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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1151252 times)
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February 22, 2018, 02:51:20 AM
 #17481

Random and changing dilution of current (and potentially future) holders assets with redistribution by the dev, together with the loss of trust this causes, have a serious potential to harm rather than help this network. If Tony ends up putting those coins to phenomenally good use, then maybe this is for the best, but I see no sign of that so far. Cashback for a handful of shops that are being paid to take byteball and a buggy and philosophically questionable KYC program are terrible uses of what amounts by inflation to current holders money.
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February 22, 2018, 03:54:49 AM
 #17482

I do think cancelling the March airdrop was a blunder -- although as others have said, it should have been postponed anyways because Cryptopia is currently confiscating all their customers' GBYTE for the last 2 months.

BUT -- the verification process / attestation bot is BRILLIANT. If you can't see that, you're not hooked up right. It JUST LAUNCHED, so the numbers so far aren't very meaningful.
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February 22, 2018, 05:47:49 AM
 #17483

Random and changing dilution of current (and potentially future) holders assets with redistribution by the dev, together with the loss of trust this causes, have a serious potential to harm rather than help this network. If Tony ends up putting those coins to phenomenally good use, then maybe this is for the best, but I see no sign of that so far. Cashback for a handful of shops that are being paid to take byteball and a buggy and philosophically questionable KYC program are terrible uses of what amounts by inflation to current holders money.

The amount distributed through the Jumio verification program is very small. I think most users are hesitant to part with personal information in the crypto space at this stage. They certainly couldn't be tempted by $12 worth of a coin.
About the other distribution methods, I guess we have to just wait and watch. If as you say, these methods turn out to be effective ways to get new users to the ecosystem, the value of the bytes we hold will definitely rise.


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February 22, 2018, 06:20:23 AM
 #17484

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
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February 22, 2018, 06:27:27 AM
Last edit: February 22, 2018, 07:22:44 AM by Pinstripe
 #17485

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.


Nice!

A good move in the right direction!


Why not consider giving all linked accounts $30?
 - After the Cryptopia Situation is fixed of course . . .and we're done  Grin



 (Don't forget to include the BlackBytes as well)

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February 22, 2018, 07:55:05 AM
 #17486

I think at this point I certainly need a straight answer from Tony: Can current byte holders expect a ca. 40% dilution of their asset value, or will significant future distribution methods include a share to current owners to reduce their effective inflation rate?

The clear suggestion at the start of the air drops was that the dilution would be much less than an extra 40% on top of what we have had. Has this changed? I for one bought in with the expectation of reduced dilution, which some people are incorrectly calling a dividend, and I would assume many of the people who bought bytes thought so too. This question has a serious impact on the current and future value of this token, and after all the changes this should be answered definitively by the dev at least as a statement of intent.
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February 22, 2018, 08:02:18 AM
 #17487

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.

Sounds like a fair deal , considering the current  situation that surrounds March airdrop.However, the lack of clear rules determining the distribution of both bytes and blackbytes with regard to 40% left in dev's  hands  issues a source of markets' cautious toward Byteball.
bitserve
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February 22, 2018, 08:13:09 AM
 #17488

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.


Nice!

A good move in the right direction!


Why not consider giving all linked accounts $30?
 - After the Cryptopia Situation is fixed of course . . .and we're done  Grin



 (Don't forget to include the BlackBytes as well)



In the right direction? It's even worse than simply cancelling the whole airdrop completely.

Anyway... I will keep hodling because I think Byteball is fundamentally a good idea and technology. I just hope that, in the future, it gets its shit together and begins to also have any potential as an investment too.

Fortunately, for most people it is just a matter of "don't looking a gift horse in the mouth". For the rest... just remember to "not invest more than you are willing to lose". It doesn't make any sense to keep arguing what Byteball should be or do... it is what it is, take it or leave it.

19VBmRQVqrtNTGiwngZutwREagcKxJgVZM
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February 22, 2018, 08:23:15 AM
 #17489

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.


