While this pump has been interesting, the simple fact is that bitcoin cash will simply be just another alt coin until it gains the significant adoption by outside parties that bitcoin has. I had thought that this would be its big advantage - adoption - if you already have the software and systems for using bitcoin, you already have the systems for using bitcoin cash. However, as this article points out, that's not the case, more was changed than just the block size which made it tougher for trezor to support bitcoin cash than initially thought. While I might keep some bitcoin cash in case I'm wrong, unless adoption picks up, this coin will just be another alt coin, similar maybe to litecoin, not worthless, but no big deal as coins with real innovation come along. |
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Not yet evaluated
I haven't investigated these enough yet to give them scores.
- BitBay
- Blocknet
- Byteball
- CloakCoin
- Dash
- GameCredits
- Neo
- PIVX
- Waves
- XEM
- XtraBYtes
- Zencash
This was one of the more interesting posts I've read on here in awhile. I'll hope you'll expedite your review and give your views of the others. Good luck if you try and go with an alternate index. Thanks for the forums. |
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I really hope JM Bullion is one of the merchants. I would love to get 10% back on precious metal purchases! |
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username: wry
This is generous, thank you, looks like I can even use your site to convert this into REDD!!! Cool, thanks!
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Username: wryy
Thank you very much, this continues to be one of the best promotions on bitcointalk!
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Any speculation on the price floor?
Last month's peak to trough sell off was remarkably brutal, a high of .38 to .141. Since we had a much lower high this month, .24 or so, maybe the trough wont be as bad, though we are already at just over .12. I think the new distribution model will help, especially if it leads to some good adoptions. |
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After August 7 we'll reach more than 50% distributed coins and will start a new phase of our distribution.
Up until now, we were distributing only to holders of BTC and Bytes, i.e. we were rewarding holding. Now we are adding actual users into the mix, i.e. we are going to reward transactions.
To get you an idea of how we are going to do it, we are going to partner with several categories of companies:
- merchants
- payment processors
- "Bitcoin debit card" companies
and offer 10% cashback, paid in Bytes, for all qualifying purchases (no matter how the purchases are paid). The cashback will be funded from the undistributed pool. For example, a customer who bought for $100 receives $10 cashback in Bytes, paid to his Byteball address, at the current exchange rate. For merchants, this is something that would drive sales and they would put effort into promoting the offer. In competitive industries, a 10% cashback is a very powerful tool to lure customers. For customers, this is a 10% discount (which matters a lot in some industries). For Byteball, it is new users who will have to get involved into the system in order to receive the cashback.
A few companies have already expressed interest (not disclosing the names while it is a work in progress).
A few extensions of this offer:
- 20% cashback if the purchase is paid in bytes or blackbytes. This would incentivize merchants to start accepting bytes and blackbytes, and the infrastructure will stay after the distribution ends.
- merchants can offer additional cashback to their customers. Merchants fund it themselves by buying bytes from the market, and for every 1% funded by the merchant we add 1% more from the undistributed pool.
If you see similarity with existing loyalty points schemes, it is similar indeed.
At a minimum, we receive many new users who learn about Byteball from their merchants, plus working payment integrations. And the users are not just crypto fans, it may be their first crypto coin for many users. With the most user friendly wallet in the industry, we are in the best position to expand beyond the crypto village.
We can continue adding 10-20% to existing byte balances to incentivize keeping the received bytes before more infrastructure is built, rather than cashing out immediately.
Two negative sides:
- the scheme is less transparent than plain adding on top of existing balances, and some share of fraud is inevitable. Merchants might try to deceive us to receive coins for themselves by reporting nonexistent sales or selling to themselves. This is mitigated by good choice of trustworthy merchants and our ability to disconnect any merchant at any time on suspicion of fraud. Their customers can also try to find ways to abuse the system, again we'll require the merchants to prevent that by excluding some types of purchases, monitoring customers, enforcing caps, etc. Additionally, if the merchant funds part of the cashback himself, he has skin in the game to counter the customer fraud.
- these new users are not holders for the most part, they are more likely to sell. Not a big problem, the point is they already know about Byteball and it's easy for them to get back. The new users are new to crypto, many of them won't use exchanges, and somebody will have to create new easier-to-use channels to fiat, which is positive for liquidity. Also, 10%-20% monthly distributions discourage fast selling while the distribution is ongoing. And lastly, the merchants who fund 50% of the cashback would partially balance the markets by buying coins.
