Bitcoin Core Wallet Now Supports SegWit

Segregated Witness was introduced in August of last year and promised to bring noticeable efficiency changes to the Bitcoin network  
20 February 2018   616

Till now, many in the Bitcoin world were slow to adopt the new technology including developers of the Bitcoin Core Wallet. Today, SegWit was finally implemented with the released version 0.16.0.

Segregated Witness is a Bitcoin protocol improvement that facilitates scaling.The upgrade redefined the structure of blocks, changing one block from 1MB to become four million units. Witness data became serialized as just one unit. It will allow storing more transactions in each block, leading to less load on the network, faster transactions and lower fees.

It will also allow for the introduction of further upgrades such as Lightning Channels, established payment paths that would further ramp up transaction speeds.

Bitcoin wallet adoption of SegWit may result in an increase in the use of the technology. Currently, only 15% of Bitcoin transactions currently employ SegWit.

The major gateway between the fiat and cryptocurrency worlds has also scheduled SegWit implementation, with the update expected in the coming weeks following heavy pressure.

Supporters of this technology hope that it will be able to overcome the high transaction costs and long waiting times that users have recently struggled with under periods of high load.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   108

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.