Federal Reserve is to issue digital money

Fed officials voiced their opinions about cryptocurrency and stable money
30 November 2017   488

It was reported during a conference on November 29 that the Federal Reserve is planning to issue its own cryptocurrency. The president and CEO of the New York branch of the organization William Dudley declared that the Fed was excited of digital currency and tried to examine it. He also added that despite apparent interest to this social and economic phenomenon it was too early to say about introducing such ideas.

Dudley admitted that he understood the fact of immaturity of the plan and voiced concerns for safety of digital currency. Digital currency is, in his view, more risky than stable money.

But other officials are not so certain that idea of issuing of Fed’s own cryptocurrency can spring to life. As Patrick Harker, the President of Fed’s Philadelphia branch, said, using both digital and stable money is only matter of trust. He declared that the world used paper money because of belief that the government supports it.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   72

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.