Bytecoin is down 26% on Cryptonote. Any reason to worry about the future of its exchange rate?
Well it has been falling for a while now, at least it has slowed down now. It's a little worrying but if we can get more people to buy this coin through one way or another then the exchange rate won't be something you have to worry about.
I just wonder why it is failing now if it has every feature to compete with Bitcoin?
If its because of the rep that was a lit bit spoilt by BCN's enemies that's suck.
It's reputation was ruined because it came out to the public 10 weeks ago but it's chain is two years old.
That's called a pre-mine and people generally don't like buying into a coin where 80% of the entire circulation that will ever exist is already owned by the developer.
That's why it's reputation is spoiled, we don't even have to work to ruin Bytecoin's reputation.
If you want more proof, see the Nxt pre-mine and the Ripple pre-mine.
One Ripple developer who owned part of the pre-mine is now selling and just crashed the price. This is why people don't like pre-mines.
But please, go ahead and buy/mine your 0.00001% ownership of the entire circulation and cross your fingers a developer doesn't ever want out.
Technically this is not called pre-mine. You are comparing this to a dev who actively mined his own coin in a matter of days and got loaded to a coin that has been out for 2 years actively mined by a community. Shame to mislead such a matter.