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Another long day at the office here! Just wanted to mention that we have most of the back payments ready now and will try to get them finished tomorrow. Once we get everyone sorted, I will send the list over to Chris and he will be sending out our first big payment of XFUEL for all the work that has taken us thus far.
I also set up a personal Twitter account @CCRevolutionXBY so that I can keep the Community better informed about what is happening in an easier fashion (Great suggestion Yankee!).
Keep up the Great Work Everyone!!
Dave
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XFUEL was created to solve a problem, how to fund the development of XTRABYTES? See, XTRABYTES isn’t some corporate backed project with a $100 million budget for marketing and it doesn’t have a fancy ICO to raise funds. If it did, it would have $80 million set aside for marketing and development.
All XBY coins are in circulation so there isn’t some secret supply stashed away anywhere that the Development Team can sell off to raise capital. So something had to be done to solve this dilemma and that’s where XFUEL comes into play. However, XFUEL does much more than simply provide development funds as you will see below.
Before XFUEL, the STATIC node setup had LEVEL 1 (500,000 XBY) and LEVEL 2 (250,000 XBY) nodes as follows:
STATICS XBY Supply
LEVEL 1 512 256,000,000
LEVEL 2 1024 256,000,000
Total 1536 512,000,000
That would mean the XTRABYTES platform would run on 1,536 STATIC nodes and there would be 138 Million XBY left in circulation. This would not allow for affordable LEVEL 3 (125,000 XBY) nodes to be registered, as that would require a supply of 768,000,000 XBY, far more than the permanently fixed supply of 650,000,000 XBY available.
This is where XFUEL steps in, by fulfilling the STATIC network and making it even more decentralized. While node holders can still register their STATIC entirely with XBY, they can now use both XBY and XFUEL to accomplish the same goal.
By including XFUEL, one can register a STATIC node with a ratio of 67% XBY / 33% XFUEL. This is what the STATIC node network looks like now with the addition of XFUEL:
STATICS XBY Supply XFUEL SUPPLY
LEVEL 1 512 168,960,000 87,040,000
LEVEL 2 1024 174,080,000 81,920,000
LEVEL 3 2048 174,080,000 81,920,000
Total 3584 516,120,000 250,880,000
As all nodes are registered, around 134 Million XBY will remain in circulation to be used as a payment system for modules on the network. This system more than doubles the stability of the platform by adding 2,048 extra STATIC nodes.
XFUEL/XBY will be the first trading pair on the new XTRABYTES Decentralized Exchange (DEX) platform called the X-CHANGE. This is a double win because:
1. It allows people to buy XFUEL.
2. XFUEL/XBY showcases the X-CHANGE so people can witness proof of tech. This will allow the X-CHANGE to expand and add more pairings like you would expect from a traditional exchange but with full decentralization.
XFUEL is a brilliant solution to a complex problem. XFUEL provides a funding method for development and more than doubles platform stability. XFUEL also plays a roll in registering a STATIC node and node holders will earn XFUEL fees by securing the X-CHANGE. Since XFUEL doesn’t dilute the value of XBY value, as active XBY circulation decreases, it is literally a win for everyone who holds both XBY and XFUEL.
Fantastic post, Yankee! Thank you for reminding many and pointing out to others that tremendous and multiple benefits the addition of XFUEL brings to the XTRABYTES project. Great Work! |
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1 satoshi, 100 satoshi, 1000 satoshi, what it started at is irrelevant. Free market will determinate XBY's value via organic growth, and if it thinks it is worth 1b+ dollars once everything is in place (and there is good chance it will imo) then it will reach it.
ICOs are scams and are illegal, plain and simple.
The market has to know you exist and right now that is one of the bigger hurdles. This latest media push has put a bunch of new eye balls looking at the coin. With a steady stream of updates and more technical releases the functionality of the network should help bring in more folks. I think how the XBY team is going about this next stage of growth is economical in both terms of using their resources wisely and letting people see what is happening while not over promising the short term. Excellent summary! Thank you for your comment  |
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1 satoshi, 100 satoshi, 1000 satoshi, what it started at is irrelevant. Free market will determinate XBY's value via organic growth, and if it thinks it is worth 1b+ dollars once everything is in place (and there is good chance it will imo) then it will reach it.
ICOs are scams and are illegal, plain and simple.
