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‘Bytecoin (BCN) Not Pump and Dump Scheme,’ says BCN Team on Reddit

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Bytecoin
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The team at Bytecoin (BCN) had realized a need to communicate with the fans and HODLers of the coin and answer some questions by the community to clarify the progress of the project. It is with this acknowledgment that the team held an AMA (Ask Me Anything) on Reddit that concluded on the 16th of this month. In the AMA, lots of questions were asked with respect to the coin, the road-map and other issues that were concerning the community. The AMA was successful and had the following questions answered.

Many in the Bytecoin community have been wondering if the coin and project was a pump and dump affair; especially after the debacle that happened when the coin was added on Binance on the 8th of May. With respect to this event, the Bytecoin team responded by saying that they have no control over what direction the price of the coin takes. All they can control is the underlying software of the coin. They also added that Binance never gave them information on a time of the listing as earlier assumed by the community.

Also of concern to the community, was the issue of BCN debit cards and an updated roadmap. The team at Bytecoin was able to elaborate that the debit card project has had some setbacks and they will be updating the community as soon as they have news. With respect to the road-map, the team requested for patience as updates will be available soon.

The project has also been experiencing issues with the WebWallet. The team has been tirelessly working on solving issues of 2FA (two-factor authentication) and refunds. They promised to find a solution and recommended the desktop version of the BCN wallet for use as these issues were sorted.

With respect to partnerships and listings on exchanges, the team also promised good news with time. They are currently working on some partnerships and increasing the coin’s visibility in the markets by having it listed in more exchanges.

Last but not least, in terms of the questions asked, was the rescheduling of the hard-fork. The team explained that hard-forks are usually complex in terms of the technicalities involved and will be updated on when the event will happen. The BCN hard-fork is meant to simplify the code, improve P2P protocol and introduce dynamic fees.

More with respect to the AMA can be found on Reddit where the team gives more detailed responses to the community’s concerns.

Current market analysis of Bytecoin (BCN) indicates that it has decreased by 7.35% in 24 hours and is currently trading at $0.008648 at the moment of writing this. The general feel of the market is of a slight decline with Bitcoin (BTC) currently trading at $8,339 and down 2.13% in the last 24 hours.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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