Bitconnect suffers a second lawsuit case

Controversial cryptocurrency investment scheme is to recoup customer’s losses
30 January 2018   447

A lawsuit, second in a row for the past month, was submitted by a Kentucky resident Brian Page in connection with BitConnect. As the news of the platform shutting down hit the Internet, the price of BCC plunged that resulted in customers’ losses. Mr. Page with the lawsuit is trying to recoup his losses. The accusations are that BitConnect is operating a Ponzi scheme as BitConnect claimed to to provide a monthly return of 40 percent.

The suit also concerns an Oklahoma resident Ryan Massen. It is said that Mr. Maasen acted as an unregistered agent for BitConnect, and used the misleading potential of returns to profit from fooled investors.

This lawsuit however limits itself to the companies only associated with BitConnect and Mr. Maasen.

Twitter reactions are malevolent and somewhat righteous:

@Rellsince86 said «Funny how all these Bitconnect guys keep deleting videos but then also saying «I didn’t do anything wrong» lol we shall see what happens».

@rocco8081 said «These people are going to screw up the entire market because they could not think for themselves! These individual people suing should have never invested in the first place».

@loudcrypto3 said «When will people learn!?! Do your research!».

@evstigneeff said “«Yeah! All "lending" crap should get sued!!!».

ACINQ to Release Lightning API For Bitcoin Mainnet

Strike is API for easy acception of Lightning network payments
25 May 2018   33

Developers from ACINQ presented a version of Strike API for Lightning-payments in the main bitcoin network.

Strike is an API for easy acception of Lightning payments. From a technical point of view, the service works as follows: ACINQ receives and aggregates incoming payments, and then periodically sends transactions to the recipient's wallet. In other words, companies can offer their clients instant and low-cost payments, receiving funds through the usual cash transaction.

We take a 1% fee on payments, and that’s it. Automated payouts to your Bitcoin wallet are free of charge, because we batch them among merchants. The threshold for automated withdrawals can be set between 0.1–1 BTC.


Also, users can make a payment to the wallet manually, however in this case you will have to pay a commission of 0.5 mBTC.

According to ACINQ representatives, although using Strike and assuming the need to trust a third party, the level of risk is minimal, since the service sends an onchain-transaction every time the total amount of payments reaches a user-adjustable threshold.

The developers noted that the Strike integration with the WooCommerce plugin is currently underway. In addition, ACINQ is considering the possibility of partnership with the Canadian Internet company Shopify, which specializes in developing software for online and retail stores. The company serves 500,000 trading companies with a combined turnover of $ 45 billion.