I did some math for obyte lottery, please correct me if i wrong
Alisa bought 100 GB for $3.5k
lottery total fish points 2829. Alisa points: 10 for KYC, 9 for 90 GB
lottery total whale points 79454. Alisa points: 100 for 100 GB
52 draws per year. Winner gets 100 GB ($3.5k) and 211.11 GBB ($200)
Chances of winning over time:
1 year - 34,03% (1 of 52 draws)
2 year - 56,47% (1 of 104)
5 year - 87,50% (1 of 154)
So expected 1 year ROI is 36%. "(3.5 + 0.2) * 34,03% / 3.5". (given that the future is unknown and the price can both go up and fall, it is logical to take into account the current price)
*Given the past behavior of the team, there is good reason to believe that the rules will change or the lottery will be canceled.
*Only 12% of available supply participate in the lottery
*Strategy can be optimized by KYCing your poor friends. It also means that if you do not have poor friends, then your chances will decrease if other participants have such friends.
Yes, rules can change if needed, but not because past behaviour, but also because it was said so in announcement post. Price will change during one year and amount of people participating changes also during that time. But it is still lottery with random winner (with an exception that you don't lose your stake), so points and balance doesn't guarantee a win. |
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The demands were clear and well-founded: Byteball, Bytes and Blackbytes must disappear as terms.
Now we have Zero-Bytes and still "Bytes" as currency term. Completely imbecile.
Not the critics of this project are the problem, but submissive opportunists.
Whose demands? Your demands? Nobody cares about your demands. You have zero credibility. People in crypto are weird bunch, they criticise a coin and demand stuff and then sh!t-talk even more because people ignore them. I think IOTA is shitty coin, but I don't go harass them about it. I focus on good projects. |
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No matter what you babble. The first impression counts. And it reads: Zero-Byte
No matter what Obyte does, you will not like it. Haters gonna hate. |
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So it only took Byteball two years to listen to its earliest users about a name change. Now they have gone from a ridiculously bad name to a neutral bad name. I agree Obyte sounds and looks kinda empty and void (0byte), something an overpriced marketing agency would suggest, oh maybe they did. I get no positive vibe from it, but at least no negative anymore. My prediction for 2019 is this: Now 0byte can spend its time trying to get back its userbase from early 2017, which was kicked so often into their 0s by this project that everyone left long ago. Tony will continue to make features that noone asked for, although he seems to have slowed down, which is a pity because blockchain tech has evolved and 0byte is lagging behind. See you in a year! See below my old 2018 prediction, I would not have thought that a drop out of the top100 is possible, I remember the days when it approached the top20, but so is crypto. Byteball was the most disappointing crypto of 2017, it failed due to bad management. Its sad to see that this will continue in 2018. I exited my position when I finally realized that this is not a community driven coin at all, but by one person.
The idea behind Byteball was to bootstrap a large community by means of clever distribution. But no community formed because of the way it was/is handled. Tony doesnt realize this at all, that is the worrying part. The community is just a number count for him.
Users cry for a rebrand/unit change? Users propose a new website for free? Users want to help in developing new features? Users ask for new features? Users have critique? Ignore them all, that is Byteball.
Meanwhile he will continue to develop new features that noone asked for, throw them at us and then disappear again to build new features. There will be no dialogue, no information, no roadmap. No money will be spend on rebrands or advertising or anything like that. In a year Byteball will have a zillion features but noone will know about it or care.
There might be new awkward distribution methods, maybe a surprise partnership with a totally unknown small russian business. That might be enough to stay in Top100, but forget about ever reaching IOTA or Raiblocks levels, that is a totally different management league.
Maybe the problem is you, maybe don't shit-talk a coin and actually use the name like it is indented, it's not 0byte, it's O byte or Obyte. I have contributed to Obyte code now almost for a year and I don't see the problems that you describe. So, the problem must be in you. If you have lost all hope in this coin and sold you coins, why are you still here? Nobody needs you pessimistic predictions, you are not helping. |
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Whoa, so can someone walk me through how this new name was chosen?
I am glad "ball" was taken out of the name. rofl. But what does the "O" stand for now?
