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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1164981 times)
Freefactomizer
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November 09, 2017, 11:17:25 PM
 #14981

I also will try to exchange my GBB with GB. I want to keep GB continuously even I don't want to make any transaction at the moment. I also am looking for the update on next distribution whether it be carried out or postponed for next month. Lot of things are being built which will bring value in future for sure with the increase of demand.

You can sell your GBB on http://www.beeb-bot.com

This resource can be trusted? First time I see that somewhere it is possible to sell blackbytes, except in wallet with the help of bot.

This one uses a bot too, it was the first blackbyte exchange launched.

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bobq
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November 09, 2017, 11:48:28 PM
 #14982

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.

I can understand that you want to remove the airdrop because it does not acquire new users anymore. However I think you should be careful not to lose existing users because of this. I think the majority of Byteball users are "people who have the wallet installed but are not using it often", as the Byteball economy is still in infant stage.

BUT these users are coming back on a regular basis because of the airdrops. They read this thread, the slack, the website, update their clients and such. The airdrops have been a big event that brings the Byteball community together at regular intervalls. Thats why the TitanCoin preICO was started at the airdrop date, because most people would notice it. It would be a waste to lose the conditioning of the Byteball userbase and the full moon meme that was so costly acquired.

So I urge you not to skip december airdrop or atleast have a replacement event. We already saw interest fainting when the last airdrop was skipped. There are lots of bling bling coins and christmas time coming up. For the average user its super easy to totally forget about your Byteball installation during two months if nothing is happening.

Well, sooner or later the airdrop will HAVE to stop anyway, when all coins will be distributed, and THEN if we continue with the old distribution method we would have a catastrophic landing. That landing we have already had, partially, in the past 2 months, as the people interested only in the airdrop has dumped. Now much better to use the remaining coins to be distributed to enlarge the adoption base, which is the only thing which can give more value to the coin long term.

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November 10, 2017, 02:08:47 AM
Last edit: November 11, 2017, 04:48:18 AM by NickCrypto
 #14983

Great Chart Gallery of Byteball Bytes on BitScreener

https://bitscreener.com/coins/byteball/chart_gallery


EnViRoNmEnT
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November 10, 2017, 02:36:46 AM
 #14984

Hey Guys! Can anybody help me? Just looked in my Byteball wallet and saw that I havent received my blackbytes yet but my Gbytes... Always used the same address and hadnt any problems in the past airdrops. What can I do?

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sailthor
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November 10, 2017, 05:40:47 AM
 #14985

Hey Guys! Can anybody help me? Just looked in my Byteball wallet and saw that I havent received my blackbytes yet but my Gbytes... Always used the same address and hadnt any problems in the past airdrops. What can I do?
Got the same issue!
https://bitcointalk.org/index.php?topic=1608859.msg24273995#msg24273995

I've sent a message to Tony, no reply yet.

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November 10, 2017, 06:45:23 AM
 #14986

Ahh oki, so it seems that i am not the only one with this issue. Please let me know once you heard anything from tony Smiley I am sure he will respond when he has time, because tony roxx Cheesy

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November 10, 2017, 07:04:02 AM
 #14987

Hey Guys! Can anybody help me? Just looked in my Byteball wallet and saw that I havent received my blackbytes yet but my Gbytes... Always used the same address and hadnt any problems in the past airdrops. What can I do?
Got the same issue!
https://bitcointalk.org/index.php?topic=1608859.msg24273995#msg24273995

I've sent a message to Tony, no reply yet.

Are you sure you didn't send any payments in these two months? When you do your change (what is left in your wallet) gets automatically transferred to a new address inside the wallet, so before the airdrop you have to relink it. BTW this is a mistake I have just done myself for this latest airdrop, and didn't get any blackbytes either.

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November 10, 2017, 08:11:10 AM
 #14988

Does this mean that every time I receive Blackbytes I have to do a full backup? If I will recover from seed, will I have 0 blackbytes?
Yes.
Best way to be safe is to use a multi-device wallet, then each time you receive blackbytes the private data are replicated among all your devices.
Use a 1 out of 2 multisig wallet to have a "live backup", see Byteball: Blackbytes FAQ for details.

My favourite analogy:
Think of Blackbytes as a post-it handed to you by the previous owner. The post-it says: "you are now the new owner". Together with handing you the post-it, the DAG registers that the previous owner is no longer the owner of these Blackbytes. The DAG does not register who received the post-it.
Now, if you lose this post-it, the previous owner can simply give you another post-it that says: "you are now the new owner".
If you want to give your Blackbytes to someone else, your post-it contains all the information you need to create a new valid post-it for the receiving user, and to register the change of ownership in the DAG.

