Danny — Today at 9:51 PM
A Team update September 5, 2021
To determine what the next steps would be for XTRABYTES after the loss of one of our founders and the resulting funding loss, a group of trusted people was selected by Zoltán in December 2020 and January 2021. This group of people came up with a plan for moving forward. The plan included a complete rebrand of the project and a new token economics. The group developed a schedule of sales rounds to speed up development and create a new foundation structure. The goal being to ensure the technology will be protected and delivered in the shortest possible amount of time.
The one rule of the group was to listen to and have votes for each solution. Resulting in a majority vote in favor of the way a full rebrand would move forward.
A new leadership group was formed to start the work including setting up the new brand with a business plan surrounding it. The results would be reviewed by external advisors and experts.
All of this was ready in early June. On the day of the announcement Zoltán pulled a veto, saying he doesn't support the rebrand anymore and wanted to keep the name xtrabytes at all costs.
The team wasn't in favor of this but still wanted to find the way forward that kept all parties happy. They spent another 2 months working closely with Zoltán on creating a proposal based on a split between a business section and XTRABYTES a community section.
Last week again at the day the announcement was planned to go out Zoltan pulled another veto saying that he doesn't want to launch because he doesn't want his name or technology mentioned in the business side of things. Zoltán’s opinion is that people buy into the "idea" and not into names or technology.
After this last move where the leadership was blocked for a second time, (Spending hours of work into the concept) there is no way they saw the current vision with a split setup working and moving forward. The sentiment shown by the community after the interim announcement confirmed our feelings.
The management team gave it a last try to convince Zoltán that a full rebrand with 200 percent dedication to a single project is the only option to pave a road for potential success.
Unfortunately the management team could not come to an agreement with Zoltán.
He wants to keep holding on to the current name and economics of XTRABYTES at all costs.
Due to all of these events the management team sees no other option than to comply with Zoltan’s wish to let him continue the xtrabytes project as he wants.
The current (management) team will resign from the XTRABYTES project immediately.
We feel that the road Zoltán has taken will result in a permanent delay with the Technology delivery.
We are going to move forward with our eye on success, without harming the existence of XTRABYTES.
As from this moment the XTRABYTES project will be led by Zoltan and by Zoltan alone, any further questions can be addressed to him.
-Leadership team
@everyone
Basically Borz has killed his own project
Topic: [NEW XBY ANN] XTRABYTES - A NEW ERA BEGINS (Read 28381 times)
That’s why you swap your xby/xfuel to the rebranded project. The new project will have the better fundamentals (money/devs) and I expect the old will just fizzle out over time.
Where is the logic in creating a second project with the same Tech that will be competing for the same customers ?
It doesn't make sense to me either. The new entity if it goes ahead will have a much greater chance of success as it will have the funding and dev resources that Xtrabytes has never had nor will have.
There's a further announcement to come, so we'll have to wait for that.
That’s why you swap your xby/xfuel to the rebranded project. The new project will have the better fundamentals (money/devs) and I expect the old will just fizzle out over time.
Or maybe they just pretended during 3 years that they had something, but they have been paid for actually getting no actual result for the investors.
The team wallets are largely untouched though - you can easily find them on the block explorer. They are the ones with regular monthly payments of xfuel.
Payment for what exactly lol. 3 years now, and still nothing. Not even the begining of anything.
I think you may be surprised.
Probit and Crex24
Or maybe they just pretended during 3 years that they had something, but they have been paid for actually getting no actual result for the investors.
The team wallets are largely untouched though - you can easily find them on the block explorer. They are the ones with regular monthly payments of xfuel.
so anything new to share ?
Nope. The last official announcement in the Discord was back in May. Also the Discord and Telegram chats are still locked.
https://ibb.co/fCCVnyq - This was the last official update in the Discord Announcement Channel
Soo come back in 2-3 years like last time ?
I think if we don't hear in the next 2 months that the seed funding has been successful then we can consider the project totally dead.
starting to look that way yes.