How is this still mystery? Once a unit is broadcast into the network, and other users start building their units on top of it (referencing it as parent), the number of secondary revisions required to edit this unit hence grows like a snowball. That’s why we call this design Byteball (our snowflakes are bytes of data). ~ https://obyte.org/Byteball.pdfAlso, checkout Chapter 9. (Balls) and Chapter 10. (Last ball) in whitepaper. There is no central entity that stores and processes all the payments. Instead, transactions created by users are cryptographically linked to each other, and once you add your new transaction, other users start adding theirs on top of yours, and the number of other transactions that link to your transaction grows like snowball (that's why the O in our name). ~ https://obyte.orgSo, basically, the O stands for a snowball that is made of bytes. |
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If you do the vote then you get names like Crypto McCryproface (google Boaty McBoatface - if you didn't get the reference).
But such name wouldn't win in the voting process. I don't think that the majority of the community would vote for such a stupid name. That's the point of voting - get rid of bad things that people don't like and see what people like. What do you mean, wouldn't win? Stupid shit wins regularly on public votes. Trump won, Brexit won. Boaty McBoatface won. https://en.wikipedia.org/wiki/Boaty_McBoatfaceThe first thing that I thought about when seeing "Obyte" was: "What "O" stands for? Many people will ask themselves this question and nobody will have the answer because it apparently doesn't mean anything.
You think that O was picked randomly and added in front of byte? Did you even read the announcement? Do you even know why this project was called Byteball in the first place? Have you ever even read what is on the website? Kind of difficult to take you seriously when you still haven't figured it out. There is no central entity that stores and processes all the payments. Instead, transactions created by users are cryptographically linked to each other, and once you add your new transaction, other users start adding theirs on top of yours, and the number of other transactions that link to your transaction grows like snowball (that's why the O in our name). |
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Honestly I'm not impressed because of this obsession with "byte" name. It would be better to come up with a more original name. This "byte" thing is pretty popular word and a number of cryptocurrencies already use it:     And now Obyte is supposed to catch people's attention? Nah. The project is run too much like a company with Tony as CEO hiring some people for some positions and all important decisions are made with no feedback from community whatsoever. It's all behind the scenes during "board meetings" and community is just graciously struck with a "decision". How about doing it this way: Hey,
Dear Byteball Community, we listened to your suggestions and want to rebrand the project with a new name. Please give your proposition and we will put the most promising to a vote. Byteball is cool and we can have voting via bot. After voting is completed we will decide the new name based on your votes and our preference. Wouldn't that be a cool way to do it? Of course it would be. But instead we have this kind of "I'm in charge and I will decide" way of doing things. And here we are with another "Byte" cryptocurrency... Same can be said about all the cryptocurrencies with Bit in the name. I haven't looked into your examples, but you seem to forget that byte is a core thing about this platform and it is not part of the name just for fun or to be cool like other kids on the block. Haters gonna hate, no matter what you do. If you do the vote then you get names like Crypto McCryproface (google Boaty McBoatface - if you didn't get the reference). |
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I like Obyte. Nice rebranding IMO. There is currently a discussion on Reddit on the idea of Blackbytes being rebranded as well. https://www.reddit.com/r/obyte/comments/ah97m5/rebranding_rebranding/As I've stated there, I like Blackbytes as a name, so I'd rather keep it. However if the team should decide to rebrand Blackbytes too, perhaps in the fear that "black" bytes could eventually be associated to black market, I’d suggest to perhaps go for Pbytes - Private Bytes, especially as P is the next alphabet letter after O - so we’d have Obytes and Pbytes. Still, I prefer Blackbytes. Pee bites. Also, the token has not been renamed, it still is 'bytes'. There are no Obytes, just the Obyte-network. Easy to get that wrong as Bitcoin signifies both the network and the token (tho one might argue that a satoshi is actually the token). Yeah, Ethereum has it more clear than Bitcoin, SI base unit is Ether (ETH) and smallest unit on mainnet is wei. Some say that Bitcoin (big B) is the platform and bitcoin (BTC) with small b is the SI base unit, satoshi is the smallest unit on mainnet. Ligtning network has even smaller unit. O byte is the platform, gigabyte (GBYTE) is the SI base unit, byte is the smallest unit on mainnet. |
