Update: as a result of this post, the project owners have changed their website’s design, project name from Bitcoin White to Bitwhite, updated their promo video, and removed the team section from their site. We still believe the project is an exit scam and will continue to warn people against it until they show any technological advantages that aren’t already present in countless other projects.


Bitcoin White (BTW) is one of the newest crypto scams out there in the wild west of cryptocurrency. In case the website changed since this post was published, we’ve archived it here.

This fraud is getting a special mention because some BTW supporters contacted us wanting to pay us to promote it on our platform (and we have good reason to believe the contact originated from the team itself, and that the team, in large part, is in Croatia). We studied the project and noticed that it’s actually not just another Bitcoin scam-fork, but something else…

Scam Fork

A scam fork is a fork of a blockchain with the aim to use the original blockchain’s brand name to win over users and potentially cause vulnerabilities like Replay Attacks. For example, the Bitcoin Gold fork is a fork of Bitcoin’s blockchain which kept the Bitcoin name to get instant high-value for the tokens and many users on day 1 despite not actually offering any technical innovations or Replay Attack protection, as described in the article linked above. If the authors of this “innovative” blockchain came up with something the Bitcoin developers haven’t thought of and really do have something better, it would be in their best interest to start anew with both blockchain blocks and brand and build an honorable name for themselves. Otherwise, they’re just printing “free money” in the form of these digital fork dividends.

If Charlie Lee had thought of Litecoin in 2018, you can be sure it would be called “Bitcoin Lite”.

Bitcoin White isn’t actually a fork of Bitcoin, it really does start from a null block. In fact, Bitcoin White merely uses the Bitcoin name to pull in users while having nothing to do with Bitcoin at all. But it does have something to do with another project, as we’ll see later…

Analysis

Let’s look at the project up close.

Promo Video

The promo video is an obvious template video from a site like Videohive. Such templates allow customers to insert presentation slides in fixed placeholder positions, making the video look custom and unique. In this case, terminology which many associate with blockchain was inserted: byzantine fault tolerance (something every blockchain has), secure sandbox, dapp store, decentralized voting (something which sounds cool but makes no sense in the context), etc.

Many projects use such services because they lack specific knowledge or budgets to pull off truly unique videos, so they settle for putting “technology magic” terms into animations. Thus, on its own, the video isn’t an indicator of a scam, but it does lay some good foundations for our case.

Team

Every project’s team has to have respectable, reputable team members who have something to lose by being involved with the project. Real team members who care about the technology’s success don’t need to promote it if they really want to change the world. For example, Cardano’s founder is famous for saying that if he ever starts promoting the project, he’s been compromised and you should sell all ADA:

Bitcoin White’s team is all anonymous “members”, which is equivalent to an owner dressing up as 10 different people and calling the photo session a team.

Team

Taking into consideration the various typos (Goland instead of Golang, architector) and the “qualifications” of these team members, we can easily conclude that it’s nothing but a hasty fabrication.

Advantages & Secure

This section of the website is also a sea of typos and broken English. All we can conclude from this is that Bitcoin White plans to use “sidechain architecture” somehow – a technology not even real teams like Bitcoin Core devs or the Ethereum foundation have figured out yet. Other than a healthy dose of buzzwords (technobabble which sounds cool), nothing has been concretely explained and the other slides reveal nothing useful or insightful.

Slides

Apparently these were written to appeal to the average, technically illiterate investor.

WhitePaper

The WP is the most important part of any project’s presentation. It’s a document in which the founders explain why, how, and what is being done and how the project is different from the others like it. The BTW whitepaper can be found here or if they’ve taken it down in the meanwhile, we archived it here.

The WP uses broken English to explain blockchain in general and the possibilities and features this technology offers. But something else seems familiar about this paper…

The WP itself is actually a direct (and rather bad) copy of this one and others like ACC, MOC, ZPC and similar whitepaper clones with the same unattainable ideas. It’s obvious that the team “working” on Bitcoin White has no idea what they’re talking about and have to resort to cannibalizing other people’s work. They even follow the sections and concepts verbatim from the original.

Documentation

The docs are relatively poor, but also full of broken English and various punctuation mistakes. The whole text is obviously translated with Google Translate from original Chinese on the original page and then copied to Bitcoinwhite.org.

Docs copy

Docs copy

The copy is so obvious they even copied the MarkDown errors so the formatting breaks and shows the raw text instead of rendering properly.

Software

Although by now the scam is rather obvious, let’s check the software, too. If we compare the repositories of the projects, the Asch repository is far older and more active than the repo of Bitcoin White, which has only existed for 2 months and is little more than a direct copy with altered file names.

