MONEYBYTE WHITE PAPER
RELEASE JANUARY 2021
Where our normal money is struggling to stay healthy, cryptocurrency projects show that they are able to correct the errors and pitfalls of ordinary money and to develop a healthy money system.
The new money system, also called digital money, has a healthy economy.
The economy for digital currencies has grown exponentially in the past three years and Digital Currency (Cryptocurrencies) have emerged as the latest brave market in the trading world. This has led us to a modern way of investment with new, safe and transparent technology (Blockchain).
This technology (blockchain) also makes the digital money (currency) function. No more central parties needed for the money to function. Blockchain makes Digital money (cryptocurrencies) decentralized.
MoneyByte blockchain technology revolutionizes this new era of digital money and digital investment by aligning economic incentives in a decentralized community!
What is MoneyByte
MoneyByte is Next Generation digital money backed with its own blockchain. The MoneyByte blockchain is a decentralized blockchain powered by Proof of Stake and Masternodes.
MoneyByte is co-owned by the 2 administrators: Willem de Boer (Holland) and Pete Newland (England). They are assisted by a team of professionals. Developers, technicals and marketing. You can meet the full team at https://www.moneybyte.org/our-team/
Our Vision and Mission
We see our current monetary system malfunctioning, hence why we believe in the alternative monetary system. The system of digital money, cryptocurrencies.
Our vision is that this new system, this digital money, will fill the gap that is created by the malfunctioning of the monetary system.
Our mission is to let MoneyBytes jump into that gap and our two main goals within this mission are:
1. To position MoneyByte as a widely available digital currency
2. Position MoneyByte as a digital investment vehicle.
3. To be known as a transparent and open crypto currency
In the blockchain and cryptocurrency industry we want to become one of the most important providers in order to ultimately achieve our main goals (digital payment and digital investing)!
Our blockchain technology allows our coin to be used as a very fast transaction and payments facilitator. MoneyByte blockchain creates larger transaction capacity with a faster speed than other cryptocurrencies (for example Bitcoin or Litecoin). Also our blockchain delivers much lower transaction fees.
Although the main goals of MoneyByte are payments and investings, our blockchain technology has the possibility for storing value. Store of value requires fungibility, security, privacy, efficiency, low inflation and decentralization. MoneyByte blockchain delivers those.
MoneyByte increased the number of different hedged masternodes to 45 by December 2019. This produced an income of around $300 per week being distributed to MoneyByte investors each Sunday.
MoneyByte launched its POS service. MoneyByte investors, for the fee of 100 MON per year ($5$) could request any POS coin to be added. This removes the need for them to keep open and monitor there wallets 24/7
MoneyByte launched "hash rental". Hash power could be rented using MON to mine any POW coin. The "mining for MON" auto exchange facility continued to be well used.
The market cap open the year at $110,000 and ended at $359,000
The price open the year at $0.020 and ended at $0.061
The master node count over the year increased from 47 to 73
Staking rewards via POS equated to around 9% pa
Weekly podcasts continued to be held weekly and uploaded to youtube.
Continue to bring new masternode projects to the masternode hedge pools and add existing collateral to existing nodes.
The mix will range from speculate fledgling coins to established stable projects.
Build an option where investors can lend other coins to MoneyByte and receive rewards for doing so.
Acquire the skills to revamp the front end UI to be more appealing and informative to current and prospective investors.
Investigate the possibilities of also having an individual logon ID to view portfolios within the platform.
With individual logins an investor would be able to see their portfolio of MoneyByte investments rather than reviewing every option.
Continue to build facebook, discord, telegram, wechat, instagram, QQ, twitter and look for new mediums.
Currently we are focused on providing up to date information to our current community but need to expand this reach to new users.
Awareness of MoneyByte outside of our existing community has been limited and this requires more external focus.
Current users are very committed to the platform and make frequent use of the switching facilities. By broadening our marketing horizons we aim to attract new attention to the project, its options and hopefully investment.
Whilst the MoneyByte wallet and chain may not be the most advanced its features are stable and tried and tested. Users seek stability and functionality but we will continue to monitor blockchain, update, add and remove obsolete wallet features.
Build on the success of our auto exchange facility and hash rental. This market may see a revival following the recent rise of btc.
New entrants into the crypto space may not want to initially deposit FIAT but mine to produce coins. MoneyByte with its ability to auto exchange into MON and provide a regular income stream of other coins could be an ideal entry point.
This document is currently considered a draft, and while we make every effort to ensure that any material herein is accurate and up to date, it may not be exhaustive. It contains forward-looking statements and is likely subject to further changes without notice.
MoneyByte is not intended to constitute securities in any jurisdiction, and you may not acquire any if that conflicts with any laws in the jurisdiction or you are subject. This document is not meant as investment advice, and does not imply any elements of a contractual relationship. If you are in doubt please ask a professional for legal advice.
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