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I like Obyte. Nice rebranding IMO. There is currently a discussion on Reddit on the idea of Blackbytes being rebranded as well. https://www.reddit.com/r/obyte/comments/ah97m5/rebranding_rebranding/As I've stated there, I like Blackbytes as a name, so I'd rather keep it. However if the team should decide to rebrand Blackbytes too, perhaps in the fear that "black" bytes could eventually be associated to black market, I’d suggest to perhaps go for Pbytes - Private Bytes, especially as P is the next alphabet letter after O - so we’d have Obytes and Pbytes. Still, I prefer Blackbytes. Pee bites. |
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That'll take a while to get used to  The agency we eventually selected is Skriptor Zigilla, the #1 European Naming Agency with impressive international clients like Oppo, Heineken, ING, Philips, Roche, Shell, Vodafone, Bayer and Novartis. If that's the selling argument, it doesn't make any sense: those companies (or at least the ones I know) are much older than Skriptor Zigilla is, and several of the company names are the names of the creator. They may be clients for sub-products, but those aren't the names everyone recognizes. It looks a lot like O2.I'll probably get used to it, give me some time  So they paid the #1 naming agency to come up with the name but then paid some internet rando to design the logo? https://99designs.com/logo-design/contests/design-cool-fresh-logo-obyte-830058Seems legit... Maybe not the worst name from an SEO standpoint, but there are a number of results of you Google "obyte", including the one linked above. Anyway, I don't have any ogigabytes anymore, but good luck with it obyters. Is that bad? Logo is just one part of whole visual identity. You know what you can't find any results on Google, MD5 hash of Obyte, but that is not great name. It is normal that short names already have results on Google. To create the new visual identity we are going to hire an external agency with extensive experience in rebranding. https://medium.com/byteball/byteball-rebrand-the-next-step-to-real-world-adoption-6a0a924390de |
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Obyte how should i read O like Olivier or 0 like zero byte?
O byte (or Obyte) is like O 2 (O as Oxygen) or O-type blood. Even visually, O is round, 0 is not. |
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Leave the Giga, switch to Mega, and you can go with MOB.
That's not ISO 4217 compatible. Reserved ISO 4217 currency codes start with country code or end with country code (virtual currency that start with X). If MByte then maybe XMB. There is already cryptocurrency called MOBI. |
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Byteball is now Obyte
-snip-
In my opinion, Obyte is a much better name than Byteball. I am wondering what the short will be? GByte should be replaced by OBytes since it confuses people a lot. IMHO, ticker should be compatible with ISO 4217 currency code, so maybe XOB (since XGB is conflicting). |
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You know what else has very long distribution (100 years is more appropriate term for "never ending" than 10 years) - Bitcoin.
While this is true, the fact that the distribution of the tail in Bitcoin is not subject to the whims and caprice of a single individual makes this an entirely different thing. Except it is not whims and caprice, it based on what works and what doesn't, it gets adapted to situation when needed. Whatevs. Whatever the intent, we all must put our _trust_ in tony to 'do the right thing'. If he goes rogue, we have no recourse. OTOH, the Bitcoin emission is clearly bound in an algorithmic manner, destined to never change due to the underlying game theory. IOW, COMPLETELY DIFFERENT. The attempted equivalence is beyond the pale. There is no such thing as "never change", it is very likely that total supply will never change for Bitcoin because no miner would agree to change that, but it is also very likely that hashing function will change for Bitcoin because SHA256 will not last for 100 years, there is no doubt about it, only question about it is what will miners accept next. Whether rest of the algorithm for mining changes is unknown because it is difficult to predict that because the distribution period is very long, intentionally. Even the block size is not set in stone, it will change, it's more of question "when?". You have put your _trust_ in Bitcoin miners and coders that they make decisions that are beneficial for you. You are trusting unknown number of people who have access to cheapest electricity and most powerful computers. You can't guarantee that your fork will always stay with this same distribution because people who have access to cheapest electricity and most powerful computers will eventually win. That's called economy of scale. Current game theory is that Bitcoin mining reward is at same ballpark as it costs to mine and due reward halvings, Bitcoin value will go up and eventually it will be so high that miners will live purely on transactions fees. But what if that won't work? You think coders would sit thumb in their ass for 10 years and not try to fix it if it becomes an issue? "never change" is BS, Bitcoin has already changed a lot and will change a lot in the future, that is normal thing for software that needs to stay relevant, otherwise we would still have Windows 95. |
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You know what else has very long distribution (100 years is more appropriate term for "never ending" than 10 years) - Bitcoin.
