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Author Topic: [ANN][BTCZ] BitcoinZ - Low Fees, 100% Community, POW-Equihash No-Premine No-Tax  (Read 339770 times)
BadAstroZA
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October 14, 2017, 10:52:11 PM
 #841

Yep - I'm in and have been mining and considering running a node wallet but I'm still waiting to see if anyone can describe what is genuinely unique about this coin? Other than engaged community members and self-interested miners, why would anyone else care about this equihash coin with a huge total supply?

And this is a serious question, not a troll in any way. What does BitcoinZ offer that no other coin does?

This part of the whitepaper is really confusing:
Quote
Tech
BitcoinZ is a bitcoin compatible cryptocurrency based on the zcash core. It utilizes the Equihash
algorithm with t-addresses and zk-snarks anonymous z-addresses.
The combination of these technologies enables BitcoinZ to operate as a proven cryptocurrency
with the ability to offer graphics processor unit (GPU) mining to anyone in the world with
access to off the shelf graphics cards, also known as commodity hardware. Additionally, it
enables the portability and compatibility with BitcoinZ and other cryptocurrency blockchains
.
How is this "bitcoin compatible" - I'm not even sure what that means.
And what does that last highlighted sentence mean - portability and compatibility how?

Hey man, unique is the symbiosis of Bitcoin and ZCash, especially the totally anonymous transfer by zkSNARK tech.
Please read the white paper: https://bitcoinz.site/wp-content/uploads/2017/10/Community_Paper_Finalv1.0.0_20171007.pdf

It is Bitcoin 2.0!

In 2009 to 2011 I was sleeping away Bitcoin, the second chance with BitcoinZ for sure I do not!

Getting tired of being told to read the white paper. I have read the white paper. That quote is from the white paper. The white paper is very high level and uses terms like I quoted but without explaining them.

Please explain the "symbiosis of Bitcoin and Zcash" - what does this mean? It's basically just a rephrasing of what I bolded in my quote from the white paper, as it's a nice sounding phrase but without any substantive explanation of how this ACTUALLY functions.

Don't get me wrong... I am just doing my due diligence. I've been mining btcz for a few days now and been in the Discord asking questions etc. When people make huge claims about a new coin, they need to be prepared for rigorous investigation into what underpins those claims, otherwise they're simply expecting people to jump on board out of blind faith. There are currently 1170 coins/tokens/platforms listed on CoinMarketCap and people quite rightly want to know answers to questions such as "OK, sounds nice, but why this coin - what does it offer that others don't, and why would it get mass adoption, and why would it take market share away from the existing competition that already has a strong presence on exchanges?".

There are idiot trolls here who like to shitpost new coin announcment threads... I'm not doing that. I'm trying to find answers to questions that aren't on the website, aren't in this thread, and aren't in the white paper.
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realhellomoto
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October 14, 2017, 11:31:46 PM
 #842

Yep - I'm in and have been mining and considering running a node wallet but I'm still waiting to see if anyone can describe what is genuinely unique about this coin? Other than engaged community members and self-interested miners, why would anyone else care about this equihash coin with a huge total supply?

And this is a serious question, not a troll in any way. What does BitcoinZ offer that no other coin does?

This part of the whitepaper is really confusing:
Quote
Tech
BitcoinZ is a bitcoin compatible cryptocurrency based on the zcash core. It utilizes the Equihash
algorithm with t-addresses and zk-snarks anonymous z-addresses.
The combination of these technologies enables BitcoinZ to operate as a proven cryptocurrency
with the ability to offer graphics processor unit (GPU) mining to anyone in the world with
access to off the shelf graphics cards, also known as commodity hardware. Additionally, it
enables the portability and compatibility with BitcoinZ and other cryptocurrency blockchains
.
How is this "bitcoin compatible" - I'm not even sure what that means.
And what does that last highlighted sentence mean - portability and compatibility how?

Hey man, unique is the symbiosis of Bitcoin and ZCash, especially the totally anonymous transfer by zkSNARK tech.
Please read the white paper: https://bitcoinz.site/wp-content/uploads/2017/10/Community_Paper_Finalv1.0.0_20171007.pdf

It is Bitcoin 2.0!

In 2009 to 2011 I was sleeping away Bitcoin, the second chance with BitcoinZ for sure I do not!

Getting tired of being told to read the white paper. I have read the white paper. That quote is from the white paper. The white paper is very high level and uses terms like I quoted but without explaining them.

Please explain the "symbiosis of Bitcoin and Zcash" - what does this mean? It's basically just a rephrasing of what I bolded in my quote from the white paper, as it's a nice sounding phrase but without any substantive explanation of how this ACTUALLY functions.

