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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1224227 times)
bitblaster
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September 17, 2017, 06:36:00 PM
 #13781



Fees and intrinsic value

The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.  This means there is intrinsic value in bytes: it is the utility of permanently storing that size of data in a decentralized immutable database.  For data that represents financial transactions, the value is social rather than personal, because you absolutely need to store the full coin history in order to be able to prove the value and authenticity of the coin to each subsequent owner.

The fees are collected partially by those who are first to reference your transaction as parent and partially by witnesses.  The former incentivizes referencing the most recent transactions as parents, which results in the DAG growing in one direction only, like the trunk of a tree, and being as narrow as network latency permits.  If new transactions are rare enough, such that all nodes have enough time to sync before a new transaction appears, the DAG will look almost like a chain, with only occasional forks and quick merges.



Very promising project,

one question:
If I reference a transaction on my wallet, would I be receiving fees?

Thanks

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September 17, 2017, 06:44:52 PM
 #13782

Since the next round of the Distribution is going to happen in November 4th then guys what do you think about the price of Byteball?

Is the price going to be increased as there are around ~50 days left for the next airdop!

Also what is the current price of GBB (since it is not listed in exchanges) 1 GBB = x Bitcoin?
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September 17, 2017, 07:17:12 PM
 #13783

Since the next round of the Distribution is going to happen in November 4th then guys what do you think about the price of Byteball?

Is the price going to be increased as there are around ~50 days left for the next airdop!

Also what is the current price of GBB (since it is not listed in exchanges) 1 GBB = x Bitcoin?

I think 1 GBB is usually trading around 0.03-0.05 GB, which would be 0.002 BTC.
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September 17, 2017, 07:34:11 PM
 #13784

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.




I got in around the same price.  Hurts pretty bad.  Exchanges should have been excluded from the beginning.  No reason that Iconomi should have ever gotten any GB.  Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.  I hope new airdrop projects learn from this in the future.

Imagine how different the landscape would look if there was a limit placed at the beginning.  For instance, then maximum amount of BTC that could be credited for airdrop per wallet is 10 BTC or something. 

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September 17, 2017, 07:45:37 PM
 #13785

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.




I got in around the same price.  Hurts pretty bad.  Exchanges should have been excluded from the beginning.  No reason that Iconomi should have ever gotten any GB.  Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.  I hope new airdrop projects learn from this in the future.

Imagine how different the landscape would look if there was a limit placed at the beginning.  For instance, then maximum amount of BTC that could be credited for airdrop per wallet is 10 BTC or something. 

What do you expect from a lopsided distribution? Giving BTC holders free bytes will never be a good idea. They will be the price resistance levels in the years to come.
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September 17, 2017, 07:51:06 PM
 #13786

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.




I got in around the same price.  Hurts pretty bad.  Exchanges should have been excluded from the beginning.  No reason that Iconomi should have ever gotten any GB.  Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.  I hope new airdrop projects learn from this in the future.

Imagine how different the landscape would look if there was a limit placed at the beginning.  For instance, then maximum amount of BTC that could be credited for airdrop per wallet is 10 BTC or something. 

I cannot agree with you more.
The exchanges should have been excluded from Airdrop. I must admit that bitcoin exchanges are dumping Byteball and causing massive price drop. The technology and idea is very promising.

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September 17, 2017, 08:05:47 PM
 #13787

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.




I got in around the same price.  Hurts pretty bad.  Exchanges should have been excluded from the beginning.  No reason that Iconomi should have ever gotten any GB.  Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.  I hope new airdrop projects learn from this in the future.

Imagine how different the landscape would look if there was a limit placed at the beginning.  For instance, then maximum amount of BTC that could be credited for airdrop per wallet is 10 BTC or something. 

What do you expect from a lopsided distribution? Giving BTC holders free bytes will never be a good idea. They will be the price resistance levels in the years to come.
It's better than an ICO.

Besides legal problems, it leads to more centralization and manipulation of the price. Sometimes developers themselves buy the whole supply...

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September 17, 2017, 08:07:26 PM
 #13788

Well, eventually the price of Byteball will stop crashing and start stabilizing. It's going to be the price where sellers won't sell that cheap anymore and there are more buyers willing to buy the current price.
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September 17, 2017, 08:54:41 PM
 #13789

hi

freebot is broken  Angry..i cant see my order and when i want filled an order i an error message "trade not find"

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September 17, 2017, 09:19:10 PM
 #13790

Byteball Bytes (GBYTE) $236.93 (-1.10%)  0.06361020 BTC (-1.59%)

as of

9:17 PM Sunday, September 17, 2017

Such a drop. It had a high of $940 June 2017. Huh Huh

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September 17, 2017, 09:23:11 PM
 #13791

Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.

they can only sell once. if byteball is to have any future then there'll be enough demand for them to let go of it at the price they want.
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September 17, 2017, 09:32:59 PM
 #13792

Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.

they can only sell once. if byteball is to have any future then there'll be enough demand for them to let go of it at the price they want.

My attitude as well, Byteball is a long hold and this price drop is a small dip in the road.  Let the sellers sell and we can watch the devs continue to progress this project, really impressed with Byteball and their airdrop system (I do agree airdropping to exchanges was a really dumb move, they don't deserve the reward they make so much on fees).
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September 17, 2017, 09:36:19 PM
 #13793

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.

