Two Cloudmining Platforms, Hashie and LTCGear, Mysteriously Offline
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....
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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....
If you peer over to Litecointalk, a forum dedicated exclusively to Litecoin, LTCGear has been a rather infamous topic for the last couple of months. LTCGear started by a member by the username Beekeeper, also known by his real name Chris. When Chris started the service, members both senior and junior ravished over its profitability, legitimacy and was always out of stock due to these reasons. Then starting in December of last year, LTCGear started acting up. Payments were paid out to some people, but not to others. Payments then were delayed or late, but then stopped altogether. Chris’....
CoinTelegraph concludes its review of a selection of the most popular cloudmining providers with the all-important overview of just how much money is involved for potential users. Cloudmining needs to be suitably profitable for customers, as well as offer flexibility when it comes to harnessing and spending or reinvesting those profits. With this in mind, we check out the costs to the consumer for each of our cloudmining providers, and see how easy it is to get your hands on your precious coins fresh from the ether. (Please note that due to currently experiencing difficulties,....
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....
When it comes to engaging in Bitcoin cloudmining, there has been a lot of hype but little entry-level information generated for the average user. As the concept of mining Bitcoin becomes more and more well-known as a concept, many more consumers are looking into the idea. However, with difficulty at its current level, the expense associated with hardware purchasing, as well as the mining process itself, is off-putting, and so cloudmining is becoming the natural choice for many new parties today. The infrastructure surrounding mining, especially hardware manufacturers and mining pool....