Archive for the ‘Crypto News’ Category

The controversy surrounding the release of a number of CryptoNight ASIC miners from various manufacturers and the upcoming fork of Monero (XMR) and some other crypto coins to a new ASIC-proof CryptoNightV7 algorithm continues. NiceHash has recently announced that they will continue to support both the old CryptoNight as well as the new CryptoNightV7 algorithms. The service should add support for the new V7 algorithm by the end of the month, probably before the Monero fork planned to happen later this month. Furthermore a new NiceHash Miner that will bring support for the CryptoNightV7 algorithm should also be available soon, so while the updated POW algorithm will be ASIC-proof you would still be able to rent a lot of GPU hashpower apparently.

Other crypto coins that are using the same cryptoNight proof of work mining algorithm are expected to follow suit and also fork to the new ASIC-proof version of CryptoNight, though it would most likely take them some extra time. There are some coins that have already announced their plans to do a hard fork and follow in the footsteps of Monero (XMR), others are still considering and of course there will be some for sure that will remain on the old algorithm that can be mined using the upcoming wave of CryptoNight ASIc miners. Still going for a CryptoNight ASIC miner at the moment is considered very risky and will most likely cost you much more that you would be able to mine back, though there are no guarantees.

To keep track of the time left until Monero (XMR) hard forks to the new CryptoNightV7…

Google is taking an aggressive stance regarding advertisements of cryptiocurrencies and other related content, a move apparently as a direct result of concerns regarding ICOs and the scams surrounding some of them. The company has announced that it is going to ban crypto-related ads on their platform, so crypto advertisers will have to find other ways to promote their content starting June when Google will not be an option anymore. The updated financial services policy for ads on Google’s platforms is not going to affect only crypto currencies, but other financial products as well.

Back in January Facebook announced it will ban advertisements promoting cryptocurrencies and initial coin offerings due to concerns of misleading and deceptive ads being shown on their plaforms that could lead users to scams. Facebook’s ban also covered other financial products and services and not only crypto currencies and although it has been in effect for a while one could still see some crypto-related ads on Facebook.

The good news is that there are already some platforms available and others are popping up that are targeting the crypto currency advertisement space. Unfortunately these platforms also do have the same issue that Google and Facebook are facing – concerns that some of the advertisers might try to mislead and scam users.

To read more about Google’s new restricted financial products policy regarding ads effective from June…

NiceHash has announced its plans to start reimbursing all users that were affected by the security breach that happened on December 6th last year starting this Friday, February 2nd. The NiceHash Repayment Program will initially reimburse 10% of the old balance amount to all users that were impacted by the security breach. NiceHash will continue to periodically repay the remaining amount to all users in the coming months untill the full amount from the old balances is paid back. The old balance will be repaid in Bitcoins (BTC) and not in the fiat value or any other cryptocurrency…

Repayment program for internal wallet users
Users that were registered on the NiceHash platform before December 6, 2017 can log in to their account and can see their old balance tab under the Wallet section on their Dashboard. The old balance shows the total amount of Bitcoins (BTC) that users had on their wallet address prior to the attack. This balance will be fully reimbursed by NiceHash to users current balances, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Registered users should enter the Repayment program by clicking the “Enter repayment program” button on their Dashboard. Users will be notified about all future payments in advance.

Repayment program for external wallet users
Users who were not registered with NiceHash at the time of the attack and were using the NiceHash service with their external wallet address will also be reimbursed in the same way as internal wallet users. External wallet users can go to the following page and enter their external wallet address (that they were using at the time of the attack) to see their old balance. This balance will be fully reimbursed by NiceHash to users external wallet addresses, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Users will also be able to monitor repayment progress on the miner page.

Conditions for payment to external wallet addresses do apply with the Repayment program. When you reach 0.01 BTC you are eligible for payment. NiceHash will include your old balance in this amount. For example, if your old balance (that is going to be reimbursed) is 0.009 BTC, you still have to mine an additional 0.001 BTC to this external wallet address so you reach 0.01 BTC in total. Once the combined balance shows 0.01 BTC, payment will be made to your external wallet address.


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