Don't get me wrong... I am just doing my due diligence. I've been mining btcz for a few days now and been in the Discord asking questions etc. When people make huge claims about a new coin, they need to be prepared for rigorous investigation into what underpins those claims, otherwise they're simply expecting people to jump on board out of blind faith. There are currently 1170 coins/tokens/platforms listed on CoinMarketCap and people quite rightly want to know answers to questions such as "OK, sounds nice, but why this coin - what does it offer that others don't, and why would it get mass adoption, and why would it take market share away from the existing competition that already has a strong presence on exchanges?".

There are idiot trolls here who like to shitpost new coin announcment threads... I'm not doing that. I'm trying to find answers to questions that aren't on the website, aren't in this thread, and aren't in the white paper.

BitcoinZ is a bitcoin compatible cryptocurrency = its based off bitcoin which zcash is based off, and its compatible with many things like all the remote procedure calls (RPC) to the coinbase daemon (zcashd) and deterministic wallets, its a bit different if you go technical as it has 22 byte addresses instead of 21 bytes. The address starts with t1, which perhaps someone could disagree with and say it would be better to change it to b2, and that could be Proposed and voted on etc.

Additionally, it enables the portability and compatibility with BitcoinZ and other cryptocurrency blockchains. = It refers to the line above it which is talking about BitcoinZ can be mined with only GPU and shares similarities with other cryptocurrency blockchains.

To be frank and honest and to answer the question of WHY IS THIS DIFFERENT?! = Its yet to be seen, but it has been told. Bitcoin, and most to all crypto currencies have a dev team, and a corporation like setup with managers etc and they pay the employees and the coin is ran in this fashion. The DIFFERENCE is that BitcoinZ is completely decentralized. Which makes it much different than many coins/tokens/chains. Do not be surprised if we see many websites and no centralized website.

Maybe we can find out what it is by knowing what it is not?

1. It it not made for a certain purpose like 'selling gaming tokens'.
2. It does not have a developers fee.


What does it have?

1. It swaps a unit of value backed by Proof of Work, the miners work. All that energy that took place to mine the block.
2. Decentralization, no one monarchy which controls the coin and makes the decisions. Looking at the roadmap we can see that there will be a system implemented for proposal voting and thats going to give direction to the chain. In this proposal system it perhaps will have how donated funds will be managed; as donations in BTCZ are already flowing in.
3. An active community.

What secret weapon does this coin have? For example z_address isn't new. Wallets for all platforms isn't new.

None of it is new, but the secret weapon is how it will be implemented. We have yet to see this.
I know that I and some other developers are working on making it possible to exchange BTCZ to all other top altcoins directly from the wallet by inputting the address or scanning a QR code of other currencies. Now this is some work. Its not a secret weapon, because you could login to an exchange, deposit, sell and withdrawal. But in this way it will all be automatic and user friendly. I believe that most people want crypto to be safe, fun, mine-able, and easy to use. The real direction I believe is for new comers to crypto because there will be a huge wave in the coming years and BitcoinZ is paving the path. As Bitcoin is being ripped down by new forks. BitcoinZ will build up a decentralized coin, free of all the entities that Bitcoin made itself hostage of. When you think of BitcoinZ think of 'decentralized' but REALLY decentralized. Make sure its decentralized. Its not 'decentralized' because someone said it was decentralized. Make sure that the development is coming from many groups in many nations, independent of each other but united on working together on the BitcoinZ blockchain.

-hellomoto
BadAstroZA
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October 14, 2017, 11:35:02 PM
 #843

Awesome! Thanks a lot for the detailed reply. Appreciate you taking the time.
Justiciero
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October 15, 2017, 12:00:07 AM
 #844

Send BTCZ donation.

Good luck and thanks for the work.
sergii87
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October 15, 2017, 12:11:18 AM
 #845

After reading last few pages - it seems to me that 90% of the comments are sponsored.

I am not a hater, but I don't understand why would I use BTCZ instead of BTC?
crypt0r3x
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October 15, 2017, 12:23:48 AM
 #846

A BIT OF CLARIFICATION

Hello fellow BTCZ Community.  I would like to clarify the questions surrounding the voting system in the Community Paper (whitepaper). 

In the paper, the voting system was purposely described with a degree of generality.  The reason being, we encourage the proposer to determine the voting system for their particular proposal. We also didn't suggest any particular platforms to use, but it was written in a way to impose on the proposer the use of a fair system that, for example, eliminates dupes via IP, cookies, or whatever else exists in our abundant technology world.  It was further intended to communicate that the community, for example, would decide if the platform itself is indeed known to produce fair voting results.  Again, it is not the intention to confine the proposer to a voting system written in the paper, that's why none was suggested. 