The team claims they have a wallet ready for Windows, Linux, and Android.

Wallet

Let’s test the Linux version.

Although the team behind Bitcoin White claims the Mac OS version isn’t ready, it’s obvious they took the code from someone else and don’t understand it enough to realize that it’s just a NodeJS (JavaScript) application, so it’s easy to run it on OS X, Windows, or Linux in almost exactly the same way. I’ll run it on a virtual machine on my OS X machine so that it remains isolated from the main system in case we’re dealing with a malware app which steals private keys or something similar.

After downloading the archive on their download page and following instructions, the wallet is initialized by running node index.js. Sadly, it looks like the team didn’t even bother with the most basic of functionality, so running the app results in an error:

Error: ENOENT: no such file or directory, open 'src/logs/debug.log'

Still, I wanted to see what they did accomplish so I fixed this error and tried again, which resulted in the following:

Blocks

The wallet downloads information from a singular IP: 46.105.68.73.

It appears that this IP address is actually equivalent to http://wallet.bitcoinwhite.org, only when accessed via IP it doesn’t serve content through HTTPS (SSL), but through HTTP – the less secure option.

The login interface is almost identical on Asch and BTW:

Wallet UI

Real blockchains never download all block data from a single server – that’s the very definition of a centralized system. If this process is allowed, though, the app will pull 200 by 200 blocks from the server until it reaches 500k or so.

Blocks

The same happens when you run the Asch project’s wallet. We haven’t tested further – the plagiarism is obvious. The interface does have some other features announced, like a BTC/ETH/Dash wallet, but whether or not those will ever be implemented is highly dubious.

Conclusion

Due to an obviously plagiarized WP, stolen software, copied and badly Google Translated website, as well as beating around the bush with buzzwords and terminology meant to confuse readers, a complete lack of a team (anonymous team members are not team members at all) and a near total absence of any kind of technological innovation, in addition to the cheap reuse of the Bitcoin name for an unrelated project and questionable marketing tactics, we’re fairly certain that proclaiming Bitcoin White a first degree scam is the right choice.

When asked about the plagiarism in their Telegram group (which has an impressive 23k members), we were promptly banned without any counter-arguments, which further reinforces our impression.

If you find an announcement about this project anywhere else, be sure that it’s been paid for and divert their attention to this article before more people lose their money to this fraud.


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95 COMMENTS

  1. It is stupid article that has nothing to do with reality – BTV is not a fork, it’s a coin with its own blockchain, generously gifted to all comers and existing solely because of its community. The author is an idiot.

    • The article says BTW is not a fork. It also says it has its own blockchain. You obviously didn’t read the post.

      • Hello Bruno thanks for your accusing article, let me clarify your wrong points on BTW Scam, in Open Source and copying-inspiration or plagiarism. I’m gonna be long, sorry for that 🙂

        1. Team already decided to change BTW’s name as BitWhite before your article cause community several time asked that not to use Bitcoin as a title on BTW. Because other people thought that BTW was a fork of BTC. Then community asked that to solve which misunderstanding. And a guy adviced to use BitWhite so do not embezzle

        2. With the new events(Bit-z voting, rebranding) and promoting on media, team already was working on new web design that contains even promotion video what you mentioned above cover letter before the article. So there is no relation between your writing and them. Please do not tout!

        3. By the beginning of your article with unfair mode you directly called BTW as scam! That’s just directing people with wrong way or your thoughts, not fair!

        4. Scam Fork… I see that you never said that “BTW is scam fork of BTC” yeah thanks. But you did another mistake on “scam fork of blockchain” cause you claim that Bitcoin Gold used same manner to attack BTC’s chain in a manner BTW uses!.. However BTW has more than this; Sidechain…
        While I was reading then I’d seen that you have no idea about sidechain. And you call it as a scam tech!.. According to your view “If ETH or BTC devs could not figure out that tech then others can not do it, so scam(!) fork”

        Really man your arguments are very funny and silly. Sorry…

        You may look up for sidechain by yourself:

        a- https://www.forbes.com/sites/shermanlee/2018/02/07/explaining-side-chains-the-next-breakthrough-in-blockchain/#12b9660052eb
        b- https://www.quora.com/What-exactly-are-sidechains-blockchain
        c- https://www.coindesk.com/sidechains-breakthrough-almost-everyone-bitcoin-missed/
        d- https://www.bitcoinmining.com/sidechains-explained/
        e- Google it do search more, pls man pls!!!

        Please be respectful before to accuse any!..

