Topic: 🔥Obyte Cash - Fork of Obyte - 70% Airdrop! - Instant Transactions - 0 Fees 🔥 (Read 850 times)

Obyte as it is has a limited following and hardly ever gets any coverage.

I don't understand what kind of support and enthusiasm you expected. Or rather what that enthusiasm and support would look like.

If an airdrop fork did not get enough of that, how on earth do you expect an IEO to do any better? Who will buy into a fork of a coin that was mostly airdropped and still failed despite having serious work on the tech side of things?

You might say the opposite, but I have no doubt. This is the end.

Important Update:

Looking at the current situation and lack of enthusiasm from the Obyte community, we have decided that releasing the fork as it currently is, is not the best option. It is an unfortunate development but as mentioned several times before, we needed the support of the community in order for this to be successful. Although it is a setback, we assure you it is not the end. We are now considering a few options, including doing an IEO as it seems that securing funding is more important than anticipated if we have to be competitive in crypto. Also, there might or might not be an airdrop for Obyte holders when we re-release our project. Thanks to everyone who supported this initiative and agreed with our ideology regarding the current state of Obyte. We sincerely hope, you will also understand and support us in this decision. Thanks again!

No issues, added it on the website too.

Ok, thanks. Couldn't find it on official website. Will check carefully later.

"Sorry, I am not familiar with what Richard Heart had to say. Could you post a link to his tweet or where there are more details?

PS: Richard Heart was one of the believers of Byteball, have you tried to inform him about this fork? Obyte and Obyte Cash could both get a lot of attention if he tweets about it."

Richard Heart comes up in a few weeks with his HEX coin which in fact is a Bitcoin clone, the project he started about a year ago. He (very much like you) was greatly disappointed by the bitcoin price decline, unreasonable bitcoin forks and many other bad things about bitcoin. You can hear his reasoning at  https://www.youtube.com/watch?v=9d0iz0qxQ3k. His project's web page can give you more detail  https://hex.win.
He has posted numerous debates with crypto personalities about his coin on his youtube channel.
He has indeed favourably mentioned Byteball a couple of times in his videos, but to be honest, he has also mentioned weak points of Byteball. There's no point in trying to get to him right now as he's so obsessed with his coin that he just won't listen to anybody. However, his assurance in the inevitable success of his coin has shaken a little bit lately because of the bitcoin's gains, still he is the wrong man to talk about both Obyte and Obyte cash. I would rather suggest that you contact Stefan Molyneux and try to talk to him about the DAG blockchain.

My personal aspiration is to change the present day economy model into a free economy. Many coins suit for this change, but it is not the coin alone that is required. Almost all coin teams that I'm familiar with do not see the forest behind the trees. Some want the money now, some are blinded by misconceptions, some just lack fundamentals, vocational experience and common sense. It is the team with the right vision that stands much of a chance to dash its coin forward, not the bitcoin (or Obyte, or Obyte cash, or Ripple, or Monero, or any other wonder coin) itself.
Don't you find it ridiculous that all coin teams appeal to one and the same tech savvy community (today's crypto market cap is almost all that can be derived from it), while there are hordes of common people waiting to enter the new economy if only they knew how, were sure about all ins and outs, were not afraid to fall victim of a hack, felt secure and protected? Instead, the teams generally concentrate on techies, who are on terms only with virtual economy - trading on an exchange, gaming, betting, sex toys from the dark net.

"They would not listen,
They are not listening still,
Perhaps they never will..."
"Vincent" by Don McLean.

My take on what should be done step by step to improve the situation with a coin in order to set it into circulation exceeds the frames of a post, it is not an arcana, but just a multi-faucet concept and it will take hours to read.

you are our last hope

All true. And that is the reason we have created this fork. It might be too little too late but its an attempt nonetheless and we will give it our 100%. We will make "Obyte Cash great again"   Just need the remaining community to support it!

did you check obyte thread, reddit, twitter? No one interested in this coin anymore
obit lost 98% of value in bitcoin. Literally one of the worst performer. Thanks to the developers who have asked to sell all their coins to anyone who did not like something in obyte. It was a great marketing move. Indeed, the community followed this advice and dumped the coins until all liquidity was exhausted. Now this is just illiquid shit.

This is a fork of Obyte and you could refer to the Obyte whitepaper for more information here: https://obyte.org/Byteball.pdf

The problem you are pointing out is a problem (or some may say advantage) of crypto as a whole. Most people buy any coin, from BTC to GByte, just as an investment and not to use it for anything. Most cryptocurrencies don't have any real advantage over BTC or cash and hence this problem intensifies even more with altcoins like Obyte Cash. One solution is to develop and improve something so much that people see significant advantage in using it and that would develop an economy around that coin. Some coins like Monero and Ethereum have done this. With Obyte Cash's features we could attempt at doing the same. Its a long term plan though and will take time and patience.