This is the nature of decentralization, not to confine anyone to what the 'dev team' says, or what the paper says you must use as a voting platform.  The only intention is to keep everything fair, and to protect the BitcoinZ blockchain, the BitcoinZ community, and future holders of BitcoinZ for many many years to come.

In the coming days we will be updating the Community Paper. It's already dated due to the fast pace that we've been moving.  Also, there will be clarification based on all of the questions and feedback we've been receiving.  This is only meant to make sure the community continues to understand the vision of fairness and freedom of BitcoinZ. 

-cryptorex

BTCZ Address Sharelink: https://btcz.me/cryptorex
BTCZ Send via TXT/SMS Demo: https://www.youtube.com/watch?v=aeGX36c24i0
BTCZ TXT/SMS Codebase: https://github.com/bitcoinz-wallets/TxtZ

realhellomoto
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October 15, 2017, 12:54:16 AM
 #847

After reading last few pages - it seems to me that 90% of the comments are sponsored.

I am not a hater, but I don't understand why would I use BTCZ instead of BTC?

https://medium.com/@jonaldfyookball/why-does-bitcoin-have-ridiculously-high-fees-and-slow-confirmations-e3fd58258a6d
BadAstroZA
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October 15, 2017, 02:56:04 AM
 #848

After reading last few pages - it seems to me that 90% of the comments are sponsored.

I am not a hater, but I don't understand why would I use BTCZ instead of BTC?

I just waited 32 hours this weekend trying to transfer some BTC. I used the maximum fees option possible from my nano ledger s, but still. Bitcoin is great as the gold standard, but can't handle mass adoption and high transfer volume.

At its peak there were over 50,000 unconfirmed transactions yesterday.
wudafuxup
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October 15, 2017, 04:11:29 AM
 #849

I'm torn in regards to this coin. I mined a few hundred thousand but am reluctant to continue. I really hate the fact that "Bitcoin" is part of the name. That in itself will turn down many investors. We'll see I guess. I'll hold what I got and keep an eye on the coin. Community seems to be active. Will give it some time.

I like crypto
Espacee
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October 15, 2017, 07:33:02 AM
 #850

CMC seems add BTCZ on their list :

https://coinmarketcap.com/currencies/bitcoinz/#markets

Stealth8368
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October 15, 2017, 08:31:55 AM
 #851

After reading last few pages - it seems to me that 90% of the comments are sponsored.

I am not a hater, but I don't understand why would I use BTCZ instead of BTC?

I just waited 32 hours this weekend trying to transfer some BTC. I used the maximum fees option possible from my nano ledger s, but still. Bitcoin is great as the gold standard, but can't handle mass adoption and high transfer volume.

At its peak there were over 50,000 unconfirmed transactions yesterday.
yeh I am having similar problems with sending bitcoin from Nano S to exchange,over 24 hours unconfirmed which really is a problem when trying to trade,Bitcoin is good as a way of storing value but in its current form is useless at anything else.
Stealth8368
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October 15, 2017, 08:40:31 AM
 #852

Posted By Realhellomoto,

BitcoinZ is a bitcoin compatible cryptocurrency = its based off bitcoin which zcash is based off, and its compatible with many things like all the remote procedure calls (RPC) to the coinbase daemon (zcashd) and deterministic wallets, its a bit different if you go technical as it has 22 byte addresses instead of 21 bytes. The address starts with t1, which perhaps someone could disagree with and say it would be better to change it to b2, and that could be Proposed and voted on etc.

Additionally, it enables the portability and compatibility with BitcoinZ and other cryptocurrency blockchains. = It refers to the line above it which is talking about BitcoinZ can be mined with only GPU and shares similarities with other cryptocurrency blockchains.

To be frank and honest and to answer the question of WHY IS THIS DIFFERENT?! = Its yet to be seen, but it has been told. Bitcoin, and most to all crypto currencies have a dev team, and a corporation like setup with managers etc and they pay the employees and the coin is ran in this fashion. The DIFFERENCE is that BitcoinZ is completely decentralized. Which makes it much different than many coins/tokens/chains. Do not be surprised if we see many websites and no centralized website.

Maybe we can find out what it is by knowing what it is not?

1. It it not made for a certain purpose like 'selling gaming tokens'.
2. It does not have a developers fee.


What does it have?

1. It swaps a unit of value backed by Proof of Work, the miners work. All that energy that took place to mine the block.
2. Decentralization, no one monarchy which controls the coin and makes the decisions. Looking at the roadmap we can see that there will be a system implemented for proposal voting and thats going to give direction to the chain. In this proposal system it perhaps will have how donated funds will be managed; as donations in BTCZ are already flowing in.
3. An active community.

