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Author Topic: [ANN] [BTCP] BitcoinPrivate: A Truly Private Bitcoin [Equihash]  (Read 33661 times)
BTCPrivate
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January 01, 2018, 09:32:02 PM
 #1


Update: The fork began on March 2, 2017 and finished on March 3, 2017. You can read more on how to claim your BTCP here.

BITCOIN PRIVATE

Similar to Bitcoin, BTCP will support peer-to-peer transactions without an intermediary. These transactions will be verified by network nodes through the use of cryptography and recorded in a public ledger. Unlike Bitcoin, BTCP supports an increased block size and block time for faster transactions with lower fees. Furthermore, transactions can be performed on a private (z) ledger. When sending from one private address to another, the sender, recipient, and amount are all private.

You can read our whitepaper here.


The importance of Bitcoin Private

Recently, it has become clear that the crypto community’s privacy is at risk. Everytime one makes a transaction on the Bitcoin blockchain, the transaction is recorded on the blockchain in perpetuity for anyone to see. We have seen the BitFury Group use this information to de-anonymize over 15% of the entire Bitcoin network, along with many other examples. This led us to create Bitcoin Private (BTCP) - a fork-merge of the ZCL & BTC blockchains and introduction of the zk-SNARKS feature to Bitcoin.

The hard fork will allow users to safely transfer their digital currency without any threat to their privacy, known as shielded transactions, on the Bitcoin Private blockchain. For example, transactions would still take place on this Bitcoin based blockchain, except without being recorded on the public ledger -- leaving absolutely no trail of your transaction details to anyone other than the sender and recipient. This has never been done before with any Bitcoin hard fork. Ultimately, privacy was once a cornerstone of Bitcoin but can no longer be guaranteed today.

Aside from the shielded transactions, Bitcoin Private is also making transactions faster and more efficient by doubling the Bitcoin block size from 1MB to 2MB and decreasing the block time from 10 min to 2.5 min.


The Future of BTCP

We have posted a "March Sprint" on reddit which details our immediate plans after the fork. You can read more about it here. A long term, high level roadmap is forthcoming.

Moving forward, the Bitcoin Private team will continue securing appropriate partnerships to bolster the Bitcoin Private initiative. You should expect announcements around these partnerships to continue throughout 2018 as we seek to build a sustainable technology platform.

We anticipate our development team to continue growing in headcount and skill set, which allows us to build out our ambitious post-fork technology roadmap. The successful execution of our roadmap will allow Bitcoin Private to deliver superior value to other Bitcoin hard forks, especially around privacy and transaction speeds. Ultimately, we believe in a cryptocurrency world where everyone can trust their privacy will be respected.


BTCP Specifications

Circulating coin supply: 20.3 million
Total coin supply: 21 million
Block reward: 1.5625 BTCP
Block time: 2.5 min
Block size: 2 MB
Halving schedule: 210,000 blocks
Privacy protocol: zk-SNARKs


FREQUENTLY ASKED QUESTIONS

Who is running the project?
See our team here.

Was there a premine or a founder's reward?
No.

How do I mine BTCP?
See https://btcprivate.org/pools.html

How do I get involved in BTCP?
Please reach out to us on Reddit, Twitter, Discord, or Telegram.

How do I claim my BTCP from ZCL and/or BTC?
See this reddit post.

How many BTCP will there be after the fork?
There are approximately 3 million ZCL and approximately 16.7 million BTC, so there will be approximately 19.7 million BTCP after the fork.

Can I donate to the team?
Yes you can! We're all volunteers and as such your donation is greatly appreciated. See the below wallet addresses.

Bitcoin Private (BTCP)
Website: https://www.btcprivate.org
Support: https://support.btcprivate.org
Press: https://btcprivate.org/press.html
Team: https://btcprivate.org/team.html
Wallets: https://btcprivate.org/#wallets
Pools: https://btcprivate.org/pools.html
Github: https://github.com/BTCPrivate/BitcoinPrivate
Whitepaper: https://btcprivate.org/whitepaper.pdf

Social Media
Twitter: http://www.twitter.com/bitcoinprivate
Telegram Group: http://t.me/bitcoinprivate
Telegram Announcements: http://t.me/bitcoinprivatenews
Coinmarketcap: TBA after exchange listings
Reddit: https://www.reddit.com/r/BitcoinPrivate/
Discord: http://discord.gg/9DyxXnx

Exchanges
HitBTC and TradeSatoshi
Support: KuCoin (BTC) and Bittrex (ZCL)

Contribution Team Donation Addresses:

BTCP: b1GqM8B97ZUAbccnTuUAnV4y3siEcVrjNQp
BTC: 1CqSD9rxdQnKEwzqqbLwpgwCeQikFCifPj
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BCH: 1MxJteinBWHMUibDxADujrgzXfX1LeVZKN
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January 01, 2018, 09:38:31 PM
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Pool: https://btcp.suprnova.cc

suprnova pools - reliable mining pools - #suprnova on freenet
https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
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January 01, 2018, 09:42:38 PM
 #3

I got a little late, it's still possible to buy ZCL and switch to BTCP, right? Updating ZClassic was one of the things expected by many people, I'll be watching! BTCP will have the advantage of being already on Bittrex.
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January 01, 2018, 09:42:48 PM
 #4


How will BTCP be distributed?
If you have 1 ZCL, you keep 1 ZCL and get 1 BTCP, if you have 1 BTC, you keep your BTC and get 1 BTCP.


