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An Introduction to the Economic Landscape of XTRABYTESTM
Contrary to what most cryptocurrency projects seek to accomplish, XTRABYTESTM is building a platform that will bring the benefits of decentralization to a variety of everyday tasks (beyond simply serving as an alternative payment processor). Consequently, XTRABYTES intends to provide blockchain solutions that offer greater functionality than currently found in other cryptocurrency projects.
Although decentralized P2P payments have long been the mainstay of the crypto industry, we seek to substantially improve their accessibility. In particular, we intend to broaden the scope of payment options available to individuals who engage in a variety of different types of transactions.
Accordingly, weve identified various payment mechanisms suitable to such interactions (all of which retain unique technical requirements). Among the many payment methods identified are:
- instant peer-to-peer payment
- automated payments linked to smart contracts
- fee-less micropayments
- ...
Our Solution
Combining these payment methods in one coin typically necessitates technical compromises. At XTRABYTES, we believe its far better to simply incorporate two coins to meet this need.
By allowing for two coins, were able to provide users with access to two blockchains (both of which are compatible with one or more specific payment methods) that each have their own technical specifications.
Moreover, our platform enables us to link different types of payment methods to different types of users. While some of these transactions will occur on the client-side of the platform, others will take place on the server-side. This is one of the primary reasons we created XFUEL.
Although we have faced continued criticism about creating a second coin, we appreciate the fact that community members did not have this information and so could not accurately judge this decision.
By retaining two different blockchains, were able to optimize the many different payment methods that our platform will require. As you can see, XFUEL was not created simply as a means to pay for work and development.
Who's who
The big question on everyone's mind is How do XBY and XFUEL fit into the network?.
To start we need to identify the main entities that will make up our network:
- STATICs & STATIC owners, as the backbone of the network, provide the services needed to run the network. In addition to providing storage and computational power, they also oversee the addition of new information to the network.
- dAPPs & dAPP owners, offering STATIC-provided services in a user-friendly way, facilitate network access and help users benefit from its decentralized nature.
- Users and others looking to take advantage of a fully decentralized network in various aspects of their daily life.
XBY & XFUEL
The short answer: users will use XBY to use the dAPPs and dAPP owners will use XFUEL to pay for the services offered by the STATICs.
All dAPPs developed by XTRABYTES will be built on this principle and this will also be a requirement for any dAPP that is run on our network.
To give a simple example:
Someone developed a dAPP that allows people to book a service. However, the app requires data storage & P2P transactions. The user who wants to book the service will pay the dAPP owner in XBY. And the dAPP owner will pay for the data storage and P2P transaction service in XFUEL.
This will create 2 markets, a market between the users and the dAPP owners for XBY and a market between the dAPP owners and the STATIC owners for XFUEL.
As the network grows so will the number of people using dAPPS. Likewise, dAPPs that require STATIC-provided services will grow as well. Together, we expect these dAPPs to have a positive influence on the supply/demand equilibrium of XBY and XFUEL.
Besides the service fees the STATIC owners will receive from the dAPP owners they will also receive the transactions fees for both the XBY and XFUEL transactions.
On top of that, both coins can be used to register a STATIC node or buy a future XIP token (tokenized shares of XTRABYTES Intellectual Property). This would have the added benefit of including STATIC owners in the XBY market and users in the XFUEL market.
Valuation
The intrinsic value of both XBY and XFUEL is considered equal, meaning that; where both XBY and XFUEL can be used for the same purpose in the network, 1 XBY equals 1 XFUEL. (For example 1 XIP = 1000 XBY = 1000 XFUEL, or level 1 STATIC = 500k XBY = 330K XBY + 170k XFUEL).
We expect that the market value for both coins will achieve equilibrium as a result. However, its ultimately the market that will determine the price of both coins and savvy traders will find themselves able to profit from fluctuations between these markets.
Contrary to what most cryptocurrency projects seek to accomplish, XTRABYTESTM is building a platform that will bring the benefits of decentralization to a variety of everyday tasks (beyond simply serving as an alternative payment processor). Consequently, XTRABYTES intends to provide blockchain solutions that offer greater functionality than currently found in other cryptocurrency projects.
