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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1178355 times)
flo123
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July 06, 2017, 09:18:57 AM
 #10361

Hey guys,

I am new to Byteball and really do like the concept behind it - incl. the airdrop.
Anyway, I am currently not holding any Bytes myself, but would like to participate in the next airdrop round. Hence I would like to clarify one thing first:

Let's assume I have 1 BTC in my wallet (which can sign a message), I then can either link it and get 0.0625 GBytes / BTC or I sell those BTC now for Bytes and should then get additional 0.2 GB per GB I already own. So in order to maximize the airdrop, why shouldn't someone sell his BTCs now for Bytes and get roughly 3 times more Bytes compared to just linking his BTC?

If I now buy Bytes over an exchange or the trading bot (OTC), will my balance then automatically increase by 0.2 GB / GB owned or do I have to do anything to receive them?

Thx a lot guys!

It's a matter of the risk you're willing to take. By only linking your BTC balance you're not risking anything, simply collect the free Byteball coins and keep  all your BTC.
By exchanging BTC for GBytes you can gain much more for a higher risk (price of GBytes could go down, then you're sitting on a loss).

There's more information about the effect of linking vs. buying in our wiki: https://wiki.byteball.org/airdrop

Also, you have to consider that about 30% of bytes will be added into circulation, diluting the existing 'shares'. Therefore, I expect the GByte price to take about a 20% hit straight after the airdrop, could be more, could be less. This expected price drop will likely completely offset your 20% of additional GBytes received, at least at the time of the drop. Of course one can speculate about the price increasing afterwards......

True! But anticipating future airdrops, I doubt the demand and hence the price will decrease a lot. Sure, the GByte price will decrease a bit, but over the long term it should bounce back. Anyway, diversification is always the way to go Wink
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July 06, 2017, 09:34:38 AM
 #10362


Hi, Im wondering if i linked my address last month do i have to link it again this month or is it now linked forever?

Also when are blackbytes getting listed on any exchange?  Grin

It's linked for all coming airdrops.

It's not really wishable that Blackbytes were listed on exchanges, they are untraceable because their history stay private between the peers (only the hashes are stored in DAG), if you centralize most transactions in exchanges then it wil be possible for them to trace Blackbytes  transactions.
But technically it's possible (although they would have to code a bot for deposit/wthdraw) and nobody can stop them if they want to do so.

🏀 - ⚾ - ⚽ - ❄ - 🏈 -  Obyte Sport Betting Bot - 🏀 - ⚾ - ⚽ - ❄ - 🏈
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July 06, 2017, 10:21:06 AM
 #10363


Hi, Im wondering if i linked my address last month do i have to link it again this month or is it now linked forever?

Also when are blackbytes getting listed on any exchange?  Grin

It's linked for all coming airdrops.

It's not really wishable that Blackbytes were listed on exchanges, they are untraceable because their history stay private between the peers (only the hashes are stored in DAG), if you centralize most transactions in exchanges then it wil be possible for them to trace Blackbytes  transactions.
But technically it's possible (although they would have to code a bot for deposit/wthdraw) and nobody can stop them if they want to do so.


Ok thank you for detailed answer Smiley













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bobq
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July 06, 2017, 10:54:29 AM
 #10364

Question about the OP:

"The linking phase will end on July 9, 2017 at 04:07 UTC, after which we'll do the distribution in proportion to BTC and bytes balances on this date."

Does this mean the entire linking phase will end on July 9, also for subsequent rounds?
Or will there be new linking phases for new rounds? This is not fully clear from what is written....



No, that's just for the July airdrop. There will be new linking phases for new rounds, but the old addresses liked will remain lined.

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July 06, 2017, 11:19:09 AM
 #10365

Hey guys,

I am new to Byteball and really do like the concept behind it - incl. the airdrop.
Anyway, I am currently not holding any Bytes myself, but would like to participate in the next airdrop round. Hence I would like to clarify one thing first:

Let's assume I have 1 BTC in my wallet (which can sign a message), I then can either link it and get 0.0625 GBytes / BTC or I sell those BTC now for Bytes and should then get additional 0.2 GB per GB I already own. So in order to maximize the airdrop, why shouldn't someone sell his BTCs now for Bytes and get roughly 3 times more Bytes compared to just linking his BTC?

If I now buy Bytes over an exchange or the trading bot (OTC), will my balance then automatically increase by 0.2 GB / GB owned or do I have to do anything to receive them?

Thx a lot guys!

It's a matter of the risk you're willing to take. By only linking your BTC balance you're not risking anything, simply collect the free Byteball coins and keep  all your BTC.
By exchanging BTC for GBytes you can gain much more for a higher risk (price of GBytes could go down, then you're sitting on a loss).

There's more information about the effect of linking vs. buying in our wiki: https://wiki.byteball.org/airdrop

Thanks for the link! Airdrop is soon and people will make important decisions, this article will help to make correct decision.

With so much GB added to market I expect price to go down slightly!

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July 06, 2017, 11:32:33 AM
 #10366

With so much GB added to market I expect price to go down slightly!

I would like to buy cheap bytes too, the problem is that some people linking their BTC finally want to buy more bytes and the price stays high.

