Iran welcomes bitcoin

Iran High Council of Cyberspace has approved bitcoin and other cryptocurrencies
27 November 2017   584

HCC is the main instance to decide the fate of cryptocurrencies in Iran. And it has declared that the bitcoin and others cryptocurrencies are welcome in Iran if they are subject to certain rules. The Iran Central Bank are studying virtual currencies, because they have captured the attention of the world.

Mechanisms of control and supervision over the supply of cryptocurrencies are being implemented through the collaboration of the central bank and related entities, but the people must be aware of their risks and dangers on the demand side.

Nasser Hakimi

the head of CBI’s Innovative Technologies Department

CBI has not developed some definitive regulations for currencies. But a lot of Iran people are using Bitcoin, be it purchasing, selling or mining it, and dealing with it in exchange shops, creating content and establishing startups. In total, CBI will develop 6 documents to regulate fintechs and cryptocurrencies. Some of them will be published in March 2019, two have already been published, a third will appear in December, and the fifth one about cryptoconcession - in September 2018. Also HCC will continue to study and evaluate pros and cons of virtual currencies.


HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   97

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.