beaocoin-biotcoin-bec-cryptocurrency-logo

Beaocoin/Biotcoin (BEC) currency rating

Beaocoin/Biotcoin (BEC) currency rating

Community
Userbase
Presence on exchanges
Technology
Growth potential
Overall
I don't see much innovation here, but I don't want to take away from the fact that beaocoin has a lot of momentum in China. That could mean big things for the coin in the future.

2.5

on a scale of 0 through 5

This post is part of a rating series where I’m trying to rate every major cryptocurrency on the market. See our full list of cryptocurrencies to find other ratings.

beaocoin-bec-cryptocurrency-logoRating summary: Biotcoin may not be well known in the U.S., but it’s got a significant userbase in China where the coin originated.

Beaocoin/Biotcoin (BEC) Currency Review

Named after the French mathematician Jean-Baptiste Biot, biotcoin or beaocoin launched on September 22, 2013. It’s already actively traded on the Chinese exchange Btc38.com, and one pool shows nearly 200 active miners at the time of this writing.

The big (and perhaps only selling point) for beaocoin is the fact that it’s rarer than bitcoin. There will ultimately be 20 million beaocoins minted versus 21 million bitcoin. Still, beaocoin doesn’t even make an appearance on our list of the top 25 rarest cryptocurrencies.

Technologically, there’s little that differentiates beaocoin from most other scrypt currencies. Blocks are relatively fast at 1 minute each and 1,440 blocks per day. There was no pre-mine, and there are no superblocks, so at the very least the coin had a fair and equitable launch.

I don’t see enough here to make me think beaocoin’s got true staying power, but I will say that the coin has momentum in China. It’s gotten some PR and it’s worked its way onto BTC38 where it’s trading in the No. 4 slot. It’s probably the strongest coin out of China that I’ve seen so far, so I’m not writing it off.

Beaocoin/Biotcoin Price Target

NOTE: This price target is entirely speculative. It’s a hypothetical what-if, so take it with a grain of salt. Let’s first compare beaocoin to other scrypt currencies that will have total circulations around 20-30 million coins. The closest parallels I could find are Cinnamoncoin (CIN), which is currently trading at 0.00003840 BTC and Nybble (NBL), which is trading at 0.00005525 BTC. Right now, beaocoin’s trading at 0.001192 BTC on BTC38.com, which could mean its overvalued. The coin’s so new, though, demand could be rapidly outstripping supply – a condition that will diminish over time. However, beaocoin has a stronger online community than Cinnamoncoin and Nybble, and communities are the key to a coin’s success over time. I’ll set my initial price target on beaocoin at 0.01 BTC (about nine times the current price). That’s based largely on the coin’s success in China and assumes that the coin’s popularity will continue to grow behind the Great Firewall.

Beaocoin/Biotcoin Fundamentals

Ticker: BEC
Official website: Beaocoin.com
Official forum: Baidu.com
Announcement: Bitcointalk
Total circulation: 20,000,000
Cryptocurrency type: Scrypt

Photo background credit: Tony Powell. Click to view more cryptocurrency ratings.

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