How shitty is it? - BITCOIN PLUS (XBC)

Whitepaper

I could not find a Whitepaper for Bitcoin Plus. But here is their website.

Who is behind it?

As it is with so many currencies, the developer of XBC is unknown. He disappeared after the ICO and was never to be seen again. Then a team of other developers took over and eventually suffered the same, horrible fate of abandoning a cryptocurrency project (This is irony in case it doesn't really come across).  In 2015 the project was completely relaunched, with only the name remaining the same. Holders of the "old" XBC were allowed to trade their "old" coins into new ones.  The current developers of the coin remain mostly anonymous.

What technology is it based on?

It is - as the name kinda gives away - based on BTC. It is different to BTC in respect to a 10x faster block time (more and cheaper transactions) and has TOR integrated, ensuring the privacy of the nodes and users. It also offers encrypted messaging. The network relied on POW (Proof-of-work) until Block 400.000, then it switched to Pos(Proof-of-Stake). Interestingly, there is a 20% inflaton built into the network, meaning that after hodling 1XBC for one year, you'll be left with 1.2XBC. The maximum number of coins is 1.000.000, of which 104.926 have been minted so far. The XBC project estimates to mint the last coin in 2030.

Does anybody really need it?

From what I can tell - no. The only real advantage over BTC are faster transactions, privacy and messaging. As it still relies on the pseudo-privacy of the BTC network (the meta data of the transactions is what gets you ususally, not the IP), basically only faster transactions and encrypted messaging are left. Which other coins with a much larger community and not so dubious background also provide.

So is it shit?

Well, it's not so much shit as it still is a working payment system with some good ideas. But that's kinda like saying the 96' Toyota Camry you bought from a shady guy in the bad part of town is a decent car. Yes it drives and maybe it even has heated seats, but you know the tech it is based on is really old in 2017. It also predictably won't rise much in value as there are millions of other cars that offer a similar package for the same price and at least a couple of new models offer VASTLY better tech and features for the same price.

TL/DR

Bitcoin Plus offers (in contrast to good ol' BTC) a TOR-network integration (whose utility is doubtful), encrypted messaging and a 10x larger block size. There are thousands of other currencies that serve the same purpose and have either a much clearer history or goal or better tech and features. Or both.

Verdict

On a scale from 1-10, I give Bitcoin Plus  a 2. Yes, it is pretty dubious and the tech boring to say the least. BUT - it is a working payment system with some nice touches. But yeah, it's shit.