[NEW XBY ANN] XTRABYTES - BECAUSE THE BLOCKCHAIN CAN BE BETTER

[fishfishfish313]

Gonna be an exciting few weeks leading up to Christmas if we can have tests.

I think that sounds very reasonable Fatoshi.

777 Q and A has been posted to Steemit: https://steemit.com/cryptocurrency/@xtrabytes/november-777-q-and-a-with-lead-developer-borzalom

Ok, guys:  Do yourself a favor.  Read this. Borz is telling us the problems with current blockchain and what he is coding to potentially solve them.

Limited blocksize vs. unlimited blocksize
Lot of energy required vs. no extra energy required
reward is given to miner vs. reward shared between the STaTiC ( service providers )
unneccesary work ( mathematical calculation ) vs. required security checks
all blocks stored to all miners vs. cloud type shared storage
fixed transaction cost  vs. service based cost ( cheap or zero transaction cost )
limited number of transactions vs. extreme high number of transactions
political governance problems ( not trust and anonym ) vs. provider releated and trust
p2p style network vs. overlay network

Take away all the stuff in the forum for 1 second.  Forget it for one minute.  And read that again.  Doesn't that interest you in the least?  I am not a developer and that interests the hell out of me.

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[SupremeGoose]

Gonna be an exciting few weeks leading up to Christmas if we can have tests.

I think that sounds very reasonable Fatoshi.

777 Q and A has been posted to Steemit: https://steemit.com/cryptocurrency/@xtrabytes/november-777-q-and-a-with-lead-developer-borzalom

Ok, guys:  Do yourself a favor.  Read this. Borz is telling us the problems with current blockchain and what he is coding to potentially solve them.

Limited blocksize vs. unlimited blocksize
Lot of energy required vs. no extra energy required
reward is given to miner vs. reward shared between the STaTiC ( service providers )
unneccesary work ( mathematical calculation ) vs. required security checks
all blocks stored to all miners vs. cloud type shared storage
fixed transaction cost  vs. service based cost ( cheap or zero transaction cost )
limited number of transactions vs. extreme high number of transactions
political governance problems ( not trust and anonym ) vs. provider releated and trust
p2p style network vs. overlay network

Take away all the stuff in the forum for 1 second.  Forget it for one minute.  And read that again.  Doesn't that interest you in the least?  I am not a developer and that interests the hell out of me.

Yes, amazing indeed. We need an infographics of this

PS: Can't wait for the second TestNet.

[crimealone]

50 XBY transaction fee per transaction?

So currently all static nodes get reward from transaction fees? And I need at least 120k coins to be a node,RIGHT?

[s_CRYPTO_nit]

Dev, where is your team?

[SupremeGoose]

50 XBY transaction fee per transaction?

Currently 50 XBY per transaction, but will be reduced later.

So currently all static nodes get reward from transaction fees?

How much XBY can I earn with a STATIC node

And I need at least 120k coins to be a node,RIGHT?

How much for a STATIC node


Hope that helps.

Thank you.

[synthgauge]

50 XBY transaction fee per transaction?

So currently all static nodes get reward from transaction fees? And I need at least 120k coins to be a node,RIGHT?

Ya u should be happy its not 125K usd at least. And its for level 3 node. These noobs and bottom feeders frequently replying in this thread have the mentality and intelligence level of a bacteria. If the cost of running a node was between 150K and 1.5 million they would sell kidneys and jump on board anyway, and u will do this too because u have similar mindset.

[crimealone]

50 XBY transaction fee per transaction?

So currently all static nodes get reward from transaction fees? And I need at least 120k coins to be a node,RIGHT?

Ya u should be happy its not 125K usd at least. And its for level 3 node. These noobs and bottom feeders frequently replying in this thread have the mentality and intelligence level of a bacteria. If the cost of running a node was between 150K and 1.5 million they would sell kidneys and jump on board anyway, and u will do this too because u have similar mindset.

