BitcoinZ AMA (Ask Me Anything) Event by Pointpay took place in Pointpay’s English Telegram channel on February 7 2023 at 18:00 CET.
For those who didn’t watch the event and of course for every visitor that would like to find rich information for BitcoinZ we have gathered all the questions and answers in this post. Additionally you can find useful links, informative material and charts that are related with each answer.
1) Please introduce yourself and tell us a little bit about the team behind BitcoinZ
Hello! We are BitcoinZ Project’s ambassadors.
BitcoinZ has several different teams of volunteers who work for different aspects of the Project. We use mostly nicknames all these years because the communication platforms that we mostly use are Discord & Telegram. There many new people appear every week and some of them are jumping into our teams making the project’s development increasingly interesting and decentralized.
– a team of people working mostly as core developers including members like Marcelus, Cryptorex, Nedbear and Gra.
– a team with extra developers who contribute to the project’s ecosystem like Cipi, Finiix, Rizzman, Richards, Jeremy and many others.
– a team of people who take care of marketing like contacting platforms that are interested in listing BitcoinZ or other Projects for collaborations including members like Chad, Rok, Chancefx, NuCash
– Graphics, Web Designing & Social media teams including members like EzzyG, Pancrypto, iSatBir, Monobody, Dio & Vandar and of course many important members in community manager & moderator teams that we would take paragraphs to mention 🙂
Join our amazing Community and take action with us by using this Discord Invitation!
2) Would you mind explaining what BitcoinZ is and what you are trying to accomplish with it?
As you can probably already started to realize from the answer to question 1 (with the so many team members *laughing* ) BitcoinZ is a really Community Driven Cryptocurrency Network, and all its people together is its absolute power. It is following the Proof of Work model so every coin of the supply is created 100% by the mining procedure.
The Project’s motto is “In Decentralization We Trust”. BitcoinZ was launched by anonymous founders as a gift to the world.
There is no company behind BitcoinZ. There is no founder who allocated any part of the supply into his wallet and there is no central authority! We remind that this was originally the concept of the cryptocurrency idea as it was introduced by the legendary now Bitcoin : A Decentralized Network of Personal Computers that would act as alternative so that people would not need to trust 3rd parties that act as Central Authorities.
We should add here that BitcoinZ has certain immutable parameters like immutable maximum supply and emission rate with slow fair halving for its mining rewards every 4 years exactly like Bitcoin.
Obviously this is why BitcoinZ used this name on 2017 when it was launched , because it always honors the pure cryptocurrency concept in its best form.
What many people tend to misunderstand is this : They mistakenly think that BitcoinZ has used this name because it was a Bitcoin’s chainfork (since almost all the bitcoin named assets like Bitcoin Cash, Bitcoin Gold etc are Bitcoin’s chainforks). We have to clarify that BitcoinZ is NOT a chainfork of Bitcoin. It had its own genesis block and its own unique, independent blockchain.
It never gave any free coins also called “forkdrops” to Bitcoin holders like the chainforks of Bitcoin did.
In addition, BitcoinZ never had any kind of Initial Coin Offering and most importantly it had absolutely ZERO premine which means that its founder had nothing to “earn” besides of really helping the World to have an alternative, improved, uncensored and completely Decentralized network for Free borderless transactions with virtually zero fees and strong optional privacy.
The “Z” next to its name reveals some of its great improvements:
– ZkSNARKS optional privacy. The user can enjoy optional private transactions, something that Bitcoin cannot provide since all transactions are only transparent by default.
– ZHash ASIC resistant algorithm. The Project’s Community following the White Paper’s foundation principles, pioneered in keeping the mining algorithm of the project resistant to ASIC hardware. This way the average PC user can participate in BitcoinZ’s network through the mining process, receiving meaningful coin rewards without antagonizing the ASIC miners which have dominated Bitcoin’s network for many years exploiting the immutability of its mining algorithm. ASIC miners are owned only by few people and are manufactured by a couple of companies so keeping the network ASIC resistant was a huge improvement since it encourages and secures the Community’s participation in the network contributing to its Decentralization but also to the Decentralization of the coin supply’s Distribution and of the Project’s Governance.
