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Question: The result of our STATIC nodes poll was 500,000 coins on deposit for Level 1 STATIC nodes.
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Author Topic: [NEW XBY ANN] XTRABYTES - BECAUSE THE BLOCKCHAIN CAN BE BETTER  (Read 370314 times)
Fatoshi
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June 07, 2017, 05:02:41 PM
 #2021

I heard the developer and the team is meeting in Hungary the Week.

When will the website be done?
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June 07, 2017, 05:08:26 PM
 #2022

Looks like I see your project very promising for it, and I will be waiting for update details in your project.
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June 07, 2017, 05:37:27 PM
 #2023

I heard the developer and the team is meeting in Hungary the Week.

When will the website be done?

Next week!

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June 07, 2017, 07:20:55 PM
Last edit: June 07, 2017, 07:34:08 PM by aarell
 #2024

I asked in this question in the slack however it was difficult to clarify with a lot of conversation going on at the time.  As had been mentioned at times and pointed out in the most recent video there will at some later date be L2 nodes released - I am interested in the purpose of this as from what I was told there would not be technical differences, merely less upfront cost and less receivable income.

In terms of the quality of the network there is straightforward benefit:  more nodes = among other things further decentralization = better network.  However the purpose behind 'mininodes' I still find somewhat puzzling.  We can consider that by offering a lower price point more nodes will be adopted, this a good thing, however this would come with economic impact to the original, or L1 nodes, eventually deterring investor interest.

At this time the number of nodes is to be fixed to 512.  Under this circumstance we have a limited supply 512 nodes that have the right to receive income from the network - or in other words 500k XBY in a node is of greater value than 500k 'loose' XBY as it is effectively working harder.  The market determines that value by determining that interest rate, accounting for the associated risk, weighing alternate opportunities and eventually offering a flat price.  There is of course opportunity cost associated as the money can't be used for anything else over the duration it is tied up in the node.  To draw a comparison we could say a truck costing $500k being worked to near capacity should have greater economic value than $500k stashed under the mattress, but as long as the money is tied up in the truck it cannot be used to invest elsewhere.

By introducing a secondary tier at, for the sake of simplicity, half the price, it would then be possible to buy two smaller trucks capable of earning half the level of income each.  Like trucks computers or their connections somewhere along the line can and do fail for periods of time, we love decentralization as it addresses this issue.  If we have two then if one truck, or computer were to break down the other is still capable of earning for us.  As we never see an uptime of 100% with trucks or computers alike we can expect if we only have one it will from time to time leave us completely out of pocket, this is something that could be reasonably accurately calculated.  In addition to this a node cannot be partially sold, and like a truck it must be sold whole if it is to serve an identical purpose.  For these reasons I would argue the logical approach from an investment standpoint would be to own two smaller nodes - not only do you have some redundancy in terms of the revenue stream, but also the ability to partially sell off that revenue stream if or when required - greater liquidity.

With what I would consider more attractive nodes introduced at later dates I would suggest this devalues the big 'one piece' L1 nodes, and if we were to introduce L3 down to L20 nodes down the line the L1 begins to look like a significantly riskier behemoth, not only in terms of consistency of revenue but perhaps more importantly liquidity - it would be more difficult to find a buyer and cannot be sold partially vs being able to sell off for example 1/20th of that revenue stream.  In my opinion the more liquid alternative would be the far more desirable option.  We could consider offering some amount of fees to the higher level options which would offset this, but in terms of the quality of the network I do not find logic in offering more money for the same work.

So, I look to challenge my thinking and seek an argument as to why this system would work better than say, just splitting all existing nodes across one level? And why L1 node holders should not have concerns that their investment would economically speaking devalue over time?

You are deep Karl. Maybe Borz can read and reply when he has time. He probably won't fear this topic and call you a fudder lol. Good luck!
He doesn't know how the price of cryptocoin is determined, you think he is very deep and you expect that borzalom will answer to him. According to him supply determines the price, so I have a coin ACP in my portfolio which has a supply of 6.8 million and trading at 120 sat. Any explanation why the price is low. Actually it is demand which controls the price.
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June 07, 2017, 09:21:48 PM
 #2025

Can anybody please provide links to developer bios/credentials. Trying to figure out if this is a serious project or someone's way of trying to get back money they got scammed out of.

SHITCOINS ARE THE FUTURE
karlkennedy3000
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June 08, 2017, 01:00:08 AM
 #2026

I asked in this question in the slack however it was difficult to clarify with a lot of conversation going on at the time.  As had been mentioned at times and pointed out in the most recent video there will at some later date be L2 nodes released - I am interested in the purpose of this as from what I was told there would not be technical differences, merely less upfront cost and less receivable income.

In terms of the quality of the network there is straightforward benefit:  more nodes = among other things further decentralization = better network.  However the purpose behind 'mininodes' I still find somewhat puzzling.  We can consider that by offering a lower price point more nodes will be adopted, this a good thing, however this would come with economic impact to the original, or L1 nodes, eventually deterring investor interest.

At this time the number of nodes is to be fixed to 512.  Under this circumstance we have a limited supply 512 nodes that have the right to receive income from the network - or in other words 500k XBY in a node is of greater value than 500k 'loose' XBY as it is effectively working harder.  The market determines that value by determining that interest rate, accounting for the associated risk, weighing alternate opportunities and eventually offering a flat price.  There is of course opportunity cost associated as the money can't be used for anything else over the duration it is tied up in the node.  To draw a comparison we could say a truck costing $500k being worked to near capacity should have greater economic value than $500k stashed under the mattress, but as long as the money is tied up in the truck it cannot be used to invest elsewhere.

