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Author Topic: What's going on with Bytecoin? A pump and dump SCAM?  (Read 145 times)
alani123
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May 09, 2018, 11:34:29 AM
Last edit: May 09, 2018, 05:56:46 PM by alani123
 #1

Binance listed the coin and now they're blamed for causing a high network load.
All exchanges have closed Bytecoin deposits. The price went up more than 10x through the day but really, who's buying the coins? Most importantly, who's supplying the coinc to binance if deposits closed?

The development team is alleged of doing this intentionally. Is Bytecoin a scam? How could it be that all exchanged started facing issues with deposits at the same time? Could there be insider activity involved?

Edit: a new theory wants Bytecoin's developers involved with insider trading that might be connected to the 693 million bytecoins that were created through a bug. More here: https://www.reddit.com/r/Buttcoin/comments/8i5mw1/a_flaw_in_bytecoins_code_had_allowed_for_693/

A supposed fix has been released by bytecoin to address the network issues.
Can someone with coding skills check what the new update on bytecoin's code is really? They supposedly fixed the issued the network was failing and the release note of the update is:
Quote
Made early fixes to downloader to prevent long lagging behind.
From: https://github.com/bcndev/bytecoin/blob/master/ReleaseNotes.md Does this fix really address issues with the downloader and was it really this issue that caused the network to stall?

Now, isn't that fishy? How could a project like Bytecoin have overlooked a trivial issue such as the downloader? Did this effectively manage to shut down its entire network? How was the fix so swift? Makes me wonder if this was a planned incident.

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May 09, 2018, 11:57:01 AM
 #2

The development team is alleged of doing this intentionally. Is Bytecoin a scam?
probably(since binance is a well known exchange and might not risk their reputation for that amount of money) but there is also a possibility that a hacker is the one who is doing it.
How could it be that all exchanged started facing issues with deposits at the same time? Could there be insider activity involved?
It is very likely that there is an insider activity involved, specifically someone who is very familiar with how bytecoin's blockchain works but the insider might or might not be one of the core developers of Bytecoin.
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May 09, 2018, 01:02:39 PM
 #3

Binance listed the coin and now they're blamed for causing a high network load.
All exchanges have closed Bytecoin deposits. The price went up more than 10x through the day but really, who's buying the coins? Most importantly, who's supplying the coinc to binance if deposits closed?

The development team is alleged of doing this intentionally. Is Bytecoin a scam? How could it be that all exchanged started facing issues with deposits at the same time? Could there be insider activity involved?

I have seen this happen in crypto several times already. I think its insiders working with the exchange, probably someone higher up in management who can make decisions to list coins.

So this is what they do, first they buy up a whole bunch of bytecoins. Then they list it on Binance and start pumping and selling, at the same time disrupt the network so that no hodlers can dump. Its manipulation and its illegal. If this happened on a regulated exchange like nasdaq or something like that the trading would be halted for bytecoin.

This kind of nonsense will stop one the regulators step in.
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May 09, 2018, 01:13:29 PM
 #4

I think the exchanges did close the deposit because of the price spike on binance. The price on other exchanges did not increase that much like on binance. They did buy cheap on other exchanges and transferred them to binance for fast and high profit.

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May 09, 2018, 02:14:29 PM
 #5

Sadly i bought a little amount of BCN when their value was 1700 satoshis, something like 10$ (luckly not more), by reading this thread now i think i'll never recover those ten dollars... oh well it's part of the game i guess.
Do you think BCN will go up again? or are you sure all this operation was just a scam?

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May 09, 2018, 02:23:18 PM
 #6

Sadly i bought a little amount of BCN when their value was 1700 satoshis, something like 10$ (luckly not more), by reading this thread now i think i'll never recover those ten dollars... oh well it's part of the game i guess.
Do you think BCN will go up again? or are you sure all this operation was just a scam?
You cam earn that $10 in just a couple of hours in trading so you dont have to be sad lol 😂

A friend ask me to invest in bcn because he ha a good outlool bout the future of this coin
Luckily i habe no funds that time and i make study first before hand,but now upon reading this
Maybe i know what to do,and that's not to buy this one,thank about this OP you save my ass
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May 09, 2018, 02:56:23 PM
 #7


Probably only temporary Binance suspended Bytecore https://thecoinshark.net/the-cryptocurrency-platform-binance-temporarily-suspended-work-with-bytecoin
Due to Bytecoin (BCN) network issue. hopefully quickly fixed.
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May 09, 2018, 02:57:31 PM
 #8

Binance listed the coin and now they're blamed for causing a high network load.
All exchanges have closed Bytecoin deposits. The price went up more than 10x through the day but really, who's buying the coins? Most importantly, who's supplying the coinc to binance if deposits closed?

The development team is alleged of doing this intentionally. Is Bytecoin a scam? How could it be that all exchanged started facing issues with deposits at the same time? Could there be insider activity involved?

