Bug in Cryptsy Market Bugs Mining Pool Operator
The analogy below is a snippet from an explosive, outraged Reddit post about cryptocurrency popular exchange Cryptsy by user ProHashing. He is a representative of the company by the same name as his username, which is based in State College, Pennsylvania, United States and owned by the brothers Chris and Steve Sokolowski. ...imagine that you walk into a hardware store and see that there is a sale on a type of screw. Since they are so cheap, you say that you're even willing to pay 1.1 times the sale price. You buy 10,000 of these 5 cent screws to use in building your new home. The cashier....
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The popular cryptocurrency trading site Cryptsy.com has been having some noticeable issues these past few hours. Users of Cryptsy have been reporting negative balances, frozen transfers, suspended withdrawals. Speculation is that a recent update is causing the issues. Cryptsy is aware of the issues, but no official statement has been released yet. Who's been hit? I spoke to BlackDogeOfWallSt, one of the developers of BlackCoinPool.com (BCP), which has probably been the hardest-hit community from Cryptsy's problems. BCP has had to delay their payments due to the problems. BCP's payouts have....
Today, the Cryptsy team has a total liability of 10,000 BTC, which based on the price of bitcoin at the time of writing is equivalent to US$3.8 million. As of now, the Cryptsy team is is trying to find a new owner or an investor to take over the exchange. The Cryptsy team considers “Spread the loss to all users in the system and allow trades to continue.” The alleged operator of Cryptsy stated that many suggested this option for the Cryptsy team to implement. However, by the looks of the users, it seems like not many users will be willing to adapt to this “solution.” Cryptsy, amid various....
Popular bitcoin mining pool operator has taken no shortage of criticism over the past few months, but they're still not shying away from showing off their mining power. The pool, which launched over a year ago now in 2013, has generated nearly $250 million USD with the combined power of all miners across the world connected to the pool. That's 413,752 bitcoins, if you were wondering. The information comes from an infographic released by the pool operator, which reveals other interesting statistics. (You can view the infographic by clicking here). The pool has consumed 159.5 million KW/H of....
Bitmain has announced the launch of its latest open source BTC.com bitcoin mining pool with new improvements and attractive pricing. Bitmain, the Bitcoin Mining ASICs manufacturer has launched a new open source mining pool. The new mining pool is part of BTC.com, the company’s Bitcoin block explorer, analytics tools and wallet services arm. According to the company’s blog post, Bitmain is offering a great deal to all the users joining its new mining pool. All miners on BTC.com mining pool will be able to mine the digital currency without having to pay any mining fee until next year.....
Slush Pool, a Czech-based Bitcoin mining pool accounting for 6 percent of hashing power on the Bitcoin network, indicates it will re-enable connected miners to vote for a block-size increase through BIP (Bitcoin Improvement Proposal) 101. Slush Pool was the first mining pool on the Bitcoin network to allow miners to vote for BIP 101, but recently suspended this option due to sustained DDoS attacks on its servers. Speaking to Bitcoin Magazine, Slush Pool operator Marek Palatinus said: "We're strengthening our infrastructure and we plan to enable BIP 101 mining again." The block-size dispute....