Archive for the ‘Crypto News’ Category

dogecoin-scrypt-crypto-coin

We have passed the 100000 block mark being discovered on the DOGE network and what that does is halving the mined number of coins per found block between 0 and 1 million previously to 0 to 0.5 million for the next 100000 blocks before the next halving of the reward. The result of the reward halving per found block for DOGE is that the current profitability is pretty much in half than before and it is lower that LTC at the moment due to the difficulty remaining the same and the exchange rate going a little lower than in the previous day. So it will be wise to move to another alternative crypto coin for the moment and even mining directly Litecoin will be more profitable than for DOGE at this particular point in time. What can bring DOGE back on the scene is reduction of difficulty, or less people mining it, or increase inn the exchange rate now that the rewards per found block are less. We’ll hack to see what will happen, but for now think about switching your scrypt miners temporary to another crypto currency that offers better profit and LTC or mine directly LTC.

mtgox-exchange-rate-going-down

The Bitcoin exchange rate at MtGox is still going down as a result of the recent problems they’ve had and the announcement they have made resulting in stopping BTC withdraws. The reason for that is simple – a lot of people that are trading on MtGox are selling their BTCs and are withdrawing in cash not willing to wait for the recovery of BTC withdraws. MtGox however is famous with another thing and that is the significant delays they have for processing cash withdraws, especially for European bank transfers that can take up to 6 weeks. That and the fact that MtGox has been “adding LTC trading” for months already has positioned MtGox from the place of a leading Bitcoin exchange to a literally dying exchange that is loosing more and more to other newer crypto exchanges that are more flexible and faster operating. The problem is that MtGox is now bringing the exchange rate of BTC and other cryptos in other exchanges down, so the faster MtGox either resolves the issues and restores BTC withdraws or completely shuts down happens the faster things will normalize. At the moment MtGox is just fueling panic in a lot of users and creating some good opportunities for money making for others. The question if you should be worried about MtGox killing Bitcoin should be asked the other way around – will Bitcoin kill MtGox and the answer is probably yes, or actually MtGox are killing themselves.

Bitstamp, another of the top BTC exchanges has also halted temporary Bitcoin withdraws and deposits and this also resulted in the exchange rate going down at that exchange as well. The situation here however is not as bad as with MtGox and customers using Bitstamp actually expect that the services will be resumed soon unlike on MtGox. Another among the most used BTC exchange BTC-E still has not halted operations regarding BTC transfers and although you can see some drop in the BTC exchange rate and other crypto currencies traded there as well.

Read a recent interview with MtGox’s CEO Mark Karpeles at Forbes…

cexio-bitcoin-commodity-exchange-test

The Bitcoin Cloud Hashing service CEX.IO is currently down for an hour for a scheduled maintenance (3PM-4PM GMT). This downtime includes only the CEX cloud mining services that should be restored and the miners with cloud hashrate should be compensated with brief higher hashrate than they actually have purchased as the CEX does normally when there is downtime. The maintenance mode should continue for an hour and after that everything should be back to normal. The Ghash.io mining pool is fully operational and you can use it with dedicated miners if you have any during the maintenance period.

Update: Everything is back to normal now and you should’ve received slight boost for a bit in your hashrate to be compensated for the downtime.

For more information about the cloud service and to try Bitcoin Cloud Mining at CEX.IO…


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