[ANN][BTCZ] BitcoinZ - Low Fees, 100% Community, POW-Equihash No-Premine No-Tax

[elessil]

I'll also put my vote for adjusting the halving period to 6-12 months instead of halving the block reward.

+1

give some time. do not rush...

[tuiputui]

You guys crying for halving... If you want a huge supply coin, why don´t you mine Digibyte?. doge?, verge?, Sia?, etc etc??, sure all this will give tones of tokens in a day.. but then go out a try to sell them... nobody wanna touch them.!!


 if you want a coin that scales you need a product attractive to buyers (investors), and nobody is buying your product if the supply is 350M in a week and 450M a few days later... People that bough at 0.01$ a few days back already lost 50% of their investment!. Halving is not dreaming on lambos.. is giving this thing a chance to survive or get ready to be the DOGE 2.0 And no we don´t need more doges please.

[TheTrunK]

You guys crying for halving... If you want a huge supply coin, why don´t you mine Digibyte?. doge?, verge?, Sia?, etc etc??, sure all this will give tones of tokens in a day.. but then go out a try to sell them... nobody wanna touch them.!!


 if you want a coin that scales you need a product attractive to buyers (investors), and nobody is buying your product if the supply is 350M in a week and 450M a few days later... People that bough at 0.01$ a few days back already lost 50% of their investment!. Halving is not dreaming on lambos.. is giving this thing a chance to survive or get ready to be the DOGE 2.0 And no we don´t need more doges please.

So why you reach out to this coin KNOWING it will have 21B supply, 12.5k reward per block halving every 4 years. Those are immutable parameters (at least 21B but the other are directly connected to it!)

[shvck]

This is from the whitepaper. Now tell me please HOW IN THE HELL have you made decision on halving and 250 coins/block "dev/community/whatever fee" ?

III. Proposal Systems / Voting

A vote of acceptance shall require 55% of the vote
above any alternative proposals on the voting ballot.

You have just violated at least 2 major declaration/principles from the community/white paper - Bitcoin fundamentals & Proposal Systems / Voting.

Great job!

[JoeMue]

 if you want a coin that scales you need a product attractive to buyers (investors), and nobody is buying your product if the supply is 350M in a week and 450M a few days later... People that bough at 0.01$ a few days back already lost 50% of their investment!. Halving is not dreaming on lambos.. is giving this thing a chance to survive or get ready to be the DOGE 2.0 And no we don´t need more doges please.

The inflation for each coin was heavy in the beginning. Bitcoin, Litecoin, Vertcoin - just pick any of the coins with a fair start. If you have X coins after one week, you will have 2*X coins after 2 weeks. Within the next two weeks, the amount of coins will double again. And so on... This is 1st grade math. And guess what - despite the heavy inflation, these coins survived. They did not care about investors or whatever. They set the rules in the beginning and did not change them since then. And that's how its done.

DOGE was a story of success... with some bad decisions at the end. The BitcoinZ developers are making bad decisions right at the beginning: manipulating the protocol to their favour. But do whatever you want. I don't give a s**t anymore. As I said: I am out.

[tuiputui]

You guys crying for halving... If you want a huge supply coin, why don´t you mine Digibyte?. doge?, verge?, Sia?, etc etc??, sure all this will give tones of tokens in a day.. but then go out a try to sell them... nobody wanna touch them.!!


 if you want a coin that scales you need a product attractive to buyers (investors), and nobody is buying your product if the supply is 350M in a week and 450M a few days later... People that bough at 0.01$ a few days back already lost 50% of their investment!. Halving is not dreaming on lambos.. is giving this thing a chance to survive or get ready to be the DOGE 2.0 And no we don´t need more doges please.

So why you reach out to this coin KNOWING it will have 21B supply, 12.5k reward per block halving every 4 years. Those are immutable parameters (at least 21B but the other are directly connected to it!)

Perhaps because  me and many others reached this when it was bellow 300.000.000 and instead do the maths we got catch with the "inflation", "no asic", "organic grow", etc.
Also because this is a community project. Are you happy watching your tokens going down in time like every high supply project?? good for you, vote to keep as is!... fortunatelly it seems most of the community is not thinking the same. And nothing is untouchable, a living project must evolve and correct mistakes. If you want to grow and reach exchanges you need volume, if you want volume you need investors, if you want investors you need to balance supply and demand.... there´s no "good long term investments" in the high supply scheme... just check the graphs of those projects and learn from past.

