Is Xtrabytes a scam?

[Peter1984]

I invested a portion of my rather small holdings into XBY after reading the announce thread and reading that it's a new blockchain technology (comparable to Iota) but still not known by many so that there is a lot of potential for growth for a long time holder.

But after the price dump yesterday I stumbled upon this post on reddt and at the moment, I'm quite worried.

https://www.reddit.com/r/CryptoCurrency/comments/6g9gez/long_read_but_a_must_before_investing_in_xby_be/

The post seems well researched and is not aggressive while the comments are just attacking him.

Anybody has more info on this?

[jeepbrahhh]

The mouthpiece of the project, CCR, is a complete imbecile! If Xtrabytes wants to be a successful project in the future Borz better get rid of this clown ASAP!!

[Asimov]

So its a dodgy project?

[dissident]

Probably just early adopters taking profits... they got in for virtually nothing.. it will take time to loosen out those hands. The dump in and of itself is no reason to suspect anything.  I'll continue holding and wait to see what they bring to the table since I'm in pretty low and am pretty diversified anyways.

I don't like their recent developments is trying to sell the static nodes... I'm not paying.. let's not get greedy here.. if they want everything to be on the up and up, they'll open up static node registration at no cost.

In any case, I await the static chain and the retirement of the current chain. If they don't do that within a month, I'll dump what I have.  It's what they promised after all.

In the meantime.. I just rotated some coin out of NEM and into Ardor to further diversify my holdings. I believe Ardor with the child chains could compete with ETH down the road.  It's ETH but more scalable.

[Viper1]

The more I hear about these sorts of things on this coin the more confident I am in my initial assessment that it's nothing but a means for some of the scammed investors in the original coin to get their money back. There was nothing new about the coin, just modify things a little, call them something else and get the hype train going to drive the price up. And when looking at the history of the dev who went from just being a no name investor so suddenly calling himself a crypto developer it was obvious that it's a coin to stay away from. I might as well call myself a crypto dev with all the code I've written to do a variety of crypto related things lol.

[bathrobehero]

It's an admitted scamcoin which got revived by "devs" with a questionable track record admitting they don't know if they'll be able to deliver, with even higher transaction fees than Bitcoin, with different levels and importance of (master)nodes, an untested signature system, without a whitepaper, with the worst naming scheme I have ever seen in crypto and it's even dishonest as it's advertised as it didn't have a premine while that would be impossible since it started as an ICO and it's not outlandish to think that most of the funds belong to a handful of people since this project was mostly - rightfully - ignored at the beginning.

I'm not saying it's a scam but it looks like, smells like and talks like a shitcoin and a terrible investment opportunity - regardless of all the dumbasses and sockpuppet accounts claiming otherwise.

[goingmobile]

I bought in at 60 satoshi. I had to go to sleep at 3 am and couldn't wait for bitcoin to clear on ccex or I would have been in at 30 satoshi with twice as much lol. It was dodgy then, it is dodgy now. I never tried to get anybody to buy this coin over like 200 satoshi because (sing it with me everybody)

BUY LOW
SELL HIGH

Xtrabytes is a goof. If it ends up "really" being the miracle elixir people dream it could be just because the developers say they invented a new proof of ___ idea, I still have 25K socked away just in case.

I guess ultimately the problem is people still believe they are buying low with it on the edges of the top 100 and not in say the top 50.

[Shiroslullaby]

XBY was way overhyped.
I don't know if its a total scam but it got pumped, and it gained a cult following overnight.
People were acting like it was the next revolution in crypto, which is a pretty big claim.

Remember its very easy to manipulate the price of a new coin when it has a small market cap and is only on a couple small exchanges.

Maybe XBY end up being good but its got a small team working on it and for me that means it will be a while before I think a coin is worth more than a few million market cap.
(Unless I have some inside information or the developers have a proven track record on other projects.)

[dissident]

If I didn't think 75-80% of all trading cryptos were all semi-scammy or manipulated in the same way, I might care more about the claims being made about xtrabytes. Fact is, I don't care, and I'm willing to give them a chance to prove themselves. Besides, a guy I've been messaging is now working on some of the marketing aspects.

Now if I could just convince the Pascal Coin guys to let me help them re-market their coin and remove "coin" from the name. That tech trumps any I've come across so far if he can make it work. Account numbers that allow account balances to be preserved while the oldest transaction data on the blockchain gets "trimmed" resulting in a blockchain that's no larger than 6GB in size. Not only is that scalable, but it's also semi-anonymous... perhaps too anonymous for big businesses who want the paper trail. After all, if old transaction histories get wiped during the trim, the paper trail is gone....

