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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1216888 times)
Random-String-Symphony
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January 18, 2018, 07:23:00 PM
 #16821

... now don't screw it up.

I managed to finalise the procedure. PM your address so I can send 10MB back. Thanks.

I was already attested so I thought I'd make the 12MB back from the $20 (edit: $20, not 20MB) reward I'd get when you would get attested. But probably because I didn't send the 12MB to your single wallet address it doesn't register me as the referrer. Lesson learned!

So the bot just confirmed I do get $20 for referring someone, so it does register. How it works exactly will be explained by Tony maybe.

⚪ Obyte     ❱❱❱     I T   J U S T   W O R K S .    ❱❱❱
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harbinger-alpha
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January 18, 2018, 07:35:27 PM
 #16822

Are there any plans to get this on more exchanges?
SaintFlow
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January 18, 2018, 08:01:23 PM
 #16823

... now don't screw it up.

I managed to finalise the procedure. PM your address so I can send 10MB back. Thanks.

I was already attested so I thought I'd make the 12MB back from the $20 (edit: $20, not 20MB) reward I'd get when you would get attested. But probably because I didn't send the 12MB to your single wallet address it doesn't register me as the referrer. Lesson learned!

So the bot just confirmed I do get $20 for referring someone, so it does register. How it works exactly will be explained by Tony maybe.

Saintflow:
OK
1. Create a new Wallet of the Type: single address wallet
If you fail that step nothing will work.
2. Send about 8-10$ to that Wallet
3. Go Chat, Bot store and Talk to real Name attestation bot.
Follow its instructions. (That part I haven't done myself,
this instruction is based on Slack User Suirelav who reported the referal).
4. Let a friend repeat step 1.
5. You repeat step 2. And then send from your attested Wallet to his.
6. Your friend does step 3.
Profit

don't let me make you question your assumptions
tonych
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January 18, 2018, 09:08:05 PM
 #16824

Finally, the new distribution rules https://medium.com/byteball/distribution-to-verified-users-and-referrals-ed00b9b2a30e

Simplicity is beauty
sailthor
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January 18, 2018, 09:10:39 PM
 #16825

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

BillionairePal
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January 18, 2018, 09:25:51 PM
 #16826

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

Absolutely! But! You can send them just 100,000 bytes each Wink
SaintFlow
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January 18, 2018, 09:26:48 PM
 #16827

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

Good point. Will come up a lot. Saying it was the same with PayPal will likely not cut the mustard because Byteball is not connected to eBay just now.

Currently it comes down to: so you don't want 12$ for your identity at a trustworthy company but you are willing to give your identity to banks, Shopping Centers, Phone companies etc.?

If arguments like: And the 12$ may increase in value do not tickle you and you are ... Meh do not want ... Thats fine.
If ICO launched will happen on Byteball and some have this obligatory and infact you may use the money to own part of a company.... Heads might start to turn... Oh you mean I am given parts of companies (Titancoin to say the least) for my identity - I would answere how else could YOU actually own it any other way?

don't let me make you question your assumptions
Malek17
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January 18, 2018, 09:34:30 PM
 #16828

i guess most people in the Crypto World prefer to remain private and anonymous.
valr
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January 18, 2018, 09:37:42 PM
 #16829

i guess most people in the Crypto World prefer to remain private and anonymous.

Sure, if you say so. Those people needn't participate  Roll Eyes
valr
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January 18, 2018, 09:41:25 PM
 #16830

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

Nothing. It's either a "instadump" for $8 or get verified and get $12. Once you get verified, you want to refer your friends to get those extra $20 (for every person referred). It's just human behavior. Sure, there will be people that will dump $8, are they gonna affect the price or the network? No. Moreover, how many people will you send this to? It's not like you would lose hundreds or thousands. Even if half of your referrals convert, you get your money back and then some more.

No system or distribution method is fool-proof.
SaintFlow
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January 18, 2018, 09:47:19 PM
 #16831

i guess most people in the Crypto World prefer to remain private and anonymous.

From Slackjore who writes the Byteball Wiki:

The thing is you're only giving your details to ONE entity, Jumio. Other entities you give them the fact that you're attested, and whatever else is the minimum they need. It's a bit like PayPal has your credit card info, but when you buy something from a random company they don't get your cc info, just that PayPal attests you're ok. Jumio doesn't even know your Byteball address.

don't let me make you question your assumptions
BillionairePal
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January 18, 2018, 09:58:37 PM
 #16832


The problem right now for new users, even if they want to give away their identity, is to come by $8 in Byteball. There is simple no way for them to buy Byteball. Bittrex is closed for new registrations and from Cryptopia there is no way to withdraw Byteball.

This can work ONLY if a major Exchange comes by... otherwise the system will starve to death.
Malek17
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January 18, 2018, 09:58:57 PM
 #16833

i guess most people in the Crypto World prefer to remain private and anonymous.

