Topic: [ANN] Bytecent - Blockchain Powered Social Rewards Network - Bytecent.com - page 6. (Read 160297 times)

Hello,

I have mixed feelings about ICOs, most projects that raised millions are no longer in development. It reminds me of the dot com boom. I am sure many developers had every intention of delivering on their promises, but for whatever reason their projects failed. Giving someone $7+ million for a project with little business experience will end in tears.

When I first launched Bytecent I categorized it as a crowdfunding project and not an ICO although some called it an ICO. We raised $30,000, and the funds went into development. A low budget forced me to spend the money wisely and not go a spending spree.

At this stage a new ICO would just cause confusion and it’s unnecessary to raise funds. We are still working on the valuation, but it will make sense to investors. Also, the seed round will be capped around $400,000 and I am also investing my personal money. A project like this doesn‘t need millions to start, and as we grow, we will consider additional funding.

As for the Bytecent market cap, it’s a non-factor. I know for most coins we use the market cap to determine the ”popularity” of the coin, but it is not an indicator of the success of the project. A coin can have a market cap of $10,000,000 and development is nonexistent. I can buy $5000 worth of Bytecent and make the market cap increase to $210,000. If I purchase $23,000 worth of Bytecent the market cap would increase to $1,000,000. Does that mean Bytecent is now more popular today than it was yesterday? No, it means someone bought a bunch of Bytecent.

That is why when we had the rewards apps running Bytecent was stable. Little supply and enough demand kept the market stable. Once we launch the new social rewards network the demand will be much higher and the market cap will be in the millions.

I read somewhere on Twitter we don’t have a business plan, of course we do, that is ridiculous. Once we complete everything, I will share the plan with anyone serious about joining us. A lot of time and research has gone into putting this together. Bytecent was never about a big payday for me, I enjoy building something people can use. When Bytecent went to $3+, I could’ve taken the profit from my coins and find something else to do. But I remained here because I believe in Bytecent and I want to see it succeed beyond just the value of the coin.

Lastly, anyone interested can buy Bytecent and also invest in the company, they don’t have to do either or. As the value of Bytecent goes up, they can sell their Bytecent anytime they like. However, they will also own shares in the company and benefit financially as the company grows. But they will also have a voice in the company and they will have some say on what happens, instead of just hoping the dev in the forum will listen.

Best,
Christopher

Thanks for the update.  Interested in hearing more about the business plan, terms etc.  Is it your opinion that the best way to get investment exposure to your project is direct investment instead of buying coins (considering the 60K USD market cap and scarcity driving price)?

As for the critics of me and Bytecent...

In 2014, you said I would abandon Bytecent after a few months, that didn't happen. I am still here four years later.

In 2015, you said Bytecent would die within a year, that didn't happen. Bytecent is still here with active development.

In 2016, you said the new Bytecent wallet would never be released, it was released that year and it's still one of the best wallets in crypto.

in 2017, you said our partner would never release a new app. Our partner did release the app and several months later the price of Bytecent skyrocketed to $3.21.

In 2018, when Bittrex delisted Bytecent you said the coin was dead. Bytecent is now listed on Stex, and with the help of the community we will list Bytecent on several more exchanges soon.

A few weeks ago, you said the new website will never launch and yet there is a new website and forum as promised. I will argue it's our best website to date.

People have doubted me and Bytecent for four years, and each time they have been wrong. It takes years for a company/project to mature, it doesn't happen overnight. And no company/project is perfect. There are missteps, mediocre ideas, and yes failures. However, you learn from your mistakes and continue moving on.

I have spent the last two years researching machine learning, artificial intelligence, and the nuances of social media. If you follow me on Twitter you know I developed a free service for classifying and tracking political trollbots using machine learning and artificial intelligence. I am using what I have learned and applied it to the new Bytecent social rewards network. I have quietly researched the other services in this space, and I know where they fall short. My area of expertise is not inventing something new but making things better and easier for the average individual. I did that with the Bytecent wallet, I did that with tracking trollbots, and I will do it again with social rewards and influencer marketing.

So while critics criticize me and mock Bytecent, I will continue to push forward and in a few months we will launch our new social rewards service. Bytecent and I will be here another four years, and hopefully the people in this community will continue to take this journey with me. People who are smart and patient enough to hold on to their Bytecent will be rewarded like the people who were patient when Bytecent went to $3.21.

Best,
Christopher

Hello everyone!