        5- Promotion Video… No matter what you used to present a video. Videohive or other place as a source! As I said your claims and points are really funny silly and addition so weak as others said!.. BTW team just used that effects to present people’s mind to make them get easier, BTW’s road map. And you call it as a scammish behavior! Fair? Nope…

        6- Team… You said that every project’s team was reputable! Satoshi is now yeah but at the beginning, he was?! You know answers but cover them with your verbalism!!! Even more you claim that “one man with different masks” have no any proof but just accusing!.. As I said your points are very funny, silly, weak and addition unjust comparing. Also, you simply compare unrelated projects with BTW then go to analyze… What the f*ck man?! Sorry Bruno sorry…

        Even you would able to mention team’s mask and anonymity without thinking that we are all on CRYPTO WORLD! Maybe Satoshi liked BTW’s team and way but lovely Mr. Bruno irritated. Why? We really do not know! Maybe, He wanna see face of them maybe. Would you like to see fake profile pictures on team section?! Or honest but masked anonymous guys preferable for you, which one? If you smart guy then answer is simple for you! Right…

        7- Some typos, broken English maybe important for you! Because you’re an English Teacher however community and investors never care that shit details. What I said? Your arguments are just funny…

        8- White Paper… As all skeleton of your Scam Alert is here! “Heey that’s COPY then Scam” Did you see that your fault on BTW?! You just simple look and call it as you wish, here is your blog and no matter if you lie or slandered!.. What a honest(!) guy. Anyway let’s come to topic.

        As you see-read other comments that all would show you BTW, ASCH, ETH, BTC, LTC and others are Open Source techs. That means you can use their material even White Papers, softwares what else as free as you wish. Due to Freedom of Open Source World… From A to Z you can use any material even without change it, that never makes any project scam. If would be all Linux distros called as scam even Unix based iOS, OSX etc.

        You missed the target BTW used ASCH, ASCH used LISK and LISK used another and another used bitshares all used DpoS algorithm and that list goes on… Why? Here is Open Source..

        Look at the your lovely ASCH and LISK’s explorers:

        https://explorer.lisk.io/
        http://aschd.org/

        Even you can do search ASCH-LISK and LISK-ARK similarities.
        a- https://www.reddit.com/r/Lisk/comments/7rhkeo/asch_serious_competitor_to_lisk_may_asch_surpass/
        b- https://www.reddit.com/r/Lisk/comments/6t6opo/lisk_vs_asch/
        c- And PLEASE Google it other project which related( COPIED/PLAGIARISM(!) ) another ones!..

        9- Docs, Software, Wallet etc… As I mentioned above Lisk and Asch have same Explorer. Lisk and ARK nearly same, so do we call them as scam in Open Source?! Of course NOOO! However your funny and weak article says scam, unfortunately! I do not wanna repeat that but for you that I’ll repeat one more time. You can use any Open Source material, tech, software even without any changing as you calimed in article’s pictures as scam(!) proof that belongs to BTW and ASCH comparing.

        10- If BTW team would like to scam then they could already do it before. Team even never pumped price never manipulated it. Real scam projects teams do that but BTW never did. If they wish to scam they could do when BTW hit to 0.9$ on exchange. However team is going on its way to achieve road map, negotiating with new exchanges, addind new team members etc. And you call all that effort as scam, is that fair and justice for you?! Ah bruno ah… People on community call you as “Bruno the FUDer” now because of that dirty words of you. Please clean your fault.

        BTC was scam, LTC was scam, ETH was scam and many projects which similiar/familiar/same ones called as scam. Now you see them where, and after all your blackening, BTW will going on its own way and then you’ll see and be ashamed!

        11- And you say that “BitWhite (previously Bitcoin White), exposing them as a 100% scam project.” You ahve no any proofs just claims but saying “100& scam”. What a fair!!! You have to be embarrassed after all ASCH-LISK-ARK facts. Will you excuse from BTW community with new article? We will see…

        *Please answer just that question below (do not care anymore what I write above)

        – What’s your problem with BitWhite/BTW? There are “real scams” out there with real scammish way but you just labor with BTW? 😀

        CONCLUSION:

        You just manipulated, influenced, misguided people with your ignorance/misinformation or intentional fallacy on BTW at here, via your article. Then you have to release a letter of apologizing for all that misinformations. Not only BTW community but also all crypto lovers.

        Be respectful before accusing any!
        Thanks for your time for reading.

        • Sigh. Ok. Here we go.

