On The Pulse #1
Youtube Live Stream
Start Date/Time: March 7th, 2018 @ 7PM GMT +0
End Date/Time: March 7th, 2018 @ 8PM GMT +0
dedpull: Hello everybody. Welcome to XTRABYTES’ first On the Pulse stream. With me today I have our founder CCRevolution (one of our founders); I have our marketing & design team-lead chef; and I have our development leader danny here with me. How are you doing today guys?
CCRevolution: Excellent dedpull, how are you?
dedpull: I’m doing well.
Everyone: Doing well.
dedpull: Alright guys well let’s go ahead and jump right into it. Let’s start off with the hot topic, that everybody likes to hear about: the patent. CCR, do you have any updates for us on that?
CCRevolution: Well, you know, updates… that’s difficult at this stage to get in to. How bout if I give a short version of how things have gone so far from the beginning to the end? Would that be OK?
dedpull: Sounds perfect.
CCRevolution: OK. So how this all started back in I guess it was November or December when when we decided we were going to do this… My first task was obviously contacting law firms. And I started doing that from over here in my residence in Europe, and reached out to a couple of firms and thought we had something coming together. But as it turned out, people weren’t actually taking me seriously, I guess because we’re in crypto and we’re trying to patent something. It’s just not normal. So anyway, I decided that the best thing to do is to go and sit face to face. And so I booked a flight and headed over to Canada, and spent three weeks in Canada visiting family and friends, and also reaching out directly to some law firms while I was in downtown Toronto. I found a group that were ready to see me, right then. So I dropped over and sat down and had our first meeting with them, face to face. At that point of course now things were different, because you’re looking at each other in the eyes and people can see that you’re serious. I started telling the story, that we all know here (on the call) about Borz, myself and XTRABYTES – how all this has come together. And where we were at that point with everything. And so, that’s when it all started. And they were like “OK yeah, sounds good. We’d like to help you guys – and here’s how it works…” etc. And so basically the next question was, “how are we going to get the information”. And I’m like “alright well, we have three options. You guys can come to Europe – to Hungary. Or we can try it online, which probably is not going to work, because of how Borz is. Or I can try and convince Borz to come to Canada.” And I decided that myself and Borz coming to Canada would be the best bet. And so that’s what I did. I got him into a chat, and (laughing) – I’m just remembering back here, that’s why I’m laughing. It was -18 in Canada on that day and he Borz says to me “if it’s -18 in Canada, I’m not coming” (giggling). So anyway, I convinced him. He said “yeah OK, let’s do it”. And so we booked another flight, and away we went. So we showed up in Canada. We had three separate meetings with the lawyers. And now this is where things start to… where the rubber hits the road, so to speak. Because now, the situation (which is what I wanted to get to) is to get a working relationship. So that the lawyers can understand how Borz communicates. And to get a better idea of his intelligence, where he’s going, and gain an initial understanding of what he’s putting together. And we accomplished that. So for the first meeting, it was a challenge. The second meeting was a little better. And by the third meeting on our last day there, the lawyers had a nice lunch laid out for us and we sat there and talked for a while. It went very well. And so the next stage at that point was to decide how we were going to proceed. And so now, what’s happening is little bits of communication back and forth, until the point of this past Monday… so what 2 or 3 days ago, we had about a four hour meeting, online. And it was just texting, which works perfectly for Borz. And one of the things that I’ve actually noticed people in the community realising this, is that Borz’s English is improving dramatically. And just to back up a little bit – the first time him and I met, last June, was the very very first time in his life that he ever spoke directly with somebody (face to face) in English. And so, anybody who knows anyone who’s learning English knows that part of the challenge is getting past their nervousness, building their confidence, so that they can learn to speak and be more confident. And then, thereby beginning to communicate properly. And so that’s starting to happen. When he came to Canada this time, again he was a little nervous, but after a couple of days when he started seeing that people are understanding him, then of course his confidence level is rising, and so that was all happening as well. And so now, we’ve got a situation where Borz is actually able to carry on with confidence the conversations with the lawyers (in text), and it’s working out very well. So a lot of drawings coming together. He’s explaining everything in his own language. I basically got the point where I said “it’s better if you just explain it in your own words, rather than sending me a drawing and expecting me to try and explain it. You go ahead and explain it in your own words. And if we have to, I’ll fix it up and we’ll get it to the lawyers. But what’s happening is things are coming together very well. So, we’re waiting now for a preliminary… not preliminary, an initial draft – I guess we can say – of at least one of the patents. And we’ll see where we’re going to go after that. So work is continuing very well, very strongly, and I’m quite happy with were we’re at. So I’ll turn it back to you dedpull.
dedpull: Alright, that’s awesome. Thanks for that update. So obviously most of you guys know, who are listening in, that we’re going to be moving to our new XCITE wallet here once we have everything set on the backend. So with that, I’d like to turn it over to danny from our development team to talk about the progress that’s being made on that front. Danny?
