PR: Bitcoin Holders, Please Claim Your BCP and BCPC, as They Will Be on Exchanges Soon

Claim Your Bitcoin Parallel

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The mainchain energy coin BCP and the sidechain clearance coin BCPC belongs to Bitcoin’s Parallel Ecosystem. All Bitcoin holders of BTC chain at the block height 507,000 on January 30th 2018 have the privilege to claim their BCP and BCPC coins for free from February 12th 2018.

The claiming rate started from 1 BCP and 1,000 BCPC per BTC and would decrease afterwards day by day. 24 hours after 9:00:00 GMT February 12, 2018, BCP and BCPC has entered into a phase that is reduced by 2% every 24 hours. Then after being decreased to 50%, the distribution rate will enter into the second phase, decreasing by 1% every week until it finally becomes zero. Therefore, Bitcoin holders who have not yet claim the coins please visit our official website to apply for coin claim as soon as possible, as the amount of BCP and BCPC claimable will decrease every day.

If you have difficulties in the claiming process with your BTC wallet, please pay close attention to our official social media and official website, we will issue Guidelines for Bitcoin holders to claim BCP and BCPC.

In addition, for those who have successfully received BCP & BCPC or have joined our mining groups, please keep your wallet safe. The corresponding BCPC applications will be developed on the BCP main chain around June to July 2018. BCP and BCPC is scheduled to go to exchanges in the near future and the applications will be released correspondingly.

For further information, please visit our official website: www.bitcoinparallel.org

Bitcoin Parallel Foundation

Contact Email Address
foundation@bitcoinparallel.org
Supporting Link
www.bitcoinparallel.org

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Bitcoin Holders, Please Claim Your BCP and BCPC, as They Will Be on Exchanges Soon appeared first on Bitcoin News.

United Bitcoin May Be the Most Controversial Fork to Date

United Bitcoin Maybe the Most Controversial Fork to Date

Back on December 12 the well-known developer Jeff Garzik launched a Bitcoin Core (BTC) based fork called United Bitcoin (UBTC) after Segwit2x failed. At block height 498,777 the snapshot took place, and the UBTC network began just like the rest of the forks in existence, but claiming the tokens is far more complicated than one would think.

Also read: The 65 Percent Price Dip Has Made ‘Bitcoin Whales’ A lot More BTC

The Promises of United Bitcoin

United Bitcoin Maybe the Most Controversial Fork to DateA few months ago we reported on the UBTC project created by Jeff Garzik, his partner at the blockchain company, Bloq, chairman Matthew Roszak, and Bitbank Group’s Songxiu Hua. The team says it plans to create a credit currency system pegged against various fiat currencies alongside a native smart contract feature. The entire network is modeled after the bitcoin core blockchain prior to December 12, and all active wallet holders are able to receive UBTC at a 1:1 rate. The catch is inactive wallets will go towards the UB Foundation to support innovative blockchain development.

Over the past few weeks, the UBTC team have made some videos detailing their project’s goals to be serious cryptocurrency contender. One particular documentary shows Garzik describing why he thinks UBTC can be a digital asset that engages and unites with the entire cryptocurrency ecosystem. “If I could start with a clean slate what technologies would I include?” Garzik asks an audience during the video. Matthew Roszak says that United Bitcoin will encompass three really important pieces technology, community, and tokenomics by relying on cross-industry innovation.

United Bitcoin: Jeff Garzik's Fork Represents a 'Clean Slate'

One Out of Only Two Miners Controls 70% of the Network’s Hashrate

United Bitcoin: Jeff Garzik's Fork Represents a 'Clean Slate'So far the network has minimal infrastructure and community support. At the time of publication, there are only two miners who are processing UBTC blocks; an unknown entity and the mining pool BW.com. The mining pool BW.com has more than 70 percent of the network’s hashrate. The network’s total hashrate is only 50,811.47 TH/s and block intervals can range from an hour and a half, to occasional sporadic 20-40 minute blocks. The network has an extremely low amount of users as there are only 20 pending transactions right now. Blocks are averaging roughly 20-100 transactions, and most block sizes are well below 1MB even though UBTC has the capacity for 8MB blocks.

UBTC has its own full node wallet client for Linux, Windows, and Macintosh operating systems and the source code is available for review. According to the distribution repository, there will also be a lightweight client release soon. There are three other wallets that support the UBTC protocol. As far as exchanges most of them are based in Asia, and a great majority of them are unknown and exchange very little trade volume besides the exchange Okex. At the moment, according to Coinmarketcap statistics, one UBTC is worth $82 USD.

Required Identity Verification and Claiming Inactive Addresses: United Bitcoin Is the Most Controversial Fork to Date

The most controversial part of the project is the opt-in airdrop feature which basically means a bitcoin holder must give up some form of identification to obtain UBTC. In order to even get started with UBTC, a user must supply a valid email address and a mobile phone number. After this process, the registrant has to have a valid bitcoin address as well to receive the 1:1 distribution. Another contentious issue with UBTC is the Foundation’s claiming of “unused addresses” which means after a period of time inactive addresses will be used for future development. At the moment the team has added a “grace period” which has extended the timeframe so bitcoin holders can claim their UBTC.

