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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1151252 times)
Malek17
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February 22, 2018, 08:33:23 PM
 #17521

It's quite funny to see how shortsighted many of you are. Tony's vision is quite clear and he is very very ambitious. That's why I love this project so much. Who cares about the price in $ or BTC of GBYTE at this stage anyway, it's barely year 2 of the project. Distribution is nowhere near finished, decentralization still has to happen and new features are being churned out like clockwork. Anyone who zooms out a little can see that this is the most impressive crypto project of them all, especially considering it's mostly being built by a single genius coder who luckily doesn't give a damn about speculators or so called investors. For those of you still blinded by greed I'll spell it out for you:

1. Designed from the ground up as a better version of Bitcoin in every possible way, yes even security wise. In theory ofcourse, he's busy building all this.
2. Understanding that you should focus on user adoption and user experience instead of speculation/exchanges.
3. Currently roughly ~15tps max but no time wasted on speed optimization yet because the network is nowhere near capacity yet, so waste of time, better work on new features. We know it can scale.
4. Understand that this is meant to be used in the real world instead of "HODLed till moon". So some kind of trust is not bad, extremism is bad. You can still be swindled with your 100% trustless currency, because the physical world does actually exist. So why not integrate with it! Witnesses are a brilliant solution to bond the real and virtual worlds.
5. Marketing, whatfor!? The basics aren't even finished yet, why start screaming already? Marketing to get active contributors involved, yes! Please let's do that. But hardly anyone does anything but whine instead of helping Tony achieve his mission.

So once all of this is done, a few years from now probably, Byteball will turn into:
The most feature rich, extremely fast (at least x100 from now) crypto platform you can imagine with insanely low fees that has millions of actual users.
12 high profile real world witnesses, like Jumio, Bittrex, Amazon, Tesla, Wikileaks, UNICEF, etc. providing decentralization and security.
Many useful chat bots and integration in many web front ends / web applications as a backend system.

That's what I believe in and why I have bought some (a lot) GB on top of what I got for free. If you don't believe in it then please just dump your GB and move to some other project.
All of you that learned about this project before November had a chance to own a part of this for FREE, noone asked you to invest in it.

Now that the groundwork is almost finished and actual ICOs can be run on Byteball it's beginning to make sense to buy some Bytes to actually use it, so why give everything away for free to the people who already got so many. It just doesn't make sense. So from this whole vision it's super obvious that the airdrops must stop, they will destroy the vision when continued.

So, who wants to contribute instead of whine?


What vision are you talking about?if it was a good vision this shit wouldn’t happen even shit coins invented yesterday by nobody have some sort of a road map if he has clear vision with a road map and follow exactly the road map people expect what they will get and what they will not, eventhough he said few months ago that the March airdrop could be cancelled or postponed but that’s not the way it should be done you either confirm or cancel the airdrop not maybe or maybe not because simply it’s not fair for people who lately bought into byteball,personally I am not happy not because the airdrop was cancelled I am not happy because I think the distribution should have already finished and byteball has moved to the next step to make a decentralised coins regardless of the distribution method,i am not happy for the lack of communication from the Dev I am not happy because the Dev doesn’t seem to give a damn about adding byteball to new exchanges they have plenty of money in the community fund but i am not sure yet what they doing with the money there in fact I don’t think it’s a community fund because it controlled by the Dev to be eligible for the name community fund it has to be controlled by the community and just to mention some coins come to life just few weeks ago have already added to some major exchanges without any problem but the way I see it byteball team doesn’t really care about adding the coin to new exchanges.
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February 22, 2018, 09:04:58 PM
Merited by bitserve (1)
 #17522

i'm not bothered about the lack of airdrop but i am bothered by the lack of clarity. make plans and go through with them or don't mention them at all.

the 'new' distribution methods are failures. the previous one, especially the bitcoin holder part was pretty dumb too.

right now this project needs to have the developer's grip loosened and let it go out into the world and see what happens. that means distribution and rapidly.
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February 22, 2018, 09:19:30 PM
 #17523

i'm not bothered about the lack of airdrop but i am bothered by the lack of clarity. make plans and go through with them or don't mention them at all.

the 'new' distribution methods are failures. the previous one, especially the bitcoin holder part was pretty dumb too.

right now this project needs to have the developer's grip loosened and let it go out into the world and see what happens. that means distribution and rapidly.