danny: Thanks dedpull. So guys, as some of you might have seen, a lot of work is going on on the XCITE platform. The development team is also really growing. I just want to say thanks to the development team – the guys are really doing a great job, putting in a lot of hours. So I’ve got a little present for you guys. I’m going to share a new version of the XCITE wallet after this meeting. So we are going to version 1.3. It’s a huge improvement over the last version we released two weeks ago – 106 changes done. I’ll also share a list with you guys of the release notes with all the changes we did to the wallet. I hope you guys enjoy it and can see we are making a lot of progress there. Sometimes I get a lot of questions from you guys – “how many people are actually working on XCITE and the other parts?” Some of our XCITE devs are also active in the general (?) and stuff. So at this point there are five GUI devs working – five parts. They are working hard on that – so I hope you guys can follow that. A few of our other devs are working on other parts – but I’ll get back to you on that later. Also, taking chef into this, because chef is working with some designers now for XCITE. He’ll tell you a little bit about the new designs we did the other day and the parts we are working on right now.
chef: Yeah, absolutely. So, it’s interesting it seems that a lot of the UI and UX happens obviously a lot quicker than development simply because of the fact that it really is easier to do. So we’ve gone ahead and kind of been able to design a lot of the modules we have in place, under danny’s supervision and going off of the ideas that Borz and CCR have for the project. And right now, I think we’re in a state where it’s looking incredible; a lot of the public I believe hasn’t even seen what we kind of predict the final version is, right danny? I think the UI and UX has kind of stepped ahead in that sense, but I really believe the work that the UI designer… Bilen should get credit for it – is doing an incredible job. I think we’re going to have really an amazing product that… when we reach that point, people are going to be very impressed. I’ll let you comment on that danny, you’re more on top of it than I am.
danny: Just like you said chef, today I went through the specifics from our Github and I saw that only 126 unique people revised (reviewed?) the code. It disappointed me a bit because a lot of people are asking about progress and talking about not seeing progress. But it is there – it is open, everybody can see/download and compile the pieces of code. And for that reason I’m sharing a runnable executable for Windows and Mac just after this meeting. People can download it, open it, click through it and even connect to the testnet 3 wallet through it and do transactions and see balances – and just test the GUI out. That’s what I want to community to do also, to get feedback on everything we are doing. Everybody is doing a really great job but it might be possible that we miss some parts that can increase the usability. So again guys, after this we are going to share runnable executables so you guys can actually use it. Once again, you can connect it to the testnet wallet, that’s still running. I hope you guys enjoy it. Please keep an eye on the Github, also on the Github Discord channel. There’s a lot of changes there on a daily basis. And you can also see, we have our issue list and work-in-progress list also public on the Github, so all you guys can see everything we are doing here.
dedpull: Awesome danny, thanks for that update. And you know, just so everybody’s aware, if you do want to send some feedback about the XCITE wallet as a work-in-progress, there’s an option on our zendesk support page to submit some development questions on the wallet. Just letting everybody know that. In regards to XCITE and integrating it with our new website that’s in the works, I’m going to pass it back to chef to discuss a little bit about that and what our marketing is going to be here as things start to ramp up.
chef: OK. So in terms of… I guess I’ll start at the top level and work my way down. I’ll try and be as brief as possible in the points so to not drag on too much. When I came in a lot of what we discussed internally was we needed to establish a digital marketing strategy at this point that would be immersive enough to what we think is really needed in this industry which, as most people know in our community know, is incredibly fast-paced. Things are happening all the time. People are looking for not only updates but progress on all fronts. So we needed something that was kind of “hyper-drive”. The right way of doing that, from a top-down level, was to really focus on hiring the right people. And that’s kind of what we’ve been focused on more than anything, and it’s what I believe is really going to lay this platform – this groundwork for us to able to accelerate through the other channels and initiatives a lot faster. We’re closing in on two new hires in the marketing department. One more in the analytics sector and one more in the general marketing specialist role. That’s going to be huge because it’s going to provide a lot more manpower for us. From a strategic standpoint we’ve gone ahead and really looked at what XTRABYTES has been as a “brand” in the past year, and tried to take what we thought was working, what wasn’t, and decided to re-work it and bring in new voice. And a lot of it has to do with what kind of company we see ourselves as. Again, these are things that are all being worked on right now. I can’t give specific answers, but the strategy that we’re working on is redefining the voice, the tone… some initiatives, maybe the community knows about, maybe it doesn’t, is we’re redoing the brand guidelines; we’re redefining our editorial pipeline so that we are targeting the right publications and magazines for when that time comes. From an ad standpoint, obviously we’re waiting until we have further progress on product before we begin with what we can state as our “ad channels”. But we have already begun to set up things like google adwords, facebook ads… the back ends for that, so that when XCITE is ready and when we as a community believe the time is right to start marketing, we’ll be ready with our assets for that stage. We actually just hired a new PR specialist who, again, is fantastic because it gives us an amazing way to reach publications and magazines, which as the community knows is massive right now. And it’s really one of the things we want to focus on – is getting the word out there. Especially since we don’t have product right now. So we’re putting a lot of energy into that. Another point too is, I’ve seen someone bring up the concept of bounties. You all know we have the X-fuel bounty up right now. Soon we’re going to be posting a lot more. So it’s going to give opportunities for the community to take on more tasks for x-fuel and get more people involved on a kind of “freelance” level. That will really help boost tasks that we need done – that the community needs to contribute with. Again, a lot of these things are in the works. A marketing strategy from the top takes quite some time to develop properly. As we’re bringing on new people, I think we’re going to have something really powerful that will be easily expandable once the time comes. So, I think it’s going really well.
dedpull: Awesome. So just to clarify, will those bounties be posted on bounty0x?
chef: Yep, so the idea would be to – after discussion with the marketing team and a few members in the other departments, we said why don’t we just litter that with tasks and see happens. If people don’t want to do them they’ll just sit there and no one loses anything at the end of the day. But if people want to take on those tasks… maybe you’re really good at design or something, or your very good at some arbitrary task, you might find it worth it for some x-fuel and in the process do something cool for us.
dedpull: Awesome, thanks. The next thing on our agenda is something that’s a pretty popular topic, especially for those who are looking to purchase nodes or actually already have a node. That would be the node registrations, and the fees that are associated with those. So, CCR, I’m going to start with you. If you could kind of expand on what’s being talked about behind the scenes between you and Borz and danny.
