Bill Miller's hedge fund is 30% Bitcoin

Bill Miller's hedge fund now has about 30% of its assets in Bitcoin comparing to 5% last year
31 October 2017   785

A hedge fund run by Bill Miller now has about 30% of its assets in Bitcoin, comparing to 5% last year, according to the wsj.com interview with the legendary investor.

Thus, as the interview details, the fund (MVP 1) bought its Bitcoin for an average $350 each. With Bitcoin trading around $6,100 Monday, that means the fund's digital currency investments have soared more than 1,600%.

As Miller claims, he isn't buying more Bitcoin for the fund at current prices, but he would be willing to "put 1% of my liquid net worth in it here" if he didn't already own Bitcoin in his personal account.

Bitcoin charts on coinmarketcap.com
Bitcoin charts on coinmarketcap.com

Meanwhile, Bitcoin is at the best of times with its price over around $6,150 and a marker cap of $102,438,163,350.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   117

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.