Cryptonote 101: What is Bytecoin and how do I mine it? How to use cryptocurrency anonymously. Win 1000 bytecoin!

Bytecoin or BCN is a cryptonight coin that uses the cryptonight algorithim.

This is the same algorithm that Monero (XMR), Electroneum (ETN) and Aeon use.

The reason that I use cryptonight coins is because they are the only true privacy coins that exist.

Bytecoin is super cheap to send. Transactions are very fast.

The fees are tiny.

The cryptonight algorithim uses multiple features to keep your transactions untraceable.

From what I understand, Cryptonote coins are ASIC resistant because they can not be pipelined:
Info on pipelining can be found here: https://en.wikipedia.org/wiki/Instruction_pipelining

If you know more about how coins like Monero are ASIC resistant or have sources, please post in the comments!

The reason that ASIC resistance is important is because right now as it stands, bitcoin difficulty is ever increasing due to the fact that ASIC manufacturers like bitmain are releasing more powerful mining machines all the time.

The difficulty for many coins went up as soon as ASIC machines were invented to mine them.

Bytecoin can not be mined with ASICs and therefore are a good option for someone wanting to mine with a CPU or GPU.

Bytecoin released a road map for 2018 that looks rather promising.

By March next year we will be done with beta and have our own official new wallets for bytecoin.

Bytecoin is one of my favorites because like most cryptonote coins that we know, it has adjustable layers of un-traceability making this a good coin for anonymous transactions.

You can adjust your privacy levels by changing the ring signatures from 1 - 6.

6 being the most private and 1 still being more private then say, bitcoin.

Using BCN is simple. You go to bytecoin.org and create a web wallet.

Then check out HitBTC to buy yourself some BCN on the cheap, as I write this you can pick it up for less than a cent and I think that anything under that price is a steal for how simple, quick and easy it is to use.

HitBTC - Buy BCN
https://hitbtc.com/?ref_id=5a009cc469d48

Changelly (OTC Exchange): Buy BCN
https://changelly.com/?ref_id=34d87b1f8797

Minergate:
https://minergate.com/a/9cbf13849ae161605383e869

How to support my content and contact me:
https://tinyurl.com/support-kryp70kn1gh7