https://ift.tt/2FjAlgg a number of weeks in development, Xtrabytes is now available on Waves Dex. Not only can you purchase XBY - you can purchase XFuel as well. XFuel is the token that powers their nonexistent blockchain. They created XFuel out of thin air (yes, I know technically all coins are made out of thin air), but it has no utility and is currently completely worthless. XFuel is disbursed to team members as payment, with Borz and CCR rumored (Said by Alan/Ashley in a Discord chat) to be getting 1 million coins each per month, that they allotted to themselves. Before now, you could only purchase XFuel thru the Xtrabytes Discord and an escrow service, which is the exact same process, but they wanted it to look more official. The distribution of XFuel is extremely uneven, as team members hold hundreds of thousands, even millions, of it, where as it has not been easily available to the public. Here they explain XFuel distribution. ‘...they [XFuel] are either bought from a developer or earned by a developer.‘ The article was linked in a comment by u/alex777tm, an XBY team member in this comment where he states that XFuel is an ‘internal community token only.’This is where the ‘coverage wallets’ come into play.Xtrabytes has taken the ‘Dex’ out of the Waves Dex in favor of centralization. The coins from all purchases made on Waves come from a centralized and controlled wallet that is controlled by Xtrabytes. They have deemed these wallets coverage wallets. In reality, these wallets belong to Borz, CCR (‘Dave’ or ‘Samuel’), and team members. This way allows them to finally dump their own coins onto the public, which they had been unable to do because of the Cryptopia shut down. It also allows them to dump all the XFuel they have accumulated, which they had not been able to do previously. Previously, you could only purchase XFuel with XBY. They would then turn around and sell for BTC on Cryptopia, while the person receiving XFuel could not sell it and would be holding a worthless coin, unless they were able to trade it for XBY to another community member. On the Waves platform, both coins are paired with BTC, ETH, LTC, and WAVES. So they are able to sell you their worthless coins in exchange for coins with actual value that they can turn around and sell for fiat.Aside from these points, Xtrabytes own DEx, XChange, was supposed to be nearly finished, per their own updates. Them listing on Waves proves that this is not the case. The time spent on developing Waves (which can be done very easily, had they not chose to centralize their client), could have been spent on XChange development. They chose to put both XChange and Xcite, their mobile wallet that was due out 2/10/2019 on the back burner in favor of developing Waves. This decision ensures they do not have to release either of those and gives them an excuse (in their own eyes) as to why the products are not released. It also keeps the lie going that they’re developing something and it’s just around the corner, as it always is for Xtrabytes, but never gets released. Dave has been giving patent updates with no real updates and no real real substance to them. The patent applications were supposed to be submitted by end of February/early March. We’re now at the end of March and they haven’t been submitted. That was just the most recent timetable, patent-pending status was initially said to be granted EOY17, Q1FY18, then mid-2018, then EOY18. Keep in mind, ‘Dave’ ran an MLM and part of his ‘marketing plan’ was to use patents in order to gain customers, sales, and credibility.I honestly would love to hear the team from Waves side of this story, though I know that’s unlikely.DO NOT BE FOOLED BY XTRABYTES AND INTO BUYING THE TEAMS COINS VIA WAVES! THIS WAS YET ANOTHER MOVE BY THE TEAM TO DUMP THEIR WORTHLESS COINS ON UNSUSPECTING BUYERS!!
Submitted March 25, 2019 at 04:32AM
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