Obyte: Totally new consensus algorithm + private untraceable payments

[zxbball]

 the software updata no matter what vision, A full backup that was backed up with the original version, restore at any newest wallet vision is work?

[neurotypical]

Click on this:


then advanced->wallet information, at the bottom all your byteball addresses are listed.

Thanks, it's good to know that there's a way to keep track of all your recieving addresses, otherwise it would be a mess. I will try later once I get back home.

I also want someone to explain me what is the FINAL total supply after all the Byteballs are distributed. And also, for how long there will be a distribution going?

Can someone draw a graph of how the inflation levels look like on this coin?

dunno about the address bit.

all gbyte already exists. there is no inflation. it has to be distributed still. it's about halfway there.

i assume the distribution will continue changing if better ideas come along so there's no guaranteed end.

But I assume the earlier you get the more coins you get right?

I see a % of distributed coins that keeps increasing:

    2nd round on Feb 11, 2017: 121,763 BTC linked, 1.8% distributed;
    3rd round on Mar 12, 2017: 129,139 BTC linked, 2.0% distributed;
    4th round on Apr 11, 2017: 145,441 BTC linked, 2.3% distributed;
    5th round on May 10, 2017: 207,672 BTC linked, 2.9% distributed;
    6th round on Jun 9, 2017: 453,621 BTC linked, 6.6% distributed;
    7th round on Jul 9, 2017: 949,004 BTC linked, 11.0% distributed.
    8th round on Aug 7, 2017: 1,395,899 BTC linked, 16.0% distributed.

So this doesn't look like it benefits early adopters, unless you where in the first distribution where they released 10% at once

The first distribution round took place on Dec 25, 2016 when the network launched, over 70,000 BTC was linked, and 10% of the total supply of bytes and blackbytes was distributed. In the subsequent rounds, the total distributed supply reached 52.6%:

I see that you get some % depending on how much you are holding tho

The rest of the distribution is split into multiple rounds and in each round holders of BTC and Bytes are rewarded. The amounts you receive are proportional to your proven balances in BTC and Bytes on the next distribution date:

    For every 16 BTC you receive 0.1 GB (1 gigabyte = 1 billion bytes),
    For every 1 GB you receive additional 0.1 GB.

I don't know, it seems a bit complicated compared to the simple approach of bitcoin where it's a predictable curve.

[rigel]

When I try to send Blackbytes from my Android wallet it says Syncing forever without sending any.

Is it a known issue?

[Bert65]

stop your bullshit! we all know that the last two airdrops had screw the Gbyte price. It only served(as well as Bitcoin cash) to pump the bitcoin price.

Gballs was a cool boat floating in the ocean. We enter now in the submarine mode and Gballs is heading to tha abyss. Don't expect to see that shit at 0.3 anytime soon.

[Iranus]

It only served(as well as Bitcoin cash) to pump the bitcoin price.

And to simultaneously solve almost every single major problem with crypto, but I guess that doesn't matter if you enjoy commenting on things you know nothing about.

I don't know, it seems a bit complicated compared to the simple approach of bitcoin where it's a predictable curve.

Byteball's approach is to get through to as many different people as possible.  That means using the market which has already matured the most (Bitcoin) to try and distribute as well as easily possible.

The difference between BTC and Byteball here is that in BTC, it's the block reward for mining.  In Byteball there is no mining, and transactions are verified in a somewhat centralised manner using democratically elected "witnesses".  All bytes already exist, and the challenge is simply finding the best way to distribute them.  So there is no guarantee of exactly what will happen in all of the future rounds, but I consider it unlikely that there will be more coins to distribute in a year's time.

[bcsuisse]

I really like byteball for the speed and the working wallet. iota wallet is shit compared to byteball

[Michail1]

When I try to send Blackbytes from my Android wallet it says Syncing forever without sending any.

Is it a known issue?

I have seen this when trying to send all blackbytes.   Meaning, it is made up of a lot of 'messages'.   Try sending a smaller amount.