My situation is slightly different as I've only received the airdrops.
But I'm not concerned about the current price as I really believe in the tech/platform long term.
There's not many projects out there that hold up well against Byteball.

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September 18, 2017, 12:06:36 AM
 #13794

Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.

The coins have to be distributed somehow. But in time it probably doesn't matter too much who the initial air drops went to .Time will even out, weak hands sell and strong hands buy. In the end  those who believe will possess the coins. I personally quite intrigued by this project and have been buying in order to hold longer term. Hopefully it will work out, it is definately different and personally I like not going down the all hype - no substance ICO route.  
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September 18, 2017, 03:11:43 AM
 #13795

in the future , can byteball have the ' offline transaction ' funciton like IOTA
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September 18, 2017, 04:56:34 AM
 #13796

I do not trust this project anymore. I´ve got my first byteballs around 0.3 and the price is 0.6 now. They shouldn´t have reduced airdrop amounts for byteball holders. This was a mistake. Those who are holding huge amounts of BTC automatically became whales and dumped the price, and i don´t expect it to rise again.




I got in around the same price.  Hurts pretty bad.  Exchanges should have been excluded from the beginning.  No reason that Iconomi should have ever gotten any GB.  Giving these Whales such huge amounts and letting the interest compound for them was a huge mistake.  I hope new airdrop projects learn from this in the future.

Imagine how different the landscape would look if there was a limit placed at the beginning.  For instance, then maximum amount of BTC that could be credited for airdrop per wallet is 10 BTC or something. 

What do you expect from a lopsided distribution? Giving BTC holders free bytes will never be a good idea. They will be the price resistance levels in the years to come.

It was a brilliant idea initially. It generated a lot of hype and was the reason for the buzz around byteball. As Tony said, Bitcoin has reached its current distribution pattern after lots of twists and turns. Byteball got there straight away.


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September 18, 2017, 09:09:43 AM
 #13797

Future looks great for Byteball one can easily realize after watching the coll stuff being built on the platform. There will be rise of chatbots and byteball is already more advanced in this field than many others. It will take time for the project to lift up but success is sure in the end  that why I am holding all my bytes continuously.
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September 18, 2017, 09:30:27 AM
 #13798

*** WordPress Woocommerce Byteball gateway ***

Announcing the brand new 'WooBytes gateway' plugin official release on WordPress.org !

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Now accept Byteball bytes as payment currency with the first byteball Woocommerce gateway and get a minimum 10% cashback for all your sales (even not paid with bytes) by subscribing to the byteball cashback program !

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== Main features ==

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September 18, 2017, 03:11:18 PM
 #13799

Welfare just isn't what it used to be, amirite?

The bot told you what you were going to get and still you expected more?
...

Im complaining because I expected more, I can complain if I want. It was disappointment to link 5 figures worth of BTC and get like 20 bucks.

You can complain if you want, but Michail1 is right: the bot told you exactly how much to expect, so your expectations were incorrect.

At what are will one get gbyte now for X amount of gbyte hold?

Sorry I didn't quite get that


because i heard that that was the goal now, to incentivize holders

Yes, as in Byteball holders, versus Bitcoin holders.

And the first goal is to incentivize merchants, not holders.

well, at least I got 20 bucks, but the ones that did not dump [...]

So that's the idea right, claim free money, instadump it and whine when the golden goose turns the tap?

and got into the early rounds are going to be making a ton of money every month with the increased rates I predict.

So what the hell are you complaining about anyway?

You are wrong in everything sorry. The insane reduction in coins issued coupled with the increase of % current holders get is going to make things worse. You can't stop people from freely dumping their coins if they want. Im ok with early movers getting the best rewards but getting 50 bucks off 20 BTC linked doesn't add up, devs should re-adjust what they are doing and reconsider how they are dealing with the airdrop, but after so many changes in the airdrop it will become a joke.

This is why I like bitcoin over byteball when it comes to issuing the coins. Thanks to PoW the process is automated and decentralized and we don't need to trust some guy to properly issue the coins and (hopefully) not run away with them.
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September 18, 2017, 03:52:57 PM
 #13800


You are wrong in everything sorry. The insane reduction in coins issued coupled with the increase of % current holders get is going to make things worse. You can't stop people from freely dumping their coins if they want. Im ok with early movers getting the best rewards but getting 50 bucks off 20 BTC linked doesn't add up, devs should re-adjust what they are doing and reconsider how they are dealing with the airdrop, but after so many changes in the airdrop it will become a joke.

This is why I like bitcoin over byteball when it comes to issuing the coins. Thanks to PoW the process is automated and decentralized and we don't need to trust some guy to properly issue the coins and (hopefully) not run away with them.

Wrong about everything?  I'll counter that.  Quite simply, he expressed exactly what I said.  So, you're already wrong.

If I told you that every $5 you give me, I will give you $1 and you give me $5, how on Earth could you expect more or less than $1.  I told you exactly what you would get.  Being mentally ill is an excuse; however, math is math.   You have $5 for me?

Also note that there was NOT an increase in % current holders get.   It was a decrease from 20% to 10%.

Instead of complaining that BTC holders get even less than they did in the past, why not simply buy Byteball and get the above mentioned 10% bonus?

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