Although decentralized P2P payments have long been the mainstay of the crypto industry, we seek to substantially improve their accessibility. In particular, we intend to broaden the scope of payment options available to individuals who engage in a variety of different types of transactions.
Accordingly, weve identified various payment mechanisms suitable to such interactions (all of which retain unique technical requirements). Among the many payment methods identified are:
- instant peer-to-peer payment
- automated payments linked to smart contracts
- fee-less micropayments
- ...
Our Solution
Combining these payment methods in one coin typically necessitates technical compromises. At XTRABYTES, we believe its far better to simply incorporate two coins to meet this need.
By allowing for two coins, were able to provide users with access to two blockchains (both of which are compatible with one or more specific payment methods) that each have their own technical specifications.
Moreover, our platform enables us to link different types of payment methods to different types of users. While some of these transactions will occur on the client-side of the platform, others will take place on the server-side. This is one of the primary reasons we created XFUEL.
Although we have faced continued criticism about creating a second coin, we appreciate the fact that community members did not have this information and so could not accurately judge this decision.
By retaining two different blockchains, were able to optimize the many different payment methods that our platform will require. As you can see, XFUEL was not created simply as a means to pay for work and development.
Who's who
The big question on everyone's mind is How do XBY and XFUEL fit into the network?.
To start we need to identify the main entities that will make up our network:
- STATICs & STATIC owners, as the backbone of the network, provide the services needed to run the network. In addition to providing storage and computational power, they also oversee the addition of new information to the network.
- dAPPs & dAPP owners, offering STATIC-provided services in a user-friendly way, facilitate network access and help users benefit from its decentralized nature.
- Users and others looking to take advantage of a fully decentralized network in various aspects of their daily life.
XBY & XFUEL
The short answer: users will use XBY to use the dAPPs and dAPP owners will use XFUEL to pay for the services offered by the STATICs.
All dAPPs developed by XTRABYTES will be built on this principle and this will also be a requirement for any dAPP that is run on our network.
To give a simple example:
Someone developed a dAPP that allows people to book a service. However, the app requires data storage & P2P transactions. The user who wants to book the service will pay the dAPP owner in XBY. And the dAPP owner will pay for the data storage and P2P transaction service in XFUEL.
This will create 2 markets, a market between the users and the dAPP owners for XBY and a market between the dAPP owners and the STATIC owners for XFUEL.
As the network grows so will the number of people using dAPPS. Likewise, dAPPs that require STATIC-provided services will grow as well. Together, we expect these dAPPs to have a positive influence on the supply/demand equilibrium of XBY and XFUEL.
Besides the service fees the STATIC owners will receive from the dAPP owners they will also receive the transactions fees for both the XBY and XFUEL transactions.
On top of that, both coins can be used to register a STATIC node or buy a future XIP token (tokenized shares of XTRABYTES Intellectual Property). This would have the added benefit of including STATIC owners in the XBY market and users in the XFUEL market.
Valuation
The intrinsic value of both XBY and XFUEL is considered equal, meaning that; where both XBY and XFUEL can be used for the same purpose in the network, 1 XBY equals 1 XFUEL. (For example 1 XIP = 1000 XBY = 1000 XFUEL, or level 1 STATIC = 500k XBY = 330K XBY + 170k XFUEL).
We expect that the market value for both coins will achieve equilibrium as a result. However, its ultimately the market that will determine the price of both coins and savvy traders will find themselves able to profit from fluctuations between these markets.
i really feel like we should focus on tech over price and the tech relies on patents...so...will the model be of any use until the patents are done?
btw why did you include a "click here to buy XFuel and Xtrabytes" to the post?
https://blog.xtrabytes.global/general-crypto/exchanges-information-disclosed/
Do you guys know what the next exchange plans are?
