Israeli BTC services blocked due to watchdog's request

Israeli bank Leumi blocked transactions of popular cryptocurrency services
11 December 2017   843

Such a decision is explained by the directive of the country's financial regulator to combat illegal gambling. This is reported by the Finance Magnates.

In particular, users reported that they received warnings about the impossibility of transferring payments to Bitcoin Service Coinmama using the bank's issued Leumi payment card. In the telephone mode, the bank's employees reported that the service was classified as a gambling site.

It should be noted that this information was confirmed in the bank's official letter to its clients.

As part of the framework of ongoing security activity and in light of the explicit instructions of the Bank of Israel (in accordance with the law prohibiting gambling in the State of Israel), Leumi Card monitors and blocks websites that execute gambling transactions. Leumi Card holders are not permitted to make transactions through them.

Leumi Letter

Meanwhile, the chairman of the Agency for Securities of Israel Shmuel Houser recently compared the fascination with crypto-currency with the gold rush of the XIX century. In doing so, he distinguished between bitcoin, blockchain technology and ICO.

Recall, in late November, the Ministry of Finance of Israel announced the formation of a working group on the study of digital currencies, which will include the heads of major audit firms and professional agencies

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.