SegWit will lock-in by August 9th

On Wednesday morning August 9th, SegWit will lock-in on Bitcoin
08 August 2017   1159
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

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. 

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

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. At the time of writing, this goal seems to be achieved:

Bitcoin Block Details concerning SegWit on coin.dance Bitcoin block details concerning SegWit on coin.dance

Thus, Segregated Witness (SegWit) is to lock-in on the Bitcoin network on Wednesday morning, August 9th.

Bobby Lee, co-founder and CEO of YourBTCC, expresses his excitement on Twitter:

The whole community counts blocks remaining before the activation of the proposal as this is the second in importance event after Bitcoin fork:

As SegWit activated, Bitcoin will be one step closer to changing how some nodes on the $50 billion network store data, potentially paving the way for more exciting, forward-looking technologies, such as the top-level Lightning Network. 

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.

For now, the price of the first digital currency beats all the records and is about $3427. Bobby Lee also 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. 

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   132

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.