$PAC to release desktop Electrum wallet

$PAC is in active development of the desktop Electrum wallet and is set to release it on April 1
24 March 2018   479

$PAC reported that the development of the Electrum wallet is coming along nicely and expects the release according to the initial schedule outlined in the whitepaper - April 1. The desktop wallet currently is a working prototype and the efforts of the team are focused on various elements of user interface to make it as user friendly as possible. As for the next step for the wallet, it would be the transfer to AWS to make it scalable.

The wallet doesn't download the blockchain using a remote server instead; it can be recovered from a secret seed; the same wallet can be used on different computers with auto-synchronization; and seed or private keys are not sent to the server - verification is performed using SPV. Another interesting feature that is characteristic to $PAC Network on general is a proposal system: proposals allow the $PAC community to vote on community projects if they deem the project is beneficial to the community.

At the moment of the publication the market indicators of PACcoin are as follows:

Average price: $0.007793
Volume (24h): $182,439

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

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.