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Bitcoin Cloud Mining Platform Cloudminr.io Allegedly Hacked, Unencrypted Database For Sale

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Bitcoin has been plagued by lots of companies offering the next big thing in “cloud mining”, and eventually turning into a scam.  That list has grown quite long in recent months, and the latest name on the list is Cloudminr.io.  According to the company’s website, somebody hacked their database and exposed all of the user accounts.

The Volatility of Bitcoin Cloud Mining ServicesCloudMinr.io

For those among us who have been involved in Bitcoin for quite some time, cloud mining has always been synonymous with a huge potential for a scam company.  Granted, there are a handful of legitimate Bitcoin cloud mining companies out there, such as CEX.io, Bit-X, and Genesis Mining.  But for every legitimate company, there are at least a handful of Ponzi schemes and scam sites as well.  Read more...

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Cloud Mining Service Scrypt.CC Breached, Majority of Stolen Funds Not Belonging to Customers

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Bitcoin cloud mining has been in a state of flux over the past six months. For the most part, this situation stems forth from the Bitcoin price that is far below the target to make cloud mining even remotely profitable. That being said, several cloud mining operators decided to remain in business, in the hopes of seeing a price increase in the near future. And for some companies altcoins seemed to be the Holy Grail of cloud mining for now.  Read more...

This is a preview of Cloud Mining Service Scrypt.CC Breached, Majority of Stolen Funds Not Belonging to Customers. Click Here To Read the full post

What Is Bitcoin? – Bitcoin Mining (Part II)

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If you are an avid reader of the novice Bitcoin guides we post on this website, you will remember how we talked about profitability in part one of the Bitcoin mining guide. Given the upfront hardware investment costs, shipping costs and possible import VAT fees before you can even get your Bitcoin miner set up and running, it may be a wise choice to look for other options. Bitcoin cloud mining is an alternative way of mining Bitcoins without the hassle of installing a Bitcoin miner at home.  Read more...

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Cointellect Re-Enables Dogecoin Withdrawals For All Users

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Cointellect is a company with a lot to prove to both existing and potential new customers these days. Even though the company has seen a lot of initial success, they also got overwhelmed by it which caused payment delays among other issues. The recent contract changes the company announced didn’t help matters either. But by looking at their recent announcement, things might slowly start returning to normal.

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LTCGear Payouts Delayed Since December 2014 Due to Various Attacks, New ASICs Announced

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By the looks of things, there are even more problems brewing in the world of digital currency cloud mining, as the popular LTCGear service has been delaying payments for nearly three months now. It has to be said however that their service operators are still active, as they recently reminded their customers about the yearly maintenance fee which has to be paid. Something smells fishy to me, so let’s take a look, shall we?

LTCGear – One of the Many Victims of the Falling Bitcoin Price

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Cointellect Freezes All Withdrawal Methods, Changes Contract Payouts Overnight

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Cointellect remains a cloud mining company surround in mystery, complaints from customers and multiple questions regarding their contract payout structure that seem to remain unanswered for the time being. Late last night, their team posted a new update in regards to the freezing of all withdrawals and the immediate change of contract’s earnings to reflect the current Bitcoin price.

All Withdrawal Methods Temporarily Unavailable

In our previous Cointellect articles, we already mentioned that the Paypal withdrawal option has been disabled for a while, and CryptoPay was only available to customers with a specific contract or higher. Needless to say, being stuck with one withdrawal option available to anyone, which is subject to a 20% withdrawal fee on top of that, did not go over well with the crypto community.  Read more...

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Cointellect Still Paying Out Customers Despite Many Reports Saying Otherwise

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Digital currency cloud mining is still in a pickle, which has only gotten worse after Bitcoin prices dropped below US$220 once again yesterday evening. As a result of that, cloud mining service operators are either forced to shut down (temporarily), come up with new mining contracts, or try something entirely different. Needless to say, a lot of companies are facing scrutiny right now, as every move is being looked at from multiple angles. Cointellect, a relatively new player in the cloud mining world, is facing the biggest amount of scrutiny to date.

