[ANN] [BTCP] BitcoinPrivate: A Truly Private Bitcoin [Equihash] - page 141.

antigin

full member

Activity: 275

Merit: 218

Quote from: fittsy on February 21, 2018, 10:57:32 AM

Marketcap is an extremely flawed way to look at things.

Having a giant supply of coins is an easy way to manipulate the flawed coinmarketcap. Let's say I create a coin and have 200 million coins outstanding. I sell one coin for $100. Now I have a $20 billion market cap. That doesn't mean I have a market for my 200 million coins. There may only be one person in the world willing to pay $100 for my coin. (my mom and she doesn't have $20 billion to buy the rest of my coins)

Bad example. You don't need to sell whole coin. I can sell 0.01BTC at 12k. You don't need 12k USD to register a trade and change the price of BTC for a moment.
I can make a blockchain even with one coin or contract with 1 token and 16 decimals. Then I can sell 10(-16) amount of that coin at 10(16)USD price. And market cap value of that coin will become 10(16)=10000000000000000 USD. How much money I have invested? Only 1 dollar.

katzzor

newbie

Activity: 6

Merit: 0

Will i get btcprivate if i have 0.1 btc?

NrX

sr. member

Activity: 770

Merit: 254

Since this fork was announced ZCL's price are doubled but still if someone is interested can get BTCP at more reasonable price by buying ZCL because of its low value in comparison to BTC. I was expecting some kind of ratio because of price difference of ZCL/BTC but they know better why they set sit kind of distribution formula.

boopy265420

legendary

Activity: 1876

Merit: 1005

People are not realizing the hidden potential of this fork. At least this fork can give tough competition to other privacy based coins which are also Bitcoin's clone. It isn't direct competitor to Bitcoin but all other privacy and anonymous coins market shares will be on stake after this comes into existence.

Messsir

newbie

Activity: 4

Merit: 0

Yesterday was a meetup in San Francisco. And again no information. Sad

brooklynite1

member

Activity: 630

Merit: 10

In BTCz we trust. Organic slow growth.

Quote from: Texacha on February 20, 2018, 11:21:38 AM

Coin like this already exist and it's called BitcoinZ , community-driver coin, without premine, without dev fee, equihash.

Yes but BTCZ is a community driven market with dedicated dev team and Democratic voting system on new projects to be implemented.

ZCL started great but ended up with devs jumping ship to create a new coin BTCP out of thin air that brings nothing to the table but pump and dump for the original ZCL. Remember ZCL is huge with pumps it recently went from $1.50 in Dev to $150 in Feb. So definitely in the pumped category.

Value doesn't just get created out of thin air. If that was the case, we could have created 1000 forks of ZCL and become billionaires overnight. Nope. Not gonna happen. Eventually the base coin and the fork will have the same total sum of market cap as if they haf without the forks, for example if BCH didn't exist BTC would have been worth 13% more today, at least that's my theory and its impossible to prove or deny.

brooklynite1

member

Activity: 630

Merit: 10

In BTCz we trust. Organic slow growth.

Quote from: jrrccmining on February 20, 2018, 12:43:33 PM

Quote from: Texacha on February 20, 2018, 11:21:38 AM

Coin like this already exist and it's called BitcoinZ , community-driver coin, without premine, without dev fee, equihash.

21 BILLION supply. Nobody wants that crap. BTCZ had a lot of potential, until they decided to do 21 billion instead of 21 million.

That comment is golden. You should be saying that on reddit! People are just too nice here.

You just called BTCZ the best coin ever as that is all you could come up with.

NoKeyboard-BTW

member

Activity: 68

Merit: 40

We get how the ZCL wallet works for the fork and has been documented. What I'm not clear on is the BTC side of things. If you have an Electrum wallet with BTC, there will be a snapshot - then export private keys to where, when? I've read there will be a step by step posted. I'm sure others would like to understand this side as well as myself.

Thanks

dunchy

sr. member

Activity: 299

Merit: 250

Quote from: hadevil on February 21, 2018, 12:06:01 PM

in which block will the fork happen?

This is a $1M secret. A ZCL price will tell you a few blocks before

mcfom

legendary

Activity: 1260

Merit: 1001

Though there is still one more week for fork to take place but time is approaching past to bring some twist in this fork by announcing names of exchanges. I hope this time yobit will not presented as only exchange from known. If there is no big exchange it will fail before even starting. That is important how some forked coin starts.

fraidycat19

member

Activity: 187

Merit: 10

It says on page 3 of BTCP whitepaper, in table 1, that the total supply for BTCP will be 21 millions and NOT 21 billions. Its very important because people are buying/mining knowing that 1 ZCL was ~100 USD before the fork pump. We are expecting a 1:1 parity to ZCL meaning roughly 100 USD/BTCP(or around 50 USD to 150 USD/BTCP).

If the supply were to be 1000 times greater that will be 100 USD/1000 => 0.1 USD/BTCP.

To summarize: I dont think that the total supply will be greater than 21 Millions. If it were so, both BTCP and ZCL will loose any thrust and become garbage.

hadevil

newbie

Activity: 8

Merit: 0

in which block will the fork happen?

fittsy

sr. member

Activity: 441

Merit: 252

Marketcap is an extremely flawed way to look at things.

