Obyte: Totally new consensus algorithm + private untraceable payments

[Freefactomizer]

Many thanks for the answer.

I have another question: In the comparison there is 30 second of maximum (theoretical) time for confirmation. However some say, that currently it takes longer, 1-2 minutes or even more. Is it possible to reduce the time in the future?

To get your transaction confirmed, you need that a majority of witnesses post a transaction after yours. Since the witnesses also pay fees for their transactions, they need to wait that enough transactions has been posted for collecting enough fees in order to not lose money. That's why the network isn't working at full speed yet, confirmation time will become better along with number of transactions increases.

[xlcus]

Where can I find the new distribution method?
Is it out?
I can't find it in the Tony's posts.

It looks like the new one will distribute the left byte via email/textcoin?
What about the Gbyte holders?

[KwiZ]

Hi, I have read the whitepaper and as I can understand, the price of a byte should be approximately corresponding to the cost to store one byte of unit data in the decentralized database. So should we expect that Byteball's price will be stable and does not increase much, even decrease over time because the cost of data storage will obviously decrease over time as the technology advances?

[StandingTall]

Hi, I have read the whitepaper and as I can understand, the price of a byte should be approximately corresponding to the cost to store one byte of unit data in the decentralized database. So should we expect that Byteball's price will be stable and does not increase much, even decrease over time because the cost of data storage will obviously decrease over time as the technology advances?

No, you misunderstood the rule. The cost of storing data is equal to the amount of data you want to store in bytes. How much 1 byte costs depends on the market conditions on exchanges.

Example:

1 megabyte of byteball bytes costs 100 USD on exchanges. The cost of storing 1 megabyte of data in the byteball system is equal to 100 USD.

1 megabyte of byteball bytes costs 1000 USD on exchanges. The cost of storing 1 megabyte of data in the byteball system is equal to 1000 USD.

How much a harddrive costs doesn't matter here.

[KwiZ]

Hi, I have read the whitepaper and as I can understand, the price of a byte should be approximately corresponding to the cost to store one byte of unit data in the decentralized database. So should we expect that Byteball's price will be stable and does not increase much, even decrease over time because the cost of data storage will obviously decrease over time as the technology advances?

No, you misunderstood the rule. The cost of storing data is equal to the amount of data you want to store in bytes. How much 1 byte costs depends on the market conditions on exchanges.

Example:

1 megabyte of byteball bytes costs 100 USD on exchanges. The cost of storing 1 megabyte of data in the byteball system is equal to 100 USD.

1 megabyte of byteball bytes costs 1000 USD on exchanges. The cost of storing 1 megabyte of data in the byteball system is equal to 1000 USD.

How much a harddrive costs doesn't matter here.

Hmm I read the section 1 Introduction/Exchange rate of the whitepaper, and it seems to address the volatility problem of bitcoin price (in the very first sentence), says with byteball there will be a "negative feedback" process like commodities or bounds, which keeps the price back to reasonable range if it goes too far, doesn't it?

It is a measure of the utility of the storage in this database, and actual users will have their opinion on what is a reasonable price for this.  If the price of byte rises above what you think is reasonable for your needs, you will find ways to store less bytes, therefore you need to buy less bytes, demand decreases, and the price falls.  This is negative feedback, common for all goods/services whose demand is driven by need, not speculation.

Though I haven't really understood how this negative feedback really works: "If the price of byte rises above what you think is reasonable for your needs, you will find ways to store less bytes, therefore you need to buy less bytes, demand decreases, and the price falls" --> how can regular users who suffer from high fees try to store less bytes? Doesn't the stored bytes depend on the architecture and the code instead of the regular users who send the transactions?

[bottacoin]

*** BinaryBalls trading report ***

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Contracts made: 3553 MBytes traded: 90664 Winning contracts: 1941 Global payout rate: 97%

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Rank 1: RBAMD7 (330 MBytes 24h net profit with 5 contracts) Rank 2: VJ5OES (315 MBytes 24h net profit with 15 contracts) Rank 3: PH627A (292 MBytes 24h net profit with 16 contracts)

Will you manage to be on the best rush traders list ?

https://byteball.fr/bandeau.png

BinaryBalls.com
1st Binary Options Trading Platform with Byteball Bytes

[Pinstripe]

Hey ByteBall Fans,

I was just goofing with Photoshop and I came up with this:

What do you think?

