Obyte: Totally new consensus algorithm + private untraceable payments

[nemesiq]

I think textcoins are a really powerful application, we might think about using this in the distribution methods, we could send free coins to people through the mail and recover the ones that has not been used, given a timelapse. What do you think about that?

[Marc De Mesel]

I disagree about the March airdrop though, I consider it a PR disaster.  Also I don't see anything wrong with short term gains if thats what one wants to do with their bytes. Not what I was planning to do, I'd have HODL'D  but still I see nothing wrong with it. The whole point they would have been in circulation which is the entire point. Free market. I can speculate that many who sold might have kept byteball on their radar, and one day might have bought back in at higher prices. Whos to say?

For those with a longer term interest they now have to factor that holding for long term now means you can't count on benefiting from any of the new methods of airdrop but you can count on the supply being increased by 40%. You can't know the timeline for this though. The reasons to hold longer term appear to have diminished, that is surely hard to deny.

There is no problem with short term decision making, unless it is at the expense of long term.

People bitching and whining give no shit about Byteball's long term prospects and were in it mostly to dump on the predictable pump airdrops caused.

It would have harmed the long term success of Byteball to do another airdrop blowing many coins with little adoption to show for.


Your logic that the supply will be increased now as they no longer go to existing byteball holders is correct.

But if you use this supply profitably, ie: you give less coins to someone than the value they add to the network, the value of your bytes will go up with every transaction.

Getting tired of the false argument you and many others are continuing to make.

[ekoja]

I think textcoins are a really powerful application, we might think about using this in the distribution methods, we could send free coins to people through the mail and recover the ones that has not been used, given a timelapse. What do you think about that?

I agreed that textcoins are a really powerful application. However, the market doesn't think so. I can check the recent price.

[Sythyn]

SilentNotary Announces The Sell of It’s Token On the Byteball platform
http://markets.financialcontent.com/stocks/news/read/35908817

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

[afbitcoins]

I disagree about the March airdrop though, I consider it a PR disaster.  Also I don't see anything wrong with short term gains if thats what one wants to do with their bytes. Not what I was planning to do, I'd have HODL'D  but still I see nothing wrong with it. The whole point they would have been in circulation which is the entire point. Free market. I can speculate that many who sold might have kept byteball on their radar, and one day might have bought back in at higher prices. Whos to say?

For those with a longer term interest they now have to factor that holding for long term now means you can't count on benefiting from any of the new methods of airdrop but you can count on the supply being increased by 40%. You can't know the timeline for this though. The reasons to hold longer term appear to have diminished, that is surely hard to deny.

There is no problem with short term decision making, unless it is at the expense of long term.

People bitching and whining give no shit about Byteball's long term prospects and were in it mostly to dump on the predictable pump airdrops caused.

It would have harmed the long term success of Byteball to do another airdrop blowing many coins with little adoption to show for.


Your logic that the supply will be increased now as they no longer go to existing byteball holders is correct.

But if you use this supply profitably, ie: you give less coins to someone than the value they add to the network, the value of your bytes will go up with every transaction.

Getting tired of the false argument you and many others are continuing to make.

It would have harmed the long term success to do another airdrop?? Really? By that logic Tony should have done no airdrops and HODL'd 100% of the coins to avoid harming the long term success. Your argument has no logic. Have you seen the price of byteball lately? That extra value of distributing small amounts isn't working so far.

Then you call my argument false and in the same paragraph you say my logic is correct!

Central bankers think this way too. We can be better than the market IF we tweak the markets, we can avoid a market crash if we print billions of dollars. Maybe Tony should make himself a print bytes button? Then he can have as many bytes as he sees fit.

The coins should be distributed not HODL'd. The coins were not designed to be a treasury they were designed to be circulating. The roadmap clearly showed that 98% would circulate. Free market should decide the value of the coins. Tony should stick to the roadmap and stick to developing.

[Marc De Mesel]

It would have harmed the long term success to do another airdrop?? Really? By that logic Tony should have done no airdrops and HODL'd 100% of the coins to avoid harming the long term success. Your argument has no logic. Have you seen the price of byteball lately? That extra value of distributing small amounts isn't working so far.