Note that there's nobody to give you a new post-it if you sent part of your blackbytes, and lose the post-it that holds your change!

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November 10, 2017, 10:27:17 AM
 #14989

Does this mean that every time I receive Blackbytes I have to do a full backup? If I will recover from seed, will I have 0 blackbytes?
Yes.
Best way to be safe is to use a multi-device wallet, then each time you receive blackbytes the private data are replicated among all your devices.
Use a 1 out of 2 multisig wallet to have a "live backup", see Byteball: Blackbytes FAQ for details.

My favourite analogy:
Think of Blackbytes as a post-it handed to you by the previous owner. The post-it says: "you are now the new owner". Together with handing you the post-it, the DAG registers that the previous owner is no longer the owner of these Blackbytes. The DAG does not register who received the post-it.
Now, if you lose this post-it, the previous owner can simply give you another post-it that says: "you are now the new owner".
If you want to give your Blackbytes to someone else, your post-it contains all the information you need to create a new valid post-it for the receiving user, and to register the change of ownership in the DAG.

Note that there's nobody to give you a new post-it if you sent part of your blackbytes, and lose the post-it that holds your change!

1of2 multisig wallet is the best way, except for a 1of3 which is even better Smiley
And BTW thank you for this nice analogy for the blackbytes mechanism - very easy to grasp.

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November 10, 2017, 12:30:36 PM
 #14990

Does this mean that every time I receive Blackbytes I have to do a full backup? If I will recover from seed, will I have 0 blackbytes?
Yes.
Best way to be safe is to use a multi-device wallet, then each time you receive blackbytes the private data are replicated among all your devices.
Use a 1 out of 2 multisig wallet to have a "live backup", see Byteball: Blackbytes FAQ for details.

My favourite analogy:
Think of Blackbytes as a post-it handed to you by the previous owner. The post-it says: "you are now the new owner". Together with handing you the post-it, the DAG registers that the previous owner is no longer the owner of these Blackbytes. The DAG does not register who received the post-it.
Now, if you lose this post-it, the previous owner can simply give you another post-it that says: "you are now the new owner".
If you want to give your Blackbytes to someone else, your post-it contains all the information you need to create a new valid post-it for the receiving user, and to register the change of ownership in the DAG.

Note that there's nobody to give you a new post-it if you sent part of your blackbytes, and lose the post-it that holds your change!

1of2 multisig wallet is the best way, except for a 1of3 which is even better Smiley
And BTW thank you for this nice analogy for the blackbytes mechanism - very easy to grasp.
Yes, that's right when it comes to security through redundancy.
But you have to note the following: With each additional device also increases the risk of being hacked.
At 1 of 3 it is enough to hack one device. So if you manage serious volumes I would recommend 2 of 3.
This corresponds to a 2FA authentication.
If you change the password regularly you have a very high security level.
I also suggested implementing time and volume based payment terms.
This can reduce a loss if you were hacked. But you can also do many other things e.g. Pocket money, Prepaid ..
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November 10, 2017, 01:39:39 PM
 #14991

Does this mean that every time I receive Blackbytes I have to do a full backup? If I will recover from seed, will I have 0 blackbytes?
Yes.
Best way to be safe is to use a multi-device wallet, then each time you receive blackbytes the private data are replicated among all your devices.
Use a 1 out of 2 multisig wallet to have a "live backup", see Byteball: Blackbytes FAQ for details.

My favourite analogy:
Think of Blackbytes as a post-it handed to you by the previous owner. The post-it says: "you are now the new owner". Together with handing you the post-it, the DAG registers that the previous owner is no longer the owner of these Blackbytes. The DAG does not register who received the post-it.
Now, if you lose this post-it, the previous owner can simply give you another post-it that says: "you are now the new owner".
If you want to give your Blackbytes to someone else, your post-it contains all the information you need to create a new valid post-it for the receiving user, and to register the change of ownership in the DAG.

Note that there's nobody to give you a new post-it if you sent part of your blackbytes, and lose the post-it that holds your change!

1of2 multisig wallet is the best way, except for a 1of3 which is even better Smiley
And BTW thank you for this nice analogy for the blackbytes mechanism - very easy to grasp.
Yes, that's right when it comes to security through redundancy.
But you have to note the following: With each additional device also increases the risk of being hacked.
At 1 of 3 it is enough to hack one device. So if you manage serious volumes I would recommend 2 of 3.
This corresponds to a 2FA authentication.
If you change the password regularly you have a very high security level.
I also suggested implementing time and volume based payment terms.
This can reduce a loss if you were hacked. But you can also do many other things e.g. Pocket money, Prepaid ..

