Yup - you can spend it after a year. The second condition is for safety - after 2 years, if people have still not moved their bytes from their wallets, we will start initiatives to inform people that they should get out the bytes. But a lot of users will have completed the attestations only to get some quick bytes and have uninstalled their wallets after selling their bytes. So to prevent a lot of bytes (more than 73,000 users attested) from being lost forever, there is that safety condition.
You can try it out yourself, actually. If you have a wallet with only 1 incoming utxo you can try to send two transactions from it without having to wait for the first transaction's return funds to become stable.
guys, a developer from China develops a web version wallet for Byteball (https://wallet.byteballtalk.com ), it is ready for tryout now, you can use it to create Byteball wallet, backup via keystore and mnemonic, receive bytes and send bytes, check status throuth Byteball explorer, welcome to try and appreciate feedback, for more detail you can read this post at our reddit channel: https://www.reddit.com/r/ByteBall/comments/ae58b4/new_byteball_web_wallet_released_by_community/
Do keep in mind, though, that by using a web-wallet, the control of the private key is effectively in the hands of the developer of the website. Therefore, users should use any web wallet understanding that risk. The developer isn't a Byteball core-team developer and thus, Byteball cannot guarantee safekeeping of users' funds.
I was just thinking 50 byte wallets are about $1,500 and of course 100 byte wallets are $3,000 .....for people who diversify into many coins I assumed that was about average for MOST of the wallets for Byteball
They operate in New Zealand and are regulated under that jurisdiction. They would be charged with theft if they seized customers' funds. I have a very hard time seeing that would ever happen. The coins they lost (we still don't know if Bytes where stolen or not) where customers' coins, and therefore it might not be possible to reimburse customers for that. But coins that wasn't stolen will still be in their wallet and once they re-open, customers will have legal ownership over those coins.
Right now, they have frozen all wallets which is definitely in everyone's best interest. We can only wait and see what happens. But right now, neither Cryptopia nor the New Zealand police and cyber crime unit has made any announcements about what exactly has been stolen.