🏀 - ⚾ - ⚽ - ❄ - 🏈 -  Obyte Sport Betting Bot - 🏀 - ⚾ - ⚽ - ❄ - 🏈
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July 06, 2017, 12:16:50 PM
 #10367

Question about the OP:

"The linking phase will end on July 9, 2017 at 04:07 UTC, after which we'll do the distribution in proportion to BTC and bytes balances on this date."

Does this mean the entire linking phase will end on July 9, also for subsequent rounds?
Or will there be new linking phases for new rounds? This is not fully clear from what is written....



No, that's just for the July airdrop. There will be new linking phases for new rounds, but the old addresses liked will remain lined.

That is clear, thanks.
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July 06, 2017, 01:44:47 PM
 #10368

Newb question here: ok, lets say I have 1 btc and I connect it to BB wallet, how much byteball will I currently receive 0.Huh?

Thanks guys.

_
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July 06, 2017, 01:45:43 PM
 #10369

Newb question here: ok, lets say I have 1 btc and I connect it to BB wallet, how much byteball will I currently receive 0.Huh?

Thanks guys.

62.5 MBITS / 0.0625 GBYTES
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July 06, 2017, 01:49:45 PM
 #10370

Newb question here: ok, lets say I have 1 btc and I connect it to BB wallet, how much byteball will I currently receive 0.Huh?

Thanks guys.

62.5 MBITS / 0.0625 GBYTES

Ok, thanks a bunch!

_
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July 06, 2017, 02:22:26 PM
 #10371

With so much GB added to market I expect price to go down slightly!

I would like to buy cheap bytes too, the problem is that some people linking their BTC finally want to buy more bytes and the price stays high.

The price appears to ramp up slightly before each drop as people buy more to get the bonus.
And, the price drops right after as those people may sell some off, but more likely because of all the people that are in it just to get free money and dump.

With the bonus so high, I think it helps in that most people want to keep making more money.  The power of compound interest is great.

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July 06, 2017, 04:47:10 PM
 #10372

I know the distribution is on the 9th, but when will the "screenshot" of the blockchain done for the byteball airdrop?
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July 06, 2017, 04:51:58 PM
 #10373

How do we program our own oracle using different data feeds? I'd like to see it extended into US sports (NFL / MLB / NHL / NBA).

https://bitcointalk.org/index.php?topic=1608859.msg19101028#msg19101028
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July 06, 2017, 04:53:49 PM
 #10374

WARNING: Phishing attempt through Slack PM
I received this email 80 minutes ago:

Quote
You have a new direct message from the Byteball team (byteball.slack.com).

tim adams 5:24 PM, July 6th
To everyone: during the attack today on 0Myetherwallet i lost 483 ETH. If you ever used MEW visit 0myetherwallet.com  NOW and check your ETH balance. i have been informed that many ETH holders have been affected by the hack attempt.
It links to myetherwallet.someweirdcountry, so obviously it's a scam-attempt.

It's deleted on Slack: "This team member's account has been deactivated."
But it's probably still in your mailbox. Don't fall for the scam-email!

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July 06, 2017, 05:47:02 PM
 #10375

How do we program our own oracle using different data feeds? I'd like to see it extended into US sports (NFL / MLB / NHL / NBA).

https://bitcointalk.org/index.php?topic=1608859.msg19101028#msg19101028

Have a look at existing oracles:
https://github.com/byteball/byteball-data-feed
https://github.com/byteball/sports-oracle

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July 06, 2017, 06:20:04 PM
 #10376

Wait until the next distribution was conducted on 9th July. The past has shown that the price usually declines after a distribution for a while until it soars again before of the next monthly distribution. In your situation, I would use the timeframe of one or two weaks to get into Byteball cheaply. I do not recommend to buy directly before a distribution phase.

With so much GB added to market I expect price to go down slightly!

I would like to buy cheap bytes too, the problem is that some people linking their BTC finally want to buy more bytes and the price stays high.
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July 06, 2017, 06:29:35 PM
 #10377

The sports oracle sounds great. I'll test it after I finished the Zork game provided by a Byteball oracle. When original Zork was released I was not already born. But I remember Sheldon played the game in a Big Bang Theory episode and I wondered what that kind of game is, and now I'm glad it was done on Byteball and I am able to play it  Grin I really love Byteball!

How do we program our own oracle using different data feeds? I'd like to see it extended into US sports (NFL / MLB / NHL / NBA).

https://bitcointalk.org/index.php?topic=1608859.msg19101028#msg19101028

Have a look at existing oracles:
https://github.com/byteball/byteball-data-feed
https://github.com/byteball/sports-oracle

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July 06, 2017, 06:33:25 PM
 #10378


UPDATE :

616169.26611946 btc linked  which will bring approx. : 38,510 gb

and we have 255,492gb in circulation which will bring : 51,098 gb more after airdrop

So

 255,492+51,098+37,948= 345,100 Gb in total in circulation after give away.

Yes that's 1/3 of all gbytes.

Yes i think in this rate we will have at least 4 more airdrops
.
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July 06, 2017, 06:45:22 PM
 #10379

Sorry for off-top, but:
When I'm seeing Byteball, its remind Chris Farley and his death  Huh

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July 06, 2017, 08:04:09 PM
 #10380

How is airdrop date accurate? Can I link BTCs right before 04:07 UTC? Say, 1 or 2 hours prior to it?
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