Yes, to be very honest we too are a bit disappointed and surprised by the low level of community participation and enthusiasm for this fork. Almost everyone was disappointed with the way things were going with Obyte but not a lot of people want to put in some time and effort when there is an opportunity for something better. Tell me, what else do you think can be improved? If its something that can be done and will help Obyte Cash, it will be done.

Sorry, I am not familiar with what Richard Heart had to say. Could you post a link to his tweet or where there are more details?

PS: Richard Heart was one of the believers of Byteball, have you tried to inform him about this fork? Obyte and Obyte Cash could both get a lot of attention if he tweets about it.

Does this project have a whitepaper? Or even one-pager. I cant find it on the website.

"Altcoins like OByte Cash can be used for specialized purposes like smart contracts, private payments, etc. And once we are established in these niches, only then can we target becoming a day to day currency."

I indeed ask myself this - why should people use smart contracts and private payments? Only for the fun of sending coins? Give me a reason for them to do so please. How you get a notion that you are established enough in these niches? Didn't it occur to you that even if you distribute almost all coins and thus provide for 'noticeable" liquidity, the people still wouldn't tend to spend their "dear" money in the bull market situation. Who will want to spend coins today when it is going to double in price in a week? And your economy around OBC doesn't catch up again. So in the end we have just another altcoin in the long list of coins on the crypto exchange.

With all these positive improvements accompanying OBC distribution, aren't you alarmed that you've got only 37 members on Telegram and not a single post? Aren't you alarmed that there's no one except me indulging in discussion about OBC in this thread? Don't you think there must be something more to the coin than just improved distribution model?

Adam Smith, Kark Marx, Silvio Gesell, Pierre-Joseph Proudhon and etc. - these are great names of the past. But are you aware there are American, Austrian, Swedish, Russian, Chinese schools of economics to name a few? Do you really believe in Richard Heart's recent concept that a mere introduction of a fixed cap altcoin with programmed price settings can create a store of value? Smart people can deduct what Richard Heart is after with his clever scheme. Do you?

@shrem, ofcourse we want OBC to be used for trading and as a currency for day to day purchases. But before we are able to achieve this, we need OBC to be a top crypto that can be easily traded across exchanges and has liquidity. Without that, it will be difficult to convince anyone (other than holders) to trade in OBC. Ask yourself this, why would any vendor on the street accept a crypto (GByte for example) which has negligible liquidity and is extremely difficult to convert to local cash? Also, don't forget that there exists BTC which is in a way better position to be used as cash. Altcoins like OByte Cash can be used for specialized purposes like smart contracts, private payments, etc. And once we are established in these niches, only then can we target becoming a day to day currency.

So yes, the long term goal does include having an economy around OBC and people using OBC for day to day transactions but that is something impossible to achieve in the immediate future and before creating a solid base in the niches described above.

Looking beyond distribution, what are you going to do to make Obyte cash more than just another trading instrument? Or making another instrument (only better) is what is your ambition?

I guess you do not seem to understand my meaning. My question was not about distribution. I asked if you are interested to facilitate use cases, to make the Obyte cash means of payment. The Byteball team had a plan to start trade among the community by giving up to 20% cashback to customers who made payment in Bytes. In the first place it was designed to help distribution. If done right, this could initiate trade between the community members, create an in-house type of economy and lead to real use cases growth. Which in turn would bring more users, let the Obyte economy expand and, of course,  impact the rate.
You would agree that trading a currency exclusively on various exchanges (which is almost all we can do with crypto at this moment) is not what most of us expect from the root of the new economy, wouldn't you?
So I think you should think of the way you'd sponsor real life use cases and agree with me that the trade with Bytes as the means of payment is the best and most convincing use case of the cryptocurrency. And the easiest to implement.

We do not have any control over what the exchange does and so we would strongly recommend to keep all your GBytes in your own wallet (the wallet whose private keys you control) at the snapshot time. This will guarantee that you receive the airdrop.

That's up to the exchange. Better not risk it. Obyte has a very easy to use light wallet. Just withdraw everything there the day before.

Yes that's right. A new wallet will be released for Obyte Cash.

That is similar to a current Obyte distribution method and although it sounds good on paper, like most other distribution methods, its open for abuse in practicality. Hence, we do plan to have such a method for now.

Will I get Obyte Cash if I keep my Obyte in the exchange?

What about the wallet? Is there going to be a new one?

Are you also going to incentivize trade? Like 10-20% cashback if the item is paid for in Obyte Cash?

i think someone already buying with 15 btc wall, never see that on byteball
going to pump after whale accumulate for cheap

So I think it's a good chance to buy some GByte?
People want Obyte need to hold Gbyte, the price will raise soon!

