Has #BitcoinPrivate been treated unfairly by special corporate interests in the #Bitcoin ecosystem?

in bitcoinprivate •  5 months ago

It is not often @bittrex is the cause of drama but in the case of BTCP, crypto users worldwide wonder about what happened to the integrity Bittrex has gained over the years to bluntly make synthetic speedbumps in the road of maybe one of the most disruptive, brilliant and extremely active OpenSource project that has happened in #Bitcoin ever.

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Free Speech Activist - I AM! - WRITE I MUST!

Bittrex is an SEC-regulated trading-platform for cryptocurrencies. According to Bittrex March 7th statement, they are "committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to their customers"

committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to their customers

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What exactly is a so called commitment, Webster?

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What exactly is a so called commitment, Abraham?

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What exactly is a so called commitment, Random person?

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So now that we have established the wide definition of what the word commitment means and understood by everyone, what about BitcoinPrivate?

Today the Bitcoin Private team caught my attention with a Reddit-post, and I will quote it here and link to the source:

Earlier today, a user received a support reply from Julian Yap at Bittrex, which you can see here. We were a bit surprised at the response because most of it is false and misrepresents the actual preparation our team made ahead of the fork. Because of this, we felt the need to respond; before we wrote this response, we confirmed with Julian Yap that the support ticket reply was legitimate.

We were informed by Julian Yap in January that Bitcoin forks were frowned upon and sent to the following article. Regardless, we continued to develop and follow the policy Julian supplied to us.

We applied to Bittrex formally on Jan 29, 2018, to support the Bitcoin Private hard fork and list Bitcoin Private. We received an email back from Julian Yap on Jan 31, 2018, outlining that Bittrex would review the coin and would not inform us if our coin was accepted or declined. We didn’t hear back from anyone on the Bittrex team until two days before the snapshot (Feb. 26) where Julian Yap outlined his concerns with specific regard to “industry-wide support.” Bittrex then updated their fork policy (link above which also shows policy revision dates) to state this only after our conversation. Two days was simply not enough to address such a non-specific concern, particularly when our full focus at this point was the mainnet launch. It’s important to note that when we approached various entities about fork support, we were often met with “Why isn’t Bittrex supporting the fork?”

We had multiple testnets up prior to the fork which Bittrex was welcome to connect to. We gave them to our partners, such as Coinomi, weeks in advance of the fork. Our first testnet was up on January 27th. The second testnet was up on February 24th. There were many connections to both testnets, including several mining pools.

Our point of contact, Julian Yap, never mentioned SegWit support being a concern. To the extent of our knowledge, Bittrex does not support SegWit, so this is an odd concern for them to have. Furthermore, we have partial SegWit support (claiming is in testing now) and full SegWit support will be coming soon. We have full records of all correspondence with them and have confirmed they never mentioned this as a concern. If requested by Bittrex, we are more than willing to provide this evidence. As a part of our initial outreach to The Bittrex team in late January, we sent a detailed report outlining our mission, community support evidence, plans to outline that the open source community is taking this project seriously, etc. No questions were ever asked on any of this detailed material. Julian Yap’s support reply implies that we were notified of “other requirements” by Bittrex weeks in advance, which is false.

To reiterate, we felt a need to respond as many members of our community have responded to Julian’s support reply and are rightfully asking for clarity surrounding this scenario. Furthermore, we will continue to respect Bittrex’s right to whatever coins/tokens they wish to support.

We are confident that with continued development of our technology, the imminent real world adoption of our user friendly merchant products, and dedication to creating an ecosystem that helps bring private transactions to a mainstream audience that our community and industry wide support will continue to grow.

For continued progress and outlining of our various strategies, please check out our Medium account.

From: https://www.reddit.com/r/BitcoinPrivate/comments/886qhs/clarification_on_bittrex_prefork_process/

Are they really THAT afraid of BitcoinPrivate? Is it really THAT powerful?

To me, who has seen thousands of listings and de-listings happening on Bittrex since 2014, it puzzles me that this particular token seems to be... censored by some weird special power that seems to have taken hold on Bittrex. I mean, they are by their own statement committed to listing BitcoinPrivate, that is what the SEC expect that they do. It puzzles me also that Bittrex has since the very start had a policy about giving all projects a chance to make it or break it, but all of a sudden - with this particular coin - Bittrex put the breaks on, changed its policy quickly, just like @Poloniex did right before BitcoinCash became available and they screwed their liquidity providers and was forced to sell to Circle.