Yes Yes Yes!!

Finish the distribution, and release the hounds!!
meterse
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February 22, 2018, 10:00:32 PM
 #17524

It's quite funny to see how shortsighted many of you are. Tony's vision is quite clear and he is very very ambitious. That's why I love this project so much. Who cares about the price in $ or BTC of GBYTE at this stage anyway, it's barely year 2 of the project. Distribution is nowhere near finished, decentralization still has to happen and new features are being churned out like clockwork. Anyone who zooms out a little can see that this is the most impressive crypto project of them all, especially considering it's mostly being built by a single genius coder who luckily doesn't give a damn about speculators or so called investors. For those of you still blinded by greed I'll spell it out for you:

1. Designed from the ground up as a better version of Bitcoin in every possible way, yes even security wise. In theory ofcourse, he's busy building all this.
2. Understanding that you should focus on user adoption and user experience instead of speculation/exchanges.
3. Currently roughly ~15tps max but no time wasted on speed optimization yet because the network is nowhere near capacity yet, so waste of time, better work on new features. We know it can scale.
4. Understand that this is meant to be used in the real world instead of "HODLed till moon". So some kind of trust is not bad, extremism is bad. You can still be swindled with your 100% trustless currency, because the physical world does actually exist. So why not integrate with it! Witnesses are a brilliant solution to bond the real and virtual worlds.
5. Marketing, whatfor!? The basics aren't even finished yet, why start screaming already? Marketing to get active contributors involved, yes! Please let's do that. But hardly anyone does anything but whine instead of helping Tony achieve his mission.

So once all of this is done, a few years from now probably, Byteball will turn into:
The most feature rich, extremely fast (at least x100 from now) crypto platform you can imagine with insanely low fees that has millions of actual users.
12 high profile real world witnesses, like Jumio, Bittrex, Amazon, Tesla, Wikileaks, UNICEF, etc. providing decentralization and security.
Many useful chat bots and integration in many web front ends / web applications as a backend system.

That's what I believe in and why I have bought some (a lot) GB on top of what I got for free. If you don't believe in it then please just dump your GB and move to some other project.
All of you that learned about this project before November had a chance to own a part of this for FREE, noone asked you to invest in it.

Now that the groundwork is almost finished and actual ICOs can be run on Byteball it's beginning to make sense to buy some Bytes to actually use it, so why give everything away for free to the people who already got so many. It just doesn't make sense. So from this whole vision it's super obvious that the airdrops must stop, they will destroy the vision when continued.

So, who wants to contribute instead of whine?


What vision are you talking about?if it was a good vision this shit wouldn’t happen even shit coins invented yesterday by nobody have some sort of a road map if he has clear vision with a road map and follow exactly the road map people expect what they will get and what they will not, eventhough he said few months ago that the March airdrop could be cancelled or postponed but that’s not the way it should be done you either confirm or cancel the airdrop not maybe or maybe not because simply it’s not fair for people who lately bought into byteball,personally I am not happy not because the airdrop was cancelled I am not happy because I think the distribution should have already finished and byteball has moved to the next step to make a decentralised coins regardless of the distribution method,i am not happy for the lack of communication from the Dev I am not happy because the Dev doesn’t seem to give a damn about adding byteball to new exchanges they have plenty of money in the community fund but i am not sure yet what they doing with the money there in fact I don’t think it’s a community fund because it controlled by the Dev to be eligible for the name community fund it has to be controlled by the community and just to mention some coins come to life just few weeks ago have already added to some major exchanges without any problem but the way I see it byteball team doesn’t really care about adding the coin to new exchanges.

bro you have heard of a full stop?
meterse
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February 22, 2018, 10:09:17 PM
 #17525

i'm not bothered about the lack of airdrop but i am bothered by the lack of clarity. make plans and go through with them or don't mention them at all.

the 'new' distribution methods are failures. the previous one, especially the bitcoin holder part was pretty dumb too.

right now this project needs to have the developer's grip loosened and let it go out into the world and see what happens. that means distribution and rapidly.