From Slackjore who writes the Byteball Wiki:

The thing is you're only giving your details to ONE entity, Jumio. Other entities you give them the fact that you're attested, and whatever else is the minimum they need. It's a bit like PayPal has your credit card info, but when you buy something from a random company they don't get your cc info, just that PayPal attests you're ok. Jumio doesn't even know your Byteball address.
This is Crypto world we don't want to hear the word PayPal here.
PayPal, Visa,Master card ...etc will probably become absolute in a decade or so,that's why visa is already started it's war against Crypto by cancelling all bitcoin visa cards
sailthor
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January 18, 2018, 10:01:45 PM
Last edit: January 18, 2018, 10:20:58 PM by sailthor
 #16834

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

Nothing. It's either a "instadump" for $8 or get verified and get $12. Once you get verified, you want to refer your friends to get those extra $20 (for every person referred). It's just human behavior. Sure, there will be people that will dump $8, are they gonna affect the price or the network? No. Moreover, how many people will you send this to? It's not like you would lose hundreds or thousands. Even if half of your referrals convert, you get your money back and then some more.

No system or distribution method is fool-proof.
I'd like to see something like:
    New user requests verification in bot
    New user completes verification form/requirements
    Contract for payment to complete verification created
    New user sends us that contract
    We make the payment and the new user and I are credited instantly as well as new user being verified


That way you know that the person you are giving bytes to are willing and have already completed verifying themselves - just waiting for you to approve the payment. Otherwise I myself could already be verified (or not), make a post stating I need $8 to verify myself and just easily take $8 from the amount of people that message me willing to give me the bytes, to keep for myself.

The only way we can safely refer people is by having some sort of relationship or trust with the user. Now I don't know about you but I highly doubt anybody I know is willing to go through the effort for $12. If I was referring them purely just for them to see the byteball innovative technology/platform then I could do that previously sending them a textcoin. I don't see many new users coming in just from this distribution - hopefully you prove me wrong

sailthor
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January 18, 2018, 10:04:21 PM
 #16835

What stops my audience from just claiming the bytes I send them for verification to keep/sell. I can’t just trust every random internet users to completely expose their identity to something new to them

Absolutely! But! You can send them just 100,000 bytes each Wink
Then how can they pay for their verification?

Malek17
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January 18, 2018, 10:06:12 PM
 #16836

anyway if you going to do this KYC/AML verification you better do it with some major exchanges like Kraken,Bitstamp,coinbase..etc most people there are already verified and that will make it a hell lot easier for everybody and probably get Byteball listed there as well.
zecon
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January 18, 2018, 10:17:25 PM
 #16837

https://medium.com/byteball/sending-cryptocurrency-to-email-5c9bce22b8a9

Textcoins is great, and a step in the right direction. But can you all make a web wallet so the layman user has an easier time using Byteball rather than asking them to download and install the native wallet?

If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.
— Jim Rohn
mvpsteel
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January 18, 2018, 10:50:46 PM
 #16838

Im really interested in getting into this coin once this correction settles. Was into IOTA and others but this seems to be better. I would suggest a refresh of the website. It seems to be less polished the alot of sites I've seen. That always helps the advertising to new potential adopters.
StandingTall
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January 18, 2018, 11:11:19 PM
Last edit: January 18, 2018, 11:21:48 PM by StandingTall
 #16839

The new distribution method would be indeed more effective if a new user attempting to verify wouldn't have to come up with 8 USD of byteball first and could be paid from the distribution pool right away without the need of:

1. finding out about Bitttrex/Cryptox/Cryptopia
2. registering on an exchange
3. transferring bitcoin/fiat to the exchange
4. buying at least 8 USD of byteball
5. withdrawing to a wallet
6. and finally geting verified and refunded

The above hassle is too much to make the method effective. I bet that Jumio requires to be paid 8 USD even if the user fails to verify in the end and this makes the verification to be paid from the distribution pool problematic and open to abuse (by Jumio actually or just rogue users). Users could be attempting verification, Jumio would be paid from the distribution pool, verification would fail and no verified user would be added to Byteball.

Chancellor on brink of second bailout for banks
BillionairePal
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January 18, 2018, 11:42:30 PM
 #16840

The new distribution method would be indeed more effective if a new user attempting to verify wouldn't have to come up with 8 USD of byteball first and could be paid from the distribution pool right away without the need of:

1. finding out about Bitttrex/Cryptox/Cryptopia
2. registering on an exchange
3. transferring bitcoin/fiat to the exchange
4. buying at least 8 USD of byteball
5. withdrawing to a wallet
6. and finally geting verified and refunded

The above hassle is too much to make the method effective. I bet that Jumio requires to be paid 8 USD even if the user fails to verify in the end and this makes the verification to be paid from the distribution pool problematic and open to abuse (by Jumio actually or just rogue users). Users could be attempting verification, Jumio would be paid from the distribution pool, verification would fail and no verified user would be added to Byteball.

Add to this that Bittrex doesnt accept new users at the moment. And from Cryptopiaa you cant withdraw Byteball. So it is IMPOSSIBLE for a crypto beginner to come by $8 in Byteball even if he really wants to...
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