Dare I say 90% of ICOs are pump and dumps that are going nowhere in the long run. That includes WAGERR, the one I put a BTC into.. the whole way they set it up to reward people for investing more into the ICO smelt funny from the start, but it's still better than most of the ICOs I see.

[Fatoshi]

Newbie account claiming scam....check

Links to 4chan posts claiming scam.....check


Exactly the same posters on here saying its a scam.....check
 

Actually zero proof of it being a scam just vague concerns and twisted half truths to try to make perfectly innocent things seem devious .....check




The truth is there are many reasons now that the project is legit. So stupid trying to crash the price when energy would be better spent buying. All the evidence of scam actually if properly read and understood shows nothing but a unique project starting out. For one thing the developer has been on this forum since 2014 and has done nothing other than help struggling coins for zero remuneration. Not everyone is a scam artist.

I would prefer to invest in a million XtraBytes type projects than this crazy stream of ICO getting 50m or more. If you want scams that are going to lose a lot of money then look at these ICOs more closely. Most are kids from University in Eastern block countries and Russia trying to get millions for an average slapped together ETH module. These are the true scammers in this season of crypto and I think soon it will be over as ICO fatigue kicks in and people realize the only ones making money are the developers. Trust me in 12 months you will not hear about these projects anymore while XtraBytes will be going strong.


If you really want my opinion it's this. Borzalom is of an older generation that actually has a moral compass and believes in something. All,these young millennial people coming into crypto I've seen how many of you behave without any concern of deeper issues of right or wrong. I see so many admit openly they scammed or fake FUDed or have no inhibitions to pump and dump a scam coin and take a little profit and no one in their peer group suggest there is anything wrong with it. In fact after a faux confession they want to instantly be regarded as a legit person for me to talk to in the XtraBytes slack. This generation really are quite fucked up and it's all going to come back and bite you on the ass. Cause if you live like some kind of feral dog that only understands what you can get for yourself you will end up with nothing emotionally, spiritually and relationally even if you grabbed some money for yourself. That's why we are seeing so much depression in Western countries.

[Fantum]

Newbie account claiming scam....check

Links to 4chan posts claiming scam.....check


Exactly the same posters on here saying its a scam.....check
 

Actually zero proof of it being a scam just vague concerns and twisted half truths to try to make perfectly innocent things seem devious .....check




The truth is there are many reasons now that the project is legit. So stupid trying to crash the price when energy would be better spent buying. All the evidence of scam actually if properly read and understood shows nothing but a unique project starting out. For one thing the developer has been on this forum since 2014 and has done nothing other than help struggling coins for zero remuneration. Not everyone is a scam artist.

I would prefer to invest in a million XtraBytes type projects than this crazy stream of ICO getting 50m or more. If you want scams that are going to lose a lot of money then look at these ICOs more closely. Most are kids from University in Eastern block countries and Russia trying to get millions for an average slapped together ETH module. These are the true scammers in this season of crypto and I think soon it will be over as ICO fatigue kicks in and people realize the only ones making money are the developers. Trust me in 12 months you will not hear about these projects anymore while XtraBytes will be going strong.


If you really want my opinion it's this. Borzalom is of an older generation that actually has a moral compass and believes in something. All,these young millennial people coming into crypto I've seen how many of you behave without any concern of deeper issues of right or wrong. I see so many admit openly they scammed or fake FUDed or have no inhibitions to pump and dump a scam coin and take a little profit and no one in their peer group suggest there is anything wrong with it. In fact after a faux confession they want to instantly be regarded as a legit person for me to talk to in the XtraBytes slack. This generation really are quite fucked up and it's all going to come back and bite you on the ass. Cause if you live like some kind of feral dog that only understands what you can get for yourself you will end up with nothing emotionally, spiritually and relationally even if you grabbed some money for yourself. That's why we are seeing so much depression in Western countries.

Ha ha. Mic drop. It is so true, so obvious that most icos are scams. Seems like there is a repeat of the exact same project with a different name every week. When will any of these icos produce anything, other than profit for the creators? Probably never. You have a really good point about a lot of people are in crypto just to eat other dogs and get profit in anyway, empty souless money. Crypto is truely about changing how people can collectively take control of their lives without being slaves to the top corporations. Thank you for your post.

[Geraldo]

It's an admitted scamcoin which got revived by "devs" with a questionable track record admitting they don't know if they'll be able to deliver, with even higher transaction fees than Bitcoin, with different levels and importance of (master)nodes, an untested signature system, without a whitepaper, with the worst naming scheme I have ever seen in crypto and it's even dishonest as it's advertised as it didn't have a premine while that would be impossible since it started as an ICO and it's not outlandish to think that most of the funds belong to a handful of people since this project was mostly - rightfully - ignored at the beginning.

