Name of project:
BulpCoinThread creator:
BrotherBTCProject website:
https://bulp.ml/This project has 3 red flags going for it (counted so far -- I highly doubt the legitimacy of their "partnerships" as well).
1. Original wallet contained
keystroke logging malware. This was first discovered on April 19th. There is now no wallet available for download, but in spite of this, somebody recently sent their
masternode purchase address 0.1 BTC.
2. Most of this project's content was copied from the
Dash features documentation.
Here is a link to their
white paper (
archived).
I've included a few snippets from both documents for comparison.
Dash:
Masternodes
In addition to traditional Proof of Work (PoW) rewards for mining Dash, users are also rewarded for running and maintaining special servers called masternodes. Thanks to this innovative two tier network, Dash can offer innovative features in a trustless and decentralized way. Masternodes are used to power PrivateSend, InstantSend, and the governance and treasury system. Users are rewarded for running masternodes; 45% of the block reward is allocated to pay the masternode network.
BulpCoin:
MASTERNODES
Users are also rewarded for running and maintaining special servers called masternodes. Thanks to this innovative two-tiered network, BulpCoin can offer innovative features in a reliable and decentralized way. Masternodes are used to power PrivateSend, InstantSend, and the governance and treasury system. Users are rewarded for performing masternodes: 80% of the block reward is allocated to pay for the masternode network.
Dash:
PrivateSend
PrivateSend gives you true financial privacy by obscuring the origins of your funds. All the Dash in your wallet is comprised of different “inputs”, which you can think of as separate, discrete coins. PrivateSend uses an innovative process to mix your inputs with the inputs of two other people, without having your coins ever leave your wallet. You retain control of your money at all times.
Bulpcoin:
PRIVATE SEND
PrivateSend offers real financial privacy by obscuring the origins of your funds. All the BulpCoin in your wallet is made up of different entries, which you can consider as separate and discrete coins. PrivateSend uses an innovative process to mix your entries with the entries of two other people without your coins coming out of your wallet. You keep track of your money at all times.
Dash:
InstantSend
Traditional decentralized cryptocurrencies must wait for certain period of time for enough blocks to pass to ensure that a transaction is both irreversible and not an attempt to double-spend money which has already been spent elsewhere. This process is time-consuming, and may take anywhere from 15 minutes to one hour for the widely accepted number of six blocks to accumulate. Other cryptocurrencies achieve faster transaction confirmation time by centralizing authority on the network to various degrees.
Bulpcoin:
INSTANT SEND
Traditional decentralized cryptograms should wait for a certain period of time for sufficient blocks to pass to ensure that a transaction is irreversible and not an attempt to spend twice the money that has already been spent elsewhere. This process is timeconsuming and can take from 15 minutes to an hour for the widely accepted number of six blocks to accumulate. Other crypto-currencies achieve faster transaction commit times by centralizing authority on the network to varying degrees.
3. The project has no team information and no mention of a team anywhere. ICOEthics questioned them repeatedly about this; they first failed to respond and then told him to go join their Discord server...
After discovering they had plagiarized their white paper and seeing they never put in a new (unvirused) wallet, its safe to say that this project is a scam... A masternode cashgrab at best and an attempt to hack accounts belonging to wallet downloaders at worst.