CCRevolution: OK so anybody who’s a STATIC owner at this point knows that we had discussed early on that anybody registering after the 50,000 block was going to pay 100,000 XBY. And we do listen to the community. We’ve seen a lot of comments about that being too high, and of course when the price was at 80 cents that was a lot of money, we understand that. This is not something that we can make the choice on. This is something that is going to be given to the STATIC owners to make a vote on. We’ve already got a document put together and we were actually going to release it this week. But we decided to hold off because we felt that the reward system should go along with it. That’s kind of leading into the next part that dedpull’s going to get into… So what’s going to happen is, the STATIC owners are going to be voting on the fees. Because it’s their the ones who originally set all this up; they’re the ones who have been sitting patiently waiting while we put all the tech together and while the community grows, and while we go through all these ups and downs and all this stuff that’s happening. And so but rights, they should be the ones to decide. So they’re going to be able to make that choice. And it’s going to be the same vote style as we did before. So somebody who has for example 20 STATICS is not going to get 20 votes. They’re going to get five. If somebody’s got one, they’re going to get one vote. If somebody’s got three STATICs they’ll get three votes. Five is the maximum. That’s the way it’s going to be. They’re also going to be making the decision on whether or not that want to have x-fuel as part of the fees. This is something that Borz and I discussed earlier in the week, and I gather, why not… That might be possible. But again, this has to be decided by the STATICs (owners). Because we don’t want to make these arbitrary decisions and say “too bad for you”. That’s not going to happen. We want to be fair. This is a community company and we want to be fair at all times. And so that’s the only fair way. So STATIC owners are going to be doing a vote, coming up very soon. It’s going to be a good vote – I’m sure that the right decision is going to be made for the entire company, and moving over to… actually you know what, I’ll pass it back to you dedpull, that’s all I have to say. Then we’ll get into the rewards, or are we going to go there now?
dedpull: Well yeah, for sure. Danny, did you have anything to add on that? If not, we can go ahead and move on to talking briefly about the rewards.
danny: I think we can move on, they’ve said it all there. Everything is a work-in-progress and I think it’s best to go to the next part.
dedpull: Awesome. Alright, so node rewards… just briefly touch on that CCR, I know you mentioned a document will be coming along with the registration and fees that we’re working on…
CCRevolution: Well yeah, the rewards (system) is actually probably one of the most complex things we’re ever going to have to decide, other than the tech itself. Because this is something that’s got to be right; to the point where we’re going to be asking a lot of the community members to help us to get to the right things. So for example, what’s going to make the trust factors go down? So this is going to be put out to the community to debate… You know, various things have to come up. We want to include everything, and to, again, be fair. Because, the rewards system is one that needs to be done so that it’s profitable, for not just the STATIC owners, but also for the company. Everything has to work properly so that we are a functional company that when an experienced investor looks at us down the road, they see that there’s a lot of good things happening here that have been done right, and a lot of thought has gone into it with the right minds, to come up with the right figures so that we have something that’s strong, profitable, and makes it so that the STATIC owners want to hold on and remain part of it, and to help us continue down the road. Because, even though we’re bringing on lots of people to help at the company side, word of mouth is probably still the most powerful thing you can have. So for the community to be out there, bringing more and more people to the table, maybe some companies, maybe some services, who knows what; all these things are what’s going to help make it so that XTRABYTES becomes more profitable. And that means everybody. That means level 1, level 2, level 3 (nodes), the company, everybody has to make money. And so the rewards, is something that we’re working on. There’s a lot of discussion going on right now, we do have some excel files happening – percentages are being worked with. All that stuff is coming, but yes; there will be an announcement – an update – going out that’s going to start the debate and in fact, you know, I’m sure you guys will start to debate now… that’s not something that you have to be told to do. So yeah, we’re working on that as well. Go ahead, dedpull.
dedpull: Awesome, that’s great to hear. So, I’m sure those of you who at least follow our Discord have noticed that we have a Jobs channel posted with job availability that we have here at XTRABYTES. A couple of them I’d like to touch on are the UI/UX designer we’re looking for. Chef, do you want to speak a little bit more to that?
chef: Yeah, so we have a current lead whos working primarily on the UI and the UX, however we are looking for someone to assist in that. More specifically, we’re looking for someone with mobile experience, IOS and Android, who can really just push the design on that front.
dedpull: Awesome, and any updates on the Director of Business Development and Marketing SEO Specialist job postings?
chef: Yes. So the Marketing & SEO Specialist I was talking briefly about earlier; we have a few people, it’s still in theory an open position. The business development as well, CCR I don’t know if you want to mention more on that, but it is also something that’s currently open and we are speaking with a few candidates for that.
dedpull: Awesome. So, progress; that’s great.
chef: Oh yeah, progress. We’re all about it.
dedpull: So is there anything in regards to how the CEO position will be posted? I know that’s been a hot topic in the community. That’s to anybody, chef or CCR.
