Posts Tagged ‘Bitcoin (BTC)

mtgox-btc-low-exchnage-rate

This is something interesting, usually MtGox has significantly higher exchange rate for BTC/USD than on other Bitcoin exchanges, but now the exchange on MtGox is actually lower than on other exchanges. The reason for that might be related to a problem that the exchange currently has with BTC withdraws, so maybe now more people are exchanging and withdrawing in cash. Below you can find the official statement regarding the problem from MtGox, the good news it that everything should be back to normal in Monday… hopefully.

Dear MtGox Customers,

In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state.

In order for our team to resolve the withdrawal issue it is necessary for a temporarily pause on all withdrawal requests to obtain a clear technical view of the current processes.

We apologize for the sudden short notice. All bitcoin withdrawal requests will be on pause, and the withdrawals in the system will be returned to your MtGox wallet and can be reinitiated once the issue is resolved. The trading platform will perform as usual for the needs of our customers. 



Our team will resolve this problem as soon as possible and will provide an update on Monday, February 10, 2014 (JST).



We deeply apologize for the inconvenience caused, and thank you for your kind support and considerations. 


Sincerely,

The MtGox Team

new-bitcoino-dfficulty-increase-chart

The Bitcoin Difficulty has just gone to 2,621,404,453 up from 2,193,847,870 or with other words we have an increase of 19.49%. It is interesting to note that the increase of difficulty this time is the lowest in terms of percentage than the increase of the previous five times. So less than 200% is not bad at all for the moment, giving us some more time before the Terahash ASICs start appearing on the market and the difficulty starting to grow at a much higher pace. Luckily we’ll probably have another difficulty increase before users start receiving their pre-ordered THS ASIC devices and we are probably looking at another 20-25% for the next difficulty increase.

Bitcoinwisdom is a good place to keep a track on Bitcoin difficulty…

usb-dualminer-asic-on-ebay

The first Dualminer USB ASIC devices that can simultaneously mine Litecoins (LTC) and Bitcoins (BTC) and alternative crypto currencies based on scrypt and SHA-256 that we’ve already mentioned here have started appearing on eBay. These devices based on a single Gridchip GC3355 processor chip from Gridseed are rated as capable of: 500MH/s SHA-256 and 40KH/s Scrypt when operating for mining both, or 1.6GH/s when mining only BTC or 70KH/s when mining only LTC. Again, price wise these are not very interesting products, unless you want to be able to try the Gridseed chips and see how well they can perform. What would be more interesting are multiple-chip devices that offer significantly higher performance, but the good thing is that things are finally happening for Gridseed and we are actually seeing devices based on their innovative dual mining SHA-256 and Scrypt at the same time Gridchip GC3355 chips.


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