Bitcoin Forum

 
Smart contract isn't something new, far from it. So many people has been learning solidity scripting language in the past years but the only time I was given the opportunity of using a smart contract, I didn't and saved myself from one of the biggest fiasco ever in crypto : the DAO.

Right now I just did a smart contract unexpectedly for a real use case and it went like :

https://i.imgur.com/2MOtfOD.png


That's it. I literally had no idea I was doing a smart contract if I wasn't told it's a smart contract.
I needed to trade with a total stranger on the Internet, the escrow wasn't available so we just did a smart contract through the chat box.

That's how smart contracts should works : for a real use without being aware you're doing a smart contract.

It's funny cause Ethereum is here since more than a year and i never be able to install the wallet

Yesterday i did my first transaction by smart contract, not with ETH but Byteball and i'm still shocked by the tech i don't know what to say. I think Superresistant summarized well

The best is that you try it by yourself

yea Etherum takes 1-2days to synch to network i wonder how long in year will be with Byteball over 2 years

I am considering investing on this altcoin but im still not sure since iamnotback addressed some valid concerns on the project and I want to invest in something long term not in something that has flaws and will have to deal with big problems in the future. I wish someone did a coin strong enough that it will not meet dead ends eventually but the question... this coin may not even exist. All coins may be cornered into hard forks and controversial situations in a long enough timeline.

You also know that I told you (and others in private) that Byteball might be one of the most intriguing of tiny marketcaps to speculate on. If they had given away Bytes to every Bitcoin HODLer, I expected a selloff. But instead apparently what they did is only distributed to a very few who bothered to show up on time, so the coins have been concentrated amongst for example ICONOMI got roughly 9% of all Byteball issued. So perhaps the selloff won't be forthcoming. I dunno because I haven't been following it in detailed study since.

Nothing is perfect. And they could potentially improve over time.

But the flaws I outlined are somewhat onerous, especially their transaction fee design appeared entirely unscalable to me unless they've since changed it or clarified something I didn't know.

---

@superresistant, seems what you are calling a "smart contract" could possibly be done with Bitcoin's scripting?

Don't get me wrong. I am not doing any investment advice.
I was doing my everyday business in investing and trading crypto and I've been really amazed with that easy smart contract on a chat window from Byteball's client.
I have no idea if Byteball is technically flawless and will exist in the future.

Take this as my opinion about what smart contracts (in general) should be : idiot-proof and damn simple.

Yeah that is why I said long term... sure short term it may pump and holders can make a killing, but yeah who knows what big holders will do when it pumps a bit.

I was also considering ICN for a short term pump when it was 4xx... luckily I didn't bite the bullet cause it's tanking. Never liked the idea of having to trust some random people to invest for me but fuck at least I expect a good short term pump reaching 1 dollar.. looks like I dodged another opportunity to lose bitcoins.

Byteball graph looking good, but ICN graph was also looking good... till it went downtrend. I think I may not risk it, but then again... ETF about to be decided, and now im worried about Jihan Wu antics too... maybe it is a good time to expose your BTCs to some risk.. taking decisions makes my head hurt, too many variables and I dont want to lose my hard earned BTC tbh.

@thejaytiesto, note I edited my post since you quoted it, to remove what might be construed as "investment advice".

I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.

However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.

I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.

What about Iota, the other (and first) DAG coin ? Lot of press at the moment

Looks good, mind blown might be a bit of an exaggeration, but using your own smart contracts is pretty cool.
I don't really see how I will personally use smart contracts, but banks and businesses could and should be doing it a lot.

Could this not be done using ETH? I know the wallet sucks, but I assume a simple smart contract would be possible there too.

You may be interested in my comment (https://bitcointalk.org/index.php?topic=1617816.msg18102409#msg18102409) about Byteball's smart contract language.

---

Start reading here (https://bitcointalk.org/index.php?topic=1799665.msg17946764#msg17946764).

I also wrote recently:

Smart Contracts are taking our jobs ! We need to make Byteball great again and give our jobs back to the fennec foxes.


Anyway congrats guys ! It's cool that we can now trade Blackbytes without having to trust someone.

Agreed, I triggered by the idea of this coin since the first time I read it, free distribution but the amount of bitcoin in everyone wallet which bothers me. I mean, who has huge amount get huge portion of byteball, a rich man becomes more richer. Byteball has taken second place of the higher exchange rate right now at $67.56, marvelous.

