I divorced my wife and put every cent I have into Blackbytes

[catia]

To be honest I´d been thinking of the divorce for a while now. My ex wife got 45% of my assets which really hurts, but I´m absolutely convinced holding Blackbytes is going to make me a multimillionaire Roger Ver style in US dollar terms very soon anyway.

At the age of 39 I´ve also moved back in with my parents which doesn't feel great, but no pain no gain. Every cent I have is now invested in Blackbytes. Further any spare cash I earn I´m going to be investing into Blackbytes until November 2019. And I´ve given up alcohol for the next two years too, which probably rules out the chances of me finding a girlfriend any time soon.

What are Blackbytes?

Blackbytes is the privacy coin of Byteball project. Another Bitcointalk user LoyceV wrote a good FAQ page here explaining Blackbytes https://bitcointalk.org/index.php?topic=2020882

Why have you never even heard of Blackbytes?

Blackbytes isn´t listed on Coinmarketcap because there is currently no public API available that can give Coinmarketcap the data they need to add a coin.

Further, Blackbytes isn´t traded on any "normal" exchange yet. To buy them you need to pair your Byteball wallet with another wallet, and then trade using a smart contract. One such place you can buy them is http://freebe.byte-ball.com/ Blackbytes are simple to buy once you´ve done it, but the first time I think it can be a bit daunting for some people. Its much easier to buy other currencies using Bittrex etc where you can just login and basically click ´´buy´´ and you're done. This is one reason why the price is currently so low.

I think it only became possible to buy Blackbytes using smart contracts within the wallet within the past few months. Before that I think there was very little trading done at all of Blackbytes. Generally the people that owned them received them through the Byteball/Blackbyte airdrop distribution model (the project is distributing 98% of coins for free as mass market adoption is the aim).

Strong Community

Byteball/Blackbytes has a strong community behind it. This is the original announcement thread from Tony, the founder from September 2016 https://bitcointalk.org/index.php?topic=1608859.15500  

As I write this there are 776 pages of comments on the Bitcointalk thread.

Marc De Mesel is a prominent Youtuber who has been posting videos on crypto since 2013 odd (unlike many new crypto Youtubers who don't know much about crypto and only jumped on the bandwagon in 2017). Marc is a fan of Blackbytes, and explains why he likes it 11 minutes into this video:

https://youtu.be/8ofu7HpmIno?t=11m2s

The Technology

Blackbytes/Byteball use DAG similar to IOTA. There is a comparison of the coins here https://byteroll.com/comparison-iota

One of the main benefits of DAG over Proof of Work coins like Bitcoin is it is much more scalable.

Marc De Mesel did a short 13 minute presentation on Blackbytes and Bytes in November 2017 which explains some of the technology https://www.youtube.com/watch?v=E16xnZ14S2A

Blackbyte transactions are not listed on a public blockchain, but instead sent peer to peer. For added anonymity they can be sent over TOR which is a feature built into the wallet.

It's worth noting it's actually easier to send Blackbytes to someone than using most crypto currencies. There is no copying and pasting of wallet addresses needed. Instead you just insert your address by clicking a button in the chat section of the wallet. The other person then clicks on your address and selects how much to send.

The Unique Selling Point (USP) of Blackbytes

On the Byteball wiki https://wiki.byteball.org/ it's stated the USP is the smart/conditional payments.The idea is you set a condition for how the payee (receiver) gets the money. If the condition is not met, the smart contract sends your money back.

This is actually how buying Blackbytes works on the freebe.byte-ball.com/ exchange. You send Bytes in the smart contract, and the holder of the Blackbytes sends you Blackbytes in exchange for your Bytes. If the contract isn't completed within 1 hour you get your money back.

How to view the current price of Blackbytes

Remember Blackbytes aren´t currently listed on Coinmarketcap. To see the current price visit http://freebe.byte-ball.com/  and hover your mouse over the green line



So from when I took the screenshot you can see the current price was 0.058 Blackbytes per Byte.

Future price estimates

The USD price of Blackbytes is closely tied to the price of Bytes https://coinmarketcap.com/currencies/byteball/

As I write this, Bytes cost roughly 17 times more than Blackbytes. However there are 2.1 more Blackbytes than Bytes. So 17 divided by 2.1 is 8.1 (rounded). The current market cap of Byteball is $153 million. 226 divided by 8.1  = 18.8, which is the current market cap of Blackbytes.

I believe $18.8 million for a privacy coin on a scaleable technology (DAG) is a crazy low market cap.

So on a like for like basis, Blackbytes cost around 8 times less than Bytes. Blackbytes are basically the same as Bytes, however they are better as they have the added benefit of being private. So I believe the price of Blackbytes should be HIGHER than Bytes, never mind 8 times lower!

Privacy is an important area for people, just look at the rise of Monero and Zcash. However Monero has got the POW problem of rising transaction costs, and Zcash is a closed system that isn´t trusted by many in the crypto world. There are a bunch of other privacy coins out there, but only Blackbytes is using scalable DAG technology.

Blackbytes are currently hidden from the market which is why I believe they are priced so low

Blackbytes have an even bigger marketing problem than virtually all other coins, as they aren't listed on Coinmarketcap. Further for the average man on the street they are currently much harder to buy than say buying Bitcoin on Coinbase.

Future trading of Blackbytes

If Blackbytes were traded on a centralized exchange, the exchange would have enough information to reveal the origin and destination of blackbytes, and amounts traded, which defeats their purpose. Blackbytes hence can only be traded on decentralized exchanges, with conditional payments in the Byteball wallet. Peer discovery has to happen outside the Byteball wallet. As I write this in November 2017 a decentralized exchange like this which could protect the anonymity of traders and therefore list Blackbytes doesnt exist (to the best of my knowledge).

