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141  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: January 24, 2017, 05:48:57 AM

On another note I am sure many people have had the opportunity to review the architecture of this new blockchain-less approach to the consensus algorithm.  Has anyone been able to find and articulate any potential security problems or shortfalls?



Yep, just a few of them:

1. Full node stores the whole DAG data which means it isn't that much more scalable in comparison to blockchain without blocksize limit (e.g. Monero). It has the same limitation related to hardware storage capacity and bandwidth.

2. Witnesses control the network. And they are only 12 of them. If they form a cartel they can start censor the network or do other malicious behavior. Getting rid of witnesses cartel is hard - the network needs to split which is called "schism". Read the whitepaper for more info.

3. Blackbyte are not fully anonymous. When you send them you reveal your IP to hub. TOR implementation is work on to mitigate the problem. Eventually (if implemented) blackbyte would be as anonymous as TOR is anonymous which is not 100%. Monero is much more anonymous.

4. Whitebyte are fully transparent just as bitcoin blockchain. You can check the senders holdings just by going to DAG explorer. There are no plans to make them less susceptible to analysis and therefore more fungible.

5. Data storing feature is very limited due to cost. It's basically just a little text storing feature. Take a look at my calculations to see why.

142  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: January 14, 2017, 01:19:49 PM
Do all existing byteball addresses will be granted bytes in the second round or we have to register them somewhere?
143  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [GBYTE] Byteball Speculation on: January 02, 2017, 04:00:29 AM
This tread is for speculation not whining about distribution.
144  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [GBYTE] Byteball Speculation on: January 01, 2017, 03:58:34 PM
We just reached 2 mln USD market cap.
Happy New Year!
The price is doing well today. 0.021 BTC/GBYTE.
HODL!
145  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: January 01, 2017, 07:46:17 AM
If this is the case you should be happy because it means cheap byteballs were available and were bought by other people and the distribution is now even less concentrated in a few whales hands.
146  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 29, 2016, 06:10:54 PM
Just got back home from holiday vacation and I am checking my lite wallet and I see not byteballs. So how and where do I redeem them?
What the history tab in your wallet says?
147  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [GBYTE] Byteball Speculation on: December 29, 2016, 07:11:30 AM
Now it's down to 0.01.
100 GB for grab for that price.
148  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [GBYTE] Byteball Speculation on: December 29, 2016, 12:13:23 AM
Thanks. I think it's gonna collapse further. I will wait until all byteballs are distributed before considering buying any.
149  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [GBYTE] Byteball Speculation on: December 28, 2016, 11:47:06 PM
Byteball now biggest 24h looser with -67.53% on coinmarketcap.com. Whales are drooping their coins.

The question regarding market cap depends on what happens after the whales have drooped their coins.

I don't see Byteball on coinmarketcap.com - where do you see it?
150  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 28, 2016, 06:01:09 PM
Is it possible to send livenet from testnet?
I sending said successful.But the livenet wallet is empty.  Huh Huh Huh
No, these two networks are incompatible.
151  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 28, 2016, 05:38:31 PM

0.0275 is a marketcap of around $ 2.5 million. So if u think, the byteball is a billion dollar market, so you know, where we stand!

Greetz
Steve

The price already collapsed to 0.0015 BTC. This is so miniscule market at the moment that wild swings are to be expected.
its 0.015 BTC at cryptox.pl
You're right. My mistake. My point is that it was just a few ours ago at 0.0275 which is nearly 50% drop.
152  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 28, 2016, 05:12:55 PM

0.0275 is a marketcap of around $ 2.5 million. So if u think, the byteball is a billion dollar market, so you know, where we stand!

Greetz
Steve

The price already collapsed to 0.0015 BTC. This is so miniscule market at the moment that wild swings are to be expected.
153  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 10:53:58 PM
I can run Bitcoin through Tor - does it make Bitcoin anonymous payment system? If that's really the case that you have to run Byteball throught Tor to make blackball anonymous it should be clarified. There's not a single word about it in the whitepaper.

