Hashflare Resumes Mining Service as Bitcoin Recovers From Two-Month LowCloud mining provider HashFlare has announced that it is resuming SHA-256 bitcoin mining service on Saturday.
This is a major reversal from HashFlare’s decision to halt Bitcoin mining and terminate all contracts last week. The company claimed mining had been unprofitable for 28 consecutive days at the time contracts were terminated on 20 July.
The company made the announcement via its Facebook page on Friday, saying it has found a solution that will allow them to resume the bitcoin mining service.
“Throughout the last week our team has been focused on finding the optimal solution, that would allow us to resume mining SHA-256, and we are happy to announce that as a result of diligent work, such a solution has been reached. Tomorrow, 28.07.2018, at 00:00 (UTC), SHA-256 mining service will be resumed. All SHA-256 contracts will continue to operate on the same terms.”
This news will be welcomed by HashFlare customers, who were outraged over the shutdown. Some claimed to have purchased contracts during the 28-day period during which mining was unprofitable, and said HashFlare shouldn’t have been selling mining contracts right before terminating all of them. Other customers had been mining for months, constantly re-investing their profits, so lost everything when the contracts were terminated. One customer went as far as issuing a death threat to HashFlare’s operator.
Bitcoin’s price has risen significantly since HashFlare terminated its service. BTC is currently trading over $8,000 as at the time of writing. A combination of needing to placate customers and rising Bitcoin prices could have led to HashFlare’s decision to restore Bitcoin mining contracts...See More: https://news.bitzamp.com/hashflare-resumes-mining-service-as-bitcoin-recovers/
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CRYPTOCURRENCY WEEK IN REVIEWSEC rejects Winklevoss's Bitcoin ETF proposal again: The Impact on the Crypto Market?$BTC recovers as more buyers seek entry following the bears' exhaustionChina rates EOS as the best blockchain againCatch the major news and market trend this week on Bitzamp News Spotlight... https://news.bitzamp.com/cryptocurrency-week-in-review-july-28-2018/
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Google will no longer allow cryptocurrency mining apps on the Android Play StoreEarlier this year, the search engine giant banned crypto mining extensions from the Chrome Web Store, including the ones that were solely focused on mining. In addition, Google updated its Financial Services Policy last month prohibiting ads relating to “Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)”. The recently updated Play Store developer policy states: “We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency.” See more: https://news.bitzamp.com/google-play-officially-bans-cryptocurrency-miners/
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The US Securities and Exchange Commision (SEC) rejected the application for bitcoin-related exchange-traded-fund submitted by Cameron and Tyler Winklevoss. That was their second attempt to create the first ETF tied to the digital coin; however, the regulator expressed concerns related to liquidity and custody issues. Two more proposals for Bitcoin ETFs, submitted by VanEck and SolidX are still to be reviewed by the SEC. The news pushed the biggest cryptocurrency below $8,000 handle, signaling deeper correction after the recent rally. Currently, BTC/USD is changing hands at $7,887, which is 3.7% lower on a daily basis. From the short-term point of view, Bitcoin moved to the oversold territory, but the trend still remains bearish... Read More: https://news.bitzamp.com/sec-rejects-winklevosss-bitcoin-etf-btc-bull-loses-momentum/ |
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Public Sentiment affects Bitcoin Market as SEC Rejects Second Winklevoss’s Bitcoin ETF Application |
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Iran’s Government Mulls ‘Indigenous’ Cryptocurrency Ahead of US Sanctions |
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