Archive for the ‘Crypto News’ Category

yaamp-purchased-by-nicehash

After having trouble for quite some time, often being offline due to attacks and various other issues and even announcing that it will be shut down permamently it seems that the mining pool Yaamp has found a solution. If you try to open the official website of the pool you will notice a message saying that it has been purchased by NiceHash and the mining has been redirected to the stratum servers of the new owner. There is also a recommendation to switch to the NiceHash mining pools as after 2015-07-31 Yaamp will stop their stratum servers that are currently just redirecting to NiceHash. So if you are still mining at Yaamp you might want to consider moving either directly to NiceHash/WestHash or another mining pool.

eobot-cloud-mining-service

It seems that New York’s BitLicense regulations that recently have been finalized are already “encouraging” smaller Bitcoin businesses to either move away or stop working with users from new York. Just a few days ago we’ve had an announcement that the BTC Guild pool is closing down on June 30th citing the BitLicense regulations as one of the reasons for that decision. It seems however that the Bitcoin mining pool is not the only Bitcoin business that is taking into account these regulations as the Eobot Cloud Mining Service has also apparently taken the regulations seriously and has announced that it will stop working with users from the State of New York. Below is a quote of the official announcement:

Eobot will cease operations in the State of New York as of July 1, 2015.

To All Customers: If you are residing in and/or accessing Eobot within the State of New York, US, please withdraw all coins and cease all mining with Eobot as of July 1, 2015, as we are ceasing all Eobot mining connections from within New York at that time.

We regret that we must cease Eobot business within New York State, however the new BitLicense requirements in this state place compliance and cost burdens upon Eobot that we believe are excessive.

The Eobot Bitcoin Cloud Mining Service has been available for quite some time, probably among the oldest ones that are still operating. However we have not used it as some of its offers are not among the most profitable ones and have always seemed bit strange to us, but apparently it has large user base according to their statistics (over 224 thousand users). The service also has some sort of a downloadable miner, along with minerd and cgminer, but if you already have some mining hardware there are probably better and more profitable ways to utilize it. Still the service might be worth checking out, so we are going to.

Back on the BitLicense regulations, it seems that instead of helping Bitcoin-related businesses they will end up causing trouble for some smaller businesses that can prefer to stop operating in NY. Another, even worse outcome, could be for smaller businesses to go “in the dark” in order to avoid complying with the required regulations and continue to operate in NY without complying with the BitLicense. It will be interesting to see what will be the reaction of larger Bitcoin businesses to the BitLicense regulations, but we expect that some of these will also decide to stop operating in the State of New York…

bitcoin-price-spike

After quite some time with pretty stable, but low prices the exchange rate of BTC and LTC seems to be climbing up to more attractive levels for both miners and traders. Bitcoin has stabilized at the $250 USD level and Litecoin has reached the $3 USD level, but aside from the question what has caused the resent spikes in price there is another important question – will the prices get back to their previous levels, stabilize at their new levels or continue to rise. This is actually the hard part to predict, but the good thing is that there is finally some action going on on the market and better prices can also help the bit stagnant home mining segment… that is if they keep at a high level or continue to rise. This is especially important for small scale mining operations that are having hard time remaining profitable and with a ROI time in foreseeable future. So let us see what is going to happen in the following few days…


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