Bitcoin Silver

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ACTIVE SCAM ALERT Unfortunately, this site did not exist while Bitcoin Silver's ICO was happening. Do not purchase Bitcoin Silver from anyone, no matter how good of a deal they offer. There's very little meat on these bones (if any), and it looks extremely unlikely that users will ever see an investment--and that's the problem. Despite all their talk of "solving problems" (without outlining any solutions), the goal here is for them to raise money and make money, and users do that in the hopes of seeing a return. It's not about revolution; it's about turning a quick buck. For them. It will quickly become difficult, if not impossible, to relieve oneself of this scamcoin.
Avoid this cryptocurrency at all costs.
Bitcoin Silver (BTCS) is an unlaunched Ethereum Token with an alarmingly vague and unhelpful whitepaper, no clear plans or goals, and is a clear attempt to get in on the relative success of Bitcoin Gold. Full of typos and coming off like a powerpoint presentation that someone accidentally printed, Bitcoin Silver is an unreleased cryptocurrency that is trying very hard to sell itself. While most white papers present themselves as business-like, formal, professional, and technical, the Bitcoin Silver "whitepaper" is an advertising brochure with little to no value. Full of typing and a lot of talk about what they want to do without any suggestion of how they are going to do it, there is little positive to be said about this mess.

In Depth

Compare the Bitcoin Whitepaper to that of Bitcoin Silver's, and the problem is immediately obvious. In fact, the "whitepaper" is almost identical in style and scope to the website used by Hempcoin. Satoshi's Earth-shattering whitepaper contained charts, graphs, and drawings to show, in graphical form, the ideas that were represented in its pages. It is entirely black-and-white, and rather boring--as whitepapers are supposed to be.

This is a coin hoping to cash in on the popularity of Bitcoin, steal the legacy of its name, and borrow from the relative success of Bitcoin Gold. This was always inevitable, just as it was always inevitable that there would be thousands of clones of Tetris and Minecraft. Now Bitcoin has its name being borrowed by shoddy, inferior, and shady products.

Bitcoin Silver's whitepaper takes great care to lay out the problem (spoiler: the problem is basically that first world countries are richer than third world countries), and it even takes the bold steps of pointing out what will fix those problems. However, there is an enormous gap between "third world countries lack access to cryptocurrencies because they lack Internet access" and "third world countries now have access to cryptocurrencies." Not a word is written in this PowerPoint-Presentation-in-PDF-Form mess of bad grammar, missing commas, misspelled words, and cliches about how the identified problems will be solved. Critical omissions destroy any chance this coin had of being legitimate. Take this horrific and stupid passage:

The truth about extending cryptocurrency access and use to the rest of the world is that it does not end with developing a coin, but it goes much more further than that. It includes providing easy access to internet, smart phones/devices, conversion/exchange capability, and a trading marketplace. We currently provide cryptocurrency to traders in second to third world countries. Having local representatives and local governments on board to facilitate this change has proved incredibly beneficial as we take on this revolution. Providing access to us means education, mobile phones, use value, marketplace, smart wallets, and most of all realtime cryptocurrency conversion.

So how will Bitcoin Silver provide easy access to the Internet, smartphones, conversions, and trading markets? How will they get local representatives and governments to facilitate the change? How will they provide access to education, mobile phones, value, marketplace, smart wallets, and realtime cryptocurrency conversion? There is no name attached to this whitepaper (there wasn't a real name attached to Bitcoin's either, to be fair, but the ideas stood on their own merit), and apparently very little internal infrastructure.

Lies on their Website

The ICO ended on 22 November 2017. On 2 December 2017, the ICO Countdown had still not ended, having taken several days to countdown a few hours before suddenly adding another entire day back to it. This is deeply alarming, and should raise everyone's red flags, because the ICO has ended. It ended nearly two weeks ago. They have not removed their Ethereum address, they have not updated their Twitter or their Facebook, and they have responded to none of our attempts to reach out to them about this scamcoin.

Of these severely scam-like things, the most concerning is the behavior of their website's countdown to the end of the ICO, which actually ended on 22 November 2017. Despite being over, the countdown continues to countdown, occasionally resetting and jumping back up to higher hours. It's an abject trainwreck, and everyone should be well-advised to stay away. The timestamps on these images can be found on the Facebook Page of our Editor-In-Chief Aria DiMezzo, which can be found here: Aria Dimezzo's Facebook. These images, while most don't contain the date (the date, however, can be found on Aria's Facebook page as the upload date)anyone familiar with basic arithmetic can verify that the countdown must be manipulated.

Investigation Results

When you accidentally contradict your entire whitepaper before your ICO starts.
Utility: Unknown, Likely Nil

Stability: Extremely Low
Coinomi Support: No
Whitepaper Availability: Yes
Management Availability: Very Little
Birth: 16 October 2017
Death: Not Yet Alive
Scamcoin Likelihood: Extremely High
Shitcoin Likelihood: High

Verdict

On their website and in their whitepaper, Bitcoin Silver talks a lot about the lack of Internet access in third world countries, which obviously prevents widespread usage of cryptocurrencies. Not one single thing is said anywhere about how they plan to solve this problem, most likely because they have no idea how to do it and this is a scam meant to separate people from their money. The inactivity on their Twitter account is similarly a concern for a cryptocurrency that just ended its presale. One would expect at least a tweet thanking everyone who participated and announcing the end of the sale. When Airswap ended their ICO, their system stopped accepting Ethereum from people. I'm sure you can still send Ethereum to the address they give, though.

Indications are that they took people's money and ran. It doesn't seem likely that we'll hear another word from them.

5 December 2017

At approximately 10 AM CST, Bitcoin Silver on Twitter tweeted that if people had contributed Bitcoin, or not received their Ethereum Tokens, to email them. Unfortunately, no email address was provided, and their website was officially down. Many people replied that they had not received their tokens, and Bitcoin Silver appears to have made no attempt to rectify this, to provide an email address, or to explain why their site is down. This, of course, is after their website was repeatedly caught lying about the countdown and end of the ICO. We hope that people checked them out here, and refrained from sending them any Ethereum.

References

Bitcoin Silver Whitepaper
Bitcoin.com, "The White Paper is Dead"