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Author Topic: BYTEBALL: Totally new consensus algorithm + private untraceable payments  (Read 1045454 times)
glerant
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Far Out, Man....


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September 08, 2016, 11:19:10 AM
 #141

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.

It's not so elegant if you look at some of the biggest players and their behavior.

I agree. It may be a simple method of distribution but it will lead to a grossly iniquitous distribution.
It won't even result in the tokens ending up with enthusiasts or building a community of passionate advocates.
So...... I'm out!



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September 08, 2016, 12:14:51 PM
 #142

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

yes, but if you buy tokens with real BTC its basically the same, someone with lots of BTCs will obv be able to buy more BBs than someone with less BTCs. thats how it works in cryptoland aka anarcho-capitalism.

one could obv opt for a model like NEM choose, but that leads to infinite fake accounts grapping 90% of the coins, so basically you are rewarding scammers which made tons of fake accounts just for stuff like that.
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September 08, 2016, 12:39:12 PM
 #143


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dannyman
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September 08, 2016, 12:55:07 PM
 #144

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.

It's not so elegant if you look at some of the biggest players and their behavior.

I agree. It may be a simple method of distribution but it will lead to a grossly iniquitous distribution.
It won't even result in the tokens ending up with enthusiasts or building a community of passionate advocates.
So...... I'm out!


Nonsense. Bitcoin distribution is by far the most extensive distribution in crypto....why do I even have to say this? Sure some whales will get more but they will get more of a much cheaper coin and what many here would define as a whale really owns only .01 of Bitcoin. The massive whales like Satoshi wont even participate. Anyone who has like 10million dollars in Bitcoin is likely to not bother, likely to not even see this offer and likely is enjoying snorting cocaine in a club somewhere to be trawling through this form.


Bitcoin has a very good distribution fact....please no more arguments about that. People think NEM had a great distribution with like 2,000 accounts lolololololololololol
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September 08, 2016, 01:03:50 PM
 #145

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.

It's not so elegant if you look at some of the biggest players and their behavior.

I agree. It may be a simple method of distribution but it will lead to a grossly iniquitous distribution.
It won't even result in the tokens ending up with enthusiasts or building a community of passionate advocates.
So...... I'm out!


Nonsense. Bitcoin distribution is by far the most extensive distribution in crypto....why do I even have to say this? Sure some whales will get more but they will get more of a much cheaper coin and what many here would define as a whale really owns only .01 of Bitcoin. The massive whales like Satoshi wont even participate. Anyone who has like 10million dollars in Bitcoin is likely to not bother, likely to not even see this offer and likely is enjoying snorting cocaine in a club somewhere to be trawling through this form.


Bitcoin has a very good distribution fact....please no more arguments about that. People think NEM had a great distribution with like 2,000 accounts lolololololololololol

What if just a couple of "whales" do participate? What will their agenda be?
dannyman
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September 08, 2016, 01:24:37 PM
 #146

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.

It's not so elegant if you look at some of the biggest players and their behavior.

I agree. It may be a simple method of distribution but it will lead to a grossly iniquitous distribution.
It won't even result in the tokens ending up with enthusiasts or building a community of passionate advocates.
So...... I'm out!


Nonsense. Bitcoin distribution is by far the most extensive distribution in crypto....why do I even have to say this? Sure some whales will get more but they will get more of a much cheaper coin and what many here would define as a whale really owns only .01 of Bitcoin. The massive whales like Satoshi wont even participate. Anyone who has like 10million dollars in Bitcoin is likely to not bother, likely to not even see this offer and likely is enjoying snorting cocaine in a club somewhere to be trawling through this form.


Bitcoin has a very good distribution fact....please no more arguments about that. People think NEM had a great distribution with like 2,000 accounts lolololololololololol

What if just a couple of "whales" do participate? What will their agenda be?


define whales. Do you mean someone might be able to own 2% of the coin!!!!! WOWOW like that doesn't ever happen.

The question is can anyone crash the Bitcoin market....yeah....but not by much and they would lose financially to do so in most cases. I admit if very few people participate and then one whale does it could be loppsided but like I said that is common in crypto anyway. I think the goal of the developer is right ie get as many people as possible to own it, he didnt say anything about striving for some egalitarian utopia.
PCindy
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“Best IoT Platform Based on Blockchain”


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September 08, 2016, 02:17:14 PM
 #147

When windows wallet 32 bits will be released?


     
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WorldCoiner
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September 08, 2016, 02:36:16 PM
 #148


Haha the first IOTA's fork.
That's a good sign.




Why are you always wrong about stuff?

Well Superresistant was, if I remember correctly, one of the initial investors of Nxt and IOTA – most of the other guys here not. This guy really financed a Lambo with cryptos, so I wouldn’t say he is always wrong about stuff, even this is not an IOTA clone here.

Altcoinspekulant: Deutscher Altcoinblog.
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September 08, 2016, 02:37:20 PM
 #149

Do you allow exchanges to attach btc to byteballs? Most of the coins are in their reserve. They will get more number of shares than individuals. Otherwise, you can also make a giveaway with exchanges.

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September 08, 2016, 02:37:26 PM
 #150


Haha the first IOTA's fork.
That's a good sign.




Why are you always wrong about stuff?

Well Superresistant was, if I remember correctly, one of the initial investors of Nxt and IOTA – most of the other guys here not. This guy really financed a Lambo with cryptos, so I wouldn’t say he is always wrong about stuff, even this is not an IOTA clone here.

true, nevertheless you can safely ignore about 95% of what he writes  Grin
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September 08, 2016, 02:38:55 PM
 #151

And this also design for the rich people, the more btc you have the more byteball you will get.

Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work

But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.

It's not so elegant if you look at some of the biggest players and their behavior.

I agree. It may be a simple method of distribution but it will lead to a grossly iniquitous distribution.
It won't even result in the tokens ending up with enthusiasts or building a community of passionate advocates.
So...... I'm out!


Nonsense. Bitcoin distribution is by far the most extensive distribution in crypto....why do I even have to say this? Sure some whales will get more but they will get more of a much cheaper coin and what many here would define as a whale really owns only .01 of Bitcoin. The massive whales like Satoshi wont even participate. Anyone who has like 10million dollars in Bitcoin is likely to not bother, likely to not even see this offer and likely is enjoying snorting cocaine in a club somewhere to be trawling through this form.


Bitcoin has a very good distribution fact....please no more arguments about that. People think NEM had a great distribution with like 2,000 accounts lolololololololololol

What if just a couple of "whales" do participate? What will their agenda be?


define whales. Do you mean someone might be able to own 2% of the coin!!!!! WOWOW like that doesn't ever happen.

The question is can anyone crash the Bitcoin market....yeah....but not by much and they would lose financially to do so in most cases. I admit if very few people participate and then one whale does it could be loppsided but like I said that is common in crypto anyway. I think the goal of the developer is right ie get as many people as possible to own it, he didnt say anything about striving for some egalitarian utopia.

It is very likely that one or few entities will end up with a huge part of supply. Let's say a mining company links a couple of thousand BTC to their share.
How many percent of total supply will they control (for free btw.)?
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September 08, 2016, 02:48:50 PM
 #152

There is no ideal distribution. We all know what has happened with the Nem-sockpuppet-System.
The System of tonych is relatively good if you compare it with others.
What I would do in addition, even if it doesn’t add a lot of value, making a cap, so that one BTC-address doesn’t receive more than 1% of all coins (or even lower)
Whales probably split their funds but at the very end they don’t know how much they need to split (They don’t know how much 1% is, if tonych keep the numers secret and open them just after the distribution process)
It’s also an additional instrument to avoid whining and screaming when the distribution process is over, like it always happen here and everyone here is sick and tired of.
Example”Look, there are 3 whales that got 25% of all coins, Byteball has a really unfair distribution”.
At least this sentence could avoided if you insert a maximum cap of probably max 1% for each BTC-address.

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September 08, 2016, 02:55:24 PM
 #153

What do to get real byteball?
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September 08, 2016, 03:06:43 PM
 #154

What do to get real byteball?

Wait until november when the livenet is live.

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September 08, 2016, 04:06:50 PM
 #155

There is no ideal distribution. We all know what has happened with the Nem-sockpuppet-System.
The System of tonych is relatively good if you compare it with others.
What I would do in addition, even if it doesn’t add a lot of value, making a cap, so that one BTC-address doesn’t receive more than 1% of all coins (or even lower)
Whales probably split their funds but at the very end they don’t know how much they need to split (They don’t know how much 1% is, if tonych keep the numers secret and open them just after the distribution process)
It’s also an additional instrument to avoid whining and screaming when the distribution process is over, like it always happen here and everyone here is sick and tired of.
Example”Look, there are 3 whales that got 25% of all coins, Byteball has a really unfair distribution”.
At least this sentence could avoided if you insert a maximum cap of probably max 1% for each BTC-address.


I agree, one should compare the system with the others available, rather with some idealistic TheAbsoluteGood.

Regarding capping, as you say, it is easily subverted by splitting the funds.  I'm going to run the claiming phase as transparently as possible and going to make the numbers public to track the progress.

I strongly believe that the best way to achieve a balanced distribution is by bringing in as many people as possible, both whales and regular bitcoin holders.  When we have a whale, the best way to dilute his share is by bringing another whale on board (or a crowd of average Joes).  This dilutes your share too, but remember that the value of the coin is proportional to the square of the number of active participants (Metcalfe's law), that's why you ultimately win.

Simplicity is beauty
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September 08, 2016, 04:32:07 PM
 #156

If my device (smartphone/android) lost and i have backup the seed wallet.
How to import old wallet address?

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September 08, 2016, 05:20:42 PM
 #157

How many devs are working on this project?
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September 08, 2016, 05:38:44 PM
 #158

If my device (smartphone/android) lost and i have backup the seed wallet.
How to import old wallet address?

Very good question. How would one import the wallet.dat for the phone app if phone was reset/crashed/bricked/smashed/thrown from a car window etc. 

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September 08, 2016, 07:13:21 PM
 #159

If my device (smartphone/android) lost and i have backup the seed wallet.
How to import old wallet address?

Very good question. How would one import the wallet.dat for the phone app if phone was reset/crashed/bricked/smashed/thrown from a car window etc.  

Wallet seed is not enough because private assets, such as blackbytes, are stored only in the wallet (exactly because they are private) and get updated every time you send or receive a private asset.

To secure against loss of the wallet, I recommend that you use multisig.  For example, 1-of-2 multisig with one wallet on the phone, the other on a desktop computer.  This way, the private assets will be automatically copied to the two devices.

Simplicity is beauty
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September 08, 2016, 07:17:53 PM
 #160

When windows wallet 32 bits will be released?

Try this https://github.com/byteball/byteball/releases/download/v0.1.1/Byteball-test-win32.exe.
Please let me know if it worked because I don't have access to a win32 machine to test.

Simplicity is beauty
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