ADSactly Spotlight on Cryptocoins -- BitcoinZ/BTCZ -- 8th feature "private" coins
Spotlight on Cryptocoins -- BitcoinZ/BTCZ -- 8th feature "private" coins
Hello Steemians
In this series of articles I want to put a spotlight on a specific cryptocurrency and write about the details in all these aspects:
Aim of the currency
Technical details
Market position
Forecast
The cryptocurrency in focus currently will be one of the so-called "private" coins. Coins that create the possibility to be more or less in private while doing transactions. How private you are is one of the main questions to be answered in this articles.
In this 8th article of the series, the spotlight will be on BitcoinZ.
PictureSource
Aim of the Currency
What is this currency about? What does it do differently than the rest?
Where is the unique selling point and at what audience is this coin targeted?
All that questions and more will be answered in the following paragraph.
BitcoinZ is one of the smaller players on the private coins' market and is also a new kid on the block. It has been founded on September 9th, 2017 by an anonymous developer. It is based on the ZCash Core and brings on ZkSnarks for completely anonymous transactions.
BitcoinZ is a pure PoW Coin using the Equihash algorithm, in trying to keep this coin ASIC resistant.
Technical Details
BitcoinZ has wallets that support Linux, Mac, and Windows as well as a mobile app for Android devices, the source code for them is completely visible on Github.
BitcoinZ is a pure PoW coin using the Equihash algorithm (like ZCash, Hush...) for improved resistance against ASIC computation. The developers are also ready to switch this to another algorithm if ASICs for Equihash would be on the market.
Maximum number of coins is 21 Billion just like Bitcoin has, Block Time is 2.5 Minutes with 2MB Blocks
Privacy of transaction is achieved using Zk-SNARKs, just like ZCash or ZClassic. The coin itself advertises with the sentence, ZClassic spirit, ZCash Core, Bitcoin Fundamentals.
There was no ICO, no premine and there are no dev taxes. Fair and decentralized distribution is a very important value for this coin and the community.
Please see Whattomine.com if you are interested in probable mining revenues, but take care the coin is currently not on the official list.
Market Position
At the time of writing this article (01/21/2018), BitcoinZ is placed 471th in market capitalization, with the total value of $12.678.297 USD. The 24h Volume was $185.620 which is a high number compared to the last month.
The decentralized team around BitcoinZ is very active on all social media platforms, especially on twitter.
January is always a very turbulent month for cryptocurrencies, BitcoinZ is no difference there. The coin had its all-time high on January 9th with 0.027 Dollar per BTCZ, afterwards, it went down to 0.008 and now is back up with 0.013, which is the initial value the coin had beginning of January.
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If we are looking back one year into the past we see that BitcoinZ had a spike in BTC Value in October*, because of the listing of BTCZ on different exchanges. The activity on the market has recently grown a lot, it seems the coin is getting known within the community more.
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Forecast
Just like all the other private coins BitcoinZ for sure has a valid point in trying to keep the privacy of the sender and receiver.
BitcoinZ is a very young cryptocurrency not listed on many exchanges currently. If the team can manage to get listed on some of the bigger ones, there will for sure be a nice raise in price.
Technically this coin is currently nothing new. Nevertheless, the market for such coins is for sure a given.
They are working currently on a lot of things, especially the masquerading technology will for sure be a boost for the coin. The Roadmap of the coin can be found here.
Conclusion
BitcoinZ is keeping your transaction details hidden by using Zk-SNARKs, IP privacy is currently not guaranteed, you would need to setup a TOR by yourself.
BitcoinZ is developed by a decentralized community, is completely open source and can be altered following votes that can be cast on the website.
Last but not least there are also some drawbacks and they should not be unmentioned:
- Pure PoW coin, can be seen as a waste of electricity.
- Privacy of transaction has been also viewed with criticism.
- Community-based coins can be seen as not flexible.
Interested in joining us? Come join our Discord server at: https://discord.gg/gXMH3qu
I have been looking to get in few cryptos for long term. Well bitcoinZ seems good option for holding long as the price is also quite low. It would be good to get few of these added to my bag. Let's see what 2018 brings for it.
Bitcoinz is a nice coin but it has competitors in the market monero, zcash, komodo , zcoin, nev coin, zencash, verge, dash. PIVX is another private coin in market.
yeah i have written similar articles with insights about most of these coins here on adsactly ;)
Kind regards
Jan
Ok, but if it doesn't trade on a lot of exchanges, do you know HOW you're going to get your hands on some?
I'm a new user and trying to learn more about cryptos :)
in life we all learn continually 😘😘😘
According to the think tanks related to the net currency, the bitcoin is going to be doubled at the end of the current year, so do this!
yes you are absolutely right @cryptokraze,few altcoins are for long term and after reading this post and your comment I will also buy Bitcoinz.thanks for your thoughts.All the best for future.
This coin will be another pump and dump. Too many other validated coins to compete with.
please read my posts from below before you consider investing in this coin, guys!
Buy and hold the coins that are doing well and already popular. Some of the newer coins may not go anywhere.
Wow. Like in uganda africa, few peple really know about cryptocurrencies.
This informtion is going to make me teach ugandans on the importance of steemit.
thanks for sharing this information
Well, I don't see this coin in any way lower quality from other coins with Bitcoin name on them... With no pre-mined, no ICO and no dev taxes it is showing fairness and transparency... They decided to go with POW, and even this may seem like something not going in their favor, at the end it could become an advantage for them. When ETH leaves POW, all that miners need to look in some other direction, so why BitcoinZ would not be their choice? Limited supply, Website looks decent, privacy and the main factor - Market Cap! This coin is at $11M at this moment, and I don't mean that it needs to go $28B like Bitcoin Cash, but $100M could be realistic in some midterm...