– Zero Fees Virtually, since BitcoinZ is designed to handle more transactions per second than Bitcoin and with an ideal maximum supply of 21B coins (which is 1000X higher than Bitcoin’s one) and this way achieves to keep next to zero fees in its independent network. The users can send sums of $10, $1 or even cents without caring for fees. Something that of course is impossible with coins like BTC or ETH. BitcoinZ due to its wisely chosen maximum supply also offers much easier prices that don’t look like the long non-integer numbers like 0.00056831 BTC or like the long Trillion prices of most inflationary tokens, making it an easier to use crypto for everyday transactions.
There are many other improvements with BitcoinZ like its speed, its lighter blockchain, its scalability, as its White Paper predicts upgrades for improvements that the Community needs, and many more.
Read 33 reasons explaining why BitcoinZ should be in your portfolio by pressing the following button.
3. How do you envision the Blockchain Industry advancing in the future and how do you expect to be like ?
A big part of our community consists of cryptocurrency ideologists: People who love the pure crypto concept and we mostly expect it to fulfill its original purpose. To offer truly Decentralized alternative networks for fast, easy, secure transactions without high fees, without border boundaries, without censorship and of course with equal rights in privacy.
Privacy is going to play a huge role in the near Future as we have repeatedly witnessed many tries made by systemic Authorities to take everything under their control. This is why only networks that can offer true Decentralization and Privacy features will be the winners in the long term.
It would be good to make a special mention to the dangers coming from the crypto industry itself. Unfortunately, every great invention in the human history, like Fire in the first years, or Nuclear Energy in the most recent ones, can be used constructively or destructively. History repeats itself and the same happens now with the blockchain technology. The greediness of some fraudulent people who abuse the lack of knowledge of the most newcomers about how cryptocurrencies and blockchains work, leads to a dramatically increasing number of cryptocurrency scams. Founders who allocate the whole supply in their pocket, paying some influencers in order to convince people that their asset is revolutionary, they pump it, they sell its supply and they repeat the process in a never ending vicious circle.
Especially after the so called “DeFi” trend, launching a useless token became a matter of just a few hours. Besides, this is how we ended up having thousands of centralized projects or even scams that pretend to be real cryptocurrencies and of course so many dead crypto projects now with many people fearing even to hear about the word “Cryptocurrency”. Maybe this is a systemic try to destroy the idea from within using bad actors?
In any case, we have to be extremely careful, in old Communities like BitcoinZ we are doing our best to educate and protect people, especially the newcomers. Also, all the important crypto market factors like exchanges, platforms, wallet providers etc. must show some maturity and responsibility in order to ensure that the Cryptocurrency World will not collapse from the aforementioned risks in the end.
- What is the problem that your community aims to solve in the Blockchain Industry? What makes your platform unique among other platforms offering similar products?
BitcoinZ, as we described above aims to offer in the Blockchain Industry solutions in 3 different levels:
-The first and major one is acting as a trully Community Driven, Independent, Uncensored, Open to everyone, 100% Fair and Decentralized Network for fast, secure, ultra-cheap transactions. A Network especially concentrated in providing PC participation and privacy options.
This is the ultimate use case for a real cryptocurrency and what our developers are trying to always offer.
We have to underline that all the above together cannot be easily found in any cryptocurrency project even today with so many thousands of projects out there, since the vast majority of them are either centralized and risky or short lived.
-The second level is offering a ready to work wide ecosystem by connecting and offering real use cases.
Some good examples here are the BitcoinZDEX platform and the recently launched Connect-Z and Space-Z for which we can possibly have the opportunity to talk later.
–The third level is Educating about the blockchain technology with the active participation of the Community in this procedure by as many people as it is possible. This is the only way to expand the Blockchain Industry in a healthy and safe way, protecting the newcomers from potential risks and bringing more people in this new and interesting world.
We have to mention that the above is not just a theory. Our Project’s members have been quite like crypto activists with strong social media presence uncovering scams and informing people. Our community has delivered educational projects like Cryptospedia providing easy to understand explanations and articles for crypto definitions where members from all over the world can contribute actively in translation fixes with a sophisticated system that updates the site’s articles in multiple languages. Another example is our unique “Interactive White Paper” which is an alternative, less technical version with more simplistic design including graphics elements and QR codes for any hard to understand definition that are connected with educational articles. So BitcoinZ is in practice a user-friendly project that tries to help the visitor of the cryptocurrency world. This is exceptionally rare as the no1 issue of most people in crypto is the lack of understanding and this is why we have an increasing number of crypto scams victims.