The airdrop worked in the beginning as it went to bitcoin holders that were not byteball holders. So first airdrop boarded all new users.

However, subsequent airdrops also gave to not only bitcoin holders but also byteball holders, who were already onboarded.

This was chosen to reward early adopters, but I think was overdone, too high a reward compared to bitcoin linkers.


This started a strong buying pressure to have more bytes, as they also earned a big dividend, pushing up the price rapidly in the first few months.

This attracted again more bitcoiners linking their address, and so new users also continued to come in, albeit at a slower and slower pace as most linked bitcoins were already linked in the airdrop before.



The peak was reached somewhere in the middle of 2017 when unsustainable price acceleration collapsed and amount of bitcoins linked started to go down peaking at 1.3 million.

Since then amount on newly installs of the client slowed down a lot, and so the evidence was in that the airdrops did not longer work well, but still continued to cost a fortune.

Roadmaps change as results come in. Goal has always been adoption.


We clearly disagree so I will leave it be.

[afbitcoins]

It would have harmed the long term success to do another airdrop?? Really? By that logic Tony should have done no airdrops and HODL'd 100% of the coins to avoid harming the long term success. Your argument has no logic. Have you seen the price of byteball lately? That extra value of distributing small amounts isn't working so far.

The airdrop worked in the beginning as it went to bitcoin holders that were not byteball holders. So first airdrop boarded all new users.

However, subsequent airdrops also gave to not only bitcoin holders but also byteball holders, who were already onboarded.

This was chosen to reward early adopters, but I think was overdone, too high a reward compared to bitcoin linkers.


This started a strong buying pressure to have more bytes, as they also earned a big dividend, pushing up the price rapidly in the first few months.

This attracted again more bitcoiners linking their address, and so new users also continued to come in, albeit at a slower and slower pace as most linked bitcoins were already linked in the airdrop before.



The peak was reached somewhere in the middle of 2017 when unsustainable price acceleration collapsed and amount of bitcoins linked started to go down peaking at 1.3 million.

Since then amount on newly installs of the client slowed down a lot, and so the evidence was in that the airdrops did not longer work well, but still continued to cost a fortune.

Roadmaps change as results come in. Goal has always been adoption.


We clearly disagree so I will leave it be.

Yes we do clearly disagree. If you want to increase the user base one of the first things you do is try to keep your existing users not lose them.

[jwinterm]

Price is only down like 70% since cancellation of airdrop. How can you not interpret that as a great success and ringing endorsement from the community of folks who already owned byteballs? Clearly price would have dropped like 90% if coins were distributed on full moon

[byteball3r]

Price is only down like 70% since cancellation of airdrop. How can you not interpret that as a great success and ringing endorsement from the community of folks who already owned byteballs? Clearly price would have dropped like 90% if coins were distributed on full moon

Yes. Market also very excited about the complete ignorance of Bytefan's concerns by the dev "team".

[size_m]

Price is only down like 70% since cancellation of airdrop. How can you not interpret that as a great success and ringing endorsement from the community of folks who already owned byteballs? Clearly price would have dropped like 90% if coins were distributed on full moon

yes, exactly my point.

this march airdrop should have been the last one but it was the very wrong decision to cancel it in the last moment after advertising it for several weeks and giving investors a false motivation to invest.
how should investors and supporters keep believing this head developer and main coin holder after this?
although he might have not promised it 100% he still changed his mind about a very big issue with lots of investors and supporters being involved who are very upset about his sudden mind change and lost their trust in him.

i actually think it was not his own idea to cancel this airdrop, it was rather the "great idea" of some of the newly hired consultants and "marketing experts".
their ideas for the new distribution methods might be not bad in theory how they could work but in practice these methods will fail and the whole project will suffer (does already) because of this "innovative" idea/decision.
after doing this last airdrop there would have been still enough of coins left for these "little nice ideas" to try these new ways of distribution.
but that way they wouldn't have had so many investors and (former) supporters being upset and would have maintained the overall trust of the community.

let's just hope that in long term the good technical structure of this coin makes it survive this issue and grow again.
i hope they will find some better ideas for the distribution of the rest 40% in which the actual supporters could take part a little more.

