G20 to Regulate Bitcoin

The first meeting of G20 will take place at Argentina in April
18 December 2017   1273

French Finance Minister Bruno Le Maire announced on Sunday that the next G20 meeting would include discussion about how to regulate bitcoin.

I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin. There is evidently a risk of speculation. We need to consider and examine this and see how G20 can regulate bitcoin.

 

Bruno Le Maire
French Finance Minister

The first scheduled calendar meetings at the Argentina G20 in April are of its Development Working Group in Buenos Aires, April 10th, 2018. Priorities of upcoming meeting have been already announced, including "the future of work and what this means for education, infrastructure for development, and a sustainable food future".

Recently, we have reported that the chairman of French market regulator called bitcoin a "dangerous illusion" and a tool for criminals.

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.