[ANN] Bytecent - Blockchain Powered Social Rewards Network - Bytecent.com

[Elemecro]

Hello everyone,

I will be making an announcement later in the morning and yes it is good news. Stay tuned...

Best,
Christopher

Let me guess you got some green signal from Bittrex rather than this what it could be or Binance is agreed to make it list there. I'm curios to know about this because if this could happen than we will see good recovery in very short time of period.

I don’t think news is related to bittrex.

[Bytecent]

Guys... I am writing the announcement now, it will take another hour or two. Everyone asked for full details, so that is what I am going to do. But like I said before it is good news.

[Bytecent]

Hello everyone,

This is a long post but I encourage everyone to take a few minutes to read it.

Before I address the future of Bytecent, I want to take a few minutes and talk about the past 4 years. When I came up with the concept of Bytecent, I wanted to launch a coin that was user-friendly and easy to mine. Before Bytecent, I spent 14 years developing software for both consumers and businesses, and I tried to apply what I learned to crypto. After four years I can say it doesn’t work.

I am not a people person, most software engineers and developers aren’t, and yes I would say I can be an asshole. My personality and approach isn’t the best fit for a crypto community, so I spent the past 2 years ignoring the community and focusing on the corporate side of things. I will admit that was the wrong approach, it doesn’t work. I will also admit I suck at managing a crypto community, it’s not what I am good at. For any cryptocurrency to succeed there needs to be a strong community behind it.

But since I am being honest, the community also must be honest with itself. We know 90% of the people who buy cryptocurrencies are betting on the future and they want to make insane returns on the coins they buy. The problem with that is it puts immense pressure on developers to deliver, and some people just have unrealistic expectations. I believe that is why many projects fail, most developers just can’t handle the pressure. They had good intentions, but they didn’t know what they were getting into.

Before I continue, NO I am not going anywhere. I have spent 4 years of my life committed to this project, but I understand we need to make several changes and that will start today.

1. We have been working on a new wallet (Bytecent 3.0) for several months, but development slowed down because we have been using all of our manpower to help Avanquest with their projects. While the community waits for Bytecent 3.0, I will release an update to version 2.3. The new version will remove mining restrictions. The miner will no longer require you to have BYC to mine longer than an hour. Once you start the mining process, you will mine indefinitely. I will release the new wallet sometime next week.

2. Starting today I will separate the community side of Bytecent from the corporate side, the two do not mix. I will do my best to be more active in the community and listen to feedback regarding mining, exchanges, and trading. However, I will still need to be tight-lipped regarding any corporate projects or partnerships unless I am given the permission to discuss publicly.

3. Our partners don’t care if Bytecent is $4.00 or $0.04, nor do they care if we are on 1 exchange or 30 exchanges. Their only concern is a stable network and a place to buy coins to reward their users. The nuances of trading and exchanges is a concern of the community. When I launched Bytecent there were a handful of exchanges, and to get on exchanges was difficult. Now there are over 100 exchanges and most will let you list your coin for a fee. The fees vary from one exchange to the other, but usually the minimum fee is 1 BTC. However, the fees can go well over 10 BTC with some exchanges. My plan now is to get us listed on as many exchanges as possible so we never run into this problem again.

     A. Several people have contacted me about how they can help with listing fees, but I am apprehensive about asking for help with listing fees because of FUD and past experiences. However, the listing fees are not cheap, and I cannot convince our partners to pay the listing fees for multiple exchanges because they don’t really care.
  
     B. If we raise money as a community for listing fees, I am not interested in handling anyone’s BTC or being responsible for donations. I propose once an exchange agrees to list us; we have the exchange setup a fresh BTC address and we all just send BTC to that address. This way it goes directly to the exchange and we can all monitor how many BTC is going to that address.

     C. You must trade!!! To prevent exchanges from delisting Bytecent we must all trade. Even if you are selling your mined coins the market needs activity.

     D. I have been in communication with Bittrex for a week and they will ultimately delist Bytecent. Their policy is they must delist after they make the announcement. It’s not fair to the other developers who were delisted. However, they will let us relist by going through the listing process again. Before we do that, we must get our shit together as a community and that includes me. Once we fix the community and we can show Bytecent is active, we will relist. Hopefully, by the end of December or January 2019.

    E. I have been in contact with several exchanges, and I decided we will go with Stex.com first. They are new and I like their platform. They have a decent reputation and their listing fees are reasonable. They also have USD, EUR, JPY pairs. We will start with BTC/BYC first, and then the community will decide which pairs to add later. There is a fee for each new pair. They are installing the Bytecent wallet and it will take a few hours to set everything up. Their listing fee for BTC/BYC is one BTC, and I will have them create a BTC address so we can all donate to it. The market will not go live until they receive the full amount first.