I was just chatting on Slack with one of BitcoinZ team members regarding their identity... He gave me his name and link to his YT channel and for all of you interested in this project details you can join slack and ask them...
He gave u his name and yt channel? Are you kididng me? Tell him to give you his linkedin, his real identity and personal information so people will actually look up for after he ll run out with this possible "scam scheme"
possible sure, a lot of coins feature the possibility of being scam.
like said, satoshi is also not known and wants to keep his privacy. Thats no reason to cry out "scam", but for sure it is a reason to look two times.
Kind regards
Jan
You can see on my blog that I was writing about several ICO scams and warning people about risks... In my opinion, this is not a case of scam... Why? Well, the first thing is that if they wanted to take the money they would have an ICO like every decent scam project does :) By posting this YT channel I was just trying to tell you that in just a few minutes you can make contact with team members... If you are so interested in this project so much spend some time and do deeper investigation, you can them write about it and I will upvote you :)
ATTENTION❗❗
Guys, try to stay away from this coin as I really think there's something fishy with it. I tried to find information about the team but I couldn't find any, when I try to find information on google about the team there's no relevant about members informations like name,photos or linkedins.
Most of coins who are taking this path of hiding their members name and personal information tend to end as scams, so be careful. As I said earlier there should be a really good reason why it is not listed on any known exchange yet.
Thank you for your due dilligence! Tha author of the article will investigate on this!
@adsactly I’ve been trying to join the invite link for discord on your page, it keeps saying it’s expired
Im just curios could they be a problem somewhere? I’d like to be a part of the community
I'm in contact of devs. This is a decentralized community. We have regular live video sessions. Go to https://info.btcz.rocks/ and evaluate yourself. There is nothing fishy about this project. Everything is transparent.
I agree that main website has to be more professional. We're working on it.
Thanks for the warning.
Check my answer UP UP UP :)
Cryptocurrencies are digital, so there is nothing scam about it, it's only the traders or operators with greedy attitude that makes it look like scam.
Good thinking,
but do you know who Satoshi Nakamoto is? Well, i don't.
Nevertheless, this whole market that we are talking about is based upon his idea.
BTCZ has been brought up by an anonymous Developer, just like the original Bitcoin idea.
This does not necessarily make any of this scam.
On the other hand side, i absolutely approve thinking and investigating for yourself before making an investment!
Kind regards
jan
check this website as well (we are a growing community):
https://bitcoinzguiding.ovh/team.html
Stop trying to share this scam please, the devs of the site are unknown and just copied the bitcoin source code most probably and now they're trying to pump the price so they can sell their premined coins for actual real value :/
The Circulating Supply is just to low and the Volume in the last 24h is close to none, wich makes me think about that marketcap (not very correct) considering the discrepancy...
Btw keep doing this posts because I love when you introduce me to a new coin!
Couldn't really see the picture (volume), but a relevant comment.
please read my posts from below before you consider investing in this coin!
I don't know what to say about these new crypto coins. You should really went in depth with the article talking about the team, the history of the members and their roadmap.
There might be some reasons of why they are not yet listed on exchanges, but that's another story :). Good job for writing this post though, I know how hard it is and how time consuming it is to deliver valuable information.
my dear @octavianfeodot, iam investing a lot of time into those articles, including background checks.
But, we are talking here of a "private" coin and of a decentralized structure.
I talked with devs over slack and iam in the telegram group and in their discord. Nevertheless nobody can give you 100% prove that this is scam or no scam. This is completely normal with such small coins.
Kind regards
Jan
Monero, Dash are "private" coins yet they have real, personal information about the team members. I don't know what to say to be honest.
Yes nobody can say either is a scam or not but people should look up for it. If they buy into the coin and then the "founders" dump the coin it will go bad ;)
monero and dash are huge in comparison to this super new coin.
And i am not hiding anything, like said this has been brought up by an anonymous developer. It is in the very first sentences of my post.
Did you ever buy into a scam or why are you playing devils advocate ?
Yes of course as anyone else on the planet. You'd be hypocrite to say that you never bought into a scam, my point with these posts is to open people eyes and let them see the other perspective as well.
Most of them get overly hyped only cause they see "bitcoin" included in the coin's name + the fact that is really cheap and they might buy into some scams. Exchange sites scams, crypto coin scam as a whole.
Yes big or not big you can't come with the argument that's a private coin and that's why team members are anonymous. The only one I'd trust with anonymous developer will be bitcoin. I'm not trying to play devils advocate as I said before, I just want people to see the bigger picture ;)
Well, actually I never bought into any scam up to now :) and no iam no hypocrite.
So, iam saying since the start that you never know. The same thing you are saying as well. And I did not say that the anonymity is only because we are talking about a private coin here but it may be a reason.
I think we made clear now that this is possibly a scam, which is also true for at least half the cryptocoin market.
See you around :)
Kind regards
Jan
You wrongly quoted bitcoin as having a maximum number of coins of 21 billion, the actual maximum number of bitcoins is 21 million coins.
I just confirmed this coin's maximum supply is 21 billion which is way higher than the maximum supply of bitcoin at 21 million, I was going to say btcz is a definite buy based on the limited supply.
Does anyone else's head spin with all of these coins? Is it a better idea to own tons of coins you don't know much about, or own a few that you're well informed on? Asking for a friend. 🤔
How is this better than the soon to be coming fork Bitcoin Private?
Hodlers of zclassic and bitcoin get a 1:1 ratio Bitcoin Private
So if you have 55 zclassic and 4 bitcoins you get 59 bitcoin privates...
Love me some zclassic!!
good question!
Cryptocoins with private features.