Obyte: Totally new consensus algorithm + private untraceable payments

[anujjain]

When can we expect next drop?

It is on 7th August. Airdrop always on full moon night.

[2dogs]

These drops have been golden.
HODLing long, for sure.

[davidoski]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

[rigel]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

Anyone who wants to take the risk

[yvv]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

Anyone who wants to take the risk

I don't think so. I think the bot owner is going to take profit or loss.

[freigeist]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

Anyone who wants to take the risk

I don't think so. I think the bot owner is going to take profit or loss.

Imagine if someone insured flights from Qatar Airways a month ago.
The bot or the bot owner could have gone broke?! 

[jamesfox]

I was linked up and received my byteball distribution in July.  Do I need to re-link everything up for the August drop or was that set up I did in July a 1 time thing? 

My bytball, bitcoin and signature is looking correct on the site below.
transition.byteball.org

Any thing else I need to do or was that a set it and forget it job I did in July?  Im hoping as long as my bitcoins are chilling where I left them prior to the July I should be good to go.  Can someone please confirm. 

Thanks and sorry for noob questions.

[European Central Bank]

I was linked up and received my byteball distribution in July.  Do I need to re-link everything up for the August drop or was that set up I did in July a 1 time thing? 

My bytball, bitcoin and signature is looking correct on the site below.
transition.byteball.org

Any thing else I need to do or was that a set it and forget it job I did in July?  Im hoping as long as my bitcoins are chilling where I left them prior to the July I should be good to go.  Can someone please confirm. 

Thanks and sorry for noob questions.

it all depends on the type of bitcoin wallet you linked to it.

is it an hd wallet like blockchain.info or mycelium?

if you spent any coins in the intervening days they'll be on a new address that'll need to be relinked or return the coins to the old address.

i think the byteball bot reports bitcoin balances to you.

[MrBitter]

I really like the coin and being on bittrex and some other exchanges is really cool but will it be listed on poloneix, i mean bittrex is good but i think trading on polo is really another level

[blocks.explorer]

I was linked up and received my byteball distribution in July.  Do I need to re-link everything up for the August drop or was that set up I did in July a 1 time thing? 

My bytball, bitcoin and signature is looking correct on the site below.
transition.byteball.org

Any thing else I need to do or was that a set it and forget it job I did in July?  Im hoping as long as my bitcoins are chilling where I left them prior to the July I should be good to go.  Can someone please confirm. 

Thanks and sorry for noob questions.

it all depends on the type of bitcoin wallet you linked to it.

is it an hd wallet like blockchain.info or mycelium?

if you spent any coins in the intervening days they'll be on a new address that'll need to be relinked or return the coins to the old address.

i think the byteball bot reports bitcoin balances to you.

I don't think you can use blockchain.info wallet. You need to use a bitcoin wallet which you can sign wallet or send a small transaction from. Try electrum.

[specturul]

Why do we need this new bot? What is its zest? Can I make money on this? If so, how much?

[ByteFan]

[reminder]

Beware of change addresses in your BTC wallet AND in your byteball wallet for the next distribution round!

Byteball distribution companion helps you.

          Is you address properly linked?
          Is your linked BTC balance what you expected?
          Are all your bytes on your byteball linked address?
          How much will you receive?

https://byteball.fr/BBdistribution.php

+Bookmark. Once distribution has started you can follow in near real time when bytes arrive in your wallet. Enjoy!

[LoyceV]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

That means you can also use it for flights you're not even taking!
In any other insurance business, that would be considered insurance fraud. Here it's okay I guess, and would be a nice way to experiment with it, turning it into a flight delay gambling bot.
Would it also be possible to use blackbytes for flight delay insurance?

[davidoski]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

That means you can also use it for flights you're not even taking!
In any other insurance business, that would be considered insurance fraud. Here it's okay I guess, and would be a nice way to experiment with it, turning it into a flight delay gambling bot.
Would it also be possible to use blackbytes for flight delay insurance?

"Gamble", "insurance" and "investment" are the words describing the same thing. The difference is only in the probability of loosing. If the probability of loosing is high its called gambling. If the probability of loosing is moderate it's called "insurance". If the probability of loosing is low it's called "investment". The final outcome is affecting the name too.  For example if somebody went broke on an "investment" you will hear people say that he "gambled" and lost. Buying insurance is a gamble too essentially. You gamble on the probability of negative event occurrence. Those who don't buy insurance actually gamble too - on the probability of negative event not occurring.

