Bitfinex Now Supports SegWit

Today Bitfinex announced that it now fully supports SegWit for lower BTC fees and faster processing times
20 February 2018   591

Bitfinex announced support for bitcoin deposit and withdrawals using P2SH Segregated Witness (SegWit) addresses. Segregated Witness is a Bitcoin protocol improvement that facilitates scaling. From this moment, Bitfinex users can benefit from lower BTC withdrawal fees (approximately 15%) and improved processing times on transactions across the Bitcoin network.

Bitfinex users can now use SegWit-enabled bitcoin wallets to send and receive BTC. To start using it, users will need to generate a new deposit address from their Bitcoin deposit page to receive a SegWit-enabled address, which will start with 3.

SegWit is the process of increasing block size limits by separating signature data from transactional data in bitcoin transactions. SegWit will also effectively fix transaction malleability. This process will also provide future for also Bitcoin development efforts, including the implementation of Lightning Network.

As a premier exchange, Bitfinex is committed to improving its market-leading offering for our loyal and discerning customers. SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development. By supporting SegWit addresses, Bitfinex is tackling three of the biggest crypto-enthusiast concerns: transaction fees, transaction speed, and total network capacity. We are delighted that through this implementation we can provide our customers with bitcoin withdrawal fees that are up to 20 percent lower, as well as faster-than-ever transaction speeds.

Paolo Ardoino

Bitfinex CTO

It is important to note that SegWit is implemented for Bitcoin only — not Bitcoin Cash.

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.