Cointellect – Profitability and Payout Delays

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Cointellect Review : Some Shortcomings That Need To be Addressed But Not a Scam

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Cloud mining services remain an interesting topic as the Bitcoin price makes up its mind on whether to move horizontally or vertically. Several cloud mining providers have halted their services for the time being, while others are fighting tooth and nail to remain (somewhat) profitable. Cointellect on the other hand, does not seem to be too affected by the Bitcoin price changes, although they are battling different issues of their own.

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ZenMiner Shuts Down Bitcoin Cloud Mining Operations Without Warning

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While the Bitcoin price keeps hovering around the US$230 mark over the past few days, Bitcoin cloud mining services are once again facing a serious threat to their profitability plans. As we have seen a few weeks ago, several Bitcoin cloud mining services had to suspend their operations for the time being. By the looks of it, ZenMiner has suspended their cloud mining operations as well.

ZenMiner Disables Cloud Mining

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Cointellect Interview : “We Are Working on Issuing Mastercard Travel Cards To Our Customers”

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During the Bitcoin Expo 2015 in London this past weekend, we had a chat with one of the Cointellect representatives regarding their cloud mining service. As I am also one of their paying customers, I managed to ask some questions to which I received fairly satisfying answers. I have written down the answers in an interview format below, for your reading pleasure.

Note from the author : We also had a drink with Daniel Fonseca, the Cointellect PR Manager. However, all of the information he disclosed was to be kept off the record, so we oblige to his request.  Read more...

This is a preview of Cointellect Interview : “We Are Working on Issuing Mastercard Travel Cards To Our Customers”. Click Here To Read the full post

ZeusHash Unveils New Bitcoin Cloud Mining Contract & Lowers Maintenance Fees

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A few days ago, we mentioned that ZeusHash was working on creating a new Bitcoin cloud mining contract for their new and existing customers. Not too many details were known at that point other than the fact that maintenance costs would be reduced drastically. The latest ZeusHash newsletter – which was sent out yesterday – contains all of the relevant information, so let’s take a look!

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Genesis Mining: “We Have Not Yet Reached The Point Of Negative Cloud Mining Operations”

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In the light of all the recent commotion surrounding Bitcoin and altcoin cloud mining, several companies have either halted operations for the time being, or issues warnings about the current unprofitable state of their services. Genesis Mining, a German-based cloud mining company and one of our major advertisers on this website, has come up with an interesting solution to address the current state of altcoin cloud mining.

Scrypt Cloud Mining Even Less Profitable Than Bitcoin Cloud Mining

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This is a preview of Genesis Mining: “We Have Not Yet Reached The Point Of Negative Cloud Mining Operations”. Click Here To Read the full post

ZeusHash Announces New Bitcoin Cloud Mining Contract

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ZeusHash, one of the few remaining legit Bitcoin cloud mining services, recently announced their new cloud mining contract. In order to stay profitable for miners, the ZeusHash team had to work out a deal with their partners in order to further reduce maintenance costs while the price per BTC is lower than anticipated at this time of year.

New Bitcoin Cloud Mining Contract

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ZeusHash Bitcoin Cloud Mining : Unprofitability, New Contracts, Scrypt Mining Not Affected

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Other Bitcoin news sites are claiming that ZeusHash is facing a cloud mining shutdown in the near future. After we reached out to ZeusHash, we learned this is not yet the case, although the company issued a warning in regards to the current unprofitable state of Bitcoin. Let’s report on what is actually going over at ZeusHash.

Current Bitcoin Price is Unprofitable for Cloud Mining

It is no secret that Bitcoin cloud mining at current prices is far from profitable. In fact, most miners are cloud mining at a loss on a nearly daily basis right now. Popular bitcoin cloud mining service CEX.io has already suspended their cloud ;ining operations for the time being, and other companies may have to follow the same route.  Read more...