Byteball distro in round 1 was heavily beneficial for btc holders, but for all later rounds not so much. From round 2 onwards much better to use btc to buy byteball and get 10% compounding for all later rounds than link and get measly 62MB byteball. More than 12 more full moons to go, so distro creates BB demand, which creates higher return each round, which creates more BB demand etc As long as dev keeps to schedule BB can only go up.

bitbay is the superior choice.

eth is a scam but then ton of people already millionaire out of it

2000 lbs is roughly 12 (a dozen) people.

A noob friendly and easy to execute smart contract sounds great, I expect byteball will soon become the next big thing in crypto.

I repeat:



It usually helps to read before you spout off incorrect appraisals of what is.

If you aren't interested in accuracy of technical statements, then the altcoin speculation IQ becomes as follows:

https://i.imgur.com/ZlYZBON.jpg


The hype in the Subject title of this thread also seems to be ignoring the reality that some of these things were possible with Bitcoin's scripts, others with CounterParty (not that I think CP is secure), Ethereum, etc...


I understand you were saying that it was just there in the wallet by default and maybe your point is that to the extent this capability is possible in other systems, it hadn't been there for you by default when you needed it. But is that just aliasing (sampling) error rather than a fundamental advantage between comparable systems? Byteball fortuitously happened to have a script & protocol you wanted available in the wallet by default.

First sentence :



That is what is mind blowing, the user experience, not the technology.
I insisted enough on this.


I immediately noticed the use of a chatbot in byteball and I think that is visionary. I will let this video explain my view point on the matter :
Why Apps Won't Matter in the Future (https://www.youtube.com/watch?v=drXNPy23Xco)
(especially the part about chatbot)

Financial apps should be in the form of chatbot. It's already massively the case in China. Only the Occidental market ignore it but it's already here and huge.

As a bitcoin holder, how are you going to deal with the following days regarding the ETF? Looks like the price may tank. Im considering selling some in Poloniex using the USDT, wait a couple of days and rebuy back, i've seen a lot of people wanting to do this, this leads me to believe we may see a serious dip and I don't want to be the idiot watching the price tank, at least if I can profit from it I will feel better, since im sure it will recover im not worried long term but I need to make more BTC and this seems like a good opportunity. I doubt price will go any higher than $1200 before dump party begins.

Of course there is the possibility of ETF passing and the market going nuts about it and we may see $1300+... but odds are against that.

I'm new to this smart contract thing and I'm still in the learning process to fully understand it. It is quite satisfying that we have this kind of thing now and we can easily do it (according to the screenshot provided). I know that this has been available for us for quite some time now but I didn't put too much effort to take a loot at it back then.

If I had a verified account on Poloniex so I could trade to fiat, I would probably consider selling 20% as a hedge at some price north of $1250. I would not buy into altcoins because when Bitcoin's price declines, more money moves (https://bitcointalk.org/index.php?topic=1816209.msg18103073#msg18103073) from altcoins into Bitcoins to take advantage of the dip opportunity. So altcoins decline more on a percentage basis than Bitcoin. The time to buy altcoins is as Bitcoin starts to rise significantly, then altcoins go bonkers, but sell the altcoins before Bitcoin peaks. Note sentiment about the ETF event is perfectly balanced (https://bitcointalk.org/index.php?topic=1808198.0).

Yeah, it  wouldn't probably be safe to buy alts when BTC tanks cause BTC tends to drag most alts down too, that is why notice I mentioned USDT (Tether) which always has a 1:1 ratio with the USD dollar. Somehow it works, I have been following USDT price, and it is exactly like the dollar.

I don't have a verified account in Poloniex neither, so USDT seems like a good way to get the job done quick and anonymously. Of course, the risk is in the time exposed to the exchange (and USDT itself) for a couple of days until you wait for a good price to buy back in.

But yeah ETF could actually pass... even tho, I don't really see big reasons for TPTB to pass the ETF. Bitcoin is ultimately a banking disruptor and it sort of legitimizes it, it's like they are inviting an enemy as guest in their house. I don't know if im being clear with this. I mean I see bitcoin as something sort of anarchic and "outside of the system", so I dont see exactly how SEC would pass the ETF. Unless even if they hate bitcoin, they think they can control it better by having an ETF or something.

Anyway I should have sold hours ago, now im not sure if it will pump a bit again before the final decision or what.

Okay thanks for reiterating. My point was this wasn't clear from the Subject and the OP is not visible when viewing the list of threads. So the subject tends to give the a hype oriented impression that the smart contract language is somehow mind blowingly superior to everything that came before it.

