[BCN] Bytecoin. Secure, private, untraceable since 2012 - page 166.

Machman

newbie

Activity: 14

Merit: 0

Quote from: AtomicDoge on May 08, 2014, 08:50:00 AM

What I really like about this is awesome anonymity. Normally, when you post your public address, anyone can check all your incoming transactions even if they are hidden behind a ring signature. Cryptonote technology used in BCN provide unlinkable transactions.

Yeah, it's a big step forward.

Finger

full member

Activity: 259

Merit: 100

Quote from: owlcatz on October 13, 2016, 03:39:48 PM

Quote from: starmman on October 13, 2016, 03:08:47 PM

Quote from: paramind22 on October 12, 2016, 10:23:10 AM

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now? If you point any recent computer at minergate you can still get several bytecoins relatively quickly.

It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote

Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218, where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)

181.63 billion have already been mined, so that means there are only ~2.3 billion coins left. (LOL). Tongue

im mining bcn cpu on my old as fuck thinkcentre for lulz not for profit

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: starmman on October 13, 2016, 03:08:47 PM

Quote from: paramind22 on October 12, 2016, 10:23:10 AM

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now? If you point any recent computer at minergate you can still get several bytecoins relatively quickly.

It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote

Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218, where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)

181.63 billion have already been mined, so that means there are only ~2.3 billion coins left. (LOL). Tongue

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: paramind22 on October 12, 2016, 10:23:10 AM

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now? If you point any recent computer at minergate you can still get several bytecoins relatively quickly.

It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote

Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218, where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)

paramind22

hero member

Activity: 2730

Merit: 552

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now? If you point any recent computer at minergate you can still get several bytecoins relatively quickly.

Jayjay04

legendary

Activity: 1364

Merit: 1000

Good thing with dead coins... it can be pump anytime, you never know !

arielbit

legendary

Activity: 3416

Merit: 1059

dead?

if they like it, BCN devs can move to dashcoin, its their code .. if they see 500k DSH enticing enough plus 200 XMR bonus, i'm sure the community will still add to that funds.

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: ?? on ??

6436346346

sr. member

Activity: 355

Merit: 250

Nodes?

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: drawingthesun on October 08, 2016, 10:57:59 AM

Quote from: someone111 on October 04, 2016, 09:21:40 PM

Quote from: starmman on October 04, 2016, 04:38:37 PM

I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.

Yes, very much!

Will it even be possible to still do transactions after that time? I mean, if there will be no new blocks? And miners will probably disappear since there is no more reward.

On the other hand it would be deflationary. People loose access to their old coins. No new coins generated. So I guess there is a small chance worth will increase.

This is the big question with Bitcoin once the coinbase runs out, the idea is that there is enough incentive with fees for miners to continue.

Because if the miners do not continue, then you have a lot of hash power sitting around ready for a 51% attack.

If there are no more incentives for miners, the market will create an incentive, which will be double spends against exchanges.

Once one exchange gets hit with a loss from a double spend then good bye coin, it'll likely never be listed again.

I've been watching IXC for a while, - the last block was mined a few years ago and its still alive, although the current value is much lower than is has been over the previous years - living off merged mining as its a sidechain of BTC.

I think BCN may live in Poloniex as a speculative investment coin - so long as it can keep its volume and market share high enough. Maybe some kind of merged mining can keep the blockchain going if another coin jumps in and helps - given the marketcap of BCN - it may well be worth it for any of the smaller cryptonite coins who still have an active development team.

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: Tinfoilwhale on October 08, 2016, 10:49:42 AM

Smaller CryptoNight coins seems to be screwed by XMR big time now.

XDN is looking like this at the moment:

BCN market depth on Polo looks like this:

Meanwhile on Minergate X-MAN burning through 93 k/hs:

I wonder what he's going to do with all those 1.3 million BCN per day with this setup. 42 BTC to go, enjoy while it lasts I guess.

I must admit that I completely stopped mining BCN for XMR a while ago - the return is much higher. I'm still trading BCN - and the market cap is staying very stable - I would have expected it to have dropped to 7-8 sat by now - but its staying pretty resilient at 9-10. I've been wondering why that is?

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: someone111 on October 04, 2016, 09:21:40 PM

Quote from: starmman on October 04, 2016, 04:38:37 PM

I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.

Yes, very much!

Will it even be possible to still do transactions after that time? I mean, if there will be no new blocks? And miners will probably disappear since there is no more reward.

On the other hand it would be deflationary. People loose access to their old coins. No new coins generated. So I guess there is a small chance worth will increase.

This is the big question with Bitcoin once the coinbase runs out, the idea is that there is enough incentive with fees for miners to continue.

Because if the miners do not continue, then you have a lot of hash power sitting around ready for a 51% attack.

If there are no more incentives for miners, the market will create an incentive, which will be double spends against exchanges.

Once one exchange gets hit with a loss from a double spend then good bye coin, it'll likely never be listed again.

Tinfoilwhale

member

Activity: 78

Merit: 10

Smaller CryptoNight coins seems to be screwed by XMR big time now.

XDN is looking like this at the moment:

BCN market depth on Polo looks like this:

Meanwhile on Minergate X-MAN burning through 93 k/hs:

I wonder what he's going to do with all those 1.3 million BCN per day with this setup. 42 BTC to go, enjoy while it lasts I guess.

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: someone111 on October 04, 2016, 09:21:40 PM

Quote from: starmman on October 04, 2016, 04:38:37 PM

I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.

Yes, very much!

Will it even be possible to still do transactions after that time? I mean, if there will be no new blocks? And miners will probably disappear since there is no more reward.

On the other hand it would be deflationary. People loose access to their old coins. No new coins generated. So I guess there is a small chance worth will increase.

Quite intersrting, also the market cap seems pretty high right now for a dead coin - the number of buy and sell orders on polo are pretty high - volume is down on the other hand.

someone111

sr. member

Activity: 453

Merit: 250

Quote from: starmman on October 04, 2016, 04:38:37 PM

I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.

Yes, very much!

Will it even be possible to still do transactions after that time? I mean, if there will be no new blocks? And miners will probably disappear since there is no more reward.

On the other hand it would be deflationary. People loose access to their old coins. No new coins generated. So I guess there is a small chance worth will increase.

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: eeX on October 04, 2016, 03:34:47 PM

Very sad to say but you are right, guys.

Bytecoin is abandoned for sure.

Developers disappeared.
No any commits at Github for 3 months.
Ullo was not here since may, Rias since Feb.

No new wallets.
No new features.
No new docs.
No community support.

No good news at all.

Even forum @ bytecointalk is miserable and almost dead with an unmoderated spam, scam and porn.

Trades volume is very low and most of exchanges can delist BCN in the nearest future.

No exchanges - no pools - death.

Very soon.

BCN - no trust, no confidence, no future.

Sorry for bad news Sad

Value still seems pretty high on Poloniex - but volume has tailed off, and still pools are available right now such as minergate - although I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.

eeX

hero member

Activity: 961

Merit: 500

Soldo.IN [SLD]

Very sad to say but you are right, guys.

Bytecoin is abandoned for sure.

Developers disappeared.
No any commits at Github for 3 months.
Ullo was not here since may, Rias since Feb.

No new wallets.
No new features.
No new docs.
No community support.

No good news at all.

Even forum @ bytecointalk is miserable and almost dead with an unmoderated spam, scam and porn.

Trades volume is very low and most of exchanges can delist BCN in the nearest future.

No exchanges - no pools - death.

Very soon.

BCN - no trust, no confidence, no future.

Sorry for bad news Sad