Byteball whitepaper says nothing about being anonymous payment system. It allows private transactions. Privacy and anonymity are two different things.

The title of this topic contains the word "untraceable". How the hell is it untraceable if everybody is scattering around their ips whenever they pay. Cmon. It's just word twisting promising something that is not here. Get back to RingCT and Monero for privacy. Trumpeting your ip to whoever you pay is as private as a credit card with your name on it.

I think if you make private payment using blackbytes, your transactions will not be recorded in the database. If you make purchases using blackbytes, you can use the tor hub which hides all the IP info, so it is untraceable payments.
Then it should say "untraceable if you use Tor or other service to effectively hide your IP". But that doesn't sound appealing.
154  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 10:33:29 PM
I can run Bitcoin through Tor - does it make Bitcoin anonymous payment system? If that's really the case that you have to run Byteball throught Tor to make blackball anonymous it should be clarified. There's not a single word about it in the whitepaper.

Byteball whitepaper says nothing about being anonymous payment system. It allows private transactions. Privacy and anonymity are two different things.

The title of this topic contains the word "untraceable". How the hell is it untraceable if everybody is scattering around their ips whenever they pay. Cmon. It's just word twisting promising something that is not here. Get back to RingCT and Monero for privacy. Trumpeting your ip to whoever you pay is as private as a credit card with your name on it.
155  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 10:20:38 PM

Other than that, I edited my previous post. Was not allowed to post as I am new.

Is the witness list included in transaction and cannot be tampered with? 
I have no idea. The whole witness thing is a mystery to me. It actually looks like a potential vulnurability - have you seen the "schism" idea in the white paper? It's scary.
Schism?

Read the whitepaper but started skimming around the assets/bonds/funds talk - to economical for me.

Yeah, try CTRL+F "schism". When witnesses form a cartel and start to censor the chain or conduct other self interest behaviour the only way out of this is for the rest of the network to create other coin. Sounds like a fork. Nobody is talking about it because nobody has read the white paper.
156  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 10:06:35 PM

Other than that, I edited my previous post. Was not allowed to post as I am new.

Is the witness list included in transaction and cannot be tampered with?  
I have no idea. The whole witness thing is a mystery to me. It actually looks like a potential vulnurability - have you seen the "schism" idea in the white paper? It's scary.
157  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 09:59:48 PM
I can run Bitcoin through Tor - does it make Bitcoin anonymous payment system? If that's really the case that you have to run Byteball throught Tor to make blackball anonymous it should be clarified. There's not a single word about it in the whitepaper.
158  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 09:49:16 PM
Agreed. Encrypted messaging and transfer of value anonymously as byteball's best chance of success. It does those two very well

I wondered about this too Smiley To make a private transaction you need to first pair your device with your counterparty. Doesn't it reveal your ip?
You could do it over tor onion services or i2p hidden "eepsites" I guess?

Obviously but that doesn't sound like anonymous payments if I have to hide behind Tor to make it anonymous.
159  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 09:44:52 PM
Agreed. Encrypted messaging and transfer of value anonymously as byteball's best chance of success. It does those two very well

I wondered about this too Smiley To make a private transaction you need to first pair your device with your counterparty. Doesn't it reveal your ip?
160  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 09:32:28 PM
I wonder if it would be possible to modify the wallet, to have a list of witnesses, which are all owned by me.

Then sending transactions from my wallet to my other wallet.

The fees would end up with my witnesses? They would see it first, the would sign it.

Then my 12 witnesses would be modified to actually ask/pass on the transaction to the other real witnesses for confirmations. Eventually the transactions would be in the Main Chain, but the real witnesses would have no chance to collect the fee?

Would this work tonych?



No, the list of witnesses can't differ more than 1 from the rest of the network. (the White Paper - page 11)
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