I'm not saying it's a scam but it looks like, smells like and talks like a shitcoin and a terrible investment opportunity - regardless of all the dumbasses and sockpuppet accounts claiming otherwise.

I'm sure you are holding the most out of us and you keep trying to make the price drop so you can fill your bags more. Smart of you, you are trying pretty hard and your intentions become even more obvious, hope it pays off for you.

[Fatoshi]

XBY was way overhyped.
I don't know if its a total scam but it got pumped, and it gained a cult following overnight.
People were acting like it was the next revolution in crypto, which is a pretty big claim.

Remember its very easy to manipulate the price of a new coin when it has a small market cap and is only on a couple small exchanges.

Maybe XBY end up being good but its got a small team working on it and for me that means it will be a while before I think a coin is worth more than a few million market cap.
(Unless I have some inside information or the developers have a proven track record on other projects.)

Overhyped? Are you aware of what the developer is putting together now? A more secure, scalable ETH type project completely modular, no POW, no POS. NO unlimited ETH nonsense. No gas nonsense. This will be the biggest thing in crypto for years to come. Read and wise up.

[nemwanderer]

XBY was way overhyped.
I don't know if its a total scam but it got pumped, and it gained a cult following overnight.
People were acting like it was the next revolution in crypto, which is a pretty big claim.

Remember its very easy to manipulate the price of a new coin when it has a small market cap and is only on a couple small exchanges.

Maybe XBY end up being good but its got a small team working on it and for me that means it will be a while before I think a coin is worth more than a few million market cap.
(Unless I have some inside information or the developers have a proven track record on other projects.)

Overhyped? Are you aware of what the developer is putting together now? A more secure, scalable ETH type project completely modular, no POW, no POS. NO unlimited ETH nonsense. No gas nonsense. This will be the biggest thing in crypto for years to come. Read and wise up.

As a now-marketer for the project-all I hope for is more developers, plural, so that we don't build a cult of personality around one person. Don't get me wrong, he is extremely talented-but a team is stronger than any one individual.

[benedictonathan]

I am going to research that more to see if the allegations are true or not. Sorry to hear that you worry but really we need lots of work to convince ourselves to invest on some coin. Hopefully this is not scam.

[kubricktrader]

I am going to research that more to see if the allegations are true or not. Sorry to hear that you worry but really we need lots of work to convince ourselves to invest on some coin. Hopefully this is not scam.

There is zero reason to suppose this is a scam. If anyone has one single piece of evidence to show it is a scam other than oh the developer doesn't give his fucking home address etc. please give it so I can laugh at you.

[kubricktrader]

XBY was way overhyped.
I don't know if its a total scam but it got pumped, and it gained a cult following overnight.
People were acting like it was the next revolution in crypto, which is a pretty big claim.

Remember its very easy to manipulate the price of a new coin when it has a small market cap and is only on a couple small exchanges.

Maybe XBY end up being good but its got a small team working on it and for me that means it will be a while before I think a coin is worth more than a few million market cap.
(Unless I have some inside information or the developers have a proven track record on other projects.)

Overhyped? Are you aware of what the developer is putting together now? A more secure, scalable ETH type project completely modular, no POW, no POS. NO unlimited ETH nonsense. No gas nonsense. This will be the biggest thing in crypto for years to come. Read and wise up.

As a now-marketer for the project-all I hope for is more developers, plural, so that we don't build a cult of personality around one person. Don't get me wrong, he is extremely talented-but a team is stronger than any one individual.

Nothing wrong with admiring the work of one developer, unless you think BTC and Ethereum have no future? Borzalom has done nothing arrogant at all, it is simply early in the project, he has to do the key coding himself and is committed to open source 100% also he has called for help from developers so I don't think your criticism is legitimate. Also the project is a core with modules to be built by anyone who wants to so again I see no issue on the side of the developer.

[jlinberg]

of course the xby is not a scam but a great tech.
please read and search then you will be rich.

[KeeperOfCoins]

The same old FUD...

[KeeperOfCoins]

fapnnap, you're writing pure nonsense. How many accounts do you use to try ruining XBY's reputation?


If XTRABYTES was a scam, the team would have put much more effort into marketing by now to get more attention and therefore more investors.
Instead, XTRABYTES wants to offer their technology first before trying to reach the mainstream. That proves that their project is indeed genuine.
They don't inforce themselves on anyone nor they want it to be a dump and pump coin. The goal is steady and healthy growth that is determined by
their progress of development.

For all of the people who read this thread, do your own research and don't listen to shilling nor to FUD. XTRABYTES is a very promising project.
But to decide whether or not it is worth it to invest in it, you have to do your own research. From my personal point of view, I see XBY reaching the
TOP 50 very soon.