Nice!

A good move in the right direction!


Why not consider giving all linked accounts $30?
 - After the Cryptopia Situation is fixed of course . . .and we're done  Grin



 (Don't forget to include the BlackBytes as well)



In the right direction? It's even worse than simply cancelling the whole airdrop completely.

Anyway... I will keep hodling because I think Byteball is fundamentally a good idea and technology. I just hope that, in the future, it gets its shit together and begins to also have any potential as an investment too.

Fortunately, for most people it is just a matter of "don't looking a gift horse in the mouth". For the rest... just remember to "not invest more than you are willing to lose". It doesn't make any sense to keep arguing what Byteball should be or do... it is what it is, take it or leave it.


Even worse? how can you say that?

Many were out of pocket over this, and you can't really blame anyone for believing it was going to happen - that would be a bit harsh dont you think?

It's a decent and ethical thing to do - a step in the right direction - and they are new users.

I think you make some good points otherwise.

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February 22, 2018, 08:47:48 AM
 #17490

On the off chance Tony that you haven't considered this:

Absent you burning those coins, there is a guaranteed 40% inflation that is going to happen to the circulating supply of this currency. When you issue a statement suggesting that a portion of this new currency won't go to the existing holders in proportion, to the extent that they believe you, you reduce the value of their coins by that percentage almost instantly, or increase it when you do the reverse. Until the distribution ends, you are in effect in the position of Janet Yellen, or any other central banker when speaking or acting on the money supply. This is ironically what many of the non-speculators originally got into this space to avoid, and while this is unavoidable to some extent while the distribution continues, the damage can be minimized by being clear in how you intend the split between current holders and new holders to be, and being as consistent as possible with the distribution model and as gradual when making changes as possible. Ultimately ending the distribution and returning to the algorithmically determined (0%) inflation rate as soon as possible is the best outcome unless you are certain you can spend those investors money to create more or the same value added to the system, including the uncertainty and volatility you are inducing.

Until this ends you are acting as lead core dev, primary witness, and also as stated above as primary market maker. These are the three blockchain constituencies (devs, miners, and holders) that are meant to be decentralized and hold each other in check. You must take steps to free this project up if it is to reach its full potential. That means more witnesses, more devs with better community interaction and governance structure, and a more consistent distribution plan. The technology is amazing and has brilliant potential, but without these things no matter how good the tech is, you are essentially running a centralized database with extra steps.
bitserve
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February 22, 2018, 08:49:30 AM
 #17491

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.


Nice!

A good move in the right direction!


Why not consider giving all linked accounts $30?
 - After the Cryptopia Situation is fixed of course . . .and we're done  Grin



 (Don't forget to include the BlackBytes as well)



In the right direction? It's even worse than simply cancelling the whole airdrop completely.

Anyway... I will keep hodling because I think Byteball is fundamentally a good idea and technology. I just hope that, in the future, it gets its shit together and begins to also have any potential as an investment too.

Fortunately, for most people it is just a matter of "don't looking a gift horse in the mouth". For the rest... just remember to "not invest more than you are willing to lose". It doesn't make any sense to keep arguing what Byteball should be or do... it is what it is, take it or leave it.


Even worse? how can you say that?

Many were out of pocket over this, and you can't really blame anyone for believing it was going to happen - that would be a bit harsh dont you think?

It's is a decent and ethical thing to do - a step in the right direction - and they are new users.

I think you make some good points otherwise.



It's even worse for the following reasons:

1) Another change of plans! First there will probably airdrop, next it gets cancelled, now it goes to some people but not others.... What will be next? Uncertainty! It would be better to just stick to a "bad" plan... than not having any plan and just keep changing everything all the time for no apparent reason.

2) It's good to send something to new users, of course. But what happens to the ones that were already faithful to the project and were linked since before november? Well, they are not new users, so no "promotion" for them... it makes sense if you are a cellphone company that doesn't really care screwing previous customers. Doesn't look like the best strategy in crypto as one of the strong points of top coins is previous customers loyalty (hodlers).

