Coinsource to bring its Bitcoin ATMs to Washington D.C.

Coinsource plans to deploy 20 new Bitcoin ATMs in D.C. metropolitan area after receiving a significant demand from local users
13 April 2018   459

Bitcoin ATMs are quite popular with the folk in the US. And now Washington D.C. is the next city to receive several new machines courtesy of Coinsource – one of the important players in the United States' Bitcoin ATM market.

Right now the US capital has only five machines operated by different companies. Coinsource plans to turn the market by deploying twenty new ATMs in D.C. metropolitan area - twelve in Washington D.C., five in Baltimore and one each in Towson, Oxon Hill and Takoma Park. This move will instantly make Coinsource the largest Bitcoin ATM operator in the region.

“We are expanding the Bitcoin ATM market further than it’s ever been in D.C., offering the lowest rates, exclusive remote enrollment and allowing for at-home account registration.This installment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people. As a company I feel that we have been able to provide financial freedom to the underbanked and unbanked, and I am happy to bring our services to D.C.”, said CMO of Coinsource, Bobby Sharp

First quarter of this year was quite busy for the company – they installed 10 new machines in Massachusetts, New Hampshire and Rhode Island. Also, last week Coinsource deployed eight new machines in Denver, Colorado.

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.