          1. No, they rebranded after my post. If they already planned it in advance they would have told me in chat instead of banning me. Regardless, the fact that they chose “Bitcoin” in their name originally is already suspicious.
          2. Same answer as 1.
          3. Because your project is a scam, yes. Once you prove you are not a scam, I will change that intro.
          4. BTW does not have sidechains because it does not have any technology at all, other than what it copied. I know very well what sidechains are. Just because BTW says they have them does not mean they have any working product of any type, especially since ALL THE DATA is being pulled from ONE IP ADDRESS when you load the client (see screenshots in post). My MySQL database is more distributed than that.
          5. If you read the post, but REALLY read it, you’ll see that I clearly state that a bad template video DOES NOT make a project a scam, but is a GOOD INDICATOR. And yes, it is a good indicator because generally people who actually create good things and good technology do not need scammy template videos to sell their work. Their technology is proof enough. BTW has no technology.
          6. I never said every project’s team is reputable, and comparing your masked vigilante with Satoshi is an insult to the whole crypto community. I don’t understand the rest of your comment on this point, but this is an issue that is very easy to fix: either present technology that isn’t copy pasted as proof that your developers actually exist, OR reveal the team and their work history. I’ve said this many times – you can easily defeat me. Just prove me wrong.
          7. Yes, good English is very important to me because it shows that the team cares about their project enough to either learn English, or hired someone to write it for them. This team not only didn’t do either, it also copy pasted google-translated Chinese from another project. This project is a scam.
          8. Like I said on Twitter, just because other people got away with murder, does not mean you’re allowed to kill. You’re still a scam, even if you’re based on another scam, ESPECIALLY if you copied the source, pretended you’re original, and then accused another project of copying you (in Telegram, you told me that Asch copied BTW, which is a flat out lie).
          9. Same answer as 8, only adding – no, you cannot use their website’s content, and you cannot use their docs without attribution.
          10. All exit scams have an exit point. That is why they are called exit scams. $0.9 was not that point because the market cap was too small. The team obviously believes they can get more people to buy and pump the price further before they need to exit. It costs them literally nothing. They are not adding new team members or new technology, and no legit exchanges will ever add BTW. All they are doing is adding lies (US Treasury and GFG Dubai: https://steemit.com/cryptocurrency/@swader/scam-alert-bitcoin-white-bitwhite)
          11. The proof is in the posts.

          My problem with BTW is that BTW’s members ASKED ME to promote them. I generally ignore scams because there are too many, but when you try to ask ME to promote a scam, that’s when I go into war mode. And that is the problem I have with BTW.

          • Why don’t mention ASCH-LISK-ARK relations even bitshares and DpoS Algorithm, used same sources? That man is really demagog and chatty. And as he or she said that yeah you have problem with BTW. No anymore talking with you. Silly and weak and “funny” arguments. Ah ha ahah!

            Thanks you BTW member, I see another point on that pseudo scam story now.
            Really thanks did not know ASCK-LISK-ARK relations. THANK YOU

          • You do realize I can see your IPs, right? I see you’re all the same person, you don’t have to keep switching accounts.

          • article is based on illiteracy that I saw. all these thesis never rationalize what if there is scam or not.

  2. Very ignorant writing… Who wrote that long silly thing?!

    BTW team from beginning to now working hard! If thet scam then should go away before. Really calumny pseudo article! BTW is now getting better day by day. Who are you, jealous guy 🙂

    Anyway BTW dev and community is great together. Your arguments are very silly and weak ahahah 🙂

      • hi,
        I’ve read all writings even comments one by one. And result that I see article is biased for negativeness. There is no remarkable point on scam cause only inspiration and reuse is here that claimed as scam. Whereas, there is no any copy term in open source community. You can reuse, branch, vanilla any source as free. Even one of most top free license is MIT then no need to attribution to original content fo ant any material docs and white paper included to this.

        I’d not knew that Asch even, just knew LISK and Ark and after that discussion that I saw all these are mix of them as natural, all of them open source contents though.

        That content is not an objective nor neutral content. Smelling some like biased for hating. Right?

        • > And result that I see article is biased for negativeness.

          What should a scam report be “biased” for? Positiveness?

          You are simply repeating things others have already said, which are not true.

          • He’s my friend and I gave him your article’s link to read it. I got what he mentioned. You are conditioned that btw as scam. However for neutral and objectiveness you had given only arguments. But your article statrs with “btw is scam” so that is not a logic way for analyzing any kind of project. Never mind no need to dispute that article.

            thanks for your a house of cards on hostile scam alert.

          • I don’t know what you’re trying to say, but probably because you’re all the same person, so it’s all the same broken English. Yes, my post starts with BTW is a scam, because the conclusion of the post is that IT IS A SCAM. If the project proves that it is NOT a scam, then the post will NO LONGER say it is a scam. See how simple it is to defeat me? Just prove me wrong, instead of pretending like you’re 1000 different people and arguing in the comments.