For me, good user interfaces are not mind blowing. They are essential. Just because our development community isn't well attuned to the needs of users, doesn't mean to me that it is mind blowing when a developer does what he is supposed to do. But I guess from your perspective it is mind blowing compared to for example the alleged diurnal Easter egg hunt for a Monero official GUI (hey Monero supporters I'm oblivious about Monero's clients, as I've never used any of it so I am just regurgitating what I read on this forum).


Lol, I didn't even know you were having a textual chat conversation with an automated A.I. chatbot. I thought you were in a discussion with another user about how to escrow.

Does Byteball really have a text-based A.I. chatbot integrated into its client?

Btw, I really appreciate you linking to that YouTube, because it reaffirms one of the major strategies of my project. Let me state what that is by explaining what I disagree with in that video, even though I agree with the premise that users don't want the hassles of apps and that the app barrier to having an entirely open source mobile OS not controlled by any vendor (which is where I think we are headed).

The emergence of chatbots and voice assistants isn't an orthogonal choice to superapps, i.e. these can be a feature of a superapp structure. And superapps and chatbots aren't orthogonal to having millions of independent developers. Instead the superapp is the conceptual structure by which we make integration more efficient for users of all these, i.e. remove as many unnecessary pain points as possible whilst still giving users flexibility to plugin new features and activities. And enable to them to run every where with the same code.

Why do you think I am creating a new programming language that transpiles to JavaScript (i.e. it will run on any device with a browser control). I have very ambitious plans. A long-range objective of my project is to supercede (abstract away and replace) Android and iOS eventually (many years down the line).

No problem. It is so common for tech guys in general, especially devs to ignore the basic needs of the average Joe. Monero is a great example even though I understand that devs are working voluntarily on a new tech and they cannot afford to be distracted.



Yes that's the thing. There was an A.I. chatbot integrated into the client from the start for the distribution process and the smart contract was added recently.
Most people missed how smart it was in term of UI and flexibility.



That's the future IMO.

The issues raised by iamnotback are valid and curious, especially the ability to replace witnesses, despite the system as design allowing it, the question remans if people are social enough to coordinate with each other to actually do it, its easy to replace 1 witness, but if several are required to replace then it gets more difficult to organize people.

My bet is, yes, people will find ways to organize and remove bad witnesses, and that most witnesses wont collude for evil things, as they stand to gain from colluding but doing good things. If however they really do suck, the users will just leave and form a new network which is natural.

Do you think the transaction fees should be scaled? Instead of bytes per byte of data stored/used-by-database, it would be bytes per byte up to a limit of say 1000, then 2 bytes fee for each byte stored, then if the transaction or data to store is above 10 000 bytes, you would require to pay 3 bytes for each above that level? What is that kind of scale called?

That would discourage to use the Byteball network and database as a personal storage if the price of each byte is very low.

IOTA seems to rather address IoT companies and equipment and device manufacturers while Byteball rather addresses the ordinary user. From the beginning, the user friendliness of the Byteball client was great, which supports this assumption.

Nevertheless, both are great projects and investments in my view.

Just to clarify, the chat from the opening post is indeed between two human beings. The available bots are not integrated into the client per se, they are available for anyone to pair with. Pairing enables chatting.

Well, as I explained in other places here, IoT and Proof-of-Work (which Iota employs for some awkward reason) is an oxymoron, you cant expect an IoT device which is low on energy, low on CPU, low on memory and any other computing resources, to expend Work, to do transactions? Iota devs then said, but IoT devices will incorporate an extra chip of their design, extra hardware under development called Jinn, to do the PoW. But later also claimed IoT will not actually do PoW but only "sign" transactions for other nodes to validate. Its all very fancy talk, but so far only talk.

Byteball is better suited for IoT and actually works right now, and does not require PoW, or other random (actually based on random monte carlo run) consensus layer. All transactions are done by signing. Its all based on hashes, secp256k1, simple, elegant design.

is it kind of like a digital escrow? 

Yes, but it can do more than that too.

IMO, the world is not going to rely on a blockchain run by 12 witnesses (which will become centralized due to economic facts (http://truthcoin.info/blog/pow-cheapest/)) that can't be realistically changed except with a hardfork.

Byteball is an interesting "stability points" algorithm, but overall it isn't the solution. And the transaction fee scaling mechanism is totally broken.

