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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
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on: October 07, 2017, 09:40:52 AM
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In simple words can you explain how it works?
Example in airbnb let suppose that the price for a week is 70000 yen i have to pay
this whole amount over paypal or credit/debit card throught airbnb. Right?!
Then when I arrive at the accommodation the owner should give me 10%
cashback in byteball in this example this would be 7000 yen in byteball?
Can you confirm it works that way?
Thanks.
It's explained here: After the order was placed, or at some other point in the order process, you ask the customer about his Byteball address for receiving cashback. The address serves like the number of a loyalty card, and the concept should be familiar to mainstream customers even though it is a cryptocurrency. At this point, the customer should have already installed his Byteball wallet. When the order is paid, or otherwise finalized, you send us the purchase details, together with the customer’s Byteball address, using our API https://github.com/byteball/byteball/wiki/Cashback-API. If you are handling the orders manually, you can also send the same information by manually filling out the form at https://byte.money. We immediately send cashback to the customer. https://medium.com/byteball/byteball-cashback-program-9c717b8d3173 |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
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on: August 15, 2017, 04:03:09 AM
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Keeping the price up by incentivising holders through airdrop only won't work in the long term because once the airdrop ends everybody will dump the coin into oblivion. You better devise something more clever like real usage - that's where the real value of the currency comes from. Tony is working on exactly that by incentivising usage through cashback but it's not easy because it requires merchants and payment processing companies cooperation.
It's not hard to find real usage, for example right now byteball has 18477x less fees than bitcoin and it's faster than ethereum or at least as fast, even ethereum has 166x more expensive transaction fees. You'd be mad not to use this to buy your every day stuff, from groceries to weed (blackbytes). Also, you need GB to rise 66x, that's 21k~$ / GB in order for the transaction fees to go as high as 0.01$ US, one cent. Fastest, cheapest, untraceable and I didn't even touch the P2P, smart contract part. Every altcoin has cheap and fast transactions. That's not enough for byteball to win users over other altcoins. As you can see with Monero and Zcash anonymous transactions are not enough either. |
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