3) This "change of plans" is now a fundamental "feature" of Byteball as this has been happening since the first cancellation of regular "full moon" airdrops many months back.

4) There is still a 40% of the coins that are still pending distribution and, given the erratic pattern of decisions regarding when, how and to whom, nobody currently knows what to expect about it. Did I say uncertainty already?
And when you don't know what to expect.... it's better to expect the worse even if to err on the safe side. Fool me once... you know.

Of course 2000 \* 30 = $60.000 that is not gonna change anything price wise even if it were fully and inmediately dumped but.... the impact on previous "hodlers" confidence and trust.....  that is going to hurt in the long run.

Anyway, as I said, Byteball is a project worth observing for its tech and maybe some time in the future investor's confidence is restored and it is also worth the risk of putting (more) money on it.

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February 22, 2018, 08:53:05 AM
 #17492

Tony needs to be a better Janet Yellen and distribute tokens in a conservative way. Let's say the price is steadily increasing by 0.5% per day. I would aim to distribute to new users at 0.25%.


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MagnusHH
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February 22, 2018, 09:01:32 AM
 #17493

Tony needs to be a better Janet Yellen and distribute tokens in a conservative way. Let's say the price is steadily increasing by 0.5% per day. I would aim to distribute to new users at 0.25%.

Be a Volker not a Yellen. Raise interest rates to match and fight the inflation. Or better yet, be a Ron Paul and "End The Fed".
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February 22, 2018, 09:35:13 AM
 #17494

Announcement from chief developer Tony on Slack:

Quote
there are about 2000 people who linked their btc address since november in anticipation of the cancelled airdrop.  We'll do a small airdrop for them, about $30 worth to each.  Both to those who linked via microtx (and spent money) and those who linked by signing.  Even if BTC balance is 0.  They are all new users after all.


Nice!

A good move in the right direction!


Why not consider giving all linked accounts $30?
 - After the Cryptopia Situation is fixed of course . . .and we're done  Grin



 (Don't forget to include the BlackBytes as well)



In the right direction? It's even worse than simply cancelling the whole airdrop completely.

Anyway... I will keep hodling because I think Byteball is fundamentally a good idea and technology. I just hope that, in the future, it gets its shit together and begins to also have any potential as an investment too.

Fortunately, for most people it is just a matter of "don't looking a gift horse in the mouth". For the rest... just remember to "not invest more than you are willing to lose". It doesn't make any sense to keep arguing what Byteball should be or do... it is what it is, take it or leave it.


Even worse? how can you say that?

Many were out of pocket over this, and you can't really blame anyone for believing it was going to happen - that would be a bit harsh dont you think?

It's is a decent and ethical thing to do - a step in the right direction - and they are new users.

I think you make some good points otherwise.



It's even worse for the following reasons:

1) Another change of plans! First there will probably airdrop, next it gets cancelled, now it goes to some people but not others.... What will be next? Uncertainty! It would be better to just stick to a "bad" plan... than not having any plan and just keep changing everything all the time for no apparent reason.

2) It's good to send something to new users, of course. But what happens to the ones that were already faithful to the project and were linked since before november? Well, they are not new users, so no "promotion" for them... it makes sense if you are a cellphone company that doesn't really care screwing previous customers. Doesn't look like the best strategy in crypto as one of the strong points of top coins is previous customers loyalty (hodlers).

3) This "change of plans" is now a fundamental "feature" of Byteball as this has been happening since the first cancellation of regular "full moon" airdrops many months back.

4) There is still a 40% of the coins that are still pending distribution and, given the erratic pattern of decisions regarding when, how and to whom, nobody currently knows what to expect about it. Did I say uncertainty already?
And when you don't know what to expect.... it's better to expect the worse even if to err on the safe side. Fool me once... you know.