5) Token Burning is advantageous to any project as it allows for the control of token circulation and the provision of greater incentives to investors. Do you have a plan to burn tokens?
BitcoinZ is a mineable coin, not a token. It has its own independent network. Like it happens with Bitcoin, BitcoinZ’s maximum coin supply is immutable together with some other important parameters like the emissions aka the pace with which new coins are created and distributed to the miners. There are no supply burns for BitcoinZ but we have to mention that actually having the same emission curve with the one that Bitcoin has, should be even more attractive to an investor than making supply burns to a token.
Because assets like BTC and BTCZ with their immutable max supply act as hedge against inflation. Investors know that inflation is what makes printed money so weak since Central Banks have no actual stable rules set for their currency’s maximum supply.
Token burnings on the other hand most usually look like Central Bank’s arbitrary decisions. Most tokens’ founders arbitrary create huge supply of Trillion, Quadrillion or even more units that allocate in their own wallets with a smart contract before selling them to the market. Their assets are not mineable and fairly distributed. Then they start playing a game of speculation with fames for coin burns or actual burns. So what? They burn something that themselves had previously created in extreme abundance (and that they can easily re-make anytime!).
For an investor, knowing that a coin like BTC is going to have 21M (and no more) units or a coin like BTCZ is going to have 21B (and no more) units created in the next 140 years of their life should be much more attractive.
Users can find more info about BitcoinZ’s emissions curve and mining reward halvings by pressing the following button
6) The presence of competitors is an important component of any business. Which of BitcoinZ’s major competitors are the most significant? What’s the team’s plan for overtaking its competitors?
To be honest, we wish to see the healthy part of the crypto “industry” as a place with plenty of space for the pure cryptocurrencies that offer truly decentralized networks acting as alternatives for people’s transactions. Because this kind of cryptocurrency networks are very few and they should coexist since centralizing everything in just a couple of ETH-like “motherchains” would be dangerous and completely against the original cryptocurrency concept. Already, some side effects with the legendary ETH gas fee spikes of $150+ cost per transaction or the pauses of other super hyped “ETH-wannabe” networks are quite well known.
So we feel more like that the few Bitcoin-like cryptocurrency networks that are still around, which are getting even fewer or just a handful if we add as filters the privacy, the community driven character, the fair rules, and the PC mining options, don’t have the luxury to see each other as competitor. Thus, the real competitors of BitcoinZ are the unnumbered scam tokens and centralized projects that distract people from cryptocurrencies, making them think that “crypto” is gambling with meme tokens or paying $50 in gas fees and having 10 rug pulls weekly.
Our community’s plan for overtaking this kind of… competitors is cooperating with other pure Bitcoin-like projects that share the same values and vision. Building alliances, cooperating for the development of new use cases, educating our communities and motivating people in order to be more active.
7) To build a strong and large community what strategies do you employ? Is it your belief that the power of the community will enable your project to grow? Would you be able to explain how you plan to utilize these communities as part of your platform?
We strongly believe that Community is the key for success, and we could not do otherwise for a project like BitcoinZ. The positive thing is that BitcoinZ’s foundation rules by nature inspire an average user to be more active in our Project. The fair rules, the fact that the project had no founder allocating coins in his wallet, the opportunity for everyone to mine participating to the network and receiving coin rewards, the openness of the project as literally everyone can actively take part in its development by joining the teams of volunteers, all these and many other BTCZ aspects contribute decisively in its Community’s growth. This is why BitcoinZ is only growing for years socially.
A devil’s advocate would wonder “then why BitcoinZ is not already in the top 100 coins?” Indeed someone who has the opportunity to read about BitcoinZ and spends some time to discover it in practice will most likely fall in love with its Community but people don’t know about it even after so many years.. ! The project has been an organic grower because it had no central authority, no free funds, no company behind it, no heavy promotion and a visitor in the Crypto Universe has too many distractions in a super noisy (and scammy) environment.
Some recent developments though have helped to make the difference and accelerate our growth even during bear periods.
BitcoinZ with the concept of Army-Z made it to be the first 100% mineable coin that can be distributed even to people who don’t have mining equipment. Our mining community donates monthly a number of coins to the Community Fund and a part of this coins is offered to people who are active socially supporting BitcoinZ and the original cryptocurrency idea with an automated bot system in Discord.
