Where Bytecoin is Accepted Locally and Globally

BCN is the first-ever privacy coin, since its inception its been shrouded in anonymity and uncertainty. With its low fees and faster-than-bitcoin transaction times, it’s a functional commerce coin accepted by over 200 businesses, from Austrian Cannabis products to wu-wu South African health gurus.

Who Accepts Bytecoin

Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?

Should you buy Bytecoin?

As a hedge-against-inflation crypto? No. Because of a lack of development and its shoddy reputation, its price has languished below a dollar. The only conceivable reason I can come up with to buy Bytecoin is to transact with merchants that accept it, I don’t know if you could even buy drugs on the dark web with it as internet drug dealers probably want the more credible privacy coins. But you can pick up hundreds of BCN for the price of a coffee…

About

It’s often called a scam, when it was launched over 80% was pre-mined and allocated to its creators who are largely anonymous. Nobody really knows where the creators are, according to Linkedin they may be based in Tokyo, Slovenia, or Guatemala. It was delisted by the exchanges Binance and OKEX in 2018. It is however traded on a number of exchanges so you can anticipate it remaining liquid.

I’ll call Bytecoin a shitcoin because there does not appear to be active development done on the project, I’d rather hold and use the other privacy coins. This really looks like a get-rich-quick scheme for the developers who hold so much BCN that it couldn’t be considered decentralized. I also worry that badly managed cryptos like this will encourage financial regulators to ban privacy coins.

Bytecoin is the first cryptocurrency based on the CryptoNote technology with an open source code designed for anonymous cash settlement. BCN protects the user’s privacy with impassive and anonymous transactions.

from Wikipedia

Originally published on MarketplaceGOLD.com. I’m an independent researcher passionate about financial antifragility and economic philosophy, not a licensed financial adviser. This is not financial advice. Please practice skepticism and critical thinking.

Adventuring philosopher, Pompous pontificator, Writer, K-Selected Biohacker, Tantric husband, Raconteur & Smart Drug Dealer 🇺🇸