Do you guys know what the next exchange plans are?
https://medium.com/@bdratings/xtrabytes-update-ii-scam-4492816fba91
Can you contact the author of this article @CCRevolution. I don't think alot of the stuff listed in this review is true
Can you contact the author of this article @CCRevolution. I don't think alot of the stuff listed in this review is true
https://medium.com/@bdratings/xtrabytes-update-ii-scam-4492816fba91
Can you contact the author of this article @CCRevolution. I don't think alot of the stuff listed in this review is true
Can you contact the author of this article @CCRevolution. I don't think alot of the stuff listed in this review is true
So....patents were promised in 2018, and they were "worked on" and "would be finished" by end of 2017, then jan, then feb, then april, then 2018, how did CCR not lie to everyone exactly?
Reminder : ETN took 7 months for patent pending, how is XBY taking 1.5 years when a patent can be granted fully in just 2-3 years?
Reminder : ETN took 7 months for patent pending, how is XBY taking 1.5 years when a patent can be granted fully in just 2-3 years?
Did the former CEO of Xtrabytes just call the project a pump and dump? LOL
_______________________________________________________________________________ ________
[2:17 PM] alroth: Hi @everyone
Ashley and I understand the disappointment investors are experiencing. We had come to a cross roads with the Founders, in which there is a fundamental issue that we could not resolve. One Founder wants to treat this project as a coin, while we were treating it as a software development company.
Unfortunately, I saw no way forward, So I resigned on February 4th. The Founders continue to state we are in negotiations. I trust this will bring some closure. We are not. We had a core issue that brought us to where we are today (this was not about ownership in the company). I prefer not to air our differences in a public forum so please dont ask. Our interest was in growing XTRABYTES Ltd. to a sustainable business ensuring that the Founders, employees and investors prospered instead of continuously marketing a coin for some to realize a short-term gain.
I would like to thank the employees who dedicate their valuable time and skills. Without you, this project would not be where it is today. It was great to work with such a passionate team. The leadership team were just beginning to align their deliverables with the overall strategy. To the leaders, I would like to thank you for your endless hours and devotion to the project. Your execution of strategic plans was flawless. Thirdly, Id like to thank the Founders for the opportunity to lead your company, even if it was a brief 6 months. Remember that there are more than 2 of you in this company. Approximately 50 employees livelihoods are at stake. They have dedicated many hours to assist you in becoming profitable and deserve compensation or the ability to convert to fiat so they can pay their bills and earn a living. And finally, to the community, I would like to thank you for the accolades and support. While there are differences in opinions, we hope to see the tech in market tied to a security token where everyones investment is protected in case the tech/company is ever sold.
Thanks
Al.
_______________________________________________________________________________ ________
[2:17 PM] alroth: Hi @everyone
Ashley and I understand the disappointment investors are experiencing. We had come to a cross roads with the Founders, in which there is a fundamental issue that we could not resolve. One Founder wants to treat this project as a coin, while we were treating it as a software development company.
Unfortunately, I saw no way forward, So I resigned on February 4th. The Founders continue to state we are in negotiations. I trust this will bring some closure. We are not. We had a core issue that brought us to where we are today (this was not about ownership in the company). I prefer not to air our differences in a public forum so please dont ask. Our interest was in growing XTRABYTES Ltd. to a sustainable business ensuring that the Founders, employees and investors prospered instead of continuously marketing a coin for some to realize a short-term gain.
I would like to thank the employees who dedicate their valuable time and skills. Without you, this project would not be where it is today. It was great to work with such a passionate team. The leadership team were just beginning to align their deliverables with the overall strategy. To the leaders, I would like to thank you for your endless hours and devotion to the project. Your execution of strategic plans was flawless. Thirdly, Id like to thank the Founders for the opportunity to lead your company, even if it was a brief 6 months. Remember that there are more than 2 of you in this company. Approximately 50 employees livelihoods are at stake. They have dedicated many hours to assist you in becoming profitable and deserve compensation or the ability to convert to fiat so they can pay their bills and earn a living. And finally, to the community, I would like to thank you for the accolades and support. While there are differences in opinions, we hope to see the tech in market tied to a security token where everyones investment is protected in case the tech/company is ever sold.
