Subject: Bit Talk Edition 50
Bit-Talk Newsletter Edition 50
We're All About Bitcoin

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The BIG Five O 
Wow! Believe it or not this is my 50th Bit-Talk newsletter and it pretty much coincides with my Bit-Talk site's 1st year anniversary. I think that 50 newsletters is quite a milestone and I hope that I have managed to deliver a lot of useful content over that time.

The Bit-Talk site is also crammed full of useful stuff, in particular, there is an entire video education/familiarisation series on Bitcoin and Bitclub which I still intend to add to as I move forward. So, if you haven't given Bit-Talk the once over and had a good look, maybe you should. Remember, you can also get all back copies of this Bit-Talk newsletter there in pdf form (those are the ones that generally have all the typos corrected etc).

You can get to Bit-Talk HERE
No, Not Z Cars, Z Cash !
Z Cash = Zero Cash (catchy don't you think?)

I was very happy to see the Bitclub Newsfeed today because they are launching a Z Cash mining pool opportunity. Now, unless you are a cryptocurrency anorak, like myself, it is quite likely that you will not have read anything about Z Cash at this stage. I, however, have been following the progress of Z Cash for months now and waiting for the launch so I have provided you with some links to independent articles about it and a link to the Z Cash website (lower down).

I very nearly took a pre-launch mining stake at Genesis just 2 weeks ago to get in on the Z Cash mining programme but I waited because I wanted to see if there was any chance that Bitclub might get in on the act (OK, I had also heard a little rumour that they might, but nothing confirmed until today).

The background to Z Cash is that it is doing for privacy what all previous crypto currencies have failed to do. It goes much further than anything before it and will allow transactions to happen between parties without any outsider seeing even the amount of the transaction or the content (or balance) left in the wallets belonging to the two parties involved. 

Why is privacy important? Well, aside from the obvious advantage of security (you can't get your identity stolen) which Bitcoin of course also gives us, Bitcoin does leave a paper trail that could be followed if one needed to. Z Cash will be absolutely anonymous. Now, those that aren't into the idea of anonymity might think "so what" but I assure you that. when it comes to the acid test, this could really make Z Cash stand out.

And the acid test is? It's development and take up rate.

That's a simplified summary but the key point for me is that Z Cash goes further than any other crypto-currency I've seen since Bitcoin when all others appear to be moving in the opposite direction and trying to be just another fiat currency replacement. 

That simply will not work, we have cash , we don't need a new form of cash.

Here is the link to Z Cash directly where you can see for yourself how different this is and why I got very interested in this development:


Before I share the BCN newsfeed with you, let me highlight the key to why I think Z Cash will succeed (a comment from their own website):

"Z cash offers total payment confidentiality, while still maintaining a decentralised network using a public blockchain. Unlike Bitcoin, Z cash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Z cash transactions do not depend on the cooperation of other parties".

Here are some more articles to look at:







Oh, and this statement from Coindesk themselves has to be intriguing don't you think: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Zcash. 

If it's good enough for the owners of Coindesk to get involved in, then who am I to knock it!

The BCN news feed follows
Big Opportunity with Zcash!
Date: October 12th

BitClub is Launching a Zcash Mining Pool...

Over the past year Zcash has been one of the most anticipated projects in the digital currency industry. They have assembled a dream team of top cryptographers and security experts who came together to build the most secure and private blockchain imaginable.

We are really excited about Zcash because unlike anything else in the market today, Zcash is truly the END GAME when it comes to privacy and security and there is nothing that can beat it... EVER!

What makes Zcash so special?

Zcash uses a zero proof, zero-knowledge permission-less blockchain that leaves no traces of any transactions. This is the ultimate in privacy and security and could quickly become the default privacy coin of the future.

With Zcash, the only thing a receiver knows about a transaction is whether or not the transaction is valid or invalid. There are no addresses to review, no blockchain trail, and there is no way for the public to see where balances are being kept in Zcash wallets.

This new technology is head and shoulders above anything else and if you want technical details we encourage you to check their website.

