ViaBTC unveils Bitcoin Cash Token and BTC ABC mining pool

ViaBTC exchange introduces the Bitcoin Cash (BCC) Token and launches a Bitcoin Cash mining pool 
17 July 2017   1515
Bitcoin

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

On August the 1st, the Bitcoin User Activated Soft Fork (UASF) is to be activated. The UASF is intended to address scaling issues faced by the Bitcoin network by accelerating the adoption of Segregated Witness. 

Recently, at “The Future of Bitcoin Conference 2017”, big block of supporters presented a BitcoinABC solution, which has an 8mb block size default, but does not include the upgrade for Segregated Witness (Segwit).

Since then, as ViaBTC reports, the exchange have received multiple inquiries from miners and users, asking if ViaBTC would be supporting BitcoinABC mining. Thus, ViaBTC published a statement concerning the possible upcoming Bitcoin User Activated Hard Fork (UAHF):

We decide to make precautions for the upcoming UAHF and provide a new option for users, on the basis of our support of SegWit2x under New York Agreement. We will designate the token “Bitcoin Cash” (BCC) to the possible split coin led by the activation of UAHF.
 

ViaBTC on Medium.com

 Viabtc is also launching a BCC mining pool:

On 22nd July 2017, we will be launching a brand new BCC mining pool and lock the activation time of UAHF at 12:20 1st August 2017 (UTC Time).
 

ViaBTC on Medium.com

Blockchain

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

Those who want to mine on the new BCC blockchain can begin mining in the new pool on July 22th, but they can only mine bitcoins since the fork has not taken place yet. On August the 1st, the new pool will automatically switch from mining bitcoin to BCC, ViaBTC detailed.

On July 22th, the company’s cloud mining division is to start offering BCC-mining contracts. On this day, the customers will be also given an opportunity to trade their bitcoins for two new assets on Viabtc’s exchange: the new BCC token and a temporary asset called Btc_Frozen2, which “represents frozen BTC assets and is not available for trading.” 

According to Viabtc, the customers could trade 1 BTC into 1 BCC token and 1 Btc_Frozen2 token, or vice versa. After UAHF activates at 12:20 UTC time on August 1st, all of the Btc_Frozen2 assets will be redeemed as bitcoins and it will be decided on the best timing to allow deposit and withdrawal for BCC, as ViaBTC reports. 

'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.