SegWit implemented in Bitwala Wallet

The implementation intends to lower the fees when sending or receiving bitcoin into wallet to or from another wallet that supports SegWit
14 December 2017   1079

Yesterday Bitwala announced that it have implemented SegWit into the Bitwala Wallet and now it is available for all users of wallet. SegWit is a technical improvement of the Bitcoin Blockchain that paves the way for cheaper transactions and enables scaling solutions on top of Bitcoin.

Segregated Witness was activated on the Bitcoin Network on August 24th, 2017 on block #481824. It has since seen a steady increase in adoption, and SegWit transaction makes up about 9% of all Bitcoin transactions.

Segwit chartsSegWit Transaction percentage Charts

The update intends to lower the fees when sending or receiving bitcoin into wallet to or from another wallet that supports SegWit.

The full potential of the SegWit upgrade will unfold as more and more participants in the ecosystem update their systems. While the cost of transactions will be reduced with SegWit, users will continue paying the current fees because Bitwala’s payment processor is yet to activate SegWit. It is expected the upgrade to take place in Q1 2018.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   130

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.