Before we start, please allow me to briefly introduce the BTCS project.Introduction to the Crisis:In today's digital world, trust is the core asset in the realm of cryptocurrency. On July 10, 2024, a major misstep by the original BTCS project team shocked the cryptocurrency community. They abandoned the project, dumped all BTCS coins, and attempted to create a false community-friendly image. The project suddenly vanished in all forms (website, GitHub repo, nodes supported, social profiles erased…), leaving the crypto community defenseless and the crypto industry in a disgraceful position. Their final act was to delete all related data, erasing any trace. This irresponsible behavior severely harmed investors' trust and the sustainability of the project.
The Failure of Original Management:This event exposed the original management's lack of transparency and responsibility and highlighted the urgent need for ethics, good standing, and accountability in the cryptocurrency industry. We, as direct victims, deeply felt the pain of betrayal. In society, nothing is more unacceptable than being betrayed and deceived in relationships built on trust. Therefore, we must resolutely oppose these trust-damaging actions.
The Emergence of New BTCS Protocol:Against this backdrop, a new team, New BTCS, emerged with the aim of restoring credibility. A team of developers, experienced professionals, and crypto investors decided to revive the project from a trustworthy perspective by debugging all malicious codes set by scammers in the original source code. Chief software engineer Olaf, along with a team of experienced developers and software experts, worked tirelessly with the aim of restoring trust and security in a fair protocol for investors and the entire ecosystem and industry. Fortunately, they had backed up all data before the crisis, protecting our interests as investors and providing technical support for the project's restart. The new team pledges to rebuild this cryptocurrency project with the utmost transparency and integrity, ensuring that all operations and updates are open to community members, truly achieving an open-source and community-driven innovation.
Technological and Ethical Overhaul:The new team discovered many hidden problems and dishonest codes during the review of the original code. These issues posed a severe threat to the fairness and transparency of the project. All these problematic codes have been thoroughly eradicated by the new team, ensuring that the New BTCS project can start anew on a clean and fair basis.
Innovations in PoW Work Mode:Furthermore, the new team has begun an in-depth analysis and discussion of the problems existing in the original POW work mode. We identified loopholes where some individuals exploited block heights for brief periods of high computational power to quickly acquire large amounts of BTCS, causing severe market price fluctuations. To prevent this unfair arbitrage behavior, we have designed a new system blockchain: the 2.0 mode, which will more effectively ensure the project's fairness, long-term sustainability, and scalability.
Invitation for Community Participation:The success of the new New BTCS protocol project relies not only on technological proof of innovation and reliability but also on the active participation and support of every community member. If you wish to be part of a sincere and open community and are willing to contribute your knowledge and time, we warmly invite you to join us. Together, we will create a fair and just investment environment that brings value and returns to all members. Let us rebuild trust together and promote transparent and fair development of this cryptocurrency project.
Thank you for joining us in this endeavor to contribute to a sane, trustworthy, and fair value blockchain proposal for everyone.
Project Specification:- Coin Name: Bitcoin Silver
- Ticker: BTCS
- Algorithm: SHA256
- Block Time: 5 Minutes
- Maximum Supply: 21,470,000 BTCS
- Coin Maturity: 200 Blocks
- Address Prefix: B / bs1
- Halving Interval: 210,000 Blocks
- Initial Security Fund: 470K
- Initial Block Reward: 50 BTCS
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Exchange Update:The original BTCS has been delisted from Xeggex. Due to unreasonable demands from XeggeX, who requested a swap of 1.5M Old BTCS for New BTCS to relist, our team has firmly rejected this baseless condition. As victims of the original project's deceit, we could not foresee such fraudulence. Committed to transparency, fairness, and justice, we refuse to accept any terms that compromise these values. Consequently, BTCS was forcibly delisted by XeggeX, an action we strongly condemn.
On a brighter note, we are currently in talks with five new exchanges and expect to relist soon.
Stay tuned for further updates!
