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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1216741 times)
Freefactomizer
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November 07, 2017, 10:08:51 PM
 #14921

The owner of Osteria Il Trullo restaurant in Milan is doing great job expanding our cashback program.  He has recruited 12 new merchants in Milan in the area around his restaurant.



To get the cashback, you keep your fiscal receipt, walk to one of the two Distribution Points, and receive cashback in Bytes according to the amount on the receipt.

See details:
English: https://byteball.org/milan/
Italian: https://byteball.org/milano/


This is really good ! Maybe it's time for Byteball project to hire a press officer, and have this world premiere covered by mainstream press.

🏀 - ⚾ - ⚽ - ❄ - 🏈 -  Obyte Sport Betting Bot - 🏀 - ⚾ - ⚽ - ❄ - 🏈
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Gogo ppp
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November 07, 2017, 10:13:48 PM
 #14922

What is the difference between blackbytes and byteballs?

Is 1 GB of Byteball = 1 coin of Byteball?

It would be really helpful if there was an ELI 5 somewhere with simple answers to questions like this about the basics.

Perhaps there is but I missed it.
Coiner_
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November 07, 2017, 11:37:34 PM
 #14923

[-- snip --]

Gbb is private asset. Not sure if people want to trade that on exchange.

Yes they do. You too can buy and sell GBB on http://www.beeb-bot.com/
U talking about in wallet bot. I'm talking about exchange where you have public addresses. Gbb is private asset. There is no blockchain to track it. So therefore gbb is different than public assets/tokens or gbytes.

I agree with ByteFan here. Monero, Zcash, Zencash etc. all lay claim to the "best privacy crypto" title but unlike GBB they're all tradeable outside the confines of a wallet bot, on Bittrex no less. I'm not that knowledgeable on how it works so I have to ask: what is it, specifically, that makes having Monero on trex still private but not GBB?

Reading through answers like these and threads like this makes it appear like GBB isn't all that private and/or won't ever stop being a really niche privacy crypto.

Can I maybe get some sort of answer to this or at least a link to something I can read explaining it? This is the third time I'll be asking this with no answer.

What is the difference between blackbytes and byteballs?

The former is an anonymous, privacy crypto and the latter is not.

Quote
Is 1 GB of Byteball = 1 coin of Byteball?

ByteBall is the platform and GBYTE (GB) is the currency. 1 GB is, AFAIK, the standard unit like 1BTC and can be divided into fractions.

Quote
It would be really helpful if there was an ELI 5 somewhere with simple answers to questions like this about the basics.

Perhaps there is but I missed it.

I think the OP and website might be helpful.
statdude
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November 08, 2017, 02:30:59 AM
 #14924

I also agree the "ceased" distribution is concerning. So much uncertainly. Uncertainty = low price... read any stock book.

I could understand giving a clear plan now. To leave so much up in the air is unwise and spooks large holders.

My whole problem with ICO type coins (like this, suddently) is that the dev controls too much supply.

Price dump right ahead of this news = Insider trading? Not accusing dev of anything, but it is suspicious...

Oh well, it will all work out if dev keeps at the genius ideas buried here...

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CorePrime95
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November 08, 2017, 07:07:48 AM
 #14925

My whole problem with ICO type coins (like this, suddently) is that the dev controls too much supply.

Price dump right ahead of this news = Insider trading? Not accusing dev of anything, but it is suspicious...


1. No ICO here (except TitanCoin ICO which is a different asset)
2. GBytes to be distributed are visible on the DAG explorer address and not "being dumped"
3. Tony said he still wants to distribute the coins. Just doing an airdrop may not be the most effective way anymore, so needs to be changed.
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November 08, 2017, 07:40:42 AM
 #14926

We, people like me who did not move a single coin from the begining, are in hands of tony. We know he will do the best for long term, and that is what really matters here.

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them (except iconomi and lisk ones). And quitting btc airdrop.

