GoByte (GBX) in a nutshell – Everything you need to know

Finally, we have a new coin that will be here for many years. GoByte (GBX) will for sure have a long and bright future.

GBX logo

Today we are living the days when history is written. BTC is traded at 16,000 USD. Most of the alternative coins are in red and traded with losses comparing to BTC. Some of them are resisting and few of them are in green. GoByte (GBX) got my attention as a coin with very profitable Master nodes, solid trading volume (for its age) and trading price in a steady uptrend.

GoByte (GBX) is a new cryptocurrency based on Dash which is also great cryptocurrency and a good foundation for a new fork. GoByte (GBX) has all the features that are needed for a good coin today:

InstantSend (offers instant transactions without having to wait for long block confirmations)
PrivateSend (blur and obscure the sender of a transaction, making it fully anonymous)
Secure (provided by mining and Master nodes)

Coin specification

Mining

The Neoscript algorithm is ASIC-resistant and it is GPU friendly. Dark Gravity Wave is a difficulty-adjusting algorithm which adjusts the difficulty levels every block. In this way block, issuing times can remain consistent, despite the high fluctuations in hash power. It is even possible that some of the Ethereum (ETH) miners switch their hash power towards GoByte (GBX) when ETH becomes 100% POS. Because of that, it would be a smart choice to mine as much of GoByte (GBX) as possible while difficulty and hash rates are still low.

Estimated time for each block is 150 seconds. Block reward of 15 GBX will be shared (50%) between the miner and Master node. Each will get 7.5 GBX. Block reward will be reduced by 8.333% per year. That will make GoByte (GBX) profitable coin for a longer period and it will gradually increase coin price as block reward gets reduced. That brings a very good balance of block reward and coin reduction per year.

The number of pools for mining GoByte (GBX) is increasing almost on a daily basis. In the last 10 days, Network hash rate is increased from 12.7535 GH/s to 25.8096 GH/s. Which means that more and more miners are seeing this coin as a profitable opportunity. Miners are not selling all of the mined coins, they see potential in GoByte (GBX) for a better price and more profit. That is a good thing as the market is not flooded with a very large number of mined coins and it will also help to increase the value even more.

Here is one table that shows the estimated number of coins per year with approximation, time for each block is 150 seconds.

Block rewards per years

With these rewards, you can see that after 8 years, Total supply will be around 22 millions, which is little bit over half of the estimated total coin supply. Later on, a number of coins in block reward will be less and less. And that will make sure that GoByte (GBX) will be a mineable coin for many, many years.

GoByte (GBX) is listed on https://crypto-coinz.net/crypto-calculator and you can calculate profitability for your GPU. Coin will also be listed on https://whattomine.com

Master nodes

Probably you all have read hundreds Master node coin reviews with promising high profit, right? Well, I'm usually one of the sceptical bystanders that sit on the sideline and watches people buying the Master nodes too late. For this coin, I think that it is still not too late to invest in Master node.

Master nodes are now a popular way to invest in alternative coins. By holding a Master node you are taking an amount of that coin out of circulation, this helps to increase demand by reducing the supply. Holding a Master node benefits the investors and the security of the GoByte (GBX) network. Early adopters will find that they are getting more profit in the beginning since there are fewer Master nodes and the Master node will be rewarded more often. But, if you invest in a Master node at the peak price, the chance you’ll get a decent return on investment can be bleak if the price drops. So everyone should do a research and be careful when to invest in Master nodes.

GoByte (GBX) Master node will get 50% of block reward. In the first year that will be 7.5 GBX per block. Now please take a look at the table above. 50% of Total supply will go to all Master node owners. Of course, it will be distributed and each one will get less as the number of nodes increases. Nevertheless, the reward for each Master node should repay it over time. Especially now, estimated ROI (Return On Investment) is 30 days. I don't want to foresee for how long will ROI be so quick. I just must admit that it is really respectable and you simply wish to own one.

Few numbers about Master node profitability based on the current price on the Cryptopia and with the current number of 170 Master nodes on the network:

GoByte (GBX) price: 0.00174981 BTC (29.07 USD)
Master node price: 29.700 USD
Daily profit: 680 USD
Weekly profit: 4,772 USD
Monthly profit: 20,453 USD
Yearly profit: 248,846 USD

These numbers are amazing! Even if the number of Master nodes start to increase faster (no very likely), Master node return will still be still high (very likely). I don't see a bad moment to invest in this coin.

Circulating supply today is around 149,270 GBX and with a total number of 170 of Master nodes on the network 170,000 GBX is locked in the Master node. Which leaves only 20,730 for trades and in people wallets. This is a very good base for a very high demand/supply ratio.

Approximated Master node profitability calculation can be made.

