ADSactly Spotlight on Cryptocoins -- BitcoinZ/BTCZ -- 8th feature "private" coins

in crypto •  10 months ago

Spotlight on Cryptocoins -- BitcoinZ/BTCZ -- 8th feature "private" coins

Hello Steemians

In this series of articles I want to put a spotlight on a specific cryptocurrency and write about the details in all these aspects:

  • Aim of the currency

  • Technical details

  • Market position

  • Forecast

The cryptocurrency in focus currently will be one of the so-called "private" coins. Coins that create the possibility to be more or less in private while doing transactions. How private you are is one of the main questions to be answered in this articles.

In this 8th article of the series, the spotlight will be on BitcoinZ.




PictureSource

Aim of the Currency

What is this currency about? What does it do differently than the rest?
Where is the unique selling point and at what audience is this coin targeted?

All that questions and more will be answered in the following paragraph.

BitcoinZ is one of the smaller players on the private coins' market and is also a new kid on the block. It has been founded on September 9th, 2017 by an anonymous developer. It is based on the ZCash Core and brings on ZkSnarks for completely anonymous transactions.
BitcoinZ is a pure PoW Coin using the Equihash algorithm, in trying to keep this coin ASIC resistant.

Technical Details

BitcoinZ has wallets that support Linux, Mac, and Windows as well as a mobile app for Android devices, the source code for them is completely visible on Github.

BitcoinZ is a pure PoW coin using the Equihash algorithm (like ZCash, Hush...) for improved resistance against ASIC computation. The developers are also ready to switch this to another algorithm if ASICs for Equihash would be on the market.
Maximum number of coins is 21 Billion just like Bitcoin has, Block Time is 2.5 Minutes with 2MB Blocks
Privacy of transaction is achieved using Zk-SNARKs, just like ZCash or ZClassic. The coin itself advertises with the sentence, ZClassic spirit, ZCash Core, Bitcoin Fundamentals.
There was no ICO, no premine and there are no dev taxes. Fair and decentralized distribution is a very important value for this coin and the community.

Please see Whattomine.com if you are interested in probable mining revenues, but take care the coin is currently not on the official list.

Market Position

At the time of writing this article (01/21/2018), BitcoinZ is placed 471th in market capitalization, with the total value of $12.678.297 USD. The 24h Volume was $185.620 which is a high number compared to the last month.

The decentralized team around BitcoinZ is very active on all social media platforms, especially on twitter.

January is always a very turbulent month for cryptocurrencies, BitcoinZ is no difference there. The coin had its all-time high on January 9th with 0.027 Dollar per BTCZ, afterwards, it went down to 0.008 and now is back up with 0.013, which is the initial value the coin had beginning of January.


GraphSource


If we are looking back one year into the past we see that BitcoinZ had a spike in BTC Value in October*, because of the listing of BTCZ on different exchanges. The activity on the market has recently grown a lot, it seems the coin is getting known within the community more.


GraphSource

Forecast

Just like all the other private coins BitcoinZ for sure has a valid point in trying to keep the privacy of the sender and receiver.
BitcoinZ is a very young cryptocurrency not listed on many exchanges currently. If the team can manage to get listed on some of the bigger ones, there will for sure be a nice raise in price.
Technically this coin is currently nothing new. Nevertheless, the market for such coins is for sure a given.
They are working currently on a lot of things, especially the masquerading technology will for sure be a boost for the coin. The Roadmap of the coin can be found here.

Conclusion

BitcoinZ is keeping your transaction details hidden by using Zk-SNARKs, IP privacy is currently not guaranteed, you would need to setup a TOR by yourself.
BitcoinZ is developed by a decentralized community, is completely open source and can be altered following votes that can be cast on the website.

Last but not least there are also some drawbacks and they should not be unmentioned:

  • Pure PoW coin, can be seen as a waste of electricity.
  • Privacy of transaction has been also viewed with criticism.
  • Community-based coins can be seen as not flexible.

