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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: June 02, 2017, 07:04:36 AM
*Why I Stopped Using Cryptox.pl and You Should Too*

1. It's unreliable. Their website, bitcoin wallet, and Byteball wallet are all flaky.

I needed to sell some bytes for bitcoin one day and my deposit never showed up the entire day. So, essentially my coins were lost when I needed them the most. Of course the price also went down during that time, screwing me more. I contacted @grzem and he was just a total jerk, acting like what happened didn't matter, "and just wait longer" he said.

2. They're greedy. Less than .01 BTC (~$20) is considered dust and will be taken from you if it happens to hit your Cryptox account.

Bitcoin fees are getting crazy and everyone knows it (almost $2 now). So, I was using my Cryptox BTC address as the payout address from the Byteball chatbot exchange. So, when I sold bytes, the BTC would be sent directly to my Cryptox account, and I could buy more bytes. But on the chatbot, you don't control how much someone buys from your order, so small BTC transactions come out occasionally.

This morning I received some hostile emails from Cryptox staff, prolly grzem himself.

I asked for a URL link to their Terms of Service because I could not find it. They sent me a 1 word reply, "Information." Basically, their crappy site doesn't even have URL's so he cannot link me to one. Now I see that if you click Information in the sidebar (never even looked here because I was only interested in Byteball) and then Fees, then look at the chart Other Fees you will finally see something about BTC Deposit Minimum Transfer Amount .01.

Wait, what? Why would this be under Fees???

3. Now there are better, more trustworthy exchanges to trade bytes.

I'm going to switch to Bittrex and Cryptopia.

4. Did I mention Cryptox staff are jerks?

Ain't nobody got time for that.

My experience with cryptox was much better so far.
More than once, I helped them troubleshoot glitches in the wallet - not their fault.  Overall, their performance looks quite good for a combination of new coin and new exchange.  And I'm most grateful to cryptox for being first to believe and list us almost immediately after the launch.

I have to second Tony here; cryptox has worked excellent for me everytime I've used the site.
It has sort of a unique design but once you get used to it it's great; I love for example how you add an address for each coin and just select it to do a transfer. No need to double check the address every time. Many little things like that, also I actually really enjoy the sounds when your order has gone through or deposit has been confirmed. I can have another window open and just wait for the sound to check what has happened. Very user friendly.  Smiley
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: May 24, 2017, 11:08:01 AM


I have nothing against the concept of rich people getting richer, I just was thinking at which way could favour the best distribution and thus the adoption of the coin. It is true that whales would distribute their BTC between many addresses, but as I said, they would not waste their time in creating the THOUSANDS of addresses needed to store one BTC each, even if this could be done with automation (but to create an automate system still needs time and skills), so in the end even if whales distribute their BTC between some addresses they would still end up receiving proportionally less coins than the little holders, which means more coins available for more people.
And I also agree that the distribution also to holders of XRP and ETH and other altcoins would create mothers of all whales, and making the distribution process too complex, while the idea which I've suggested would be very easy to realize.


No, your idea would make it x10 more complex. Just imagine that you are newbie with 10 BTC and going into random altcoin thread (Byteball) and see: "you need to link your BTC address to get Bytes, go to transition bot bla bla bla (this process alone is too complicated for 90% of users), BUT if you want to receive more coins, you would need to split your BTC into 10 wallets and THEN you will get more". That's just shady. We don't need that.

On this point you are right, I agree. But on the other side there's the argument that the smartest people getting more coins doesn't sound too bad all things considered Smiley . Moreover, if the progressive decrease of the airdrop is very smooth, with 10 BTC in one address you wouldn't lose much, so that the Newbie could afford dismissing this complication entirely. But people with hundreds or thousands of BTCs are not newbies, and they being already very rich, many of them wouldn't probably go through the hassle of ditributing their BTCs on many addresses to get more Gigabytes. But I agree on your point that unnecessary complications should usually be avoided. So now on the theme I have conflicting opinions myself, the issue remains open to debate.

IMO Tony has a solid distribution scheme going on here. There's zero room for interpretation; x btc will grant you y bytes. Simple to understand and equal for everyone.

Less complexity = less room to question the fairness.
 
With your idea for example, while perhaps logical, people would first complain about Tony changing his mind. Changing conditions in the middle of the distribution is never optimal and easily leads to resentment. People would be annoyed that all of sudden you'd have to start splitting up your BTC to get as much as before. Also since it's not an actually hinderance but rather an extra layer of inconvenience it'll be viewed as just that. People would also call out the the move for being unfair; they'll say they didn't have time to do the splits, that they forgot or that they missed the sudden rule change. Tony would have a hard time motivating this decision when people come to him or post in this topic complaining. It'd be quite unnecessary for him to get heat over such a minor tweak in the system.

IMO the only way Tony could have minimized the gap between the ultra rich and the rest would have been to scan the blockchain ONCE. Then we at least wouldn't have the compounded interest issue. But then not nearly enough people would be able to participate. Perhaps only a fraction of the current user base. And one of the strengths of BB will be the size of the community. In fact one of the most interesting and successful crypto projects I've seen (and actually been a part of myself), NEM, started out by giving 2-3k people free stakes. Everyone including myself thought people would just dump everything since the stakes were free (or at most costed very very little for late participants). Well many did dump along the way but since so many participated a very strong and long lasting community was formed.

In the end I think the benefits of forming a large community will overweigh any issue people currently have over the distribution gaps.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: | ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake on: May 24, 2017, 07:19:58 AM
As a 100% Ardor investor I wonder how the value will be effected until the upcoming Ignis snapshot. I mean in terms of possible dilution. I think this is more interesting to consider than the value of NXT since I still do think Ardor represents NXT 2.0. Seems to me that Ardor is basically an evolution of the asset/currency system of NXT. It can't do everything NXT can but its children can (afaik)..plus more.

Have to say I think there's been some slight backpedaling going on since this topic was announced. I think this has actually caused some confusion. The title of the topic has changed to be more separated from NXT. It also seemed that Ardor was distributed 1:1 to all NXT holders so no current investor of NXT would feel left out (everyone got a piece of the pie). In light of this I can't help to think that Ardor would benefit if the community would give it full attention instead of possibly splitting it between it and its predecessor (I see no reason to, to be honest).
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: February 08, 2017, 10:46:50 AM
for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.

For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).

What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.

So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.
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