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The History of Bitcoin Alternative New York Coin (NYC)

07-20-2020 09:05 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: New York Coin

new york coin, nyc coin, bitcoin, litecoin, ethereum, bitcoin cash, cardano, binance coin, chainlink, crypto, cryptocurrency, bloc

new york coin, nyc coin, bitcoin, litecoin, ethereum, bitcoin cash, cardano, binance coin, chainlink, crypto, cryptocurrency, bloc

New York Coin (symbol: NYC) had a very similar beginning to Bitcoin in that the original developer of New York Coin original GitHub repository literally disappeared at launch. NYC Coin is the only other cryptocurrency besides Bitcoin that has an unknown developer that disappeared at launch, whose identity remains unknown to date and has never been heard from since launching coin. The original nycoin code is open-source and viewable to the public at GitHub. New York Coin digital currency is a completely fair launch cryptocurrency with no pre-mine or holdbacks, easy low difficulty mining and no fee to send and receive lightning-fast transactions with confirmations every 30-seconds. New York Coin is the earliest lightning-fast, no fee crypto in existence. NYC Coin is worldwide retail crypto. Free worldwide remittance. Literally, faster than a New York minute!

New York Coin open-source code launched on March 6th, 2014. Original GitHub repository has never been accessed or modified since launch. Original developer has never communicated with anyone and only posted 1 tweet, 2 facebook posts and 12 posts on original bitcointalk forum announcement page.

NYC Coin was quietly launched at a time when New York regulators were going hard after bitcoin startups and aggressively prosecuting the founder of Bit-Instant, Charlie Shrem. New York Coin launched approximately 6 months before the death of Hal Finney, recipient of 1st Bitcoin ever sent. NYC Coin is one of the most usable and disruptive cryptocurrencies ever created offering users no fees, near instant transactions with confirmations every 30-seconds, energy-efficient mining, fair launch with no hold-backs, scrypt proof-of-work (just like Litecoin and Dogecoin) and 100% open source code.

Early scrypt miners in March 2014 were amazed by NYC Coin's much more usable specs compared to any other cryptocurrency. A worldwide decentralized group of New York Coin supporters quickly formed and have loyally supported the NYC network for over 6 years.

There were no updates to original nycoin.net website launched by original developer(s). No updates to social media accounts, no posts or communication from original developer on bitcointalk forum, nothing ever again. An early NYC Coin miner, Charlie Kartchner, created the website newyorkco.in back in March 2014 shortly after receiving no response from numerous attempts to contact original developer(s). He also created a new facebook page and a new twitter account for New York Coin in early 2014. Another early NYC Coin miner, "Coinsprofit" at bitcointalk forum, started nyc.coinsprofit.com mining pool which became the official mining pool for New York Coin in early 2014. Another early NYCoin miner, "hobbyist" at bitcointalk forum, created a block explorer and another mining pool for NYC Coin. The nycoin.net website launched by original developer(s) was never updated and stayed dormant until the domain name expired in 2015.

Between mid-2015 to mid-2017 New York Coin did not have a website or development team overseeing NYC Coin's direction. During this time period, a small cryptocurrency exchange named Coingather listed NYC Coin and began to mine it as well. That exchange unexpectedly vanished in the 2nd half of 2017. Later to find out that their exchange was operating illegally in Ohio and had been raided by the FBI. Likely taking many early miner's New York Coin permanently out of circulation. The majority of NewYorkCoin reported as circulating supply have very likely been permanently removed from the market. Old files get deleted, computers get replaced, hard drives fail or get written over, passwords are forgotten, backup drives get lost, etc. Especially when a coin has a very large blockchain requiring over 1 GB of storage space and minimal liquidity or any value for years. Or even a website from mid-2015 thru mid-2017. In early summer of 2017, "scryptenthusiast" from bitcointalk registered nycoin.net domain name and rang the alarm. NYC Coin supporters worldwide quickly answered the call. Network nodes were quickly back up and running, mining pools were re-established and multiple block explorers were synced with the New York Coin network.

In early January 2018, NYC Coin market valuation skyrocketed to $125,000,000 USD ($0.0012/NYC) during the last Bitcoin (symbol: BTC) supercycle to $20,000. A worldwide group of new supporters formed the NYCoin Community, established a new GitHub repository and began updating the original code and wallets. After several delays, NYCoin Community devs successfully implemented a hardfork on October 29th, 2018 that updated network security & stability replacing the aging Kimoto Gravity Well with Digishield and implemented Aux-POW / Merge Mining adding considerable hashrate to the network which helps protect against future 51% attacks and multipool mining abuse.

Just prior to the hard-fork implementation in late October 2018, AZORult malware-infected wallets were uploaded by a malicious member(s) of the NYCoin Community to their new GitHub repository which enabled attack vectors for the only successful 51% attack in NYC Coin's 6+ year history. "cmelion" from GitHub then used the exact same excuse given by the Denarius dev from ZDNet article ( https://www.zdnet.com/article/backdoored-cryptocurrency-software-found-serving-azorult-malware/ ), literally verbatim, for the reason malware was mysteriously uploaded to their Community NewYorkCoin-NYC repository. It was quite comical; though not so much at the time. In the end, no user wallets were affected by attack. The attack only affected exchanges from double-spent NewYorkCoin. As a result of this chaos-bomb, NYC Coin was subsequently delisted from numerous exchanges affected by "double-spent" NYC. Yobit, NYC Coin's #1 volume exchange, temporarily closed NYC deposits and withdrawals. Yobit has allowed uninterrupted trading of NYC Coin since 2017. In July 2019, Yobit synced NYC blockchain (version 1.3), updated wallets and re-opened NYC deposits. Withdrawals on Yobit have not permanently re-opened yet. No New York Coin wallet has ever been hacked. The well-planned and orchestrated 51% attack only affected exchanges from double-spent NYC. The end result of 51% attack in October 2018 was NYC getting delisted from numerous exchanges which depressed both price and liquidity to near all-time lows during 2019. And presented a once-in-a-lifetime buying opportunity, especially for those that had initially entered NYC Coin at much, much higher FOMO prices during January 2018 mega-run.

Block reward reduction was implemented at block #4,800,000 and will continue thru block #7,000,000 in December 2020. New York Coin block rewards will be reduced to 50 NYC at block #7,000,000. Effectively capping NYC Coins's maximum lifetime supply under 145 Billion for the next 20+ years. Currently block rewards are 100 NYC every 30-seconds.

New York Coin ( https://nycoin.net ) has recently been listed on numerous cryptocurrency exchanges including STEX, SouthXchange, TOKOK and HodlHodl. Additional exchanges are planned to be announced in 2020. New York Coin has weathered the storm. Survived when many others haven't. Still standing tall. Original blockchain cryptocurrency since 2014 with extremely valuable retail-level specs. The future is looking bright for New York Coin digital currency.

Charlie Kartchner, Crypto Writer
167 Mott St
New York, NY 10013
718-490-7554
hello@nycoin.net
https://nycoin.net

NYC Coin is the earliest lightning-fast, no fee crypto in existence. An original blockchain cryptocurrency since 2014. New York Coin is open source P2P cryptocurrency. A lightning-fast, no fee version of Litecoin (symbol: LTC).

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