Authored by: @jedigeiss






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I have been looking to get in few cryptos for long term. Well bitcoinZ seems good option for holding long as the price is also quite low. It would be good to get few of these added to my bag. Let's see what 2018 brings for it.

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Bitcoinz is a nice coin but it has competitors in the market monero, zcash, komodo , zcoin, nev coin, zencash, verge, dash. PIVX is another private coin in market.

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yeah i have written similar articles with insights about most of these coins here on adsactly ;)
Kind regards
Jan

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According to the think tanks related to the net currency, the bitcoin is going to be doubled at the end of the current year, so do this!

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Ok, but if it doesn't trade on a lot of exchanges, do you know HOW you're going to get your hands on some?

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yes you are absolutely right @cryptokraze,few altcoins are for long term and after reading this post and your comment I will also buy Bitcoinz.thanks for your thoughts.All the best for future.

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This coin will be another pump and dump. Too many other validated coins to compete with.

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please read my posts from below before you consider investing in this coin, guys!

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I'm a new user and trying to learn more about cryptos :)

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in life we ​​all learn continually 😘😘😘

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Buy and hold the coins that are doing well and already popular. Some of the newer coins may not go anywhere.

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Wow. Like in uganda africa, few peple really know about cryptocurrencies.

This informtion is going to make me teach ugandans on the importance of steemit.

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thanks for sharing this information

Well, I don't see this coin in any way lower quality from other coins with Bitcoin name on them... With no pre-mined, no ICO and no dev taxes it is showing fairness and transparency... They decided to go with POW, and even this may seem like something not going in their favor, at the end it could become an advantage for them. When ETH leaves POW, all that miners need to look in some other direction, so why BitcoinZ would not be their choice? Limited supply, Website looks decent, privacy and the main factor - Market Cap! This coin is at $11M at this moment, and I don't mean that it needs to go $28B like Bitcoin Cash, but $100M could be realistic in some midterm...

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I was just chatting on Slack with one of BitcoinZ team members regarding their identity... He gave me his name and link to his YT channel and for all of you interested in this project details you can join slack and ask them...

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He gave u his name and yt channel? Are you kididng me? Tell him to give you his linkedin, his real identity and personal information so people will actually look up for after he ll run out with this possible "scam scheme"

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possible sure, a lot of coins feature the possibility of being scam.
like said, satoshi is also not known and wants to keep his privacy. Thats no reason to cry out "scam", but for sure it is a reason to look two times.
Kind regards
Jan

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You can see on my blog that I was writing about several ICO scams and warning people about risks... In my opinion, this is not a case of scam... Why? Well, the first thing is that if they wanted to take the money they would have an ICO like every decent scam project does :) By posting this YT channel I was just trying to tell you that in just a few minutes you can make contact with team members... If you are so interested in this project so much spend some time and do deeper investigation, you can them write about it and I will upvote you :)

ATTENTION❗❗

Guys, try to stay away from this coin as I really think there's something fishy with it. I tried to find information about the team but I couldn't find any, when I try to find information on google about the team there's no relevant about members informations like name,photos or linkedins.

Most of coins who are taking this path of hiding their members name and personal information tend to end as scams, so be careful. As I said earlier there should be a really good reason why it is not listed on any known exchange yet.

If I am wrong please tell me, I might be odd with this but all I want is to research more about the project before investing. Thank you!

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Thank you for your due dilligence! Tha author of the article will investigate on this!

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@adsactly I’ve been trying to join the invite link for discord on your page, it keeps saying it’s expired
Im just curios could they be a problem somewhere? I’d like to be a part of the community

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Thanks for the warning.

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Check my answer UP UP UP :)

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Cryptocurrencies are digital, so there is nothing scam about it, it's only the traders or operators with greedy attitude that makes it look like scam.

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I'm in contact of devs. This is a decentralized community. We have regular live video sessions. Go to https://info.btcz.rocks/ and evaluate yourself. There is nothing fishy about this project. Everything is transparent.

