Post
Topic
Board Announcements (Altcoins)
Re: [NEW XBY ANN] XTRABYTES - A NEW ERA BEGINS
by
Cameron0208
on 07/04/2020, 16:49:23 UTC
I’m curious, as no one from the team has answered my questions:

- What does Xtrabytes expect people to do after seeing these ads? Xtrabytes is on two small exchanges, one of which is a DEx. Is Xtrabytes expecting the normal, every day non-crypto user who has never even bought from Coinbase to navigate through the Waves DEx or Crex24 to not only purchase XBY, but to also create a wallet and move their coins from the exchange to the wallet?

- What are these people supposed to do if they do manage to get the desired endpoint of purchasing XBY or XFuel? There’s barely any liquidity on either exchange period, much less for XBY and XFuel. Additionally, the remaining supply of XBY is extremely low.

- What’s the incentive here? *Why* would they go through all the trouble? This is not a shot at the team. It’s just facts. XBY is a small and relatively unknown project. Nearly everyone knows what Bitcoin is. A smaller, but still large number of people know what Ethereum is. The numbers go down at an increasingly high rate in regard to Litecoin, Bitcoin Cash, Ripple, etc. Outside of the top 10 coins, only a very small, minute fraction of people know any of the coins outside the top 10 even exist. Why would someone who has [likely] never purchased cryptocurrency before go to all the trouble? If they were going to buy crypto - which they likely would already have done by now if they truly *wanted* to invest in crypto. I would imagine they’re much more likely to sign up with Coinbase and buy Bitcoin than to really dive into the crypto space. I know many people who have done just that. They have never ventured outside of Coinbase and never bought anything other than Bitcoin and/or Ethereum. It seems highly unlikely they would do so. Even more unlikely - literally 0% chance in my own experience - that these people would learn about wallets, exchanges, dexs, deposits and withdrawals, etc., *especially* to buy an unknown project’s token.

- Xtrabytes has stated their main goal is corporate adoption, yet also state - even in these comments - that these ads should drive the price of XBY & XFuel up. Corporations don’t want the price to increase. That just means they’d have to spend more to purchase the token and use the Xtrabytes blockchain. Wanting the coin price to rise and wanting to gain enterprise-level clients are two things that don’t go together. They can’t both happen. Look at VeChain. All they’re doing and all the was promised, and the token price has done nothing. Billions of VET/VTHO burned and yet, nothing. As we’ve seen a few times in this space, projects typically offer steep discounts to corporations anyway. So, I don’t see how these ads will be a net positive in that regard.

- To further the second and third points, corporations would needs **millions** - if not **billions** - of tokens that are always readily available to purchase and with no possibility of those tokens running out any time in the foreseeable future. To effectively run an enterprise-level company’s operations, the amount of tokens used on a constant and consistent basis would be an extraordinarily high number. How will the corporations obtain these tokens? How will they obtain tokens in the future? What about when the supply inevitably runs out? Why would they move to a blockchain that they will only be able to use for a relatively short and indeterminate amount of time? Corporate decision-making, especially purchasing and acquisition, doesn’t work in favor of XBY’s strategy here. The long-term benefit to the company and the incentives necessary to facilitate a switch just aren’t there.

- What we’ve seen so far in this space is corporations using their own permissioned databases. It’s not trustless and it’s not true blockchain, but corporations don’t care about that. They care about the bottom line. There are also huge tech companies such as Oracle and IBM dominating the corporate blockchain space currently. Microsoft, as well as Amazon and Google, have their own blockchains as well. All these companies also offer vast amounts of cloud storage, which Xtrabytes has said since the beginning is one of the key focuses of the project. How does Xtrabytes plan to compete with corporations with the size, reach, and every other possible advantage that companies like Oracle, IBM, Microsoft, Amazon, and Google possess over Xtrabytes?