Byteball: It's Free Money!!

in #byteball4 years ago (edited)

Screen Shot 2017-06-11 at 14.57.45.png

Rather than spending my time giving you an investment case for Byteball, I’m going to tell you how to get them for free.

The world of Crypto is crazy, and nothing illustrates that more than Byteball, who’s Fair Initial Distribution entails them giving away 98% of their cryptocurrency, for free.

Fair Initial Distribution

98% of all bytes and blackbytes will be distributed to current Bitcoin holders who bother to prove their Bitcoin balances during at least one of distribution rounds. No investment is required, you need just to link your Bitcoin and Byteball addresses by making a small BTC payment or by signing a message with your Bitcoin address. Then the number of bytes and blackbytes you receive in each round will be proportional to the balance of your Bitcoin address in the snapshot block of that round. In the first round, over 70,000 BTC was linked, and we distributed 10% of all bytes and blackbytes according to linked Bitcoin balances in the first Bitcoin block timestamped Dec 25, 2016 (Christmas block). In the 2nd to 6th rounds, we distributed another 15.5%, over 450,000 BTC was linked. In the 7th round, which is scheduled for the full moon of July (July 9, 2017 at 04:07 UTC), we'll distribute 62.5 MB for each 1 BTC of linked balance and 0.2 new byte for each 1 byte you already hold. To participate, install the wallet and chat with the Transition Bot that will help you link your Bitcoin and Byteball addresses. Track linking progress at transition.byteball.org. Byteball Website

This results in Bitcoin Holders earning ~$45 worth of Byteball (at current prices), per Bitcoin they link to their Byteball Address. And this happens every month, until 98% of Byteball has been distributed. Currently ~25% of Byteball has been distributed over the first 6 months, so we have sometime before this distribution process ends, and quite a few months to benefit from this process.

What do you need to do?
All you need to do is go to the Byteball Website, download the Byteball Wallet, then after installation, go back to the Byteball Website and click ’Chat with the Transition Bot’, then follow the instructions. They have a very active Slack Community who can help with any problems you may encounter.

The next Distribution Date has not been announced, however they have been doing a distribution each month since December last year, so I am expecting it to take place early next month. This being said, there is no harm getting ahead of the game, linking you Bitcoin Address's to your Byteball Wallet, and waiting ~4 weeks for the next distribution to take place. There are additional benefits for holders of Byte’s, who receive a 20% Bonus/Interest (on Byte held at the time of a Distribution) in the form of Additional Byte’s. That is a very healthy monthly interest rate, however the price of Byte's takes a predictable hit after each distribution, and naturally recovers leading up to a distribution.

Byteball's main use case is Conditional Payments, where they aim to solve the counterpart risks attributed to P2P transactions, like Insurance and Betting... This is all wrapped up in a nice Chat Bot UI experience

It is worth mentioning that, Byteball has a really seamless user interface, and has many interesting applications and use cases. My experience over the past few months has far exceeded any expectations I had when I was reminded by @wingz to link my Bitcoin Address, a few months ago. If your believe success is measured in Market Cap in Cryptocurrency, then Byteball are doing very nicely, with their Market Cap around $190m, which put them as the 30th largest cryptocurrency.

You will not be able to participate in this process if you hold your Bitcoin at an exchange, or in a wallet where you do not own the Private Keys.

Free Money really does exist, you just need to know where to look for it…

Sort:  

Great, thank you

Is this going to be Siacoin competitor? They already managed to somewhat establish themselves on the market, yet to be seen if they will pass the mainstream test as a storage blockchain.

No, not as far as I am aware. Byteball main USP is Conditional Payment. This allows them to provide a solution for P2P Insurance, Betting, and more... where there is clear counterpart risk in the conventional economy

I've added in, what i believe to be a good description of Byteball in Bold Above...

Yes, thank you. Checked their website and downloaded wallet. They are going stellar lumens giveaway style it seems. Will do more research on this project, sounds promising.

Exactly. Stellar Lumens giveaway I believe is around the 27th of this month. Bitcoin drop similar to Byteball

Cool will try.

Byteball could really propel forward as a day-2-day business payment method. Its very polished with all its features.

Certainly agree it has potential. And also agree with your Very Polished comment. It has a product which works, which is more than you can say about many other crypto projects.

Great, thank you. I will for sure participate to the next distribution. Thank you for all your posts, they are all very interesting.

Coin Marketplace

STEEM 0.38
TRX 0.06
JST 0.041
BTC 33872.36
ETH 2141.20
USDT 1.00
SBD 6.16