Questions from the Xtrabytes Slack community:
1 – Some members have questions and concerns regarding the economics of adding the XFUEL token … in a simple way, how does this all work?
Borz: We will create different tasks. Each task is simple and short. Not longer than 1-2 hour of work or permanent service. After the task is done then the worker/helper/supporter/service provider/contributor gets XFUEL income. The XFUEL is tradable via XBY so its possible to buy/sell. If someone collects more XFUEL than possible to partially replace the XBY deposit to XFUEL. The XFUEL deposit helps to we get more STaTiC-s without removing more XBY from circulating supply.
The goal of XFUEL to help the XBY development and build the different developer teams. The successed tasks help growing the XBY. After more task successed then XBY will be more valuable.
CCR: We will create different tasks for helpers and developers in our community. These will be simple and easy tasks, not longer than 1 or 2 hours and there will be permanent positions also. After the task is done, the worker/helper/supporter/service provider/contributor will receive XFUEL as payment. XFUEL is tradable for XBY, therefore it is possible to buy/sell. If someone collects enough XFUEL, it is possible to partially replace part of the XBY STATIC deposit with XFUEL. The XFUEL deposit helps to expand our STATIC network without reducing the XBY supply to an unhealthy circulating supply.
The goal of XFUEL is to help XBY development and build the various developer teams. The successful (completed) tasks help to grow XBY overall. After many tasks are completed, XBY valuable increases.
2 – I watched the XFUEL video clip just now. Its a second ‘coin’ running on the XTRABYTES chain, is that right?
Borz: XFUEL is not ‘coin’. This is expansion of XBY and part of the system. At this moment XFUEL work in different chain but the goal to merge the all system components. XFUEL is the first clean STaTiC+PoSign “coin/token” and there are two goals:
1.) beta testing the PoSign algo
2.) finance the developments of XBY. Very important therefore i say again. XFUEL is not independent coin. XFUEL is the part of the XBY system. No coin swap. I continue to develope the XBY system.
CCR: XFUEL is not a ‘coin’, it is an expansion of XBY and part of the system. At this moment, XFUEL is working on a different chain, but the goal is to merge all the system components. XFUEL is the first clean STATIC+PoSIGN “coin/token” and there are two goals:
1.) Beta testing the PoSign algorithm
2.) Finance the developments of XBY. This is very important and therefore I will say it again – XFUEL is not an independent coin. XFUEL is part of the XBY system. There is no coin swap and I continue to develop the XBY system.
3 – I was talking with Bryan about XFUEL much earlier and he seemed to think that on the X-CHANGE it would not be a set exchange rate for XFUEL to XBY but the price would be set by supply and demand like any normal currency exchange? Is that correct?
Borz: Partially true. The XFUEL emission will be very slow. No flood the market. I think the owning of XFUEL will be symbolic. Like medal. Everyone will see who help/support the XBY system creation.
CCR: This is partially true. The XFUEL emission will be very slow and will not flood the market. I think owning XFUEL will become symbolic, like a badge or medal. Everyone will see who helps and supports creating the XBY system.
4 – Is XFUEL necessary for development funding? Or is it needed as proof of tech? ? I think, first and foremost, nodes should be up and running, creating an ecosystem – which in turn would increase funds for development. It appears that XFUEL’s use case . . is to provide payment for services offered to XBY and be “traded” for nodes at a percentage XFUEL and a percentage XBY. Has the team exhausted every other available option? Being that the initial pairing is XFUEL/XBY, I see it hurting XBY price overall, as the only way to get “paid” would be to sell the XFUEL for XBY, and then the XBY for BTC or ETH. I could be incorrect here . . just trying to work this all out.
Borz: If we want faster development then yes, we need fund. I don’t want listing why we need pay, i think everyone know to we need pay the services, domain names, time of workers and lot of other. The XBY “investors” not classical investors bacause just swapping the “investments” between the “investors”. This not help the real contributors who help the development or spend the real money to services. The price of XBY is 100% unimportant because the most part of helpers/contributors don’t owned big pack of XBY. I want ask back. If the XBY price growing then this why increase funds for development ? The price growing of XBY don’t increment the development funds. The developer team don’t get income if the XBY price growing. Need XFuel. This is the way to we get more developer and more contributor and big developer teams. Each XFuel relate to real development and real value. This is the reason why the XFuel will be help to growing the XBY price. I hope the asker see now why are wrong. The XFuel increase the price of XBY and don’t decrease.
