U.S Government is Working on 'Comprehensive Strategy' for Crypto

According to the deputy attorney general of the U.S., the government is working on a "comprehensive strategy" around cryptocurrencies  
28 February 2018   454

During the Financial Services Roundtable's spring conference Rod Rosenstein was asked about his views on cryptocurrency and cybercrime. Apart from the answer to the question, he also referred to a cybercrime task force unveiled last week by the Justice Department.

A lot of these schemes involve bitcoin and other cryptocurrencies which do not flow through the traditional financial system. What we're working on now with our cybercrime task force is a working on a comprehensive strategy to deal with that.

Rod Rosenstein

Deputy Attorney General for the United States Department of Justice

He also noted that cryptocurrencies are not fully anonymous, they are, rather, pseudonymous. The laundering process leaves clues for federal investigators to follow to the source. Criminals will always leave trails. Even when dealing with cryptocurrency, criminals are going to want to convert, launder it into physical currency, and so there are ways to trace these operations.

According to him, the key element of the Justice Department's efforts is educating federal officials on how the technology works and the strategies for following such digital trails.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   98

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.