     F. The next exchange we are listed on after Stex.com will be decided by the entire community. So everyone will have input on where and when. But we should start with the smaller exchanges first and then focus on the larger exchanges when our volume and community activity improves.

4. Over the past 2 years, we have helped Avanquest launch several apps to experiment on how we can best way to use the Bytecent network. Each experiment has had measurable success, but the biggest flaw has been the 3rd party CPA networks that provide the content. Some of you know, you might install an app or fill out a survey, and then you never receive your reward. That wasn’t Avanquest, it was the 3rd party networks, and we were at their mercy. So we decided we would launch our own platform/network and work directly with merchants, advertisers, and app developers. We have been working on the project for about a year, and it is by far the most ambitious project I have been a part of. When we launch, you will be impressed with what we have done. But more importantly, when you fill out a survey, install an app, sign up for a service, buy something...etc..etc, you will be rewarded 100% of the time. We have eliminated the middleman and the layer of complexity. I promise when we go live you guys will love it.

5. It has been quite some time since we cleaned up the Bytecent website, this thread, the official forum, and removed inactive links. I apologize for that and we will do better. Starting next week we will clean house. We will revamp the official website, tidy up the Bytecent forum, tidy up this thread, and remove inactive links.

6. I will try to be more tolerant of criticism and constructive suggestions. However, I will delete posts from new accounts only interested in FUD. If your only goal is to cause discourse and drama, please find another community.

I know this was a super long post, but I wanted to address everyone’s concerns. I will keep you guys updated and I will have someone from Stex exchange post their BTC address for payment.

Please do not keep asking me how long it will take for Stex to complete the setup. It took Bittrex 1 day, it took C-Cex 1 day, and it took Cryptsy 2 days. As soon as I know something I will report here. If you have any other questions please do not hesitate to ask.

PS: Please use this referral link to create an account with Stex. It will allow me to know how many people from our community are signing up, and it will also allow us to make a few BTC. Link: https://app.stex.com?ref=82221595

Best,
Christopher

[BigCoin4U]

Thank you for the update Christopher, it sounds like there are some exciting projects in the works and a bright future for Bytecent. Would you recommend waiting until wallet 2.3 is released to withdraw BYC from Bittrex, or not? Also, do you know for how long we will be able to withdraw BYC from Bittrex? Is this something I need to do immediately or is there a little time?

Thanks

[Bytecent]

Thank you for the update Christopher, it sounds like there are some exciting projects in the works and a bright future for Bytecent. Would you recommend waiting until wallet 2.3 is released to withdraw BYC from Bittrex, or not? Also, do you know for how long we will be able to withdraw BYC from Bittrex? Is this something I need to do immediately or is there a little time?

Thanks

You can move everything to your desktop wallet or you can wait for Stex. I don't know when Bittrex will close the wallet, but they usually wait weeks for that. The next update will be minor, it will not be a hard fork or anything like that.

Best,
Christopher

[Bytecent]

Also, guys please stop using newbie accounts. I know most of you are not newbies. 
We are having a fresh start, whatever drama we had in the past is the past. Everyone is welcome even if we previously bumped heads.

Best,
Christopher

[FacebucksToken]

Hi Christopher and Bytecent aficionados.

My name is Adam - a newfound investor to Bytecent. I've recently started a project called "Facebucks Token" (www.facebucks.info) which aims to create an online crypto marketplace that will compete with Fiverr and Etsy. When our marketplace launches, I'd love to make Bytecent a compatible payment method within the goods/services offered in the marketplace. I feel like it can help give the BYC project a boost and lend some attention from our Facebucks community.

I feel like this project has a lot of potential- but yes entirely lacking a community behind it. In the meantime while the Facebucks marketplace is being built, if you need some help building a community behind this project - I feel like I can help. I'd love to help you keep up with your social media platforms, telegram channel and other vital outlets. If you're interested in getting into contact with me you can reach me at @MrSiteFB on Telegram

Cheers!
Adam

[Harry Van]

What's future of bytecent for the next 3-4 years? If I invest more at this moment, should I expect to see some gains? #newbie

[Bytecent]

Hi Christopher and Bytecent aficionados.

My name is Adam - a newfound investor to Bytecent. I've recently started a project called "Facebucks Token" (www.facebucks.info) which aims to create an online crypto marketplace that will compete with Fiverr and Etsy. When our marketplace launches, I'd love to make Bytecent a compatible payment method within the goods/services offered in the marketplace. I feel like it can help give the BYC project a boost and lend some attention from our Facebucks community.

I feel like this project has a lot of potential- but yes entirely lacking a community behind it. In the meantime while the Facebucks marketplace is being built, if you need some help building a community behind this project - I feel like I can help. I'd love to help you keep up with your social media platforms, telegram channel and other vital outlets. If you're interested in getting into contact with me you can reach me at @MrSiteFB on Telegram

Cheers!
Adam

Hi Adam,

Thank you for your offer! Once I get everything sorted with the immediate items I listed, I would love to chat with you. Also, good luck with your project!