While this is true, the fact that the distribution of the tail in Bitcoin is not subject to the whims and caprice of a single individual makes this an entirely different thing. Except it is not whims and caprice, it based on what works and what doesn't, it gets adapted to situation when needed. If Bitcoin airdrop wouldn't have been stopped then there would be even more whales today. Everybody is welcome to come up with better distribution methods, there is no reason why there shouldn't be more distribution methods, just before posting you idea there, somewhat solution how to fight abuse should be considered. There are many ideas for alternative distributions, which are really easy to abuse https://www.reddit.com/r/ByteBall/comments/a7p5nd/distribution_methods_revisited_have_your_say/ |
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About the new distribution methods. I really hate them! Full moon airdrop were beautiful things. I looked up at the sky and saw the full moon waxing. I thought beautiful things about the project. I looked forward to an airdrop. I was content being an early adopter and rewarded as such. The elegant simplicity. But this. This is ugly. This is blacklisting addresses, lotto style gambling, proving ID, changing your mind, and other ugliness. It is the broken promises of how the coins would be distributed. It is a never ending distribution. With unofficial halvings as the distribution diminishes. central control and ID verified. Privacy a forgotten token. Byteball bytes the broken promises.
You are romanticizing the moondrops, there was nothing beautiful about them other than 70 000 addresses (not users) were linked. In reality, whales like Lisk Foundation got huge chunk of bytes for nothing. Weekly draw is better, you don't have to wait for full moon, you just need to wait for Friday and maybe you win. Not sure why you would be against excluding cheaters if that increases your chances to win, unless you are the cheater. Rules are not changed on a whim, they are adapted to situation. ID attestation is not needed, it is voluntary, you either attest your ID or get a bigger bag to increase your chances to win. You know what else has very long distribution (100 years is more appropriate term for "never ending" than 10 years) - Bitcoin. When SHA256 will be broken by quantum computers, you can be sure that they will change it to make the mining more difficult with some other hashing function, SHA256 will not last for 100 years. SegWit already enables them to have stronger signatures for transactions and Bitcoin distribution is not written in stone. It adapts, otherwise it would be dead already. |
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Regarding distribution. This was an issue whn i intered Byteball
and from what I can see, devs are still trying to give away
something for free to people without allowing them to cheat.
What's wrong with trying to minimize cheating? Would it be better if most bytes would be distributed to cheaters? Unfortunately their methods have always proven exploitable so far.
My proposition to make byteball PoA (proof of advertisement)
where you have to write articles and make videos about Byteball
as a massive bounty to get any Byteballs was rejected.
I have been on Bitcointalk longer than my registered date shows. I can remember that there has been and still are many bounty competitions, which reward people for doing actual work, but these have been exploited too and IMHO, they were not that high quality to be beneficial. In reality, 21% of distribution fund that is left to distribute is too much to distribute on bounties alone. There has been many work-based distributions and some of them have been exploited too: * twitter bounty (was mostly spam) * Crowdin translation bounties (no replaced with Utopian.io translators because random translators just used machine translation) * bitcointalk signature campaign (was mostly spam) * youtube video campaign * 2 use-a-thons (one in university and another on Steemit) * campaign for writers (just recently) * campaign for bot developers (just ended) * development grants (still open, many great stuff built with it) * ... maybe some more that I don't remember Goal is to have as wide and fair distribution as possible. Every distribution can be cheated so the idea is to find, which works best and find those where the amount of cheaters can be minimized using code. |
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For the weekly draw, the bot wants me to sign a message confirming that I own an address. But when I click on the request to sign message, it signs it with a different address (I have bytes in 2 different addresses). How can I sign the message with my other address?
What address is that? A change address or just another the wallets in the app? Just select the wallet you want to add from the burger menu and then select "Insert my address" from the chat "..." button. It is easiest to do that with single-wallet address because on multi-address wallets, you need to add a new address every time you spend from that wallet because change is sent to your new address. So, if you use multi-wallet address, it makes sense to send all to your current address on "Receive" screen. |
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Good. Thank! It seems I understand a little more.
And what else does that shared address (based on hash of smart-contract definition) do?
For example, in my smart wallet 5 GB frozen for a year.
Can I use this smart wallet in Weekly Draw? Or is it theoretically impossible?
That would be cool, but I don't know if it's possible because if that smart-contract is between you and steem attestation bot then draw bot has no idea what this address is about until somebody withdraws from it. Maybe it could guess that it's locked reward address by who funded it, but I am not sure. |
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