SegWit is now live on HitBTC

HitBTC cryptocurrency exchange now supports SegWit protocol
30 September 2017   1452

One of the top cryptocurrency exchanges, HitBTC, has announced that from now on it supports SegWit technology, which is aimed to "cure a whole series of original Bitcoin imperfections", such as possible malleability bugs, blocks being clogged with transaction data reducing network speed, fees that are getting higher.

HitBTC on coinhills.com
HitBTC on coinhills.com

Thus, the report details that from now on the exchange supports incoming and outcoming SegWit transactions. SegWit is a backward-compatible technology, which means none of existing functionality will be affected in any way, so that customers may feel free to withdraw their coins to non-SegWit addresses, same goes for deposits.

To start receiving SegWit transactions, the users have to simply create new Bitcoin address in their account. From today on, every new generated address will be compatible with new technology. As reported, outcoming transactions are now also sent in SegWit format. Withdrawal fees are about to decrease by 50%.

Bitcoin price chart on coinmarketcap.com
Bitcoin price chart on coinmarketcap.com

Meanwhile, the top cryptocurrency price is about $4181.33, it’s market capitalization is $69,388,280,727.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   143

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.