You want to buy some HIVE but you can't afford it? How about some free HIVE then? A...GBYTE story...

in LeoFinance3 months ago

AirdropImage3.jpg

Two years ago, one of the weirdest...most amateurish and at the same time easy to be gamed airdrop happened. Can you guess where? On Steem of course...

I've seen and also been part of many airdrops, but this particular one was...a joke, to put it nicely...

You see, project owners who want to attract more eyeballs on their project usually airdrop a few tokens. So did GBYTE. They chose Steem blockchain and decided to airdrop their tokens to Steem users which was a great idea.

Usually not everyone is eligible for the airdrops or at least there are a few requirements which make the whole procedure a pain in the ass for manipulators and abusers.

Not in that case tho...


And that's because they chose to airdrop their coins solely based on the reputation score of each STEEM account. Not their SP...not their activity...not the date they joined...NO...just their reputation score...

Feel free to laugh...


Obviously what they din't know is that if there's one thing that can be manipulated more than anything else is that very number. A number that is bound to the author rewards one has. To put it simple...If John and Mary created their accounts the exact same date and after a month John's author rewards are $500 while Mary's $50, then John's reputation score will be higher than Mary's.

So what they did was this:

Accounts with reputation score between 30 - 39 were eligible for x coins.
Accounts with reputation score between 40 - 49 were eligible for 2x coins.
Accounts with reputation score between 50 - 59 were eligible for 3x coins.
Accounts with reputation score between 60 - 69 were eligible for 4x coins.
And finally accounts with reputation score 70+ were eligible for 5x coins.

One could have immediate access to half of these coins through their Byteball wallet, while the remaining half would be locked for a year in a sub wallet.

And what's wrong with that strategy ffs?


What is wrong? Everything's wrong. If I create an account make a few shitposts and then bid bot the shit out of those posts my reputation score will climb to 60+ within hours. What the blockchain sees is that 7 days later my shitposts earned $300 each. It doesn't matter if I had spent the equivalent in STEEM or SBD or if I made a profit or even if I had a loss. And don't tell me about downvotes and such...There were no such things in 2018...Trust me I know.

The trending page was a circus. Full of bid boted posts that nobody was giving a shit about. Usually low quality posts...or even a single photo...with potential payouts hundreds of dollars. Sad...so sad.

Ya...OK...so why would manipulators even care about reputation scores and all that?


Still don't get it eh? To receive the GBYTE airdrop..many...many times...

There were cases where they created dozens of accounts and with the very same strategy I explained above they managed to have...dozens of accounts eligible for the airdrop that took place on July 16th 2018. If you still don't get it have a look at GBYTE's price back in the day...

20200910 20_44_12Obyte GBYTE price, charts, market cap, and other metrics _ CoinMarketCap.png

Yeah...that's $123. I think you get it now, right?

Anyway the reason I am writing these lines is to remind you that you might wanna visit your Byteball wallet...which is renamed to OBYTE and check if you have any GBYTE tokens in there.

That's what I did. Found my Byteball wallet sitting in a dark corner of my hard drive and decided to check it out. I had forgotten it even existed, let alone about possessing coins and such.

So double click on the wallet and I get this...

20200909 21_05_57Marky  Discord.png

A little bit of chit chat with @themarkymark who helped me understand what I should do next...downloaded the new version V3.2.0 and voila...

20200909 21_25_21Marky  Discord.png

260,660.000 bytes in my sub wallet and 261,000,000 in the small expenses wallet...worth approximately $11. I created an address on Bittrex and dumped them. The project seems dead to be honest even tho back in January 2018 its price was $1100. Nowadays 1 Gbyte = ~ $20.

Ps. You can't transfer the bytes from the sub wallet or "smart wallet" directly to an exchange. You must first transfer them to your main wallet or "small expenses wallet" and then to the exchange or else you'll keep getting this error..

20200909 21_47_10Obyte — smart payments.png

Long story short I sent all 561,000,000 bytes aka ~ 0.5 GBYTE to Bittrex successfully.

20200909 22_39_18Obyte — smart payments.png

What did I get with these $11?

62 HIVE of course! Not that bad...You may want to check your wallet...

Have a good one people.
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Cheers.

Posted Using LeoFinance

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I've though about them recently since I had three wallets to collect from but thought it wasn't worth the effort for a few bucks. Didn't expect them to be worth anything at all.
Might take another look but the project is well dead at this stage and would have to find my keys??? Still, $10 is $10.

Posted Using LeoFinance

Well, you know what they say about keys...

I forgot all about these tokens, let me see if I can claim mine thanks for the reminder

Posted Using LeoFinance Beta

You're welcome

The wallet keeps crashing on my mac any tips?

Posted Using LeoFinance Beta

Is it updated?

Yes I've updated to the latest version

No clue bud. I had no issues using my desktop. Any chance you could use a regular pc?

Posh

20200910 22_52_42mindtrap mindtrap11 _ Twitter.png

during the next mega-bull run I'm gonna have to find all my random crypto and cash out. There are exchanges I have accounts on that I haven't logged into for a year lol.

I even still have EOS from the initial ICO that I've never used or accessed in any way.

Posted Using LeoFinance

Same here, but it would only make sense to sell everything for fiat because $$$ wise everything will be up many times...

I hope you have done all the hoop jumping to get your Eos out of the original wallet, I left mine for ages too and it was a pain in the arse figuring it all out after everyone had done it ages ago!

Ah, I remember these! I sold all mine a while ago. It was a great air drop!! :0D

Hehe...sure, a great one. Wish I had a few more accounts then...like 500 more or something :P

Yeah that would have been great, I think I managed three!

Oh ffs am I the only stupid guy in the room? I've only used my main account. Shame really

Lol. You have integrity!! That's what matters! ;0)

Yeah that definitely was a really bad strategy, and don't forget about the referral system the contest had, if you sent like 500 bytes or so to someone else's wallet, which was the required amuont to send to the bot, they would be your referral and you got 50% of what they were getting as reward. So there was a lot of money being airdropped.

I remember I made almost $500 from referrals, and there were some people making thousands! And of course in no time there were bots scaning the byteball network looking for 500bytes transactions, so they would resend 500 bytes to the receiving address in order to become the referrers and get the reward (another flaw in the referral system, the last person to send the 500 became the referrer).

I checked some of this bots accounts and one of them made like $10k or something like that. Crazy times indeed! and really dumb strategy from the gbyte team.

Lol really? Didn't know any of these details. Oh my...

Sensational! This story reminded me of some cases that when BTC reached $ 1,000 many people went after their wallets and found out that they became millionaires.

2018 I was already at Steemit and I don't remember having this wallet ... Thank you and congratulations on this gift. It's not every day that we earn $ 11 hehehe ...

Posted Using LeoFinance

If you registered prior to 16 of July then you are eligible for the airdrop. You might wanna check again

Thanks for the tip, I'll check it out. Who knows I might have something :)

Posted Using LeoFinance Beta

Thanks for reminding me of this. Will check whether such wallet still exists in my device. Any way to reclaim account if you're using a new device?

Posted Using LeoFinance

I assume you can access your wallet from any device. As ling as you stored your keys somewhere

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