United Bitcoin to Add Support for Smart Contracts

United Bitcoin will transfer all pegged currencies to smart contracts within April 2018
10 April 2018   488

UnitedBitcoin’s philosophy is to upgrade the Bitcoin network. It has such features as Proof-of-Work inherited from Bitcoin with brand new high-speed smart contracts, fast transactions through the Lightning network, asset allocation of active addresses, no-premining, stable system with fiat currency pegged reserves, block-size increased to 8 MB and support for SegWit.

According to the roadmap of United Bitcoin, the issuance of a digital currecny pegged to fiat currencies is scheduled for April 2018. The United Bitcoin will issue its first digital currency pegged to fiat currencies using UBTC as collateral. Moreover, in April United Bitcoin promises to add support for smart contracts, as UBTC will be officially upgraded to a version with smart contracts support.

What is more, United Bitcoin will transfer all pegged currencies to smart contracts also within April 2018. Because it is too complex for color coins to support smart contracts, in order to support the smart contracts for pegged currencies, all pegged currencies will be transferred to the smart contracts system.

Later, in July 2018, United Bitcoin plans to upgrade with the Lightning Network support.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   92

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.