Thanks
Al.
Where is your proof that Borz is a scammer?
check some posts back, he has 2 other failed projects, what makes you think that this one will be successful?
enjoy your worthless unpatentable waves token without any of the buzzword features (WXBY is not XBY, and you can't have XBY directly on the Dex)
__________________
9:49 AM] alroth: Hi @everyone
For those of you curious about the Waves Exchange token creation (XTRABYTES and XFUEL), we are looking for a mechanism to allow folks to trade while we are waiting for the larger exchange applications to be processed. We are currently working with a DEX called Waves. At this point we are putting together a manual process while we wait for our application to be approved.
Many of you have expressed interest in trading without a vehicle to do so. We are working on the documentation currently to walk you through how to trade on this platform using the manual process. Please be patient while we work through the process and are able to deliver a document.
Thanks
Al.
__________________
9:49 AM] alroth: Hi @everyone
For those of you curious about the Waves Exchange token creation (XTRABYTES and XFUEL), we are looking for a mechanism to allow folks to trade while we are waiting for the larger exchange applications to be processed. We are currently working with a DEX called Waves. At this point we are putting together a manual process while we wait for our application to be approved.
Many of you have expressed interest in trading without a vehicle to do so. We are working on the documentation currently to walk you through how to trade on this platform using the manual process. Please be patient while we work through the process and are able to deliver a document.
Thanks
Al.
Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
coin is a scam unfortunately
with the chain being hacked, i stand by this. Huts don't make $$$ unless you live in one, and even then they don't. Need some real programmers to stop this coin from being hacked left and right.
Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
!!!!!!Scam Warning : Red Flags Listed below!!!!!!!!
1. The original owner abandoned this coin after he found platforms to be unprofitable. https://bitcointalk.org/index.php?action=profile;u=380677 This is the original owner.
2. Cryptohub has been hacked and has lost 80% of all AU located on the exchange. https://cryptohub.online/ (Hit by DDOS and taken offline)
3. Address Balance (AU) %
1 17F3CyuAFxnGu3fRVCiS3ZRArxrVetU494 49002.52474750 16.40
2 12p96MtRb7rGYozfD4yxyDgUiRThynZeNR 48704.21200000 16.30
3 1P6T8FBKfCEj2ZKuXsR5QraMQfUGfEEw7b 37110.10280700 12.42
These three Address control over 50% of the Aurumcoin supply.
4. This coin has been hit by several hacks, pump and dumps and 51% attacks.
5. The team is fairly incompotent (unfortunately) and is not able to properly maintain this coin (hence the security flaws)
PLEASE BE CAUTIOUS WHEN INVESTING IN THIS COIN, YOUR INVESTMENT MAY NOT BE SAFE.
_________________
lol holders dont make the scam, the creator does (and the current fairly incomptent team if i'm brutally honest) and the original creator already abandoned this coin. The fact that the 3 wallets holding half of all of the coins is not the creator of the coin (or if he is and the fact he abandoned it) is a good incentive for it to be dumped in the future. The only reason they probably didn't sell yet is the fact that there is no volume and liquidity
also auking...whoever runs that twitter is...wow. That article is available on the front page of google, but it was due to an outlier on CMC's exchange detection. Someone bought a small amount on cryptohub which led to the glitch on CMC, but more than anything that same exchange has now got hacked and lost 80% of all aurumcoin
an even distribution is healthy and this coin doesn't have that hence it's really a coin that no one should ever invest in
1. The original owner abandoned this coin after he found platforms to be unprofitable. https://bitcointalk.org/index.php?action=profile;u=380677 This is the original owner.
2. Cryptohub has been hacked and has lost 80% of all AU located on the exchange. https://cryptohub.online/ (Hit by DDOS and taken offline)
3. Address Balance (AU) %
1 17F3CyuAFxnGu3fRVCiS3ZRArxrVetU494 49002.52474750 16.40
2 12p96MtRb7rGYozfD4yxyDgUiRThynZeNR 48704.21200000 16.30
3 1P6T8FBKfCEj2ZKuXsR5QraMQfUGfEEw7b 37110.10280700 12.42
These three Address control over 50% of the Aurumcoin supply.