[tuiputui]

DOGE was a story of success...

man i always have a pile of doges around just for the lolz... "to the moon!", yes i love doge, but as much as everybody loves it to the moon doesn´t translate into success in any lang

[realhellomoto]

Do I get this right? You want to lock up 250 coins per block? This coin started as "not-premined" and "no-dev tax". A just a few weeks later you want to change that because you did not get rich yet?

I am going to dump my coins as soon as possible and tell everyone I once told to invest in BitCoinZ to do the same.

I vote +1 for renaming in GreedyVultureCoin. R.I.P. BitcoinZ.

To can explain how it works, there is 1440 minutes in a day. The block time is 2.5 minutes. (BitcoinZ tries to make the blocktime 2.5 minutes by adjusting the difficulty).
So we can take the number 1440 and divide it by 2.5 and we get 576 blocks a day.
So now we take 576 blocks and times it by the 250 coins out of 6250 coins in a reward. 250 coins for every block mined. So 576 * 250 = 144,000 coins.
250 coins a block in bitcoin is 0.0002 bitcoins a block or in dollars = 1.34 dollars (calculating at bitcoin price of 6700$).
so now we can times 1.34$ dollars a block by 576 to get the daily amount. (24 hours). which would be 576 * 1.34 = 771.84$ a day
Now this 771.84$ a day does not go to the developers either. It goes into a community chest. A community chest is something that anyone can propose to use and it can be voted on and the funds will be released to that person or group of people, or project, or cost, or bill.
For example if 'Dan' wanted to make a website about BitcoinZ and make a video or something for the community. You can make a proposal and ask for 500$ to do it. And everyone that wants to vote will vote, and if its approved, you will receive 500$ from the chest.
It does not pay developers. Its made so that money is available to help the progress of BitcoinZ.
There is 0$ allocated to developers. The only thing a developer can do is make a proposal and say what they are making, and receive funding by people voting.
I don't know of another crypto currency that does this. I think its wonderful and will really help with the progress of BitcoinZ. I know some crypto have foundations and what not but this is a decentralized way to allow people to create for BitcoinZ and not be restricted by money.
There are 6 key holders, some are developers and some are not developers, some are pool operators and some are journalists and crypto miners.
So we have a good group of people to make sure that there is no misappropriation of funds.



-hellomoto

[shvck]

So now we take 576 blocks and times it by the 250 coins out of 6250 coins in a reward. 250 coins for every block mined. So 576 * 250 = 144,000 coins.

Why did you made decision on halving?
Can you provide us with some advantages? Why do you change the basic principle of this coin?

[longasleep]

btcz isnt afraid of change!

[realhellomoto]

So now we take 576 blocks and times it by the 250 coins out of 6250 coins in a reward. 250 coins for every block mined. So 576 * 250 = 144,000 coins.

Why did you made decision on halving?
Can you provide us with some advantages? Why do you change the basic principle of this coin?

This is informative, I don't know why you assumed its concrete. It still goes for voting, and it should be in a manner that is public, does not require to be logged into or register for a service to cast a vote.
The proposals should be
Halving, 12500 > 6250 ; Yes / No
Community Chest ; Yes / No

-hellomoto

[bitcoinz-pod]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

[realhellomoto]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

Ok, Everyone withdraw their coins from MyBitcoinZ, as the server will but shut down on Nov 28th.

-hellomoto

[JoeMue]

To can explain how it works, there is 1440 minutes in a day. The block time is 2.5 minutes. (BitcoinZ tries to make the blocktime 2.5 minutes by adjusting the difficulty).
So we can take the number 1440 and divide it by 2.5 and we get 576 blocks a day.
So now we take 576 blocks and times it by the 250 coins out of 6250 coins in a reward. 250 coins for every block mined. So 576 * 250 = 144,000 coins.
250 coins a block in bitcoin is 0.0002 bitcoins a block or in dollars = 1.34 dollars (calculating at bitcoin price of 6700$).
so now we can times 1.34$ dollars a block by 576 to get the daily amount. (24 hours). which would be 576 * 1.34 = 771.84$ a day
Now this 771.84$ a day does not go to the developers either. It goes into a community chest. A community chest is something that anyone can propose to use and it can be voted on and the funds will be released to that person or group of people, or project, or cost, or bill.
For example if 'Dan' wanted to make a website about BitcoinZ and make a video or something for the community. You can make a proposal and ask for 500$ to do it. And everyone that wants to vote will vote, and if its approved, you will receive 500$ from the chest.
It does not pay developers. Its made so that money is available to help the progress of BitcoinZ.
There is 0$ allocated to developers. The only thing a developer can do is make a proposal and say what they are making, and receive funding by people voting.
I don't know of another crypto currency that does this.

