[BITZ] The Only 10% PoS Crypto to have

[jahras]

I may have ask before, what was the premine, dev?

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[EBK1000]

I may have ask before, what was the premine, dev?

There was no premine but due to an oversight with the difficulty the first 3000 blocks, i.e around 105,000 Bitz were mined very fast, probably by Shadow_runner or someone solo mining at the start. They didn't all go to one person at least. I don't think thats a big problem now though, the network is stable and running fine. If you have a look at the rich list it's obvious that some people are sitting on quite a few Bitz but I suspect that once we get wider adoption they will start to dump to cash in and the Bitz will spread and then the value will slowly climb, thats what I think...

[jahras]

Is bitz anon?

[EBK1000]

Is bitz anon?

No, Bitz is as anonymous as any other crypto like Bitcoin. It depends on what you mean. There is no focus on 'hiding' transactions or 'hiding' your IP. I believe the so called anonymity features of some coins are just hype and a fad. Although the Bitz ledger (blockchain) is public (block explorer) like say, Bitcoin and Litecoin nobody watching the blockchain will have information on who is sending to who and most importantly WHY?

So, even if a snooper of some description saw that, say 10,000 Bitz, were sent to an address, say BDVVLfpVbcjsMzKQacWnQFK37iLcCjGqpU he would have no information whatsoever who actually sent it and why. This information is only available if the two parties making the transaction make it public. If the snooper had the means he could trace the IP maybe but bear in mind that an IP do not identify a person.

Anonymity is relative anyway, so if the powers that be put all their resources into tracing you my guess is that they would be able to even if you used anonymity features. You will remember that many so called 'dark web' sites on the Tor network were traced recently and that there are numerous examples of very high level hacking and breaking of various encryption probably by a state power. Also, do not expect the state powers to reveal what they can and can't do. If they are able to break encryption they WILL NOT tell you.

So, in my view the question you have to ask yourself is; are my activities of such a nature that may attract the attention of the FBI, NSA, MI5 etc. and are my activities of such a nature that would prompt said agencies to spend a hell of a lot of money and resources to track me down? If the answer to the above is yes, I suggest that it is not safe to use any crypto to conduct your affairs. I guess that's why most serious criminals still use the most anonymous of all payments methods; cash!

If you are doing 'normal' stuff don't worry, anonymity is hyped up and the vast majority of people do not need it because they are of no interest to the law enforcement community. They are not going to spend a lot of money tracing random people.

I want Bitz to be above board and I feel that a drive towards anonymity (that I have explained is relative anyway) only reinforces the view of the masses that crypto is dodgy and that people are using it to hide their shady activities. I don't buy into the civil liberties argument in relation to cryptos either as they are all 'anonymous enough' for anything that isn't terrorism, murder or high value international drug trafficking etc.

Your views?

[EBK1000]

Help get Bitz to Bittrex:

Tweet:

@BittrexExchange need to add #Bitz @bitz_currency - new PoS only #cryptocurrency with long time support and plans for the future #bitcoin

and retweet my tweets...

New wallets are being tested and will be out soon...

[jahras]

I think the same about the anon thing, it's just that anon coins get more attention.

like you've mentioned, it's best to keep things above board and not give dissenters any ammo.

Thanks for your thorough response.

How is the white paper and website getting on? Hoping things will pick up after these are ready.

Noticed all the scam coins recently?  unneeded features, masternodes, and flashy graphics are sucking a lot of people in.

Bitz deserves more, much more...


EDIT: checked out the website... looking good .

[EBK1000]

After a few adjustments we have been testing the new wallet again. We have changed it from the old style wallet to a new style wallet that will more easily allow for additional features in the coming months. We have added the block explorer to the wallet this time and redesigned the colour scheme and logo. We will have the new style wallets version 1.1.0 out for download in a few days for all platforms.

There are further features planned to be implemented in future versions.

[DOGEbubble]

.............Bitz deserves more, much more...

He is right. 

[EBK1000]

I have now set up a dedicated forum for Bitz at: http://forum.bitz.biz/index.php

This is not meant to void this discussion thread but is meant to supplement and to provide a forum for anyone that wants to get more involved and have a say as to how Bitz will progress. I will update this thread as well with any major updates and news but I feel that it is more constructive to have separate topic to discuss any technical issues and to discuss features in more details.

Feel free to join if you want to get involved...

[rahmad2nd]

I have now set up a dedicated forum for Bitz at: http://forum.bitz.biz/index.php

This is not meant to void this discussion thread but is meant to supplement and to provide a forum for anyone that wants to get more involved and have a say as to how Bitz will progress. I will update this thread as well with any major updates and news but I feel that it is more constructive to have separate topic to discuss any technical issues and to discuss features in more details.

Feel free to join if you want to get involved...

Very nice dev, i hope your project will be success

[idol]

I have now set up a dedicated forum for Bitz at: http://forum.bitz.biz/index.php

This is not meant to void this discussion thread but is meant to supplement and to provide a forum for anyone that wants to get more involved and have a say as to how Bitz will progress. I will update this thread as well with any major updates and news but I feel that it is more constructive to have separate topic to discuss any technical issues and to discuss features in more details.

Feel free to join if you want to get involved...

great to see consistent work ty dev

[EBK1000]

We are building a new master node but I am hoping to get a second one up and running as well, this whole thing is funded out of my pocket so I am hoping that the community will help to fund another node. This will help to keep the Bitz network stable over time:

[EBK1000]

new permanent master node:

addnode=192.64.115.186

[jahras]

Hi dev, what exactly are masternodes?

[EBK1000]

Hi dev, what exactly are masternodes?

It's just a VPS server running a Bitz client that is not staking and just helps to keep the consensus of the blockchain and keeps it in sync so helps to avoid orphans (mini-forks) on the blockchain. I had two nodes running before but moved to another VPS provider and if you see 'Extraction' tab in the block explorer you can see the number or orphans and now after the new node is running Bitz 1.1 the number of orphans dropped. So, the network is more secure and stable...

[jahras]

So it's just a node with a public ip and high reliability? Why is there always such fuss about masternodes for other coins?

[EBK1000]

So it's just a node with a public ip and high reliability? Why is there always such fuss about masternodes for other coins?

Because it keeps the sync better. Without a node the network might become unstable if there are too few wallets

[jahras]

Until dev updates ANN, the whitepaper and new wallets can be found here: https://bitz.biz/index.html

[rahmad2nd]

How long to mature coin to stake

[EBK1000]

How long to mature coin to stake

About 24 hours