4. This coin has been hit by several hacks, pump and dumps and 51% attacks.
5. The team is fairly incompotent (unfortunately) and is not able to properly maintain this coin (hence the security flaws)
PLEASE BE CAUTIOUS WHEN INVESTING IN THIS COIN, YOUR INVESTMENT MAY NOT BE SAFE.
_________________
lol holders dont make the scam, the creator does (and the current fairly incomptent team if i'm brutally honest) and the original creator already abandoned this coin. The fact that the 3 wallets holding half of all of the coins is not the creator of the coin (or if he is and the fact he abandoned it) is a good incentive for it to be dumped in the future. The only reason they probably didn't sell yet is the fact that there is no volume and liquidity
also auking...whoever runs that twitter is...wow. That article is available on the front page of google, but it was due to an outlier on CMC's exchange detection. Someone bought a small amount on cryptohub which led to the glitch on CMC, but more than anything that same exchange has now got hacked and lost 80% of all aurumcoin
an even distribution is healthy and this coin doesn't have that hence it's really a coin that no one should ever invest in
Yeah you have to be careful with this coin
1. By abandoning the project it leads to a lack of confidence in the project. But more than anything, the general incompetence of the current "team" is a bad thing as they are unacknowledgeable about how crypto AND gold works. Gold requires licensing and can take a year+ for approval and will not only need this coin to be stable, but it will need to have some way to be audited. This coin is NOT stable and has had MANY pump and dumps. No one in the community has even put forth any structure to back it by gold, even WHEN the value was there, the only thing spouted was the generic "HODL, MONEY IS COMING REEE"
2.No argument, it's been proven that CH has been hacked and DDoS'd and 80% of the supply was stolen.
3. Why would having the top 3 wallets control 50% of the supply of a coin be a good thing? If you want the value to be stable you don't want such uncertainity. This is bad, no matter how you look at it.
4. Look at CMC, lots of pump and dumps have taken place. If you look at the SC, it's SUPER easy to 51% attack this coin.
5. Team is incompetent yes, see number 1.
= NO ONE, ITS A SCAM
it's important to give people something of substance
if you don't then people wont buy, you need to address these problems
Now the chain itself was hacked and all trading has been frozen, how will you deal with that AND these issues?
Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
Sorry mate, I was being honest about how this coin has been hacked and the creator abandoned this coin. Want me to lie and say that this isn't the truth?
if you mean AUKING, he's the most oblivious guy ever. He's either a fantabulous magical troll from the land of narniaikanalzmabsdapolis or a guy whose watching his investment die before his very eyes and is in denial.
Also no need for name calling, take your anger out on the people who control 50% of the supply of this coin, that would shut them up
to quote a smart man who once looked at this coin
"y'all ded and going to the poor house"
if you mean AUKING, he's the most oblivious guy ever. He's either a fantabulous magical troll from the land of narniaikanalzmabsdapolis or a guy whose watching his investment die before his very eyes and is in denial.
Also no need for name calling, take your anger out on the people who control 50% of the supply of this coin, that would shut them up
to quote a smart man who once looked at this coin
"y'all ded and going to the poor house"
Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
the chain was hacked due to CVE-2018-17144
trading was paused on cryptopia so you can't buy or trade anyways, hence proving what i've been saying has been right for a long time
trading was paused on cryptopia so you can't buy or trade anyways, hence proving what i've been saying has been right for a long time
Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
because you have no idea who the owner of 50% of the coins are, an exchange was hacked and 80% of the coins were stolen, the owner abandoned this coin and now you've just found out about like 1 out of 10 different flaws in the coin that resulted in your coin being hacked
read this : the network ITSELF was hacked AND exchanges were hacked for this coin
read this : the network ITSELF was hacked AND exchanges were hacked for this coin