Most do. It's still called dev-tax. Even if you are willing to give it to other developers.

How did other coins survive? Take Vertcoin for example. One of the few second generation coins, which actually survived. And why did it survive? Great community, no premine, no dev-tax, no ico, fair start. And it never changed the rules to anyones favour. It only changed the rules to stay ASIC-resistent. If you want to succeed, take a look at the story of Vertcoin. The key is consistency. How do you want to attract investors if you don't stick to your rules?

It takes a lot of time and hard work to get into the TOP-50-cryptocurrencies. You are currently trying to speed things up and use some kind of shortcut. It won't work. You seem to be a clever guy. Overthink your decision. I am fine either way. If you change the rules, there will be a short spike up for sure. I take the profit, say thank you and move on to the next coin. If you stick to your initial rules, I keep my coins and stay patient.

[JoeMue]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

This is good news. But I am confused... you are the true head of BitcoinZ and have control over Github repo and website? You did not initiate the facebook voting?

I really appreciate your statement!

[bitcoinz-pod]

This is good news. But I am confused... you are the true head of BitcoinZ and have control over Github repo and website? You did not initiate the facebook voting?

I really appreciate your statement!

Joe, this is fully decentralized coin, we only control bitcoinz-pod github account.
There are two groups here: supporters of original chain and big changes supporters.

If community wants big changes it is good reason to create new coin to not interfere - similar to ZCL / ZEN.

[llbrunoll]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

Ok, Everyone withdraw their coins from MyBitcoinZ, as the server will but shut down on Nov 28th.

-hellomoto

what??? what do you mean guy??? I am investing here. And I believe in the white paper. Be clear , please.

ps... are you just saying that the BTCz wallet will be shut down??? How is that possible? where do we move our coins if you do that? You can't do that. This is not fare.

[aussiegwapo]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

Ok, Everyone withdraw their coins from MyBitcoinZ, as the server will but shut down on Nov 28th.

-hellomoto

so BTCZ closing hellomoto

[vlsmk16]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

Ok, Everyone withdraw their coins from MyBitcoinZ, as the server will but shut down on Nov 28th.

-hellomoto

what??? what do you mean guy??? I am investing here. And I believe in the white paper. Be clear , please.

ps... are you just saying that the BTCz wallet will be shut down??? How is that possible? where do we move our coins if you do that? You can't do that. This is not fare.

only MyBitcoinZ wallet will be down, core wallet and network will work

[buzzkillb]

This is decentralized development coin. That's why we can have similar situations now and in the future It is additional risk.
Satoshi technology guarantees consistency here - original chain will always be active.

bitconz-pod team supports only original chain with core principles and immutability as the core value. Original chain will never be obsolete.
BTCZ is fully decentralized, any dev resistant and no one can stop original chain. Any change to consensus automatically creates new coin / hardfork.

Good luck with your new coin. You already have new github. It would be better to rebrand new chain to different name, ticker and new ann thread to not mislead investors. We can end up with two different philosophy chains similar to ZCL / ZEN.
There is no problem when you just rebrand new chain and add reply protection or just start from scratch - community coin with dev tax + voting may be needed on the market. Then direct competition / similar coins will be DASH or ZEN not BTC.

BitconZ will never:
- change supply & halving periods - always x1000 bitcoin = 21 000 000 000 (12500 coins per block halving every 4 years)
- add any tax - similar to bitcoin every tax is banned
- add masternodes / secure nodes - always all coins goes to miners - pools by default provide infrastructure nodes
BitcoinZ devs & contributors are always volunteers.

BitcoinZ is focused on organic growth. New exchanges may appear in long time. Dont expect huge gains in short time.

New coin updates are automatically merged from zcash / bitcoin core repos. There is no need to add dev tax as BitcoinZ coin core will always have the same features like zcash / bitcoin. Merge is simple operation and doesn't require any dev fee.

Ok, Everyone withdraw their coins from MyBitcoinZ, as the server will but shut down on Nov 28th.

-hellomoto

what??? what do you mean guy??? I am investing here. And I believe in the white paper. Be clear , please.

ps... are you just saying that the BTCz wallet will be shut down??? How is that possible? where do we move our coins if you do that? You can't do that. This is not fare.

Run a node like in OP to keep the chain going.