Best,
Christopher

[Bytecent]

What's future of bytecent for the next 3-4 years? If I invest more at this moment, should I expect to see some gains? #newbie

In terms of projects, as I stated in my longgggg post we will launch the new rewards platform soon. It will NOT be like what we have launched before, those were mostly experiments to understand what works and what doesn't. Once the platform goes live, it will be the main driver of liquidity in our markets. In the past when our other projects were running, the  liquidity was significantly better. That will return when we go live with the rewards platform.

As for the price of Bytecent, it was trading steadily around $0.17 before Bittrex announced the delisting. 0.05 is way too low for Bytecent, even if it's my project. We only have a supply of 2,358,823, and probably nearly half of those coins will never be used because of unused wallets...etc. Also, when Bittrex disables the wallet in a few weeks, many of those coins will be locked away. So short term I expect Bytecent price to at least double. Once we get added to several exchanges I expect us to reach $0.20 - $0.30. When we launch the new rewards network, we should be trading around $1.00. There will be a lot of demand and very little supply like months ago.

Best,
Christopher

[Bytecent]

Hi everyone,

I just spoke with Stex, the wallet will not be enabled until sometime tomorrow.

Best,
Christopher

[BigCoin4U]

Christopher, when you release the updated 2.3 wallet next week, will the blockchain data be up to date? I am installing a fresh wallet and it looks like it's going to take a LONG time to sync. I would rather just wait til the updated wallet is released if it will get me around that issue.

[Bytecent]

Christopher, when you release the updated 2.3 wallet next week, will the blockchain data be up to date? I am installing a fresh wallet and it looks like it's going to take a LONG time to sync. I would rather just wait til the updated wallet is released if it will get me around that issue.

I have updated the zip file with the blockchain: http://70.35.204.38/downloads/blocks.zip

This zip file also contains the peers.dat

[mehmet sibal]

şimdi ne olacak. ortada borsa da yok.bi fikri olan varmi

[Bytecent]

şimdi ne olacak. ortada borsa da yok.bi fikri olan varmi

As I stated in my post yesterday, Stex exchange is listing Bytecent and they are currently syncing the wallet and setting up the market. You can create an account here: https://app.stex.com?ref=82221595

I spoke to Stex this morning and they said everything is going well, but based on my previous experience it usually takes a full day. They started implementing our wallet yesterday evening their time, so don't be surprised if the wallet is not enabled until sometime Monday.

Here is my post from yesterday, it's very long but I suggest everyone read it to get updated about everything. https://bitcointalk.org/index.php?topic=999498.msg47060640#msg47060640

Best,
Christopher

[BigCoin4U]

Christopher, do you know how many BYC coins are currently held on bittrex?

According to the coinmarketcap explorer:
https://chainz.cryptoid.info/byc/#!wallets

There is a wallet with 1.6m or 69% of all coins, is that the bittrex wallet or is that yours? Just curious. Thank you,

Also, thanks for posting the updated block zip yesterday, I was able to sync in a few minutes.

[Bytecent]

Christopher, do you know how many BYC coins are currently held on bittrex?

According to the coinmarketcap explorer:
https://chainz.cryptoid.info/byc/#!wallets

There is a wallet with 1.6m or 69% of all coins, is that the bittrex wallet or is that yours? Just curious. Thank you,

Also, thanks for posting the updated block zip yesterday, I was able to sync in a few minutes.

The top wallet belongs to Bittrex, I don't own nearly that many coins.

I am glad to hear the zip file helped.

[mehmet sibal]

ben byc mi normal byc dalet te tutuyorum sıkıntı olmaz degilmi.ayrica cüzdandaki sayının mining etkisi varmi

[Bytecent]

Hello everyone,

Stex Bytecent wallet is still syncing. As some of you know it can take a few days to sync a wallet from scratch. Unfortunately, most exchanges don't use blockchain files from zip files..etc, they prefer to sync directly from the network because of security reasons.

So while we wait, you can create a Stex account here: https://app.stex.com?ref=82221595


FYI: As I stated in my post from a few days ago, I decided to go with Stex first because I really like their platform and I was surprised how fast their response time was, at least from a developer's perspective. I can't comment on their customer support as a trader because I haven't had any issues. Furthermore, they knew about our situation with Bittrex and they didn't try to take advantage of the situation. I also like the fact they have USD pairing, that might be useful in the future.


Best,
Christopher

[mehmet sibal]

merhaba arkadaşlar.stex kayıt oldum.ama bi sorum olacak cevaplarsanız sevinirim.byc mi normal byc cüzdanında tutuyorum sorun olmaz degilmi..