  3. How BTW team scam people? There is no ICO now, there is no any selling thing? If they would scam then tou could not see any website, devoloping road map any Telegram groups of it!.. In very soon, BTW will be backend valuable stuff. There is no so much coin/tokens backend with valuable material.

    Think again project could be similiar but that NEO/ETH… That dosent mean it’s scam 🙂

    Very weak and poor topics are there sorry guy…

      • I’m the early investor of Asch, I can tell you Asch copy Lisk a lot. You can even find Lisk logo in Asch source code in the early days. So what? Asch is still awesome project. So BTW used ASCH and then BTW is solid and great!

        • > I’m the early investor of Asch

          No, you’re not. You’re forgetting I can see the IP of every commenter.

  4. Oh my God… Who told you that BTW is a fork?! 😀 No fork is there! Onlt ascription to BTC like a motto ” Best part of BTC and ETH so BTW”

    Heh eheh hehe 😀 Please man do Englih teaching before analyzing! All projects looks each other now that dosen’t mean there is scam! BTW’s ICO had been done several weeks ago and team is already there.

    Project growing up with new features. Wait news of BTW it will backend with goldish material soon. Do you know another coin that backened with that type of worthy material?

    I think that you will have to excuse from BTW community soon. BTW is based on DpoS so team is only a tool, community&delegates are governing BTW.

    Learn some thing before the compare 😉

      • And were you able to prove that its a scam? Why would your write FUD’ualent statements when you are have not proven that it is not a scam? I been following this project for months and you have just heard it yesterday. Do some more research not just basing because you see the Devs are in mask and because you got banned from the Telegram. This project has just started and a lot of pieces are moving.

        Watch out BTW in the coming days. And Bruno, you are an virtual b!tch who talks yourself without strong basis.

        • Again, if all you can do to defend the project is insult me, then you’re just proving my point. Yes, I have proven they are a scam. This post is proof. Prove me wrong and I’ll admit I was wrong.

    • FUD for the sake of market manipulation is one thing, and I’m not interested in that. FUD for the sake of making people aware of a scam is something I am trying to do, yes.

  5. Dear Bruno, very nice article. Can you provide proof that anyone contacted Bitfalls for support. For example Universa also pays for articles. Are thay also scam? Now we have times that if you dont pay noone will promotye you, unless you have well known brand, then you can have article without paying because it will promo website. I think open source code can be used by anyone? Sorry for my english it’s not my national lenguage.

    • I can provide proof, yes. The person who contacted me is a reader of this site so I’ll give them some time to come forward if they wish, if that’s fine.

      • No problem, time will tell, but as master of computer sicience you should know that in IT using someone else scripts, codes is normal. I hope that this projest devs proof that you are wrong in your judgement. And after you will put this project in different light.

        • Of course it’s normal to reuse open source code. But it’s not normal do copy it directly with almost no changes, use another popular project’s name just to get users, and it’s definitely not normal to steal the whole website, design, and whitepaper, and then pretend it’s original.

  6. Bruno, you’re an ill informed idiot. Your arguments are stupid. I don’t think you understand what open source stands for, I believe you have a degree in English (useless by the way) so I imagine the spelling mistakes and poor grammar in the BTW white paper upset you, but you’re obviously too stupid to see the true potential of BTW. If a new project uses open source code as a basis for their project to expand and innovate on it’s not a scam it’s called progression it’s building on the shoulders of Giants for greater things, that’s the beauty of open source code. If you have  done your research on this project you’d come across their fantastic fully functional wallet, yes parts of it doesn’t  work (  but it’s a work in progress, only recently started with a big ambitious road ahead of it) so don’t be  soo harsh and ignorant. Using the word scam on a project you half researched is not clever. The smartest thing you could do is invest in BTW now as in the next year when the true potential of this BTW is realised, this article will be  sent around the world to demonstrate how supposedly  educated people don’t understand how Cypto projects like BTW will change the world as we know it

    • Spelling mistakes and poor grammar are one thing, copying the exact same WP content from someone else who originally made it with Google Translate from a Chinese original paper is something else entirely. I gave the owners a chance to explain their copying of Asch’s WP, code, website, and ideas, but they banned me from chat, thus further proving my point. If insults are the only way you can defend the project, then you’re just proving my point.

      • You just commented that you can create a token in 30 minutes, I’m highly doubtful about that. It seems that this is a false claim so you are now in fact a liar, I can now discredit you as liar who claims he can create a token in 30 minutes.

