[XBY] XtraBYtes Speculation

[cryptoyachtclub]

* KYC for STATIC nodes. This is of course an attack surface and causes the project to be even more centralized. And isn't it ironic that we all must respect the founders' right to anonymity, while they themselves impose KYC on others.
* A flat 10% fee for setting up a STATIC node. The company in other words hang on like a leech to the blockchain, siphoning funds.
* Various fees for building dapps, on trademark usage, and on patents and patent technologies. What developer teams would like to pay all this? None. They will build on other platforms like ETH.
* TRUST scores for STATIC nodes. This will be gameable. The more parameters included to calculate a trust score, the higher the probability of someone gaming the system which again makes the chain more centralized.
* Issuance of XIP tokens means even more money to founders/team members. Issuing XFUEL from thin air was not enough, the greed doesnt stop. Investors, look out for a fourth token for even more value dilution.

Even with the best mobile wallet in the world, the project can't run away from these bad fundamentals.

This is all not final as I understand. As you can see there are notices under sensitive plans

Example https://blog.xtrabytes.global/xtrabytes/xby-technology/statics-and-more/

What is the estimated rewards percentage?
The founders have designed a system that provides exceptional flexibility and maximum payouts to the STATIC owners. As such, it utilizes a rewards system that initially pays 100% of all fees to the STATIC network.

Internally, the XTRABYTES corporations will earn money through licensing fees. By doing so, we will not have to adjust payout percentages for STATIC owners.

Every Dapp, protected element, and the tech itself will have licensing fees attached to it. For example:

Use of patents or patent pending technologies will require a base fee of 10-25% of the fees received by your STATIC node.
Each Dapp you host will result in a fee of 5-15% of the fees generated by the Dapp.
Trademark usage will be covered by a 2-7% fee charged against all fees received by your STATIC node.
Corporate and legal expenses will be covered by an additional 1-3% fee based on all activity and fees generated by your STATIC node.
Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.

As you can see "Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.", that means they want to hear a community feedback, and make an ajustments based on community opinion and node holders.

Same here https://blog.xtrabytes.global/xtrabytes/xby-community/governance-model-introduction/

Proposed Governance Model:

Do I have to explain you what "Proposed" word means?

KYC for example is something I personally don't like as well. But I can live with that.


 

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[cryptoyachtclub]

Who cares about that mobile wallet, honestly?

Who needs a blockchain platform without usable client? Imagine XTRABYTES will launch mainnet now, and now what? How it will be usable without a client? How people will interact with a blockchain?

You have no idea what XCITE is, you have no clear understanding of the goals of XTRABYTES.

It's a mobile wallet. I have been in crypto for years without ever using one. Most people use desktop- or web wallets.

XCITE is a cross-paltform client. I'm currently helping to beta test mobile version of the client (it's cool by the way). Read about XCITE to understand it's purpose https://github.com/XTRABYTES/XCITE 

Just to store xby they have a paper wallet, and it's available ages ago https://paperwallet.xtrabytes.global

[Sabih]

Correct me if I am wrong. The current blockchain is a bitcoin fork with proof of work removed or like you say, the old Bitmox scam blockchain. After two years, now, you accomplished releasing a client for this old blockchain technology, while claiming for two years, your only one developer, who is anonymous but known to be a web developer in his former life, has invented a revolutionary blockchain technology. But instead of releasing this technology you prefer to patent it which did not happen for the last two years. No one ever had access to that code or can even verify it to exist.

So your client, you have released or are about to release is still based on that old Bitmox scam blockchain or better said Bitcoin fork with PoW removed, because those developers have no access to your new revolutionay technology, if it even exists.

Tell me, if this sounds reasonable for you and explain it in detail. If I am wrong, correct me with verifiable proofs, not just empty words.

[cryptoyachtclub]

1 developer? They have 12 developers https://xtrabytes.global/team

The XCITE client can be easily switched to the new blockchain, read about SSS https://github.com/XTRABYTES/SSS

Old patched Bitmox blockchain code is just like ERC20 token, before mainnet launch. Why you don't understand it?

[doucie1]

Correct me if I am wrong. The current blockchain is a bitcoin fork with proof of work removed or like you say, the old Bitmox scam blockchain. After two years, now, you accomplished releasing a client for this old blockchain technology, while claiming for two years, your only one developer, who is anonymous but known to be a web developer in his former life, has invented a revolutionary blockchain technology. But instead of releasing this technology you prefer to patent it which did not happen for the last two years. No one ever had access to that code or can even verify it to exist.

So your client, you have released or are about to release is still based on that old Bitmox scam blockchain or better said Bitcoin fork with PoW removed, because those developers have no access to your new revolutionay technology, if it even exists.

Tell me, if this sounds reasonable for you and explain it in detail. If I am wrong, correct me with verifiable proofs, not just empty words.

lol yeah he is a web dev but managed to alter the bitcoin code to remove the pow element and replace it with a non mining algo. I would say that makes his skill level a bit above a web dev.

