Director of IMF: Bitcoin to make Global Finances Secure

Christine Lagarde, Managing Director of the IMF, has written in her blogpost that the Bitcoin growth could make the world financial system safer
17 April 2018   536

Ms Lagarde claimed in her blogpost that cryptocurrencies like bitcoin could provide fast and inexpensive transactions, as the basic blockchain technology is able to make financial markets safer. Revealing in a blogpost that the politicians and central bankers to meet in Washington, she said there was hope for a world where companies using digital currencies could exist together with traditional banks. 

Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills. An important initial step will be to reach a consensus within the global regulatory community on the role crypto-assets should play. Because crypto-assets know no boundaries, international cooperation will be essential.
Christine Lagarde, Managing Director, IMF

The IMF is not the first structure to want to regulate Bitcoin and other cryptos. The Bank of France and the Bank of England have already put forward their object to regulate the crypto-currencies` using. 
Ms Lagarde`s comments are likely to append to the positive mood built around cryptocurrencies over the last few days, with some prominent Islamic scholars tagging bitcoin as halal investment. This could pulse another uptick in the market.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   118

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.