CCR: If we want faster development, then yes, we need funding. I don’t want to list why we need to pay because I think everyone knows we need to pay for services, domain names, time spent by workers and many other things. The XBY “investors” are not classical investors, because they are just swapping the “investments” between the “investors”. This does not actually help the real contributors who help develop or spend money for services. The price of XBY is 100% unimportant because most of the helpers/contributors don’t own large amounts of XBY. So, I want to ask the big investors to give back. If the XBY price is growing, does this increase the development funds? Price increases of XBY don’t incrementally increase the development funds. The developer team doesn’t get income if the price of XBY rises, because they don’t have very many to begin with. This is why we need XFUEL.
XFUEL is the best way to get more developers and more contributors and big developer teams. Each XFUEL is related to real development and real value. This is the reason why XFUEL will help increase the price of XBY. I hope the person asking this question now see why they are wrong. XFUEL increases the price of XBY, it doesn’t decrease it.
5 – Why is it necessary to build XFUEL so urgently and delay our main goal with STATIC Nodes, Website, WP?
Borz: Who wants working without income ? Who will help reaching the goals ? No. The XFUEL don’t delay the reaching of main goals. The XFUEL help so we reach the main goals faster.
CCR: Who wants to work without being paid? Who will help us reach the goals? No. XFUEL does no delay reaching our main goals, it will help us reach the main goals faster.
6 – If XFUEL will be cheaper, what is going to happen with STATIC nodes – break them and rebuy for XFUEL?
Borz: I done lot of calculations before released this idea. The 1:2 rate of XFUEL:XBY prevent STaTiC-s has XFUEL deposit only. If the XFuel owners want STaTiC then required to buy XBY. If the XFuel will cheaper then lot of XBY owner want buy Xfuel. If the XBY will cheaper then the XFuel owners want buy XBY. This is the balance than result is just more STaTiC and stronger network. And another important thing again. No flood the market !!! All XFuel releated real value. I think the XFuel owners don’t want sell Xfuel-s. The XFuel owners want STaTiC and want buy the needed XBY-s. The final result will be more STaTiC node, stronger network and more valuable XBY.
CCR: I have done a lot of calculations before I released this idea. The 1:2 rate of XFUEL:XBY prevents STATICS from having only XFUEL deposits. If the XFUEL owners want a STATIC then it is required to buy XBY. If XFUEL is cleaper, then many XBY owners will buy XFUEL. If XBY is cheaper, then the XFUEL owners will want to buy XBY. This is the balance that will occur naturally and the result is more STATICS and a stronger network. And another important thing is again that this will not flood the market. All XFUEL is related to real value (paid work). I also think XFUEL owners wont be so quick to sell their XFUEL. The XFUEL owners will want STATICS and they will need to also buy the required XBY. The final result will be more STATIC nodes, a stronger network and more valuable XBY.
7 – Can the XFUEL dapp run prior to implementing pulse, vitals, and node activation?
Borz: XFUEL does not need pulse and vitals because its don’t want data storage and lot of other features. The XFUEL is pure PoSign and use 10 fixed STaTiC nodes only. This is the veryl light version who demonstrate and test the working STaTiC + Posign techology. The other features like the module system and data storage and vital and pulse don’t implemented. And the XFUEL development ended. No more feature will be added don’t need XFUEL developer team etc
CCR: XFUEL does not need the PULSE and VITALS because it doesn’t need data storage or many other features. The XFUEL is pure PoSign and uses 10 fixed STATIC nodes only. This is a very light version which demonstrates and tests the working STATIC + Posign technology. The other features like the module system and data storage and VITAL and PULSE are not implemented. Also, XFUEL development has ended and no more feature will be added. So, we don’t need an XFUEL developer team.
8 – Is it possible to draw a simple architecture picture how X-CHANGE and XFUEL fit in the XTRABYTES ecosystem?
Borz: At this moment don’t exist. The test version of STaTiC system will be show the X-CHANGE function. Lot of pre-process tasks need finished before possible to drawing the simplified ecosystem images. Lot of unfinished plans need finalized before.
CCR: At this moment this doesn’t exist. The test version of STATIC system will show the X-CHANGE function. Lots of pre-process and tasks need to be finished before it’s possible to draw a simplified ecosystem image. Lots of unfinished plans need to be finalized first.
9 – I have economic questions that are based around why people would buy XFUEL with XBY. Namely why would you choose to partly fund your Static with XFUEL rather than just use all XBY?
Borz: If the XFUEL is unusable then no XFUEL market. Nobody want buy the XFUEL if the XFUEL is nothing. This is win-win situation. The XBY win because get better network and more fan-s + developers and more value. The XFUEL also win because get value and market.
