Crypto currency seems all the rage at the moment.
Bitcoin has skyrocketed into mainstream news and normal everyday people are starting to wonder what all the fuss is about?...
Personally I have had lots of people asking me about crypto currency and I am by no means an expert.... I would say i am more an enthusiast who’s sat watching (regrettably) over the last several years watching this amazing technology come to fruition.
Interestingly the other day I was asked about Bytecoin?, up until then I had never heard of it. A quick google shows many people discussing “BCN is a scam” etc etc.. all very offputting despite its technological uses. 200bn coin cap ofwhch 181bn has been ‘mined’.
So I brushed off the MinerGate cobwebs and fired up the PC to mine for 24hours to see just how “easy” this altcoin is to mine... 24hours later and an avarage 650H/S I have acquired just over 260 coins..... currently each coin is worth less than 1/10 of a cent, basically worthless.... my PC would have cost much more than a couple of $s to run to acquire that amount.... waste of energy? I would think so.
The other issue I have been faced with is the endless synchronisation time for the Bytecoin wallet. 2 days later it has slowed down to a snails pace at the last third of synchronising the block.. anyone else had the same?
PS this was not an experiment to gain any monetary value. I have unfortunately decided to “get into” the wonderful world of cryptocurrency a couple of years after the boat has left so I try to keep up to speed with altcoins that could potentially one day turn into the next bitcoin. Could Bytecoin do that? Not a chance. But I would love to hear other people’s views on Bytecoin and it’s potential (if any) uses.
J
