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:
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.pdfIt 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
