Bitcoin Private is an open source, decentralized, private cryptocurrency which supports peer-to-peer transactions without an intermediary. When it forked out of Bitcoin, it had a good momentum, but recently it didn’t go very well.
Bitcoin Private(BTCP) seems kept having a lot of problems, even though recently got the support of the founder of AntiVirus John McAfee, leading to a big increase in prices, still, they need to face quite a lot challenges. But there is one thing that we can say for sure, BTCP still has a long way to go in terms of markets and transactions to gain a foothold in a highly competitive cryptocurrency industry.
John McPhee himself put a lot of emphasis on the privacy features of cryptocurrency. He had tweeted to support another cryptocurrency Verge before, causing the price to rise. However in terms of privacy cryptocurrency itself, the feature of anonymity can’t satisfy the management demand of many supervision organizations, for example, the Japanese cryptocurrency bourse CoinCheck recently announced to give up Dashcoin, Monero, and ZCash.
On the other hand, there are also many problems within the team BTCP. Rhett Creighton, core developers of BTCP, accusing the other two developers of stealing project fund and being evicted. At present, there are two telegram groups in BTCP that publish information about their projects, confusing the community users.
Rhett Creighton showed that BTCP developers used some of the money for the project to pay the coinage to the Binance, but it was rejected by Binance because it did not pay for the right price. In addition, BTCP can only be protected by GPU and is easily taken over, thus it needs to deal with the threat of mining attack which just like recently Bitcoin Gold suffered a double payment attack by miners, causing some cryptocurrency exchange wallets under threat and a lot of money Was transferred and suffered losses.
As the matter of fact, team BTCP still ambitious about becoming the leader of the privacy cryptocurrency. If Bitcoin Private can be listed on large cryptocurrency exchanges, there may be better developed. But there is no doubt that BTCP actually is a newly born privacy cryptocurrency and one of the highest risk cryptocurrency which had a hard time in the beginning stage. What’s more, there is also uncertainty about further price declines.
Even though Bitcoin Private are having a hard time, we should give it a chance to see how it will become in the future.
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