CCR: If XFUEL is unusable then there is no XFUEL market. Nobody wants to buy XFUEL if the XFUEL has no use. This is win-win situation. XBY wins because it gets a better network and more fans + developers and more value. XFUEL also wins because it gets value and market.
10 – Its clear that behind XFUEL some people here have made a lot of work, but is XFUEL the only solution for the project so it will run faster and go to the next level?
Borz: I will done the all development but only one lead developer don’t enough to this project sucessfull. I said more times earlier. If we want bigger than BTC or ETH then we need bigger community and more fans and more nodes and more developers. If we want this then the XFuel is the key of the door of the next level. Just one question need answered. You contribute the project if you just spend the your time but don’t win ? We also need rewarded the later joiners. The early “investors” also win if the community growing and if the community is strong.
CCR: I will finish all the development regardless, but with only one lead developer it’s not enough for this project to be successful. I said many times before, if we want to be bigger than BTC or ETH, we need a bigger community and more fans and more nodes and more developers. If we want this then XFUEL is the key to the door for the next level. Just one question needs to be answered: Would you contribute to the project if you just spend the your time but don’t get paid? We also need to reward the later comers. The early “investors” also win if the community is growing and if the community is strong.
11 – Why not use XFUEL as the mandatory payment within the XTRABYTES platform?
Borz: The XtraBYtes system payment is XBY. Only XBY. The STaTiC nodes is the keys of PoSign system therefore the system always protect the deposits and guarante the XBY income after the service providing plattform started. This never change. If someone spending the XBY and buying STaTiC then this always will be good business. This is very important because if no STaTiC-s then no PoSign and no XBY.
CCR: The XTRABYTES payment system uses XBY – only XBY. The STATIC nodes are the key of the PoSign system and therefore the system always protects the deposits and guarantees the XBY income after the service providing platform has started. This will never change. If someone is spending XBY and buying a STATIC then this always will be good business. This is very important because if no STATIC-s then no PoSign and no XBY.
12 – Can we compare XFUEL to ethereum’s GAS?
Borz: No. XBY is not ETH. XFUEL no use simile like the GAS. XFUEL is development money. Finance the development only the goal. ( and beta testing the STaTiC + PoSign)
CCR: No. XBY is not like ETH. XFUEL is not used the same as GAS. XFUEL is development money. Financing development is the main goal along with expanding the STATIC network ( and beta testing the STaTiC + PoSign).
13 – Why not do an ICO of some sort to get exposure on the ICO channels?
Borz: The XFUEL is better than ICO. I think the most of ICO is the way to fraud or stolen etc… Remember the parent of XBY is one big ICO scam ? The XFUEL paid after the work/service be completed. This is the reason why better. The initial ICO scam is the reason we why no have development money and why have investors whitout development money.
CCR: The XFUEL project is better than an ICO. I think most of the ICOs are the way to fraud or stolen etc… Remember the parent of XBY is one big ICO scam ? The XFUEL is paid after the work/service has been completed. This is the reason why it’s better. The initial ICO scam is the reason we why no have development money and why have investors without development money.
14 – Don’t know if this will mess the price of XBY alot but isn’t it possible to create like 100 million extra XBY for funds and burn the same amount when it is being traded?
Borz: No more than 650 million XBY. We declared this the starting of this project. Not possible to change this without splitting the community.
CCR: No more than 650 million XBY. We declared this at the start of this project. It’s not possible to change this without splitting the community.
15 – Will we buy advertisement in big crypto websites ? From where will we take money for this ? Can we take money for advertisement from dev funds we have now over 870 000 XBY?
Borz: This is marketing question. Dave will be answer this. I don’t know the marketing strategy.
CCR: This is a community decision but I personally feel it will be a good way to spend those XBY
16 – Will it be available to check richlist of XFUEL tokens? Community would like to have control where are XFUEL tokens…. It can`t be like on time market will be flooded by XFUEL and we will not know from where are they
Borz: Yes. All XFuel transaction will be displayed very detailed not only address and value. Who get the XFuel income and why (service/work description)
CCR: Yes. All XFUEL transactions will be displayed with full details, not only address and value. Who gets the XFUEL income and why (service/work description).
And he finished with:
I hope to all member understand the XFUEL is no risk and help the growing of XBY. We no emit XFUEL without the community accept who and why get the XFUEL income. Good night everyone. And thank you the all of interest constructive question. I always try finding the best solution therefore never worry the XBY will be the best coin. The good questions always contribute to the XBY be better.