Archive for the ‘Crypto News’ Category

mining-asics-technologies-image

The Dutch company Mining ASICS Technologies (MAT) is now insolvent (bankrupt) according to information we got from our colleagues at Bitcoin Update. We have covered Mining ASICS Technologies multiple times so far and lately they did have some trouble as their main focus was Scrypt ASIC miners which they were late to deliver and in fact it seems that just very few customers got their mining hardware from MAT. If you have not received what you have paid for you can contact the bankruptcy trustee appointed to deal with the company for additional information on how you should proceed. The bankruptcy trustee contact information provided by BitcoinUpdate.nl is quoted below. The official website of the company is not longer available or at least at the moment we are getting an error message when we try to open it.

You can contact curator (trustee)
Curator Mr. C.F.M.P. Spreksel, Wilhelminasingel 63, 6221 BG Maastricht.
Tel: 043-3432859

zeushash-website

We just got a not so pleasant surprise from ZeusHash in the form of a notifications that they may start terminating customers’ Scrypt cloud mining contracts. With “lifetime” cloud mining contracts offered by services such as ZeusHash the duration of the contract is until the coins you mine result in more than what you have to pay for the daily maintenance fee. If the mined coins end up being less than what you need to pay for maintenance for a period of time, 10 consecutive days for ZeusHash, then your Scrypt cloud mining hashrate contract will be terminated. We were just notified that there was one such day and if we get 9 more days like that our Scrypt cloud mining contract will be terminated as it would have reached its “lifetime” term. Below you can see a quote of the notification that we and apparently every other ZeusHash customer with Scrypt cloud mining hashrate probably has received today.

Dear Customer,

This is an important notice for your MHS contracts.

Due to the surging of Litecoin minining difficulty, the daily payout of MHS fails to cover the maintenance fee today. According to the term of MHS contract, “the payout allocation will be terminated in case the daily mining return is lower than the maintenance fee for 10 days in a row”.

We are sorry to inform you when this continues for 10 consecutive days, we’ll have to terminate your MHS contracts. We didn’t expect this happening so soon but we have no other choice.

For now, GHS will be a better investment and we recommend you to buy GHS instead. And to thank you for your long-term support and faith in us, we’d like to give you a GIFT of 5 GHS so you can continue with your profits in cloud mining. Please check your balance in 24 hours.

Besides, to provide more ROI despite the termination of your MHS contract, we are offering you the LOWEST PRICE TIER @ $0.419 per GHS for your FIRST ORDER between Dec. 20th and Dec. 21st(UTC+8). More promotions are on the way for Christmas as well. Stay tuned for the good news soon.

In the meanwhile, we’ll strengthen our efforts to find you better contracts–MHS with lower costs for a better ROI and cloud mining investment.

Best Regards,
ZeusHash CS Team

nicehash-algorithm-profitability-chart

A good sign that there is a lot of user interest in the new Lyra2RE that VertCoin (VTC) has recently forked to is that services for renting and leasing hashrate are starting to add support for it. Today NiceHash and WestHash have added support for the Lyra2RE algorithm and while it may not be the most profitable algorithm according the stats on profitability it is still very profitable (SHA256 is the most profitable at the moment for some reason, making it interesting to sell hashrate than to mine Bitcoins directly). So if you are mining VTC directly and then selling it for BTC, then you might want to make it easier by directly pointing your hashrate to NiceHash or WestHash. Interestingly enough now that VertCoin is no longer Scrypt-N the interest for hashrate at services that offer you to rent an lease has gone low as people are apparently moving to Lyra2RE. It will be interesting to see if the interest in Lyra2RE and VTC will continue to increase or it will just be a temporary thing. If the difficulty continues to rise and the exchange rate of VertCoin does not start rising the profitability of VTC will suffer and people will start moving to more profitable coins to mine. As a result of people mining and selling VTC for BTC we already saw a drop in the VertCoin exchange rate today when some people apparently dumped the coins mined immediately after the switch of the algorithms while the difficulty was low.


top