Obyte: Totally new consensus algorithm + private untraceable payments

[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.

[o5skuumh]

I tried to get in the the last distribution, linked an address by signing a message/sending to the bot, then moved my BTC to that address. The bot confirmed that it was linked and I would be receiving X amount of byteball. Great! Then I went to sleep and I guess an hour later the BTC moved from that address to a new address (some kind of weird delayed change address thing, I'm not sure; I was incredibly dumb for keeping the BTC in a managed wallet), so at the time of distribution (a few hours later), my BTC was in a non-linked address. Didn't think to ask before, and I'm sure it's a stupid question, but is there any chance to link/claim for that address retroactively?

[memberx]

I really like the new Flight Delay insurance, does anyone have the exact specifications for such an insurance? Just one flight must be min 1 day later, anything more specific available?


thx

[davidoski]

I really like the new Flight Delay insurance, does anyone have the exact specifications for such an insurance? Just one flight must be min 1 day later, anything more specific available?


thx

As the screenshot shows you choose what kind of delay you want compensated and with what amount of money. You choose 30 min, 1 hour, 2 hours, or 4 hours or cancellation. You provide  the amount of expected compensation and the bot provides you with the cost of such insurance.

For anybody taking real flights and risking some serious cost associated with flight delay this is an excellent solution to be compensated. No more hassle with airlines about refunds that they rarely provide. Here it is 100% guaranteed in a trustless way. Perfect!

[memberx]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

[davidoski]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

It's just 500 USD. A bit poor then. Should allow larger refunds. I bet tonych put this to prevent any excessive bleeding of capital in case his probability calculations don't work as expected or prevent users from mistakes like 10 GB or 100 GB entered mistakenly.

[memberx]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

It's just 500 USD. A bit poor then. Should allow larger refunds.

But if it's not working then you get nothing it should show up as in the screenshot...

[davidoski]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

It's just 500 USD. A bit poor then. Should allow larger refunds.

But if it's not working then you get nothing it should show up as in the screenshot...

You get nothing but you paid nothing as the contract is not set up. I bet you can set up 2 or more separate contracts if you want larger compensation. Did you try two contracts for 1 GB compensation?

[memberx]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

It's just 500 USD. A bit poor then. Should allow larger refunds.

But if it's not working then you get nothing it should show up as in the screenshot...

You get nothing but you paid nothing as the contract is not set up. I bet you can set up a few different contracts if you want larger compensation. Did you try two contracts for 1 GB compensation?

Mate, I DO NOT WANT LARGER COMPENSATION. You just didn't get it. When entering flight and date I get that "MAX COMPENSATION IS 1GB"

I can't say what compensation I want


So it's not fully working or not for all flights...

[davidoski]

Just tried it with the flight dates of a friend, not working. it just say: Max compensation: 1 GB

that's it?

It's just 500 USD. A bit poor then. Should allow larger refunds.

But if it's not working then you get nothing it should show up as in the screenshot...

You get nothing but you paid nothing as the contract is not set up. I bet you can set up a few different contracts if you want larger compensation. Did you try two contracts for 1 GB compensation?

Mate, I DO NOT WANT LARGER COMPENSATION. You just didn't get it. When entering flight and date I get that "MAX COMPENSATION IS 1GB"

I can't say what compensation I want


So it's not fully working or not for all flights...

What did you enter as flight details?

[zxbball]

What is the required hard disk capacity of the byteball full node? The full node capacity of the Etherum square is close to 1T. Will there be too many problems with the full node when there are so many transactions on the byteball?

[memberx]

What did you enter as a flight detail?

AB 6580 7.8.2017

[davidoski]

You need to put the value in a correct format: AB6580 07.08.2017. It works fine:



The price is a bit steep though on this particular flight (20%):