XBY was way overhyped.
I don't know if its a total scam but it got pumped, and it gained a cult following overnight.
People were acting like it was the next revolution in crypto, which is a pretty big claim.
Remember its very easy to manipulate the price of a new coin when it has a small market cap and is only on a couple small exchanges.
Maybe XBY end up being good but its got a small team working on it and for me that means it will be a while before I think a coin is worth more than a few million market cap.
(Unless I have some inside information or the developers have a proven track record on other projects.)
Topic: Is Xtrabytes a scam? - page 2. (Read 2459 times)
I bought in at 60 satoshi. I had to go to sleep at 3 am and couldn't wait for bitcoin to clear on ccex or I would have been in at 30 satoshi with twice as much lol. It was dodgy then, it is dodgy now. I never tried to get anybody to buy this coin over like 200 satoshi because (sing it with me everybody)
BUY LOW
SELL HIGH
Xtrabytes is a goof. If it ends up "really" being the miracle elixir people dream it could be just because the developers say they invented a new proof of ___ idea, I still have 25K socked away just in case.
I guess ultimately the problem is people still believe they are buying low with it on the edges of the top 100 and not in say the top 50.
BUY LOW
SELL HIGH
Xtrabytes is a goof. If it ends up "really" being the miracle elixir people dream it could be just because the developers say they invented a new proof of ___ idea, I still have 25K socked away just in case.
I guess ultimately the problem is people still believe they are buying low with it on the edges of the top 100 and not in say the top 50.
It's an admitted scamcoin which got revived by "devs" with a questionable track record admitting they don't know if they'll be able to deliver, with even higher transaction fees than Bitcoin, with different levels and importance of (master)nodes, an untested signature system, without a whitepaper, with the worst naming scheme I have ever seen in crypto and it's even dishonest as it's advertised as it didn't have a premine while that would be impossible since it started as an ICO and it's not outlandish to think that most of the funds belong to a handful of people since this project was mostly - rightfully - ignored at the beginning.
I'm not saying it's a scam but it looks like, smells like and talks like a shitcoin and a terrible investment opportunity - regardless of all the dumbasses and sockpuppet accounts claiming otherwise.
I'm not saying it's a scam but it looks like, smells like and talks like a shitcoin and a terrible investment opportunity - regardless of all the dumbasses and sockpuppet accounts claiming otherwise.
The more I hear about these sorts of things on this coin the more confident I am in my initial assessment that it's nothing but a means for some of the scammed investors in the original coin to get their money back. There was nothing new about the coin, just modify things a little, call them something else and get the hype train going to drive the price up. And when looking at the history of the dev who went from just being a no name investor so suddenly calling himself a crypto developer it was obvious that it's a coin to stay away from. I might as well call myself a crypto dev with all the code I've written to do a variety of crypto related things lol.
Probably just early adopters taking profits... they got in for virtually nothing.. it will take time to loosen out those hands. The dump in and of itself is no reason to suspect anything. I'll continue holding and wait to see what they bring to the table since I'm in pretty low and am pretty diversified anyways.
I don't like their recent developments is trying to sell the static nodes... I'm not paying.. let's not get greedy here.. if they want everything to be on the up and up, they'll open up static node registration at no cost.
In any case, I await the static chain and the retirement of the current chain. If they don't do that within a month, I'll dump what I have. It's what they promised after all.
In the meantime.. I just rotated some coin out of NEM and into Ardor to further diversify my holdings. I believe Ardor with the child chains could compete with ETH down the road. It's ETH but more scalable.
I don't like their recent developments is trying to sell the static nodes... I'm not paying.. let's not get greedy here.. if they want everything to be on the up and up, they'll open up static node registration at no cost.
In any case, I await the static chain and the retirement of the current chain. If they don't do that within a month, I'll dump what I have. It's what they promised after all.
In the meantime.. I just rotated some coin out of NEM and into Ardor to further diversify my holdings. I believe Ardor with the child chains could compete with ETH down the road. It's ETH but more scalable.
So its a dodgy project?
The mouthpiece of the project, CCR, is a complete imbecile! If Xtrabytes wants to be a successful project in the future Borz better get rid of this clown ASAP!!
I invested a portion of my rather small holdings into XBY after reading the announce thread and reading that it's a new blockchain technology (comparable to Iota) but still not known by many so that there is a lot of potential for growth for a long time holder.
But after the price dump yesterday I stumbled upon this post on reddt and at the moment, I'm quite worried.
https://www.reddit.com/r/CryptoCurrency/comments/6g9gez/long_read_but_a_must_before_investing_in_xby_be/
The post seems well researched and is not aggressive while the comments are just attacking him.
Anybody has more info on this?
But after the price dump yesterday I stumbled upon this post on reddt and at the moment, I'm quite worried.
https://www.reddit.com/r/CryptoCurrency/comments/6g9gez/long_read_but_a_must_before_investing_in_xby_be/
The post seems well researched and is not aggressive while the comments are just attacking him.
Anybody has more info on this?
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