I think we are 40% or so. It will slow down distro even more and should stabilize price, which is crucial if you want byteball to be a currency.
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November 08, 2017, 08:23:50 AM
 #14927

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them

~ and should stabilize price, which is crucial if you want byteball to be a currency.
You're contradicting yourself: to be a currency, it should be used. If you're only holding instead of spending, it's not a currency.

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November 08, 2017, 09:00:09 AM
 #14928

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them

~ and should stabilize price, which is crucial if you want byteball to be a currency.
You're contradicting yourself: to be a currency, it should be used. If you're only holding instead of spending, it's not a currency.
Fully agree.
Pointless to give something which is not usable at all. Then u will have full pockets of coins which are worthless.
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November 08, 2017, 10:28:02 AM
Last edit: November 08, 2017, 10:40:29 AM by cryptohunter
 #14929

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them

~ and should stabilize price, which is crucial if you want byteball to be a currency.
You're contradicting yourself: to be a currency, it should be used. If you're only holding instead of spending, it's not a currency.
Fully agree.
Pointless to give something which is not usable at all. Then u will have full pockets of coins which are worthless.

Don't agree. Let's be honest a currency is usually accepted to buy lots of useful things. There will be no confidence in this long term until full disbursement. Im surprised actually that bittrex listed it with the dev still holding so much and making unilateral decisions with no community consult.

I went to my shop to buy some useful things sadly i don't live in milan so they didnt hear about bb yet.

The only thing you can buy with bb is other crypto right now ie trading

It will be a long time before bb is a currency that is primarily used to buy "things" with. Lets take care of the distribution first so we can eventually buy things of worth without spending hundreds of gbytes.

I say continue distribution to those that have held bytball and not been shuffling and churning it on exchanges.

The distribution to me is a disaster of in so many ways ..certainly block off the known addresses of competing projects holding huge amounts of BB that was totally foolish giving it all to them so now we have to go stop distributing to the people that bought bb being told they would get future full moon airdrops just so we can fund our own development. In fact if i could vote for forking this and nulling their wallets i would. Take back our tokens and use them for development too. I mean why are we funding the development of projects competing against us I own LISK and KOMODO and probably a few others byte ball donated huge chunks of its minting too and still i think it is totally ridiculous.

I never heard such a crazy plan. Let's fund other projects competing against us so we cant fund our own plans.

Then let;s destroy real investor belief in anything the dev says in future by stopping their airdrops they probably invested in it for in the first place and held since the top which was  10x higher. If i had actually purchased this in june/july I would be pretty seething. Not only have I taken a 90% hair cut on my btc I am now not getting the meager 20 or even 10 percent recurring airdrops and the distribution is being strung out longer and longer and trust me most investors do NOT like the dev in sole control of such a huge percentage of the minting. The distribution should be finished in 3 months or less. Build in a development funding mechanism if you wish but holding back and controlling so much of the minting in such a centralised way is just another nail in this projects coffin.

Those who stuck up for this distributional model at the start must have rocks in their head. KNOWINGLY giving such huge funding to competing projects and exchanges is still unfathomable to me. Tonych never comments on it either. You basically KNOWINGLY just made your task magnitudes hard and drawn out.

Luckily it is the most novel project technically here except perhaps eth so it;s not dead but to get where is should have been already is going to take 10x longer and the vast profits on the way will be given away to other projects and exchanges.

What a waste of a great chance it has been so far.

I dont care if the rest of the tokens are burned right now. It is more damaging having them in the sole control of one person.

Better to create a development funding mechanism that creates a small % of tokens that are used according to a decentralised voting process.

If I could fork it and null the other competing projects known bb wallets I would do that too. We have no issue changing distributional methods we consider mistakes here. That was the largest mistake. Lets undo that. Im sure they would have more shame than to complain since its not even their BTC anyway.

Real investors (those that do their homework) do not care that the project has the best tech or best user case. They look hard at the distribution and risk of a shift of the value in btc and tech to another project or out in to fiat altogether. Right now byteball is high risk in that area. Forget looking at wallet numbers nobody knows how they are being split. All we know is at the start a small very small number of people took huge amounts of this coin which was then compounded. That is risky for market making and collusion and exit.

