Crypto Speculator Threatens Bytecoin, possible cheap BCN in a week or two
A large scale holder of Bytecoin is threatening to sell off his entire supply of BCN forcing the price down if the development team does not meet demands of his soon. If you’re not familiar with it Bytecoin is a older cryptocurrency which has been around for years now. It’s well known for its low difficulty in mining, low value and huge supply.
It can be mined on almost any CPU/GPU but only has a price of 0.00000041. At current prices this basically means you need a little over 750 BCN to equal $1. While you most likely won’t be getting rich off of this anytime soon even if you mine a lot of it but the nice thing is that BCN is a reliable coin. It’s been around for a long time, is seen as solid, fast and fairly secure and most likely won’t be going anywhere. Since its original release it has gone up considerably (relatively speaking) in value from 05 satoshi to a average of 41 satoshi. If you’re not familiar a satoshi is a measurement of value in bitcoin
For any new or old crypto investors I bring this up as a chance to load up on some cheap(er) bytecoin. Like the article mentions it’s unlikely the bytecoin team will meet the demands. Most likely this person will sell off his large amount of bytecoin forcing the price down. When this happens best to follow the old saying, buy low, sell high.
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o yes have BCN and i mine on my laptop with cpu when i not use it . BCN is 0 transaction fee, very cool and is quick.
It's a neat crypto. Doubt many of us will get rich off of it but good way to get ones feet wet in the crypto market and make a little side money possibly. You're right on it being fast as well and 0 fee. You might be able to pick up some cheaper soon here.
well it surely boosted my income trading it back and forth, those pennies make a masive difference compared to trading high valued coins
What kind of strategy did you use? I would be curious. I can understand that too. While I've done short trades on lower price cryptos I more buy and hold the high priced ones.
I don't have one yet, or so I think.. I just basically go with the trend, try to get into a trend as fast as i can , and get out just as fast. trends tend to hook you. I'm currently on a mission, a goal I would like to reach, trying to make a million from a $30.. which i just turned into $86, from Bytecoin , there's was quite a demand about an hour ago, you should have seen that baby rise... it's a bit tough juggling between my job and trading. I don't get time to trade really. i just try to buy as low as I can, i always look out for sell walls. as soon as i see an above average sell order. I don't buy, because than everyone would want to dump. but if i see small sell orders that are not blocking price from rising, and there's a demand, a big-ish number of buyers, i try to buy as low as i can or at market price, and sell a little higher from what I paid for it, I always try not to go lower than what I paid for it. I can say i make about 80% winning trades. even if i make 2 satoshis , for me it's still a win.. profit is profit right? the only time i fail, is when i get greedy, or get in too deep in a trend.
oh and, I would have been at $92, but my brother did something on the net, i lost $6 due to my network being cut for 5 minutes.
I got you buy low sell high. I've done that with several cyrptos but never bothered with bytecoin due to the low value. More just been doing a buy and hold stragety but maybe I'll give that a shot sometime.
I feel your pain between work, family, my girl, seems to never be enough time for all of the crypto trading and research.
I appreciate the info on how you do it. Hope you get closer to that goal soon.
Very good blog. Good to see I'm not the only one who thinks like this. Buy low, sell high, it seems so simple but most investors still don't seem to get it :-) Besides coinmarketcap.com there is: https://www.coincheckup.com They give great insights in the team, the product, advisors, community, the business and the business model and other techincal insights. Check for example: https://www.coincheckup.com/coins/Bytecoin#analysis To check Bytecoin Investment research.