Bitcoin Network Fee to Fall to 1 Satoshi per 1 Byte

Average commission fee for Bitcoin transactions is $ 1.23; in December 2017 it was $55
26 March 2018   689

On March 26, the cost of the bitcoin transaction reached a record low. Users only need to pay 1 satoshi per 1 byte in order for their transaction to be included in the next block. In other words, now the transaction for a minimum commission will be confirmed in about 10 minutes.

Meanwhile, the average commission fee for bitcoins, according to bitinfocharts. com, is $ 1.23. Note that during the period of peak btc prices in December 2017, the commission for transfer of bitcoins reached a maximum of $ 55.

Among the reasons for the reduction of commissions, experts refer to the use of batch processing of transactions by large organizations and crypto-exchanges. In addition, the positive impact, they said, could be provided by the Segregated Witness scaling technology.

SegWit Transactions
SegWit Transactions

According to segwit. party, the number of SegWit-transactions continues to increase: at the moment they make up 30% -35% of all transactions in the bitcoin network.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   291

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.