Top cryptocoins fall

What stands behind fall of top cryptocurrencies? Let's try to figure out
18 October 2017   2041

According to a CoinMarketCap, all top ten cryptocurrencies (except NEO) showing big price drop.

Top ten cryptocurrencies price chart
Top ten cryptocurrencies price chart

As you can see on the chart above, Bitcoin lost more than 7%, Ethereum - more than 8%, Ripple - more than 13%, Litecoin - more than 10%

As always on the cryptocurrency market, there can be billions of reasons to any price change. But some analytics connects this price drop with The 19th National Congress of the Chinese Communist Party (CCP). Despite the recent exchange and ICO ban, China is still big cryptomarket. 

The first news from Beijing, however, concerns this sphere so far only indirectly. As reported by CNBC, in China, a popular messenger WhatsApp was blocked. Also, there are failures in the work of other social platforms, including WeChat. WeChat is especially popular among Chinese crypto investors.

In the meantime, the TASS agency reports that in the next five years the Chinese leadership will intensify the work on creating a "clean and bright" global network space and, in the end, will provide comprehensive control over it. Such a statement at the opening of the congress was made by Chairman of the People's Republic of China Xi Jinping.

According to him, special attention will be paid to delineating the areas of responsibility of the competent authorities for the appearance on the Internet of one or another informant.

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.