This is a preview of ZeusHash Bitcoin Cloud Mining : Unprofitability, New Contracts, Scrypt Mining Not Affected. Click Here To Read the full post

Ponzi Scheme Operators Targeting Unhappy Bitcoin Cloud Mining Customers

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Ponzi schemes are still running rampant through the world of Bitcoin and other digital currencies. Despite the massive losses by “investors” when CryptoDouble shut down, people still keep investing their Bitcoin into other ponzi schemes in the hopes of making a profit while the program is relatively new. As a result, we also see new “types” of ponzi schemes appear, such as PonziCloud.

PonziCloud – Bitcoin Cloud Service

Needless to say, ponzi scheme operators are adapting to the current situation involving Bitcoin and cloud mining. With several companies forced to pause their cloud mining operations, as well as several ASIC manufacturers going bankrupt or even disappearing altogether, Bitcoin mining is not in a good state right now.  Read more...

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CEX.IO : “We Need a Bitcoin Value of US$320 At Current Difficulty To Make Cloud Mining Profitable”

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A major announcement was made yesterday afternoon by CEX.io, as they decided to put all of their Bitcoin cloud mining efforts on hold due to unprofitability. While this change has to do with the current Bitcoin price drops, it looks like cloud mining on CEX.io will not be resuming any time soon. Here is some more information unveiled by the team earlier today on Bitcointalk.

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This is a preview of CEX.IO : “We Need a Bitcoin Value of US$320 At Current Difficulty To Make Cloud Mining Profitable”. Click Here To Read the full post

CEX.IO Eliminates Customers’ Chance of ROI Due To High Maintenance Fees

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Bitcoin mining at home is something of the past. I often find myself reminiscing about the fact how I could mine some chunks of a Bitcoin with an Nvidia graphics card back in the days. Ever since the big Bitcoin ASICs hit the market, that situation changed drastically, and in the end, a lot of people had to turn their attention to Bitcoin cloud mining. But is that as profitable as some might think?

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Genesis Mining : Scrypt Cloud Mining Contracts With Lowest Price For a Limited Time

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Genesis Mining, one of the top brands in the cryptocurrency cloud mining space, is once again offering Scrypt cloud mining contracts to their customers. Due to overwhelming demand, these contracts were unavailable for a time, but this matter has been resolved. If you are interesting in buying a Genesis Mining Scrypt cloud mining contract, you might want to make up your mind soon though, as there are certain limits in place.

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This is a preview of Genesis Mining : Scrypt Cloud Mining Contracts With Lowest Price For a Limited Time. Click Here To Read the full post

Cleverhash Provides More Details on Satoshi’s Cloud

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When we did our original Cleverhash articles, which you can find here and here, a lot of people still had questions about what Satoshi’s Cloud actually brings to the table that other platforms can’t (at this point in time anyway). The Cleverhash team took some time out of their busy schedule to tell us a bit more about that, so let’s take a peek!

While there are certain similarities between Satoshi’s Cloud (Cleverhash’s cloud mining platform) and other cloud mining services, there is one major difference everyone needs to be aware of. Users can purchase scalable hashrate on Satoshi’s Cloud, but instead of that money ending up in the pockets of the people running the cloud mining platform, it will go directly back to the community members selling their hashrate.  Read more...

This is a preview of Cleverhash Provides More Details on Satoshi’s Cloud. Click Here To Read the full post

ZeusHash Lowers Bitcoin Cloud Mining Prices Again, Announces HashBuff

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The cryptocurrency cloud mining business is booming, as there are quite a few of competitors who try to keep one-upping each other on a weekly basis. Services such as ZenMiner, Genesis Mining, LTCGear, ZeusHash,…. it’s hard to pick your poison at times. ZeusHash has just reduced their prices AGAIN, for the second time in as many weeks.

New Price Plan for Bitcoin Cloud mining

We mentioned in our previous ZeusHash article there would be a special price reduction during HalloWeen week. By slashing prices by up to 50% and offering zero maintenance costs for the first seven days of operations, a lot of new customers were brought to the ZeusHash platform.  Read more...

This is a preview of ZeusHash Lowers Bitcoin Cloud Mining Prices Again, Announces HashBuff. Click Here To Read the full post

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