I agree that main website has to be more professional. We're working on it.

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Good thinking,
but do you know who Satoshi Nakamoto is? Well, i don't.
Nevertheless, this whole market that we are talking about is based upon his idea.
BTCZ has been brought up by an anonymous Developer, just like the original Bitcoin idea.
This does not necessarily make any of this scam.
On the other hand side, i absolutely approve thinking and investigating for yourself before making an investment!
Kind regards
jan

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check this website as well (we are a growing community):
https://bitcoinzguiding.ovh/team.html

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Stop trying to share this scam please, the devs of the site are unknown and just copied the bitcoin source code most probably and now they're trying to pump the price so they can sell their premined coins for actual real value :/

The Circulating Supply is just to low and the Volume in the last 24h is close to none, wich makes me think about that marketcap (not very correct) considering the discrepancy...

Btw keep doing this posts because I love when you introduce me to a new coin!

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Couldn't really see the picture (volume), but a relevant comment.

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please read my posts from below before you consider investing in this coin!

I don't know what to say about these new crypto coins. You should really went in depth with the article talking about the team, the history of the members and their roadmap.

There might be some reasons of why they are not yet listed on exchanges, but that's another story :). Good job for writing this post though, I know how hard it is and how time consuming it is to deliver valuable information.

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my dear @octavianfeodot, iam investing a lot of time into those articles, including background checks.
But, we are talking here of a "private" coin and of a decentralized structure.
I talked with devs over slack and iam in the telegram group and in their discord. Nevertheless nobody can give you 100% prove that this is scam or no scam. This is completely normal with such small coins.
Kind regards
Jan

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Monero, Dash are "private" coins yet they have real, personal information about the team members. I don't know what to say to be honest.

Yes nobody can say either is a scam or not but people should look up for it. If they buy into the coin and then the "founders" dump the coin it will go bad ;)

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monero and dash are huge in comparison to this super new coin.
And i am not hiding anything, like said this has been brought up by an anonymous developer. It is in the very first sentences of my post.
Did you ever buy into a scam or why are you playing devils advocate ?

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Yes of course as anyone else on the planet. You'd be hypocrite to say that you never bought into a scam, my point with these posts is to open people eyes and let them see the other perspective as well.

Most of them get overly hyped only cause they see "bitcoin" included in the coin's name + the fact that is really cheap and they might buy into some scams. Exchange sites scams, crypto coin scam as a whole.

Yes big or not big you can't come with the argument that's a private coin and that's why team members are anonymous. The only one I'd trust with anonymous developer will be bitcoin. I'm not trying to play devils advocate as I said before, I just want people to see the bigger picture ;)

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Well, actually I never bought into any scam up to now :) and no iam no hypocrite.
So, iam saying since the start that you never know. The same thing you are saying as well. And I did not say that the anonymity is only because we are talking about a private coin here but it may be a reason.
I think we made clear now that this is possibly a scam, which is also true for at least half the cryptocoin market.
See you around :)
Kind regards
Jan

You wrongly quoted bitcoin as having a maximum number of coins of 21 billion, the actual maximum number of bitcoins is 21 million coins.

I just confirmed this coin's maximum supply is 21 billion which is way higher than the maximum supply of bitcoin at 21 million, I was going to say btcz is a definite buy based on the limited supply.

Does anyone else's head spin with all of these coins? Is it a better idea to own tons of coins you don't know much about, or own a few that you're well informed on? Asking for a friend. 🤔

How is this better than the soon to be coming fork Bitcoin Private?
Hodlers of zclassic and bitcoin get a 1:1 ratio Bitcoin Private

So if you have 55 zclassic and 4 bitcoins you get 59 bitcoin privates...

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good question!

Cryptocoins with private features.

If it's POW and using ASIC-resistance, how hard is it to mine with a normal PC?