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Other methods are being explored, but Tony rightly isnt going to rapidly burn through this valuable asset, unless its a roaring success. User aquisition is a major problem for all cryptos, and Byteball has a huge advantage with its unspent funds to aid the process
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February 22, 2018, 10:29:32 PM
 #17526

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

nope. they're a liability.

developer funds have been ringfenced already. this huge percentage is floating around looking for a home. distribution by any means would indeed be foolish. noodling around with it still piled up is as well.

there are other plans such as a set amount for the first however many millions of wallet openers. that makes sense. this cashback stuff and failed id verification handouts are not realistic or pragmatic.
Malek17
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February 22, 2018, 11:09:59 PM
 #17527

It's quite funny to see how shortsighted many of you are. Tony's vision is quite clear and he is very very ambitious. That's why I love this project so much. Who cares about the price in $ or BTC of GBYTE at this stage anyway, it's barely year 2 of the project. Distribution is nowhere near finished, decentralization still has to happen and new features are being churned out like clockwork. Anyone who zooms out a little can see that this is the most impressive crypto project of them all, especially considering it's mostly being built by a single genius coder who luckily doesn't give a damn about speculators or so called investors. For those of you still blinded by greed I'll spell it out for you:

1. Designed from the ground up as a better version of Bitcoin in every possible way, yes even security wise. In theory ofcourse, he's busy building all this.
2. Understanding that you should focus on user adoption and user experience instead of speculation/exchanges.
3. Currently roughly ~15tps max but no time wasted on speed optimization yet because the network is nowhere near capacity yet, so waste of time, better work on new features. We know it can scale.
4. Understand that this is meant to be used in the real world instead of "HODLed till moon". So some kind of trust is not bad, extremism is bad. You can still be swindled with your 100% trustless currency, because the physical world does actually exist. So why not integrate with it! Witnesses are a brilliant solution to bond the real and virtual worlds.
5. Marketing, whatfor!? The basics aren't even finished yet, why start screaming already? Marketing to get active contributors involved, yes! Please let's do that. But hardly anyone does anything but whine instead of helping Tony achieve his mission.

So once all of this is done, a few years from now probably, Byteball will turn into:
The most feature rich, extremely fast (at least x100 from now) crypto platform you can imagine with insanely low fees that has millions of actual users.
12 high profile real world witnesses, like Jumio, Bittrex, Amazon, Tesla, Wikileaks, UNICEF, etc. providing decentralization and security.
Many useful chat bots and integration in many web front ends / web applications as a backend system.

That's what I believe in and why I have bought some (a lot) GB on top of what I got for free. If you don't believe in it then please just dump your GB and move to some other project.
All of you that learned about this project before November had a chance to own a part of this for FREE, noone asked you to invest in it.

Now that the groundwork is almost finished and actual ICOs can be run on Byteball it's beginning to make sense to buy some Bytes to actually use it, so why give everything away for free to the people who already got so many. It just doesn't make sense. So from this whole vision it's super obvious that the airdrops must stop, they will destroy the vision when continued.

So, who wants to contribute instead of whine?