CCRevolution: Go ahead on that chef.
chef: In terms of, and CCR you can interject at any point with this, it’s obviously a very position. There’s been talks of how we’re going to go about it. I think in the beginning for right now, it’s going to be… the initial search is going to be internal; in terms of the management team looking forward. And I think once more has been decided as to the root of it and again maybe more of the direction, I think CCR again, you can correct me if I’m wrong here, but we’ll publish it publicly and again really just go more public with it. But I think for now the team wants to do research, wants to see who could be the right fit, look at the right profile, see where we’re heading and see someone who matches that path.
dedpull: Awesome. So if a community may have a suggestion or like a friend that’s a successful business person, should they reach out to you or who should they reach out to for recommendations, chef?
chef: No, so right now… I wasn’t too clear. We’ll be doing the outreach internally, first. If people have recommendations, it’s kind of a tough thing to take on recommendations. I think what we’ll do is, when we’re ready to, we’ll do obviously an official posting for it. That will allow people, if they know somebody, they can just directly apply to it like anything else.
dedpull: OK. Yeah great that makes sense then. Something else that’s been a pretty hot topic as well would be the NDAs (non-disclosure agreements). Is there a way we can get some clarification as a team as to if those NDAs are looking to be signed before we have the patent or after? What’s the situation there? I leave that open to anybody who wants to discuss it.
CRRevolution: Well, first of all, one of the reasons why we set up XTRABYTES Limited was so that we were able to do a proper NDA. So that’s all part of it. We also need to get another law firm involved; that’s on my list to do. So there’s communications going out with some crypto-specific law firms so we can get somebody on retainer to put together a proper NDA and do advice and other things that need to be done as well. That’s all work-in-progress. So yeah, absolutely NDAs need to be done, with the developers. I’m not sure what else needs to be done, we’ll have to look at that again. That’s going to be something that the law firm can help us with, to get it all done properly. So that’s coming.
dedpull: OK. So would those NDAs be signed prior to us having the patent pending or would the be after?
CCRevolution: I don’t even know how to answer that, it could be one or the other, it really depends on what the situation is. It’s all about timing.
dedpull: OK, that’s fair. Awesome. So, any updates on x-fuel, about the breakdown etc., CCR, that you can give us?
CCRevolution: Well actually, yeah OK I’ll do a great update on x-fuel. I think x-fuel… anybody’s who’s really looking at this company with a neutral eye, or even a positive eye, they can see what’s happened here. And I can look back on this company a year ago, and remember that between myself and just a handful of other people on the original forum, were making some posts. A little bit. I think in the course of about two months there was maybe seven pages. Right about now, a year ago, maybe we were about four or five pages in and we ended up with seven pages in total, that ended on April 7. And from that point on, this community has grown. And hats off to a lot of people out there, who worked their butts off for free, without ever having any expectation whatsoever to get paid anything, other than just being part of this deal, which in itself was exciting. And that’s something that people really need to step back and look at, and realise what’s happening here with this tech that’s coming along, that has (chuckling)… the impact that’s going to come from this is going to be huge. And I’ve said that a lot, I know that a lot of you have heard that and maybe some new people haven’t. But the point being that along the way we started seeing that we weren’t getting the kind of productivity we needed out of people who weren’t committed at the heart and soul level. That was a problem. People need, and this is no fault to anybody, people need to make money. That’s the bottom line. People still need to make money, and you can’t expect to have the current kind of commitment we need to build this program, to build this company, without being able to pay somebody for their time. Because obviously what’s going to happen, is that they’re going to have to only…
dedpull: Oh, looks like…
chef: We lost him.
dedpull: Alright well for now we’ll go ahead and move on to some questions, I’ll open up the live chat here. CCR can go back to that topic if he can get his connection back. I’m going to open live chat like I said, we’ll start fielding some questions and see if we can get some answers for you guys.
chef: OK. Should we wait for a few of those to come in?
dedpull: Yes, let’s wait for them to come in.
danny: Once again guys, I just said thanks to my development team, but I also want to say thanks to you guys dedpull, chef and Dave (CCR), and all the other guys in the other teams that are working their butt off on this. There are really a lot of things going on at this point, and sometimes there are a lot of long days and a lot of hours are put in, without anybody complaining. So, again guys, thanks for that.
chef: Yeah, absolutely. You’re welcome danny.
dedpull: I’d also like to shout out to our tech support team and our moderation team who’ve been absolutely great, in cleaning up this place in the past two months, from where we started to where we are now, it’s a million times better. So, I bow my head to them and thank them. Alright so, the first questions are coming in here. This first one I’m going to go ahead and shoot to danny. So, someone’s asking, this is from Sportsattackattack:
“Testnet number 4 – will the zoltchain switch happen immediately after the patent pending status is achieved?”
danny: Now what I can tell you about this guys, it’s going to be a step-by-step process. It needs to be checked and double-checked, because we are talking about real money here. A lot of real money. It won’t be directly after the patent is out. It’s going to be a step-by-step process, and again there’s a lot of testing needed and a lot of test convergence is needed. So it isn’t just straight away after the patent.
