Cloud Mining Service Hashie.co Disappears With User Funds, Replaces Site With ARG
Cloud mining is risky business. Bitcoin mining in general can be risky business, but cloud mining in particular requires a lot of trust. Essentially, you are sending someone money on the promise that they will send you more money back. There is a lot of talk about hardware and cloud mining and state of the art facilities with giant server racks filled with powerful ASICs. At any given service, those things may or may not exist and few things can be done to make sure they exist. Hashie.co, a cloud mining service that claims over 40,000 users, has suspended operations. Users have lost their....
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Two cloud-mining sites, Hashie.co and LTCGear have seemingly up and vanished. While LTC later reappeared, no payouts have been received and the website is bearing no further details. Cloud-mining is always a risky business, as it involves others mining bitcoin for you. Many who don't fully understand cryptocurrency look at the process as a positive action in the sense that they can reap the rewards without performing the "labor." With that said if you can't trust yourself to get things done, who can you trust? Several cloud-mining platforms have been revealed as defective or as hidden....
Cloudhashing or Cloudmining, the process of paying someone else to mine BTC for you, has been popular since the rise of CEX.io's Ghash service. Numerous alternatives have risen to compete with Ghash such as Hashie and LTCGear. Many cloud mining sites have been revealed as poorly designed ponzi schemes over the last year, as anticipated by Gavin Andresen. It seems we might be seeing more now. Update: LTCGear's website is back online, though no payouts have been received. Also read: Gavin Andresen Suspects Ponzi Schemes in Bitcoin Cloud Mining. Hashie Playing Games? While literally no....
Cloud mining service providers have been facing hard times ever since the Bitcoin price dropped below $320. Whereas major Bitcoin cloud mining service providers had to shut down operations for an undisclosed amount of time, new companies started appearing all over the internet. XScrypt is one of those cloud mining companies, but it looks like the “company” has gone bust after multiple issues with payouts. Running a cloud mining company is not as easy as it may sound. Not only does a cloud mining operator need access to mining hardware — either self-hosted or remote — but there are tons of....
CEX. IO, one of the leading bitcoin exchanges and cloud mining service providers, has announced the temporary suspension of its cloud mining services. They can attribute this policy change to the sudden and drastic drop in bitcoin value in the past weeks. The suspension is set to begin at the next bitcoin mining difficulty increase and it is unclear how long the suspension will continue. Jeffery Smilth, Chief Information Officer of CEX. IO, stated that this is a forced temporary measure, and. "...as soon as we get an opportunity to upgrade mining hardware, or come to more efficient terms....
In the world of cloud-based bitcoin mining, you never know what you are going to get. Most operators should be scrutinized and researched thoroughly before signing up as there are definitely some legitimate operations. However, there are quite a bit of shady practices as well in the cloud mining space. Recently, a lot of discussions have been aimed at....