Bitcoin Private (BTCP) Surges Past ZCash — Did You Claim Yours?

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It has been a rather enjoyable last few weeks in the cryptocurrency market, with Bitcoin and virtually every altcoin enjoying rather solid turnarounds — signaling increased confidence in what had been an otherwise bearish marketplace.

They are truly worthy of your investment dollars. The analysts at Weiss Cryptocurrency Ratings are bullish on every altcoin in the market, of course. Explains Weiss Bitcoinistbitcoin private btcp surges past zcashdid you claim yours Ratings:.

First, he grabs the innovative genius from ZCash by copying their code. Second, he with his team cooks up a rationale for making a minor change: And he bashes the implied centralization.

To cash in on the innovations made by the ZCash team and disguise the fact that his work is just a cheap imitation.

So the serial coin imitator makes a new announcement: He and his team are forking ZClassic itself into another coin named Bitcoin Private.

Now, Bitcoin Private is truly identical to the original ZCash, except for meaningless differences. The only noteworthy change is the branding. Writes the rating agency:. After misleading investors by creating Bitcoin Private, building some hype around it, and making some big money in the process, the serial coin imitator is not giving up.

Focus your investment dollars on the coins at the top of our list, meriting a grade of B- or better. Do you agree that such forks should be avoided at all costs? Let us know in the comments below!

Stick to the Winners It has been a rather enjoyable last few weeks in the cryptocurrency market, with Bitcoin and virtually every altcoin enjoying rather solid turnarounds — signaling increased confidence in what had been an otherwise bearish marketplace. No Time for Losers The analysts at Weiss Cryptocurrency Ratings are bullish on every altcoin in the market, of course. Explains Weiss Cryptocurrency Ratings: Writes the rating agency: Weiss sums up their analysis with three self-promoting rules, which some may consider wise: Images courtesy of iStock and Bitcoinist archives.

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The New-York based Gemini cryptocurrency exchange just announced the addition of 3 new cryptocurrencies to their trading lineup. The most surprising addition being ZCash, which was not expected by anybody in the community. The week of the Consensus conference has always been a week of news, innovation, and announcements from major players in the cryptocurrency and blockchain industry.

The most surprising of these currencies is ZCash, however, as the additions of Litecoin and Bitcoin Cash were expected by the community for a considerable amount of time. Winklevoss brothers are adding privacy-focused Zcash to their Gemini cryptocurrency exchange https: Gemini will also continue to offer block trading, which they announced earlier last month, along with their daily auction of cryptocurrencies and will adapt these things with the arrival of the new cryptocurrency on the platform.

ZCash provides 2 different types of addresses on the platform, shielded and unshielded addresses. The latter showing the balance of the wallet and transaction balances going in and out. However, shielded addresses provide a high level of privacy for users, as their balance and transaction balances are made private on the blockchain.

Despite this, withdrawing ZCash to shielded addresses will not be allowed for ZCash traders on Gemini at this time, though this seems to undermine the entire point of using a privacy-focused cryptocurrency.

This issue of this loss of privacy has probably something to do with the regulatory laws and oversight, which try to stop money laundering methods. However, the blog did mention that they may accept withdrawals to shielded addresses at a later date.

In the same announcement, the NYDFS also announced that they had also fully approved the addition of Litecoin and Bitcoin Cash, the 6th and 4th largest cryptos by market cap, respectively. However, the full integrations of these other cryptocurrencies onto the exchange have not been announced as of yet. Do you think that the addition of these coins will be a successful venture for the Gemini Exchange?

Why or why not? Please let us know in the comments below. Technology , Development , Crypto market. Crypto market , Regulation. Development , Crypto market. Privacy Focused, But On a Regulated Exchange The week of the Consensus conference has always been a week of news, innovation, and announcements from major players in the cryptocurrency and blockchain industry.

Finrazor is not a mere news aggregator — we create instruments for investors and traders. Subscribe to our newsletter and be the first to learn about 'em. Subscribe to our news. Finrazor provides selected news and data to help investors, traders and cryptoenthusiasts make informed financial decisions and stay up-to-date with the latest events in the market.