Archive for the ‘Crypto News’ Category

Coinbase Shutting Down Their Bitcoin Tipping Service

11, Feb 2015

changetip

The Bitcoin payment service provider Coinbase has just announced their plans to stop their Coinbase Tip service that allows users to easily send Bitcoin tips to other people, to support projects or causes and so on. The Coinbase Tip service will be available by the end of March and meanwhile Coinbase suggests that users of the service migrate to the alternative ChangeTip. According to the service there are about 10 thousand users of Coinbase Tip, though they probably expected that the tipping functionality will attract much more users than what is has in the bit less than 3 months timeframe that it has existed and that is the reason they are shutting it down. Interestingly enough ChangeTip actually relies on Coinbase APIs for their tipping service, so no wonder they are the recommended alternative, not to mention that ChangeTip is apparently doing much better than Coinbase Tip.

– To check out the recommended alternative Bitcoin tipping service called ChangeTip…

Mining Rig Rentals Now Offering Lyra2RE Support

3, Feb 2015

lyra2re-mining-rigs-for-rent

The service for leasing or renting your hashrate Mining Rig Rentals has added support for the Lyra2RE used by VTC (VertCoin) and some other crypto coins. There are currently 11 rigs listed at the service selling Lyra2RE hashrate, so the interest is actually not yet that big. The service Mining Rig Rentals has been the most active one in implementing support for new alternative cryto currency algorithms and thus it supports a lot of algorithms that no other similar service has available for users to either sell or purchase hashrate. So if you haven’t yet seen what MRR offers, then you might want to give them a try, regardless if you want to lease you mining rigs’ hashrate or rent some hashrate for a specific supported algorithm.

– For more information about the Mining Rig Rentals service for renting crypto mining rigs…

ASIC Manufacturer CoinTerra Files for Bankruptcy

27, Jan 2015

cointerra-bankruptcy
The Bitcoin ASIC manufacturer CoinTerra has filed for chapter 7 bankruptcy protection in the United States Bankruptcy Court, meaning it is very likely that all of the company’s assets will be liquidated in order to repay the estimated between 200 and 999 creditors. The CoinTerra website is not available anymore and it has been replaced with just a single image confirming the information for their bankruptcy filing. Take a look at https://bennerweinkauf.com/chapter-13-bankruptcy/ website to get the best legal advice.

The Cointerra bankruptcy protection form has apparently been filed on January 24th with estimated assets between 10 and 50 million USD and similar estimate on liabilities. The reason for this outcome most likely lies in the too optimistic plans of the company that apparently did not involve a situation where the Bitcoin exchange could get back down to $200 USD. A few months ago the company was still making plans for next generation of ASIC miners based on 16nm process and getting ready for the future. Some month prior to that they have tried to get into the large scale cloud hosting operations, however their plans for that probably did not get that well either. This should come as a warning to other crypto currency focused companies to make their business plans more carefully in order to avoid following the same path as CoinTerra.


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