Because of the ‘KYC-like’ requirements and the fact that the development team will claim Satoshi Nakamoto’s and the inactive addresses of many whales, makes UBTC one of the most vexed bitcoin forks to date. These two tendentious issues plus the fact that the network has very little infrastructure may have a hard time gaining the crypto-community it hopes to progress.

What do you think about the UBTC project? Would you claim these airdrop tokens knowing you have to tie your identity to the platform? What do you think about the development team claiming inactive addresses? Let us know what you think about this project in the comments below.


Images via Pixabay, United Bitcoin archives, and website.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a forum. And a casino, a mining pool, and real-time price statistics.

The post United Bitcoin May Be the Most Controversial Fork to Date appeared first on Bitcoin News.

Bitcoin Private Fork Aiming to Make Bitcoin Anonymous

Bitcoin Private Fork Aiming to Make Bitcoin Anonymous

Bitcoin’s latest fork is just weeks away and this one’s a little different from the rest. Rather than simply tinkering with Segwit or adjusting block sizes, Bitcoin private (BTCP) is adding zk-Snarks. The privacy enhancing feature is best known for its use in the Z family of coins including zcash, zclassic, and zencash. That’s not surprising given that the fork is being instigated by Rhett Creighton, who is simultaneously forking bitcoin and zclassic on February 28 to create BTCP which will then be available to holders of both coins.

Also read: U.S. Lawmaker Wants Ethics Committee to Form Bitcoin Disclosure Guidelines

The Quest to Make Bitcoin Private Again

Bitcoin Private Fork Aiming to Make Bitcoin AnonymousLike all forks, bitcoin private is not without its controversies. Bitcoin’s underlying code hasn’t changed greatly over the years, but the ability of law enforcement, the IRS, and other busybodies to scrutinize blockchain activity has. Whereas once bitcoin could be used on the deep web and elsewhere with a reasonable assumption of privacy, doing so today is fraught with risks. The rise of privacy coins such as monero is a direct response to this gradual erosion of privacy.

On February 28, a snapshot of the zclassic and bitcoin blockchains will be taken and holders of each cryptocurrency will be eligible for bitcoin private, distributed at a 1:1 ratio, once the BTCP mainnet launches a couple of days later. A total of 20 million coins will be created by combining the circulating supply of BTC and ZCL. When the fork was announced late last year, it caused the prize of zclassic to shoot up from around $4 on December 22 to its current price of around $97. For anyone interested in claiming their maximum allocation of bitcoin private, it makes sense to load up on zclassic given that even at $100 it is orders of magnitude cheaper than bitcoin. As the date of the hard fork looms closer, zclassic is likely to rise further still.

Bitcoin Private Is the Fork Aiming to Make Bitcoin Anonymous Again

Smart Thinking or Cynical Ploy?

Unlike most bitcoin forks, BTCP seems to have been well thought out. It has a proper development team and the code is in the process of undergoing extensive testing. One of the reasons why the fork date was only announced recently was to allow time for BTCP wallets to be thoroughly tested. While it’s too early to assert that the fork will go without incident, the signs look promising. Many of the recent bitcoin forks, in comparison, have occurred with scant Github activity and buggy wallets. The BTCP team have been eager to avoid a repeat of the sort of problems that beset forks such as bitcoin gold.

Bitcoin Private Is the Fork Aiming to Make Bitcoin Anonymous Again
Rhett Creighton

The biggest question that surrounds the launch of bitcoin private is why? Why go to all this bother to implement a privacy technology that already exists in zclassic and its family of coins? The second question surrounds what happens to zclassic after the fork. Rhett Creighton has declared that ZCL’s development will continue to be supported, but there seems little purpose for its existence following the launch of BTCP. Zclassic is widely expected to dump in the aftermath of the fork. Finally, there’s the question of which exchanges will support BTCP.

As present, Bittrex and Cryptopia are the only major exchanges where zclassic can be traded. It’s assumed that these platforms will distribute BTCP, but there’s no confirmation yet. Coinomi wallet has at least confirmed it will support the fork, and the BTCP team have applied for listing on Binance. ZCL holders also have the option of storing their coins in the Electrum wallet prior to the fork. If nothing else, it will be interesting to see how many bitcoin holders bother to claim their BTCP. The results should give an indication, no matter how imprecise, of the extent to which bitcoiners value their privacy. Then again, should BTCP attain any sort of market value, many will claim their free allocation simply to cash out.

Will you be bothering to claim your bitcoin private? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitcoin Private and Coincodex.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Bitcoin Private Fork Aiming to Make Bitcoin Anonymous appeared first on Bitcoin News.