By introducing a secondary tier at, for the sake of simplicity, half the price, it would then be possible to buy two smaller trucks capable of earning half the level of income each.  Like trucks computers or their connections somewhere along the line can and do fail for periods of time, we love decentralization as it addresses this issue.  If we have two then if one truck, or computer were to break down the other is still capable of earning for us.  As we never see an uptime of 100% with trucks or computers alike we can expect if we only have one it will from time to time leave us completely out of pocket, this is something that could be reasonably accurately calculated.  In addition to this a node cannot be partially sold, and like a truck it must be sold whole if it is to serve an identical purpose.  For these reasons I would argue the logical approach from an investment standpoint would be to own two smaller nodes - not only do you have some redundancy in terms of the revenue stream, but also the ability to partially sell off that revenue stream if or when required - greater liquidity.

With what I would consider more attractive nodes introduced at later dates I would suggest this devalues the big 'one piece' L1 nodes, and if we were to introduce L3 down to L20 nodes down the line the L1 begins to look like a significantly riskier behemoth, not only in terms of consistency of revenue but perhaps more importantly liquidity - it would be more difficult to find a buyer and cannot be sold partially vs being able to sell off for example 1/20th of that revenue stream.  In my opinion the more liquid alternative would be the far more desirable option.  We could consider offering some amount of fees to the higher level options which would offset this, but in terms of the quality of the network I do not find logic in offering more money for the same work.

So, I look to challenge my thinking and seek an argument as to why this system would work better than say, just splitting all existing nodes across one level? And why L1 node holders should not have concerns that their investment would economically speaking devalue over time?

You are deep Karl. Maybe Borz can read and reply when he has time. He probably won't fear this topic and call you a fudder lol. Good luck!
He doesn't know how the price of cryptocoin is determined, you think he is very deep and you expect that borzalom will answer to him. According to him supply determines the price, so I have a coin ACP in my portfolio which has a supply of 6.8 million and trading at 120 sat. Any explanation why the price is low. Actually it is demand which controls the price.

Yeah demand is the other side of it, well done mate.
robelneo
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June 08, 2017, 02:42:08 AM
 #2027

Had issue with my wallet,I transfer my wallet to my other computer and all my coins balance but when I run the wallet I had a notification that my wallet will not work properly if the time and date is not correct,but my time and date is correct I cannot see how many blocks to go because of this notification,so what is the correct time for Xtrabyte wallet

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June 08, 2017, 04:58:36 AM
Last edit: June 08, 2017, 06:21:24 AM by vanfly
 #2028

Issue 02 of "THE XTRABYTE" available now!
http://docdro.id/SoNLMUW
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June 08, 2017, 05:28:21 AM
 #2029

Issue 02 of "THE XTRABYTE" available now!
http://docdro.id/SoNLMUW

Newsletter 2 is excellent !
http://docdro.id/SoNLMUW
bikerleszno
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June 08, 2017, 08:11:44 AM
 #2030

Great work!

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June 08, 2017, 11:03:33 AM
 #2031

We are preparing instruction with print screens for all linux users and especially node owners how to install xby wallet, configure it and keep it running online on linux platform Smiley It will be ready today evening or tommorow Wink

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June 08, 2017, 12:36:15 PM
 #2032

We are preparing instruction with print screens for all linux users and especially node owners how to install xby wallet, configure it and keep it running online on linux platform Smiley It will be ready today evening or tommorow Wink

Great stuff
Obviously it will be the wallet without a GUI for us node owners to put on a VPS?
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June 08, 2017, 01:04:41 PM
 #2033

Great job! It's really great to see that are developments that proof that this is a on-going-project with real developments, real people and a strong community backing it and even helping on it. Still suprised that people don't believe this is real...guess they will slap themselfs real hard when even bigger things (and with that bigger prices) come. It's not too late now but it can be too late real fast.
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June 08, 2017, 09:08:19 PM
 #2034

I got recommended XBY from another investor. I did some research and I really liked the sound of it. I thought about spreading my money about in other coins, but instead have put it all in here. I have literally put all my eggs in an XBY basket! I hope they hatch! Cheesy
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June 08, 2017, 09:10:25 PM
 #2035

I wish you even more success with coin
You are still in first 100 , Keep it up! Smiley
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June 08, 2017, 10:04:04 PM
 #2036

I got recommended XBY from another investor. I did some research and I really liked the sound of it. I thought about spreading my money about in other coins, but instead have put it all in here. I have literally put all my eggs in an XBY basket! I hope they hatch! Cheesy

Haha, sounds familiar. I see so many good projects but whenever I reevaluate things, I keep deciding that this project is so much better to HODL and I am waiting for my next paycheck to get more.
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June 08, 2017, 10:15:40 PM
 #2037

Had issue with my wallet,I transfer my wallet to my other computer and all my coins balance but when I run the wallet I had a notification that my wallet will not work properly if the time and date is not correct,but my time and date is correct I cannot see how many blocks to go because of this notification,so what is the correct time for Xtrabyte wallet

PM me screenshot?


Have you tried redownloading wallet & blockchain?
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June 09, 2017, 12:55:08 PM
 #2038

The currency that does not trade in the  bittrex and poloniex  is not good
Fatoshi
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June 09, 2017, 02:41:58 PM
 #2039

The currency that does not trade in the  bittrex and poloniex  is not good


The developers choose it that way. You really judge a.coin by the exchange withput looking a bit deeper? Lol

The plan is to wait for the tech before we move to bigger exchanges. When that time comes they will come to us not us beg to be on them believe me.
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June 09, 2017, 02:43:08 PM
 #2040

The currency that does not trade in the  bittrex and poloniex  is not good


The developers choose it that way.

This is a fairly new coin.......  give it time.... Smiley

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