You are so intelligent that you don’t talk like a normal human. Hmm, like what? Oh yes, bacteria.

[seethevalue]

50 XBY transaction fee per transaction?

So currently all static nodes get reward from transaction fees? And I need at least 120k coins to be a node,RIGHT?

Ya u should be happy its not 125K usd at least. And its for level 3 node. These noobs and bottom feeders frequently replying in this thread have the mentality and intelligence level of a bacteria. If the cost of running a node was between 150K and 1.5 million they would sell kidneys and jump on board anyway, and u will do this too because u have similar mindset.

lol..gotta laugh at that one lets see the difference between a successful coin and this one,
https://twitter.com/ProfFaustus/status/929276396295393280

listen if you want to be taken seriously and raise the price you must first lower the transaction fee, you people are mugs you don't get it, you want the price to do well? well lower the value of exchange so money can flow more freely and people can develop alternative projects so it's not just centralized but it has use for everyone else. they don't know how to drive a price up, they are lackluster and foolish, you want the price to be higher, and to do that you must set the rates lower, so people have reason to trade it. you are just suppressing the price by having such high fees, if you raise the price by lowering fees then people would buy into the coin,
you have the intelligence of bacteria you fool. look how bitcoin cash explodes while you ramble and can't notice the inadequate value that was the first miss-take made. charge 50 a coin? it's clearly to high and clearly a nonsense price.

[seethevalue]

you should be setting the rates lower than bitcoin cash, to drive up the price therefore the intent is to have a higher price, because then you need less fees, it's pure foolish ideology having it so high, it benefits nobody.

[seethevalue]

you should be setting the rates lower than bitcoin cash, to drive up the price therefore the intent is to have a higher price, because then you need less fees, it's pure foolish ideology having it so high, it benefits nobody.

add to this statement,

having the price high for transactions says we don't have confidence in this coin. thats what message it sends, therefore if you had confidence you'd have the transaction fee low, because it would drive up the price of the coin. more people would use it and therefore you'd make more cash in time from holding the nodes, you by having it high as a actual fact lowers incentive to trade therefore make less.

if you want to make more have confidence and lower it to .00002 the is no point in having it high set it lower forever and just watch the volume increase.


i hope some people with some money and common sense take over these nodes they might make some better progress. the people running the coin at the moment are poor of mind.

putting it high makes no logical sense. no incentive to trade or anything, it's not about current value price. it's about future prediction price and you won't get a future prediction price by charging so much coins. it's dumb.

the coin has loads of potential but the people running it have no sense.

50 a coins is to high, it just is it's not going to drive the price and the goal is to drive the price therefore you'd make more by driving the price up, but you have suppressed growth by having a 50 charge. therefore you made a miss-take, therefore the coin is not going anywhere. if you want to make more cash and for everything to be profitable quicker you lower price, it's not rocket science you create confidence this way, it's obvious.

you are going to get less transactions by the charge being high it's maths, you decrease incentive less people trade less money made.

https://twitter.com/ProfFaustus/status/929276396295393280

[seethevalue]

Xtrabytes is not delivering like Bitcoin Cash.

https://twitter.com/ProfFaustus/status/929276396295393280

the people here don't know how to increase trade.

[bigboss154]

50 XBY transaction fee per transaction?

Currently 50 XBY per transaction, but will be reduced later.

So currently all static nodes get reward from transaction fees?

How much XBY can I earn with a STATIC node

And I need at least 120k coins to be a node,RIGHT?

How much for a STATIC node


Hope that helps.

Thank you.

I think there is going to be zero fees between trusted members on your address list (something like friends) if I remember.

[seethevalue]

50 XBY transaction fee per transaction?

Currently 50 XBY per transaction, but will be reduced later.

So currently all static nodes get reward from transaction fees?

How much XBY can I earn with a STATIC node

And I need at least 120k coins to be a node,RIGHT?

