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Xtrabytes ( XBY )

  • 27-01-2018 9:16pm
    #1
    Registered Users Posts: 207 ✭✭ lordlame


    Currently $0.33 a coin - lots of “paperwork” going on in the background, apparently waiting on a patent to be approved

    https://community.xtrabytes.global/threads/update-for-patents.533/

    Several testsnets done already, seems to be a decent sized community so far and devs are updating on a constant, albeit slower basis.

    Was also mentioned in the Weiss report but I kind of took that report with a pinch of salt.

    Any one invested in this?


Comments

  • Registered Users Posts: 1,552 ✭✭✭ WhiteMemento9


    I looked into this a decent bit but in the end decided not to invest.

    Some things that rang alarm bells.

    - Its original roots are in a scam ICO.
    - Code is not publicly available due to the patent pending thing. No way to check the validity of anything.
    - The developers aren't too fond of putting themselves in spotlight.
    - The forums and chat seem to be highly censored by the admins.
    - The have already run Testnets a while back. They are now running more Testnets.
    - No dates given for mainnet launch.
    - The whole story around the lead developer is off putting. He is supposedly some recluse, who is half blind and is locked away in a room with nothing but a focus on coding and family all day every day. Seems a little overcooked on messiah angle to create some kind of cult hero following.
    - If you look at the testnet results they are running the test on a fork of the BTC protocol. Again this is down to patent pending stuff according to them.

    You can read a really detailed criticism of the project here -
    https://www.reddit.com/r/CryptoCurrency/comments/6g9gez/long_read_but_a_must_before_investing_in_xby_be/

    The community have counters to all of these points but the whole project does not sit right with myself.

    Look that post is all very negative so please do your own research and you may feel it is worth a gamble as the upside if they managed to deliver is massive.


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