Update 1: We have some major good news for the community. We have successfully struck a deal with 3 exchanges that have agreed to list Obyte Cash on launch. As per the terms of the agreement we cannot disclose their names before listing though. But just to give a little more information, 2 of them are pretty small and 1 is a very old and reputed exchange with more than USD 100 million real daily volume (not wash traded volume)

Important Update:

Looking at the current situation and lack of enthusiasm from the Obyte community, we have decided that releasing the fork as it currently is, is not the best option. It is an unfortunate development but as mentioned several times before, we needed the support of the community in order for this to be successful. Although it is a setback, we assure you it is not the end. We are now considering a few options, including doing an IEO as it seems that securing funding is more important than anticipated if we have to be competitive in crypto. Also, there might or might not be an airdrop for Obyte holders when we re-release our project. Thanks to everyone who supported this initiative and agreed with our ideology regarding the current state of Obyte. We sincerely hope, you will also understand and support us in this decision. Thanks again!



Had to create a new thread as the old one was deleted by forum moderators and that account was also banned. We are not given any warning about anything or any reason at all!

Reason for Forking

Like a lot of Obyte investors and users, we were not happy with the way the things have been moving recently. The new distribution methods are not ideal and are being gamed and manipulated by dishonest people. Community feedback is being ignored and we don't see anything changing in the near future. Hence, we decided to fork Obyte and make it into something that the community really wants. Another reason that brought us to this decision is the declining number of people involved in Obyte. Long time supporters are getting frustrated with the project and waiting for a chance to dump their bags and move on. We truly believe that Obyte is one of the better projects out there and has great potential to perform much better under a different leadership and approach.

Major Changes from Obyte

Below are the changes, that as per Obyte community feedback across various platforms, needed to be done:

1. The biggest change will be how Obyte Cash will be distributed to the community. We will be rewarding current GByte holders and airdropping a massive 70% of the supply to GByte holders.

2. We will also be excluding known addresses of ICOs and exchanges from the airdrop as that seemed like a complete waste of resources. These funds will also be airdropped to real GByte holders.

3. There will be no airdrop for Bitcoin holders. This is because they just dump the free coins they receive and hardly contribute anything to the project.

4. More focus will be on marketing and advertising. We already have a pretty well made and a finished product. Creating a few bots will not help us grow now. Hence, we will spend more time and efforts in marketing Obyte Cash, getting meaningful partnerships and in turn increasing visibility and popularity.

5. On the technical side, we will be introducing instant transactions and 0 fee transactions.


Technical Specifications

Total Supply: 10,000,000
OBC Airdrop: 7,000,000 OBC (70% - 10 OBC for every GByte)
Future Distribution: 2,500,000 OBC (25%)
Marketing Fund: 400,000 OBC (4%)
Team: 100,000 OBC (1%)


Airdrop Details

1. 70% of the supply to be distributed proportionately to GByte holders on launch.

2. For every 1 GByte that you hold, you will get 10 OBC.

3. Anybody holding more than 500 GByte gets a 10% bonus.

4. No airdrop for BTC holders. We will reward only real users.

5. GByte currently held on known addresses of ICOs and exchanges will not be a part of the airdrop. These GByte will be redistributed to the community.

6. Snapshot will be on June 10, 2019 at 1PM UTC. Coins will be airdropped on June 17, 2019.


How to Claim the Airdrop

1. All you have to do is hold GByte in your wallet on June 10, 2019 at 1PM UTC to be eligible for the airdrop. No need to attest and provide private, sensitive and confidential passport details. No need to like us or spam Twitter to claim the airdrop. That is not how crypto was meant to work.


What you can do

We are not doing any ICO and are not making money out of this project. This is just a work of passion and is being paid for with (till now) personal money. If Obyte Cash has to be successful, we will need major contributions from the community. You could:

1. Talk about this project and the airdrop to GByte holders in crypto groups.
2. Tweet about us, share us on Facebook – Get the word out.
3. If you are a developer, contact us – We could always use your skills.
4. Contact crypto news sites and youtube/twitter influencers. Tell them to post about Obyte Cash and the massive 70% airdrop.
5. Get this airdrop listed on airdrop alert websites.
6. Create bitcointalk signatures for Obyte Cash and flaunt them when you post here.
7. Let GByte holders know about this airdrop by posting on their Telegram, Discord and Reddit.


What we will do
1. Try and get Obyte Cash listed on major exchanges (Long time community request)
2. Strong and aggressive marketing
3. Continued development - Any new feature added to Obyte and that is liked and appreciated by the community will be added to Obyte Cash. We will also try and develop new features. Instant and 0 fee transactions will be available from the launch day.
4. The project is open source and Github links will be available for the community to inspect and verify before launch. We will never ask for your private keys.


Website: www.obytecash.org

Telegram: https://t.me/joinchat/NKSLNxb9u9F1IrQipKxMTg