How much for a STATIC node


Hope that helps.

Thank you.

I think there is going to be zero fees between trusted members on your address list (something like friends) if I remember.

sound irrelevant it's going to be worthless if they don't change their approach. the point is they make more if they drive more trade therefore create incentive for trade. these people don't know how to run a business clearly. all you do to run it properly you create incentive for more trade. the way it's currently done is 100 percent nonsense. you don't need any more evidence than this statement to prove they are not going to increase the value with that attitude, they would lower it immediately if they had any confidence in what they are doing. they don't.

the reason it's done like this is to create more use cases to increase trade volume, you are not increasing trade volume by keeping it high. even if currently lower in price, you won't increase trade volume. to get trade volume you must lower the cost of exchange.. it's really obvious but not to the greedy and them that confidence. it's gone down since you raise that price anyway.

[seethevalue]

The person who made the comment about bacteria clearly a fool,

because he would make more from trade volume increasing. clearly cannot project the future wants a high price for coin exchanged and cannot see past his own greed, to understand less is more. but never mind, his node holding would balance out the loss, by the price rise.
but fools will fools, and greedy ones often lose out from being to greedy.

simple truth is a trade volume increase would make you more cash in the long run and a price rise would even it out. by having the price high is suppressing trade volume. obviously these clowns don't factor in trade volume in the equation because they are to short sighted.

notice how the is no mention of trade volume in his post, because they have not factored any increase in by dropping the price of exchange, it's a miss-take having it high in the first place.

if you want to increase adoption, you set it low no matter what and if you want to drive price , by setting the price lower you increase adoption, therefore increase trade volume and trade volume is where you make the cash.

they don't want to increase trade volume so they want to make little cash. they make no sense.
the only sense they make is to themselves and their own low expectations, due to their agenda of not lowering it, because they create the situation to keep the coin low, and have already done some serious damage by introducing the idea in the first place.

if they don't quickly lower the cost of coins, then they clearly show they do not understand what it takes to drive trade and increase volume.

[CCRevolution]

@Seethevalue

There are factors you are leaving out, such as the fact that there are changes coming but will not do that at this time because its a major update to the wallet and the last time we did an update it took about 2 months for Yobit to get us back online and Cryptopia about 2 weeks. The next change we make will have all factors considered.

Aside from that, please do us all a favor and make a direct comparison to how Bitcoincash or whatever other Bitcoin clone you wish to choose pays their miners and secures their network, to how we do things here at XBY. Then also make a comparison to the level of security offered and all the other critical elements that are often flaws with Bitcoin clones. This will help us all understand if you actually know the XTRABYTES technology or not. Seems you know something and perhaps your opinions are very good for people to read and listen to. But, lets make sure you have done your XBY homework first.

Thank you

[seethevalue]

@Seethevalue

There are factors you are leaving out, such as the fact that there are changes coming but will not do that at this time because its a major update to the wallet and the last time we did an update it took about 2 months for Yobit to get us back online and Cryptopia about 2 weeks. The next change we make will have all factors considered.

Aside from that, please do us all a favor and make a direct comparison to how Bitcoincash or whatever other Bitcoin clone you wish to choose pays their miners and secures their network, to how we do things here at XBY. Then also make a comparison to the level of security offered and all the other critical elements that are often flaws with Bitcoin clones. This will help us all understand if you actually know the XTRABYTES technology or not. Seems you know something and perhaps your opinions are very good for people to read and listen to. But, lets make sure you have done your XBY homework first.

Thank you

thats irrelevant the price is clearly to high, because you don't create trade incentive, nobody cares about all that, if you are not willing to lower the price to increase volume of trade, it's all about trade. thats what everything comes down to. how much trade flows. trade is the driver of everything.  

bitcoin cash creates a high trade, incentive to trade. you don't.

you might have a good coin if you created a high trade incentive you don't, therefore what you said here is irrelevant, highly irrelevant. nobody cares if the is no trade incentive.  

