Topic: I have no clue whether XBY is the future of crypto or the most professional scam (Read 160 times)

To be the future of crypto is 100% far from reality, but to have a good price maybe it can have a chance. I have always a big doubt every time I heard an altcoin speak too much as if more than superior than bitcoin.

Stolen account Airflame acocunt have been stolen look out !

More info here:
https://bitcointalksearch.org/topic/m.23913134

whats so strange about that,they say they have their own code made from scratch and they want to protect it with 4 patents so in future there won't be any other projects using their code.now is closed source and there is no proof that exist but after they deal with patent and it gets on hold they said they will release the code and start testnet on their new code which apparently can process 10k tx/s.so for now its all in the air,could be scam could be real...who invest in xby and it turns out its real deal they they hit jackpot if it turns out scam they lose all pretty much,so all in all its worth the risk. there is fud going on for this project but even eth back in the days was called scam so lets see how this turns out,few months is worth the wait

No public team and appears to be only one developer
https://github.com/borzalom/XtraBYtes/graphs/contributors

6 all up but 1 has 1 commit, 3 have 4 commits, 1 has 10 and one has 101 commits, not what I would expect to see from a team using github as their repository.

Let me break it down
fluorine
1 commit, a read me

tedlikeskix
4 commits, a logo and some memes

lestshad
4 commits, all documentation

borzalom
4 commits, About a days worth of code

bumbacoin
10 commits, bit of code

jcpbs
101 commits, the main developer and code for xtrabytes

For what they are offering, no way one person can pull off that roadmap, sounds like a scam to me.

Wait, what sort of project announces they'll submit a patent in the future?  They dont have the technology now?  They need a month to write up thier ideas?  And why they even need a patent, rest of cryptoland is getting on with open source.  

I would not get into this as it smells way much for a sound project. If this is real it will be amazing for the crypto universe and I'll be fast to invest but I'm not risking anything to see it. I'd trust the risk factor on some other projects...

well they just announced patent for early-mid april so soon we will find if this is real or not

Growing organically can happen on a big exchange, not really an excuse. Plus at some point you will have to get listed on another exchange to grow further. I think XBY did actually start out as a scam when the ICO team exited but I've been hearing much praise these past couple of months. It's always tricky to find out if something is a scam, and even when it is there are people still in it.

I believe Fusion ICO raised 42MM and claims partnerships with VEN and QTUM, both VEN and QTUM denied such partnerships exist and said to be cautious. But yes you read that right, they raised 42MM, for an ICO that started out on lies. I can't expect much from it, it also didn't do KYC which seems to be the norm these days though.

Its still very hard to figure out if these things are a scam or not, I also got into LuxCoin when everyone shouted scam, and it was a very real possibility that the devs would dump their pre-mine and leave, they didn't however and the coin had a good bullrun 20-40x depending on your early entry.



It might be best to contact their team directly and get to see their prototype, MVP or whatever they have so far and review it. I assume they're open-source on GitHub? Try find a developer and let him take a look and report what you find? Or if its really that amazing, but you're not sure, put in something very small and just wait it out. The return might be less but if you wait for confirmation of its legitemacy than I suppose you can still make good returns.

I'll say that it is 100% impossible at the moment to make that determination with 100% certainty right now.

Personally for me there is more evidence pointing towards XBY being real then not, and by real I leave open the chance that the team truly believes they can accomplish what they set out to but falls short in the near term.

One of the biggest things that adds credibility is the decision to get a patent.
There is no reason to say you're going to get a patent if you're going to scam people; if you're trying to obscure the code you can make it closed source. Not only that but at some point you have to obtain patent pending status and people are only going to hang around for so long waiting for that. That means you actually have to file for a patent and people are going to see it.

Other than that pretty much everything can be spun as a mask or facade. The github for xcite, the ramped up marketing, the lack of pursuit of big exchanges, testnet 3, zolt, the new jobs they're listing, active devs on discord, Xfuel, etc.

now imo you have three possible future scenarios that can be assigned a estimated %likelihood of happening for example (making up percentages):
1) XBY is vapor and will fall apart in the next 3-6 months 10%
2) XBY is not vapor but there are inherent problems with the code short term 20%
3) XBY is not vapor and has nothing but minor flaws in the code 70%

Next you look at potential losses/returns for each scenario:
1) lose 50-80% of your investment
2) may go up due to less uncertainty about the team/project and more transparency could also go down so let's say it stays where it's for 3-6 months
3) goes up 5-10x in the short term and will likely end up in the top 20 by main net


Using whatever percentages you assigned you can then determine if the risk reward ratio is worth it, hedge the percentage you assigned to the vapor and maybe the flaw category into a safer project, and continue on with life.


That's just my approach though. Not investment advice and all example numbers are hypothetical.

For the last 2 days straight I researched XTRABYTES (XBY) throughout all possible information sources and I cannot make up my mind whether it is the most amazing thing ever happened to crypto or the by far most professional scam.

Many people say there is no proof it is a scam, however, I do not find any proof it really exists at all neither. All I see are nice animations of a potential UI, but I saw the same with the scam Moirai ICO.

Fans just say how great they think it is that the team is too humble to participate in big exchange votings because they want to grow organically (maybe they are just scared what would happen if a big exchange lists them?).

I guess the main problem in that matter is trust. After so many articles about red flags and equally many articles praising XBY, I do not know anymore whether the defense articles are genuine reports who want to mitigate fud or just shilling investors who want to rip off smaller investors.

What do you think about XBY and did you find any (somewhat) objective posts on that matter?

Thanks