[GBYTE] Byteball Speculation

[RamBahadur.Gurung]

Price is soaring again while we getting nearer to the next distribution on 7th August. What do you think will the price collapse again as it did after the last distribution or will it be more stable since the unsecurity caused by Bitcoin is off the table now?

I guess that it is going to collapse again. 90% of those who get their Byteball coins will be selling all of their coins within the next 1-2 days. Only the remaining 10% are going to hold them.

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[LoyceV]

I guess that it is going to collapse again. 90% of those who get their Byteball coins will be selling all of their coins within the next 1-2 days. Only the remaining 10% are going to hold them.

You seem to forget every seller has a buyer too
I also expect the distribution model to change a bit for the next round, making holding Byteball relatively more rewarding and holding Bitcoin relatively less rewarding.

[cryptounicon]

Been thinking about getting on the train with this coin, prices seem pretty good now....but idk if price might dilute more.

[European Central Bank]

Been thinking about getting on the train with this coin, prices seem pretty good now....but idk if price might dilute more.

if you buy now you're throwing money away. new coins arrive tomorrow and then people dump. wait a little while after that.

[CryptoWinner]

Last full moon the byteball price was growing because ppl bought for 20% bonus. Now the price decreases before airdrop... I don't understand

[European Central Bank]

Last full moon the byteball price was growing because ppl bought for 20% bonus. Now the price decreases before airdrop... I don't understand

a quasi exchange got a huge amount on the last round despite the developer trying to prevent it so it's possible they were dumping like crazy all the way through.

[holden.commodore]

the distribution rules have changed, you can check it here: https://bitcointalk.org/index.php?topic=1608859.msg20686283#msg20686283
Now since bitcoin holders must have 10x more bitcoin (160) to get 1 free gbyte, they might want to buy gbyte directly for better rewards.

[LoyceV]

Last full moon the byteball price was growing because ppl bought for 20% bonus. Now the price decreases before airdrop... I don't understand

Last round people speculated to get the 20% extra, but it turned out to be less than the decrease in value.
Therefore people now speculate on selling first, so I wouldn't be surprised to see the price drop a lot less tomorrow.

the distribution rules have changed, you can check it here: https://bitcointalk.org/index.php?topic=1608859.msg20686283#msg20686283
Now since bitcoin holders must have 10x more bitcoin (160) to get 1 free gbyte, they might want to buy gbyte directly for better rewards.

The rules didn't change yet, the rules change after today's airdrop:

After August 7 we'll reach more than 50% distributed coins and will start a new phase of our distribution.

It was stated from day one that the purpose of this distribution is to get this coin into the hands of as many people as possible.  Both coins (bytes and blackbytes) are meant to be used as currencies, and this is only possible when there are many users and apps to interact with.  We already have a sizable community, a number of unique apps, and we are the only crypto project to have an app distribution platform (the Bot Store), but there is still a lot of room to grow in terms of user count, number of apps, and willingness of users to use these apps.

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.

[tyz]

Thanks this is new to me. It is probably the best decision to prevent big dumps for distributions in the future. I welcome the step. This should stabilizes the price.
Few weeks back we saw a price of $920 now, it is one third. I feel sorry for those which bought on these highs :/

the distribution rules have changed, you can check it here: https://bitcointalk.org/index.php?topic=1608859.msg20686283#msg20686283
Now since bitcoin holders must have 10x more bitcoin (160) to get 1 free gbyte, they might want to buy gbyte directly for better rewards.

[barota]

0.130 good for buy ...or itwill drop more?

[bit555coin]

This has been a very nice drop for many people around .. congratulation to everybody who was involved so far.

Hope to see similiar movements in the future again.

[European Central Bank]

0.130 good for buy ...or itwill drop more?

my guess would be way more. the new coins haven't been issued yet.

if you want to hedge your bets then buy a little now but wait until that happens for the rest.

the distribution has also been changed and it's possible existing holders won't like it and dump. let's see.

and it sure ain't looking pretty with the first distribution for btc linked gbyte. are we gonna get sub 0.05?

[morpheus305]

Wondering with a 40 percent drop today it's not a good time for a short time buy.

[Strongkored]

0.130 good for buy ...or itwill drop more?

Now the price drop to 0.109 BTC, I think this is just for a while the price will go up again, you can buy now and I have some just to hold for long term period, cause this coin still under valued

[elite3000]

The last airdrop was huge, and most people will sell because Bitcoin already is rising, so they will prefer less risks and guaranteed profit.

I think Byteball will fall more

[Thinvestor]

Will be worth keeping a keen eye on the low to buy, will be 3 times the price soon enough

[Koontas]

Let's hope 0.1 will hold. Instant airdrop sellers are dumping right now. I personally believe in Tony and his team. Will hold my coins. But high supply will make it hard for price to drive up. IOTA hype hast not really started. Maybe this will help.

[tyz]

Yesterday was announced a rule change for next distributions. It is now more profitable to hold Byteballs instead of Bitcoin. You will get 0,00625 GB for every linked BTC. Before, it was 0,0625 BTC. But you still get 10% on your Byteball balance. I assume that the buy pressure will be stronger after the sell-off of yesterday's distribution is over.

Let's hope 0.1 will hold. Instant airdrop sellers are dumping right now. I personally believe in Tony and his team. Will hold my coins. But high supply will make it hard for price to drive up. IOTA hype hast not really started. Maybe this will help.

[alucard23]

It has to prove itself. Since the early days, Bitcoin crashed and recovered several times, more than 90%, before the market saw it as a good hedge against fiat.

[loreRex]

Bought GBYTE. The dip is too good to not try, the same price was seen only 4 months ago. Also with the new rules makes even more sense to hodl long term.