Crypto miner Poolin offers IOU tokens after suspending withdrawals
"Our priority, for the time being, is to resume withdrawals of as many coins/tokens as possible," said Poolin. Poolin, one of the largest Bitcoin mining pools by hash rate, has announced it will be issuing IOU tokens in an effort to “minimize the impact of withdrawal suspension” for users. In a Tuesday blog post, Poolin said its wallet service will be releasing IOU ERC-20 tokens for users unable to withdraw their Bitcoin (BTC), Ether (ETH), Tether (USDT), Litecoin (LTC), Zcash (ZEC) and Dogecoin (DOGE) holdings. On Sept. 15, the mining pool will issue IOUBTC, IOUETH, IOUUSDT, IOULTC,....
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Is this the beginning of the end for Poolin? Or is the mining pool just powering through some minor problems? The Beijing-based company recently announced, “Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals.” All hell broke loose after that and Poolin lost between 30 and 40% of its […]
“We will make a snapshot of the remaining BTC and ETH balances on pool on September 6th to work out the balances," said Poolin. Poolin, one of the largest Bitcoin mining pools by hash rate, has announced it has temporarily suspended Bitcoin and Ether withdrawals from its wallet service due to “liquidity problems.”In a Monday announcement, Poolin said its wallet service was “facing some liquidity problems due to recent increasing demands on withdrawals” and planned to temporarily stop payouts of Bitcoin (BTC) and Ether (ETH). In its Telegram channel, Poolin support told users it was “hard....
Events around the world’s largest cryptocurrency by market cap, Bitcoin seems to swing uncontrollably. As a result, there has been a drastic drop in price in the entire crypto market, with Bitcoin unable to maintain its stronghold. This is contrary to the expectations of many institutional investors and other participants in the industry. BTC had plummeted to $20K over the past few weeks. With increasing volatility of all digital assets, the total crypto market cap plunged to the $1 trillion level. But though there is still not much hope for positive outplay for Bitcoin, the record....
Following China’s bitcoin mining crackdowns, Poolin has suspended rewards for its tokenized hashrate contracts. The wBTC and wETH rewards are on pause until “less than 60 days”, as per a blog post from Poolin. Poolin Pauses Rewards For pBTC35A And pETH18C Poolin’s tokenized hashrate contracts, pBTC35A and pETH18C, have all their wBTC and wETH rewards […]
Major bitcoin mining pool Poolin has launched an initiative promoting Taproot, which will ultimately require miner support. The post Poolin Launches Initiative To Activate Taproot, Encouraging Other Mining Pools To Join appeared first on Bitcoin Magazine.