If it was so revolutionary as they seem to think it is I would think they would have something to report by now. i guess the companies they contacted disagreed.
Perhaps it's something non-tech related they are still thrashing out. There is a lot more to making a deal than just the tech.
so anything new to share ?
Nope. The last official announcement in the Discord was back in May. Also the Discord and Telegram chats are still locked.
https://ibb.co/fCCVnyq - This was the last official update in the Discord Announcement Channel
Soo come back in 2-3 years like last time ?
I think if we don't hear in the next 2 months that the seed funding has been successful then we can consider the project totally dead.
Shutdown all chat and then just Go Dark No Updates Nothing .. after 4 years of bullshit and delays .. seriously ?
Cant even be bothered to give any kind of update ..
Cant even be bothered to give any kind of update ..
Don't fret, DJC73 is still here... lol
as is XBoomerY
Small update from Donovan: "What Charles said is right. Everything we've been doing is in line with our seed round and in prep of the private sale. Prior to the private sale, we will have our information made public.
Is everything moving as fast as I'd like it to, no. There's a lot that comes into play.
But we'll get there, I'm certain. There are people putting in their time and effort every day, for nothing in return. Anything less than trying my best to make it wouldn't be enough."
lel.. indeed I am.
Shutdown all chat and then just Go Dark No Updates Nothing .. after 4 years of bullshit and delays .. seriously ?
Cant even be bothered to give any kind of update ..
Cant even be bothered to give any kind of update ..
Don't fret, DJC73 is still here... lol
as is XBoomerY
Small update from Donovan: "What Charles said is right. Everything we've been doing is in line with our seed round and in prep of the private sale. Prior to the private sale, we will have our information made public.
Is everything moving as fast as I'd like it to, no. There's a lot that comes into play.
But we'll get there, I'm certain. There are people putting in their time and effort every day, for nothing in return. Anything less than trying my best to make it wouldn't be enough."
Very minor note from Charles yesterday: "There is no doubt that you would like to see an update. There are so many changes and builds that are still under NDA at the moment that with out a doubt would make make an excellent update. I wish I could just spill all, but I can not. We are putting in countless hours to release our restructured blockchain/cryptocurrency asset. We need a bit more of your patience. We are still here. We are still working. We are still very excited."
Any update ? is there any interest so far ?
SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON SOON
Is there any channel left for XBY community to talk or only here on bitcointalk ? i dont really see why it was needed to shutdown all communication channels.(telegram and Discord)
Only fudders are banned contrary to what Ganjafudder says.
There is only a community channel until the main ones are re-opened after the seed funding round is completed.
The discord/reddit was already already on read-only for everyone who disagreed or asked too many questions, lol half of the community is banned/muted over there.
They still trying to convince people they want to make it a sucess after 3 years of nothing, crazy
They still trying to convince people they want to make it a sucess after 3 years of nothing, crazy
I remember you telling me about this in the Discord about 2 years ago. Sorry that you haven't had any luck getting your money back.
Lol that's a nice pump of XFUEL, knowing the teammembers have been receiving tons of XFUEL in 3 years.
Well played, smart.
Well played, smart.
A recovery from 1 sat and its still lower than what it was some months previous.
Lol that's a nice pump of XFUEL, knowing the teammembers have been receiving tons of XFUEL in 3 years.
Well played, smart.
Well played, smart.
Donovan — Today at 3:19 AM
Hi @everyone
The past couple of months, our team has shown motivation and dedication towards learning and documenting our technology. As someone who studied the technology for years, I can tell you it isn’t an easy job. Our technologies rely on each other, the PoSign technology wouldn’t be achievable without the unique network structure, whereas our chain relies on PoSign for validation. They complement and strengthen each other.
All this hard work has led up to this moment, where we have our technology completely documented. We are very proud of these documents, containing infographics, text and beautiful artwork.
What has also been on the round table of the management team for a while now, is the ratio for the merger. We’ve gone over many possibilities with the team and our financial adviser. We’ve chosen to lock the ratio on 1:1 with our team and the community in mind. This means that XBY and XFUEL will both be swapped for the same amount of coins in the merger.
