I have read tons of rage against this coin from Monero community(that accuse of scam every other coin to be honest), but still is unclear why someone claim scam. How can tell this? the fact was announced here years after the launch doesn't mean that was unfairly premined by developer, in addition with few USD you can buy more bytecoin than whatever other "promoted coin" you can hope to mine...
With just 1 USD I have bought more Bytecoin than what XMR or Ethereum i could earn in ten years of mining(and note that I'm follow these altcoins from a long time but unfortunately no way to mine much of them with home pc)... where is the unfair distribution of monetary base?? To me is way more unfair that few big corporate miners insta-pump the value and with tons of computational power provided from bot net and server farms get the control of most of the monetary base since the start and all the others have to pick up the little crumbs or pay a lot of "classic money" to get a hilarious percent of total theoretical monetary base.
I'm not even going to try and answer any or all of that, however, you can start
here and draw your own conclusions, much like all of us have long ago (And no, I am not a BCN holder, ever).
Thanks
Edit- BCN and XMR were and are distributed very differently, so it's like comparing rabbit shit to coffee beans IMO
I have already read the linked thread but doesn't proof unfairness of Bytecoin distribution and seems more than a coincidence that every time someone accuse Bytecoin of scam put always Monero name. Seems some promotional strategy to stole Bytecoin technology and grab success at expense of this coin.
The fact are the follow:
- We don't know who is Amin Juarez other developer and who hell own the many mined BCN,
- we don't know in the same way who hell own the most Monero too
- we know the name of who has forked bytecoin to create Monero, but this is a pretty useless information to determine the fairness of distribution
- currently most Bytecoin are already mined
- at this time Monero total supply is still far lower mined.
No doubt would be useful know how distributed is the monetary supply but the fact is that we don't know this
for none of these coins, premine and avoid premining but get the control of the mined coin with large amount of computational power far greater that the daily transaction needs for verification can both cause unfair distribution centralizing the supply in different ways but with same result and risks. So in terms of "fairness of distribution" could be equally both fair or both scam.
But grab an y% of the monetary supply for everyone of us is order of magnitude easier for Bytecoin than Monero, and both have the same supply limit.
So there is no rational reason to consider BCN unfair an XMR fair, I see only unfair accusation from people that have copy-pasted most of the code with a better promotional campaign to the people that bring us some new technology improvement to cryptocurrency world and this to me is sadly unfair.