This is your Bytecoin update, minus the hoopla and charts. Cue the music and watch your wallet.
The red flags keep coming. Buy BCN? Please.
If you have perused any of my past blogs (see below), I’ve, on occasion, written about Bytecoin. It’s one of those older cryptocurrencies, that never quite got off the ground. Not like Bitcoin or Ethereum or even Ripple. Sure, people have been interested in it – like me – and then they dropped it. Like me.
Why? Because the answer my friends is blowing in the wind – just like that song. You need only to sniff Al Capone’s cigar.
Bytecoin does not pass the smell test.
Maybe in the deep dark future it will. But not yet. Not when cryptocurrency exchanges dump it or freeze it for months on end. Not when the Bytecoin website goes dead for over a year, then rises from the ashes. Or is that, “sneaks from the shadows?” Not when most exchanges won’t touch it…after years.
Investors have consistently lost money in Bytecoin and it’s happening all over again. It’s called learning the hard way. It’s not like the other altcoins…not by a longshot. And investors need to know this…again.
Fast forward five years. Present day. After all the deception Bytecoin has shoveled out.
Cryptocurrency and blockchain curiosity has now enticed new investors to risk yet more money in Bytecoin…and many other altcoins. The current cryptocurrency (blockchain) environment is a feast for start-ups, with access to easy money and absolutely, it is a boost for innovation and business. It is, unfortunately, a boon for criminals and the mob. Milk money. A fool and his money are soon ruined. It is why governments, in their infinite wisdom, often reach in and “attempt” to pull the plug.
Bytecoin deserves a special mention – again.
And as the years pass, the more often it seemed that mobsters were peeking around the bushes. Did I say there are hints of mobsters – organized crime? Yes. But you be the judge. I know I’m making serious allegations, but hear me out.
Bytecoin is not like any cryptocurrency on the planet. Yes, Monero used the same tech in the beginning, based on the CryptoNote protocol. Arguably, Aeon and Electroneum are born of the same math-cloth. And there are other altcoins that utilize the protocol. Even these others, must be used with caution.
The point is, with Bytecoin, the “rabbit hole” is a game. The mystique is simply there to make everyone chase their tails, whilst the rabbit – the Bytecoin creators – sit back and reap the rewards, in the millions of dollars. It is, like many other altcoins, a money blackhole.
Ask these simple questions:
- Why do all the Bytecoin/CryptoNote developers hide?
- Why are all the names associated with CryptoNote and Bytecoin either pseudonyms or “handles?”
- Why have none of them come forward – not ever?
Here’s the standard answer: to protect them from prosecution. But given the stench, the threat of prosecution is real – for them. Very real. For you? It’s the loss of your money.
Should governments find them, Bytecoin developers would, like Monero and Aeon (but not necessarily Electroneum) suffer. Sure, others could simply copy the code and start over. Dip into the repository and begin again.
To think that they can hide forever is hubris. Monero at least tries to put a good foot forward. Aeon developers are hidden. Bytecoin is off the reservation, however. The outward appearance speaks of organized deception. All of it.
In fact, we do not even know if the current developers of Bytecoin are the originals. We have no idea if they are (or were) good people and judging by their responses on Reddit and other social networks, they leave a lot to be desired.
As a former law enforcement officer, based upon decades of training and experience – they remind me of the thousands of thugs I have had the pleasure of investigating.
Could I and others, be wrong about the Bytecoin crew? That Jenny is an honest soul, trying to keep our wealth out of the hands of corrupt governments? (I’m sorry Jenny, but you and your friends make it too easy.)
How about this recent tweet on January 5, 2018?
Is it Sheldone.store or Sheldon.store? The latter is a brand-new site. Buy with confidence? The former listing seems to be an error, as well.
And Check-coin.com? A new store accepting Bytecoin in a high-risk country – Bulgaria? I’m not even going to link to this site. I don’t want to risk your computer, let alone your bank account.
How about this recent glowing report about Bytecoin — from Decentral Magazine? A brand new, but popular website? If so, why is Decentral Magazine keeping their facts private? I mean I do, as an individual, use a pen name, but my website location is not hidden. I’m in the United States. Any court order can find me. But would not a news magazine want to publish their reputation to the world? And why did the article omit Bytecoin’s negative past? Was this a paid advertisement? Methinks…yes.
How about that fabulous resort in Montenegro? Dukley Hotel and Resort? If you check Scamadviser here, the website is new — and could be on a compromised server. Careful if you visit the website. But you can spend your bytecoin there. Here, try these glowing reviews and don’t forget to expand the “weird” comments. The rest is self-explanatory and telling. Here’s the Google 3-D Map link. Why one reviewer thought of Russian Billionaires is curious.
And there are other new concerns…
Art at Gabo? It’s a new site. You can spend your bytecoin on a nice cell phone cover, a bytecoin t-shirt, even a BCN coffee mug, if you are so inclined. The site appears to be in the United States. Use at your own risk.
Lebytecoin.fr? I’m not linking to it. Scamadviser says it’s on a compromised server. Risky.
Sakama leather goods is an older site, but its owner is hidden. I only buy my leather goods from the “unhidden.” You know, in case I need to return them.
BytecoinMarket.com? Yet another new site. Visit at your own risk. Here’s the Scamadviser on it.
All the above is only to make you think. Yes, in a perfect world, we would all buy our goods in private. No government bureaucrat should watch our every transaction and bytecoin is one offered solution. But pick your solutions wisely. Do not enrich the wrong organization.
The above is not investment advice. It is just information. Take it as you may.
- Bytecoin: The Good News?
- Bytecoin: Crypto Coin Daddy
- Bytecoin: The Cryptopia Delist
- Bytecoin: Don’t Mess with India
- Bytecoin is still kicking…
- So, Where is Mr. Bytecoin?
- Bytecoin Team: The “Seigen” File
- Bytecoin: Who is Joseph Lin aka Neocortex?