Archive for the ‘Crypto News’ Category

MtGox Exchange Rate Still Going Down, BTC Withdraws not Yet Resumed

20, Feb 2014

mtgox-exchange-rate-still-going-down

In a previous statement regarding the situation with the suspended BTC withdraws at MtGox the company has said that this Thursday (today) they could restore the normal operations including BTC withdraws as they have worked on a workaround to prevent fraudulent use of the reported malleability issue with BTC transactions. Today however they have released an update on the situation and they still haven’t restored normal BTC withdraw operations while meanwhile the exchange rate of BTC at MtGox continues to fall and is closing to $100 USD mark. The good thing is that the exchange rate of BTC in other major exchanges has stabilized already and is not affected that much by MtGox’s very low rate because of the BTC withdraws being suspended there for a while already. Below is the official statement from MtGox from today:

Thank you for your patience this week while we are working on re-initiating bitcoin withdrawals. In addition to the technical issue, this week we have experienced some security problems, and as a result we had to relocate MtGox to our previous office building in Shibuya (details can be found here https://support.mtgox.com/home). The move, combined with some other security and technical challenges, pushed back our progress.

As much as we didn’t want to only provide an “update on an update”, this is the current status. We are committed to solving this issue and will provide more information as soon as possible to keep everyone in the loop.

We are very sorry for the delays and deeply appreciate your kind understanding and continuous support.

Best regards,
MtGox Team

Litecoin Difficulty Up Again, DOGE Profitability Getting Better Again

17, Feb 2014

litecoin-hashrate-new-difficulty-change

Litecoin (LTC) difficulty has gone up again for the next 3 days. After DOGE coin moved past block 100000 and the reward per block was halved and the recent fork on the DOGE network accompanied by panic sell from some users things are finally getting back to normal. What also helped for that was the adjustment of difficulty for the LTC, going up by a bit more than 19% to 3207 has made DOGE much more profitable to mine at the moment. The DOGE difficulty has also decreased a bit, so as soon as the pool you are were mining DOGE has updated their DOGE software you can move back to mining DOGE again. Another good thing with the increase of the DOGE profitability, our new favorite backup pool LTC Rabbit has again started mining alternative cryptos such as DOGE and pays alt coin bonus after a few slow days with only LTC being mined. For the moment the alt coin bonus payed in LTC is small, but it should increase more after the next 4 hour shift is over due to the increase of DOGE profitability. Hopefully things with the recent BTC exchange issues will continue moving in the right direction and we should see the exchange rates for bot LTC and BTC starting to get back to their normal levels.

DOGEcoin Network Fork Causing Momentary Panic Sale

17, Feb 2014

dogecoin-fork-panic-sale

There was a momentary panic sale apparently caused by a network fork for DOGEcoin, but it seems things are getting back to normal now. There could be some delays processing transactions though due to some pools and exchanges not running the latest version of the doge client software, and some pools such as Multipool have temporary disabled DOGE withdraws until they fix the problem. Just don’t get the panic get a hold of you, things are already getting back to normal. Below is some info from the developers:

The network has forked around block 104678. From my first investigation, it looks like the version below and above 1.5 disagree on the correct blockchain. Currently, the clients below 1.5 stopped accepting new blocks. Solely the 1.5+ clients are now generating and accepting new blocks. Older nodes will generate blocks too, but those will be rejected by the network as 1.5+ nodes are used by more than 51% of users.

THIS IS NOT A 51% ATTACK!

We are actively looking into why this happened. I can’t say much yet (I’m at work), but the safest currently is updating your client to 1.5.1.

Pool owners: I know about that issue with 1.5+, but there is currently no other way, as we can’t patch 1.4 so fast. We have to investigate why that fork happened. A debug.log of a 1.4 node could help.

Try to reduce your transactions to a minimum while this is being worked on. Check your block count in the bottom right corner of your wallet to see on which side of the chain you are. As of writing this, my client shows ~104773 blocks. This seems to be the currently longest, therefore “correct” chain.

– You can find more information about the DOGEcoin network fork here…


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