What vision are you talking about?if it was a good vision this shit wouldn’t happen even shit coins invented yesterday by nobody have some sort of a road map if he has clear vision with a road map and follow exactly the road map people expect what they will get and what they will not, eventhough he said few months ago that the March airdrop could be cancelled or postponed but that’s not the way it should be done you either confirm or cancel the airdrop not maybe or maybe not because simply it’s not fair for people who lately bought into byteball,personally I am not happy not because the airdrop was cancelled I am not happy because I think the distribution should have already finished and byteball has moved to the next step to make a decentralised coins regardless of the distribution method,i am not happy for the lack of communication from the Dev I am not happy because the Dev doesn’t seem to give a damn about adding byteball to new exchanges they have plenty of money in the community fund but i am not sure yet what they doing with the money there in fact I don’t think it’s a community fund because it controlled by the Dev to be eligible for the name community fund it has to be controlled by the community and just to mention some coins come to life just few weeks ago have already added to some major exchanges without any problem but the way I see it byteball team doesn’t really care about adding the coin to new exchanges.

bro you have heard of a full stop?
never mind the full stop......
Malek17
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February 22, 2018, 11:10:58 PM
 #17528

i'm not bothered about the lack of airdrop but i am bothered by the lack of clarity. make plans and go through with them or don't mention them at all.

the 'new' distribution methods are failures. the previous one, especially the bitcoin holder part was pretty dumb too.

right now this project needs to have the developer's grip loosened and let it go out into the world and see what happens. that means distribution and rapidly.

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Other methods are being explored, but Tony rightly isnt going to rapidly burn through this valuable asset, unless its a roaring success. User aquisition is a major problem for all cryptos, and Byteball has a huge advantage with its unspent funds to aid the process
new distribution methods are and will be a total failure full stop
Big Naturals
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February 22, 2018, 11:51:16 PM
 #17529

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Look around you, unspent funds from changing plans only serve to create uncertainty, and turn previous supporters of the project into disgruntled ex-investors.

Tony has created a great project, but it's time to let it sink or swim. Crypto isn't a fringe hobby for tech nerds anymore, it's going mainstream, and the best evangelists now are rusted on early adopters with big bags of BB ready to fund other activities. The present 'crisis' means some of these BB evangelists are strapping on parachutes ready to jump, and that's a far bigger loss than any possible benefit of distributing smaller amounts to new users.

imo the best outcome from here is

- re-instate March drop
- continue moon drops but at a reduced rate
- use 10% of remaining undistributed BB for the newer distro methods
- set goal of completing 100% of distribution within 6 months

Above would allow Tony to delegate growing BB adoption more to community, letting him concentrate on dev work, which is obviously his strong suite, thus creating a much more decentralised project than we currently have, and complete certainty for people when considering to buy/sell BB.

We could have this resolved in 24 hours, and Tony would be free to concentrate on BB dev work, and nobody would bust his balls over community consultation & communication ever again!

bobq
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February 23, 2018, 01:03:06 AM
 #17530

It's quite funny to see how shortsighted many of you are. Tony's vision is quite clear and he is very very ambitious. That's why I love this project so much. Who cares about the price in $ or BTC of GBYTE at this stage anyway, it's barely year 2 of the project. Distribution is nowhere near finished, decentralization still has to happen and new features are being churned out like clockwork. Anyone who zooms out a little can see that this is the most impressive crypto project of them all, especially considering it's mostly being built by a single genius coder who luckily doesn't give a damn about speculators or so called investors. For those of you still blinded by greed I'll spell it out for you:

1. Designed from the ground up as a better version of Bitcoin in every possible way, yes even security wise. In theory ofcourse, he's busy building all this.
2. Understanding that you should focus on user adoption and user experience instead of speculation/exchanges.
3. Currently roughly ~15tps max but no time wasted on speed optimization yet because the network is nowhere near capacity yet, so waste of time, better work on new features. We know it can scale.
4. Understand that this is meant to be used in the real world instead of "HODLed till moon". So some kind of trust is not bad, extremism is bad. You can still be swindled with your 100% trustless currency, because the physical world does actually exist. So why not integrate with it! Witnesses are a brilliant solution to bond the real and virtual worlds.
5. Marketing, whatfor!? The basics aren't even finished yet, why start screaming already? Marketing to get active contributors involved, yes! Please let's do that. But hardly anyone does anything but whine instead of helping Tony achieve his mission.