[neurotypical]

Click on this:


then advanced->wallet information, at the bottom all your byteball addresses are listed.

I just saw that I had to click on advanced to bring up the additional options. I think this is not really an advanced feature, it should be reachable easier imo. I think people like to keep track of all the addresses they have to receive payments in a nice and ordered way. Even if you should generate a new address each time for better privacy, it's good to keep track of them, and newbies may be confused than this is an advanced feature IMO.

[Michail1]

Can anyone confirm how Windows backups and restore works? Just copy the %LOCALAPPDATA%\byteball -folder to the new computer at the same location, install Byteball wallet, and I should see my balances?

Btw, new website is very cool!

Isn't anybody tried to recover wallet? I have Light wallet, and need to move my wallet to new computer.

If you still have accesso to old wallet it is easier for you to install a new wallet on the new computer and to transfer the asset. Otherways you can use the full backup, if you have made it.

Ok, thank you. I have of course full backup in a safe place. I try to install new wallet and recover it with my backup. Let's see if that's really that easy. I had Light wallet and going to install that again.

Is is that the case that, if I want to backup/recover assets with passphrase(except untraceable ones ie. blackbytes), I need to use full wallet at all times?

You don't need to uninstall/install the application.  You can rename the folder which the actual wallet is in.   This is one way of having multiple wallets, etc.  Always a good idea to backup the directory AND the wallet itself

Simply doing a Full Backup on one computer and then a Full Restore on another computer is all you need.  This even works across platforms.
This works for light and full node backups.  Only exception is that you can't do a full restore of a full node on an android.

You can do a full backup and restore.  It will also recover the blackbytes from the time of the backup.  If more blackbytes were received (or spent) on a computer, then you need to rebackup else it causes problems (and possible loss/overstatement) when restoring on the new computer.  Regular bytes is no problem.

You mentioned 'full wallet', but I think you meant 'full node'.   No, restoring doesn't require a full node; however, a restore from SEED requires a full node.

[Michail1]

I just saw that I had to click on advanced to bring up the additional options. I think this is not really an advanced feature, it should be reachable easier imo. I think people like to keep track of all the addresses they have to receive payments in a nice and ordered way. Even if you should generate a new address each time for better privacy, it's good to keep track of them, and newbies may be confused than this is an advanced feature IMO.

Why would any regular person want to see old receive addresses?   Bitcoin doesn't do this by default either.

Click on Receive and you see an address.  You can click on Generate New Address at will.
I think that blasting a screen with a lot of receive and change addresses would simply confuse most people.  I think for this reason, no wallet (that I know of) floods the screen with such addresses for any crypto by default.

[sprinkles]

I really like byteball for the speed and the working wallet. iota wallet is shit compared to byteball

Have to agree with this. I have some Byteball and IOTA. I prefer Byteball.
Much more user friendly.
I think the gap in the market caps will start to close soon.

[Hyena]

I really like byteball for the speed and the working wallet. iota wallet is shit compared to byteball

Have to agree with this. I have some Byteball and IOTA. I prefer Byteball.
Much more user friendly.
I think the gap in the market caps will start to close soon.

Also Byteball has much bigger and active community, people working on stuff for the Byteball platform. Take dagcoin for example.

[LoyceV]

Click on this:


then advanced->wallet information, at the bottom all your byteball addresses are listed.

I just saw that I had to click on advanced to bring up the additional options. I think this is not really an advanced feature, it should be reachable easier imo.

I love the suggestion to make it more like Bitcoin Core: for instance, I would like to give a label to sending and receiving addresses.
Another suggestion: it would be very nice to be able to find someone in Chat by using a custom name, like Skype does. Instead of showing: A8JlWkrGQd9XxG7VPAtyWs2uzVuVqMlJOBpu8rusG8v0@byteball.org/bb#8xKKnk399Pi7 , wouldn't it be nice if I can register "LoyceV", and connecting to "LoyceV" is enough to get a pairing code?
Of course, this would be on a first-come-first-serve basis, like any nickname.

