50 Cent Doesn't Have BTCs

According to the Curtis Jackson's  "Declaration of Bitcoins" he is not a big Bitcoin holder
27 February 2018   734

Reports that Curtis Jackson, better known as 50 Cent, may be the owner of a large crypto-currency state, turned out to be a lie. The rapper himself admitted this.

The court materials, referred to by Techcrunch, say that Jackson "has never owned, and does not now own, a bitcoin account or any bitcoin", nor does any of his companies own them.

Jackson filled in the "Declaration of Bitcoins" last week.

All online transactions involving my brand were handled by an independently owned and operated third part, Central Nervous LLC.. the limited bitcoin transactions that occurred online were processed and converted to U.S. Dollars contemporaneously, based upon the then-existing exchange rate…

50 Cent's Declaration

He also provided a screenshot of his account serviced by BitPay, which registered several hundred transactions, mostly at $ 5.50 and $ 8.90. Obviously, the album Animal Ambition for bitcoins sold poorly, and the amount of 700 BTC, which was mentioned earlier, speech can not go at all. If we consider that at that time bitcoin cost $ 657, then 50 Cent earned about 6 or 7 bitcoins.

BitPay Account
BitPay Account

As a general matter, so long as a press story is not irreparably damaging to my image or brand, I usually do not feel the need to publicly deny the reporting. This is particularly true when I feel the press report in question is favorable to my image or brand, even if the report is based on a misunderstanding of the facts or contains outright falsehoods.

When I first became aware of the press reports on this matter, I made social media posts stating that “I forgot I did that” because I had in fact forgotten I was one of the first recording artists to accept bitcoin for online transactions. I did not publicly deny the reports that I held bitcoins because the press coverage was favorable and suggested that I had made millions of dollars as a result of my good business decision to accept bitcoin payments.

50 Cent's Declaration

In the quote above, you can read why did he didn't stop the misinformation that began to spread in the media.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   108

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.