Let's take a look at Madbyte
The cryptocurrency called Madbyte was created in early 2017 and was basically a clone of Litecoin with halving/reward/timing parameters changed (like many smaller alt-coins are). It has 1 minute block time with retargeting every 270 blocks, mining reward halving every 1,200,000 blocks and a max limit of 270,000,000 coins. So why bother with this coin, it’s just another in a long list of useless alt-coins, right? Well, perhaps, but I am the one who created it so I have a special interest. I created the coin for my cousin and long-time on-again/off-again business partner, Sam. The main idea was to create a cryptocurrency investment and trading platform and use Madbyte coin as a way to gain access to the system. The investment portal is located at https://madcapx.com. If you wish to request membership, please use my referral link. We currently have a little over 80 members with Madbyte holdings.
Madbyte coin has been listed on a number of smaller exchanges (most of which have disappeared) in its lifetime but currently only resides on https://novaexchange.com and https://bisq.network. NovaExchange has recently banned Canadian accounts (as they did with American accounts a while back) which really sucks for me as I’m Canadian. Bisq, a decentralized exchange, is too complicated to use for most people so unfortunately, that platform has not seen any trading happening for Madbyte.
The MadCapX portal lets you specify wallet addresses where you hold Madbyte coin and our system compensates you with more Madbyte every month that you keep holding. Also, you can set up a node and list the IP address in our portal to gain extra rewards. There is a coinfield game, which acts as our faucet, for getting some free Madbyte coins every day. All rewards in the MadCapX portal currently come from a premine of 30 million coins. It is our way of distributing the coin, rather than just miners getting it all.
The portion we are still working on is the investment/trading system called MadFolio. You enter your Binance API keys and deposit some BTC in your Binance account. There will be a few better traders in our system that have set up “triggers”, which other members will be able to subscribe to according to a percentage that they specify. For example, assume there is a member named TraderGuy. TraderGuy creates a trigger. You can subscribe to TraderGuy’s trigger at 10%. Every time TraderGuy makes a trade, your Binance account will automatically make the same trade using 10% of your currently available BTC total. It will also automatically sell when TraderGuy sells. This system is still being worked on and only a few members currently have access to the beta.
By the time Madbyte was up and running, coinmarketcap.com had already started rejecting any smaller coins that did not have decent trading volumes on a known exchange. We did get listed on https://www.coingecko.com which is nice.
Madbyte and MadCapX are long term projects for me and I do not expect any significant short term income from them but the learning and experience are at least worth it. And who knows, someday it might pay off for me in a big way. If you hold any Madbyte, remember to request membership to stay up-to-date with developments. Also, join us in discussions on our Discord server. I’m cryptocronic#7690.