How is it better than PIVX?

typo: assuming you meant 21 MILLION coin, not billion

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Well why should it be better than PIVX, i think 2 or 3 weeks ago i wrote about PIVX :)
its not very hard to mine with a PC, but you need a decent graphic card, since it uses thee Equihash algo.
I meant 21 000 000 000 Coins :)
Kind regards
Jan

A few of my friend and I had a long discussion last Sunday on Crypto Coins. As everyone wanted to buy so i think this a Really great option about which i Really did not know that much like this way,

BitcoinZ is a pure PoW coin using the Equihash algorithm (like ZCash, Hush...) for improved resistance against ASIC computation. The developers are also ready to switch this to another algorithm if ASICs for Equihash would be on the market.
Maximum number of coins is 21 Billion just like Bitcoin has, Block Time is 2.5 Minutes with 2MB Blocks

This thing suggests to buy and HODL upon #BitcoinZ. Thank you so very much for the worth reading article and yes it will remove the confusion of many users including myself.

You're contributing brilliantly at your end @jedigeiss and a big thanks to @adsactly as well

Stay Blessed, Steem On!

I don't see any reason for its existence. We already have so many privacy coins only a few or perhaps just one will survive. Survival of the toughest. Being original and innovative is the key.

On the private coins, I'm all about monero!

@adsactly thanks to share your thoughts about BitcoinZ,I really don't know about this altcoin but after reading your post I came to know many amazing advantages of BitcoinZ,its algorithm looks interesting and as I am new in trading I have not much experience so I am thankful to you that you have explained it very well.And yes BitcoinZ is not listed in Bittrex and Poloniex exchanges which are world's top exchanges but I hope very soon it will be listed.upvoted and resteemed.great information about cryptocurrency.

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Actually, it might be Binance that's the biggest now? (a lot has changed in the past few months)
Bittrex is ONE of the broadest exchanges tho.

The disadvantages are too much.thanks for sharing. @adsactly

Really good

But what about the steem? Why it still remain unfamiliar?

Interesting post, I had not heard of BitcoinZ but seems like it is similar to Bitcoin Cash in how it is an updated version of Bitcoin in how its transaction times is shorter than the 10 minutes seen with Bitcoin.

Thanks for sharing information about cryptocurrency...

The value of bitcoin today is equal to 11,275,60

Knowing the new ''coin'' is the beginning of wisdom, joining is the widom itself...thanks @adsactly for the update

nice post good information

All these expansion in cryptocurrency scope makes me fear for those who know nothing about cryptocurrency till now. The little I know, I must make the best of it.

you talk about a useful topic....your writing skill was very different....i like it...Lot of thanks for Sharing this informative and valuable post....best of luck brother....

I’m wondering if private coins might be the future. Maybe not this coin nor the coins now, but an eventual move towards these ideals. governments now are already cracking down (or China and Korea) and i feel like people will try and move towards annominity with their finances. Crypto currencies are here to stay whether we choose to accept it or not though.

Nice Information, can't wait to start saving up my BitcoinZ

Always wonderful thanks. If it was possible to help vote for my publications because my account is new

yaah BitcoinZ is one of the smaller players on the private coins' market and it also support linux that great to see!
thanks adsactly for your review on bitcoinz!

Thanks for Bitcoin update always.

Thanks for the sharing information about cryptocurrency. Keep it up. Have a nice day.

Tnx man for this good blog
It was nice to read it

@adsactly I am not very vested with the knowledge of Cryptocurrency. That very soon will be absurd to be heard from anyone. Meanwhile Cryptocurrency should be added to the wonders of the world. For BitcoinZ how do we trust a coin that was developed by an unknown developer? Could that be the brain behind it being a "private coin"? and transaction being carried out completely anonymously? I am just thinking out.
I will still need to keep following on Cryptos to fully grasps. Keep sharing @adsactly

I'll keep learning. Thanks,
I am @desmonddesk
@adsactly #1 Fan.

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I think the "unknown developer" thing is really fishy !

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Yea, same like... hmmmmm Bitcon?

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you can't take bitcoin as an example which was the first coin ever made!