Initially the Bitcoin blockchain was considered to be private and anonymous, but it's actually the complete opposite because every single transaction is recorded for the public to view and there are now really great tracking tools that can trace Bitcoin transactions all the way back to their original creation.

This is also what makes Bitcoin great and the blockchain itself has sparked an entire record keeping revolution that we are just starting to see right now.

But this is not private, it's public! The industry has known Bitcoin is not ideal for privacy so there have been other coins launched that attempt to be more private and secure.

Blackcoin (BLK) was a great attempt as they would mix the transactions together making it much harder to track and therefore more secure.

Then Monero (XMR) came out and they mixed their transactions at the master node level making it nearly impossible to track them, but this is really just the same technology with a clever mixing strategy.

Zcash is the final version of a privacy and there is no mixing or special rules that run on top of the same protocol. They really broke the mould with this one and after the launch we think it will dominate the niche for those who require more privacy and security.

A BIG Opportunity for BitClub Members...

Zcash officially launches on October 28th and unlike most coins who provide an initial distribution of their coin by offering a pre-sale or some type of pre-mined amount, Zcash did nothing like this and their supply starts at 0 so nobody has a single coin yet!

(ED - This is potentially HUGE)

This means ONLY MINERS can get Zcash in the beginning, you cannot buy it from an exchange or get it anywhere else unless a miner decides to sell it. There is no existing supply and this will make Zcash very valuable in the early stages.

The Zcash team intended for the coin to be mined using CPU's which is a standard personal computer. They were thinking everyone would mine from their own PC's and just like the early days of Bitcoin the coin would naturally get distributed to individuals who were keeping the nodes running.

However, what they did not count on (or more likely what they did not expect to happen so quickly) was the implementation of GPU mining that could be configured to mine Zcash much more efficiently than CPU's.

Recently the Zcash team realized this was happening and they are now offering a $30,000 USD bounty for anyone who posts the configuration to allow GPU mining to work so that everyone can participate and nobody can corner the market on the initial launch.

Well, guess what... We have this code :)

We are not going to share it and collect the $30,000 bounty because it's much more valuable than this! We believe someone will probably come up with this code and collect the bounty but we also believe that our GPU mining configuration will be much more efficient than anything else.

So the bottom line is... We are in a great position right now to capitalize and get a HUGE jump on Zcash mining the minute it launches

Now if we were greedy then we would not tell you about this, instead we would make a small fortune ourselves for being early GPU miners and ride the Zcash wave to the bank.

However, we are not greedy... We like to share and our motto is all about providing our members with great opportunities like this one so that we can continue our mission to help you cash in!

Plus, we believe Zcash needs a good distribution channel since they did not pre-build one and this is something we can provide. We will mine everything on behalf of all BitClub members and distribute this coin to thousands of people who will become the early adopters of Zcash.

(ED. READ THIS NEXT BIT CAREFULLY)

This coin will be in high demand and there is no telling how profitable it can be. All the exchanges are dying to get their hands on Zcash right now and there are even orders on some exchanges that offer future contracts going as high as $50 USD per coin. This could sky rocket much higher because of huge demand and low supply.

*Quick Disclaimer... This is our opinion, this coin could fail and crash, it could have no value and end up being a huge flop. There is always a lot of risk with new coins but we believe in the Zcash team and in this zero proof technology enough to double down on our GPU mining equipment and go big!

How will the Zcash Pool work?

This pool will be very similar to how the Ethereum pool works. In fact, really good news for everyone in the Ethereum pool... You will have the option to use your GPU power to mine Zcash or keep it in Ethereum (we will allow you to make this switch shortly after the launch, probably about 1 week or so but it will not be ready on the launch day).

The Zcash pool will pay whatever it mines on a daily basis just like all other pools we run. You will have a virtual Zcash wallet and you will need to set up a real wallet to transfer your Zcash out of BitClub.

Each share will cost $1,000 USD that can be paid in either Bitcoin, ClubCoin, or through your virtual BCN Wallet balance. There will only be 5,000 shares available for purchase before the pool is sold out. We already purchased this power months ago in anticipation for this and it will be ready to hash by October 28th so there is no waiting!