[tuanavu]

you should be setting the rates lower than bitcoin cash, to drive up the price therefore the intent is to have a higher price, because then you need less fees, it's pure foolish ideology having it so high, it benefits nobody.

Agree when lower fee more trading more cash in..1 XBY fee is best roght now
Examples:you got 1000 transactions at 50XBY but if its lower to 1XBY it may drive
Up to 1000000 per day include the price increase guess which
Way is better..vote for lower fee at 1XBY

[seethevalue]

you should be setting the rates lower than bitcoin cash, to drive up the price therefore the intent is to have a higher price, because then you need less fees, it's pure foolish ideology having it so high, it benefits nobody.

Agree when lower fee more trading more cash in..1 XBY fee is best roght now
Examples:you got 1000 transactions at 50XBY but if its lower to 1XBY it may drive
Up to 1000000 per day include the price increase guess which
Way is better..vote for lower fee at 1XBY

it should be 0.1 at most. not 1. it should be 0.01 probably right now, the way he replied clearly shows he's a fool. he did not say anything on how he will increase trade volume thats some high denial right here, i'd suggest putting it at 50 has certainly suppressed growth of this coin.

i'd put it personally at .0001

[fishfishfish313]

Seethevalue, your argument is flawed.

1. Bitcoin Cash is a POW coin, and coins are minted by miners, who often times, sell their coins on the market (not like Bitcoin Cash needs any liquidity at this point)

2. Most traders do not even move their coins to a personal wallet, they might move them between exchanges, but saying that a transaction fee will deter people from trading?  The tx fee of XBY is much cheaper than BTC.  Traders just buy low and sell high.  I'm a trader man.  And I couldn't care less about a coins transaction fee, especially if I never intend to hold the coins or keep them in a personal wallet in the first place   I moved my XBY to my wallets and there it stays.

3. New XBY coins are not minted in any way.  Now, you may have an argument there, as no coins are created from POW or POS mining to facilitate selling to create volume.  That should be your argument.  I can see how keeping nodes would deter from trading, precisely because there are no coins minted by keeping a STATIC.  That will change when node holders are given transaction fees and are paid by acting as service providers.  It will happen.  Just not at this time.  Lowering transaction fee would do nothing.  If you are griping about a 75 XBY transaction fee on Cryptotopia but are sending BTC in and out for a 0.00100000 fee than you have nothing to complain about.  Or, just  sell everything you want to move to DOGE and withdraw that way  

[seethevalue]

Seethevalue, your argument is flawed.

1. Bitcoin Cash is a POW coin, and coins are minted by miners, who often times, sell their coins on the market (not like Bitcoin Cash needs any liquidity at this point)

2. Most traders do not even move their coins to a personal wallet, they might move them between exchanges, but saying that a transaction fee will deter people from trading?  The tx fee of XBY is much cheaper than BTC.  Traders just buy low and sell high.  I'm a trader man.  And I couldn't care less about a coins transaction fee, especially if I never intend to hold the coins in the first place

3. New XBY coins are not minted in any way.  Now, you may have an argument there, as no coins are created from POW or POS mining to facilitate selling to create volume.  That should be your argument.  Lowering transaction fee would do nothing.  If you are griping about a 75 XBY transaction fee on Cryptotopia but are sending BTC in and out for a 0.00100000 fee than you have nothing to complain about.

no it's about number of coins kept not current price "it's flawed" you are just another fool who can't see it effects trade volume.

your the one who's flawed. it's not about how much it currently costs, it's not about this at all. you clown.

you charge to much in your coin meaning they cannot keep the coin when it rises they lose out on more value. making it less attractive to purchase less attractive to trade, less attractive to use as a currency.

get to grips with the reality of psychological it has on people. you don't understand psychology if you did, you'd lower the price now.

run by idiots.