I completely agree with you. This is why for me I have tried su setup a multisig wallet 2of5, which in my view would have offered the ultimate security, as I would always need at least 2 devices to withdraw any funds. 2of3 would be too dangerous because if 2 devices would happen to fail you would lose all your funds. 2of4 would be OK but since one of my devices would have been a PC in another town I had to opt for a 2of5. However, in this case I had to face some problems which mobile wallets still have when going multisig - they would basically never correctly sync blackbytes, and ocasionally they would get totally stuck and possibly corrupted. I hope that mobile wallets will get improved in future, at the moment they are not very reliable.

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November 10, 2017, 08:11:31 PM
 #14992


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.

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.


I agree with this post.

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Freefactomizer
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November 10, 2017, 08:32:54 PM
 #14993

I completely agree with you. This is why for me I have tried su setup a multisig wallet 2of5, which in my view would have offered the ultimate security, as I would always need at least 2 devices to withdraw any funds. 2of3 would be too dangerous because if 2 devices would happen to fail you would lose all your funds. 2of4 would be OK but since one of my devices would have been a PC in another town I had to opt for a 2of5. However, in this case I had to face some problems which mobile wallets still have when going multisig - they would basically never correctly sync blackbytes, and ocasionally they would get totally stuck and possibly corrupted. I hope that mobile wallets will get improved in future, at the moment they are not very reliable.

With a 2 of 3 multisig wallet, you would still get back your funds if you have written down the seed of at least one of your 2 failed devices.

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November 10, 2017, 08:35:09 PM
 #14994

Freebe Blackbyte Exchange Report

  • 24h volume: 1541 GBB
  • Last trade: 100 GBB at: 0.0300

  • Best Ask: 0.03 (100 GBB)
  • Best Bid: 0.0305 (19.266 GBB)
  • Total GBB wanted: 3387
  • Total GBB for sell: 1832

  • Total volume all time: 58099 GBB
  • Total successful trades: 925



Partially traiding enabled! Instantly sell any amount of Blackbytes at the best marketprice.

Just type: sell <amount> <your address> for example: sell 1.45g QUVOQQRO42BWCUG7VH2G6W6CWFKTGGI4. For the amount you can use any unit, such as "g", "m" or "k".

More help, information and live data available at: http://freebe.byte-ball.com





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November 10, 2017, 11:16:45 PM
 #14995

Does someone have any clues on when the user created assets will start to be able to broadcast their name? I've understood that the latest wallet upgrade is a huge step in the direction of making it possible.

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November 10, 2017, 11:38:02 PM
 #14996

Could you explain newbie-tech guy what is the main difference between Byteball and IOTA network architectures? They are both DAG, non-blockchain solutions I suppose. GBYTE was distributed through airdrops and IOTA by an ICO. Am I right?   

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November 11, 2017, 01:02:51 AM
 #14997

Version 1.11.3 released https://github.com/byteball/byteball/releases

* Added support for user friendly asset names.  However you will see the names in the wallet only after we set up the registries.  More about it later.
* Fixed a bug that crashed some full nodes with the error "removing stable witnessed unit"
* Fixed a bug that prevented unlocking of deeply nested smart contracts
* Improved sync performance of full nodes: sometimes validation of a new unit took about 30 seconds, now reduced to roughly 100ms

The update is mandatory for full nodes.  After the restart, full nodes will take some time (about 5 minutes on SSD disks) to upgrade the database for better performance, be patient.

Simplicity is beauty
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November 11, 2017, 05:42:05 AM
 #14998

Hey Guys! Can anybody help me? Just looked in my Byteball wallet and saw that I havent received my blackbytes yet but my Gbytes... Always used the same address and hadnt any problems in the past airdrops. What can I do?
Got the same issue!
https://bitcointalk.org/index.php?topic=1608859.msg24273995#msg24273995

I've sent a message to Tony, no reply yet.
Just updated to the latest - the transaction appeared! Anybody else having trouble seeing their BlackBytes just try update the wallet

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November 11, 2017, 05:53:59 AM
 #14999

when will be the next airdrop? or there will be no more airdrops?
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November 11, 2017, 05:56:07 AM
 #15000

when will be the next airdrop? or there will be no more airdrops?
There are no more airdrops for people who do not know how to read a thread - that means you.

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