[Sabih]

https://www.reddit.com/r/CryptoTechnology/comments/8e5xm7/xtrabytes_posign_code_150_lines_of_c_for_review/

It's mostly a copy of the Bitcoin code as you noted, a few mentions of "PoSign" were added but I didn't manage to find any complete definition of the functions. There are actually some comments like //FIXME or functions that don't seem to do anything. It feels like the Bitcoin code with PoW disabled basically.

https://www.reddit.com/r/XtraBYtes/comments/a8k85g/moderators_of_xby_how_many_of_you_have_seen_the/

Hm, there is no confirmation that anyone had access to the code. It was said that Allen and Ashley got access, but both have no professional portfolio of anything related to programming to approve something. I can not find anything related to these so called 12 developers having access to the revolutionary blockchain technology.

This leads me back to my basic question, what exactly are you defending. It it hard to believe you are not involved but defending this. Without any facts given, you are part of the scam. Any reasonable investor would prefer the truth being revealed instead of defending an empty project.

The XCITE client can be easily switched to the new blockchain, read about SSS https://github.com/XTRABYTES/SSS

Impossible to approve this rumour. Since there is no technology released this is just empty words you need to believe, and this is going for more than 2 years now.

[XBY-Guy]

* KYC for STATIC nodes. This is of course an attack surface and causes the project to be even more centralized. And isn't it ironic that we all must respect the founders' right to anonymity, while they themselves impose KYC on others.
* A flat 10% fee for setting up a STATIC node. The company in other words hang on like a leech to the blockchain, siphoning funds.
* Various fees for building dapps, on trademark usage, and on patents and patent technologies. What developer teams would like to pay all this? None. They will build on other platforms like ETH.
* TRUST scores for STATIC nodes. This will be gameable. The more parameters included to calculate a trust score, the higher the probability of someone gaming the system which again makes the chain more centralized.
* Issuance of XIP tokens means even more money to founders/team members. Issuing XFUEL from thin air was not enough, the greed doesnt stop. Investors, look out for a fourth token for even more value dilution.

Even with the best mobile wallet in the world, the project can't run away from these bad fundamentals.

This is all not final as I understand. As you can see there are notices under sensitive plans

Example https://blog.xtrabytes.global/xtrabytes/xby-technology/statics-and-more/

What is the estimated rewards percentage?
The founders have designed a system that provides exceptional flexibility and maximum payouts to the STATIC owners. As such, it utilizes a rewards system that initially pays 100% of all fees to the STATIC network.

Internally, the XTRABYTES corporations will earn money through licensing fees. By doing so, we will not have to adjust payout percentages for STATIC owners.

Every Dapp, protected element, and the tech itself will have licensing fees attached to it. For example:

Use of patents or patent pending technologies will require a base fee of 10-25% of the fees received by your STATIC node.
Each Dapp you host will result in a fee of 5-15% of the fees generated by the Dapp.
Trademark usage will be covered by a 2-7% fee charged against all fees received by your STATIC node.
Corporate and legal expenses will be covered by an additional 1-3% fee based on all activity and fees generated by your STATIC node.
Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.

As you can see "Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.", that means they want to hear a community feedback, and make an ajustments based on community opinion and node holders.

Same here https://blog.xtrabytes.global/xtrabytes/xby-community/governance-model-introduction/

Proposed Governance Model:

Do I have to explain you what "Proposed" word means?

KYC for example is something I personally don't like as well. But I can live with that.


 

Good post sir!

Sabih is an obvious aggressive fudster and manipulator, and he's pretending to be stupid when he wants, and usually spreading misinformation and nothing else, and repeting the same trash over and over again. Don't waste your time.

[Sabih]

Related to the trading volume no one is wasting his time with your scam, and probably this is the only reason you are trying to get momentum. Without anything significantly just trying to pump it up.

[cryptoyachtclub]

The biggest scam in crypto, is people who call non-scam projects a scam.

Some easily judge without knowing the project, they just simply check the price and the volume, if it does not pass on their standard, they call it shitcoins or scam coins. That's normal I guess, we just have to do it based on our own decision and don't listen to other people's judgement.

I followed an advice of the guy who said that Bitcoin is shit and bubble, and it will never succeed. It was 10 years ago, when Bitcoin was shilled everywhere, across business boards and so on. And you know what, I bought 7 years later. From now on I'm using my own brain.

[cryptoyachtclub]

Sabih, do you understand that most successful crypto projects have only 1 talented core developer, and all other developers simply helping him?

[Sabih]

Comparing is no good idea since there is nothing significantly released for two years..

[cryptoyachtclub]

* KYC for STATIC nodes. This is of course an attack surface and causes the project to be even more centralized. And isn't it ironic that we all must respect the founders' right to anonymity, while they themselves impose KYC on others.
* A flat 10% fee for setting up a STATIC node. The company in other words hang on like a leech to the blockchain, siphoning funds.
* Various fees for building dapps, on trademark usage, and on patents and patent technologies. What developer teams would like to pay all this? None. They will build on other platforms like ETH.
* TRUST scores for STATIC nodes. This will be gameable. The more parameters included to calculate a trust score, the higher the probability of someone gaming the system which again makes the chain more centralized.
* Issuance of XIP tokens means even more money to founders/team members. Issuing XFUEL from thin air was not enough, the greed doesnt stop. Investors, look out for a fourth token for even more value dilution.

