Why I Sold My Bytecoin... BCN Will Most Likely Fail
There is something about penny stocks. It seems a lot of times, you can get lucky on what most people have written off as essentially junk. That's what I thought I might be able to do with Bytecoin.
After seeing the coin pop from ~.15 cents to almost 1.5 cents when all crypto was rising was encouraging. The thing is, it has fallen back to ~.43 cents on HitBTC. A seemingly popular user has also shown a lot of the BCN's infrastructure has already shut down. Some infrastructure like Bytecoin Party may have just opened but the real clincher for me is the new difficulty for mining BCN. It never went back down. At a steady 100 H/s it can still take a full 24 hours to mine just ten BCN. Before the pop, I could mine 100 BCN in 48 hours at a similar hash rate.
That issue along with the fact that the official BCN client freezes my computer very frequently for seconds and does not support combined CPU/GPU mining.
I do not see how a coin with the difficulty to reward ratio is appealing. Before getting hit by any trading fees my 1720 BCN are only worth 8.60.
Regardless, I'm cashing out. I suggest you do to.
The talk of massive coin failure will happen to coins just like BCN.
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