dedpull: Awesome. Thanks for that danny. Let’s see what else I can get asked here. I guess JPhilly is kind of asking a similar question. So in regards to the code being available on the Github right, the backend code; I know we have internally talked about making that public, after we have patent pending. So, the question is:
“how soon after the patent pending will the code be published on the Github, or what parts of the code will be published?”
danny: Well I really can’t tell, I wish I could give a date on that, but at this point I can’t because, partly due to the NDAs like Dave just said. Regarding the patent, you should know that a lot of work is going on in the back end. It’s still being tested and being developed. Borz is also regularly downloading the code from Github and testing things on his own machines and stuff like that. I know after the patent is out things will start rolling faster and faster. There are a lot of things we need to take in mind, a lot of things that need to be tested. A lot of work needs to be done. The good part is that I have quite some developers at hand, ready to step in – already reviewing code. Once the patent is out and once the NDAs are in they can quickly step in and we can quickly start producing some pieces of XCITE.
dedpull: Thanks danny for that answer. To everybody out there who’s listening, if you guys can’t see the chat going, just refresh your page and the chat should show up. Sorry about that. Let me see some other questions we got here. So danny one of the questions, this is from Harun Azam:
“There have never been discussions of level 4 nodes, correct?”
danny: No, as far as I know, there’s only level 1, 2 and 3. I’ve never discussed level 4 or 5. I did see the question today on Reddit also, but it hasn’t been discussed. It’s just level 1, 2 and 3. If we need more nodes for a larger network, as said earlier we can do some kind of split. That also isn’t documented now.
dedpull: OK, thanks danny for that.
CCRevolution: Can you hear me now?
dedpull: Yes, we can hear you now Dave, awesome. We actually have a question for you too. I know we’ve talked internally about this and there’s probably not too much information we can give out at this time, but do just want to give a quick update on the company shares for everybody to listen in.
CCRevolution: Well again, I’ve seen some talk about that and I really don’t know where it’s coming from and I guess it’s just speculation. As I said when I first announced this; we don’t have any plan at this point about what we’re going to do with the shares. When we have a plan, obviously the community is going to be the first to know about it. There’s no thought that has even gone into it so there’s nothing really to say.
dedpull: Awesome, that’s all I needed to know. Appreciate it.
CCRevolution: Shall I continue from my where I got cut off earlier?
dedpull: Yeah, if you want to, go ahead.
CCRevolution: OK, so basically I guess the direction I was going here was, we had a situation where the company got to a point where things started to slow down to the point where we started saying “OK, we need to do something here in order to get development happening faster”. Because the idea had grown tremendously, and we needed help. And we needed to do something, and x-fuel was the idea that came up. And yeah there was a lot of resistance but I think x-fuel has proven itself beyond proof that this was the right decision, because we have an absolutely fantastic team that’s coming together here. And people can come with their entire heart and soul, and put it all in here and at the same time still get paid. It’s the way it’s supposed to be. So now, look at where we are. After one year. We have some top professionals working for us, working with us. And continuing to expand, and continuing to find other top professionals to work with us. And for me, looking at this thing and knowing where we started from and knowing where we are right now… This is a huge, huge project that’s coming together. It’s a top tech, that’s coming together that’s disruptive and a lot of people are eXCITEd about it. And so anybody who’s out there just finding out about us now, needs to understand that we’re not screwing around. This is not some kind of a joke. This not something to be doubted. Like really, it isn’t. This is serious stuff. We’re building something here, and let me just finish up here with a little blurb that Borz said. I tried to get him on here to talk tonight but he didn’t really want to do that, so he shared something earlier. And I think this is probably a really good way for me to close out. As you know, there’s a lot of FUD. We know there’s a lot of FUD and on that note: it’s nothing new guys. The FUD has been going on since day 1. And it’s not going to stop. And there’s a lot of reasons why it’s not going to stop. Some of it’s to drive the price down, some of it’s to try and stop us. That’s not going to go away. Get used to it. A lot of the community who’s out there now has already made their investment. We don’t expect you to invest more. We don’t blame anybody if the price is going down. It is what it is. The price will go up, when we’re ready. We don’t want to have this thing hyped. That’s a mistake. This project is not to be hyped. OK. We’re taking this thing properly, out to the marketplace step-by-step-by-step-by-step. That’s what’s going to happen. Don’t be worried about it. We are putting it together, it’s all coming together. So the FUD, you can’t do anything about it. But, here’s the deal. And this comes from Borz. We have more proof than other coins. We haven’t collected money from anybody. No money has come to us from anybody through an ICO. We’ve not collected anything. We have proof of our technology already available. That’s x-fuel. That’s posign in action. That’s our first proof. We have a company. XTRABYTES Limited. So, do we need more proof than that? In this point in the marketplace, do we really need more proof than that? I don’t think so, and there’s a lot of people in the community that agree with us. And there’s other people out there that want to try and scare everybody. That’s fine. It’s part of the game. But we are just going to continue moving forward, and as soon as we’re ready, that patent will go out. And you are going to see it. So, make your choices based on that. Otherwise, the only other thing I want to say here, is to thank everybody. The community here, to thank all of you for your patience. Because most of you are patient. And that’s awesome. We thank you very much for that. But for the developers, the designers, the writers, all of you people out there helping us. Thank you very very much for all of your heart and soul work that’s going into this. All of your intelligence, all of your creativity, everything that you guys are bringing to us, is helping XTRABYTES become what it is. The price may not reflect what we are. But it will sooner or later. So thank you all very much. That’s pretty much all I want to say tonight. Dedpull, awesome job. Thank you. Danny, chef, great job guys. And that’s all from me.