Absolutely and to take it further is only a matter of adding ZERO's.... The market will always decide, just like they continue to decide the price of Bitcoin which was once considered impossible to reach parity with the USD.  Thanks for all your comments and help, Boss! |
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It always makes me smile when I see disbelief regarding general price predictions for XBY. For me, being shoulder to shoulder with Borzalom since last February, the feeling I have when I see these comments is along the lines of; watch and see what happens! So, today, I decided to post this message for some thought provocation, here on the forum and in our other channels. Why is it so hard to believe XBY can become a multi-billion dollar platform? I think the main reason is that we started at 1 satoshi... this brings a big psychological barrier. That needs to be repeated (psychological barrier). What if we did an ICO for XBY (which apparently is what most of the old timers expect) with the tech being released out of the box and onto the market, intact and working? Would that change opinions if we started at 5000 or 50,000 satoshis? How high could our market cap be six months after that? What if we remained silent for all these months and built the tech behind the scenes and launched a massive media campaign to break out into the crypto scene? How high would our price rise if we took that approach? What if the ONLY thing different from that actual XTRABYTES story was that we started like all the other coins? Would it be easier to see the vision? Or are the varying levels of disbelief simply people who don't want to believe or want to steer others away from the inevitable mass price increases caused by our run up to full tech releases? I think this is a rather interesting subject... I also think people are grossly under estimating what can happen here as we prepare for the future releases and proper corporate style alignment within the XTRABYTES community. Day after day, more and more new and interesting people from all backgrounds are showing up at our doorsteps, asking questions and getting involved. Some of these people are bringing high level skill sets and experiences with them and they will eventually become part of the Core TEAM which helps Borzalom and myself achieve the ultimate goals for this project. Those of you getting involved in these early days will be very happy campers after a few more years have passed.  |
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I'm regret for purchasing too little amount of XBY. Other than masternode, can XBY be stake?
We dont have masternodes, we have something even better called static nodes which have more usecases. And XBY dont stake. All coins are already out in the hand of investors. But static nodes earns fees from transactions on the network and from people buying a node and then having to pay a registration fee. So it can be a pretty juicy business in the end holding several nodes and then imagining all the transactions taking place on a platform with endless DApps build upon it. Here is someone who is seeing the big picture at XTRABYTES! Great job and thank you for participating here on the forum also. We will be making a FULL post in the near future when we finalize the fees system for registering your STATIC nodes. For now, what we have shared is this: The first STATIC registered on each level (Level 1 already has 448) will pay ZERO fees and the last registered will pay the MAXIMUM fee. This will be scaling fees system that is being designed to inspire a balanced fill of the 3 levels of STATIC nodes. Keep in mind that these fees are shared with the STATIC network ONLY... Therefore, 100% of the fees is an income if you own a STATIC node, and as Nick has pointed out in his post - more income will result when the DApps start coming online in the future. Thank you for you post! Dave |
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Guys the novaexchange markets for XBY are still not listed @ coinmarketcap  I'm not sure but this shouldn't take weeks to appear, should it? They have already been contacted again! Thank you |
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SLACK OPEN AGAIN https://xtrabytes-xby.herokuapp.comAnyone wanting to participate in initial usage of XFUEL will be rewarded with 100 XFUEL just for downloading the wallet and joining our Slack. When you get in Slack, please enter the #xfueltrading room and post your wallet address. Your XFUEL will go out in the next batch. Thank you! This offer is valid for the first 100 NEW members who post their wallet address in #xfueltrading. We are building up to a very big test in the near future! Thank you! The XTRABYTES Crew |
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Oh wow you guys must be confident in your tech if you are throwing this out there, paging Snowden now Just keeps getting better and better!!! Confident - Yes But, this is a very important test because as mentioned, the full tech is XTRABYTES and we want to see if there are holes before we release the main platform. We appreciate the assistance and will happily pay the reward for someone to help us with something we may have missed. Thank you! |
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HACK TEST COMPETITION We are offering 1 million XFUEL to anyone who can send us a WRITTEN DESCRIPTION of a hack through our PoSign system. Rules:1. DDOS does not qualify - this system is only on 6 servers currently and eventually 10. 2. Must send written description - If you actually hack through you are disqualified from the prize. We are looking for someone to find a solution to changing the blocks and/or execute invalid transactions. ( again, executing the hack = disqualification ) The purpose of this test is to reveal any holes that need to be patched. XFUEL is not only the development token for XTRABYTES it is also Proof of Tech and it is also good for "target practice" so that we can make sure the XTRABYTES platform is locked down before it goes live with the other 2 layers of tech ( VITALS and PULSE ). If you discover a hack, please send it by DM ( private message - here on the forum ) to me: CCRevolution and it will be verified. After we have patched the hack, it will be published and the XFUEL prize will be delivered. Thank you! Dave and Zoltan |
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The more I think about it, Xfuel is a genius idea.
Xfuel is used as payment for the development of XBY but what gives it value?
Well once node registration opens XBY's supply is going to drop dramatically and the price will skyrocket off the back of that. People will be scrambling for a way to get nodes as cheap as possible. Dev team start selling their Xfuel and people buy it up to help part fulfil the node so Devs get paid. Not only that Xfuel can only be traded on X-Change so all those node holders are getting a kickback from transaction fees on using that module and this is only the beginning.
End result - Dev team gets funding, XBY has a huge network of nodes for stability, Xchange is a proven concept and more pairings will be added, Node holders are making $$$$'s off the service fees, everyone wins. It's incredible when you think about it!!!