Sorry those are the facts and I already communicated that on Byteball's main thread months ago in a discussion with Tony. I don't know what he has changed since then?


That is why the I feel the "mind blow" hype is misleading.

There is nothing minding blowing here. Just more of the same centralization failure. Well the concept of a DAG is mind blowing in the sense that it allows proof-of-publishing to be orthogonal to consensus finalization, which is one facet of increasing the TPS rate. But the Byteball "stability points" algorithm solution is incomplete. It hasn't solved the holistic problems entirely.

[/color][/b]

WRONG! you need to study up son.

More than that, byteball have really nice dev behind backing it and have totally new algorithm with smart contract capabilities. Waiting for byteball to get listed in bittrex and polo soon.

I have never done a smart contract but this is nice, this is the way technology it is supposed to work, technology must be seamless and this is the perfect example of that.

So smart contract is like an escrow without any person holding the funds, right? I've never heard about it before, sounds very cool. Is it possible to do that only with byteball and ethereum or with any currency? Can somebody explain in plain words how it works?
From what I read about it I understood that it requires a code written which has the conditions of the contract and the code makes it happen.
There is no site generating a code on your conditions, right?

The OP is a fucking idiot and he goes back into hiding every time i show his shitty past.
Like whack-a-mole  :D

3 strikes your out bud.

1 - Fervent maniacal retard MemoryCoin shill Super defender.. even after it was proven to be scam.

2 - Idiot Monero cult member.

3 - Take your pick ..he's an idiot and at greedy one at that.

Smart contracts ? ooooooh fuckin' boy !

TAKE MY MONEY NOW !!111

I hope some of the Investarded out there get hit by a bus.
Worthless brain dead morons just mulling around kicking the can looking for an "investment"
In ?
What ever the fuck will pay out of course.

spoetnik

1 - Fervent maniacal  dash/darkcoin shill Super defender.. even after it was proven to be scam. AND HE CALLED IT HIMSELF A ULTRA SCAM

2 - Idiot DASH cult member.

3 - proabably got bought out by dash and is on the pay roll.


YES you lost the ability to lecture anyone on anything like this now you have been caught out doing the same thing.

This will continue until you confess dash is a scam.

Friendly suggestion is you've made your point. You are not going to be able to corner Spoetnik on this one. I don't think he is complicit with Dash's pump. I think he just hates Monero and Ethereum so much that he can cheer Dash, because it is all about his ego. He picked a fight with Monero and he doesn't want to lose that fight. Spoetnik is here for his ego. He got upset with me lately because I threatening his ego on the forum, when I abandoned any plans of an ICO and I was being logical about Dash and Monero.

He is not coming off ignore, but I see no need to berate him. You made your point loud and clear in numerous threads. Just a suggestion. You don't want people to look down on you for over playing your point.

Suggestion taken but I think he needs to be stopped at once. He can not berate others whilst doing the same thing. When he stops then I shall stop.

How can anyone know what he is complicit with. I think it makes perfect sense now that I notice that he posted a thread for his services to be for sale.

This monero angle is a red herring. Nobody would be on every single anti dash thread cheering it on and protecting it and refusing to call it a scam like he did before without some other reason.

Not be able to corner him? in what way exactly? a 180 degree change of heart with no explanation right after a thread offering his services for sale is enough to raise questions.

When he stops protecting dash in every thread and explain his 180 then this will stop being highlighted.

Whole lotta berating going on. I guess we all ran out of other more important things to do. Any way, I have important things to do, so I'll stop discussing this.

I guess you didn't find the link that you were supposed to find:

http://coinmarketcap.com/charts/#btc-percentage

Study it son.

Bitcoin declined, altcoins declined more on a percentage basis. Yet another correct prediction of mine. Apparently not yet a rush from altcoins to BTC though, and apparently into cash because the ETF event hasn't occurred yet.

son, stop posting and learn to read charts instead

Point out an error or you are just blowing smoke out of your ass.

ive been trading for 5 years and know what im talking about. now go and study

Any one can claim that. You've not pointed out any error. Appeals to authority are highly frowned on in a meritocracy. Point out an error or accept your asshat.

You are fucking wasting everyone's time with your numerous diversionary posts.