The percentage of coins reserved for the swap in the new chain hasn’t been locked, we’ll be going through investor rounds before locking the final coin economics.
The last item on the agenda, is our development plan. We’re currently working on this, after which the seed investor round is one of the next big things on the agenda.
Xtrabytes
Hi @everyone
The past couple of months, our team has shown motivation and dedication towards learning and documenting our technology. As someone who studied the technology for years, I can tell you it isn’t an easy job. Our technologies rely on each other, the PoSign technology wouldn’t be achievable without the unique network structure, whereas our chain relies on PoSign for validation. They complement and strengthen each other.
All this hard work has led up to this moment, where we have our technology completely documented. We are very proud of these documents, containing infographics, text and beautiful artwork.
What has also been on the round table of the management team for a while now, is the ratio for the merger. We’ve gone over many possibilities with the team and our financial adviser. We’ve chosen to lock the ratio on 1:1 with our team and the community in mind. This means that XBY and XFUEL will both be swapped for the same amount of coins in the merger.
The percentage of coins reserved for the swap in the new chain hasn’t been locked, we’ll be going through investor rounds before locking the final coin economics.
The last item on the agenda, is our development plan. We’re currently working on this, after which the seed investor round is one of the next big things on the agenda.
Xtrabytes
Hi @everyone
You’ll start seeing Github entries on what we call the experimental branch of our project. This side is a part of our new business plan. It’s a structure that’ll help Xtrabytes move forward on both the business and the development side.
You all know the protection of our technology has been a major focus. In the past couple of years, we’ve opted to use patents to protect us. This has proven to be very costly and time inefficient.
Our new business plan focuses on progress and delivery. We’re splitting the project into 2 sides, a community and a business branch. The community branch will focus on development, experimental technology and open source projects. It will enable our community and investors to see what we’re working on, and people to cooperate with Borzalom and our devs on different parts of technology. The business side of things will be closed source. This side is aimed at stability and will work with fixed employees.
These 2 sides of the company will enforce each other, bringing us continuity, protection, community engagement and much more.
As you know, we’ve been working our way through documenting our technology in order to be able to present ourselves to investors. We’re currently going through document 4 out of 4, our documentation team has been working hard to build these. We’re also actively working on our business plan. What we shared in this message is just a top level view of our structure. We will be sharing a more detailed post when the business plan has been finished.
The upcoming developments are in preparation for the coin merger. This is an important step for Xtrabytes.
We also have an upcoming third party review of our technology. As we’ll be finishing up on the documentation, we’ll also be looking at approaching investors for our seed investor round soon. We’re confident that our technology and new business plan will attract investors. The financial plan focuses on development at first, we want to build and finalize our technology so we can launch our network and show the world what we’re made of.
Our team is solid, our experience tells us what to do and our confidence will allow us to do it. In order to gain the most, you have to know how to convert the negatives into positives.
Our next announcement is planned for next week.
Talk soon!
Xtrabytes
From Donovan
You’ll start seeing Github entries on what we call the experimental branch of our project. This side is a part of our new business plan. It’s a structure that’ll help Xtrabytes move forward on both the business and the development side.
You all know the protection of our technology has been a major focus. In the past couple of years, we’ve opted to use patents to protect us. This has proven to be very costly and time inefficient.
Our new business plan focuses on progress and delivery. We’re splitting the project into 2 sides, a community and a business branch. The community branch will focus on development, experimental technology and open source projects. It will enable our community and investors to see what we’re working on, and people to cooperate with Borzalom and our devs on different parts of technology. The business side of things will be closed source. This side is aimed at stability and will work with fixed employees.
These 2 sides of the company will enforce each other, bringing us continuity, protection, community engagement and much more.
As you know, we’ve been working our way through documenting our technology in order to be able to present ourselves to investors. We’re currently going through document 4 out of 4, our documentation team has been working hard to build these. We’re also actively working on our business plan. What we shared in this message is just a top level view of our structure. We will be sharing a more detailed post when the business plan has been finished.
