest lots of money with Cointellect mining contract, let’s hope cointellect can survive through this wave of bitcoin price falling apart, most likely will be below $100 soon. Wall street analyst indicated the price at this moment for Bitcoin should be around $140, but by the end of 2015 could be below $100, not likely that it will go up again anytime soon, sad but that’s reality of Bitcoin at the moment.
Hope for the next 10 years Bitcoin still exist, that’s all of us can hope for, not hoping it will reach $1000, but hope for existent of Bitcoin.