Bitcoin Private has been a drama filled roller coaster since its inception in early 2018. In an article that I published on the 17th November 2019 ‘No Sunshine, No Rainbows’ I described the issue where an exploit in the ZCash code had resulted in the introduction of a considerable number of counterfeit BTCP.

In a statement released in a Community Update on 31st January 2020 ‘THE STATE AND FUTURE OF BITCOIN PRIVATE | by Bitcoin Private | Medium’ it was confirmed that to address the issue a snapshot would be taken at block height 680,000 and a new chain would…

By now you may be aware of the BTCP coin burn that occurred at Block Height 480000 (at 7:00 GMT 17th February), the result of which is that a large number of coins have been removed from circulation. I have conducted my own analysis which was complicated due to several aggravating factors associated with the article written by Coin Metrics (Don’t trust, verify: A Bitcoin Private case study). More on what this actually means later.

The coin burn was a controversial gift left by the outgoing BTCP ‘Core Team’ at the start of 2019, partly in response to the exploit…

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