On top of that the dev holds 60% and makes unilateral non consulting decisions on those tokens.

This is super high risk right here. Also if tonych is a single coder not a group that is again super high risk.

Competing projects own huge slices of the minting.... that is never going to be a good thing. They have split interests sure they want to make money but they want their project to succeed.

All these things need to be addressed or minimised as much as possible if you want investors jumping in with both feet.


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November 08, 2017, 10:40:30 AM
 #14930

GBYTE value is decreasing day by day ?
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November 08, 2017, 10:42:00 AM
 #14931

DAG is revolutionary
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November 08, 2017, 12:34:48 PM
 #14932

I like this price rise today.
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November 08, 2017, 12:35:05 PM
 #14933

Syncing... 36 private payments left. PC is with i7, so power is not a cause. This is getting worse everyday, not only price of the coin.

It's an issue with the wallet.
2 ways to solve this.

1)  Send me your wallet and I will send it back repaired.
2) Create a new wallet on another device, send all your funds to it, then move the new wallet to your primary machine.
Nope these are not a solutions, just an ugly patch. What if these happens to 1000s of people, will you fix all these wallets? Then better write instructions how to do this.

Basically Tonych need to fix this ASAP on client. This is not a beta stage anymore. Wallet that can corrupt anytime, sound totally amateur.

I didn't say it was a solution to the problem or what causes it.  I said it was a way to solve the issue for you.
Your absolutely right.... the wallet can corrupt itself... Oh yeah, just like every other damn crypto wallet.  Need proof?  I can send you a bitcoin wallet that is corrupted with 25 bitcoins in it.

So, you can either solve the issue for yourself and be done with it, or not.  Tony isn't going to spend time on your wallet or try to fix every possible reason that could cause the issue which even includes restoring a full backup from prior to spending or receiving blackbytes.

Many other reasons for the problem.  So, hard to know which particular one is yours.

My problem was probably caused by blackbytes distribution, because beofre that wallet was working ok. I left program overnight and looks like that problem is gone. Also blackbytes from last distribution are now shown correctly.
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November 08, 2017, 01:02:13 PM
 #14934

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them

~ and should stabilize price, which is crucial if you want byteball to be a currency.
You're contradicting yourself: to be a currency, it should be used. If you're only holding instead of spending, it's not a currency.

I will be using when all coins are distributed. Even if Tony decides to stop airdropping to byte holders.

Rome was not built in a day.

I believe on this project since first time I heard about it. And people like me should be rewarded for our faith IMO.

Anyway, I would prefer to stop airdropping at all (and distribute remaining coins through cashback or another methods) rather than 10% to byte holders like as usual.
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November 08, 2017, 01:32:39 PM
 #14935

Now I understand the comparison with snowball. The farther it crashes the heavier it becomes to lift back up.
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November 08, 2017, 01:48:26 PM
 #14936

GBYTE value is decreasing day by day ?

If airdrops are over, expect it to crash hard, because many people were holding bytes just to get more every month, and now they will all dump, which is not bad, because those who really want to use byteball have a chance to get more bytes for cheap.
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November 08, 2017, 02:32:24 PM
Last edit: November 08, 2017, 03:21:48 PM by barborrico
 #14937

Seriously Tony, if you are planning january airdrop, you should do it only over wallets which did not move any single coin since received them

~ and should stabilize price, which is crucial if you want byteball to be a currency.
You're contradicting yourself: to be a currency, it should be used. If you're only holding instead of spending, it's not a currency.
Fully agree.
Pointless to give something which is not usable at all. Then u will have full pockets of coins which are worthless.

Do you want to encourage spending? Then it is easy: no airdrop and cashback only if you pay on bytes.

Do you want to encourage spending, reward true believers on bb and distribute coins faster while stabilizing price? Then it is easy: airdrop for coins held since distro (excluding ico wallets) or cashback.
This option will drive price up thus attracting attention.