Of course 2000 \* 30 = $60.000 that is not gonna change anything price wise even if it were fully and inmediately dumped but.... the impact on previous "hodlers" confidence and trust.....  that is going to hurt in the long run.

Anyway, as I said, Byteball is a project worth observing for its tech and maybe some time in the future investor's confidence is restored and it is also worth the risk of putting (more) money on it.


Again, you make some valid points, however, if they follow the added recommendation I made, things might look even better from a PR perspective.
 
Although it would be much less for the big guys, everyone would get something, and there would be far less to complain about
 - it could also go a long way toward healing a large part of the Community that feels somewhat betrayed.

It's a decent compromise to put the best possible face on the current situation & low morale, and help Build Community.

There is good reason to believe that small accounts that are rewarded with $30 are far more likely to get excited
 and promote the ByteBall asset even more - it's definitely worth considering.

xenon131
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February 22, 2018, 12:35:26 PM
 #17495



2) It's good to send something to new users, of course.

Are they really new or just a couple of old shills who created thousands of free accounts , say on Microsoft Azure?  The question remains open here.

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February 22, 2018, 01:05:45 PM
 #17496

Are they really new or just a couple of old shills who created thousands of free accounts , say on Microsoft Azure?  The question remains open here.
This airdrop wasn't announced, so there was no reason to create empty accounts for it.
My last account was created before November, and part of the last airdrop already. So it won't receive extra Bytes.

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February 22, 2018, 01:24:06 PM
Merited by HCP (1)
 #17497

Here's an idea, make a new moderated thread and whoever says a word about the airdrop just simply delete their comment. I'm fucking sick and tired of reading through pages of pure welfare whining, it's disgusting. The same goes for those who cry that tonych still holds a big portion, you people act like you give a fuck and then buy ripple, dash and all the other shit that is heavily in the hands of developers and they are not even thinking about distributing it, that's their until they dump and that's it, still you people praise those.... I've been reading this forum less and less but every time I read it, the hatred just grows. It seems that all this crypto space is just a cesspool of parasites and beggars for food stamps. Seriously, you can't find information at all here without wasting hours (even after missing just 1-2 weeks) since it's all whining. Sell and GTFO already, really, you won't help yourself with all your whining, nothing will change, you guys state a million times that tonych doesn't listen to the "community" (sick twist on the word parasite), well why the fuck you think he will read or care about your whining now ? Put up your sell orders or dump directly but stop spamming this thread or slack with useless crying.

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February 22, 2018, 01:40:57 PM
 #17498

I love when there are projects that are aimed at developing technologies, creating a perfect crypto currency, it will be very interesting to observe the project
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February 22, 2018, 01:52:13 PM
 #17499

Here's an idea, make a new moderated thread and whoever says a word about the airdrop just simply delete their comment. I'm fucking sick and tired of reading through pages of pure welfare whining, it's disgusting. The same goes for those who cry that tonych still holds a big portion, you people act like you give a fuck and then buy ripple, dash and all the other shit that is heavily in the hands of developers and they are not even thinking about distributing it, that's their until they dump and that's it, still you people praise those.... I've been reading this forum less and less but every time I read it, the hatred just grows. It seems that all this crypto space is just a cesspool of parasites and beggars for food stamps. Seriously, you can't find information at all here without wasting hours (even after missing just 1-2 weeks) since it's all whining. Sell and GTFO already, really, you won't help yourself with all your whining, nothing will change, you guys state a million times that tonych doesn't listen to the "community" (sick twist on the word parasite), well why the fuck you think he will read or care about your whining now ? Put up your sell orders or dump directly but stop spamming this thread or slack with useless crying.

Here Here

Don't have merits to give unfortunately.

On a different note i think the Sports Betting bot should maybe look into adding more games (although all the ones I'm interested in are covered)

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February 22, 2018, 01:53:20 PM
 #17500

Byteball already got big.  Too bad I'm already late to see this gem. Very happy on your Success guys! it have a very nice Community and the Dev Team is awesome too.
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