SegWit will lock-in by August 9th

On Wednesday morning August 9th, SegWit will lock-in on Bitcoin
08 August 2017   1393
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. 

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.