Bitcoin Black Whitepaper (No. 197)

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1000USD current bounty
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White Paper Summary
Bitcoin Black Whitepaper

Accreditation

Congratulations

We are proud to announce that the following document Bitcoin Black Whitepaper WP version 197 achieved the ChainBLX opinion based accreditation on 2019-03-18 23:24:07.

This accreditation testifies that it is our professional opinion as well as the opinion of our community that whitepaper Bitcoin Black Whitepaper is in compliance with the professional standard brought forward and regulated by chainblx.io.

Document Bitcoin Black Whitepaper reached its accreditation with the following statistics.

A ChainBLX accreditation is very difficult to archive and in no way should any statistic be indicative of the quality of the document at hand. Neither should the achievement of accreditation in anyway imply that investors should conduct their own diligence prior to any investment.

Likes of forum members: 0 with a total of number of claims asserted 4 and total of claims dismissed 4.

The discussion forum will remain open for future discussion, the remainder of the bounty will be reimbursed to the owner and no future claims can be filed.

In the name of the community and ChainBLX

We wish Bitcoin Black Whitepaper the best of success.

karlkarl Reputation: 153
Status: White Paper Owner
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Interesting. Thanks for posting. Looking forward to our experts opinion.

7ef0a30c0cb8c841cb116c912837e17e
MX10178MX10178 Reputation: 52
Status: Bounty Hunter
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Automatic Claim Number - cla1553105979

Quote - Blockstream owns bitcoin and bitmain and affiliate mining pools control over 50% of the hashing power. These two facts make Bitcoin worthless.

Claim

The very first paragraph of this whitepaper makes several generalized claims with absolutely no data or source to back them up. This includes the above-quoted claim that: "Bitcoin is worthless"

Bitcoin is obviously not worthless. It can be exchanged for goods and services, as well as be converted to fiat. In is general knowledge that thousands of Bitcoin transactions occur world-wide every day. Please see the following price quote as confirmation that Bitcoin is not worthless: https://www.coinbase.com/price/bitcoin
faccc300d87676286d9d16e32eb40a79
MX10178MX10178 Reputation: 52
Status: Bounty Hunter
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Automatic Claim Number - cla1553125408

Quote - Some examples of foundations: -An international marketing company based in Sydney, Australia arranging human walking billboards in every major city in the world for a duration of 3 days at the beginning of the Bitcoin Black ICO. -A freelance designer contributing a set of graphics and branding material. -A flash mob in England to aim to break the biggest flash mob attendance to promote Bitcoin Black. -An ebay like marketplace bitcoinblack.market for local sale or purchased of all legal items. -A company in a juristiction where it is possible to get a banking licence to enable card issuing which will create and issue the Bitcoin Black card. -An online store specializing in Bitcoin Black items such as t-shirts, car stickers, cups and more which will be dropshipped worldwide at the lowest costs. -A gaming company to create Bitcoin Black related android and iOS games which will have Bitcoin Black as the games currency.

Claim

These "foundations" are listed in such a way as to imply that they already exist. It says "some examples of foundations". It should say "some examples of what a foundation can be". This is done to mislead the reader into thinking that these Foundations are in place, and that there will be a huge amount of hype and activity surrounding the ICO.57191094524d56e50cbcc4decaf5673b
onderI1sonderI1s Reputation: 54
Status: Bounty Hunter
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Automatic Claim Number - cla1553159258

Quote - Bitcoin is in a cycle which will discourage people from cryptocurrency and remove hope of cryptocurrency being an ecosystem for the people, making it seem like an enemy as the majority of people enter at the wrong time due to the media.

Claim

Bitcoin Black's intention is to be adopted for use as a p2p payment which gives the power back to the people.The statement is contradicting because; it states clearly that bitcoin is a payment system which gives power back to the people.Then further downwards, it is contradicted that bitcoin is in cycle which will discourage people from cryptocurrency. Hence the statement is misleading.11fbf170a06772d915b71734d48ce664
onderI1sonderI1s Reputation: 54
Status: Bounty Hunter
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Automatic Claim Number - cla1553162003

Quote - Blockstream owns bitcoin and bitmain and affiliate mining pools control over 50% of the hashing power. These two facts make Bitcoin worthless.

Claim

Bitcoin Black's intention is to be adopted for use as a p2p payment system which gives power back to people.A peer to peer payment system which is completely decentralized that gives power back to the people. Therefore, the statement that bitcoin is worthless, is misleading.071089876420a482e854e90294a2452a
THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
Status: Member
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Opinion #38: An opinion has been issued in Automatic Claim Number - cla1553105979.

It was decided to release 2% of the funds. The jury voted in their opinion to release an average of 4% of the bounty and a median of 2% of the bounty.

Please see below for the opinion of the jury:
  • Opinion #1 - it seems like more a figure of speech than a direct claim of $0 value.
  • Opinion #2 - Bitcoin Black could have chosen to use a different word to make their point as saying Bitcoin is worthless is obviously not true. Plus, the whitepaper did not provide evidence to support their statement. Partial bounty is released
  • Opinion #3 - Agreed that worthless is not accurate assumption, which can be drawn out of the two facts given in the WP. The correctness of the facts is not in doubt. Concerning that the whole subject is regarding decentralization it may significant reduce the value of Bitcoin, but no empirical evidence from the bitcoin exchange rate has been given. The WP should have avoided an absolute statement, but it was surly not intentionally misleading.