Even with the best mobile wallet in the world, the project can't run away from these bad fundamentals.

This is all not final as I understand. As you can see there are notices under sensitive plans

Example https://blog.xtrabytes.global/xtrabytes/xby-technology/statics-and-more/

What is the estimated rewards percentage?
The founders have designed a system that provides exceptional flexibility and maximum payouts to the STATIC owners. As such, it utilizes a rewards system that initially pays 100% of all fees to the STATIC network.

Internally, the XTRABYTES corporations will earn money through licensing fees. By doing so, we will not have to adjust payout percentages for STATIC owners.

Every Dapp, protected element, and the tech itself will have licensing fees attached to it. For example:

Use of patents or patent pending technologies will require a base fee of 10-25% of the fees received by your STATIC node.
Each Dapp you host will result in a fee of 5-15% of the fees generated by the Dapp.
Trademark usage will be covered by a 2-7% fee charged against all fees received by your STATIC node.
Corporate and legal expenses will be covered by an additional 1-3% fee based on all activity and fees generated by your STATIC node.
Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.

As you can see "Please note that the statements above are subject to change as they’re simply examples. While we believe they’re realistic, they will not be finalized until further review.", that means they want to hear a community feedback, and make an ajustments based on community opinion and node holders.

Same here https://blog.xtrabytes.global/xtrabytes/xby-community/governance-model-introduction/

Proposed Governance Model:

Do I have to explain you what "Proposed" word means?

KYC for example is something I personally don't like as well. But I can live with that.


 

Good post sir!

Sabih is an obvious aggressive fudster and manipulator, and he's pretending to be stupid when he wants, and usually spreading misinformation and nothing else, and repeting the same trash over and over again. Don't waste your time.

I don't think I'm wasting my time here, I'm sharing information that can change people's beliefs.

Sabih, you always have on option to join the community and help with a development if you want to speed up things a bit. If you are in a state of disbelief, that's a different story, but fud is not an option.

[Sabih]

Without access to the code any development is not just impossible but useless. And do not sell it as a community coin when it is definitely not. There is a limited company on the Seychelles staying behind it all, this is far from being a community coin.

[cryptoyachtclub]

Without access to the code any development is not just impossible but useless. And do not sell it as a community coin when it is definitely not. There is a limited company on the Seychelles staying behind it all, this is far from being a community coin.

For example, foreigner can a start a business in Singapore for $700, this includes company registration plus other things and benefits included. Does it make all blockchain companies registered in Singapore an unsuccessful scam?

Have you missed that? https://blog.xtrabytes.global/xtrabytes/xby-community/oh-canada-the-latest-company-achievements/

Some very trusted devs have an access to the code already, as far as I know, and for some devs an access will be granted after NDA.

And I know all this simply by following XBY Discord channel. Why you don't follow? Why you only spreding missinformation?

[Sabih]

Why you only spreding missinformation?

Some very trusted devs have an access to the code already, as far as I know

"As far as you know" is the base for your defence and accusation of my posts containing misinformation?

[XBY-Guy]

Why you only spreding missinformation?

Some very trusted devs have an access to the code already, as far as I know

"As far as you know" is the base for your defence and accusation of my posts containing misinformation?

You see cryptoyachtclub, when he have nothing to say he's talking bullshit, and trying to catch you with stupid questions. Don't fall to this.

Hey Sabih, answer cryptoyachtclub's questions first

[Cameron0208]

You Xtrabytches say that holders can freely switch over to the XBY blockchain if they want. Tell me how that is possible without a token swap and with wallet addresses staying the same. Let me guess, Borz invented this process too...

How is it possible to switch chains freely without a token swap and with keeping your same wallet address?

[Cameron0208]

Sabih, do you understand that most successful crypto projects have only 1 talented core developer, and all other developers simply helping him?

Name them, please. Bitcoin doesn’t count. ‘Most’ successful projects... I’d love to know which ones. Not Ethereum. Not Ripple. Not Stellar. Or IOTA. Or NEO. Or Cardano. Do projects have 1 key person/leader? Yes. But to say they only have 1 talented developer is BS.

So which ones? I expect a long list since you said ‘MOST’ successful projects only have 1 talented developer. 

[cryptoyachtclub]

Tell me how that is possible without a token swap and with wallet addresses staying the same. Let me guess, Borz invented this process too...

How is it possible to switch chains freely without a token swap and with keeping your same wallet address?

Explain why it's not possible?

[cryptoyachtclub]

Sabih, do you understand that most successful crypto projects have only 1 talented core developer, and all other developers simply helping him?

Do projects have 1 key person/leader? Yes.

You see, you answered your own question! "Do projects have 1 key person/leader? Yes." Most successful projects relay on one talented core developer, and expanding afterwards!