Combining the BTC ledger with an existing blockchain to do like a double fork merger is really a brilliant idea. Has any other project done this before? Now ZCL essentially becomes BTCP futures.
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January 01, 2018, 09:45:06 PM
 #5

I hope BitcoinPrivate will be listed at Kucoin and Binance will you try to get this listed on those exchanges?

TOP 5 Cryptocurrency exchanges 2018 (https://mykucoin.com)
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January 01, 2018, 09:45:27 PM
 #6

Oh man, I can't wait for this!  Wink

Quote
What is going to happen to ZCL after the hard fork?
It will still exist, though we are unsure how its development will continue as of right now.

Need to address this quick please. Im sure others are dying to see whats going to happen to ZCL

Also, can you guys stop saying "check this and that on site X or B" and just link the guide? A lot of confusion lately regarding ZCL and BTCP reddit.

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January 01, 2018, 10:06:03 PM
 #7

OK.  Always looking for nice new privacy technology.

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January 01, 2018, 10:10:31 PM
 #8

Seems really nice project.
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January 01, 2018, 10:19:03 PM
 #9

Will add to our pool
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January 01, 2018, 10:22:32 PM
 #10

Can't open the gui, it just flashes the black command screen and does nothing.
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January 01, 2018, 10:37:35 PM
 #11

if "1 btc : 1 btcp, 1 zcl : 1 btcp,"  It makes more sense to keep zcl. So i will zcl HOLD!  Like a better fork than the others. when the snapshot is to be announced?

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January 01, 2018, 10:55:11 PM
 #12

Exciting!!
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January 01, 2018, 11:09:56 PM
 #13

Lets see how this plays out.  Wink

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January 01, 2018, 11:46:17 PM
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WOOOOOOOOOOOOO
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January 01, 2018, 11:52:53 PM
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So half the coins go to ZClassic holders and the other half go to bitcoin holders? That explains the $21277000 ZClassic volume on bittrex today.
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January 01, 2018, 11:56:02 PM
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So half the coins go to ZClassic holders and the other half go to bitcoin holders? That explains the $21277000 ZClassic volume on bittrex today.
Not quite. 1.8 million ZCL and 16.5 Million BTC so a lot more BTCP will end up in the hands of BTC owners than ZCL owners. The price went up because its a lot cheaper to buy ZCL than BTC so from a cost benefit perspective, ZCL is the cheapest way to get BTCP when the fork occurs
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January 02, 2018, 12:00:48 AM
 #17

Definitely, the price exploded days ago from 4 usd to over 118 USD, then whales try to manipulate the price, with success in order to buy more for themselves, so now it´s time to HODL this coin, as the BTCP will be worth at least 345 USD at the moment of fork, now we need to spread the word and collaborate to this project, exchanges will be forced to have it listed as all btc holders will have same value in this coin also!
It´s a hit hit go! Shocked Cool Grin Cheesy Wink

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January 02, 2018, 12:11:44 AM
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So half the coins go to ZClassic holders and the other half go to bitcoin holders? That explains the $21277000 ZClassic volume on bittrex today.
Not quite. 1.8 million ZCL and 16.5 Million BTC so a lot more BTCP will end up in the hands of BTC owners than ZCL owners. The price went up because its a lot cheaper to buy ZCL than BTC so from a cost benefit perspective, ZCL is the cheapest way to get BTCP when the fork occurs

OK I understand now, I assumed both ZClassic and bitcoin had roughly the same number of coins in circulation, but didn't realize ZClassic has a much lower circulating supply.
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January 02, 2018, 12:49:10 AM
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Definitely, the price exploded days ago from 4 usd to over 118 USD, then whales try to manipulate the price, with success in order to buy more for themselves, so now it´s time to HODL this coin, as the BTCP will be worth at least 345 USD at the moment of fork, now we need to spread the word and collaborate to this project, exchanges will be forced to have it listed as all btc holders will have same value in this coin also!
It´s a hit hit go! Shocked Cool Grin Cheesy Wink

BTCP will be worth more than BTG. BTCP is everything BTG wanted to be, but they had no developers.
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January 02, 2018, 12:53:19 AM
 #20

if you have 1 BTC, you keep your BTC and get 1 BTCP.
And the rich get richer. Sweet.
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