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Author Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012  (Read 1038844 times)
starmman
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October 08, 2016, 03:05:16 PM
 #5041

I heard that soon BCN will be 100% mined. It will be interesting to see what happens to the markets when that happens.
Yes, very much!

Will it even be possible to still do transactions after that time? I mean, if there will be no new blocks? And miners will probably disappear since there is no more reward.

On the other hand it would be deflationary. People loose access to their old coins. No new coins generated. So I guess there is a small chance worth will increase.

This is the big question with Bitcoin once the coinbase runs out, the idea is that there is enough incentive with fees for miners to continue.

Because if the miners do not continue, then you have a lot of hash power sitting around ready for a 51% attack.

If there are no more incentives for miners, the market will create an incentive, which will be double spends against exchanges.

Once one exchange gets hit with a loss from a double spend then good bye coin, it'll likely never be listed again.

I've been watching IXC for a while, - the last block was mined a few years ago and its still alive, although the current value is much lower than is has been over the previous years - living off merged mining as its a sidechain of BTC.

I think BCN may live in Poloniex as a speculative investment coin - so long as it can keep its volume and market share high enough. Maybe some kind of merged mining can keep the blockchain going if another coin jumps in and helps - given the marketcap of BCN - it may well be worth it for any of the smaller cryptonite coins who still have an active development team.
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October 10, 2016, 11:19:20 PM
 #5042

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October 10, 2016, 11:27:30 PM
 #5043


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October 11, 2016, 01:29:41 AM
 #5044

dead?

if they like it, BCN devs can move to dashcoin, its their code .. if they see 500k DSH enticing enough plus 200 XMR bonus, i'm sure the community will still add to that funds.
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October 11, 2016, 03:13:03 PM
 #5045

Good thing with dead coins... it can be pump anytime, you never know !

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paramind22
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October 12, 2016, 02:23:10 PM
 #5046

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now?  If you point any recent computer at minergate you can still get several bytecoins relatively quickly.


starmman
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October 13, 2016, 07:08:47 PM
 #5047

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now?  If you point any recent computer at minergate you can still get several bytecoins relatively quickly.
It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote
Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218,  where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)

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October 13, 2016, 07:39:48 PM
 #5048

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now?  If you point any recent computer at minergate you can still get several bytecoins relatively quickly.
It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote
Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218,  where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)



181.63 billion have already been mined, so that means there are only ~2.3 billion coins left. (LOL). Tongue
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October 13, 2016, 07:48:55 PM
 #5049

If Bytecoin will soon be 100% mined, why is it so easy to still mine it right now?  If you point any recent computer at minergate you can still get several bytecoins relatively quickly.
It has a different supply and reward algorithm compared to BTC, so there will still be many coins per block even at the end. Here is a quote from the OP: -

Quote
Algorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218,  where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)



181.63 billion have already been mined, so that means there are only ~2.3 billion coins left. (LOL). Tongue


im mining bcn cpu on my old as fuck thinkcentre for lulz  not for profit
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October 13, 2016, 07:55:28 PM
 #5050

What I really like about this is awesome anonymity. Normally, when you post your public address, anyone can check all your incoming transactions even if they are hidden behind a ring signature. Cryptonote technology used in BCN provide unlinkable transactions.

Yeah, it's a big step forward.
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October 13, 2016, 09:26:00 PM
 #5051

any active nodes someone?
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October 13, 2016, 11:09:03 PM
 #5052

any active nodes someone?


minergate maybe?
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October 13, 2016, 11:14:05 PM
 #5053



Hhahahaha lmao
paramind22
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October 14, 2016, 01:23:14 AM
 #5054



When you see a coin with a marketcap at over $2 million, it's not dead.....Bytecoin I think has 10 million marketcap today.

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October 14, 2016, 01:34:00 AM
 #5055



When you see a coin with a marketcap at over $2 million, it's not dead.....Bytecoin I think has 10 million marketcap today.

Regardless, I imagine most large bagholders are just still pissed that Monero stole their code and coin and actually made it legitimate. Fuck BCN, total scamcoin imo... Cheesy
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October 14, 2016, 10:17:25 AM
 #5056

... pissed that Monero stole their code and coin and actually made it legitimate.

C'mon man, be careful with what you say. The gullible might think you mean it...

|| Monero Blocks - The Monero Block Explorerdonate.moneroblocks.info ||
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October 14, 2016, 10:37:48 AM
 #5057


C'mon man, be careful with what you say. The gullible might think you mean it...

haha, good point, sorry, I meant forked ofc!  Cheesy
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October 15, 2016, 07:10:50 PM
 #5058

I think it is no longer profitable to bytecoin mining. What do you think!?

What a question! It is very simple, if it is no longer profitable for you, then stop it. Otherwise go on mining it.

starmman
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October 15, 2016, 08:20:18 PM
 #5059

I think it is no longer profitable to bytecoin mining. What do you think!?

What a question! It is very simple, if it is no longer profitable for you, then stop it. Otherwise go on mining it.

For me its profitable, as electricity is pretty cheap here, especially with trading, you can make >10% per trade and really boost profits so long as you are patient. I like BCN.
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October 22, 2016, 01:11:16 PM
 #5060

Hello, I have a problem with my BCN wallet. I can't initialize it. The splash screen appears and then a warning says "blockchain load error" and I can't do a thing. Any help please? Or maybe some instruction how to take out my BCN if I have my private key in a file and move it somewhere else. Any chance for that?
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