Claim: The very first paragraph of this whitepaper makes several generalized claims with absolutely no data or source to back them up. This includes the above-quoted claim that: "Bitcoin is worthless" Bitcoin is obviously not worthless. It can be exchanged for goods and services, as well as be converted to fiat. In is general knowledge that thousands of Bitcoin transactions occur world-wide every day. Please see the following price quote as confirmation that Bitcoin is not worthless: https://www.coinbase.com/price/bitcoin

Highlight: Blockstream owns bitcoin and bitmain and affiliate mining pools control over 50% of the hashing power. These two facts make Bitcoin worthless.

b8a586b6da16a9d7d81897bda6e1d078
THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
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Opinion #39: An opinion has been issued in Automatic Claim Number - cla1553125408.

It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of 0% of the bounty.

Please see below for the opinion of the jury:
  • Opinion #1 - It seems clear that this a planed projects
  • Opinion #2 - From reading the quote and the text before and after this quote, they are just providing examples of what the ICO funds will go toward. There is nothing wrong with this
  • Opinion #3 - This is a small semantic point about phrasing that is not misleading.

Claim: These "foundations" are listed in such a way as to imply that they already exist. It says "some examples of foundations". It should say "some examples of what a foundation can be". This is done to mislead the reader into thinking that these Foundations are in place, and that there will be a huge amount of hype and activity surrounding the ICO.

Highlight: Some examples of foundations: -An international marketing company based in Sydney, Australia arranging human walking billboards in every major city in the world for a duration of 3 days at the beginning of the Bitcoin Black ICO. -A freelance designer contributing a set of graphics and branding material. -A flash mob in England to aim to break the biggest flash mob attendance to promote Bitcoin Black. -An ebay like marketplace bitcoinblack.market for local sale or purchased of all legal items. -A company in a juristiction where it is possible to get a banking licence to enable card issuing which will create and issue the Bitcoin Black card. -An online store specializing in Bitcoin Black items such as t-shirts, car stickers, cups and more which will be dropshipped worldwide at the lowest costs. -A gaming company to create Bitcoin Black related android and iOS games which will have Bitcoin Black as the games currency.

3df85f9da8b48fdbb029572aa78904ee
CryptoHunterCryptoHunter Reputation: 0
Status: Bounty Hunter
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Not sure if this helps in the diligence, but take a look at the Bitcoin Black Twitter feed: https://twitter.com/bitcoinbio

8a03d2bbaacd8b2eb53c3418652bbfa6
NodyNody Reputation: 103
Status: Bounty Hunter
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"Join the biggest wealth transfer in history" yes their tweets don't do much to build a case for credibility

8f0930e65c330c19049b23e5abee44fd
RayenPLKRayenPLK Reputation: 1
Status: Bounty Hunter
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I see what you mean, but all ICOs create hype just like every other product launch. So I don't think they're doing anything wrong on Twitter. Anyway, the only question here is whether or not the whitepaper stands up to diligence.

23760a7f516716ac66e302215248044b
THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
Status: Member
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Opinion #59: An opinion has been issued in Automatic Claim Number - cla1553159258.

It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 3% of the bounty and a median of 0% of the bounty.

Please see below for the opinion of the jury:
  • Opinion #1 - It seems plausible.
  • Opinion #2 - The claim does not directly address the quote. Never the less the quote is misleading.
  • Opinion #3 - I believe that there is a confusion in Bitcoin Black and Bitcoin. The whitepaper critiques Bitcoin and Bitcoin Black is separate from Bitcoin. In the claim, it seems like Bitcoin Black is speaking ill of itself when it is actually speaking about another crypto currency. No bounty is awarded

Claim: Bitcoin Black's intention is to be adopted for use as a p2p payment which gives the power back to the people.The statement is contradicting because; it states clearly that bitcoin is a payment system which gives power back to the people.Then further downwards, it is contradicted that bitcoin is in cycle which will discourage people from cryptocurrency. Hence the statement is misleading.

Highlight: Bitcoin is in a cycle which will discourage people from cryptocurrency and remove hope of cryptocurrency being an ecosystem for the people, making it seem like an enemy as the majority of people enter at the wrong time due to the media.

97588e547b934bde369f28591a438431
THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
Status: Member
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Opinion #60: An opinion has been issued in Automatic Claim Number - cla1553162003.

It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of 0% of the bounty.

Please see below for the opinion of the jury:
  • Opinion #1 - There is a Lot wrong with the quote from the whitepaper. But to address this specific claim: The claim isn't clear. The BH must make clear specifically why the quote is misleading. My opinion is that the BH is correct in making a claim, but has not articulated the claim clearly.
  • Opinion #2 - bitcoin isnt worthless because it can be used currently, so it could have been phrased better
  • Opinion #3 - The claim does not address the dangerous 50 attack

Claim: Bitcoin Black's intention is to be adopted for use as a p2p payment system which gives power back to people.A peer to peer payment system which is completely decentralized that gives power back to the people. Therefore, the statement that bitcoin is worthless, is misleading.

Highlight: Blockstream owns bitcoin and bitmain and affiliate mining pools control over 50% of the hashing power. These two facts make Bitcoin worthless.

e2cf622c960d80af6f588a578fb5527b
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