So once all of this is done, a few years from now probably, Byteball will turn into:
The most feature rich, extremely fast (at least x100 from now) crypto platform you can imagine with insanely low fees that has millions of actual users.
12 high profile real world witnesses, like Jumio, Bittrex, Amazon, Tesla, Wikileaks, UNICEF, etc. providing decentralization and security.
Many useful chat bots and integration in many web front ends / web applications as a backend system.

That's what I believe in and why I have bought some (a lot) GB on top of what I got for free. If you don't believe in it then please just dump your GB and move to some other project.
All of you that learned about this project before November had a chance to own a part of this for FREE, noone asked you to invest in it.

Now that the groundwork is almost finished and actual ICOs can be run on Byteball it's beginning to make sense to buy some Bytes to actually use it, so why give everything away for free to the people who already got so many. It just doesn't make sense. So from this whole vision it's super obvious that the airdrops must stop, they will destroy the vision when continued.

So, who wants to contribute instead of whine?


This post is so good and visionary that I was compelled to give it one of my few sMerits. Smiley
While it is understandable that from the moment that cryptocurrencies have acquired a spendable monetary value (fur sure it was not like that in the early days of Bitcoin) people have got used to worry that the "value which they own" would not evaporate, this speculation-bound aspect of cryptos, which has a strong delusional component, has overall taken the scene obliterating most of the real world aspects of this game.
In fact I would invite everyone to consider how most of the cryptocurrencies out there are now mainly sailing pushed just by the wind of some sort of marketing hype. Structural and strategic decisions for the coins are now often taken just for reason of marketing, which is a way to say that the narrative has taken over the substance in cryptos. Just observe the proliferation of copy/paste masternode coins, which are even created from the very beginning only for reasons of marketing.
Byteball on the other side IS sticking to the program, which is NOT a marketing program, but a pure developement one. And the efforts to enlarge the adoption base - no matter if by the way of the original airdrop or through new methods - are strictly connected with the original plan. The original plan was, and still is, beyond the technical development, which has never stopped nor slowed down, to grow as much as possible the quantity of "nodes" of the network (the adopters of the coin) because THIS and only THIS has the property of growing the value of the coin in a SUSTAINABLE way, for the reasons expressed in Metcalfe's laws, as opposed as rising them just with for reasons of hype and ephemeral marketing magic.
As for contributing, I'm working on a project which I hope at some point could become helpful for Byteball, but for now it's still in a too early stage.


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February 23, 2018, 01:09:08 AM
 #17531


https://binaryballs.com/common/img/well-played.jpg

*** congratulations binaryballs players !!! ***

https://binaryballs.com/common/img/last24hstats-2018-02-23.jpeg

On the last 24h, binaryballs players predictions have been really good : every 1 MByte played on binaryballs.com brought back an average 125% return rate

https://byteball.fr/bandeau.png

Malek17
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February 23, 2018, 01:09:55 AM
 #17532

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Look around you, unspent funds from changing plans only serve to create uncertainty, and turn previous supporters of the project into disgruntled ex-investors.

Tony has created a great project, but it's time to let it sink or swim. Crypto isn't a fringe hobby for tech nerds anymore, it's going mainstream, and the best evangelists now are rusted on early adopters with big bags of BB ready to fund other activities. The present 'crisis' means some of these BB evangelists are strapping on parachutes ready to jump, and that's a far bigger loss than any possible benefit of distributing smaller amounts to new users.

imo the best outcome from here is

- re-instate March drop
- continue moon drops but at a reduced rate
- use 10% of remaining undistributed BB for the newer distro methods
- set goal of completing 100% of distribution within 6 months

Above would allow Tony to delegate growing BB adoption more to community, letting him concentrate on dev work, which is obviously his strong suite, thus creating a much more decentralised project than we currently have, and complete certainty for people when considering to buy/sell BB.

