Most popular question in Bytecoin (BCN) circles: “Is it dead yet”?

While all the legit projects regularly update their users with newest upgrades and features added to their blockchains, Bytecoin is on a different planet. The holders are finally waking up to the cruel reality – they are stuck with bags of worthless coins that keep losing their value on their trajectory to the inevitable graveyard of shitcoins.

bcn dead

As I wrote earlier, BCN has nothing going for them. In spite of the team finally showing some pulse and releasing a roadmap update, the wind is sucked out of these sails long time ago.

Of course, the dev team will try and convince you otherwise, but only with their words not really with their deeds.

If you would have bet on the right coins this year you could easily have 10xed your capital…

You could even have made as much as 100x which means you could have turned $100 into as much as 10k.
Experts believe this will happen again in 2021, the only question is which coin do you bet on?
My friend and cryptocurrency expert Dirk is personally betting on 3 under-the-radar cryptocurrencies for huge ROI in 2021..
Click here to learn what these coins are (watch till the end of the presentation).

Doesn’t fill you with confidence reading that tweet, does it? Potential, hope, make it better – vague terms with no clear definition on what they mean and what is team working on, if anything.

Bytecoin is nowhere near atoning for their previous transgressions. The market made them aware of this pretty clearly, as the coin is down more than 96% from its ATH’s. The Binance listing fiasco is on everyone’s minds and these casual updates probably won’t change that very much. Their “accessible to home mining” mantra has also failed as Bytecoin is being run into the ground by Bitmain and its ASIC miners. With all that, our previous judgment on Bytecoin remains unchanged.

From my previous post …

Bytecoin was a scam all along

According to Monero`s lead developer Riccardo Spagni:

The reality is that 82% of the coins were already mined before its ’public’ release. Even if the premined coins weren’t done so maliciously, it still means 82% of the coins in the hands of persons unknown and invisible. It basically centralizes a decentralized currency.

82% is a huge number of coins to be premined and gives the developers and stakeholders the opportunity to influence the price of BCN solely with their holdings. What is more, this opens the possibility of a “pump and dump”, meaning that the premined Bytecoins can be dumped on the market which, in turn, would cause the price to drop significantly.

Even if you take the fact that Monero is clearly leading the innovation race, I would think it dangerous to touch a coin where 82% of it is held by unknown actors who were not publicly observed during the period where they supposedly mined the coin. Having a shady history does not set a good precedent.”  –Spagni also says.

Another concerning fact about Bytecoin is that is has been on the market for so long and yet, very little is known about its developers. Even in the official website of the currency, you can only find pictures and first names with no detailed information.

Will BCN have any use in the future?

Let this post answer that question:

The only reasonable and sane use for bytecoin is to create a paper wallet for each and every bcn you own, properly stitch them together in portrait mode and email it to a company that will create hundreds of rolls of toilet paper out of these paper wallets.

This at the moment pretty much defined the proper and every day use of Bytecoin.

/* Mic drop.

 

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Damian Booker

First thing to know about Damian is - he HATES shitcoins and has declared a war on them! Damian is a bitcoin hodler since early 2013. He used to mine Ethereum back in the day as well. Nowadays he likes to discuss bitcoin and its potential influence on the society organisation and governance. Damian hates fraudulent projects and his mission is to shed light on the maggoty scammers that have invaded the crypto space with their zero-value projects.

2 Comments
  1. You used 96% down in price as an argument for why Bytecoin is a garbage coin. What alt coin didn’t go down 96% in value?

    You can’t be anything another other than a manipulative weasel to have written such a sentence.

    • Reply
      Rodrigo Garreton April 9, 2019 at 22:45

      es simple ROBERT yo como fuerte inversor SALI CORRIENDO DE BCN prometiendo jamas volver a apostar a la basura de “token”, tiene una historia oscura y un equipo que lo unico que da es lastima, jamas resucitara

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