Hey Bittrex - If you are going to sell your exchange, sell it to us, your users! We will give you a better offer then the banksters you must be dealing with... that is what we speculate about because of your odd behavior in the BitcoinPrivate case.

At the time of this article, BTCP is trading at $23,16 USD (0.003 BTC) and listed on TradeSatoshi, Nanex, Ocatex, TradeOgre and Exrates with a total marketcap of: $470.4M https://coinmarketcap.com/currencies/bitcoin-private/#markets

What do you say? Comment below!

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Bitcoin private was not treated in a shitty manner.

It’s just that all of these top exchanges are aware of Rhett and his foolishness. So if there is to be a complaint aBout anyone it should be against Rhett. As it won’t be long before he abandons this project for his next fork.

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Tell me more about this, Rhett and why an opinion about him is relevant for a blockchain... Satoshi Nakamoto has a bad reputation too, why is his coin listed, he seems to be nowhere to be found. Hell, even Bitconnect is listed on Bittrex... So again my question - what is it about BTCP that had millions of dollars in volume every day for a whole month during the snapshot period that should deny them access to the free market for trading? Does not Bittrex has an obligation to do so according to their own statement?

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Actually you tell me me what you know about Rhett. I ask because you asked what his past has to do with blockchain.

Short answer. Lots.

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This case has corruption written all over it, someone must be paying to keep BTCP off the market.

From what I have seen, he is able to 1) Bring a large group of voluntary developers to work together on a project that seems to be 2) Worked against by special interests since exchanges announcing it change their minds.

If exchanges are being paid to not list BTCP, then that is something that should be addressed. Because these coincidences are not what anyone should accept as normal.

It is not an accusation, it is a strong feeling of corruption surrounding this particular case, and your short answer is not a good enough answer. BTCP now runs on consensus, so what you feel or do not feel about a person involved in the creation of the coin is irrelevant in my opinion.

Someone must be paying to keep BTCP off the market, it feels like strong corruption!

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Hmm so it has nothing to do with the fact that he is a habitual coin forker? Or the fact that zcl was purchased in mass before the announcement.

Or let’s look at his projects with Gary le.
Such as Ztoken which was a failed fork. Or the ico they are quietly running. Which is literally a direct fork of a project from grin.

If I was s exchange I would avoid adding projects that were sure to be abandoned as soon as donations ran dry.

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so are you telling me you and they know the future?

Bullshit.

Exchanges have ONE job, and that is to LIST coins and make trading markets in secure environment, if they cannot LIST coins, they should run out of business.

Talking smack about a person and using that as an argument for a coin that is already in consensus is just stupid.

Come with some real arguments.

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Agreed! Steem and SBD were temporarily disabled for weeks or months at a time.

They also delist coins with only a week or two of notice.

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my problems with bittrex is that they are US based and like everyone else they do what they please, freeze coins out of the blue, "don't support terrorism" ie. liberty like withdrawing your own money unless you give up your privacy...

But that's neither here nor there, I'm happy that BTS is around for what it's worth, I would be more than happy if people started being responsible and took some liberty to exchange and trade freely, buut that's in the realms of the "hopes and dreams"

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It’s not knowing the future, if history sets a precedent.

And exchanges have one job indeed, list coins that will be most visible with the least headache. If not every Joe Schmo would fork and force their way into exchanges.

And it’s not just a person it’s the lead dev. If it were anyone else I’d just be a blip. As an exchange why on earth would a list a coin that has a high probability of being abandoned?

hey fystikken, great talk boss, i remember you speaking about BTCP and even asking you questions about it in steemspeak and golos.

It suprises me that bittrex would go this length just because of bitcoin private.

Like you asked, are they scared of it?

The wholes cryptosphere infact seems to have forgotten that the coin exists, but its very much still alive.

Ill continue to hold mine though, lets see how things pan out in the future.

Thanks a bunch for this communication, I was already wondering what the hell was going on with BTCP and any news about it.

I love trading shitcoins as much as you do and all... but to call BTCP

one of the most disruptive, brilliant and extremely active OpenSource project that has happened in #Bitcoin ever.

is kind of weird to me seeing as it's a fork of ZClassic.
Source

Do I think something is weird about this? Not at all, there's other shitcoin forks that got similarly treated, LTC Cash comes to mind, it got shunned pretty much universally as well. In fact I didn't even get the option to withdraw it from Bittrex. Personally I think the 1:1 parity of BTC and ZCL was extremely gimmicky and the people shilling for BTCP pre-launch seemed like your average pump and dump choir to me. Business as usual in the shitcoin industry from my perspective.

