Obyte: Totally new consensus algorithm + private untraceable payments

[byteball3r]

cryptohunter, a retroactive snapshot would have blacklisted exchange coins for example, and also caused numerous other problems. Furthermore many holders have their BTC split between addresses already. Giving large BTC holders bytes was a good idea, not perfect, because they may also buy bytes on the open market or support it in other ways. Many of the *largest* BTC linkers haven't sold a GB. Anyway all has been said and done.

The suggestion to distribute to ETH holders is not to make ETH holders richer, but to market and distribute the coin to a larger audience. It is just a suggestion and I believe tonych has not taken it up because it is logistically difficult.

If you look at the market history on bittrex, it shows that around 500,000 GB has changed hands there. Many GB have been distributed from people who don't want them to people who do. You may have taken a 80% haircut to your BTC (counting distributions) which only is a 50% haircut to your USD, but that is not actually that horrible for a crypto investment which is very risky. It is a good thing in the long run that the price has been low so people who want to buy it can.

You were never promised airdrops for the entirety of the supply. It would actually be foolish to do that at this point price and value-wise, because that would inflate the supply more without guaranteeing the future of the project. It would be better to receive 25% on top of existing balances with remaining supply used for more useful things to help the project, than 50% on top of balances making the price 33% less and have the project fade away.

[Michail1]

Anyone having issues with the byte ball wallet?

Keeps saying "syncing"

I'm guessing you are one of those people that picked a full node, because...  Well, I bet you don't know why.  Had you picked lite wallet, it would take a second or two.

In which country this will be working? This will be for limited countries?

Byteball isn't limited by country or world.  Even Aliens can partake... you know, if they're connected to Earth's internet.

Interesting to see that the price has dipped as usual following the airdrop even though it didn't rise much this time.
Byteball needs better community more investors to go it big.

It was expected.  It's done the same thing the last 6 distributions or so.  This time is was also expected since ALL alts are dropping.

However this great work of his is getting killed by his not so great idealistic distributional model.

Disagree completely. If it wasn't for the airdrop, I would likely never have heard of the project.

I agree.  I still didn't find it myself.  Someone told me about how I could get free tokens and sell to get free bitcoin.  So, I linked, and received byteball.  But, I read the whitepaper and decided I liked the concept and never sold a single one.  If I was in it for the money alone, I would have made a poor decision by not selling.  So, either I am not in it for the money, or I like the idea.

....., but if you look a little closer very few of the really big holders have made any kind of move. it's all still sitting there.

I completely agree.  I haven't moved any from primary wallet(s), but I have played with others for testing.   Never sold any.

[Anthony1985]

I got the bytes from the airdrop but didn't the the blackbytes,were they already distributed?

[CryptKeeper]

I got the bytes from the airdrop but didn't the the blackbytes,were they already distributed?

The distribution of Blackbytes is still ongoing, can take a few days.

[Marc De Mesel]

...
I'll decide and announce the plans for future distribution around mid-November.  But it is already certain that we skip the December full moon.  The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently.  That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more.  Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow.  Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.

Agreed, the efficiency of the airdrop decreases. It takes more people to fill the coin with value through their work.
...but they need a reward

Great news Tonych  


I was worried the distribution would continue as is.

Agree with you and kola that remaining bytes/blackbytes are much better used for distribution schemes that attract more users per spend byte, as well as pay devs that develop things.

I liked very much your idea of some free bytes for everyone that installs the wallet.


What concerns me most though is the lack of sustainable business model.

How will devs and other needed development and marketing expenses be payed once the limited stash is gone?

I don't believe dependency on donations works well. Only a few donate and pay for the bills for all coinholders.

After a while conflicts arise and the model in the end is changed, as is happening to Bitcoin, Nxt, Bitshares and so many others.


Think Dash, Decred, ZCash have solved this problem well by having an unlimited inflation where a piece of it continues to go to the dev/marketing.

However with a limited supply like Byteball I see only 2 solutions, break that agreement like Bitshares did and issue more coins, or abandon the project and build a new one with new tokes like Nxt did with Ardor, or much better and not tried yet to my knowledge, have a piece of the transaction fees go to a fund that pays for these things.

A hard problem to solve. Curious in your opinion on this.


In any case, thank you so much for everything. Love what you have build!!!  

[Anthony1985]

I got the bytes from the airdrop but didn't the the blackbytes,were they already distributed?

The distribution of Blackbytes is still ongoing, can take a few days.

Thanks a lot for clarifying. It’s my first Airdrop so I didn’t really know how it works

[naocb]

Distribution of Bytes is now finished.
61,299.720840161 GB distributed
645,222.052937914 GB is available supply after the distribution.

Distribution of blackbytes will start in a few hours and will take a few days, be patient.  I'll post here when it is complete.

I'll decide and announce the plans for future distribution around mid-November.  But it is already certain that we skip the December full moon.  The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently.  That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more.  Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow.  Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.