dedpull: Alright, thanks CCR. I’m going to take a look at some other questions we’ve got here. I’ve seen a couple of questions about exchanges. I know we’ve been reluctant to move to any. So chef, I know we’re looking for somebody to be the point person for exchanges, right? Can you talk a little bit about our vision for adding XTRABYTES to exchanges in the future.
chef: That might be a little bit bigger than I can comment on as I’m mostly marketing. This is probably for CCR.
dedpull: OK. CCR, sorry. If you want to just jump in on that.
CCRevolution: No problem. Basically, let’s just look back a couple of weeks ago. In fact I was on the plane with Borz coming back, our last leg, and somebody had sent me a message previously about NEO, or NEON, or some other coin that had been hacked on a small exchange. This is where Borz is careful. He doesn’t want that to happen. Here’s the problem with small exchanges. I know everybody wants to be on a bunch of small exchanges to get more community members and all this kind of stuff. The problem here, is similar to what happened with Yobit. If you get to a small exchange when we need it updated, that creates a gap in our security. We’re small, right now. We’re running under the radar. But, if we’re running above the radar and our coin has value, who out there wants to watch their coins disappear because the security is not done because the owner of the exchange doesn’t care or didn’t get to it or whatever the case may be. It’s very risky. That’s why Borz doesn’t want to do that. At the flipside, the big exchanges. Why do we want to go to a big exchange now? Let’s take a look at what happened on January 1st or 2nd or whatever it may be. Of course it was fixed right away because we have Borz as our developer, and right away he went to work and fixed the problem. But, we don’t need that. You don’t want to be in Binance or Bittrex or any of these other big exchanges and all of a sudden have an issue pop up that shouldn’t have happened when we have all these big money investors, putting their money into the coin and then something happens like that. Something silly, that crashes the price maybe or… you know what I mean? It’s just not what we want to do at this point. So we’ve got to ask you guys just to be patient. Let us get this done. It’s coming together, don’t worry. But we don’t want to jumping on all kinds of different exchanges. It’s risky. In both ways. Back to you dedpull.
depull: Thanks for that answer. I think it completely makes sense, not to rush into new exchanges when we don’t even have our final tech available either. That’s just my two cents on it though. I’ll take a look at some of the other questions we’ve got here. One second.
danny: I just saw a lot of questions that, some people were asking if we are aware of new currencies and the moves other coins are making.
depull: Yeah, absolutely. I think we have to keep an eye on what other coins are doing, right?
danny: Yeah, but I can even go a bit further on that. I just talked to chef about that and it’s going to be part of the job for one of our new guys that’s coming in. We are going to do a lot of research on the market. We are going to determine our place in the market, where our blue ocean? might be. We are going to research other coins; what they are doing, what tech they are going to make. And we are going to make internal documentation on that so we can stay ahead of the other coins at this point. Evaluate all steps they are making and we can look even further on the horizon. So actually, we’re going over all the internals, on that. And we are looking at that. And it’s also going to be a part of the business dev (position). I am preparing a lot of things for that. As CCR said, as we are a company now, there’s some professional stuff needed, and a lot of the professional things we are doing right now are getting up our document management stuff, our quality management stuff, and things like that. Our place in the market is also one of the research points we are doing as a company right now.
chef: I can add to that too from a marketing standpoint too. I and I think the team is very much informed consistently of what’s going on. Now more than ever you also have access to various publications that you can read about what’s going on at all times. And we are, every day. We’re researching, we’re seeing what other people are doing, how they’re doing things better. How they’re doing things maybe not as good as we think they could be, and how we can leverage that for our own progress. And it loops back around to what danny was saying and CCR, in terms of exchanges. You have to have proper risk assessment for a lot of the decisions we make. Especially when it’s very tangible things like people’s money. In terms of marketing, it kind of goes hand in hand, because you have to be sure that where you are putting your money and where you are essentially displaying your product is going to A) be profitable and B) be a secure option for people. We’re on top of these things all the time, and again it’s part of this initial research that danny’s doing, that my department’s doing, that CCR’s doing and that Borz is doing. Taking our time to make sure we are going to enter this very new market in the correct way. Because nothing has been proven yet. Nothing I has been around for that long. So everyone’s entering this a little new. As exciting as it is we just have to make sure we’re doing it right. I think we’re on the right path.
dedpull: Awesome. Thanks chef and danny for that. Another question similar to the one we had earlier, danny, about testnet 4:
“Testnet 4 is still planned to be the final testnet, correct? And that will be after Patent Pending – is that still the plan?”
danny: Well in testnet 4 there will be, of course, the new tech. But we can’t say when testnet 4 is going to be and also not how long testnet 4 will be done. Because, just like I said before, in the update, a lot of things need to be tested. Step-by-step progress, implementing parts of the code and testing over and over again, because we are talking about a lot of real money. So, a lot of things need to be done. There will be a testnet 4, it could easily run for a month… (inaudible). But yes, it’s a work in progress.
dedpull: OK, thanks danny.
