BitPay makes scandalous announcement on SegWit activation

BitPay makes a scandalous announcement on the upcoming SegWit activation
18 August 2017   2304

BitPay, one of the world's leaders in Bitcoin payments, made an announcement concerning the recommendations on the need to update the software of the nodes before the next week activation of the Segregated Witness (SegWit) protocol.

However, the community immediately noticed that the company insists on activating the BTC1 client, that is the code underlying the SegWit2x offer and in fact proposes to abandon the Bitcoin Core client.

For now, 100% of the miners already support the Bitcoin Core code signalling in support of the protocol. Thus, no separate code is required for this, especially since the fixation of SegWit has already taken place.

BitPay, in its turn, offers the operators of the node to perform another update, this time to the BTC1 client, which, in addition to activating SegWit, also provides for the network's hard-fork with an increase of the block size to 2Mb.

In fact, BitPay tries to mislead the users, because, as noted above, no additional update is required to support SegWit.

The news caused a great resonance in the cryptoworld society.

Thus, Peter Todd, the developer of Bitcoin Core directly accuses BitPay of fraud as the company does not mention SegWit2x anywhere in its record, activation of which is provided by the BTC1 client. Instead, BitPay uses the term SegWit exclusively.

SegWit activation is to take place on August, 22th, so we'll keep you updated.  

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.