Yes, this was (is) Borz's vision - Great summary! |
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Guys- So I read Borz statement in regards to XFUEL. He's stating that XFUEL will help the price of XBY not hurt it. Mainly because it pays devs to get work done. But isn't XFUEL literally just diluting my coins because we are adding coins to the market?
The money has to come from somewhere, my worry is all these coins on the market will just push continued selling pressure. As you can see the coin is not doing well in the market.
CONCERNED XBY OWNER
No. The target amount of XBY in circulation after development is 100 million. The XFUEL will not just be used to pay for all the development and marketing work that needs to be done, it also will go towards expanding the STATIC network. You will see much better what is happening here this week as we continue to roll out information. Thank you for sharing your concerns, we understand it is difficult to see at this stage. But, continue to be patient and you will see what this man is building for the crypto world. Dave |
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MARKETING TEAM LEADER We are happy to announce that over the last couple of days we have had a new team working in the background, sharing some ideas on Slack and otherwise brainstorming several more robust ideas. Now that they are ready to start revealing some of the up coming events for the future growth of XTRABYTES, it is with great pleasure that I introduce our new Marketing Team Leader! @enki has been a strong, vocal leader with our Slack for quite some time and has shown highly professional ability with writing and editing. He is 100% committed to the success of our XTRABYTES Community and I believe he will do an excellent job leading the rest of the marketing team and community members who choose to participate in all the things we have in store. Thank you Enki, for taking the lead on this task! On behalf of myself, the Board and the Community, Welcome to the TEAM! Dave and Zoltan |
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3. The person decides to set up a larger and more powerful VPS - result is further decentralization and more income potential for them.
Thanks quoted one option. Is split a must? Can static owner owns "not-splitted" node eg. "bigger" one than splitted ones? eg. more powerfull tho? I will have to get an answer for that from Borz. Thank you! OK, so after discussion, here is what we can say for now: 1. We will never force anyone to do anything. We don't make XFUEL mandatory to put in STATICS and we don't make it MANDATORY to buy. It will sell itself. 2. We will never force anyone to spend more money to get extra servers. But, the trust index of a server that has 1 STATIC is higher and therefore earns more rewards. But there are many factors that influence the trust index, such as: better hardware, high quality internet connection, old stable IP, lots of uptime and many other things. More details about how all this will work is going to be revealed over time and of course we will have all details available when registration opens again. The system that Borz is setting up is self balancing in every possible way for the best interest of the XTRABYTES community and the XBY network itself. Thank you again for your great questions. |
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3. The person decides to set up a larger and more powerful VPS - result is further decentralization and more income potential for them.
Thanks quoted one option. Is split a must? Can static owner owns "not-splitted" node eg. "bigger" one than splitted ones? eg. more powerfull tho? I will have to get an answer for that from Borz. Thank you! |
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STATIC owners will probably have to signal a majority threshold (maybe something like 95% like with SegWit back in July/August).
Also more than one node can be run on a machine, so probably not.
is running more nodes on one machine really good idea in general? No, its not the best idea because it does not help us to further decentralize. That said, if someone decides not to, we do not become more centralized because only the node split and since it remains on the same server there is no other measurable effect. Although this has not yet been mentioned by Borz, it will not surprise me to see a fee % reduction factor for STATICS that are on the same server/computer as another. This of course will motivate people to taking the time to set up another server. That said, here are a couple different scenarios we have already identified after a split: 1. The person decides to sell or break one of the STATICS, thus freeing the coins and STATIC for someone else to set up - result is further decentralization. 2. The person decides to set up an additional low cost VPS ( options exist for less than $10/year ) - result is further decentralization. 3. The person decides to set up a larger and more powerful VPS - result is further decentralization and more income potential for them. We encourage everyone to have only 1 local STATIC per machine in their house and otherwise to use VPS. This is the most logical and powerful solution. There are several options available for VPS and this is undoubtedly the most cost effective way to utilize the XTRABYTES STATIC system. Why bother paying the electricity/maintenance costs and having to monitor your STATICS to be online 24/7 when you simply take the time to set up the VPS? Thank you for the great question! |
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any news about the level 1 static node openings?
All 3 levels will open with fees explained as soon as the deposit wallet has had the necessary adjustments completed. Thank you for your interest! |
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XTRABYTES - maybe in 3 weeks! |
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How can we earn XFUEL? In the slack 47 people already got sent some from bikerleszno but why? Airdrop? These people have earned it by being part of our Slack Community for the last several months and being patient, contributing to ideas and many other aspects. Now, they are participating in the first transactions which also helps Borz monitor how the chain is doing. Soon, we will do another smaller promotion for NEW members of Slack. We will open the Slack again as soon as we have the first 100 legacy members with their first 1000 XFUEL. Thank you! I'm in XBY and in the slack since May  You need to log in and post your address... this info is in the Slack! |
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