SegWit locked-in on Bitcoin

The Segregated Witness protocol has finally locked-in the Bitcoin network
09 August 2017   1012

SegWit is the process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain. 

The essential condition for SegWit activation is that 95% of the Bitcoin community have to agree to this new process and switch to the new Bitcore Core client for at least two weeks. Now, the conditions have been met and SegWit proposal has finally locked-in on the Bitcoin blockchain:

SegWit proposal activation countdown on segwit.co SegWit proposal activation countdown on segwit.co

The fixation took place at block 479,708. However, Bitcoin won’t be able to upgrade immediately. Because of SegWit’s two-week “grace period, " the change won’t “activate” until block 481,824, which is currently projected to happen on August 21.

The community is celebrating the proposal's activation. Charlie Lee, the creator of Litecoin (which activated SewGit way earlier than Bitcoin), congratulated the Bitcoin part of the community on such a great achievement for the industry:

 For now, the price of the first digital currency beats all the records and is about $3389. Bobby Lee, co-founder and CEO of YourBTCC, ran a Twitter survey asking followers to name a Bitcoin price once the lock-in occurs:

The results of the survey, which has so far received almost 3,300 votes, point to a further price increase over $3,500 after August 9th (35%), while 25% of respondents consider prices could go even higher - over $5,000.  

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.