meterse

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Copper MemberJr. MemberActivity: 226Merit: 8 6 reasons why future ICOs will use Byteball instead of Ethereum (+screenshots) August 21, 2018, 05:39:30 PM Merited by bones261 (2), jjacob (2), Wekkel (1) #1

1. No need to code and audit the smart contract.





With Ethereum developers need to first code the smart contract and then have it audited.



This process takes several weeks or longer. There is significant opportunity costs incurred, as developers are spending valuable time writing and auditing the ICO contract when they could be developing the actual product instead.



This problem does not exist in Byteball.



2. Launching an ICO on Byteball is far faster than Ethereum.





Due to all the manual steps required, launching an ICO on Ethereum can take 3-6 months (as many ICOs launched using Ethereum have shown).



With Byteball the process takes less than 1 week.







3. Launching an ICO on Byteball is far cheaper than Ethereum.





Again, due to the manual steps required on Ethereum, Byteball is a way more cost effective solution.







The costs listed here include both direct costs for things like programming and auditing, and indirect costs calculated based on the opportunity cost of having the ICO team work on the integration of the features list.



4. Unlike Ethereum, the Byteball wallet has integrated identity verification feature





Raising ICO funds without verifying the real world identity of investors is illegal in many countries like the USA. ICOs using Ethereum have to manually setup and run KYC checks, a slow and expensive process.



With Byteball, KYC checks are performed from within the wallet in minutes via the partnership with Jumio. Better still, users identity is stored privately in wallet, with only a hash of the personal data stored in the public DAG.







5. Unlike Ethereum, the Byteball wallet has integrated accredited investor features





An accredited investor is an investor with a special status under financial regulation laws. Most countries restrict access to risky investments and make them available only to accredited (qualified) investors.



For example, in the USA, you can sell unregistered securities under SEC Rule 506(c) if all investors are accredited.



Selling unregistered securities to normal investors in most countries is illegal. However there is no easy way for ICOs using Ethereum to prove investors are accredited.



Since April 2018 the Byteball wallet has inbuilt functionality with verifyinvestor.com, which means accredited investors can easily prove their status.







6. Much easier for investors to participate.





Obviously the easier it is for investors to participate in an ICO, the more likely it is to raise the funds needed.



Unlike Ethereum, the Byteball wallet is translated into 24 languages and has many inbuilt features which make is super easy for anyone to participate regardless of previous ICO investing experience



For example, each ICO has its own bot in the Byteball wallet bot store:







(In-wallet Bot Store, where ICO bots are listed)



To invest in the ICO, users simply buy using simple point and click. Users can even purchase the ICO tokens using their credit card:







In addition to in credit card payments, IBAN bank transfers are coming soon.



Unlike Ethereum there is no danger of users sending funds to the wrong address, through typos, as the address is pre-set.



Investing in ICOs through Byteball is also secure from phishing attacks as the buying is done in wallet.







(Example of how easy it is for investors to buy ICO tokens from the personalized ICO bot)





With Ethereum developers need to first code the smart contract and then have it audited.This process takes several weeks or longer. There is significant opportunity costs incurred, as developers are spending valuable time writing and auditing the ICO contract when they could be developing the actual product instead.This problem does not exist in Byteball.Due to all the manual steps required, launching an ICO on Ethereum can take 3-6 months (as many ICOs launched using Ethereum have shown).With Byteball the process takes less than 1 week.Again, due to the manual steps required on Ethereum, Byteball is a way more cost effective solution.The costs listed here include both direct costs for things like programming and auditing, and indirect costs calculated based on the opportunity cost of having the ICO team work on the integration of the features list.Raising ICO funds without verifying the real world identity of investors is illegal in many countries like the USA. ICOs using Ethereum have to manually setup and run KYC checks, a slow and expensive process.With Byteball, KYC checks are performed from within the wallet in minutes via the partnership with Jumio. Better still, users identity is stored privately in wallet, with only a hash of the personal data stored in the public DAG.An accredited investor is an investor with a special status under financial regulation laws. Most countries restrict access to risky investments and make them available only to accredited (qualified) investors.For example, in the USA, you can sell unregistered securities under SEC Rule 506(c) if all investors are accredited.Selling unregistered securities to normal investors in most countries is illegal. However there is no easy way for ICOs using Ethereum to prove investors are accredited.Since April 2018 the Byteball wallet has inbuilt functionality with verifyinvestor.com, which means accredited investors can easily prove their status. https://medium.com/byteball/attestation-of-accredited-investors-d4a8dabf683b Obviously the easier it is for investors to participate in an ICO, the more likely it is to raise the funds needed.Unlike Ethereum, the Byteball wallet is translated into 24 languages and has many inbuilt features which make is super easy for anyone to participate regardless of previous ICO investing experienceFor example, each ICO has its own bot in the Byteball wallet bot store:(In-wallet Bot Store, where ICO bots are listed)To invest in the ICO, users simply buy using simple point and click. Users can even purchase the ICO tokens using their credit card:In addition to in credit card payments, IBAN bank transfers are coming soon.Unlike Ethereum there is no danger of users sending funds to the wrong address, through typos, as the address is pre-set.Investing in ICOs through Byteball is also secure from phishing attacks as the buying is done in wallet.(Example of how easy it is for investors to buy ICO tokens from the personalized ICO bot)

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masterkiller



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Sr. MemberActivity: 642Merit: 253 Re: 6 reasons why future ICOs will use Byteball instead of Ethereum (+screenshots) August 21, 2018, 09:38:40 PM #5 maybe you are right with your assumptions, but maybe it's still far away, there are many other tokens that use the same system and programs that can rival Byteball, one of the strongest in this field is NEO, you can see a very significant NEO development , they tend to focus on accelerating development, so that their systems can continue to be refined. but all do not rule out the possibility. because nothing is impossible in this world