On balance, I'm sure that these negatives are tolerable when we are going to achieve a vast expansion of our user base and acceptance at merchants.
For the current distribution round, nothing changes.
For the next distribution on September 6, we are changing the ratios in favor of Byte holders and slowing down the distribution to have more time to build out the cashback program:
BTC to Bytes: every 160 BTC gives you 1 GB from the distribution (or 0.00625 GB per BTC).
Bytes to Bytes: every 10 GB of existing balance gives you additional 1 GB from the distribution (in other words, +10% to existing balances).
Similar ratios for blackbytes.
For those who receive their first bytes from cashbacks, Sep 6 will be the first distribution when they receive +10%.
I'll make announcements as we add merchants in the cashback program.
On balance I think this is a good initiative for the coin. Incentives to use rather than hold make sense, and I like the x10 reduction for BTC holders versus the .5 reduction for byte holders. To the extent people are aware of this, it might prevent the pre/post dump crash in price we see around every distribution date. I do not know how you will guard against fraud, as I can see people having a field day with that, but I still like what you are trying to do. Good luck finding trusted partners in crypto land. Go Byteball! |
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Is an airdrop still going on for this byteball??
As the post right above you notes, YES. I've written a simple guide and frequently asked questions blog post. It may be worth your time. Enjoy Byteball! It's a wonderful and promising coin! |
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username: wryy
Thank you very much!
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Network moves slowly, but mooves! Coin is not dead. When difficulty adjusting normalize block movement - then BCH must explode!
There are still 1000s of people waiting for enough confirmations to dump then yes it will explode like a bomb destroying all value I thought the coin would drop quickly too and still plan to sell some, but it's been kind of nice not having to worry about if the fee I used was big enough and knowing that my TX would be in the next block. Obviously, there was a huge gap in blocks today, and not sure I like more centralization, but this does not feel like a total shitcoin to me. I fully expect price to drop rapidly on Bittrex once the tidal wave of coins heading there get their 20 confirmations, but if in a few months BTC has issues, maybe some places will start accepting Bitcoincash as well. |
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So they are going to support it, but you can't get your coins until 1 Jan. 2018. Sort of an odd response, but better than "All your bitcoincash belongs to us!" |
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Bittrex open the deposit and chain stopped...
Well block finally found - and it was a big one! But still 16 or 17 more to go before anyone gets their coins to bittrex to commence the dump o' rama. |
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This was very useful and may be worth adding to the OP if you have not already. Thank you again! |
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Yobit already distributed BCC tokens. Many have already sold them and have a second chance to get on another exchange.
Given the coins don't exist yet, they must have done it on speculation somehow, like credit everyone's account and then shut down deposits and withdrawals. Still an interesting and aggressive way to get the jump on trading. |
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so has anyone here actually used blackbytes for anything or than selling them yet?
I asked dooglus to make just-balls so we would have a good place to gamble or invest our byteballs and blackbytes but he didn't seem too excited about the idea!  |
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Username: wryy
Amazed this is still going, thanks!
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Typical ICO: "We're 5 guys, if you give us 50 million bucks, we give you * insert random promise*" Tony: "Here's a complete working product with many features. I give you free money" Easy choice  This really does sum it up perfectly! I do not understand all the money flowing into so many ICOs. This is the way to get broad distribution and support. |
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Do we know how many distributions ahead or every next round can be the last one?
Accodring to coinmarketcap 366K have been distributed already and 634K ahead (57.7% of supply to be distributed yet).
We don't know exactly because it depends on how many BTC are linked each round. However, as of right now there are at least three distributions left to go. Your question comes up a lot, I've tried to compile the most common questions into this guide, it may be worth your time. Good Luck! |
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wryy
Thank you very much for this!
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bb didn't distributed yet?
Same question...what's up with no Blackbytes being distributed yet? Blackbytes always take a long time to distribute. No idea why. It doesn't matter though. The blackbytes aren't worth a lot anyway. Can i still claim some tokens? or is the distribution completed already?
It's too late. You should claim at the next distribution, which will be on the 7th of August. It happens every full moon, because the dev is a werewolf. Well they better not still need my btc in that address cause i moved them already  You can move your BTC after the snapshot block is taken. The Blackbytes will show up in a couple of days. I wrote a guide that tries to cover some of these basic issues that keep coming up, it may be worth your time. Good Luck! |
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