COMMUNITY NEWS & FEATURE

THE BTCP TREASURY AND COMMUNITY IN ACTION

New Treasury team, wallets and initiatives.

As previously announced, we have a new treasury team in place which consists of the following BTCP Community Members:

● Jay Pujanes

● David Akers

● Matt Pass

● Justin Bruce

● Daniele “Robotica” Monteleone

We would like to thank the old treasury team composed of Jacob Brutman, Giuseppe Stuto, Peter Hatzipetros, Adib Alami and Evan Darby. In hard times they fought a tough battle against a bear market, FUD and an illicit infusing of extra coins in the original code of BTCP by an unknown bad actor. Tough working conditions, but they persevered and carried the torch forward no matter the odds. For that, they deserve our utmost gratitude!

With the passing of the baton to the new treasurers, new multi-sig wallets have been set up to store the funds consisting of 4.90258425 Bitcoins and 12,574.1168979 Bitcoin Privates. Of the $6,193.62 that was reported under the USD funds section of the last treasury update, $3,602.83 were used to pay for Gcloud charges while the remaining USD funds were converted to BTC and sent to the BTC Multi-sig Wallet of the new Treasury.

For transparency, here are the wallet addresses:

● For Bitcoin:

bc1q5tzuql365sxfjapl9uc65ujpy89ja6y33cn8p48jt3lw5rx9skfs8zz4gy

● For Bitcoin Private:

bxh2Ams3hcQsK44dAqD3oJL7jG9o4wHSXHH

Thanks to Matt Pass, you can now obtain live status update of the treasury wallets by proceeding to https://treasury.btcprivate.org/ . You can also reach it through the main site https://btcprivate.org/ and clicking the Tools button then the Treasury button. Big shout out to Matt Pass for setting up and hosting the new treasury site!

Also, the new treasury team has implemented a series of cost saving initiatives. Previously, BTCP ElectrumX servers were being hosted by Google Cloud which costs us ~$600 per month. To save on costs, our ElectrumX servers have been migrated from Google Cloud to VULTR, which is currently on free trial. However, after the free trial ends, VULTR costs are only $40 per month per ElectrumX server. Since we currently have two ElectrumX servers, i.e., electrum.btcprivate.org (port 5222) and electrum3.btcprivate.org (port 5222), then VULTR costs would only be $80 per month for these servers and we would save ~$520 every month. Many thanks to CryptoNite, David Akers and Matt Pass for setting up these servers!

It is also currently being explored which of BTCP’s services can be hosted by Daniele “Robotica” Monteleone, who offered his company’s infrastructure as a short term solution or back up system for emergencies. The treasury team is currently assessing the remaining Google Cloud services to consider other cost saving measures and will provide details as soon as possible.

Meanwhile, the treasury team is looking to set up electrum2.btcprivate.org but hopes for the community to get involved and run their own ElectrumX servers as we strive towards a fully decentralized model. A high end computer is not required to host it. What is required is just a Linux computer that has downloaded the BTCP full node and ElectrumX server via BTCP Github and is always online 24/7. If you wish to volunteer, please don’t hesitate to contact us via Telegram, Discord and the other social media channels of BTCP. The treasury is looking into other revenue generating ideas and is keen to hear from the community if there are any initiatives that could be implemented. Obviously, the delivery of any initiative will require support and contribution, so please get involved!

Reorganization and internal cleansing.

Consistent with the decentralized and community-driven nature of BTCP, we have dispensed with the concept of a Core Team because the community is the team! Some of the former BTCP Core Team members are still around. They and the longtime contributors of the project are now referred to as BTCP Veteran Contributors. To be a BTCP Veteran Contributor, one must be in the trenches and in Bitcoin Private as an active and positive member for a considerable amount of time. Hence, if you wish to be a BTCP Veteran Contributor then you must be a contributor first.

With the aim of putting a stop and solving the mystery behind the unusual decrease in BTCP Telegram membership from around 12,000 to around 5700, an investigation was conducted by Jay Pujanes (Telegram handle: @Jay_Pu) to determine its cause. With the help of @AguilaairES, it was discovered that a rogue admin named “John — The Wolf of Tronbet” (Telegram handle: @schoko444) was banning around 100 members per day without any valid reason at all. This rogue admin has now been removed! If you feel that you are one of those wrongly banned, please file an appeal in the telegram channel @btcpresolutions.

We hope to see you all back in our community so we can get our favorite privacy coin back on track!

--

--

Bitcoin & ZClassic fork-merge with a focus on making private cryptocurrency transactions mainstream. https://btcprivate.org/ https://GitHub.com/BTCPrivate

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Bitcoin Private

Bitcoin & ZClassic fork-merge with a focus on making private cryptocurrency transactions mainstream. https://btcprivate.org/ https://GitHub.com/BTCPrivate