Lightning Network Used For Real-Life Goods Purchase

Reddit user bought TopGuard router for cryptocurrency, with transaction performed in Lightning Network
22 January 2018   590

TopGuard reported that the user Reddit under the name btc_throwaway1337 bought a VPN-router from TorGuard using bitcoin-transaction in the main network of Lightning Network (LN).

I’m just your average BTC enthuasiast, who had a bit of extra time last weekend. I saw TorGuard’s tweet, so I decided to contact them. I enquired as to purchasing more than just a monthly subscription, their staff gave me LN peering information, I opened a channel, received an invoice, and here we are!

It was all quick, easy, painless, and most importantly: instantaneous and fee-free!
 

btc_throwaway1337

Also the Reddit user noted that it was quite easy to open the LN payment channel and it cost him $ 2.40. 

It is also worth noting that TopGuard "is not production ready."

Lightning Network, a technology for scaling blockchain of bitcoin, allows you to create and maintain a network of payment channels connecting users, and record data about transferring funds to the block system only after all calculations have been completed.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   108

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.