In late December, we published a review of the service hashcoins datacenter. Platform refers to the Estonian company Hashcoins and allows you to rent power for mining Bitcoin, Litecoin, Ethereum and zcash for. The main feature of contracts for the year. In the end, we recommended to contact service, but not on last money. It seems to profit on BTC now will not be easy. The company broke existing contracts and in addition introduced a proof of identity for users.
What happened to hashcoins datacenter
Yesterday the management of sites shared record. Tweet intrigued and already hinted at something negative.
Dear users! As you know, the last few months have been a difficult time for the cryptocurrency market, which has also affected the operation of our service. FMI: https://t.co/hXGCMyIAWe
— Hashcoins datacenter (@hashcoins datacenter) July 20, 2018
Fears were confirmed. All items contained in a post on Facebook. The staff began with water on a bad situation in the market of cryptocurrencies.
As you know, last months was a difficult time for the cryptocurrency market, which could not affect the operation of our service.
We have made every effort to resolve problems — in particular, we have considered a number of technical solutions that were supposed to allow us to reduce the costs of maintenance and electricity. However, due to General market instability the decisions we are unable to significantly affect the circumstances.
Then came the specifics, including the recent problems of users.
More than a month, our users faced a situation when the sum of payments on the contracts were lower than the service charge, which charges the balance was zero: as 18.07.2018 the payment is not made within 28 days.
The management decided not babysit and cut off the ends. In other words, tore up existing contracts.
In the end, staff expressed hope for a quick normalization of the situation and other obvious things.
What does it mean
Now users simply will not earn income in the future, notwithstanding the payment. Some contracts were valid for another few months, so the amount of damage is significant. However, as mentioned above, the service is stopped in accordance with item usage rules, so to threaten staff court makes no sense.
Users in social networks are indignant. Many are demanding compensation and called the failure of the company to bring the contract before the end of his actions a bad call. Someone has agreed to accept the donation of used ASIC miners. Saying that if mining is unprofitable, the company’s devices are unlikely to need.
Other news hashcoins datacenter
The elimination of contracts, the company has not stopped. In addition, the service established a procedure of user’s identification for compliance, KYC and AML. The first acronym is hidden the principle of “know your user”, while the second involves legislation against money laundering.
After completing the procedure, users will receive a bonus in the form of increasing the daily limit on withdrawals. The figure is tiny, and in user account it is shown as 0.
It turns out that users are not only left without contracts, but have to share with the service their documents. Because it’s the only way normally to use the platform, consider the process in more detail.
How to hashcoins datacenter verification in accordance with KYC and AML?
Identity verification should not cause difficulties. The procedure takes place in two stages. To start, go to profile and correctly and truthfully filled in all the necessary information next to the fields with asterisks.
The second stage is more serious. Go to account settings and select the tab “Verification”. Then choose a suitable type of identification document and enter the number. The final step is to upload images of the cover and the main pivot of the passport or both sides of a document that confirms the identity.
The service accepts passport (double page), national identity card or driver’s license. Other instruments are not suitable.
Requirements: image in JPEG format, the validity of the document, quality and readable images with HQ camera or scans, no image editing in graphics editors. On selfie looking at the camera, do not close these documents with your fingers, and do not wear glasses, hats or other items that cover the face.
What will happen next
The situation is ambiguous. If management will not share the numbers that prove unfavorable to mining, user confidence will be undermined. The fact that the contracts and the equipment remain in the hands and service. So, if tomorrow the exchange rate of Bitcoin will jump to 15 thousand dollars, and mining will become profitable, all the profit will go hashcoins datacenter. Contracts cancelled after all.
However, even confirmation, is unlikely to satisfy the people who lost money. Perhaps the company will come to reimbursement of the cost of incomplete contracts. We continue to monitor the situation and discuss it in our Telegram.-ciprocate.
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