        It’s very easy for you to look at a website and call it a scam but next article you write do your homework as this is far from a scam. If it was a scam then it wouldn’t airdrop half of it’s tokens all across the world with the majority going to Africa and other nations to help spread the wealth of Crypto and make a positive difference in the world. White papers are only a very small part of a crypto currency so stop focusing on that and look at the actual technology behind BTW, have you even bothered to use their webwallet it’s fantastic and is fully functioning

        • Literally everything they did, including the website, any “technology” they “developed” and all the whitepaper content they “wrote” can be done in 30 minutes. Yes, I can make a token in 30 minutes, and so can everyone else.

  7. Dear Bruno, why do you call this scam project? They gave 30 million tokens to thousands of people and made a small ICO with 10 cents starting price. Do you think the team will sell all its coins and run away with the money?

  8. Mr. Bruno, If I may agree with what you wrote about BTW, but failed to mentioned that 50% of the coin was airdropped. Which means majority of the current holders got it for free, and that is the large portion of BTW in circulation now.

      • i think he want to proof the team working hard to build community if they want to take profit and run they will drop their coin in the market and disappear

  9. What a poor practice of journalism in my opinion, oh gosh I wrote down my opinion, am I journalist too now? What do you think Bruno, am I a journalist now in your opinion? Because you use a lot of opinion and present your personal thoughts as facts. Where are the facts? I read a lot “I Think” in your article and your comments. Another thing I worried about are your lack of investigation skills, you enter somebody house and making accusations and statements, and then get surprised you got kicked out. If you come to my house like that you will get kicked out too. If you are a professional and invite me too have a conversation about your story then your my guest and we can have a chat like adults.
    Your comments and statements also show me you have not even a simple clue about crypto and bitcoin. Fact is bitcoin and blockchain codes are open source. Satoshi Nakamoto, the most anonymous and brilliant person on earth, gave his whitepaper to the world for it to implement and improve it. It’s the revolution of IOT where we share with the crowd, it goes against the institutions where they want to protect and control everything.
    You referring to ADA not boosting price, well i haven’t seen any dev’s of BTW talking about prices or speculation. They working hard on their tech. If you can use ADA to make an example, i can use TRX as an example. What you think about TRX original whitepaper, they copied it also, but is TRX a scam? No! Are they working hard on their tech? Yes. Time will learn about TRX, ADA or BTW. But to call something a scam because of some poor arguments is a little shortsighted don’t you think? What else you been talking about? Website layout? You ever heard of Templates?
    I think that you are just trying to make a lot of drama to gain traffic to your website so people click your adds and your referral links, which are all over your website. The only one who is trying to make money out of fake practices is you Bruno.
    Let me give you an advise, find another hobby because you complete missing the point buddy.

      • Small offtopic. Biggest scammers are banks manipulating markets, people should back to barter deals. For me at this moment is better take a risk and buy BTW than Apple or Amazon shares. Anyway, one day everything will finish at the same level of value 🙂

        • No doubt banks are the worst. But I can’t fight banks, so I’m fighting scams before they become as big as banks.

  10. What you feel bruno after that FANTASTIC first event NEWS? Lets know please 🙂

    BTW community ! Intermediate news. 01.03.18
    ————————————————————
    Dear friends, we are happy to congratulate you all! BTW is the first and only crypto community in the world, that is backed by the treasury of the United States of America. Also for the first time in the history of the blockchain industry the deal with the help of a crypto currency was made for acquisition of government securities.

    The transaction was successfully closed, and actually the work is being done to create and test the platform, where each holder of BTW will have an opportunity to invest his funds in the USA security papers and other security papers. The deal is valued to $ 16,984,600 or the equivalent of BTW 3,260,000 (at the rate of $ 5.21 / BTW).

    Current IBOE package specification:
    • Name: International Bill of Exchange, IBOE
    • Nominal cost: $ 100,000,000 (one hundred million US dollars)
    • Issuer: the USA Treasury
    • IBOE No.: 2048
    • Registration number: UCC1-2009-2374894.152.
    • Derivative number: 2009-2374894-38 (number of the registration file of the derivative financial instrument)
    • File registration number by the USA Treasury: RC001182260US
    • Serial No.: 2048
    • Verification: UCC1 Register – 2009-2374894.152 (Kentucky)
    • Maturity Date: April 5, 2020 (prolongation is possible upon agreement)

    IBOE – International Bill of Exchange issued by the US Treasury

    Basic definitions, rights and features of the application

    The payer of the International Note is the Treasury of the United States of America itself or the subject authorized by the US Treasury.