We could have this resolved in 24 hours, and Tony would be free to concentrate on BB dev work, and nobody would bust his balls over community consultation & communication ever again!


100% agree but history telling us Tonych will never listen or care to what's written in this thread so feel free to continue the discussion regardless to what Tonych will do.
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February 23, 2018, 01:50:18 AM
 #17533

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Look around you, unspent funds from changing plans only serve to create uncertainty, and turn previous supporters of the project into disgruntled ex-investors.

Tony has created a great project, but it's time to let it sink or swim. Crypto isn't a fringe hobby for tech nerds anymore, it's going mainstream, and the best evangelists now are rusted on early adopters with big bags of BB ready to fund other activities. The present 'crisis' means some of these BB evangelists are strapping on parachutes ready to jump, and that's a far bigger loss than any possible benefit of distributing smaller amounts to new users.

imo the best outcome from here is

- re-instate March drop
- continue moon drops but at a reduced rate
- use 10% of remaining undistributed BB for the newer distro methods
- set goal of completing 100% of distribution within 6 months

Above would allow Tony to delegate growing BB adoption more to community, letting him concentrate on dev work, which is obviously his strong suite, thus creating a much more decentralised project than we currently have, and complete certainty for people when considering to buy/sell BB.

We could have this resolved in 24 hours, and Tony would be free to concentrate on BB dev work, and nobody would bust his balls over community consultation & communication ever again!



Not gonna happen. At this point Byteball would even need a full rebranding to restore investors confidence. There is no reason to think anything is going to change when it hasn't happened when it was easier to come up with a plan and just stick to it.

As I said before just take it or leave it as it is. Don't expect anything and you won't be disappointed. It's more healthy to think that way.  

For me, having less than 10GB's, it's easy to just accept failure (as an asset) in one of many coins. If anyone invested their life savings on it... well, shouldn't have put all your eggs on the same basket, especially in extremely high risk investments.

Oh, and no one was really fooled here... it was perfectly clear from the beginning that this was basically a one man's project, that he decided from the beginning to distribute for free. He can't really be blamed for any posterior value it reached through speculation or any expectations we could have based on our own (wrong) bad judgement.

Probably he never wanted it to hold any (monetary) value and it was all just an undesired side effect due to the high amount of speculation in crypto markets.

Just focus on the tech, monetary value is completely irrelevant at this moment. Maybe in the future some other coins (or as a sidechain) with a market based focus could adopt the code and offer the best of both worlds.

19VBmRQVqrtNTGiwngZutwREagcKxJgVZM
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February 23, 2018, 02:05:41 AM
 #17534

Remember unspent funds are one of the key assets Byteball has over the vast majority of other crypto projects. Further you are incorrect in saying the new distribution methods are failures. Most have only been tested on a small scale, and have successfully got new users which is the aim.

Look around you, unspent funds from changing plans only serve to create uncertainty, and turn previous supporters of the project into disgruntled ex-investors.

Tony has created a great project, but it's time to let it sink or swim. Crypto isn't a fringe hobby for tech nerds anymore, it's going mainstream, and the best evangelists now are rusted on early adopters with big bags of BB ready to fund other activities. The present 'crisis' means some of these BB evangelists are strapping on parachutes ready to jump, and that's a far bigger loss than any possible benefit of distributing smaller amounts to new users.

imo the best outcome from here is

- re-instate March drop
- continue moon drops but at a reduced rate
- use 10% of remaining undistributed BB for the newer distro methods
- set goal of completing 100% of distribution within 6 months

Above would allow Tony to delegate growing BB adoption more to community, letting him concentrate on dev work, which is obviously his strong suite, thus creating a much more decentralised project than we currently have, and complete certainty for people when considering to buy/sell BB.

We could have this resolved in 24 hours, and Tony would be free to concentrate on BB dev work, and nobody would bust his balls over community consultation & communication ever again!


100% agree but history telling us Tonych will never listen or care to what's written in this thread so feel free to continue the discussion regardless to what Tonych will do.
Harsh but spot on. Tony doesn't listen.

