Bytecoin (BCN) Becomes #1 in Volume and Gains on Binance and Ironically Crumbles Due to Network Congestion
Bytecoin (BCN) is currently the coin with highest volume on Binance which is the largest Cryptocurrency Exchange on the planet in terms of volume. The coin got listed on Binance less than 24 hours ago and the prices went up and up and up.
Many people are calling the coin a scam but I'd call it network congestion. Bytecoin really is Monero's Daddy and it is bound to share many problems. Having a low Tx/s is one of those features(bugs) of being a CryptoNight coin. Bytecoin (BCN) simply wasn't built for this.
Now when the prices are waaaay up and when the community members can't sell their coins they are calling the project a scam. Binance is having 7-10 times higher prices than other exchanges and this speaks to the greed inside the speculator.
[url=https://ibb.co/djFx4S][img]
There are solutions
Blaming on inferior tech that cannot handle big volumes isn't a one. Investing on good tech is certainly a solution. Understand that BCNhad more Tx volume than ETH and take a look at the DPOS performance.
There are many other projects with solid scaling plans. Only POW currency with such a plan is Dash. Out of Privacy coins it's just Dash and PIVX.
Next time be smart and put your money in a crypto that can actually handle its growth :P
Finally it's nice to see a post blaming the right thing; The technological incompetence. These stupid get rich quick speculators should just learn their lesson and focus on the projects that are actually working to scale and serve large groups of users instead of making up conspiracy theories and name callings.
These juvenile brats I see on Reddit are a bad representation of the crypto-sphere.
At least the real projects with real tech would win at the end. Thanks for coming over :)
I can't see the value in www.CoinMarketCap.com, check it out!
Go to https://coinmarketcap.com/currencies/bytecoin-bcn/#markets
It has the individual prices of different exchanges.
Exactly, thank you very much!
I hope this experience will force investors to look at crypto-currencies, which will be able to cope with a huge number of transactions.
After all what's the point if you can't make your crypto into a global payment option like VISA and PayPal.
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