Obyte: Totally new consensus algorithm + private untraceable payments

[maco144]

Working prototype!
Facebook integration via notary bot.
Run and try now!

ICO SilentNotary on Byteball https://silentnotary.com/

https://i.imgur.com/Ku2Z9z0.jpg

Quite cool!

[Freefactomizer]

It is clear that Tony can manipulate the market price of byteball with his own announcements.

He can buy in the market, then announce a good new, pumping the price and then sell his byteballs just before announcing bad news, to buy again lower.

This is not serious and makes me not to believe any more in this project and so I have sold my byteballs. Not interested in beeing a holder any more.

If you think it's that easy to predict how the market reacts you can try to play this game yourself. You can guess what's in preparation just by following the Byteball Github.

[Sythyn]

Working prototype! Telegram integration via notary bot.
Run and try now!
ICO SilentNotary on Byteball [https://silentnotary.com/]

[ThunderCatSteve]

March distribution canceled?

I as an investor am feeling very bad because we waited from November until Now (March) which is around 4 months and at the end they cancel it, it's not fair at least they could notify us earlier and not in February which makes me very angry and pissed of because I had the chance to sell the byteball at a more expensive price but I waited for the airdrop but nothing.
Byteball price will fall probably, it already has fallen from 1k to $400 and maybe more than this.

[muleroaa]

Andreas speaks about DAG. I think he is right that with DAG you sacrifice decentralization and coersion resistance by removing proof of work. Byteball is a good example of this. We have 12 witnesses in the hands of 1 person. And even if these 12 witnesses are 12 different people it's easy by governments to coerce them for censorship or just shut down the whole system.

https://www.youtube.com/watch?v=lfgMnbb5JeM

Could you tell some more about this? Is this from the white paper or some other source?

[Benezim]

March distribution canceled?

Yes

As I said before, airdrops to holders of BTC and Bytes, which we did on full moons, were a good way to bootstrap the network and get initial attention.  But last few airdrops failed to attract any significant number of new users while quickly consuming the undistributed pool.  We had to pivot to other distribution methods, but at the time I was writing the above post they were not ready yet, and I had to tentatively put another old-style airdrop on the calendar.

Now that the new distribution methods are ready and proven, and we've added even more methods than originally planned, the March airdrop is cancelled.  November airdrop was the last one that paid to holders in proportion to their balances.

This is the list of the current distribution methods (in no particular order) that we'll continue to use and improve:

1. Cashback.

2. Verification rewards and referral rewards to those who verify their real name.  It is true that the referral system didn't work quite well for new users who have no Bytes yet, and we are going to introduce a new scheme which will allow to refer new users without sending them any Bytes.

3. Giveaways, such as those that Rafael does to his youtube subscribers.

4. Mass sending of textcoins to subscribers of our partners.  We have done two so far https://docs.google.com/spreadsheets/d/1heT6TUSpTJgRW-FUM0LbcoVjXZRCb3PbXQQLmzvNRvM/edit#gid=323859176 and will work on improving conversion in the future campaigns.

Other similar methods will be added over time, the purpose is to use the remaining undistributed coins most efficiently to acquire as many new users as possible.

There were multiple suggestions to redirect a part of undistributed funds from free distribution, i.e. from acquiring users, and spend it for hiring more people, paying contractors, etc.  While I understand the reasoning behind these suggestions, it is also important that we learn to spend money wisely, with the maximum effect per spent $, before (and if) we scale up the budget.  Anyway, it is unnecessary to repurpose the undistributed funds now as we have enough funds in the Community Fund to fund the current operations in the near future: it is over $1m in Bytes (plus another $1m in less liquid blackbytes).

[JesusCryptos]

UPDATE: There is a somewhat more refined version of this article here:
https://www.reddit.com/r/ByteBall/comments/7zvigt/dear_fellow_byteballers/

A Call for Calm, Rationality & Honest Reflection by All Byteballers

With a goal of building a Strong & Vibrant Community in Spite of this recent PR setback.
I Invite all of you to put aside past issues and try to see things with a fresh perspective.

Let's have a Reset...


Dear Fellow Byteballers,
my apologies this post is so long but there is a lot I'd like to cover.


Most Importantly this:
We, the Community must find a way to get on the same page about some core issues
if we are ever to see a long term future for ByteBall. Which surely is what we all want.
Long term survival is the Supreme Mission ...


We Simply Must stop Fighting Among Ourselves about Issues of No Real Importance.
"A house divided against itself cannot stand"
ByteBall cannot succeed without Community. End of Story. Does EVERYONE get it?

(...)

That was a truly great post, which I am endorsing 100%. Any Byteballer who didn't read it yet is able to access and read the whole article at the following link:

https://www.reddit.com/r/ByteBall/comments/7zvigt/dear_fellow_byteballers/

[Sythyn]

Silentnotary prototypes:
Mobile Silentnotary App for iOS is available on AppStore!
Install and try now!
ICO SilentNotary on Byteball [https://silentnotary.com/]

[amacar1]

Can you please open a separate thread for SilentNotary?

[xlcus]

It is clear that Tony can manipulate the market price of byteball with his own announcements.

He can buy in the market, then announce a good new, pumping the price and then sell his byteballs just before announcing bad news, to buy again lower.

This is not serious and makes me not to believe any more in this project and so I have sold my byteballs. Not interested in beeing a holder any more.

Your questioning on Tony is no sense. He, as the owner of the Byteball, can reserve more for development. No need for manipulation of the price with your "method".

I am also not happy about the change of the distribution method, as I bought some Byteball months ago for obtaining the new rewards.
However, I still believe in What Tony are making effort is good at the future of Byteball.

