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Bytecoin (BCN): Is BCN A Fairly Good Investment?
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Bytecoin (BCN): Is BCN A Fairly Good Investment?

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The beginning of December of the current year of 2017 was pretty encouraging for many cryptocurrencies out there, which also included Bytecoin. Bytecoin is a digital currency present on the market for five years already. Ever since it was launched back in 2012, this digital currency gained on popularity inside of Bytecoin communities thanks to the revolutionary use of CryptoNote technology. Now, this currency has a net worth of over 982 million dollars with 184 billion coins in use, which says a lot about its popularity and potential when it comes to investing. But, how does Bytecoin uses CryptoNote and what makes it as revolutionary? And, is it worthy of investing?

CryptoNote and Everything you need to Know about it

To be able to explain the revolution of Bytecoin to all of those who are not as informed when it comes to CryptoNote, we first need to start from basics. What is CryptoNote anyways and why is it so unique?

CryptoNote is a technology that supports layer application that enables all users of digital currencies like Bytecoin to have all of their transactions privately processed. You might think: well, all cryptocurrency transactions are private, what is so revolutionary about it?

Yes, in a way, all transactions are private, but there is a difference between the way Bitcoin is operating and the way Bytecoin is operating through CryptoNote. While Bitcoin transactions are secret in the sense that there is no third party involved between the two sides performing transaction so only two parties are in charge, following blockchains, all transactions done through the chains are traceable and can be traced back to the two sides that are using blockchains and Bitcoins for their transactions. They have their privacy but if someone who knows what to do could easily trace these transactions through blockchains.

The case is a bit different for digital currencies using CryptoNote like Bytecoin is. When performing transactions with Bytecoin, just as with Bitcoin, all transactions are solely executed between two parties with the complete absence of a third party, but unlike with Bitcoin, transactions processed with Bytecoin and through CryptoNote cannot be traced. That means that Bytecoin transactions are entirely private and untraceable. This case scenario makes Bytecoin one of the most private digital currencies, setting standards for decentralized platforms.

Bytecoin’s Value

Bytecoin have had an amazingly expected boost when it comes to its value as this digital currency experienced an increase that went up to 375% at the beginning of December 2017, but just as the majority of digital currencies that suddenly dropped with prices, so did Bytecoin. Bitcoin wasn’t spared either, so its value went from 22.000 dollars per coin to 10.000$ per one unit. Given that Bytecoin is still a relatively small digital currency when compared with Bitcoin, and although its net worth is reaching almost 1 billion dollars, this digital coin is worth only 0.0053 dollars per one unit.

This digital currency had experienced an adverse change in price at the end of December, 30th to be precise, when it dropped -8.75%, reaching its current price of 0.0053$ per one coin.

Bytecoin Communities

Privacy is maybe the most significant treasure anyone can have in this digital age when our personal information is almost translucent and with internet presenting the most vital information base there ever was. Having privacy is thus on the high price. Bytecoin is offering precisely that – privacy for all users and all transactions within their blockchains as they made all transactions performed within CryptoNote to be completely untraceable, that way preserving the confidentiality of Bytecoin users and their purchases. That is one of the main reasons why this digital coin is almost billion dollars worth in the total number of available coins – communities are supporting Bytecoin as it provides them with privacy and cost-effective transactions that are untraceable, and quickly and efficiently processed.

What to Expect

Promises that the next year would be fruitful for digital currencies can be found everywhere around the internet news portals, and those predictions should apply on Bytecoin as well as this digital money has been around for a long time. When you take a look at its price drops and ups, you can also notice that there aren’t any dramatic drops, which speaks in favor of its stability when it comes to value and market demand.

Another factor that might indicate that Bytecoin would make a significant investment is the fact that the blockchains. That means that people are using this digital currency, which may also suggest that this coin is here to stay.

When you add its advanced usage of privacy through layer application such as CryptoNote, you get a digital currency that is functional and close to advanced in oppose to the way other cryptocurrencies are being traded with. When you sum all these factors up, it seems like Bytecoin is here to stay for the time to come.

Is it worth investing?

When all its positive factors and the general opinion of financial experts are taken into consideration, you can say without blinking that Bytecoin is a digital coin to follow up. In case the next year would come as benevolent as the first couple of weeks of December, Bytecoin will surely be on the board with big guys, sticking to the top lists and experiencing increasing value and expanded demand.

We will be updating our subscribers as soon as we know more. For the latest on BCN, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of GotCredit via Flickr

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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