Why would any regular person want to see old receive addresses?

For example: if you're waiting for payments from 5 different persons, it's really nice to see which address gets funded. Having an overview is easier than checking 5 different chats.

Bitcoin doesn't do this by default either.

Bitcoin Core: File > Receiving Addresses: Addresses and Labels. A screenshot was shown earlier in the thread:

I want to keep track, something like this on Bitcoin Core:

[Hyena]

Click on this:


then advanced->wallet information, at the bottom all your byteball addresses are listed.

I just saw that I had to click on advanced to bring up the additional options. I think this is not really an advanced feature, it should be reachable easier imo.

I love the suggestion to make it more like Bitcoin Core: for instance, I would like to give a label to sending and receiving addresses.
Another suggestion: it would be very nice to be able to find someone in Chat by using a custom name, like Skype does. Instead of showing: A8JlWkrGQd9XxG7VPAtyWs2uzVuVqMlJOBpu8rusG8v0@byteball.org/bb#8xKKnk399Pi7 , wouldn't it be nice if I can register "LoyceV", and connecting to "LoyceV" is enough to get a pairing code?
Of course, this would be on a first-come-first-serve basis, like any nickname.

Bitcoin-style Coin control features are a desperately needed feature for the wallet. I would implement them myself but I'm working on some other stuff for Byteball, can't get to everywhere myself

[miramare]

Next round, 1btc will only get 0.000625GB?  1/10 less than before? Why?

[riskthebiscuit]

Next round, 1btc will only get 0.000625GB?  1/10 less than before? Why?

I believe the reasoning is so people are inclined to actually go out and buy GBYTE rather than just have BTC to receive the GB only to dump it soon thereafter. I think they are trying to prevent weak hands by doing this, and I agree with the logic if so. Seems like a good play to promote buying in the market

[Benezim]

After August 7 we'll reach more than 50% distributed coins and will start a new phase of our distribution.

It was stated from day one that the purpose of this distribution is to get this coin into the hands of as many people as possible.  Both coins (bytes and blackbytes) are meant to be used as currencies, and this is only possible when there are many users and apps to interact with.  We already have a sizable community, a number of unique apps, and we are the only crypto project to have an app distribution platform (the Bot Store), but there is still a lot of room to grow in terms of user count, number of apps, and willingness of users to use these apps.

Up until now, we were distributing only to holders of BTC and Bytes, i.e. we were rewarding holding.  Now we are adding actual users into the mix, i.e. we are going to reward transactions.

To get you an idea of how we are going to do it, we are going to partner with several categories of companies:
- merchants
- payment processors
- "Bitcoin debit card" companies
and offer 10% cashback, paid in Bytes, for all qualifying purchases (no matter how the purchases are paid).  The cashback will be funded from the undistributed pool.  For example, a customer who bought for $100 receives $10 cashback in Bytes, paid to his Byteball address, at the current exchange rate.  For merchants, this is something that would drive sales and they would put effort into promoting the offer.  In competitive industries, a 10% cashback is a very powerful tool to lure customers.  For customers, this is a 10% discount (which matters a lot in some industries).  For Byteball, it is new users who will have to get involved into the system in order to receive the cashback.

A few companies have already expressed interest (not disclosing the names while it is a work in progress).

A few extensions of this offer:
- 20% cashback if the purchase is paid in bytes or blackbytes.  This would incentivize merchants to start accepting bytes and blackbytes, and the infrastructure will stay after the distribution ends.
- merchants can offer additional cashback to their customers.  Merchants fund it themselves by buying bytes from the market, and for every 1% funded by the merchant we add 1% more from the undistributed pool.

If you see similarity with existing loyalty points schemes, it is similar indeed.