Yesterday I announced our new social rewards network, and I laid out what to expect in a few months. I also announced I am launching a new company for Bytecent.

Before I talk about the Bytecent company, I want to take a few minutes and share my thoughts about crypto. As you guys know, there are over 2000 cryptocurrencies, and most cryptocurrencies do the same thing. They might use different algorithms and POW/POS methods, but at the core, they are almost the same. Why use altcoins when you can use BTC and accomplish the same thing as most cryptocurrencies? 

Let’s be honest, most cryptocurrencies are a solution in search of a problem. They might have an innovative algorithm or some other novel technology, but they are not solving anything most other cryptocurrencies haven’t already solved. 

So when I was creating the business plan for the Bytecent social rewards network, I needed to be honest with myself. If the Bytecent cryptocurrency was going to be successful, I needed to have a service that would make the Bytecent cryptocurrency successful and not the other way around. We would need to be laser-focused on being good at one thing, and the Bytecent cryptocurrency would gain traction. 

I decided I needed to launch a new company and build a solid team around the Bytecent service and cryptocurrency. I will hire a dedicated sales team for advertisers, a full-time development team, staff to handle support requests, and several other positions to build a stable company.

After four years, it’s time to take Bytecent to the next level, and the only way I can do that is with a team of professionals and a dedicated community.

Like any startup, I am raising seed capital and also investing my money. Unlike with the recent trend of ICOs, I am raising capital the traditional way. I feel CEOs have a fiduciary responsibility to their investors, and investors should be able to hold CEOs accountable when they are not doing their job well. ICOs do not protect investors, and in most cases, investors don’t have no say in the direction of the company. I watched hundreds of coins raise millions of dollars, and many of their developers underdelivered or just vanished. 

I am not slamming ICOs, but that is not the route I am going with the new Bytecent company. I want to give investors actual shares, a board of directors to help guide the company, and quarterly reports/meetings to update investors on the status of the company.100% transparency and accountability.

We are still working on a realistic valuation and the number of shares, but we will have everything completed next week. I decided I will start the seed round right here in the Bytecent community. I have learned the harshest critics are often the best motivators, and after four years of us taking this journey together, it’s only right to allow the people who supported the project to have an opportunity to be part of the company.

Also, many of you are crypto veterans, and you guys know what makes sense and what doesn’t. Seed investors don’t just invest capital, they also often offer their input and experience, and that is what Bytecent needs. I will give you guys more details sometime next, and then if anyone is interested, they can contact me. 

Have a great weekend!

Best,
Christopher

Thank you for support!

Thanks for your hard work! Looking forward to seeing it in action

Thank you for all your support over the years!

Awesome news!!

Thank you for all your effort and dedication to Bytecent's rejuvenation !


A round of applause for Christopher!!

Hello everyone!

This announcement will be long, but I encourage everyone to take the time to read it. I am breaking the announcement into two parts. The first is today and the second will be tomorrow.

The new website is finally up and we have merged everything into one website. The forum is live and I suggest everyone create an account and post their questions there. I plan to be active here and there, but as new people join the community, that forum will be more active. https://bytecent.com/forum/

You guys had a few days to review the new website, and now you guys know what we have been working on and the future of Bytecent. Some of you are probably wondering why we are focusing on social media rewards and influencer marketing.

For over two years we have experimented with several types of rewards, and with each experiment we have learned a great deal. We now have a good handle on what works and what doesn’t, and social rewards is the perfect fit for Bytecent. Most people have one or more social media accounts, and with our upcoming network they will receive rewards for promoting products and services for major brands and companies.

We are not the first to combine blockchain technology with influencer marketing, but we have streamlined the process and made is easier than anything available on the market. We also have features not offered anywhere else which will give us an advantage over competitors. Also, our network uses machine learning and AI, influencers will receive higher payouts based on their social media account performance.

In the past we used 3rd party networks to handle our content and also tracking. Once an action was performed, they would send us a “postback” and then we would reward the user. Many of the offers were unreliable or never paid out. We were unable to control the offers, so we were at the mercy of the 3rd party networks. We also had to pay our users less because the 3rd party networks took a cut of the payouts.

I decided our best option was to build a new network from the ground up and work with sponsors/advertisers directly. This meant we can control what is being offered and track the actions. With our new network users receive 100% of their rewards because our system handles everything, and we are able to pay more because we eliminated the middle man.