In addition, BitcoinZ was the first cryptocurrency that implemented a Dynamic Roadmap: A roadmap that is not just a static plan coming from a specific closed team. It is an ever-evolving Community oriented Roadmap that is enriched with the best community sub-projects and ideas. Like a puzzle of creativity that is updated every few months with the Brain-Z events, the BitcoinZ Community’s Online Meetings that are usually organized twice per year. In the Brain-Z Meetings the Community members can additionally see a big slide show with speakers from several teams covering every aspect and all the recent BTCZ news and even guest developers making presentations. Every friend or visitor can even interact live by writing questions that are answered in special sections of the event.
You can possibly already realize from the aforementioned that for BitcoinZ its community is an unbreakable and highly required part of its very existence. It is not just a typical token team’s and community’s relationship in the way that most crypto projects nowadays try to build. BitcoinZ is its community itself.
By pressing the button below you can find a list with the most recent Brain-Z live meetings.
8) Would it be possible for you to provide us with more information about your roadmap for this year and the future as well as any updates on your research and development efforts?
Our dear ladies and gentlemen who are watching this AMA are free to visit our Community’s site Getbtcz.com and check our Dynamic Roadmap on the main page or to watch the relevant Brain-Z meeting with its analytical presentation (on 22 January 2022 ).
Most importantly, you can see the presentation of the elements that were delivered after some months like ConnectZ.
Connect-Z is a platform, developed by our Community, that has easy to use and minimal interface. It acts as a Gateway connecting the BitcoinZ ecosystem with the Binance Smart Chain and soon with even more Blockchains.
The users can swap native BTCZ coins to wBTCZ and vice versa. As wBTCZ is named the tokenized version of BTCZ which is now available in the Binance Smart Chain. The native coins are locked and the same number of wBTCZ tokens are released in the desired address in BSC. The two assets are pegged with a 1:1 ratio because BitcoinZ’s max supply is immutable. In the same way, the user can swap wBTCZ back to native BTCZ in the BitcoinZ blockchain as the Gateway burns the wBTCZ token and releases the same number of BTCZ. With ConnectZ the user can easily access the benefits of two different ecosystems enjoying their advantages. In BSC, they can contribute to liquidity pools in PancakeSwap with wBTCZ , store wBTCZ in popular platforms like Metamask, Exodus or even in cold wallets like Ledger.
In the native BitcoinZ blockchain they can have next to zero fees, strong privacy, PC mining, active community participation in the project’s development and many more.
Some of the future plans that are either already included or will be included in the next update of our Roadmap are:
The DNA-Z which is a new generation of wallet that will support privacy even for light mobile wallets.
The Raise-Z which is a fundraising platform that combines lottery tickets motivating people to participate in the procedure with future support for hosting also fundraisings of other projects.
The next upgrade for Connect-Z which will add Ethereum compatible tokenized version of BTCZ and access to ETH Defi markets
The Space-Z which is a platform for task hunters and services.
Of course we should not forget that there are also other projects that might surprise us all because honestly in a heavily Decentralized environment like this of BitcoinZ nobody can ever know exactly what is currently under development by some teams. So when we are near another Community Meeting a couple of surprisingly interesting additions can arise by members who ask to cover some extra slides presenting or announcing something completely new and unknown right now.
9) Marketing is an integral part of every project. To ensure that everyone is aware of the potential of the project, what is your strategy for attracting new users and investors to BitcoinZ and maintaining them over the long run ?
Indeed, marketing has a crucial role for every project’s success. BitcoinZ’s community tries to follow a number of recipes in order to benefit from the Project’s Decentralized expansion and development.
Every about 6 months as we already mentioned we organize our Brain-Z Community’s Online Conference where we provide information for the advancements of the Project, we gather news for upcoming developments in our Ecosystem, social media news etc. There is no better way than keeping investors and members of a Community updated and giving them a platform to interact and express their point of view.
Every September, with the birthday of the Project, our graphics and social media team makes a Historical Review for the year that has passed and delivers a Yearly Calendar-like graph presenting the most important dates and moments for the Project. The visitors and investors can easily check all the historic achievements and important things together and when these took place from the beginning. We already have release 5 such history-graphs, and we are preparing the 6th as BitcoinZ will be 6 years old the next September! (you can find all these graphs in https://getbtcz.com/ )
BitcoinZ with the already described concept of Army-Z in combination with its fair foundation rules encourages an increasingly active community that feels much more responsible and determined for supporting the project in social media which are a major battleground for any marketing success today. The feeling is completely different between a common token “shiller” who is trying to “pump” a token that he just bought and a BitcoinZ community member who deeply believes in the project’s pure fundamentals and knows that he contributes to its network, to its development etc. This is why BitcoinZ despite the fact that is still low in CoinMarketCap and not especially popular yet, has a significantly active community that only grows for so many years.