However going forward, I think decentralized exchanges are going become more popular so in time a major decentralized exchange should be able to list Blackbytes and make it easier for people to find it, buy and use.

Thoughts?

Let me know your thoughts. I´ll try and respond as best I can. I´m going to spend the next two years living living in my parents house, not drinking alcohol and probably without any female company so I will have time to reply:)

Thanks

Catia

[SparkyU]

The DAG coins are interesting and different if nothing else.  Out of thousands of crypto projects now only three use DAG, IOTA, XRB, and BYTEBALL.  Only IOTA and XRB have zero fee transactions though.  Each of them are interesting projects and worth looking into for anyone who is looking to research long term projects with huge potential, though they are all in very early stages at the moment.

[Uhde]

To be honest I have never heard about Blackbytes. I think it is not a popular coin at all.
If you already invested on it i think it is already late to hear comments about it huh? I hope you will have good returns and make huge profits with your investment soon.

[Fileiro]

First off, thanks for posting in something other than Google translate English

Secondly, having lost a SHIT TON of money to my first ex wife, I feel your pain.

I actually think it's a ballsy move (no pun intended!) to do what you did and I'm rooting for you 1000%.

I do think there's a real case to be made for byteball although I haven't researched the currency too thoroughly, so your write-up was pretty nice.

On a side note:

Don't exile yourself to your parents basement, get out and socialize and meet lots of hot women. As they always say, the best way of getting over someone, is by getting on top of someone else

Wish you all the best in your endeavour!

[bathrobehero]

Other than me reading the title as "I just discovered my wife" I can't really add much except that this section should maybe renamed to a more appropriate name, somethint like Altcoin Pump section.

[crypto98]

Which exchanges have BlackBytes?

[psiksenz]

Well, I've not heard about blackbytes.  It's risky putting all of your capital in one coin, I think it would be better to choose at least 5 projects that you believe in.  That being said though, I hope your confidence is rewarded!

[kioicoin]

I know Byteball is good coin. But why only buy Blackbytes? I will certanly hold normal byteball and blackbyte togeter. I think this will be a good combination.

[catia]

The DAG coins are interesting and different if nothing else.  Out of thousands of crypto projects now only three use DAG, IOTA, XRB, and BYTEBALL.  Only IOTA and XRB have zero fee transactions though.  Each of them are interesting projects and worth looking into for anyone who is looking to research long term projects with huge potential, though they are all in very early stages at the moment.

Exactly. For the number of new tokens being released on the market, from a tech point of view theres not a lot of real innovation. The tech is usually found elsewhere on other coins, and people try and spin it differently.

With the ongoing scaling problems with Bitcoin, I think the DAG coins are going to get more attention.

Blackbytes combines DAG with privacy which is why I think its got a bright future.

[aliman00]

Divorce papers or it didn't happen

[catia]

Which exchanges have BlackBytes?

Read the OP  . To buy Blackbytes you need to use the Byteball wallet then use a smart contract using http://freebe.byte-ball.com/
 or similar

[catia]

I know Byteball is good coin. But why only buy Blackbytes? I will certanly hold normal byteball and blackbyte togeter. I think this will be a good combination.

I think the risk vs reward is better with Blackbytes.

The reason Blackbytes have such a small market cap is they are hidden from the public ie you can´t currently buy them on a public exchange.

Blackbytes do what Byteball (Bytes) does and they are private. They should be valued higher than Byteball Bytes, not 8 times lower

[cryptohunter]

Great story I like inventive pump stories very entertaining. We should only allow pump threads accompanied by a good story from now on.

[Qunenin]

Divorce papers or it didn't happen

Haha, So blackbytes can be received by divorcing the wife  That's ridiculous. I mean things can be settled and capital can be arrange from many sources, rather than having a divorce.  Or is it just a story to pump a coin. By the way coins are not pumped by fake stories like this.

[KKaruchis]

This post looks like and adversting more than a real story. I would avoid to check that project.

[m.vina]

Other than me reading the title as "I just discovered my wife" I can't really add much except that this section should maybe renamed to a more appropriate name, somethint like Altcoin Pump section.

Haha. You sir are a true hero. This thread indeed got my attention mainly because of the catchy title.

While this thread has some merit and effort to it, I agree that this particular category has now attracted almost nothing but PUMPs and DUMPs. Hopefully more moderation can be added and truly shit topics can be removed sooner.

[blue_hurricanger]

Don't post this kind of comment. If you want to talk about how great Blackbytes, just said so. The 'I just divorced my wife' is unnecessary.

[catia]

I know Byteball is good coin. But why only buy Blackbytes? I will certanly hold normal byteball and blackbyte togeter. I think this will be a good combination.

I think Blackbytes is better because its currently hidden from the market - ie not listed on coinmarketcap and you need to use a smart contract to buy it using the Byeball wallet.

When Byteball goes up Im confident Blackbytes will go up faster as it receives more attention

Blackbytes does what Bytes do and are private - but are currently 8 times cheaper.

[sinner]

Divorce papers or it didn't happen

This.

Also, blackbytes cold storage doesn't exist.  Not saying blackbytes aren't a good investment, but you have to be online to receive them.  You could connect computer to internet for a few seconds to receive them I guess.

[catia]

Divorce papers or it didn't happen

This.

Also, blackbytes cold storage doesn't exist.  Not saying blackbytes aren't a good investment, but you have to be online to receive them.  You could connect computer to internet for a few seconds to receive them I guess.

Blackbytes can be stored on multi signature wallets which are extremely secure. Far more secure than how most people store their cryptos