Simple, man.

EDIT: if the purpose of free distribution is getting more users, then:
1. Cut airdrop to btc and byte holders.
2. Cashback program is fine for that purpose as it is now.
3. Free amount of bytes:
  -  by installing wallet and linking with phone number (or any other anticounterfeit method)
  -  by doing social actions.
4. More marketing.
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November 08, 2017, 03:05:52 PM
 #14938

I also agree the "ceased" distribution is concerning. So much uncertainly. Uncertainty = low price... read any stock book.

I could understand giving a clear plan now. To leave so much up in the air is unwise and spooks large holders.

My whole problem with ICO type coins (like this, suddently) is that the dev controls too much supply.

Price dump right ahead of this news = Insider trading? Not accusing dev of anything, but it is suspicious...

Oh well, it will all work out if dev keeps at the genius ideas buried here...
This is not an insider pump. Byteball has rock-hard big holders and a lot of enthusiastic fans who are not just looking for a quick profit (Byteball is tech sexy and has a nice nerd factor).
So even a relatively small demand leads to sharply rising prices.
No dump happens in the top 100: Before the 10th distribution, 35% of the distributed bytes were aggregated in the Top 100 (30% in the top 50 alone).
After the 10th distribution, 39% can be found in the top 100 (33% in the top 50).

The dump after the distribution is happened because some people participate with borrowed money, to increase their profit. They need a quick refinance, but since there is a lack of demand after the distribution, the price always maks a dive - > panic -> dump
This looks dramatic in the chart and creates depressive mood, but here act small traders with small traders (At the top, only .5% of the capitalization is traded), one fool is fooling the other Smiley
Byteball's ecosystem is still a pond, a whale can’t move here without displacing all water:) + kill his investments / free money -maybe in 3 years.

The rapid increase this year, unfortunately, makes for completely excessive expectations. Nobody remembers the years before:


In face of this charts, I also dealt with the TC-ICO. I thought some diversification towards real world investment could not hurt.
Back to Byteball:
Byteball is where BTC was 4 years ago.
The distribution must be slowed down and gentle phased out - it has served its purpose (i.e. 20% interest a year should be enough to pay for the loyalty.)
In other words, it makes no sense to pour gasoline into the fire when everyone is already blinded and primarily zombies will attracted..
Every major investor will also realize that the negative side-effects should not exceed interest rates given by the distribution.
In this regard, Tony only secures the existing investment and ensures continuous development.

Now that Byteball is well known, we need active people who initiate the real world transformation and attract people outside of the Cryptocosmos.
A high interest rate for the merchants and developers would probably be also effective here.
This will not bring the fast breakthrough, but it increases the chances of finding stronger real world partners and awareness (Headline "Mysterious nerd currency is spreading") In addition, we can learn a lot to harden the technology..
I would even say that Byteball could become a very strong brand, if we find good partners and handle things carefully and strategically. Byteball has a certain authenticity and stands out from the crowd. Byteball is what BTC used to be – it’s avant-garde.
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November 08, 2017, 04:31:02 PM
 #14939

Our web site is partially translated into several languages:

Russian: https://byteball.org/index.html.ru
Chinese: https://byteball.org/index.html.zh
Japanese: https://byteball.org/index.html.ja

Please contribute to translations through crowdin: https://crowdin.com/project/byteball-web

Simplicity is beauty
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November 08, 2017, 06:16:19 PM
 #14940

You should consider to let the web page translate into German as well. Germany, Austria and Switzerland have a fast growing community of crypto investors and Byteball has covered positively in several influential blogs. Maybe you should take a part of the airdrop stake to spend for bounties like translating the web page or to build up and promote the Byteball wiki.

Our web site is partially translated into several languages:

Russian: https://byteball.org/index.html.ru
Chinese: https://byteball.org/index.html.zh
Japanese: https://byteball.org/index.html.ja

Please contribute to translations through crowdin: https://crowdin.com/project/byteball-web


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