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I would normally think the same, dumb shitcoin-fork, like they all are. But it is a matter of making it or breaking it, and I do not think that censoring BTCP from Bittrex where the original volume was is the right way to go.

If it does not make it, they can delist it. But to not list it, creating problems, acting scared - I do not subscribe to that idea at all.

Their Github and Discord community is huuuuge compared to most others, so I question if this... shaddowbanning of BTCP is right or wrong.

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That's a valid point, generally when an exchange expresses they will support the fork to the extent of acknowledging it happened I would think they would list it too, it doesn't hurt them to do so unless it's a clear scam like shitconnect or something. I'll be paying attention to what they do with future forks like this for sure.

Today Bitrex gradually becomes an uncomfortable overly bureaucratic platform. I would gladly see BTCP on Binance and Bitfinex. I invested in ZCL(and then respectively in BTCP) and can say the BTCP team is not proactive after the fork, thay did tons of promises in twitter, but.. the most did not implement, so now BTCP is slowly moving down

Leaked the secret information about bittrex..@fyrstikken

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damn that was fast.

Bittrex has worked so hard to become the trusted platform that it is presently. The promoters should be careful not to make that go down the drain

what exchange can serve as an alternative to Bittrex? I trust Bittrex. Just get from there my first Steem 😊

Hi @fyrstikken
Excellent article. I subscribed to your blog. I will follow your news.
I will be grateful if you subscribe to my blog @user2627
Good luck to you!

Bittrex is an SEC-regulated trading-platform for cryptocurrencies.

You did not put enough effort into realizing what this means.

It's obvious what happened to BTCP. I agree that Rhett is also a negative but no serious exchange (specially one in US) wants to fuck with a coin that could bring upon them heavy hands of regulation when they come into effect in July.

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no serious exchange (specially one in US) wants to fuck with a coin that could bring upon them heavy hands of regulation when they come into effect in July.

no exchange has ever been serious, crypto has been a game for players. The only reason Bittrex has customers is that we believe it is a stronghold/fort that cannot be easily hacked. Look how quickly the trading-volume went down from Poloniex and up on Bittrex when Poloniex fucked with their customers, and now we see customers leaving Bittrex for somewhat the same reasons.

When it comes to trading, Bitfinex and other major exchanges have already announced that they will decentralize themselves and support atomic swaps and other means of regulation free trading.

there was not even an ICO done in BTCP, and every single Bitcoiner has them. Not a good idea to screw with the markets like that, as traders we are nomades and move on.

It's obvious what happened to BTCP.

Yep, they got screwed by Bittrex and now it will be obvious what will happen to Bittrex.

don't know what's happened with that but bittrex here is the villain and in someday they will get doomed with their policies

Bittrex is a total sellout. They pissed in their pants when the AML rumors started and stopped all new sign ups. They also halted all withdrawals until customers coughed up their documents. I say fuck off Bittrex.

A two thousand dollar limit per day was and still is legal. I left Bittrex and won't look back.

If they were to sell to the users, you could count me in though.

Well, the cryptocurrency markets are seeing a shakeout happening still. The interesting part is that Bitcoin's dominance has gone up. The good news is that the marketplace is around where it was in November of 2017. So, some people thought that they were late to the party...well, right now, it is like getting in "early" before the second boom. We don't see the market going too much lower before heading back up, though it may bounce within a certain range for a bit.

There are no guarantees in life, but we do think the market will head back up. This is such a revolutionary technology that has made such a big splash in the pond that it will keep going. Patience is a part of the game.

One key thing to remember though is that many of these cryptos are absolute junk. An analyst said one thing interesting...that there could be $100 billion or more of junk coins to be shaken out of the marketplace before things go back up. This also explain's BTC's dominance going back up.

Also, keep in mind that the regular stock market has been getting hammered as well.

So, we continue to build our portfolio's and trade the bounces. We put some information out there about how to profit during these times where the market is flat, and we will have more information on that this week, so, keep you eyes peeled!

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well said, although I missed the "voting window" anyways, the boom and bust shouldn't matter, what matters is what changes, currently people are ok with being "taken care of" and "provided security" BTC probably dominates because it's still the first and what everyone says and thinks when they think cryptocurrency

Bitcoin has the right balance of pros and cons. That's why it's so popular.

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great coin 5 years ago |:D