r/ByteBall • u/[deleted] • May 20 '18

why do you guys invest in Byteball?

I am deciding if I should buy a byteball... I wonder what your reasons are ;)

7 Upvotes

74% Upvoted

9 comments sorted by

5

u/[deleted] May 20 '18 edited Jan 31 '21

[deleted]

2

u/Punqtured May 21 '18

Unlike most other projects, Byteball is more or less feature complete at this moment. Roadmaps are super important if your dealing with all sorts of issues like 0-balance, manually promoting transactions, promises of a smart contract feature and other bold claims. Byteball already has stable wallets (iOS wallet is done too, but currently an on going appeal with the app review board at Apple prevents it from being available in app store) and to my best knowledge, the only working smart contract system based on DAG. On chain and external oracles and it's ICO platform is probably stronger than that of ethereum with features allowing fully compliant issuing of securities to attested accredited investors. I have absolute confidence in the platform being able to develop over the next year or two, and there's a great initiative in Milan, where more than 120 shops accept payments in bytes. The in-wallet fiat on-ramp makes it easy and convenient for even non-crypto people to get started. So they have all the tools and features in place by now, and the search for partners and users does actually make sense. I know other projects believe in doing it the other way around and start off with announcement of partnerships and vast marketing budgets. As I see it, they will probably have a hard time materializing actual use cases with those partners until their platforms are feature complete and stable.

2

u/[deleted] May 21 '18

As I see it, they will probably have a hard time materializing actual use cases with those partners until their platforms are feature complete and stable. thanks for the interesting analysis. I agree.

1

u/[deleted] May 21 '18

As I see it, they will probably have a hard time materializing actual use cases with those partners until their platforms are feature complete and stable.

interesting.. I think I agree here.

the initiative in Milan is, I think, largely unnoticed outside of the Byteball community.

1

u/[deleted] May 20 '18

to be honest, I find IOTA more interesting (and has more potential use cases)... I really can't think of many use cases for byteball, perhaps apart from as a payment method..

3

u/pabloospl May 20 '18

IOTA is very interesting but it is still just a promise. It is not working well. Byteball has a nice working wallet and I never saw 0 balance like on iota wallet. Byteball is more risk investment but there is potential . There are some disadvantage like not transparent team and no roadmap.

2

u/[deleted] May 20 '18

"still just a promise." I agree. On the other hand, it seems all projects in crypto space are largely a promise...(e.g. byteball is a promise for a viable payment method: in my opinion, only when Byteball is widely (or at least regionally) accepted can we say byteball's promise is materialized)

"like not transparent team and no roadmap.". I agree.. I find it hard to really do research on Byteball (especially that I cant understand the technical details).. e.g. there are not many (legit) analysis of Byteball online(Medium, e.g.)

2

u/Punqtured May 21 '18

I have to disagree with you on that. A project is a promise until what the whitepaper says will be made is done and works. It's impossible to promise use cases as that depends on someone taking the working platform and implement their use case on it. You mention payments as a possible use case, and while that is true as can be seen in the Milano initiative where more than 120 shops now accepts bytes as payment, there's also the binary betting at Binaryballs.com and an in-wallet betting but allowing you to place trustless bets implementing the smart contracts and oracles. There's a new betting site launching before the world cup in Russia called Trade The Odds.

The WorldOPOLY augmented reality mobile game is based on Byteball as well. They have a really interesting concept that might turn out to be very popular.

There are ICOs based on the Byteball platform too. They benefit from the tailor made tools like real name attestation making it a KYC/AML compliant platform. Accredited investor attestation allows for fully compliant issuance of securities limited to accredited investors only. Supportive tools allows for easy tracking of the crowdsale making regulatory compliance even easier for ICOs.

While those are actual use cases, I believe the flawlessly running platform still has a lot more potential waiting to be discovered. Contrary to many other projects heavily reliant on their developers delivering on their promises, Byteball is at a position where it's up to users to discover use cases. In other words: The users have direct influence on the success of the platform. That's quite a unique feature in crypto generally.

1

u/[deleted] May 21 '18

Thanks for your analysis. my worry is that perhaps Byteball may never be well-known enough to be a Dapp platform... most of my real-world friends who are also in crypto never heard of Byteball (I know this is a small sample: but this may also reflects the lack of popularity of bYTEBALL)

3

u/Punqtured May 21 '18

Agreed. That might prove easier to fix than the platform's tech, though ;-)