PirateChain - the privacy focussed cryptocurrency

(miles_w) #1

I’m posting this here as it concerns a cryptocurrency, but has anyone heard of PirateChain?

https://piratechain.org/
https://twitter.com/PirateChain


I’m not familiar enough with crypto (not a trader or miner) but it looks like it’s pretty secure. I’m wondering if there’s some promotional possibility by doing a collaboration.

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(Andrew Downing) #2

It would be really nice if people could donate to PPAU using crypto currency, but there’s a slight dilemma, in that political party donations need to be declared - we have to know the source, but a privacy coin like this is explicitly designed to avoid that.

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(miles_w) #3

Well done $ARRR they’ve officially crowdfunded enough BTC to get a listing on Cryptobridge! https://twitter.com/PirateChain/status/1085790535309115392

I’m chatting to a couple of their community organisers about the possibility of a cross promotion. Their community is quite political and heavily pro privacy, so we have some interesting overlap :black_flag:

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#4

We should be careful carelessly partnering with an unestablished cryptocurrency. This could just be a scam/money-grab for all we know.

Their code and features just look like a hodge-podge of Zcash built on Komodo. They use z-addresses (zk-snarks from Zcash) with Equihash algorithm except built on Komodo using merged-mining by being hashed on Bitcoins network. This isn’t a big deal except it’s feels like one of those “build your own crypto currency!” apps.

They also mention “private send” however that term is ambiguous given other “Private Send” technologies, although I’ll give them credit for forcing privacy rather than making it optional.

To me this makes no sense, PirateChain will just rely on Zcash for all future research and improvements and they don’t solve the trusted set-up problem since they obviously don’t seem to be experts, that problem could destroy the whole currency and everyone’s privacy in the future.

And apparently your funds will be lost if you don’t migrate your funds until a certain date due to some new update, so if you’re not constantly up to date I’d be pissed.

All in all, they seem like a good bunch of people - but if we want to partner with a cryptocurrency, I’d only suggest Monero.

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