Dear, Reader What Ever I Write in This Article is Just My Opinion, You Might Have Another Opinion On This. I Am Not Giving Any Investment Advice.
ByteCoin (BCN)
Bytecoin was The First Private and Decentralized Cryptocurrencies. Monero (XMR) is a Fork of ByteCoin (BCN). But Monero (XMR) is Having a Value Worth $88.82 At The Moment at which I was writing This Article. Also Monero (XMR) has
No Finite Supply. While ByteCoin (BCN) has a Market Value of $0.000231131 At The Moment I wrote This Article. But Bytecoin Unlike Monero Has a Fixed Supply of 184.47 Billion Coins, out of which 184.06 Billion Coins are In Circulation.
The Reason Why I Think ByteCoin Has The Potential To Grow in Value
1. Most of The Supply of ByteCoin is Already Mined and is in Circulation.
2. ByteCoin Is A Privacy Coin (Actually The First) and Maintains The Privacy and Anonymity of Users Transacting with This Coin.
3. People are Still Mining ByteCoin despite The Current Price.
4. Any Currency whether Fiat or Cryptocurrency is accepted as a means of value due to The Belief That The Buyer and Seller Have Regarding The Value of The Medium of Exchange. Bitcoin is Becoming Valuable Because it is Deflationary and The Block Reward is Halved as Time Progresses.
5. At One Point of Time Bitcoin was Also Thought of as A Joke But The Select Few Saw Potential in The Cryptocurrency. Many People Still Do Have Faith in ByteCoin (BCN), Despite The Critics.
6. Privacy Coins Such as Monero (XMR) don't have a fixed Supply. This is not The Case For ByteCoin, ByteCoin has a Fixed Supply of 184.47 Billion Coins. That Means BCN becomes rare as Time Passes.
Why BYTECOIN hasn't progressed in Value That Much ?
1. Bytecoin Although Being Like A Parent For Other CryptoCurrencies Was Not Given A Proper Recognition.
2. People Used To Pump and Dump This Coin To Make Profits For Themselves. (But This Affected The Reputation of The Coin). The Coin Does Have Potential. Note That Bitcoin To Suffered With Pumps And Dumps But as It Became Rare The Price Starts to Steadily Increase.
3. ByteCoin Lost Support By Developer (This Doesn't Mean That The Currency is Dead). As I Mentioned Earlier Any Currency is Valuable Mainly Due To The Faith People Have in It. ByteCoin Will Get Support And Begin With A New Community. There are Already Telegram Groups and Discord Chats Regarding The Future of ByteCoin.
Final Word : I Personally Feel That ByteCoin Has Potential Especially Since Most Coins have Been Already Been Mined and Still People Are Mining It. Also There is Trading going on With BCN and Faucets are also Giving Bytecoin as Rewards.
