Bytecoin explained – What is bytecoin and how much is it worth?

welcome to a mobile episode of crypto talk I’m your host David Haye and in today’s episode we’ll be looking at white coin a lot of people have been asking me to review this coin so I decided to do some research into it and find out exactly what it’s about and in this video I’ll go over some of the technical details a little bit about what makes it unique and I’ll make some price predictions for what I think it’s going to do in the future so stay tuned we’ll be right back [Music] my queen was started in 2012 it was the first cryptocurrency ever to use the crypto note algorithm and the reason that this is such a big deal is that if it used the same algorithm as Bitcoin for example it wouldn’t have really given the ability for most or a lot of users to participate in the mining process because as the mining process and as more and more – join the pool it becomes more profitable people start building specialized hardware and so in Bitcoin they have these ascii machines and the ascii machines are just so much faster than your GPU on your desktop that it really makes Bitcoin ineffective to mine on a standard desktop computer so when they use the crypto Notah algorithm it splits the processing power between the GPU and the CPU and it also makes it a little bit more resilient to this designing of specific systems so that means that the community is much larger and the miners are much more distributed incentive centralized in 2014 it forked and after the fork we had – and by coin and – has gone on to be wildly successful it’s a very it has a huge community and both these coins have had continued success since then so I think that gives us a good degree of confidence that their their code their algorithm and the way that they’ve set the coin up is is good after I finished college I worked as an engineer for three years and I think that when I look at cryptocurrencies I might not be looking at them like the average person and this really was apparent to me last week when I made two videos one was cryptocurrency as you can buy for under $1 and the other one was just the top five cryptocurrencies in general to buy and I was blown away at how much more popular the video for cryptocurrencies under $1 is there’s a a psychological barrier that people have when it comes to the price of a coin and same with the idea that a coin can grow more if it’s priced at a lower value so for example if somebody says that cryptocurrencies point worth point zero one percent in their mind it’s easy for it to go up to $1.00 even though that’s an exponential increase and even though if you looked at the total supply that’s really pretty unlikely they if you ask somebody hey do you think Bitcoin can go from three thousand to three hundred thousand dollars if they look at you crazy but I’ve seen lots of people make this same argument for the same increase based solely on the fact that the currency is worth a tenth of a cent 1/10 of one cent and so I think that that logic from an engineering standpoint and out analytical standpoint is flawed but I think that we need to look at it from an emotional standpoint because if there are a lot of people buying cryptocurrencies right now and if that’s the way that they’re looking at the market who am I to say that it’s wrong or Who am I to say don’t do it like this obviously I’m I’m not the boss you know this is a free market and if people decide that they see value in a coin that’s 1/10 of one cent I think it’s sort of arrogance for me to say no that’s stupid so so my coin may have an advantage when it comes to this really low value port per token and that may attract a lot that may continue to attract a lot of new users even though for me I don’t see a huge functionality difference between having Bitcoin worth $3,000 that’s divisible into fractions of a cent or fractions of a cent and then having by coin which is already valued at a fraction of a cent right now by coin is the world’s twenty fourth largest crypto currency is trading at a tenth of a cent because it’s been around for 2,000 because it’s been around since 2012 and because it’s been able to Cisco to spin off a successful fork which is – I have a lot of confidence in this technology I don’t think it’s anything particularly revolutionary I was looking at some of the documents online I was reading through some things and I don’t see any use case where for example wow this is going to be so much better to use than something else so for that reason I don’t see humongous growth potential but I don’t see it as being a scam coin or a junk coin either I think that it functions like a lot of other alt coins besides our long side Bitcoin I think it’s prices will probably reflect the rest of the good cryptocurrency coins and while the functionality might not be something as unique as say sire coin or golem it does have a market and it does have a place and as long as people have this psychology where it’s better to own a thousand of a coin that’s worth one cent then to own one coin that’s for example worth ten dollars I think Mike Elena is going to continue to get a lot more attention and it’s more investors and nubian events investors into the market I think they’re gonna be sort of drawn to this coin as a starting place so I like by Queen the fact that it’s been operational for five years gives me a lot of confidence in its platform it’s had some time to mature and develop trust in the community and I think that its price will closely correlate with a lot of the other cryptocurrencies for example like Bitcoin and aetherium and it’ll be a good way for new traders to enter the market especially if they’re looking for these bargain coins that are under 1 cent so for that reason I have a very positive outlook on bike coin it just missed my top 5 but I’ll be keeping my eye out in the future and I’ll make some follow-up videos if anything changes so until next time learn how to buy bitcoins step 1 install the Bitcoin wallet step 2 oops you waited a few weeks the price of Bitcoin just doubled step 3 tell yourself the price of Bitcoin is too high it will come down soon step 4 oh shit the price of Bitcoin skyrocketed again step 5 talk to your friends about how much money they’re making with Bitcoin step 6 you finally buy a fraction of a Bitcoin but your friends laugh when they find out it’s not enough to cover the cost of a wanna cry ransom what are you waiting for start investing today visit to david haye Dorgan slash bitcoin follow me [Music] every time somebody like one of my videos I water these plants every time somebody subscribes to my channel I give them the trees every time somebody shares a video on Facebook so if you like gardening dogs America or cryptocurrency you should support this channel [Applause] [Music]

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