CCRevolution: If I could just jump in on that as well, if Borz was able to answer that question; basically as far as he’s concerned, testnets will continue forever. So we can’t say that testnet 4 is going to be the last, but even after mainnet is on, there will still be testnets going on after that. With his development mind and what he does, as far as he’s concerned, testnets will continue on forever. We’ll always be testing.
dedpull: Awesome. Let me take a look at what other questions are being asked here. So danny, based on our previous announcement that we had given out about our ballpark rough estimate when we expect things to be done with the patent, we’re still looking in the April timeframe correct?
danny: I think that’s a questions for Dave.
dedpull: Yeah that’s what I meant, CCR sorry.
CCRevolution: That’s what we’re shooting for, absolutely. Borz has got all his focus on it right now. He’s busting his butt. It’s coming together. We’re doing our best.
dedpull: Are there any developmental updates on any of the modules; X-VAULT, X-CHANGE, X-CHAT, anything in those regards danny, that you can give updates on for the community?
danny: Well you guys can see our first drawing of X-CHANGE in the executable that we will release just after this meeting. It’s not working, it’s just a markup working in code already. It’s not connected to anything but people can see how it looks, how it’s going to work. I hope you guys like it. As far as the other modules, I can’t really say a lot about it right now. Our main concern is just getting the main tech online, and after that we will go further with the modules on top of that. We are doing designs, we are doing GUI codes. Borz also has some parts of other modules/programs as well but again, it’s all for later. I can’t give dates for that.
dedpull: Awesome. Thanks danny. So danny had said, once we have this On The Pulse closed, we’ll give the links for everybody to checkout the new progress that’s been made on the XCITE wallet. Let me see if there’s anything else we can get some answers for. As far as those who are asking questions about how the tech works and how the tech is going to be setup, we can’t really answer those questions right now, obviously without the patent. We might be able to answer this: I think, danny, nrocy has been working, or at least has a mockup or even actually had it working, of the hardware wallet? Using like a… didn’t he have that working with the old XTRABYTES wallet or the current XTRABYTES wallet, rather?
danny: I’m not sure about how far he got it working, I did know he wants to port it to the ledger. He did get it quite far, working. But I’m not sure about the progress.
dedpull: OK, but so he definitely did do some work on it. Awesome.
chef: Yeah, he’s a madman. If I can just put that out there.
danny: Talking about that guys, he’s also working on the tipbot(?). I do believe he need some extra hands on testing that in the near future.
dedpull: Alright. I’m seeing a lot of questions about comparison between proof of signature vs delegated proof of stake. Danny, would you have any insight into that? I’m not sure if you know the ins and outs of dpos, but I just figured I’d ask that question because it’s coming up a lot.
danny: Well there’s a lot of information on that already on the website. I really can’t go really deep in that because a lot of parts are still waiting for the patent. But the basic descriptions are in the non-technical white paper we have on the website.
dedpull: OK. That’s fair enough, thank you.
danny: More of that will be shared later on of course.
dedpull: Sure. This is kind of in a similar technical vein, for a full technical white paper, is that going to be out around the time the patent is coming or after? How’s that going to work?
CCRevolution: Most of the information that’s in the patents is going to be what the white paper is going to be made up of.
dedpull: OK, so CCR is there a plan to get that out at the same time as the patent?
CCRevolution: We’ll see how it goes. Everything takes work.
dedpull: Sure. Chef this is a question for you I guess. Somebody’s asking about funding to run the marketing campaign once the product’s ready. How will that be funded?
chef: CCR do you want to comment on that at all?
CCRevolution: I’m sorry I missed that, I was focusing on something else.
dedpull: No problem. So basically we got a question about how our marketing campaign will be funded once the product’s ready.
CCRevolution: Well that’s part of what x-fuel is about. In fact I guess we might as well let the cat out of the bag, is that what you’re trying to tell me chef?
CCRevolution: Chef was just asking me about a donation fund and I don’t like that word donation… Anyway, anybody who was around about three months ago when we first released x-fuel, we started the PR campaigns and asked for the community to help out. All kinds of donations started coming in and everybody thought that’s what it was – a donation – and then we turned around and we redeemed everybody with x-fuel. And so this is what we’re going to be doing in the future – there is going to be an update sent out about this, but I’ll just give it really briefly here. I don’t want to be the only one here who has the ability to convert my bitcoin into x-fuel or my XBY into x-fuel, and be the only who has the privilege. Because that’s what I consider it to be. We’re going to be making it so anybody can help contribute to the different marketing things we’re going to be doing and lots of other aspects of fundraising that we need for different things to run the company. Everybody’s going to have the ability to contribute to that, and all the money that goes in is going to be paid back with x-fuel. That’s how it’s going to work.
chef: Just to clarify. It’s a community fund that will be reciprocated with x-fuel. I think right now it will be accepting, I think BTC is planned, ETH and XBY, correct CCR?
