My researches show, that BCN didn't have even a website before late 2013.
http://web.archive.org/web/20131113093900/http://bytecoin.org/Also the Git repository was not there before:
https://github.com/amjuarez/bytecoin/commits/master?page=2So this is very suspicious and should not be supported AT ALL.
Even IF they started 2012 they didn't let ANYONE participate, because they didn't go public.
But I doubt, that the coin existed so early. I think (as I already said
https://bitcointalksearch.org/topic/m.7425175), that they probably even faked the blockchain timing easily like this:
- they rented a bunch of computers
- set the time to 2012
- created a time changing script or something similar on all of their computers, so that the time passes faster
- started the coin in november 2013 secretly and mined it secretly for a few months
- then they announced the coin in february(?)
People are screaming about 1% premine which I can't really understand, because the programmers should have their coin, because otherwise they maybe won't support it enought. I am even fine with 5%. NEM takes 25%. It is still OK.
But 80% is just an impudence. And I can cry about the people supporting it to a market-cap of 10 million...
I was mining bytecoin and monero both in march. I just didn't know of the premine and didn't pay attention about "2012" at that time and was unsure, what to do.
I had a small computer and a big computer. The big one had about 4 times the hashrate of the small one.
As monero was said to be the second one I was mining bytecoin with the big one and monero with the small one.
I was mining 200000 BCN and about 65 XMR (I think it was about 2 weeks or something).
200000 * 0.00000010 = 0.02 BTC
65 * 0.004 = 0.26 BTC
(Prices at time of writing)
keep in mind, that:
- monero has about half of the market cap now (after the crash, before it was also about double)
- i used the 4 times faster cpu for BCN!
If BCN would have been "fair" with their launch, there would have been no monero, and I would have mined BCN alone and the marketcap would even be higher due to no FUD and so on.
So I probably lost AT LEAST 1 BTC (4*0.26 BTC - 0.02BTC) in that short time because of not being able to participate and mine the right shit. Thank you BCN.