It's all the same thing but with different names given to it invoking negative or positive attitude of the one giving the name.

[stevebc]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

Anyone who wants to take the risk

I don't think so. I think the bot owner is going to take profit or loss.

Imagine if someone insured flights from Qatar Airways a month ago.
The bot or the bot owner could have gone broke?! 

Actually, this is a very good question.

If I take out an insurance policy on a flight a month from now, does the smart contract system place my (potential) payout in some kind of escrow account at the time I take out the policy - or am I just hoping the Bots wallet has enough funds remaining in a month to cover what it owes me?

[davidoski]

Now we have flight delay insurance bot.  It's already added to the Bot Store.

[...]

Who funds the bot? I mean the bot can be profitable or loosing money depending on the probability and randomness of flight delays. I wonder who will eat the loss or profit?

Anyone who wants to take the risk

I don't think so. I think the bot owner is going to take profit or loss.

Imagine if someone insured flights from Qatar Airways a month ago.
The bot or the bot owner could have gone broke?!  

Actually, this is a very good question.

If I take out an insurance policy on a flight a month from now, does the smart contract system place my (potential) payout in some kind of escrow account at the time I take out the policy - or am I just hoping the Bots wallet has enough funds remaining in a month to cover what it owes me?

When you establish an insurance contract the bot puts the money into the contract (just like you) and it stays there until the contract expires. So insolvency is not an issue in this case. That's the big advantage of smart contracts. The insurance payment is guaranteed by mathematics and algorithm. There's no way that you won't be paid. That's not the case with traditional insurance companies. They can go broke and not pay their clients.

My question regarding who funds the bot is aimed at providing transparency. Of course the owner of this bot has the right to stay anonymous because it actually doesn't matter if it is run by tonych or ISIS. The bot will work the same in either case because it's mathematically guaranteed. Nevertheless it would be nice if we know.

The other question that arrives is who decides which bot is added to the bot store? If I copy-paste the bot that tonych just opensourced and start running a similar bot will it be added to the bot store automatically? If not, who decides which bot is added to the bot store and which is not?

I assume there needs to be someone deciding, otherwise a bad actor could spam the bot store with copy-pasted bots just to make trouble and cause problems.

All of this comes down to the centralization issue. How much power does any individual has (or can have) over the operation of the network? Decentralization is crucial for the byteball network to succeed but unfortunately on this front we don't know much.

Decentralizing the byteball network will be painful for tonych and it's understandable. Byteball is his baby, he worked very hard for over two years to develop and write the code. Giving up control over this network is like leaving your beloved baby on the mercy of other people. That's is not easy but at some point it has to start otherwise it will continue to be "one man cryptocurrency" - one man is a single point of failure easy to attack by bad (state or non state) actor and destroy the network. We should address this issue if we want to have any hope in byteball to succeed.

[Freefactomizer]

The other question that arrives is who decides which bot is added to the bot store? If I copy-paste the bot that tonych just opensourced and start running a similar bot will it be added to the bot store automatically? If not, who decides which bot is added to the bot store and which is not?

The bot store is broadcasted by the hub owner. You would have to contact the differents hubs available to ask them to add your bot.

[davidoski]

The other question that arrives is who decides which bot is added to the bot store? If I copy-paste the bot that tonych just opensourced and start running a similar bot will it be added to the bot store automatically? If not, who decides which bot is added to the bot store and which is not?

The bot store is broadcasted by the hub owner. You would have to contact the differents hubs available to ask them to add your bot.

In this way hub becomes along with witnesses another central point of the network open to social manipulation, advertising, propaganda, bribes, cartelization  and of course attacks. We actually don't know how this whole concept will work in the long run. Byteball is smalll at the moment. When/if it grows it will become a target for increased attacks by any vector possible. We need to think about it and ask about it if we want to have any confidence in the system. Nobody in its right mind will put any significant amount of money in the system that raises security questions and is open to attack vectors.

[NewChmst]

Hi All,
does any of you knows what will be the distribution rules after the August distibution ?

Thanks

[peschi]

Hi All,
does any of you knows what will be the distribution rules after the August distibution ?

Thanks

It's not announced yet, but I think they will stay the same for September (get 0.2 GB "airdropped" for every 1 GB you have). Follow up this topic - distribution rules are always posted here on Bitcointalk.