First Lightning crosschain swap from BTC to LTC performed

Atomic swap between Bitcoin and Litecoin successfully performed
17 November 2017   1929

First transaction between Bitcoin and Litecoin performed using the Lightning Network.

The ability to instantly exchange currencies using the Lightning solution offers a number of advantages, such as instant settlement, increased privacy and low commission fees.

Under the hood, the Lightning Network uses a special type of payment called a Hashed Time-Locked Contract (HTLC). HTLCs are structurally very similar to the contracts used in our previous example—they use timelocked refunds for safety, and atomically move funds by revealing preimages. In fact, at the scripting level, an HTLC is differentiated only by one additional clause, which can be used to indefinitely extend the life of a channel in the cooperative case.

Lightning Team

First successful atomic swap is a big step for whole cryptocurrency community and for the blockchain technology. 

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   97

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.