Having a giant supply of coins is an easy way to manipulate the flawed coinmarketcap. Let's say I create a coin and have 200 million coins outstanding. I sell one coin for $100. Now I have a $20 billion market cap. That doesn't mean I have a market for my 200 million coins. There may only be one person in the world willing to pay $100 for my coin. (my mom and she doesn't have $20 billion to buy the rest of my coins)

As far as Bitcoin Private... They're forbidden to announce exchange support early. It's a legal issue. They've spoken about it in length at every single meetup they've done as it is a very common question they get. I don't know exactly how far in advance but we will know which exchanges are supporting it. Probably 48 hours or so in advance. You can safely assume that several will be supporting it as they are taking 50% of the donation mining pool and investing in exchange support. That's 8812 ZCL so far... plenty to pay exchanges to list it.

Remember the snapshot happens on the 28th but the coin doesn't officially launch until 2 days later.

Texacha

member

Activity: 480

Merit: 68

Quote from: Travis726 on February 21, 2018, 08:52:36 AM

really, no one is gonna point out how wrong this comment is? Ripple is number 3 in market cap with almost 40 billion coins. . .
edit: and for when you make some excuse for ripple, ada is #6 with over 25 billion coins..

I would, but he obv has no clue and I don't have time to argue on the Internet with random guy. Too old for this sh*t!

Travis726

newbie

Activity: 102

Merit: 0

Quote from: jrrccmining on February 20, 2018, 02:50:49 PM

Quote from: Texacha on February 20, 2018, 01:44:36 PM

Market cap is important, not total supply.

An absence of supply increases value and overall market cap. Investing 101.

You want a small float (outstanding shares) and high market cap. They go hand in hand.

really, no one is gonna point out how wrong this comment is? Ripple is number 3 in market cap with almost 40 billion coins. . .

edit: and for when you make some excuse for ripple, ada is #6 with over 25 billion coins..

sebushi113

newbie

Activity: 14

Merit: 0

Quote from: cryptodoll on January 02, 2018, 07:15:14 AM

Looking forward to BTCP, I am holding ZCL and think this is a fork with serious potential. It would be nice if there were future development plans for ZCL post-fork, to prevent imminent dumping of coin.

Quote

What happens to ZCL after the fork?

ZClassic will still exist. The community has discussed keeping ZCL in active development after the fork. We think this is great and fully support this.

https://btcprivate.org/#faq

Let's see

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: antigin on February 21, 2018, 12:09:42 AM

Quote from: Biggen1 on February 20, 2018, 05:53:15 PM

Quote from: IeSua on February 20, 2018, 05:14:50 PM

Only one week left. And we still do not know of any exchanges that will support the fork.

Why do you need an exchange to support it before the fork? Just download the https://github.com/BTCP-community/electrum-zcl/releases wallet and import your ZCL address after the fork. Eventually exchanges will offer BTCP/BTC trading pairs after the fork.

So why do we need Bitcoin Private hardfork? We already have ZCL, which is the fork of ZEC without devs commision, which is the fork of BTC with zk-Snarks? ZCL can rebrand its name to BTCP easily without that airdrop. So we need the airdrop, but why? To get more holders, liquidity, hype. So thats why we want more exchanges support.

It's all about the hype and reputation theft of the real Bitcoin. And as I said a few pages ago it is very dangerous to invest large amounts of money into ZCL just to get BTCP. It might dump extremely hard even before the snapshot. Take care everyone and don't be too greedy!

antigin

full member

Activity: 275

Merit: 218

Quote from: Biggen1 on February 20, 2018, 05:53:15 PM

Quote from: IeSua on February 20, 2018, 05:14:50 PM

Only one week left. And we still do not know of any exchanges that will support the fork.

Why do you need an exchange to support it before the fork? Just download the https://github.com/BTCP-community/electrum-zcl/releases wallet and import your ZCL address after the fork. Eventually exchanges will offer BTCP/BTC trading pairs after the fork.

So why do we need Bitcoin Private hardfork? We already have ZCL, which is the fork of ZEC without devs commision, which is the fork of BTC with zk-Snarks? ZCL can rebrand its name to BTCP easily without that airdrop. So we need the airdrop, but why? To get more holders, liquidity, hype. So thats why we want more exchanges support.

Mankov

jr. member

Activity: 428

Merit: 7

Caution!

The recently listed BTCP on Forkdelta is not Bitcoin Private

https://twitter.com/ForkDelta/status/965380410325782531

Biggen1

newbie

Activity: 64

Merit: 0

Quote from: IeSua on February 20, 2018, 05:14:50 PM

Only one week left. And we still do not know of any exchanges that will support the fork.

Why do you need an exchange to support it before the fork? Just download the https://github.com/BTCP-community/electrum-zcl/releases wallet and import your ZCL address after the fork. Eventually exchanges will offer BTCP/BTC trading pairs after the fork.

Topic: [ANN] [BTCP] BitcoinPrivate: A Truly Private Bitcoin [Equihash] - page 141. (Read 117313 times)