BitPico has abandoned the SegWit2X implementation

One of the last supporters of SegWit2x hardfork now refuse to implement it 
13 November 2017   837

The bitPico mining pool stated that it is refusing to implement the SegWit2X hardfork.

Last week, a group of SegWit2X supporters, including developer Jeff Garzick, BitGo head Mike Belsh and Cihan Wu of Bitmain, said that they were abandoning their plans because they did not see consensus within the community.

After a short time, a statement of a little-known bitPico mining pool appeared, claiming that it controls about 30% of the bitcoine hash and intends to implement it in any case.

However, as follows from a letter on the Linux Foundation, now this statement is also withdrawn.

We are backing out of the SegWit2x effort; the markets have spoken. People who like big blocks have Bitcoin Cash and people who like Layer-2 Networks, Compact Binary Transactions, UDP FEC Global LEO SAT coverage, encrypted TCP channels, experimenting and etc have Bitcoin. We are immediately reverting all SegWit2x specific changes in our codebase (2MB block size logic, DNS Seeds, segwit2x service flag, etc). Lastly; In the future we will be simply following the longest chain of work and doing more R&D instead because this working group has been nothing but a waste of time for everybody involved except the pump and dumpers and the inside traders. May the fork be with you...
 

BitPico Statement

 

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   91

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.