LocalBitcoins not to support Bitcoin Cash

Peer-to-peer Bitcoin trading platform LocalBitcoins not to add support for Bitcoin Cash or other future forks
26 September 2017   1054

Due to the significant tightening of the state regulation of the cryptocurrency industry, a lot of Chinese traders switch to the popular p2p platform LocalBitcoins. Now it has been announced that the company is not to add support for Bitcoin Cash or other future forks. Instead, LocalBitcoins has compensated users with Bitcoin deposits corresponding to the value of the Bitcoin Cash given to their accounts, as reported by cryptocoinsnews.com.

LocalBitcoins has decided against supporting Bcash, for various reasons. Our primary focus is to provide easy access and global liquidity for Bitcoin and to ensure the security of Bitcoins held in customer accounts.
 

LocalBitcoins team

Thus, LocalBitcoins says that adding support for Bitcoin Cash would shift resources away from their primary mission, which is to serve the Bitcoin community itself.

Bitcoin Cash charts on coinmarketcap.com
Bitcoin Cash charts on coinmarketcap.com

Meanwhile, at the time of writing, Bitcoin Cash price is about $445.68, its market capitalization is $7,406,922,863, which allows the cryptocurrency to hold the third place in the list.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   117

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.