    Significantly, the Bill of Exchange is equivalent to the US dollar banknotes: it is a legal tender, and can be used as a reserve currency for issuing banknotes of other countries. It differs in this case only in that the issuer will not act directly as the Bank of the Federal Reserve System.

    IBOE is a legal tender of the US Treasury, issued directly by the US Treasury, the security of such an International Bond is guaranteed by the US Government’s Gold Reserve according to the US Constitution.

    According to the constitutional law of the United States, in the sphere of control by the US Treasury, payment is made upon presentation of the IBOE on the first demand, without any protest from the payer.

    The US Treasury Department, like the Federal Reserve Bank, has many functions to serve the interests of the US Government, as well as other institutional and private clients.

    In both cases, these institutional and / or private clients can open an account upon request, reserving the right to issue securities / checks on the basis of the security of the respective accounts.

    IBOE was issued by the Secretary of the US Treasury, as in the similar case
    occurs with the Federal Reserve when issuing securities or checks. In both cases, the specified payment obligations such as IBOE do not have restrictions on commercial use, nor conditions, as it would be with other bank securities.

    Released IBOE is an ideal tool for monetization of any project with maximal flexibility for assignment of property rights through digital currencies.

      • Did you saw documents?! Developers released them. Some papers/bonds that belongs to 2016 year are bought by BTW. That’s first time happened 🙂 Change your mind Bruno…

          • New ANN about IBOE, could you see the signal 🙂

            *
            The bill of IBOE.
            Someday Satoshi Nakamoto wrote: “I really wanted to find some way to send a short message, give a signal, but the problem is that the whole world would see it.” Those, who understand what opportunities become possible using documents such as IBOE bills, will guess what exactly happened, and what we are trying to make. At this moment, we will be short, and without further ado just say bureaucratic words: “All information is confidential, we have no right to disclose it, we have to remove all published personal data from official sources.”

            We will keep you informed about our progress in this matter.
            *

          • Yes. Btw, I’m going to Mars very soon so I won’t be able to reply for a while.

            Do you trust me just because I said it?

  11. I am a BTW holder of only about 1k coins, but I felt the need to write something. It almost feels as if you have a bone to pick with BTW. One thing I notice immediately upon reading your post COMPLETELY was that you constantly refer to archived content and accuse the team of running scam when they change things. Please explain how this comes off “scammish” that’s like complaining that a student copied off someone’s answers during a quiz, then complain again when they ace the quiz on their own. It just seems like the team can not do right in your eyes not matter what they do. Please keep in mind that I am not accusing you of purposely delivering false information. Instead, I am asking you to possible make another attempt to reach out to the them, because as you put it “if all you can do to” attack “the project is insult “them”, then you’re just proving “the BTW community’s” point. This isn’t an attack on you directly, this is an expression of concern, because it feels as if this article can directly influence the price of BTW while it is still in its starting phase.

    • Thank you for taking the time to read the post and comment! I do have a bone to pick with them, but that’s the same bone I pick with all scammers. I want them imprisoned so that our ecosystem is purged of projects that harm the cryptocurrency landscapce as a whole.

      I refer to archived content as evidence. The original software is licensed under MIT, yet BTW took it verbatim and changed the license to GNU, something which is not allowed, or in the spirit of open source. Furthermore, they took other people’s written content – something NOT open source or licensed as such – and copied it directly, passing it off as their own for months. This, too, is not in the spirit of open source, innovation, or fairness.

      If the team had learned from someone else’s work and done anything original, then I’d be willing to look at them again. But my attempts to reach out to the team have resulted in a ban and in insults and ad hominem attacks respectively. They are not interested in a discussion. Their fraudulent claim of being backed by GFG and US Treasury only further prove my point.

      I do not feel like I am insulting the project baselessly. I have delivered proof of their scam. It is up to them to prove otherwise, and something like that is very easy to do. But do you know what they claimed in chat before they banned me? That ASCH copied *them*. These are not the words of people who play fair.

  12. Umm…

    I’ve read the article and all comments. Indeed that article is based on ignorance, sorry Bruno. I think that you really do not know that open source philosophy. Even any project can be reused, remixed as same as source with as White Paper, Web Site structure or what else you mentioned above. All that statements never make that any project as scam.

    Your main point is weak as other commentors said. You looked at the exterior side of BTW then called it as scam but on the other side “interior” facts tell us project is very hard solid with its Dev Team and the Community.

    Scam, fraud are guilt and sin as much as lying slander. After that issue you may excuse all BTW team.