Hold my Gbyte, anyway.

[ByteFan]

Blackbytes Bytes Exchange BEEB is offering you 1,000,000 Bytes!

Buy and sale your BlackBytes on BEEB! - http://beeb-bot.com



Here is your link to receive 1,000,000 Bytes: http://www.beeb-bot.com/textcoinclaim.php#textcoin?lemon-rural-fuel-daughter-drastic-detect-travel-clown-harbor-supply-crazy-drink

[BurtW]

Can you please open a separate thread for SilentNotary?

Yes! let's use this thread ONLY for "What happened to my free money" posts.  All other posts should be moved to another thread.

[StandingTall]

Andreas speaks about DAG. I think he is right that with DAG you sacrifice decentralization and coersion resistance by removing proof of work. Byteball is a good example of this. We have 12 witnesses in the hands of 1 person. And even if these 12 witnesses are 12 different people it's easy by governments to coerce them for censorship or just shut down the whole system.

https://www.youtube.com/watch?v=lfgMnbb5JeM

Could you tell some more about this? Is this from the white paper or some other source?

Yes, the white paper clearly defines 12 witnesses. These are the authority in Byteball preventing double spend that every user needs to rely on.

[Freefactomizer]

Andreas speaks about DAG. I think he is right that with DAG you sacrifice decentralization and coersion resistance by removing proof of work. Byteball is a good example of this. We have 12 witnesses in the hands of 1 person. And even if these 12 witnesses are 12 different people it's easy by governments to coerce them for censorship or just shut down the whole system.

https://www.youtube.com/watch?v=lfgMnbb5JeM

Could you tell some more about this? Is this from the white paper or some other source?

Yes, the white paper clearly defines 12 witnesses. These are the authority in Byteball preventing double spend that every user needs to rely on.

They don't really have authority, they don't decide anything. Their units are just used as reference to determine which was the first transaction in case of double-spend attempt.

[afbitcoins]

It is clear that Tony can manipulate the market price of byteball with his own announcements.

He can buy in the market, then announce a good new, pumping the price and then sell his byteballs just before announcing bad news, to buy again lower.

This is not serious and makes me not to believe any more in this project and so I have sold my byteballs. Not interested in beeing a holder any more.

Your questioning on Tony is no sense. He, as the owner of the Byteball, can reserve more for development. No need for manipulation of the price with your "method".

I am also not happy about the change of the distribution method, as I bought some Byteball months ago for obtaining the new rewards.
However, I still believe in What Tony are making effort is good at the future of Byteball.

Hold my Gbyte, anyway.

He can do this as he has total control of 40% of the supply. That is fact and reality, no escaping it. I'd 'like' to think he's a good guy and won't sucumb to temptations (the very fact he has stopped lunar airdrops is worrying in that regard). However I'd prefer to just get the distribution done and get on with using a decentralised byteball and not worry about what Tony might or might not do.  That goes for decentralising the witnesses too.

[lhfly2019]

In my mind,the BYTEBALL is the best alter-coin derived from the bitcoin,but more than bitcoin.
In the past two years,I saw the BYTEBALL team make a huge jump.
In China,more and more fans are emerging.
I will invest more in the BYTEBALL...

[byteball3r]

I have published a paper about what I consider being design flaws when you look at how Byteball does (not) decentralize.

Open for comments.

https://medium.com/@prat486/byteball-move-proposal-831187509ed0

Great proposal that will likely be ignored. So sad to see the dev pushing so many away from the project including the only competing witness. There are just a few simple things Tony needs to do that have been mentioned here countless times.

[sailthor]

It is clear that Tony can manipulate the market price of byteball with his own announcements.

He can buy in the market, then announce a good new, pumping the price and then sell his byteballs just before announcing bad news, to buy again lower.

This is not serious and makes me not to believe any more in this project and so I have sold my byteballs. Not interested in beeing a holder any more.

Your questioning on Tony is no sense. He, as the owner of the Byteball, can reserve more for development. No need for manipulation of the price with your "method".

I am also not happy about the change of the distribution method, as I bought some Byteball months ago for obtaining the new rewards.
However, I still believe in What Tony are making effort is good at the future of Byteball.

Hold my Gbyte, anyway.

He can do this as he has total control of 40% of the supply. That is fact and reality, no escaping it. I'd 'like' to think he's a good guy and won't sucumb to temptations (the very fact he has stopped lunar airdrops is worrying in that regard). However I'd prefer to just get the distribution done and get on with using a decentralised byteball and not worry about what Tony might or might not do.  That goes for decentralising the witnesses too.

Yep. I don't know why I FOMO'd in so quickly to this coin. I surely would take it back and wait till it became decentralised before I invested.

[alex_mercer]

-snip-
Yep. I don't know why I FOMO'd in so quickly to this coin. I surely would take it back and wait till it became decentralised before I invested.

I thought Byteball was built on top of Byzantine model. Can it be decentralized?

In my mind,the BYTEBALL is the best alter-coin derived from the bitcoin,but more than bitcoin.
-snip-

It's actually very different, but not being a copycat of it gives Byteball a huge advantage, since it's not in direct competition with Bitcoin.

[jjacob]

-snip-
Yep. I don't know why I FOMO'd in so quickly to this coin. I surely would take it back and wait till it became decentralised before I invested.

I thought Byteball was built on top of Byzantine model. Can it be decentralized?

Sailthor is talking about the distribution of Byteball. Right now a significant portion of the total supply is in Tony's hands and has not been distributed. Once it has been distributed (through airdrops in the past and new distribution methods as outlined by Tony), we may find out how the eventual distribution across users looks like.