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Author Topic: Bitcoin Private  (Read 425 times)

topps999

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Bitcoin Private
« on: May 02, 2018, 05:22:46 PM »
The way modern society is going with the 'big brother' system in place... it would be silly of us to be so naive in thinking we are safe.
Being Safe and being Secure are 2 different things.... You can be Secure in a lot of places... walking down the street, in your work building... even feel secure in your own country. but being Safe is a feeling you get when you feel at ease. Generally we feel at ease within our own home, and within our home we will have a certain room or a certain spot where we feel most safe.
Being safe in modern society is an important aspect, with Snowdens revelations regarding the extent of spying within the American government and CIA, who can blame anybody for thinking they were not being watched before this large leak.

The leak of such information opened everybody's eyes (people who understand what he has said anyways), the CIA allowed mass surveillance on their home turf, this begs the questions on just how deep the CIA and other spy agency's go within the public community to keep us 'Secure'.. This is the branding they use to allow such laws to pass governance, if you check back (especially in the UK) history which relates to terrorism, every major terrorist attack allowed for new surveillance laws to pass giving the public less and less privacy / freedom.

Apps and websites that allow such privacy are sought as 'terrorist' apps and are bad mouthed... What-apps came under first for this, so did telegram amongst many.

So how does this relate to cryptocurrencys, cryptocurrencys allow data to travel with a block-chain and keeps it somewhat secure. it also allows people to hold money out side of current financial institutes which allow tracking of your funds and will happily give this information to the government.. i dont know about any of you guys but myself i am very private and i have nothing to hide but i wouldn't even tell my friends how much money i have so to allow such agency's and governments to have free rein and access to my money makes me extremely wary.

Cryptocurrencys are good in this aspect however they do then allow for their own flaws, everybody knows by now that bitcoin can be tracked should it be needed to... Everybody also knows that other privacy coins out there not implementing ZK-Snarks can Also be tracked should enough effort be put in.. its been reported that analysts have tracked Monero Coins Through IP's left on the block-chain making it somewhat... Not Private.

This is why i believe Bitcoin Private will succeed within this sector promoting the best currently available Privacy technology and allowing for implementation of new privacy technology in the future(  zk -Starks)

It has a standard 2MB Block every 2.5 minutes, it has no founders fees (Like Zcash), it didn't implement an ICO as such, but a 'donation pool' for its miners and has confirmed it will be updating all the BTC Updates from the last 3 years, again which Zcash has not done. It has a massive 100 contributing and active members as well as a 1000+ Ambassador Program which is worldwide with meet ups already going ahead! and we have a 85k+ Community following across several platforms.

Come join the Revolution - The Privacy Revolution. We are BTCP #BTCP

Pegasus

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Cryptocurrency exchange HitBTC appealed to the specificity of its cryptography in an ongoing dispute with the team behind altcoin Bitcoin Private (BTCP). The post was published on HitBTC’s blog on Tuesday, March 26.

The dispute involves HitBTC’s delisting of the altcoin, whose team then accused the exchange of fraud.

HitBTC, currently ranked by CoinMarketCap as the world’s 15th largest exchange by adjusted daily trade volume, claims that the BTCP team had offered an “unsuitable” solution for moving its funds prior to a scheduled coinburn.

In the recent blog post — titled “Explanation of the situation with BTCP” — the exchange also states that the coin’s developers did not provide any code or documentation for specific transaction cryptography used in their blockchain. Moreover, HitBTC accuses BTCP of creating custodial risk and ecosystem instability.

Earlier this month — the day BTCP published its letter accusing the exchange of fraudulent activities — HitBTC revealed that BTCP had burnt a part of the funds still remaining in the exchange’s custody, on behalf of users. The exchange stated that it then compensated all resulting losses to its users.

In this week’s statement, the exchange claims that BTCP is still available for withdrawal from the platform and that its customers did not sustain any losses as a result of the coinburn.

The blog post does not, however, provide concrete responses to the previous allegations from the BTCP team, which accused HitBTC of an extortion attempt.

As Cointelegraph previously explained, BTCP was created in a fork from ZClassic (ZCL) and Bitcoin (BTC), with a notice of a future coinburn in its whitepaper. The event scheduled for mid-February 2019 was meant to delete all the coins that hadn’t been claimed or moved since the fork.

However, prior to the coinburn, HitBTC reportedly contacted BTCP requesting assistance to protect its users’ funds in a series of emails. The exchange further asked for 58,920 BTCP (about $17,600) to be given as compensation after the coinburn, due to expected losses.

BTCP reportedly insisted that addresses created after the fork would not be affected, therefore there would be no loss of funds. The altcoin’s team instead alleged that HitBTC secretly held 58,920 BTCP in a BTCP Segwit wallet and that the concerns over the coinburn were related to the exchange’s personal funds.

When the coinburn actually took place, according to the altcoin’s team, HitBTC threatened to pull BTCP support if the coin’s development team did not compensate the BTCP sum. In March, the coin was delisted from the exchange.

In early 2019, Proof of Keys’ organizer Trace Mayer had publicly suggested that HitBTC may be deliberately freezing withdrawals in the wake of the campaign. Mayer’s Proof of Keys event advocates a mass withdrawing of all funds from exchanges and other centralized third parties.

However, HitBTC dismissed the allegations, a company representative telling Cointelegraph: “These temporary, safety-related withdrawal freezings are a direct consequence of our international KYC and AML measures. These rules exist and apply to us and everybody, 24 hours a day, 365 days of the year.”

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