Monthly distribution successfully acquired tens of thousands of new holders, but at the same time bytes always oversold badly. Short-term sellers enjoy their free lunch, while hodlers have suffered most. That's not healthy thing for the community...
Not sure the cashback program is the best way, but i agree that we should use precious resource for more productive way.

[superresistant]

What concerns me most though is the lack of sustainable business model.
How will devs and other needed development and marketing expenses be payed once the limited stash is gone?
I don't believe dependency on donations works well. Only a few donate and pay for the bills for all coinholders.
After a while conflicts arise and the model in the end is changed, as is happening to Bitcoin, Nxt, Bitshares and so many others.
Think Dash, Decred, ZCash have solved this problem well by having an unlimited inflation where a piece of it continues to go to the dev/marketing.

I don't understand why you say that you don't believe dependency on donations works well and name Bitcoin as an example. It is the proof that a project can be successful without business model even though I do not recommend Byteball or any project to be like Bitcoin.
Conflicts are a consequence of success and high valuation, there are no conflict when a project has no value. See Tezos for example, one of the highest ICO ever and already a conflict before it's release. I think it will turn well for them because the class action is very likely to fail but in the meantime, Tezos enjoyed one of the highest buzz in all the ecosystem and became the most anticipated project.

However with a limited supply like Byteball I see only 2 solutions, break that agreement like Bitshares did and issue more coins, or abandon the project and build a new one with new tokes like Nxt did with Ardor, or much better and not tried yet to my knowledge, have a piece of the transaction fees go to a fund that pays for these things. A hard problem to solve. Curious in your opinion on this.

Interesting but I don't think it's a problem of busines model or funding at this point. In fact there is a business model to fund development since the start : 1% of all supply + 1% (forgot what was it for) + control over the undistributed supply which represent 35.5%. That is more than enough to fund almost anything.

From outside, the greatest Byteball innovation was, and I'm sorry for all the dev work, the airdrop distribution. It is still the biggest trend in crypto but it was too easy to copy for thousands of shitcoins that took all of Byteball network effect.

What about growing the team and partnerships ? Iota is spamming non-stop those weird new team members and partnerships between downtime, fatal flaws and emergency bug-fixes. They are so good at narrative that people keep cheering non-stop. It's all about the narrative, telling stories, sharing a vision.

[Trollollo]

Anyone having issues with the byte ball wallet?

Keeps saying "syncing"

It takes long time to sync the data.

[Trollollo]

I would say do this

his game. his rules. if it isn't working how he wants then he should change it.

i agree that the distribution method so far has been kinda silly, but if you look a little closer very few of the really big holders have made any kind of move. it's all still sitting there.

Well if that is the case my later suggestions will work great.

Reward the loyal but not the super rich loyal who have been rewarded quite enough already.

The rest of the short term traders and churners can eat cake.

The rest goes for development.

I realise his game his rules but you keep changing the rules people start to wonder if they are the game.

If it isnt working already then perhaps his own council is not his best.

I think tonych is great and I am quite a fan. However this great work of his is getting killed by his not so great idealistic distributional model.

I would love him to explain to me why he never just nulled the top 2% of btc claiming wallets or even top 5% and done a retrospective snapshot from there?
I mean answer me this so that i can follow it and understand and i will double my efforts to support byteball.

There must be a good reason but I can not find it without his help. I find it impossible to believe someone so smart would do something like that at face value. There must be a deeper reason i can not fathom with my limited mind.

I think,Tonych is smart enough.For him the result is more important as the game.

[superresistant]

 
People crying about distribution are so hypocrite, it's mind-blowing. They're all greedy like all others but don't bring anything to the table except noise and uninteresting discussions. Why do you guys even reply to them ?

There is no free lunch. If you're still poor after years in crypto there is no reason it'll ever change and that's not a distribution problem : you are the problem.

[Fasdata]

I got the bytes from the airdrop but didn't the the blackbytes,were they already distributed?

Black will be distribute a few days later.

[BuyingFast]

Distribution of Bytes is now finished.
61,299.720840161 GB distributed
645,222.052937914 GB is available supply after the distribution.

Distribution of blackbytes will start in a few hours and will take a few days, be patient.  I'll post here when it is complete.

I'll decide and announce the plans for future distribution around mid-November.  But it is already certain that we skip the December full moon.  The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently.  That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more.  Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow.  Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.

Tony, you need to make it clear what's going to happen, and at what time, with all the distributions that are left. You can't just decide whenever you feel like it. Trust goes down even more.

You also need to stick with whatever you're deciding.

[o0o0]

Distribution of Bytes is now finished.
61,299.720840161 GB distributed
645,222.052937914 GB is available supply after the distribution.

Distribution of blackbytes will start in a few hours and will take a few days, be patient.  I'll post here when it is complete.

I'll decide and announce the plans for future distribution around mid-November.  But it is already certain that we skip the December full moon.  The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently.  That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more.  Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow.  Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.

Tony, you need to make it clear what's going to happen, and at what time, with all the distributions that are left. You can't just decide whenever you feel like it. Trust goes down even more.