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Check my comment UP UP UP :)

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you are repeating yourself a bit ;) and yes for sure we can take bitcoin as an example ;)

I am so happy to join steemit because here people share a very informative post and @adsactly is one of the best.so thanks for such a great informative post with us

Waww nice post
Ivery very fond about cripto,
Thank you for sharing

Right now market going down little.When everything down that's perfect time for crypto shopping💰💰💸💸

Wow. Thank you for the post. Resteemed. I am actually wwondering where to start from in order to invest in cryptocurrency. You have given and great insight and by the looks of it, bitcoin seems like a good idea. Thanks bro

I have a question and please reply
What leads to the decline or rise of Cryptocurrency ?

Execellent

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When you repeat the same comment on multiple post you sound like a bot! If it walks like a bot, squawks like a bot, it may be flagged for being a bot!

Your Reputation Could be a Tasty Snack with the Wrong Comment!

Bitcoin knowledge is really a big deal nowadays

I'm glad that you explained this topic! I think I have to check out your blog :D.... just joined a few seconds ago :)

In my opinion in nowdays u can invest in lot of coins , in my opinion now to every coin can happen same as bitcoin .

I am new in Crypto, but sometimes I think wether or not we need all these different but yet simillar coins?

I have heard a lot about bit coins in the past. I think it’s something I could invest in. But I think I might need a little help on how to go about it.

Thanx for such an informative post keep it up.

Congratulations @adsactly, this post is the forth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 42 and the total pending payments to posts in these categories was $3923.28. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

Monero and sumokoin are the kings of privacy coins. Check them out and thank me later :)

Always wonderful thanks. If it was possible to vote for my publications if you like

I was looking for something to invest with in, here i found one.
Thanks for sharing.

Dear Fellows keep following me at https://steemit.com/@leoyaqoot to have Important knowledge about Cryptocurrencies like bitcoin, ethereum ripple and also about life tips.

I resteemited this post to show that you did a good job

I resteem this post to show that you did a good job

This is useful information. However, I don't fully grasp the value proposition. Part of what makes a great market is knowing that there is a buyer anytime you're selling (and vice versa). If trading volume is low and market cap is low, it seems like there is liquidity risk here. Plus, even the name is confusing to me - the casual observer would probably conclude that it's "just like Bitcoin" and buy it. Sort of like if a company starting selling shoes and called itself "NikeZ" -- you would assume that it's some cool new marketing promotion from Nike.

BitconZ will be a good option in this 2018. It's good to take advantage of the low price. We'll see what happens.

Çok mantıklı

Follow me guys i will follow back

The big problem is a lot of these private coins will not have a bright future because they can only go as far as being a currency from peer to peer exclusively. They will never be used for payment because they are so private and they will not be supported by government unfortunately.

Teşekkürler güzel yazı güzel blog...

Thanks look my blog and follow :)

Great write up

I personally think there is too many privacy coins that I'm going to pick the one who has the highest probability for "network effect" (metcalfe's law). I believe it will be among ETN. Just my opinion. ;)

Guys go for Bitcoin Private this Fork will be huge

hmmm..nice...

I just starting earn money from bitcoin. Because I see someone get rich from BTC

I've never seen(known) bitcoinZ before reading this post. thanks. Usually I wright about cryptocurrencies and ICO. I want to share the information of them frequently : ) Have a nice day.

Great review and a very informative post.

Is tradsatoshi a good exchange to buy it?

Muy buen post amigo @adsactly estoy muy pendiente de tu blog saludos y éxitos.

I am very excited about the prospect of using cryptocurrency, not just as a money equivalent, but using it as a way to earn something as a result of doing some type of work.

Coin has a really good mobile wallet, A easy to use miner. It's a good looking project it has accomplished more than most projects. Plus its just getting started. Currently one of the most profitable coins to mine a real winner all around.

Sorry, bitcoin private is better, check my post about it !

I don't recognize what to say in regards to these new crypto coins. You should ran top to bottom with the article discussing the group, the historical backdrop of the individuals and their guide.