Edit: a new theory wants Bytecoin's developers involved with insider trading that might be connected to the 693 million bytecoins that were created through a bug. More here: https://www.reddit.com/r/Buttcoin/comments/8i5mw1/a_flaw_in_bytecoins_code_had_allowed_for_693/

Sophistacted Pump and dump. I really don't understand why Binance listed this unless they're somehow involved. It's just a big pre-mine with a lot of bugs and a shitty network. Bet those devs are laughing themselves silly right now.
alani123
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May 09, 2018, 05:55:12 PM
 #9

Can someone with coding skills check what the new update on bytecoin's code is really? They supposedly fixed the issued the network was failing and the release note of the update is:
Quote
Made early fixes to downloader to prevent long lagging behind.
From: https://github.com/bcndev/bytecoin/blob/master/ReleaseNotes.md Does this fix really address issues with the downloader and was it really this issue that caused the network to stall?

Now, isn't that fishy? How could a project like Bytecoin have overlooked a trivial issue such as the downloader? Did this effectively manage to shut down its entire network? How was the fix so swift? Makes me wonder if this was a planned incident.

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May 09, 2018, 05:57:44 PM
 #10

The price spike was probably more because of the Binance listing. Usually when a coin hits a big exchange like that, people will buy it up thinking it's going to skyrocket. Which, it will since everyones buying it. But, it won't hold at that price. It's mainly just people speculating on the new exchange and the effect that will have on the price. No clue about the network load or any of the bugged coins you mentioned though.
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May 09, 2018, 07:41:59 PM
 #11

It really is very strange recent events with this coin, a time behind had no value but after entering Binance its value passed on 100x of its common value. It is more than clear that we are in a game, we can not complain, we must follow how a name exchange can manipulate the interests of the market. Besides the events, we must ask another question, now we can believe in the lowest value coins?
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May 09, 2018, 10:17:48 PM
 #12

Sadly i bought a little amount of BCN when their value was 1700 satoshis, something like 10$ (luckly not more), by reading this thread now i think i'll never recover those ten dollars... oh well it's part of the game i guess.
Do you think BCN will go up again? or are you sure all this operation was just a scam?

With your fraction you took your part on the pump. The greed is unbelievable, your loss is logically.

With deposits disabled, binance needs only a few greedy people to pump this coin, in this case there is no need for a whale pump.
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May 13, 2018, 06:13:24 AM
 #13

Whatever the real situation is behind Bytecoin, I think it's clear that:

a) Their launch was shady and obscured from the public
b) This pump was definitely not natural, even if there is no insider trading or anything of that kind, it's still an unnatural pump that will correct in due time.

You're right, though. Who's actually buying the coins with so much volume? And where's the coin coming from if deposits are closed? Any sane trader would know to shy away from these hyped up, short term, gains. It may be possible that there are measures to artificially inflate the price of BCN during this pump.
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May 13, 2018, 06:18:53 AM
 #14

Binance listed the coin and now they're blamed for causing a high network load.
All exchanges have closed Bytecoin deposits. The price went up more than 10x through the day but really, who's buying the coins? Most importantly, who's supplying the coinc to binance if deposits closed?

The development team is alleged of doing this intentionally. Is Bytecoin a scam? How could it be that all exchanged started facing issues with deposits at the same time? Could there be insider activity involved?

Edit: a new theory wants Bytecoin's developers involved with insider trading that might be connected to the 693 million bytecoins that were created through a bug. More here: https://www.reddit.com/r/Buttcoin/comments/8i5mw1/a_flaw_in_bytecoins_code_had_allowed_for_693/

A supposed fix has been released by bytecoin to address the network issues.
Can someone with coding skills check what the new update on bytecoin's code is really? They supposedly fixed the issued the network was failing and the release note of the update is:
Quote
Made early fixes to downloader to prevent long lagging behind.
From: https://github.com/bcndev/bytecoin/blob/master/ReleaseNotes.md Does this fix really address issues with the downloader and was it really this issue that caused the network to stall?

Now, isn't that fishy? How could a project like Bytecoin have overlooked a trivial issue such as the downloader? Did this effectively manage to shut down its entire network? How was the fix so swift? Makes me wonder if this was a planned incident.

The entire crypto space investors are struggling this coin, as they are losing the momentum of making some profits, i too invested this coin a quiet 7 months ago i think,i never sold it until now, because im losing the capital i invested. In fact i bought it maybe it was december 2017 where all the cryptocurrency prices are so in high position. And now, all of them, the prices are falling. So i hold it for so many months.

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July 13, 2018, 12:36:16 PM
 #15

I think Bitcoin is a very strange coin and some strange things happen to It. Like would of course to believe, that this coin will grow, but it seems that this is not so.

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July 13, 2018, 12:57:00 PM
 #16


They've done it before and so they can pump it again. The coin has enormous volume which is why its easy to achieve the pump too, there are lots of bytecoin traders too. The coin's price reach up to $0.01 the last time I saw it, its just that its too late for me to buy that coin.


The entire crypto space investors are struggling this coin, as they are losing the momentum of making some profits, i too invested this coin a quiet 7 months ago i think,i never sold it until now, because im losing the capital i invested. In fact i bought it maybe it was december 2017 where all the cryptocurrency prices are so in high position. And now, all of them, the prices are falling. So i hold it for so many months.

Yep we all think its price is going to stay up and way up, its going to be too late to realize the bubble is going to pop.
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