Don't want to step on anyone's toes, especially silvercatman on Reddit who is doing an awesome job (and deserves the credit for this inspiration), but I thought it was interesting and wanted to share. Obviously if we used something like this we would refine the messaging and tidy things up a lot (this is not a final version by any means)

cheers. pinstripe.



Additional References:
https://bitcointalk.org/index.php?topic=1608859.msg28035225#msg28035225 - let's get past our squabbles - we have work to do.
https://bitcointalk.org/index.php?topic=1608859.msg28085267#msg28085267 - some really cool distribution possibilities - I think anyway - more on this later.

[Pinstripe]

Hey ByteBall Fans,

I was just goofing with Photoshop and I came up with this:

What do you think?

Don't want to step on anyone's toes, especially silvercatman on Reddit who is doing an awesome job (and deserves the credit for this inspiration), but I thought it was interesting and wanted to share. Obviously if we used something like this we would refine the messaging and tidy things up a lot (this is not a final version by any means)

cheers. pinstripe.



Additional References:
https://bitcointalk.org/index.php?topic=1608859.msg28035225#msg28035225 - let's get past our squabbles - we have work to do.
https://bitcointalk.org/index.php?topic=1608859.msg28085267#msg28085267 - some really cool distribution possibilities - I think anyway - more on this later.

Oops, that didn't work out quite like I hoped

newbie account. oh well, what can one do...



Anyways, we can purchase the image here if we like it: https://www.fotosearch.fr/CSP990/k11114953/

cheers.

[kola-schaar]

Where can I find the new distribution method?
Is it out?
I can't find it in the Tony's posts.

It looks like the new one will distribute the left byte via email/textcoin?
What about the Gbyte holders?

https://byteball.org/ -> conditions and timer for next Distribution

The classical distribution to Byte and BTC holder will slowly fade out:
https://bitcointalk.org/index.php?topic=1608859.msg24965637#msg24965637

The focus is shifting towards focus marketing / sponsoring:
https://bitcointalk.org/index.php?topic=1608859.msg28047149#msg28047149

Textcoin will surely be an important tool for transporting Byteball into the real world.
https://bitcointalk.org/index.php?topic=1608859.msg27855312#msg27855312

[Pinstripe]

Hey ByteBall Fans,
I was just goofing with Photoshop and I came up with this:

What do you think?

Don't want to step on anyone's toes, especially silvercatman on Reddit who is doing an awesome job (and deserves the credit for this inspiration), but I thought it was interesting and wanted to share. Obviously if we used something like this we would refine the messaging and tidy things up a lot (this is not a final version by any means)

cheers. pinstripe.

Additional References:
https://bitcointalk.org/index.php?topic=1608859.msg28035225#msg28035225 - let's get past our squabbles - we have work to do.
https://bitcointalk.org/index.php?topic=1608859.msg28085267#msg28085267 - some really cool distribution possibilities - I think anyway - more on this later.

Oops, that didn't work out quite like I hoped
newbie account. oh well, what can one do...

Anyways, we can purchase the image here if we like it: https://www.fotosearch.fr/CSP990/k11114953/

cheers.

Wow, all kinds of issues getting this image up:
last try:

[ByteFan]

Does anybody know how many Byteball addresses with a positive Balance?

35757

Doesn't seems a lot ,does it? i was expecting something above 100k

There is a optionnal convenient end user feature in the wallet which is "single address wallet" (do not use a fresh change address when sending bytes). Therefore you may not see as many new addresses generation with Byteball as you see with bitcoin (talking mainly about change addresses). The result is less dust for the network (but also less balanced addresses).

[zaliass]

Hi All,

Newbie on Forum = YES!
Crypto < 6 months Byteball < 2 months.

Wanted to post that since stumbling across ByteBall I have fallen for it, spread the word to my friends & family by donating some bytes and managed to get a few of them on board while a few others need more time We get involved sending money to eachother, chatting and using the bots.