CCRevolution: And also Litecoin.
chef: And Litecoin, correct. So you have a lot of options there.
dedpull: Awesome. Just to reiterate that. They can donate XBY, Ethereum and Bitcoin, correct?
chef: And Litecoin.
dedpull: Oh and Litecoin too. And they will get an equal amount of x-fuel back in exchange.
chef: Correct. It will be in the calculator at the time of transfer obviously.
dedpull: And we can expect a document or something on that in the coming weeks?
chef: Yes. We actually have an announcement completely ready to go. It was kind of shifted because there were other (laughing) bigger announcements that were coming in. So we had to push that back so it didn’t get swamped over by other announcements. But yeah, we have a full community fund update coming. So people can expect that. I think the current schedule… within a week people will be able to read about that and get more information on how it’s going to work.
dedpull: Awesome. Will the be a cap on the amount of x-fuel that can be earned by donating.
CCRevolution: Yes, we’ll probably have to put a cap, I would say so. We’ll look at that.
dedpull: OK, great.
chef: It’s a good question though.
CCRevolution: Danny’s thrown up a question here, “why do we need an NDA if we have a patent?” Again, I can’t answer that. I don’t know the specifics and the legalities of all that stuff. So this is something that we’re going to have to find out later. The NDA is something that we’re working on, and will see where it’s needed.
dedpull: I know we’re still on the patent subject, and we’re beating it to death. But can you give us the specifics between now and the patent pending final draft? And in the patent that you had spoken about earlier, the one that Borz has drafted up almost… what you said I can’t remember. What’s in between then and actually submitting these patents for patent pending?
CCRevolution: Well nothing really. It’s just, the patents need to be submitted. And once they’re submitted and accepted, that’s patent pending. So at this point it’s just writing; getting everything done properly. The lawyer then takes it and professionalises it to the level it needs to be, with professional drawings and, that’s the process. So really it’s just time and effort. That’s what it comes down to.
dedpull: Alright great. I don’t think I’m missing any pressing questions here. Is there anything special planned for XTRABYTES one year anniversary?
CCRevolution: That’s a surprise.
chef: Yeah it is a surprise…. With ribbons and cake. (CCRevolution chuckling) And confetti.
CCRevolution: No, we don’t know. We’ll see. But that’s obviously a big milestone for us. So, we will put something together.
dedpull: Awesome. I’m not seeing any more questions. I’ll give people about a minute or two. It’s been a little bit over an hour, so if you want to ask any more questions, get them in. Otherwise we’ll look to close this first On the Pulse up, wrap it up.
dedpull: Closing question though, “why are you eXCITEd for the future of XTRABYTES?”
CCRevolution: That’s for me?
dedpull: I’m making you think! (laughing)
CCRevolution: Well, why am I eXCITEd about the future of XTRABYTES? It’s an odd question. Actually the reason why I’m acting like this is because it gets to a personal level. So, everybody has to understand that my background comes from a place where I’ve always helped people make money. That’s what I’ve done. I’ve been the guy, the kid that would help the old lady cross the street. I’ve always been a helpful person, that’s just who I am. And to have fallen into this, as I did, and if anyone doesn’t know the story I encourage you to go back to the front of the Bitcointalk forums and get the information from the beginning. Because it really is something that I fell into. And a lot of divine intervention and a lot of amazing signs have pointed the direction for me to stick with Borz. So for me it comes down to a real personal calling, for me. That in itself is something, when I see the success coming. For me this thing is hugely successful already. Not just because we’ve gone so far from the beginning of the satoshi value to where we are today, because of what I discussed 10-15 minutes ago. This is a company that has grown from the ashes. And people really need to understand that. And there’s something special about it. There’s something special about the community. The community has accepted what we’ve had to do to protect the company. Because it got to a point where it was in jeopardy, and it had to be pulled back, to protect it. The future of this company is success. Borzolom is someone who’s doing this not for the money. And most of you don’t even know this, but he doesn’t have very many coins. But he’s doing it because he started to do it. And he’s not going to quit. It’s because he doesn’t have very many XBY. So there’s a lot of things here that are very misunderstood out in the community. And it’s important to really, when people are questioning things, ask yourself “is that logical?”. Because we don’t do anything that’s not logical here. Everything is thought out carefully. For example, the registration of the company. People are trying to find out if our names are on it. Well of course not. If we’re not putting our names out why would we register somewhere where our names are open? Everything here is done properly, and we continue to do that. A lot of thought goes into everything because we want it to be hugely successful. I don’t know what else to say. To me it’s like a child. We’re here to make it successful. And a lot of people wonder what my role is. Well my role has been to build the team, to build the community. And I think I’ve done a fairly good job of encouraging people at the right times, and not saying things when I shouldn’t. And saying things when I should. Because, we started out with nobody believing in us. Other than a handful of people. And a lot of people have hated us and they will continue to hate us. Because, again, we’re disruptive. We are bringing a change to crypto. And it’s a very good change. So, to me it’s just fantastic to know where we’re heading. And to feel in my heart and soul, and knowing, because I see who Borzolom is. And knowing that we’re going to succeed. He will get this all done, and he will put it all together. And now we have the team on the outside that he needs to help him, starting to come together. So it’s only a matter of time.
dedpull: Yes, I think we can all agree on that. Well I think that’s a good note to end this on guys. I appreciate chef, danny and CCR for taking the time to answer some questions and go over some hot topics today. So with that, the XTRABYTES team is signing off. We’ll see you guys next month.
CCRevolution: Take care everybody. Have an awesome night. Thank you very much for listening and thanks again guys, you’re all awesome. Have a great night.