 

[mishax1]

Are you doing any PR work ?

[bitserve]

I read this thread from time to time... and it is always the same. People doesn't get that Byteball is not about price, value or anything except an experiment in testing what would happen if all (previously assumed) good crypto market practices (such as decentralization and trust) were blatantly ignored. As such, it is doing a great job in testing and confirming they were in fact the way to go.

 

[jjacob]

I read this thread from time to time... and it is always the same. People doesn't get that Byteball is not about price, value or anything except an experiment in testing what would happen if all (previously assumed) good crypto market practices (such as decentralization and trust) were blatantly ignored. As such, it is doing a great job in testing and confirming they were in fact the way to go.

True. The only saving grace is that there are a lot of bag holders, who think that it cannot get worse from now onwards. Unfortunately, Byteball's price keeps dropping and it does keep getting worse. If this continues, it won't be long before Byteball drops from the top 100. When that happens, you can be sure that anybody who is new to crypto will not give it a second look.

[bitserve]

I read this thread from time to time... and it is always the same. People doesn't get that Byteball is not about price, value or anything except an experiment in testing what would happen if all (previously assumed) good crypto market practices (such as decentralization and trust) were blatantly ignored. As such, it is doing a great job in testing and confirming they were in fact the way to go.

True. The only saving grace is that there are a lot of bag holders, who think that it cannot get worse from now onwards. Unfortunately, Byteball's price keeps dropping and it does keep getting worse. If this continues, it won't be long before Byteball drops from the top 100. When that happens, you can be sure that anybody who is new to crypto will not give it a second look.

Another saving grave is that many people like me still hold the bag as some sort of hedge against "common sense crypto practices"... just in case those failed completely, you know. At the moment it is working perfectly as a hedge (being -10x than its ATH in BTC pair). As such, I will keep holding even until pennies, no worries here.

[ByteFan]

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

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



Note: the following link may be claimed only once.

Here is your link to receive 1,000,000 Bytes: http://www.beeb-bot.com/textcoinclaim.php#textcoin?auto-legend-tank-rely-feature-more-radar-verify-tumble-equal-rather-penalty

[miramare]

I read this thread from time to time... and it is always the same. People doesn't get that Byteball is not about price, value or anything except an experiment in testing what would happen if all (previously assumed) good crypto market practices (such as decentralization and trust) were blatantly ignored. As such, it is doing a great job in testing and confirming they were in fact the way to go.

 

I can't get your points. After the total distribution ending, it can be treated as decentralization. However, you are right, it is not now.

[naska21]

Price is only down like 70% since cancellation of airdrop. How can you not interpret that as a great success and ringing endorsement from the community of folks who already owned byteballs? Clearly price would have dropped like 90% if coins were distributed on full moon

Yes. Market also very excited about the complete ignorance of Bytefan's concerns by the dev "team".

The sad side of story is  that people have started losing interest  in Byteball after seeing whats happening,  right now this people are getting desperate for selling their Gbytes.

[BTCWagering]

If Byteball is such a shitcoin, why did Cryptopia steal all their customers' GBYTE deposits?

They've confiscated all of the GBYTE on Cryptopia for over 3 months -- since early December.

They don't respond to support tickets. They pretend business is ongoing, but still all the bytes are stolen.

Why do they want bytes so bad?

Maybe this was another reason for cancelling the airdrop -- people would have been even more upset when an endorsed exchange had Gox'd a huge % of users, since GBYTE is only on a few exchanges.

Will the distribution funds be use to reimburse Cryptopia users when people finally admit that Cryptopia ran off with all the bytes?

[pineapple express]

Maybe this was another reason for cancelling the airdrop -- people would have been even more upset when an endorsed exchange had Gox'd a huge % of users, since GBYTE is only on a few exchanges.

Will the distribution funds be use to reimburse Cryptopia users when people finally admit that Cryptopia ran off with all the bytes?

thanks mate, this post should definitely go in the top 10 of this thread
this probably too "I can't get your points. After the total distribution ending, it can be treated as decentralization."

[HostC]

I like the private untraceable payments aspect of it! Interesting.