At a minimum, we receive many new users who learn about Byteball from their merchants, plus working payment integrations.  And the users are not just crypto fans, it may be their first crypto coin for many users.  With the most user friendly wallet in the industry, we are in the best position to expand beyond the crypto village.

We can continue adding 10-20% to existing byte balances to incentivize keeping the received bytes before more infrastructure is built, rather than cashing out immediately.  

Two negative sides:
- the scheme is less transparent than plain adding on top of existing balances, and some share of fraud is inevitable.  Merchants might try to deceive us to receive coins for themselves by reporting nonexistent sales or selling to themselves.  This is mitigated by good choice of trustworthy merchants and our ability to disconnect any merchant at any time on suspicion of fraud.  Their customers can also try to find ways to abuse the system, again we'll require the merchants to prevent that by excluding some types of purchases, monitoring customers, enforcing caps, etc.  Additionally, if the merchant funds part of the cashback himself, he has skin in the game to counter the customer fraud.
- these new users are not holders for the most part, they are more likely to sell.  Not a big problem, the point is they already know about Byteball and it's easy for them to get back.  The new users are new to crypto, many of them won't use exchanges, and somebody will have to create new easier-to-use channels to fiat, which is positive for liquidity.  Also, 10%-20% monthly distributions discourage fast selling while the distribution is ongoing.  And lastly, the merchants who fund 50% of the cashback would partially balance the markets by buying coins.

On balance, I'm sure that these negatives are tolerable when we are going to achieve a vast expansion of our user base and acceptance at merchants.

For the current distribution round, nothing changes.

For the next distribution on September 6, we are changing the ratios in favor of Byte holders and slowing down the distribution to have more time to build out the cashback program:

BTC to Bytes: every 160 BTC gives you 1 GB from the distribution (or 0.00625 GB per BTC).
Bytes to Bytes: every 10 GB of existing balance gives you additional 1 GB from the distribution (in other words, +10% to existing balances).

Similar ratios for blackbytes.

For those who receive their first bytes from cashbacks, Sep 6 will be the first distribution when they receive +10%.

I'll make announcements as we add merchants in the cashback program.

It's all been explained here

[bitjoin]

Next round, 1btc will only get 0.000625GB?  1/10 less than before? Why?

Probably because the giveaways have been killing the price of late + they wont have many giveaways left. Glad i held all my blackbytes up to now since they are going to be hard to get also.

[s1lverbox]

Hey all. we need your help

Please visit link and vote to add Gbyte to shapeshift.


Link @ https://shapeshift.zendesk.com/hc/en-us/community/posts/115000497510-ADD-REQUEST-Byteball-Symbol-GBYTE-

To get things going just follow from drawing bellow

We done great job but wee need more up votes. Please if you didnt visited above place to follow link and vote to add Gbyte to shapeshift.

[neurotypical]

I just saw that I had to click on advanced to bring up the additional options. I think this is not really an advanced feature, it should be reachable easier imo. I think people like to keep track of all the addresses they have to receive payments in a nice and ordered way. Even if you should generate a new address each time for better privacy, it's good to keep track of them, and newbies may be confused than this is an advanced feature IMO.

Why would any regular person want to see old receive addresses?   Bitcoin doesn't do this by default either.

Click on Receive and you see an address.  You can click on Generate New Address at will.
I think that blasting a screen with a lot of receive and change addresses would simply confuse most people.  I think for this reason, no wallet (that I know of) floods the screen with such addresses for any crypto by default.

It does? "Recieving addresses" is listed in the main menu in Bitcoin Core. It's also basic to use coin control feature if you want any privacy.


Also I have a problem. I have run out of newly generated addresses in Byteball. It just keeps generating the same addresses I have generated already. Looks like after address number 16, it keeps showing me addresses that I have already generated (so random ones no that 16 address list)

What is going on with this? I need at least 60 different Byteball addresses for my at laest 60 Bitecoin addresses (I didn't count them but it's around 60 that I have to sign and link to these 60 Byteball addresses)