I had a few questions in regards to the project. I work as a securities trader and the CFD trading bot has really caught my eye. ( yes i know how much all of you hate banks/corporations but it all needs to start somewhere).
My questions were:
are we expecting to see more cryptos to trade CFDs vs BB?
are we likely to see a CFD platform on financial products / indices / commodities  vs BB or fiat and the payout would be in BB?

Also, for my betting if the specific bet is on Bettingbot i will certainly go through there otherwise just use my own betting site.
What is the capacity here in growing out the markets for each betting event (Over x goals, under x points)? I know there's a way to make the contract yourself ( Haven't had the time to explore this due to my time constraint) but adding this to the BettingBot would be super cool  

I understand with the amount of work ongoing and all the avenues being explored this isn't on the priority list but just a thought.

Overall, love the project.

Peace

You will enjoy https://binaryballs.com/ (Binary Options Trading with Byteball Bytes) too

Love it! Let's see if we can get in the best rush for next month

Hi All,

I'm the dev and operator of these 2 chatbots, I'm glad you like them !

Currently the CFD-trading bot takes coverage by selling/buying on Bittrex with my own holdings, as you can guess I don't hold much cryptos thus the choice is limited. In the future, we can imagine a lending market but for now I prefer to be responsible only for my own money.
I thought about introducing stock indices but the problem is that the financial coverage would need a conversion to fiat which would trigger a fiscal event for me (and I live in a fiscal evil...).

About the betting-bot I want to keep them as simple as possible for now, I don't want to confuse players with kinds of bets that are not common in their country.

I love the idea for the CFD-trading and appreciate the effort. I was wondering how sustainable this is in terms of trading costs for yourself? How scalable is this? I assume if more people start using the funds you may in theory use up your funds held on the exchange (never know may hold a silly amount) and no additional contract would be taken out.

[CryptoRobert]

Where can I find the new distribution method?
Is it out?
I can't find it in the Tony's posts.

It looks like the new one will distribute the left byte via email/textcoin?
What about the Gbyte holders?

https://byteball.org/ -> conditions and timer for next Distribution

The classical distribution to Byte and BTC holder will slowly fade out:
https://bitcointalk.org/index.php?topic=1608859.msg24965637#msg24965637

The focus is shifting towards focus marketing / sponsoring:
https://bitcointalk.org/index.php?topic=1608859.msg28047149#msg28047149

Textcoin will surely be an important tool for transporting Byteball into the real world.
https://bitcointalk.org/index.php?topic=1608859.msg27855312#msg27855312

I guess some news about the new distribution methods are due to be released any moment. I remember Tony mentioning it would be announced after the holydays.

[megashira1]

Is it fair to say that blackbytes are byteballs + privacy? If this is the case why are blackbytes not worth more?

[Disbeliever]

Is it fair to say that blackbytes are byteballs + privacy? If this is the case why are blackbytes not worth more?

Coz blackbytes are peer to peer only and its harder to use them. So blackbytes differ considerably from simple bytes. Also, nobody really cares a lot about privacy in crypto nowdays.

[Apraksin]

Is it fair to say that blackbytes are byteballs + privacy? If this is the case why are blackbytes not worth more?

Blacbytes are almost akin to using cash, so they are very good for privacy.The main reason IMO they are not more known is that they are not listed at exchanges.

[zeoflavius]

By all accounts, Byteball will regain its lost position, the growth in the price is more than impressive. Real use of coins in business only gives it popularity.

[Birkensekt]

look at coinmarketcap, byteball seems to be listed on upbit.com

[vlom]

Is it fair to say that blackbytes are byteballs + privacy? If this is the case why are blackbytes not worth more?

this is a really good question. i was thinking about the same.

maybe just because it is too "complicated" to use them and you can't just buy them at polo, trex or what ever.

[Wubalubadubdub]

Is it fair to say that blackbytes are byteballs + privacy? If this is the case why are blackbytes not worth more?

There is no correlation between privacy and the price, or the correlation is really weak.