Punqtured



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NewbieActivity: 29Merit: 37 Re: 6 reasons why future ICOs will use Byteball instead of Ethereum (+screenshots) August 21, 2018, 10:05:23 PM #6 Quote from: masterkiller on August 21, 2018, 09:38:40 PM ... one of the strongest in this field is NEO



As far as I have seen, issuing a NEP5 token requires developers and a rather hefty downpayment of 500 GAS. That's doesn't seem like a very good alternative. Stellar would probably be a better alternative than NEO. However, neither NEO or Stellar would offer Byteball's built-in KYC features, accredited investor attestations allowing legally and fully compliant issuing of unregistered securities not to mention the built-in feature allowing investors to buy the token directly using Visa/Mastercard. All of these features is usually something the token issuer have to sort out on his own, and most is both incredibly time consuming and rather expensive too. With Byteball - that comes out of the box. For free! As far as I have seen, issuing a NEP5 token requires developers and a rather hefty downpayment of 500 GAS. That's doesn't seem like a very good alternative. Stellar would probably be a better alternative than NEO. However, neither NEO or Stellar would offer Byteball's built-in KYC features, accredited investor attestations allowing legally and fully compliant issuing of unregistered securities not to mention the built-in feature allowing investors to buy the token directly using Visa/Mastercard. All of these features is usually something the token issuer have to sort out on his own, and most is both incredibly time consuming and rather expensive too. With Byteball - that comes out of the box. For free!

jwinterm



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LegendaryActivity: 2422Merit: 1070 Re: 6 reasons why future ICOs will use Byteball instead of Ethereum (+screenshots) August 24, 2018, 02:21:34 AM #13 Quote Volume (24h)

$123,549 USD

18.96 BTC

You can't do an ICO on a coin with no volume. The figure above represents volume across all exchanges over the last 24 hours. What if someone has a fairly successful ICO and raises $10M worth of GBYTE (20% of marketcap, btw). Even if they sold the entire volume quoted above it would take 100 days to divest from all the GBYTE to get working capital, and they would probably push the price down in the process. $10M isn't even that much for a lot of ICOs, and what if there were several successful ICOs. Not to mention that they would now be competing with the Byteball foundation which is presumably selling GBYTE from the premine to cover their costs and salaries. The daily trading volume and marketcap simply couldn't support a single fairly successful ICO at this point, let alone multiple. Whatever time you think you could save with respect to the chart in OP, you would spend probably at least that much just trying to sell GBYTE in completely illiquid market without destroying the price. You can't do an ICO on a coin with no volume. The figure above represents volume across all exchanges over the last 24 hours. What if someone has a fairly successful ICO and raises $10M worth of GBYTE (20% of marketcap, btw). Even if they sold the entire volume quoted above it would take 100 days to divest from all the GBYTE to get working capital, and they would probably push the price down in the process. $10M isn't even that much for a lot of ICOs, and what if there were several successful ICOs. Not to mention that they would now be competing with the Byteball foundation which is presumably selling GBYTE from the premine to cover their costs and salaries. The daily trading volume and marketcap simply couldn't support a single fairly successful ICO at this point, let alone multiple. Whatever time you think you could save with respect to the chart in OP, you would spend probably at least that much just trying to sell GBYTE in completely illiquid market without destroying the price.

whenearth



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NewbieActivity: 55Merit: 0 Re: 6 reasons why future ICOs will use Byteball instead of Ethereum (+screenshots) August 24, 2018, 05:17:23 AM #15 Quote from: jwinterm on August 24, 2018, 02:21:34 AM Quote Volume (24h)

$123,549 USD

18.96 BTC

You can't do an ICO on a coin with no volume. The figure above represents volume across all exchanges over the last 24 hours. What if someone has a fairly successful ICO and raises $10M worth of GBYTE (20% of marketcap, btw). Even if they sold the entire volume quoted above it would take 100 days to divest from all the GBYTE to get working capital, and they would probably push the price down in the process. $10M isn't even that much for a lot of ICOs, and what if there were several successful ICOs. Not to mention that they would now be competing with the Byteball foundation which is presumably selling GBYTE from the premine to cover their costs and salaries. The daily trading volume and marketcap simply couldn't support a single fairly successful ICO at this point, let alone multiple. Whatever time you think you could save with respect to the chart in OP, you would spend probably at least that much just trying to sell GBYTE in completely illiquid market without destroying the price.

You can't do an ICO on a coin with no volume. The figure above represents volume across all exchanges over the last 24 hours. What if someone has a fairly successful ICO and raises $10M worth of GBYTE (20% of marketcap, btw). Even if they sold the entire volume quoted above it would take 100 days to divest from all the GBYTE to get working capital, and they would probably push the price down in the process. $10M isn't even that much for a lot of ICOs, and what if there were several successful ICOs. Not to mention that they would now be competing with the Byteball foundation which is presumably selling GBYTE from the premine to cover their costs and salaries. The daily trading volume and marketcap simply couldn't support a single fairly successful ICO at this point, let alone multiple. Whatever time you think you could save with respect to the chart in OP, you would spend probably at least that much just trying to sell GBYTE in completely illiquid market without destroying the price.

Poor FUD, makes no sense.



If X rises to Y and Y decreases to X by the increase its back at Y



Byteball is like the Ethereum of DAG, but actually a lot more practical. Not hard to see Poor FUD, makes no sense.If X rises to Y and Y decreases to X by the increase its back at YByteball is like the Ethereum of DAG, but actually a lot more practical. Not hard to see