If you follow me you know that I've never really liked ZCL. I made a lot on this coin but always saw it as a marketing scam. Now they've published their path forward and it created a massive sell-off. With the H&S forming this was the absolute worst time to announce this. Wait for a dead cat bounce then get out of this marketing scam.
Made my money during December and January but jeez those investors during January's moon must be bleeding on the floor now.
alexplq
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terrible scam
zman0225
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Just out of curiosity, what evidence is there that it's a scam? I've been testing for them -- everything is coming along nicely.
Tilt101
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@zman0225, Correct me if I'm wrong. I'm serious, if what I write is incorrect tell me where.
ZCL is an offshoot of ZCash. Neither of those coins were part of Bitcoin or related to it. If I remember correctly, it was a dead coin the team had left. A new team came in and took it over. This team decided to rebrand it Bitcoin Private. Then they're using an app separate from BTC to give this new coin to everyone with Bitcoin.
Its not a direct split off the chain. There's no chance of it having some chain confusion the way there were concerns with Segwit because it's not related to Bitcoin. They took an unrelated coin and called it "Bitcoin Private" and are just following the chain to give a coin to everyone that has bitcoin.
That's like opening a hamburger restaurant named "Starbuck's Hamburgers" or a clothing store named "Sak's 5th Avenue Private Clothing Store".
The coin can be great.
The tech and wallets and all can be amazing.
But they 100x off the fact they rebranded themselves "Bitcoin"
zman0225
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@Cryptolink, the same team came back after realizing the need for a popularized privacy coin. Sure they've already 30x already on the news of it alone. Youre completely right about the branding. It's definitely not what satoshi intended. However, if working diligently almost non-stop and rebranding it as bitcoin private to popularize privacy is a scam, then I don't know what isn't anymore. Many a forks will 100x off the fact that they rebranded themselves "Bitcoin." This "app" is not really separate from BTC, it's all core BTC code. Just with a faster block time on an ASIC-resistant POW. In this environment fair is fair, at least this work is honest and open and actually substantial. The Zclassic team is not out to trick and deceive people; they don't even have a central treasury (or will implement one). All of this is made possible by a very passionate community, calling it a scam is a bit harsh.
Tilt101
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@zman0225, I hear what you're saying. I wish it well. I just think naming it Bitcoin and make a pretend fork makes it scammy. Feeds off the Bitcoin Gold, Diamond, Platinum, Cash craze. We both can only call it as we see it. You're obviously a big proponent. I dumped my bags on the dead cat. If it drops to where the H&S says it should I'll fill another bag because I think most people disagree with me.
zman0225
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@Cryptolink, well, I come from a technical point of view when I invest. I'm not a good trader, just a decent code reader and tech investor. This is no different than any of those forks with the exception of privacy optional features. Whereas most of those forks changed a few lines of code to resolve philosophical differences, this is adding an entirely new feature. Having Bitcoin as a part of the name will hopefully invite more mainstream adoption than other privacy coins. That being said, you're absolutely right to have doubts, this is crypto after all -- no one is smart enough. What is interesting is that I've been following the core dev team pretty granularly and let me just say: maybe its the promise of fortunes, but I have not seen a team work so collaboratively and efficiently in my many years of engineering.
alexplq
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Told ppl weeks before. it's a marketing scam with no team.