At last but not least, our marketing teams try to increasingly implement marketing strategies that can contribute to better results and highest popularity for BitcoinZ. Press releases with informative articles, Strong Presence in CoinMarketCap Community’s beta platform, Rich eye-catching artworks and mini videos exclusively designed for BitcoinZ, Special events like Meme and Trading Competitions, YouTube Content building, SEO specialists working for better BitcoinZ-related results are only some examples.
10) In what ways does your token benefit users and what are its full potential uses?
As we previously explained, BitcoinZ is a coin so it not limited in providing just a specific function like most tokens do, most usually even copying the very same function.
BitcoinZ is a working real crypto “product” and something much bigger since it is among the very few truly Decentralized Cryptocurrency Networks in every level offering already a wide range of advantages and unlimited opportunities for its ecosystem’s future.
Offering a worldwide, independent, Community Driven PC network with a light blockchain, fair rules, immutable max supply and emissions, virtually zero fees, strong optional privacy and uncensored borderless transactions is the ultimate use case that unfolds a number of more other use cases.
For example, BITCOINZ can be used as a store of value in the long term by those who truly believe in the crypto concept because it is among the classic networks with immutable parameters associated with its supply. This enables it to function as a hedge against inflation like Bitcoin, Litecoin etc
As an extension to the above, BitcoinZ can be also used as a store of savings coming from PC equipment as well. With the user not needing to even buy the asset because he or she can just use their PC systems for supporting the network with the mining procedure and receiving meaningful coin rewards which can have dramatically higher value over time with higher BTCZ popularity. This is impossible to happen with tokens since they are not mineable or with assets like BTC or ZCASH which are dominated by ASIC miners that only few companies manufacture making PC mining practically impossible.
BitcoinZ’s users can use it for small sums of payments without losing any significant percentage of the transaction for paying fees. This opens a wide range of extra use cases, as BTCZ already earns increased acceptance by a number of users who use tipping bot systems like tip.cc and royal swap. I remind that moving $1 as BTC or ETH is almost impossible, and even with more modern coins like BNB or its tokens can be quite expensive. BitcoinZ solves that.
Below you can see how the user is able in practice to send a sum of just 16 cents paying virtually zero fees. Even with 100000X increased network traffic or BTCZ’s value the transaction cost would be a small fraction of a dollar’s cent.
BitcoinZ’s privacy features makes it ideal for situations where the users are in danger and have to send a sum under emergency situations. The recent revolutions in countries with totalitarian regimes are a perfect example for this. A BTC or token user that would like to help a revolting friend who is in need, by sending funds, could possibly put him in danger with a transparent transaction. A ZK-snarks private transaction would be next to impossible to be detected by the country’s dictators. Same happens for private messages that can be potentially sent with strong encryption using BTCZ’s technology.
Of course the targeted & more specialized real use cases are also there for BitcoinZ.
For example Space-Z, is a recently launched platform for task hunters and small businesses by the BitcoinZ community. The visitors of Space-Z can either complete tasks or ask for the completion of a series of tasks or order a needed task for their business.
Space-Z was designed for easiness and openness. You have to just join the SpaceZ Discord Server and you can instantly start collecting rewards by completing tasks or to customize an order for a task that your business needs!
All payments are made in BTCZ coins by a sophisticated bot system that checks screenshot proofs and approves the pre-defined payments. The user can move his coins in a wallet to his liking from his in Discord wallet that is automatically generated & connected to his Discord account.
With Space-Z small businesses will be able to easily get access to an increasing number of highly customizable services and people from all around the World will have the opportunity to earn some extra income by completing a number of easy daily tasks. All these using the BitcoinZ network for their transactions!
Youtubers that would like to see their channels growing organically, company profiles that wish to increase their social media interactions, small businesses which need better scores in search engines, cryptocurrency projects that need some extra help in specific scenarios are just some examples of the Space-Z & BTCZ use cases.