The upcoming developments are in preparation for the coin merger. This is an important step for Xtrabytes.
We also have an upcoming third party review of our technology. As we’ll be finishing up on the documentation, we’ll also be looking at approaching investors for our seed investor round soon. We’re confident that our technology and new business plan will attract investors. The financial plan focuses on development at first, we want to build and finalize our technology so we can launch our network and show the world what we’re made of.
Our team is solid, our experience tells us what to do and our confidence will allow us to do it. In order to gain the most, you have to know how to convert the negatives into positives.
Our next announcement is planned for next week.
Talk soon!
Xtrabytes
From Donovan
Very encouraging! Best of luck to you and the rest of the team.
Hi @everyone
You’ll start seeing Github entries on what we call the experimental branch of our project. This side is a part of our new business plan. It’s a structure that’ll help Xtrabytes move forward on both the business and the development side.
You all know the protection of our technology has been a major focus. In the past couple of years, we’ve opted to use patents to protect us. This has proven to be very costly and time inefficient.
Our new business plan focuses on progress and delivery. We’re splitting the project into 2 sides, a community and a business branch. The community branch will focus on development, experimental technology and open source projects. It will enable our community and investors to see what we’re working on, and people to cooperate with Borzalom and our devs on different parts of technology. The business side of things will be closed source. This side is aimed at stability and will work with fixed employees.
These 2 sides of the company will enforce each other, bringing us continuity, protection, community engagement and much more.
As you know, we’ve been working our way through documenting our technology in order to be able to present ourselves to investors. We’re currently going through document 4 out of 4, our documentation team has been working hard to build these. We’re also actively working on our business plan. What we shared in this message is just a top level view of our structure. We will be sharing a more detailed post when the business plan has been finished.
The upcoming developments are in preparation for the coin merger. This is an important step for Xtrabytes.
We also have an upcoming third party review of our technology. As we’ll be finishing up on the documentation, we’ll also be looking at approaching investors for our seed investor round soon. We’re confident that our technology and new business plan will attract investors. The financial plan focuses on development at first, we want to build and finalize our technology so we can launch our network and show the world what we’re made of.
Our team is solid, our experience tells us what to do and our confidence will allow us to do it. In order to gain the most, you have to know how to convert the negatives into positives.
Our next announcement is planned for next week.
Talk soon!
Xtrabytes
From Donovan
You’ll start seeing Github entries on what we call the experimental branch of our project. This side is a part of our new business plan. It’s a structure that’ll help Xtrabytes move forward on both the business and the development side.
You all know the protection of our technology has been a major focus. In the past couple of years, we’ve opted to use patents to protect us. This has proven to be very costly and time inefficient.
Our new business plan focuses on progress and delivery. We’re splitting the project into 2 sides, a community and a business branch. The community branch will focus on development, experimental technology and open source projects. It will enable our community and investors to see what we’re working on, and people to cooperate with Borzalom and our devs on different parts of technology. The business side of things will be closed source. This side is aimed at stability and will work with fixed employees.
These 2 sides of the company will enforce each other, bringing us continuity, protection, community engagement and much more.
As you know, we’ve been working our way through documenting our technology in order to be able to present ourselves to investors. We’re currently going through document 4 out of 4, our documentation team has been working hard to build these. We’re also actively working on our business plan. What we shared in this message is just a top level view of our structure. We will be sharing a more detailed post when the business plan has been finished.
The upcoming developments are in preparation for the coin merger. This is an important step for Xtrabytes.
We also have an upcoming third party review of our technology. As we’ll be finishing up on the documentation, we’ll also be looking at approaching investors for our seed investor round soon. We’re confident that our technology and new business plan will attract investors. The financial plan focuses on development at first, we want to build and finalize our technology so we can launch our network and show the world what we’re made of.
Our team is solid, our experience tells us what to do and our confidence will allow us to do it. In order to gain the most, you have to know how to convert the negatives into positives.
Our next announcement is planned for next week.
Talk soon!
Xtrabytes
From Donovan
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