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February 23, 2018, 07:09:21 AM
 #17535

When I try to send GBB, my wallet says: "Too many authors." Considering splitting the payment into two units. ".
What could it be? How to fix it? I can not do the transaction.
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February 23, 2018, 07:39:07 AM
 #17536

When I try to send GBB, my wallet says: "Too many authors." Considering splitting the payment into two units. ".
What could it be? How to fix it? I can not do the transaction.

This is explained in the Byteball wiki page, which contains a list of error messages
https://byteroll.com/error
The site seems to be down now, but once it comes back, you will get your answer.


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February 23, 2018, 08:41:15 AM
 #17537

new distribution methods are and will be a total failure full stop

The idea that giving 20$ to a random person will make him a lifelong Byteball community member is a failure. I bet all the people posting here and caring have bought BB.
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February 23, 2018, 09:48:44 AM
Last edit: February 23, 2018, 09:59:53 AM by Marc De Mesel
 #17538

hey guys,

What do u think of critique of Vitalik on DAG?

https://www.youtube.com/watch?v=LBy6bGQ7pSs


He says it will improve latency issues, but not scalability issues as with DAG every computer also needs to verify all transactions, and thus the same bottleneck applies as in traditional blockchains.

True or not?



I would say that every computer validating all transactions is not causing the scalability issue we see for example in Bitcoin.

Eventhough every full client will validate all transactions, the network does not need to wait for it in order to continue, but the network does need to wait for a miner to validate a block, and even is not a scalability issue as miners will do this job equally well no matter how much nodes/full clients are in the network. The scalability issue is a non issue as it is articifically caused by capping the blocksize in Bitcoin, causing an aritificial scale limit.


There is a limit in how big you want to let grow the blockchain or dag, as indeed every full client needs to download this and store it, and ethereum for example let it grow much faster as Bitcoin, but still also at a slower rate of demand, thereby seeing trans fees go up as people need to compete to get in, but this problem could also be solved by reducing the data that need be stored (sharding) and possibly many other tricks, thereby allowing demand to meet supply again without needing to pay higher fees.


So a DAG in the end just takes out a bottleneck that Blockchain did have, by removing the blocks where every transaction needed to get in, and allowing transactions to be directly connected to eachother and forming different chains instead of forcing them into blocks that build only 1 chain, you allow a more decentralised way of forming a chain and thereby a faster and more scalable way of building it.


What do u think?

Early Bitcoin, Byteball & Bitcoin Cash Investor. Loving Voluntarysm, Lambos & Girls Wink
Check out my: https://youtube.com/user/Marcdemesel - https://twitter.com/marcdemesel & https://instagram.com/marc_de_mesel
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February 23, 2018, 10:41:14 AM
Last edit: February 23, 2018, 11:07:56 AM by Jedgar
 #17539

It's quite funny to see how shortsighted many of you are. Tony's vision is quite clear and he is very very ambitious.
.................


This post is so good and visionary that I was compelled to give it one of my few sMerits. Smiley

..................


That post is from person who prefer to   hide his head in the sand, like an ostrich rather then to  gear towards identifying Byteball  problems, including distribution, low profile and  high centralization to name only a few. Sure, people like Marc De Mesel can afford themself to freeze a few M of bucks and wait what will happen. But the mass  from here didn't ripe for it.
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February 23, 2018, 12:22:41 PM
 #17540

He says it will improve latency issues, but not scalability issues as with DAG every computer also needs to verify all transactions, and thus the same bottleneck applies as in traditional blockchains.
The Ethereum code is law I mean Fork-to-take-back-coins-from-broken-code kid has an agenda. His premined Ethereum runs on scam-ICOs to gain popularity, and he must fear the DAG to take over that market.
My simple desktop computer can verify thousands of Bitcoin transactions per seconds (order of magnitude of 1 block per second). It will take a very long time for "every computer" to be the limiting factor.

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