Bitcoin Downward Train? What is Bytecoin, Byteball, DigiByte and Bytom?

What the blazes? What’s going on here. We’re going in the wrong direction?

Excuse me miss! Where are we headed?

Down sir.

Down!? I didn’t sign up for this. We’re meant to be going to 5k. No, let me off right now.

I want off this train right now! Let me off!!

slap

Thank you. I needed that. I’m just going to sit down and hold.

• Finally, the markets are showing a bit of relief for people looking to get in on the action. This is more likely to happen on a weekend than a weekday for some reason. Now it’s not really advisable to time the market, and a popular method is dollar cost averaging, where you add to your position weekly or monthly that which you can afford to. Although this is not financial advice, some of these are looking pretty tasty. IOTA, OmiseGO, Lisk, NEO, some notable big names with big drops.
• With regards to NEO, although the official statements have not been published yet, regulators have deemed ICOs to be violating fundraising laws, a determination that could lead to harsh regulations on the blockchain use case.
• Bitcoin, down we go: Maybe we will see this go down further. From a personal financial stand point, I hope so. More opportunity to add to one’s position. Right now, we have a couple possibilities. $5000 bitcoin for some is a physiological barrier so they could set their sell orders. Or we could be seeing a price correction after growing so quickly. We doubled in price within 2 months, seeing around 5% growth a day. We’re still up around 65% from this time last month. We can afford to drop a lot more than we currently have and still be way up. However, relax, if we are looking really long term, as the popular saying goes, anything less than a $100,000 Bitcoin could be considered cheap one day.
• An official for Russia's national legislature believes that new laws regulating the exchange of cryptocurrencies will be complete by the end of the fall. The comments come amid a flurry of news out of Russia on the cryptocurrency front. The country's deputy finance minister, for example, said earlier this week that he thinks bitcoin trading should be restricted to qualified investors. The chief internet advisor to president Vladimir Putin, meanwhile, unveiled the formation of a new blockchain and cryptocurrency advocacy group earlier this week. Whatever they come up with, good or bad, it won’t stop Bitcoin growing.
• Bytecoin. Byteball. DigiByte. Bytom barely makes this list. There are other coins with the name byte, but these are some of the most popular.
• So Bytecoin, 3 years old. https://coinmarketcap.com/currencies/bytecoin-bcn/ 1/5th of a penny. Could still be considered very expensive due to its 184-billion-coin supply. Market cap of $415 million. https://bytecoin.org/ So a premise of 2-minute transactions which are fee-free. Pretty good, but I don’t see coins such as this surviving long term. Not that you couldn’t make money speculating mind, I’m not saying that. But will we have need for something like this with the lightning network?
• So Byteball. Less than a year old. https://coinmarketcap.com/currencies/byteball/ $387, due to the appearance of a pretty small supply of 1 million. Market cap of $203 million. The supply is actually much higher than that and has a similar system to IOTA with MIOTA, where the price of 1 gigabyte is what you see on coinmarketcap, but one gigabyte can be broken down into 1 billion bytes. They have an interesting distribution method, where holders of Bitcoin link their addresses via chatting to the chat bot and get one tenth of a gigabyte for every 16 Bitcoin someone holds. So, Bitcoin whales are getting a nice little treat. There is also 1 or 2 other coins which is also doing this. No miners, no blocks, low fees, fast confirmations, in app chat, p2p betting and a type of insurance offering. A interesting take on a crypto currency. However, the entire system is the work of a single semi-anonymous person. This is a big red flag. There’s no published roadmap or development plan. If using an oracle requires some level of trust, then it’s not clear why Byteball oracle-based contracts are any better than existing trust-based mechanisms for gambling and insurance. These things can be improved on but… How many of these alternate value transfer coins will be around in a few years’ time is dubious.
• DigiByte. https://coinmarketcap.com/currencies/digibyte/ 2 cents, $208 million-dollar market cap, 8.7 billion supplies. 3 years old. Another value transfer, but diversifying into supporting internet of things, and document storing. It encourages people to build ventures on top of its blockchain, as someone tried through DGB gaming, although that never really went anywhere.
• Bytom. Less than a year old, 12 cents, been declining for a long time now. $85 million-dollar market cap, 1.4 billion coins. My understanding from reading the WP is that any asset physical or financial could be recorded on bytom - car, house, stock etc. Those assets can then be traded, financialized etc its interoperable with other chains. It focuses on what blockchain is really good at - proving ownership and financializing assets.