Block time 150 seconds (15 GBX)
24 blocks per hour (360 GBX)
576 blocks per day (8640 GBX)
50% of block reward will go to MN owners (4320 GBX)
Coin price will be fixed for this estimation at 30 USD
Looking at the past, 4-5 Master nodes were added per day. For this example 5 will be added.

Master nodes

If price does not increase in next 100 days GoByte (GBX) Master node will still be very profitable. If Master nodes gets added in more number to the network, they will still be profitable. And bellow in trading chapter where you will see that price has uptrend and it is increasing daily. Which means that GoByte (GBX) Master nodes will have bright and profitable future.

Here are the few links where you can see and follow Master node statistics and profitability.

GoByte (GBX) will also be added to a Master node App mobile application, where you can monitor your Master nodes and receive notifications.

Trading

From day one GoByte (GBX) had a high price and it didn't oscillate too much. Most of the time price was in the uptrend. And that is good a sign for the future. If you are familiar with stock trades you will read this graph (provided by Coinmarketcap) in a positive way. The coin has a stable and continuous growth.

Coinmarketcap

Currently, GoByte (GBX) can be traded on few exchanges:

https://coinsmarkets.com/trade-BTC-GBX.htm
https://stocks.exchange/trade/GBX/BTC
https://www.cryptopia.co.nz/Exchange/?market=GBX_BTC
https://www.coinexchange.io/market/GBX/BTC
Next should be: Yobit, Binance and BitZ

Most of the trading volume (28 BTC, 92 %) is coming from Cryptopia. By trading volume GoByte (GBX) is at the top 10 on Cryptopia. That is good for spreading GoByte (GBX) awareness among other traders. And what is also important, GoByte (GBX) is most of the days traded in the green.

For price comparison, you can visit https://www.cryptocompare.com/coins/gbx/overview site.

Team

1 Founder, 3 Co-Founders, 1 Developer & 1 IT Security are presented to the community in the Discord meet-the-team channel.

I must notice three things.

First one is that you can see that good plan was made before the coin was created. And that effort is awarded with remarkable price.

Second, communication with the community is really good and responsive. Either on the Bitcointalk ANN thread or on the Discord. Twitter and Facebook channels are always up to date and new announcements are regularly posted. I would really advise everyone to join the Discord and follow announcements.

Third, developers are doing a very good job. Wallets are released for:

Windows (32/64)
Linux
Mac OS (latest version)
Raspberry Pi

Android, IOS and Web wallets are under development.

Future

The roadmap is not yet published, but GoByte team has big plans and ambitions and I like them all.

Atomic Swap - Planning to support it.
GoBytePay - Planning to apply for a VISA license, the cardholder can use GBX to pay at any VISA point, with a plastic or Virtual card. Difficult to accomplish, but not impossible. Planning to meet lawyers and building the project in the best way for being able to set this up as fast as possible.
SegWit will have to be supported for VISA integration.
Negotiating with one manufacturer of SHA256 ASIC miners. Planning to make an agreement for an option to purchase miner only with GoByte (GBX) coins.

There are more plans that can be listed here, but it is better that GoByte team announce that in their roadmap.

Additional Information

If you would like to know more about the coin, these links are the most important to start with.

Official web site: https://www.gobyte.network
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2442185.0
GitHub: https://github.com/gobytecoin/gobyte
Discord channel: http://discord.gobyte.network/
Twitter: https://twitter.com/gobytenetwor
Facebook: https://www.facebook.com/gobytenetwork
Reddit: https://reddit.com/r/gobyte
Coinmarketcap: https://coinmarketcap.com/currencies/gobyte

Pre-mine was used in the beginning for initial selling of Master nodes and for Twitter airdrops. Money collected from selling was used for listing coins on exchanges and on development.
Currently, the Bitcointalk forum signature campaign is alive. It will last until the end of December and it is one of the most profitable signature campaigns today. With current GoByte (GBX) price it is possible to get coins worth between 230 and 930 USD in one month, depending on Bitcointalk profile rank.

GoByte (GBX) is listed on main sites for tracking Master node statistics (links are provided above).
For those who like to have an easy overview of their portfolio, GoByte (BGX) is also listed in Blockfolio mobile application and https://coinhodler.io

Conclusion

GoByte (GBX) has achieved impressive things in a very short period of time. Some coins are struggling to be listed on Cryptopia after several months and GoByte (GBX) did it in 2 weeks. In that short period, they will have their product (SHA256 miner) and have plans to have met with VISA for licenses. After they hit bigger exchanges price can only rise, which is doing most of the time. There is no reason for the price to go down because GoByte (GBX) is in the hand of the skilled and devoted team.

This should not be taken as financial advice and is intended for informational purposes only. Please do all the necessary research before you invest your money.