Vertcoin rises significantly

VTC coin saw a decent price increase during last week
24 October 2017   1594

Vertcoin rose almost 100% during past 7 days reaching its peak on 22 October with the price of $4.60. At the moment of writing its price is $3.23 which is 50% higher than it was only 4 days ago. Why does the coin experience such a progress while most major currencies tend to drop?

One of the reasons is its integration with Ledger, announced by Vertcoin Development Team on October 19.This provides the opportunity to expose VTC to  BTC and other coins holders for the first time.

What is more, users decide to get involved with VTC because of the potential of Atomic swaps which can be carried out, and atomic swaps are useful when the coins are swapping between different currencies. For instance, Charlie Lee, the creator of Litecoin, gave a significant promotion to VTC, when he did the Atomic Swap with James Lovejoy, the lead developer of Vertcoin, and tweeted that it worked flawlessly.

Also, the developers work hard on making it Vertcoin ASIC-resistant, they built up a social contract with the community to hard fork the mining algorithm if ASICs or FPGAs are ever detected.

Thus, Vertcoin is a growing currency, secured by its users, focused on decentralization and developing rather rapidly.

'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.