Dutch Bank to Release Cryptocurrency Wallet

Rabobank launched a website for a project called “Rabobit” which is going to develop into cryptocurrency wallet for safe storage of digital assets
28 February 2018   607

Rabobank is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands, and a global leader in food and agriculture financing and sustainability-oriented banking. 

Presumably in the aftermath of the spreading trend of major banks, Rabobank refused to service Bitcoin businesses due to “compliance risks” in the beginning of February, 2018. Not long after that the reports started to appear that the bank was fined $369 million for money laundering.

Rabobit translated tweet of RabobankRabobank tweet regarding Rabobit translated from Dutch

Despite the allegations and bank's negative policy towards Bitcoin, it has emerged that Rabobank had launched a dedicated website for a project called “Rabobit,” which is going to develop into cryptocurrency wallet for safe storage of digital assets.

When twitter users asked Rabobank whether the website, which consists of only one page and a signup form, was genuine, the bank replied that the wallet had not been released yet, but it was in a development stage, and more information was forthcoming.

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.