Bytecoin team reschedule hard fork and deny pump and dump accusations

22 May, 2018
by Conor Maloney
News
Bytecoin team reschedule hard fork and deny pump and dump accusations

The Bytcoin team held an AMA on Reddit recently where they answered community questions for 90 minutes, several of which focused on the issue of BCN being largely premined and the recent accusations of a Binance pump and dump.

Bytecoin was launched on the deep web in 2012, with much of the token amount reserved for the team. However, the team denied the rumors that the coin is 80% premined, linking this rebuttal and voicing their belief that the rival Monero community are behind it.

Addressing the recent price spikes that saw the coin suddenly increase more than ten times in value on Binance only for users to experience delays in withdrawing it, leading to cries of manipulation, the team said "One of the main reason why all of this happened was because a huge amount of running nodes were on older software. Which made a huge delay in the network and led us to the blackout."

The Binance problem has caused the BCN team to reschedule their planned hard fork, with no new date set as of yet while they work on the project further. They also claim that price manipulation during the Binance spike would be impossible because Binance did not disclose to them the exact time of the currency listing.

Read more about: Bytecoin (BCN)

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