What secret weapon does this coin have? For example z_address isn't new. Wallets for all platforms isn't new.

None of it is new, but the secret weapon is how it will be implemented. We have yet to see this.
I know that I and some other developers are working on making it possible to exchange BTCZ to all other top altcoins directly from the wallet by inputting the address or scanning a QR code of other currencies. Now this is some work. Its not a secret weapon, because you could login to an exchange, deposit, sell and withdrawal. But in this way it will all be automatic and user friendly. I believe that most people want crypto to be safe, fun, mine-able, and easy to use. The real direction I believe is for new comers to crypto because there will be a huge wave in the coming years and BitcoinZ is paving the path. As Bitcoin is being ripped down by new forks. BitcoinZ will build up a decentralized coin, free of all the entities that Bitcoin made itself hostage of. When you think of BitcoinZ think of 'decentralized' but REALLY decentralized. Make sure its decentralized. Its not 'decentralized' because someone said it was decentralized. Make sure that the development is coming from many groups in many nations, independent of each other but united on working together on the BitcoinZ blockchain.

-hellomoto
[/quote] Great read and informative,thanks for taking the time to explain BitcoinZ vision.
tbct_mt2
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October 15, 2017, 09:50:22 AM
 #853

Hi all,

It's great news for our community. BitcoinZ has been listed on coinmarketcap. You can check it by double clicking the following link
https://coinmarketcap.com/currencies/bitcoinz/#markets

Happy mining.

madex
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October 15, 2017, 03:21:10 PM
 #854

great news
still mining btcz
beskid
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October 15, 2017, 03:38:28 PM
 #855


Let's see what will come of it. As long as we can mend))))
william1980
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October 15, 2017, 03:40:57 PM
 #856

Hello Dev

Good luck for your project .

Closely watching the progress !!! Cheers

Awesome! Thanks a lot for the detailed reply. Appreciate you taking the time.
caikox
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October 15, 2017, 04:47:13 PM
 #857

I like that the coin will be fully decentralized and will have voting system to decide the road of the chain. As mentioned on some of the previous posts, i also hate that has "bitcoin" on it's name.  I hope total re-brand and some marketing investments will be done in future with the donations.
Will keep mine it for now.
Ben.Lock
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October 15, 2017, 04:49:46 PM
 #858

Hi,
Interesting project!
I closely read all of this thread and it looks very professional team!

Good luck

Lendoit ▮ P2P Cross Border Lending ▮ Lendoit
All You Need Is Loan
▬▬▬▬▬[TGE on December 2017]▬▬▬▬▬
bitcoinz-pod
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October 15, 2017, 06:44:17 PM
 #859

Please not force anyone for donation. Such behavior maybe treated as rude. Ask yourself how you can help - trade / mine / help dev teams / promote BitcoinZ

Update on decentralized development as we have a lot of questions.

bitcoinz-pod/bitcoinz Linux client policy is strict:
- protect investors, core blockchain and history (immutability). All holders are protected. If you run current software in many years you should be able to transfer your coins.
- add frequent checkpoints to prevent history change attacks
- follow zcash changes to include latest updates / security fixes. New version of zcash may be merged after some time when it will be stable live in production environment. Security fixes should be merged as soon as possible.
- no changes are planned to mislead investors, pool operators and exchanges like changes in coin name / ticker / address convention / reward algorithm
- no algorithm change: always POW. No master nodes, no secure nodes, no POS. We are ASIC resistant but in the feature algo may change to protect this concept.
- bitcoinz has stable zcash core and all should agree to current stage. We have the best stable anonymous technology in the market and ASIC resistant algorithm.
- any voting system may suggest changes and not force any changes
- each development pod is independent and has its own leaders

Alternative clients which are compatible with current blockchain are welcome, but they should convince community to use their  clients.
Windows client is example if alternative implementation. It is not based on latest zcash version. We need help to update windows version to latest stable zcash. It is compatible with current blockchain.
Other forks / team / pods may include masternodes feature as it not break blockchain consensus rule but in this case you should convince some pool / miners to switch to your client which will have less reward for miners.

Sensitive data programs like wallets should provide free open source code and sha256 to their releases to be able to review their wallets by other teams / pods. It not recommended to use any wallet which hasn't been reviewed by other team. Software without any confirmations should be treated as red flag and not used.

The most  secure software is included in bitcoinz-pod/bitcoinz linux client.

BitcoinZ - In Decentralization We Trust
crypto5
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October 15, 2017, 07:00:13 PM
 #860

how many btcz you need to start mining ?
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