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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1157523 times)
KwiZ
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January 15, 2018, 04:33:34 AM
 #16701

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?
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StandingTall
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January 15, 2018, 05:10:34 AM
 #16702

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.

Chancellor on brink of second bailout for banks
KwiZ
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January 15, 2018, 05:42:15 AM
 #16703

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?

Quote
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
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January 15, 2018, 06:14:41 AM
 #16704


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

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BinaryBalls.com
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Pinstripe
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January 15, 2018, 08:06:49 AM
 #16705


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.
xenon131
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January 15, 2018, 08:18:55 AM
 #16706

There's a very optimistic article about Byteball on the TheMerkle news web: https://themerkle.com/iota-raiblocks-whos-next-byteball/
It's nice to see that Byteball is getting more and more news coverage lately... it's a good marketing and hopefully many more new people will learn about it.
sure more people will join due to new textcoin fiature.  With this additional Byteball feature  it will give us just another great choice should we need to get more ppl involved.

Pinstripe
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January 15, 2018, 08:22:49 AM
 #16707


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 Shocked

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
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January 15, 2018, 08:42:40 AM
 #16708

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
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January 15, 2018, 10:50:19 AM
 #16709


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 Shocked
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
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January 15, 2018, 10:52:51 AM
 #16710

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).


Byteball payment gateway for web merchants https://byteball-for-merchants.com/ - BEEB  (Blackbytes Exchange Bot): https://www.beeb-bot.com/ (closed)
Network map, stats, Top Richests and Byteball world map at https://byteball.fr/ (closed) - Hub operator featuring the cashback witness https://byteball-cashback-witness.com (closed)
zaliass
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January 15, 2018, 02:20:20 PM
 #16711

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 Smiley 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  Grin

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
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January 15, 2018, 04:05:19 PM
 #16712

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.


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megashira1
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January 15, 2018, 05:55:00 PM
 #16713

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

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January 15, 2018, 06:12:36 PM
 #16714

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
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January 15, 2018, 06:32:54 PM
 #16715

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.

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January 15, 2018, 06:42:22 PM
 #16716

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
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January 15, 2018, 06:47:54 PM
 #16717

look at coinmarketcap, byteball seems to be listed on upbit.com
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January 15, 2018, 06:48:57 PM
 #16718

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.

The PRIVATE KEY in my sig has been found. Rent a !
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January 15, 2018, 06:59:14 PM
 #16719

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.
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January 15, 2018, 07:04:34 PM
 #16720

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.
And also because they can't be traded on regular exchanges by design. Either way their value is quite good and they might be worth more in the future when their distribution is over.
I don't think they could go higher than regular GBYTE because their number is much higher compared to bytes

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
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