Karpeles to Pay Off Mt. Gox Users at Curreny Rate

According to former had of well known Bitcoin exchange, he "don't want this billion dollars"
04 April 2018   457

The former head of the once largest bitcoin exchange, Mt.Gox, once again apologized for his actions during the collapse of his company in 2014.

Mark Karpeles published a message on Reddit to former exchange users, many of whom have been trying to get their own money back for several years. Karpeles rejected the idea that he could get out with a huge amount of money.

As previously reported, Mark Karpeles can receive hundreds of millions of dollars in bitcoins, if the calculation with creditors will be made in accordance with Japanese laws, that is, in yen at the rate at the time of declaring bankruptcy of the company.

According to Karpeles, his company and himself could receive over 160,000 bitcoins and Bitcoin Cash or more than $ 1 billion at the current rate.

I don't want this. I don't want this billion dollars. From day one I never expected to receive anything from this bankruptcy. The fact that today this is a possibility is an aberration and I believe it is my responsibility to make sure it doesn’t happen. One of the ways to do this would be civil rehabilitation, and as it seems most creditors agree with this, I am doing my best to help make it happen. I do not want to become instantly rich. I do not ask for forgiveness. I just want to see this end as soon as possible with everyone receiving their share of what they had on MtGox so everyone, myself included, can get some closure.
 

Mark Karpeles

Former head, Mt. Gox

Unfortunately, in his message, Mark hadn't provide details of future calculations, which may have great impact on the cryptocurrency market. Earlier it became known that trust manager of Mt.Gox sold bitcoins and Bitcoin Cash for $ 400 million, which is associated with negative dynamics at the end of the past - the beginning of this year.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   92

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.