You also need to stick with whatever you're deciding.

he always has. did you not read page 1 that says he reserves the right to change the distribution amounts, times and methods. its others including yourself that overlooked that text and decided thats how he’ll do it. read.... read... read before making such misinformed statements.

[tyz]

where I can find a good calculator to see how much I can earn with each airdrop from byte ball?
I never used this system unfortunately I have lost a lot without claiming

The transistion bot tells you what you receive in Bytes and Blackbytes based on the linked Bitcoins and your owned Bytes. It also tells you what you get for each owned GB and for each linked BTC. It is pretty easy to find out with simple math.

[cryptohunter]

People crying about distribution are so hypocrite, it's mind-blowing. They're all greedy like all others but don't bring anything to the table except noise and uninteresting discussions. Why do you guys even reply to them ?

There is no free lunch. If you're still poor after years in crypto there is no reason it'll ever change and that's not a distribution problem : you are the problem.

says the dumb ass who called out eth as a scam going nowhere before launch ( the others that will misinform you)

I see you involved in most scams here (not that byteball is a scam) i see now you have dumped your iota sack since that is not listed in your sig.

The clear negatives of a distributional model like this are all t0o apparent now.. it is irrelevant whether the person pointing out the obvious is a btc whale or not. The observable events can not be altered regardless. The market price for this will be in the hands of very few people who grabbed most of it for nothing and compounded what they got on the first distribution. That is never a good way to start a trustless decentralised project.

There is no doubt that instead of giving the huge bulk of bb to opposing projects, and exchanges was not a good idea since now we need to do a total 180 degree on what was stated and what more than likely people invested in bb on the basis of.

There is no reasonable defense of this distributional model so far.

Now having said that I think BB will succeed and go on to be a top 10 project but now it is going to take lot longer and take a lot more effort.

When I see things that make no sense from a person that is obviously very smart I also get very suspicious. The fact he was never open to discussion nor any kind of movement on this distributional model makes me believe he was very motivated to see it go like this. Of course I do suspect tonych is indeed a btc whale too but that is just speculation and I have no issues with devs being highly motivated for their own project anyway within reason.

[CorePrime95]

But why do you see the whales as potential enemies of BB? If I was a whale of BB, I would want the price to go up and not down

[bitjoin]

How long do confirmations take for byteball, is there anywhere i can view the transactions confirming?

[cryptohunter]

But why do you see the whales as potential enemies of BB? If I was a whale of BB, I would want the price to go up and not down

What if every new alt was given mostly to whales for free with no need to risk any of their bitcoin stash?

Even in a fair ICO whales must risk their btc stash to get a whale share of the tokens.

Whales should get the same as everyone else not automatic whale shares in all future projects for free. The very notion of this is ludicrous.

It is probably the most unfair distributional model other than a full on scam


It is not as simple as you think either. If a coin is not distributed well and there are super whales these whales control and make the market. Even if there eventual game is for higher prices they can cause huge periods of crushingly low prices and then super peaks when ever they want it is impossible to trade against them really. It is not natural well distributed market forces it is simply the will of a handful of people. Their will is to extract as much wealth from everyone else including other holders of their same alt project by market making.

I don't see how we are even debating this is a good way to distribute i mean it is clearly not a good way at all.

Same for these BTC forks they are simply a way for the btc whales to get free whale shares in every new alt (these forks are alts until they become the
prime btc)

I don't see bb as a scam i just see it a great piece of work hampered by a crazy model for distribution that just keeps getting more and more insane. You will end up annoying those now that bought BB from the market place counting on an air drop on full moons that now get a 90% hair cut on their btc and no more airdrops. The reason for this air drop culling is because we need the coins for development. So we piss of genuined investors because we gave most of it to our competition and exchanges and the super rich that should have been forced to buy these huge chunks of bb but got it for free and dont need to buy in now.

This is full crazy from all angles. People will not want to invest on the basis of holding for airdrops so even less incentive to invest now.

I await a masterplan or ace up the sleeve where this entire distributional model all makes perfect sense. Since no doubt tony must have had a reason for this path.

Having said all of that - this is still a CLEAR buy at these prices and I am picking up more.

The ico process looks like a winner and if atomic exchanges are possible then this is totally undervalued even with the madness of the distribution.

[Michail1]

where I can find a good calculator to see how much I can earn with each airdrop from byte ball?
I never used this system unfortunately I have lost a lot without claiming

There is no way a calculator can figure it out, since the numbers you would be feeding it would all be guess work.
If such a real calculator existed, then everyone and no one would make money.

You didn't lose anything since you didn't try or consider getting anything.  You simply missed out.  There is always someone later than you.

But why do you see the whales as potential enemies of BB? If I was a whale of BB, I would want the price to go up and not down

Exactly.   Holders never want the price to go down --- unless it temporary because they want to pick some more up

How long do confirmations take for byteball, is there anywhere i can view the transactions confirming?

It's not a set time.
So, sometimes it's minute apart, and sometimes 15.   Just guessing.
Would be nice to see a stats page.  Might already exist, and if so, I would like to see it.  (Link anyone?)