Don't get mad and frustrated son when you fail. Try to learn that if you can dish out accusations, then you need to be able to back them up with facts.

https://i.imgur.com/tesrLC3.jpg

I know this is what this will turn to, my father's farm is bigger than yours. It is good to execute smart contract on Byteball but the issue with this is that can you scale it and make it work for large number of people, this time last year Bitcoin is not having unconfirmed transaction issue but today it is a big problem for users

you really are retarded. i see you havent studied.

im finished with you, time for you to go to the little room in school we all called the retard room.

dont forget your backpack from mommy when you get on the short bus...what a loser you are.

no doubt that bitbay is the superior choice.

Sorry to throw cold water on this...
But it was just a transfer based on one condition (hardly a "smart contract")...
In reality, "smart contracts" that matter are as complex and error-prone as any turing complete language.

Average users are gonna roll their own "smart contracts"...
The way ordinary people are gonna fly jet planes...
Saying, oh wow, that was easy... until you slam into the side of a mountain.

And this is not a shot at Mr. Top Hat...
He was smart to make a killing on the NXT ICO and has been a classy alt player since  :)

Back to GBYTE, fully diluted it's really valued at around $65,000,000...
Quite expensive for an experimantal DAG that's super centralized around a few coders is Moscow.

Mr. Charlie is now on permanent, irrevocable ignore (meaning I can no longer see his posts) for trolling ad hominem and making accusations and refusing to provide any proof or even explain what specific error he is alleging.

My current Ignore list (only 3 are recently added):


iCEBREAKER
Spoetnik
John999
s1gs3gv
Momimaus
sloanf
freshman777
HugoStone
Mr.Charlie

I agree, byteball is one of a kind cryptocurrency compared to other coins, I have seen a lot of potential to this coins very easy to use wallet everything seems perfect even buying, life makes easier with bots only the explorer seems hard for me to understand.

c'est formifable..vivement que l'integration se fasse dans toutes les interface..on peu imaginé un monde sans scammer ni escrow maintenant grace à cela..par contre il faut que la technologie suive..même les biens tangibles peuvent être sécurisé grace aux contrat   8)

That is the point! Byteball is a big project.

dont listen to imnotback ffs

That was thrilling when I saw it on their site. 

BB has:
easy to use wallet and app
apparently solid development
unique (semi) fair distribution method
smart contracts that normal people can use
high privacy transaction option
and now oracle/prediction markets

Of all the big currencies around they've basically taken the best from each, added a unique consensus method, and are off to the races.

wow. this is very interesting indeed. I appreciate the ability to perform smart contracts via a chat app. That is the way it should be, simple and relateable by the average person. Good work :)

This coin is marvelous, I wonder why there are not many people get into this coin. There are about 6 or 7 distributions left and I will definitely join to earn free byteball aka ggb

There are more than 570000 BTC linked now, people become more and more. And 2/3 of GB still have to be distributed !

Very interesting project as you say didnt know there were 2/3 left to be distributed still.

You've probably heard about the Parity multi-sig smart-contract hack ? https://blog.aeternity.com/parity-multisig-wallet-hack-47cc507d964d
Even if the devs are honests, they can still do big mistake...
This shows how the Byteball smart-contracting approach is pertinent, by offering simple contracts definition that people can review themself, they don't have to trust any devs.

I think this is really cool. Is there more exciting news about Byteball?
Obviously the price has never recovered. I remember $800-$900.
Now we're at only $466

In light wallet smart contract working?

Don't forget that bytes holders get 20% more coins at each distribution, this almost compensates the price drop. In a crypto market going down in overall that's not so bad.
The exciting news about Byteball is that it works without flaws as described in white paper and it's given for free. This is not the usual get-rich-quick ICO scheme, don't expect it to be pumped with bullshit news. I expect rather a slow grow sustained by people technically minded (they are a lot on Byteball Slack) until someone launches a killer smart-contract that becomes viral spreaded by P2P.


Yes light wallets are enough for everyday uses.

Exciting story  ;)
A very special coin indeed... https://www.reddit.com/r/ByteBall/comments/7mxofd/why_im_not_touching_byteball_at_the_moment/dub980h/

If you’re on Reddit and want to try the Byteball wallet, let me show you how to get some Bytes:

https://www.reddit.com/r/ByteBall/comments/7wusjm/want_to_try_out_byteball_free_bytes_for_new_users/?sort=new

 :D  :D  :D

I'd check out this article about Quantstamp if you want to learn more about smart contracts. They have some good ideas for the future of smart contracts and how to make them more secure. https://medium.com/quantstamp/quantstamp-innovation-from-y-combinator-to-beyond-f8a72de35cfe