All commissions for each share will pay exactly the same as our Bitcoin Mining Pool #2 (6 credits in binary and the rest through level up).

How/When Can I Buy?

We are going to be launching this pool in 3 different waves...

First, we ALWAYS offer our leaders the first chance at opportunities like this so our first wave will be as follows...

Wave #1 Shares by Rank...

Builder = up to 2 Shares
Pro Builder = up to 3 Shares
Master Builder = up to 4 Shares
Monster Builder = up to 5 Shares

If you are at any of these ranks you will see a buy link where you can purchase shares and you will have 12 hours of exclusive access before the next wave begins.

Wave #2 will be all Founders who have not achieved the Builder rank. You will have the opportunity to purchase 1 share and you will have 6 hours to complete your purchase before the next wave opens.

Wave #3 is everyone else at the rank of Miner who can purchase shares before the pool closes. The total promotion will last a maximum of 72 hours before it's closed. We expect this to pool sell out before the 72-hour deadline but if it doesn't then BitClub will retain whatever shares are not sold.

The Zcash pool will be launching sometime next week between the 21st of October and no later than the 24th. This gives you about 10 days to prepare for it and we will provide more details in another update, including a countdown clock at the top of our website 24 hours prior to the first wave.

GPU Mining Pools - Many Future Opportunities

We are focusing on expanding our GPU mining facilities right now because these machines are more versatile than the ASIC mining rigs used for Bitcoin. ASICs only have one purpose and one function so their lifespan is a lot shorter (2-3 years).

However, GPU's can be used for many different purposes outside of mining and this provides you with more opportunity in the future. We have big plans to become one of the largest GPU farms in the world.

We believe opportunities in mining will continue to hit the market for many years as new coins launch and when you purchase a GPU in this pool, it's yours forever!

Since GPU's can be used outside of mining as well we will continue to find profitable ways to rent out GPU power if it's more profitable than mining and these machines can last 20+ years so this could end up being a very good opportunity to own a piece of our farm!

Think of AWS (Amazon Web Services) they are spending billions building up their server farms and expanding like crazy. Last year they did 10 Billion USD in revenue from renting their servers and they are increasing capacity daily.

We see computing power being extremely important in the future because everything is moving to Artificial Intelligence based and there is a HUGE demand for Parallel Computing power right now.

Companies like Google, Microsoft and many others are expanding their server farms just to be able power their own services and we see many use cases and opportunities to rent GPU power in the future.

We envision our members being able to pick and choose where they want to push their GPU power to earn the best ROI available. So for those of you who purchased our Ethereum pool who were thinking it was only for Ethereum you are sitting in a very good position and your opportunity has only just begun!

There will be another update coming soon about everything else we are working on too... ClubCoin, CoinPay and the launch of our Mobile App, but first we wanted to dedicate this update to Zcash because it's a very unique and time sensitive opportunity.

Here's to a bright future!

Sincerely,
-BCN Support
End Bit
As with all things, there is always risk but it seems to me that, outside of Bitcoin, some crypto-currencies must emerge that will have a big impact in the world. I believe that Z Cash may be one of those. 

I still also think that Ethereum (Eth) has yet to have its day even though we do not appear to be doing too well with the mining quantities with that one. 

You saw the offer above however to transfer over to Z Cash with your Ethereum share if you wish. I will not be doing that as I believe you need to keep more than one horse in the race but that's my own personal decision. 

So far Bitclub has not let me down and I have no reason to believe that they will in the future. How good would it be to be sitting on 3 successful digital currencies in the future? Bitcoin, Eth and Z Cash. 

Ultimately, you must decide if this interests you or not but of course, you must be able to afford to purchase a mining share in Z Cash without panicking about the outcome otherwise there is no point taking this any further. 

I am waiting for launch and ready to dive in for a few shares.

                                                                 Bitclub
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    This is an online snapshot of a newsletter created by the owner of profitmagnetsdefault (John Duncan, 1st Floor, Barclays House, Gatehouse Way, HP19 8DB Aylesbury, United Kingdom) and sent via GetResponse on 2016-10-13. Report abuse