There may be a few reasons of why they are not yet recorded on trades, but rather that is another story :). Great job for composing this post however, I know how hard it is and how tedious it is to convey significant

Even though this dip is apparently hard, Now is the time for us all to be doing our own research. We are the ones who are giving our money to these crypto companies, Which means we can select how our future looks! what an exciting time to be alive! Some of us are in it for the money (buy now!), some of us are in it for the love of the technology and some would say they're in it for both. Me too! Great article. Thank you .

That is very useful for us..thanks for your information

nice post good 👍👍

When the everything bubble that is the current US economy comes crashing down, cryptos will rise from the burning ashes

An electronic money made in 2009 by Satoshi Nakamoto. The name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoins of a decentralized currency. Unlike most currencies, bitcoin does not depend on trusting major publishers. Bitcoin uses a database that is distributed and spreads to the nodes of a P2P network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, and never be done more from one time.The design of Bitcoin allows for anonymous ownership and transfer of wealth. Bitcoin - bitcoin can be stored on a personal computer in a wallet file format or stored by a third party wallet service, and apart from all that bitcoin can be sent over the internet to anyone with a Bitcoin address. The peer-to-peer bitcoin topology and the lack of a single administration make it impossible for any governmental authority to manipulate the value of bitcoin - bitcoin or cause inflation by producing more bitcoin. Bitcoin is one of the first implementations of the so-called cryptocurrency, first described by Wei Dai in 1998 in the cypherpunks mailing list.

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Good information but sorry to say its old information. We are hungry to know update info

Vote back ya

I am looking for some good blog sites for studying. I was searching over search engines and found your blog site. Well i like your high quality blog site design plus your posting abilities. Keep doing it.

The main idea is to collect as many bitcoins possible as in the near future the block reward is expected to be halved. While steam might be a good platform there are many others ways to stay well ahead in the crypto race . I shall be covering all crypocurunncices and the easiest ways to buy them. Thank you for your support. Have a blessed day friends!

I heard that BTC will come on same position in sometime because a well-known company bought BTC yesterday.

Where to buy this coin?

seems like all exchanges you can buy it are scam?!

would be interesting to hear why the branding around Bitcoin, makes no sense to me..

Just roll the dice on this one

Congratulations @adsactly!
Your post was mentioned in the hit parade in the following category:

  • Pending payout - Ranked 5 with $ 497,81

Thanks for sharing this information.

now a days it is very populer currency

thanks, your post! have a nice day.

Aelf Coin giving away coins for doing small tasks on their site liking tweets and inviting people. Seems like a decent ICO I bought couple hundred of them on binance today.
https://candy.aelf.io/account/register?invitationCode=0F0QaM9Ce195

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Thank you very much for the data, I'll check to see how it goes. ICOs must be seized, since they can generate good income in the future.

Privacy coins will be regulated out of existence. They allow criminal activity and tax evasion. BitCoin is private enough. We need to get governments regulating crypto to stabilise it "legally" so they don't try to wipe it all out. One thing they won't touch is privacy coins. I know cash is private but only semi private. Cash is more like BitCoin it is private until some people with a lot of authority go digging then they know it all. So that won't fly. I took my investments out of privacy coins even though I absolutely love the monero project and the idea behind these coins. But sadly I can't see them being allowed. Yes you could use them outside the law easily but I think that would end up being too risky as the majority will stick to BitCoin. And yes if you are clever you can obscure BitCoin transactions. And that is the position I take on privacy coins becasue they can't say BitCoin is a privacy token in the same way they can't say the BitTorrent protocol is a piracy protocol. So what do we need privacy coins for then? We don't.

I think the Bitcoin - ZClassic Hardfork, where the Bitcoin Private Coin (BTCP) is created is even more intresting. ZClassic is expensive and you can push it off after the snapshot at a high price. What do you think?

I am still a beginner but will try to follow this trade journey

Hi,
it did not really come out to me what the real usp really is.