  13. MIT license does not allow?! Ohh hoo hoo hoo ho ho 🙂 ignorance rain here. And that called BTW as scam aksdjhaksdhaksjdh 😀 I do not care anymore you silly and ignorant guy. Hahaaha hahaha hahaa MIT is most free one. Hahahaha 😀

      • Why you referred other website? Migrating from MIT to GPL is completely legal, Bruno 🙂

        https://softwareengineering.stackexchange.com/questions/105912/can-you-change-code-distributed-under-the-mit-license-and-re-distribute-it-unde

        ———————

        * Yes. You can change MIT to GPL/GNU

        The MIT license includes all the rights the GPL gives and more. And while people who receive your distribution only receive a GPL license to elements you added, they still receive an MIT license (from the original authors, not from you) to any elements contained in the work that the authors offered under that license.

        They may not know this, and so far as I know, no law obligates you to tell them. But if they “violate” the GPL license with respect to protectable expression contained in the work that you did not author (or that wasn’t contributed by others to the GPL-only release), they have not violated your license or your copyright. (Actually, that should be rather obvious — you only hold copyright to expression you authored.)

        So you haven’t converted any copyrightable elements from the MIT license to the GPL license. You’ve simply added new ones which are only offered under the GPL license and released the elements in a mixed/combined work.

        ————-

        So you just busted Bruno with your weak arguments. And just blacken a huge community coin with your misinformations and fake news. Very shameful…

        Do you APOLOGIZE them? After your article I’d bought xk amount BTW 🙂

        Thanks for promoting 😀

        • Did you actually read the answer you linked to, Mr. White? Your project is clearly in violation of the MIT licence of the original software. But even if it wasn’t, your developers claimed that Asch copied BTW, which is a very blatant lie.

          • So your all blatant FUD on that developers did not mentioned about BTW which is an Asch derivative? Really all that FUD article because of this missing detail?

            Then contact BTW team via info@bitcoinwhite.org . After correction on missing points then remove your lie based and FUDish article here. Deal? 🙂

            Your ideas worse than any scam. Yeah scam is awful thing but also your FUD! No difference between them!!!

  14. bruno,
    im never see u on 2009 ~ 2014 where are u in this time????

    bruno, you think how bitcoin starts ??? and u know the bitcoin website changes more 5x in decades of 10 years with team development in history,

    and what u think when bitcoin get scam by offer is made at 100btc / 10USD at paypal??

    long ago 2009 ~ 2010, I saw the first community group trying to defend BTC holders from extreme groups that propose various reasons and insights to prove their assumptions about bitcoin are frauds, with their views and research is more better from your arguments.

    I am not a BTW holder but I see them trying to move in their own way in dealing with their weaknesses to become a group that makes history itself.

    I find weaknesses and disadvantages in their Whitepaper, but to say they “A fork scam is a fork of blockchain with the intention of using the original blockchain” it seems to be a weak argument as you are not involved in their delegates and you have never been involved in developing their blockchain system ,

    I initially consider BTW to use ripple or waves or Nem support for their wallet and blockchain core restructuring before they change according to the molds with their own system’s cultivation,

    BTW the last block height today is 484668
    tell to me what the last block height in folk???

    • I’m sorry, I don’t understand what you’re trying to say.
      From 2009 to 2014 I was not active in the crypto community.

  15. Lol! The dev team is really lashing out at you for exposing them. It’s really funny that they do not even attempt to make coherent sense in their counter arguments. Saw this on Buttcoin lmao. Also Don’t forget about those mysterious skills that Mr. White has 😉

    • No need to counter arguments cause Bruno’s arguments are only trash!

      If Bruno had written that article before the ICO then I could say that “Hey what’s going on? Another scam is there?!”

      However all ICO had been completed that I’ve seen. Then BTW team is stil continue to add new features to own block-chain. DAO module and delegate consensus update are given as examples. Recently they conveyed iOS app and just waiting listing on AppStore. This team is on scam?! Ahh no…

      Ask that question yourself.
      “Why an attempt on that scam project still going on with new features what according to its road map?”

      Yeah…

      After that article I’d find out so many new informations like licensing and migarting. And now see that BTW is solid as much as BTC, ETH, LTC, ASCH :). Bruno thanks for your afford to illuminate us, however your claim is looks like just a jealous guy’s activity. I’ll follow BTW’s developing cycle cause I’d add that new coin into my portfolio 🙂

      Really strange and ironic after that article that I saw BTW. Chi chi chi 🙂

        • You’re just telling “Okay”? Is that enough to recover for blackening a huge project and community?!

          You are jealous guy then! After all truth appears but still that silly article here! Yeah we are all “Mr. White” that community 😉

          • What else would you like me to say? Prove you’re not a scam instead of fighting in the comments and you’ve solved the problem, I’ll disappear in shame.

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