Archive for the ‘Crypto News’ Category

bit-mining-cloud-mining-service

The Bit Mining cloud mining service for LTC and BTC is still not back to its normal and fully functional state, though things are slowly getting back online, but it could take some more time. Meanwhile there is an official statement from the guys behind the cloud mining services that reveals some more details on what has actually happened in the last few days and why is the service still not fully operational and back online…

Hello Bit-Miners,

We apologize for the unintended interruption in service; let us bring you up to
speed on the current situation over at Bit-Mining

Over the last few weeks, we have suffered a series of attacks against our
pools by a would-be hacker. This will explain the frequent and clustered pool
down times we have been experiencing; we have been doing our best to guard
ourselves against these DDOS attacks.

In the past few days however, the actions of our assailant have escalated, with
ransom demands and threats that have ultimately culminated in an intrusion
attempt on our server. Thanks to the valiant efforts of our TECHs, and security
considerations already in place, we were able to fend of this attack with
minimal damage. Our wallets were completely unaffected by the attack;
however, we have experienced corruption of our trading database and are
working to restore it to its pre-intrusion state. Let me clarify; NO USER FUNDS
OR ASSETS HAVE BEEN AFFECTED. ALL MINING HARDWARE
(that represents
your Purchased GHs/KHs) IS ALSO SAFE. Because of the corruption of the
trading database, we are suspending the Trading feature until we can get
everything sorted out with certainty.

If you had a BTC/LTC balance before we experienced down time; it should be
accurately reflected in your account balance currently and available for
withdrawal. We are expediting withdrawals for the time being to alleviate user
concerns. However, due to the way the database has been reconstructed,
there may be a few users with incorrect monetary balances; simply contact us
at support@bit-mining.co so that we can take an individual consideration of
your account and make it whole. This is also true for GHs/KHs balances, most
should be correct but there may be a few users with unique circumstances.
Mining power that is in pending orders will also be restored once we resume
trading. To all users having issues with referral counts, this is to be expected
and will be resolved soon. If you have an issue after that just contact us and
we will sort it out.

If you cannot regain access to your account, first attempt to reset your
password.

All withdrawals should have been processed before we went offline; and we
also have a record of all requested and satisfied withdrawals; if you are
currently awaiting one check to make sure you haven’t received it. If you still
haven’t received one that you know you requested, send an email to
contact@bit-mining.co with subject STUCK WITHDRAWAL, we will patch you
up.

Also, to ease concerns about mining payouts, no user has been paid out since 
3/07/14 (as we have been down since then), but everyone will be reimbursed
for Purchased GHs/KHs payouts whether or not they were in orders at the
time; we will not penalize the user for the inability to gain account access
during our downtime.

We sincerely apologize for any inconvenience this outage may have caused our
users.  We give our users our assurance that we will investigate each and
every user issue until eventual resolution; but we ask  that users hold non-
account access and withdrawal related issues until after we resume trading.
The maturity of our users about this matter is greatly appreciated during this
difficult time. We still remain committed to providing a superior cloud mining
experience with the most competitive pricing we can provide. We hope that
users observe our handling of this situation as an indication of our dedication
to this project.

As soon as I get a more precise ETA on trading being re-enabled from our
TECH department; I will update everyone via email and forum post. Chat
restrictions are lifted in order to facilitate user issue resolution, and I will be
available in site chat to answer any individual user questions.

If you have any additional concerns or questions please don't hesitate to
contact us. I apologize again for the hassle this has caused everyone.

BMC Support

For more information about the Bit Mining BTC/LTC cloud mining service…

newsweek-satoshi-nakamoto

It seems that Newsweek has been able to find the real Satoshi Nakamoto who has created the Bitcoin crypto currency, and they have tried to dig up as much as possible information about the person that has started the crypto currency revolution. So if you are interested about the maker of the digital currency, who and what he does, then you might want to check out the details, though they are actually still not that many. The story is interesting enough though, so definitely worth the read if you are into crypto currencies.

To read the full Newsweek article about Satoshi Nakamoto, the creator of Bitcoin…

ltcrabbit-new-alternative-cryptos-added

We liked the LTC Rabbit Scrypt mining pool as soon as we have tried it for the first time a few weeks ago when DOGE was in its peak in terms of higher profitability compared to LTC. The pool has been running stable and reliable and had a nice altcoin bonus on top of the earnings if directly mining for LTC, so a perfect choice for a backup pool that will still ensure higher profitability than directly mining for Litecoins. However lately there haven’t been any extra altcoin bonus been given by the pool and it was mining LTC most of the time anyway. The reason for that was that DOGE was not so profitable to mine anymore and the other alternative cryptos such as WDC or MEC did not perform any better than directly mining for LTC. It seems that the pool has added a few more newer and supposedly more profitable alternative cryptos including the lately very popular AUR crypto, so that it can start giving away extra altcoin bonuses again. We still have the pool as our backup mining pool and our primary one for the moment remains ScryptGuild, so check that one as well if you still haven’t.

For more information about the LTC Rabbit scrypt mining pool and to check it out…


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