We could’ve went the easy route and just offer surveys and apps..etc, but I wanted to do something more substantial. I see so many people tweeting and posting about products and services on Instagram but many are not getting paid for it. So I wanted to change that and open the opportunity to everyone, not just influencers with large followings. Once we launch you guys will see just how we differ from the competition and why people will use our platform.

So now you are probably thinking “Ok that sounds great, but what about people who own and mine Bytecent, how do we fit in?” Just like in the past with our previous apps, we were required to buy large sums of Bytecent from the market for the rewards, and the same applies here. When a sponsor creates a campaign they pay in dollars, and each time an influencer is rewarded they are paid in Bytecent. The influencer can then trade the Bytecent for gift cards including VISA/Mastercard. They can also trade their rewards on the exchange. So as we have more demand from sponsors, the value of Bytecent will increase as it did before. 

We were purchasing $15,000 - $30,000 worth of Bytecent each month with the previous rewards app, and the price of Bytecent went from a few cents to a few dollars within months because of low supply. We expect a few months after launching the new network we will need to purchase $30,000+ per week because the payouts to influencers for tweeting and posting will be significantly more than installing apps or filling out surveys.

$15,000 - $30,000 per week or per month in buy orders is nothing for most coins, but I designed Bytecent from the beginning to always be in short supply, so any moderate demand will increase the value. There are only 43,200 coins mined per month, and we only have a supply of 2.5 million coins, and more than 30% of those coins are not in circulation.

Lastly, I am happy to announce we are starting a new company specifically for Bytecent. I felt after 4 years it was time for Bytecent to be an independent entity, it‘s time for Bytecent to shine. Tomorrow I will post more details about the new company and also listing Bytecent on more exchanges. 


Best,
Christopher

Hello everyone!

I will be making an announcement tomorrow at 1PM ET, stay tuned!

Best,
Christopher

Thank you!

Best,
Christopher

Hello everyone!

The new Bytecent blog is live! https://bytecent.com/blog/

Additional sections of the new website will be accessible to the public soon.

Also, you guys now have a better idea of what we have been up to and the future of Bytecent. I will go into further details once all of the sections of the website are available.

Best,
Christopher

Thank you and there is more to come!

Best,
Christopher

The new site looks great!

Hello everyone,

The new Bytecent website is live! https://bytecent.com/


Several sections of the website are still not visible to the public, but we will activate each section throughout the day.

The sections include forum, faqs, and our blog.

Also, you guys can finally get a glimpse of the Bytecent social rewards network, something we have been working on for quite sometime. I will go into further details about everything once we activate the other sections of the website.

Best,
Christopher

Hi Grinder,

I am happy to hear that! Every few weeks we will release an update to installer with the latest blockchain data. This will help reduce sync time significantly when installing on a new PC.

Best,
Christopher

Thanks for the update Christopher!

I just setup a permanent active wallet and was pleased to see it only had a few weeks of blocks to update.
A few hours to sync vs a few days is a major improvement!

Good morning everyone!

I am sure you guys want to know what the heck is the holdup, so I am here to give you guys a quick update. First some background; we have had the same server for over four years, and we have several different components on the server that several different version of the Bytecent wallet uses. So, for example, the latest version of Bytecent pulls data from the server to get real-time price data...etc. The old server was using a completely different environment than the new server, and when we moved everything over to the new server, we had to make changes to prevent old wallets and new wallets from not working correctly.

The second issue was when we moved the website from the test server to the new production server, we were getting odd error messages, and it took us some time to track down why we were getting the error messages.

If you visit the website now, you will see the "We are making upgrades to our servers..." The new server is live. If you don't the message, please make sure you clear out your DNS cache. Now we are making sure we fixed all of the problems all of that we converted all of the links correctly.

We will open the site to the public today, and I apologize for the delay. As I stated several weeks ago, I don't like giving firm dates because something usually causes a delay and if we push the date back some of you guys get annoyed. However, if I am not completely upfront and say "soon," some of you guys feel like I am not giving you enough information. This is why many developers quit or rarely post because they can never please everyone.

Best,
Christopher

Hello,

If you create a new account to post FUD your post will be deleted. People who own Bytecent are not new, they have been around for awhile. So if you can't ask your questions under your "real" account, don't bother posting FUD under a new account.

Best,
Christopher

You created a new account to ask this question? I will post updates throughout the day, we are working on it.