How to trade ByteBall (GBYTE)
In a follow up to my previous blog post "Get Yourself Some ByteBall (GBYTE) A.K.A Free Money!!!" I wanted show how you can increase your earnings with this coin whether your in it for the short or long haul.
Since the next distribution is just around the corner here are some interesting observations that I noticed.
Don't buy GBYTE right before a distribution
Given that this coin is fairly new and only 526,327 GBYTE of 1,000,000 have been distributed the selling pressure after the airdrop can shed $100 dollars fairly quick.
However right before an airdrop the price of GBYTE seems to rise. It was up over 47% recently
The market might be factoring in the price but i think it will follow the same pattern.
Wait until the price drops to buy for the next distribution
If you not already in I would wait until the dust settles. As for me I'm going long and will wait until all of GBYTE has been distributed until I sell.
Trade your blackbytes
ByteBall also has another currency called BlackBytes that are more privacy focused. Right now you can trade them in wallet for GBYTE using a trustless exchange where trades are made with smart contracts. Check this reddit post for more info.
https://www.reddit.com/r/ByteBall/comments/6rm27u/announcing_trusless_blackbyte_exchange_fully
The ratio right now is about 1 BlackByte to .1 GBYTE. (about $43) but when trading started it was closer to 1 BlackByte to .02 Gbyte (about $6) If you can get them for cheaper I suggest you do so because this secondary coin has huge potential if it starts getting traded on a major exchange.
Coin Supply vs Price
- The coin supply is only 2.1111 more than ByteBall but the OTC prices right now are 10 to 1. So the total supply is 2.1 million but only about 1 million has been distributed so far.
- If you look at other privacy focused crypto's their current prices are a lot higher and they have more coin supply.
Zcash is a good price reference to see how much blackbytes could be worth once they are traded on an exchange.
Conclusion
Please perform your own Due Diligence and don't rely solely on this post for advice. Only trade what you can afford to lose as crypto is very volatile and this coin is no exception. However if you link your BTC to your ByteBall address then you are not risking anything!!! If you made it this far thank for reading!!!
get your steemit merchandise and try out CryptoPing
Completely forgot about this one
Tisk tisk. Better hop on it!!!
Got some Byteball from early airdrops, but never took time to really look at the price movements before and after an airdrop..
Good to know!
Also for Blackbytes, you're right, great potential. Will look at it closer.
You can start trading the blackbytes now. They are at $43 over the counter. I got luck and got some at $6 😁. I think $100 is possible even before they hit an exchange. I think given the nature of them it's hard to get them on a proper exchange that the moment. But when they do i's game over!!!
Very useful post. Thanks for sharing
You are very welcome!!!
This system without any blocks reminds me the IOTA with the tangle :-)
Cool info !
Your welcome!!! Get yourself some byteball!!!
Thanks for sharing about it very helpful :) but my pc didn't support the software they had for wallet :(
If you have an Android phone you can get it from here
https://play.google.com/store/apps/details?id=org.byteball.wallet
Thanks for this :) trying it out and would like to ask will i be eligible to receive free coins that they give to their users ??
Yes you will need to link your BTC address to your byteball address via the transition bot in the wallet. Once you link with the transition bot you will be able to get GBYTE from your linked BTC address and whatever you balance is. It's a snowball effect.
So for every 10 GBYTE you own you get 1GBYTE and 2.11 BlackBytes
For every 16 BTC you own you get 1 GBYTE. That is the ratio and if you own less you get the proportion. (i.e .1 GBYTE will get you .01 GBYTE during the transition )
byteball = easy money for holders if you put in the work to sign the transaction
Yea and it's not really work. It's a pretty simple process with the transaction bot.
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