Topic: Betacoin (Read 483 times)

Betacoin (BET) Currency Review (from Crypt.la)

Betacoin’s an example of a coin that’s doing all the right things. The coin has a handful of dedicated informational websites at Betaco.in and Betacoin.org. It’s available for trade on major exchanges including Cryptsy and Coins-E. It’s got its own infographics and blockchain explorers. And yet, it’s still not all that sexy or popular. My theory is that it’s just too similar to bitcoin.

Like bitcoin, betacoin’s a SHA-256 cryptocurrency, which lends itself to ASIC mining. That means it’ll probably never capture the computing power that bitcoin is utilizing, and it’ll always play second fiddle (or third or fiftieth). Overall, I don’t see much innovation here, and I’d probably bet on litecoin or primecoin instead.

At the time of this writing, betacoin has a market cap of $391,655 and an average daily trade volume around $1,000. That’s far from an active trading community. That said, things can change overnight in the altcoin community, and betacoin has enough of an infrastructure to handle rapid growth. The coin doesn’t excite me, but I wouldn’t rule it out yet either.

Betacoin’s main developer is working on transaction comments (something that was debated early on for bitcoin, but ultimately dropped). No word yet on when commenting will be functional.
Betacoin Price Target

NOTE: This price target is entirely speculative. It’s a hypothetical what-if, so take it with a grain of salt. Betacoin would be doing well in my mind to ever hit 1 percent of bitcoin’s current market cap of $8.7 billion. That would give betacoin a per-coin value of around $0.66 if there were as many betacoin as their are bitcoin today (12 million).