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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1151738 times)
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March 06, 2018, 09:45:24 PM
 #17701

Regular people aren't scared to show their ID to a legit company like Jumio.

i've never heard of jumio.

regular people associate crypto with drug dealing, pedophiles and scams. if it was being distributed through their local bank or paypal then that's a different matter. they're not gonna go for this in the form it is.
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March 06, 2018, 11:24:08 PM
 #17702

Tony and Byteball in danger?

The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes
.

Quote
The ministry assumes serious responsibility, right up to criminal ones, for arranging schemes, issuing money substitutes and receiving them…This concerns the payments in cryptocurrency.
https://news.bitcoin.com/russia-drafts-law-criminalize-use-cryptocurrencies-money/


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March 06, 2018, 11:27:37 PM
 #17703

Tony and Byteball in danger?

The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes
.

Quote
The ministry assumes serious responsibility, right up to criminal ones, for arranging schemes, issuing money substitutes and receiving them…This concerns the payments in cryptocurrency.
https://news.bitcoin.com/russia-drafts-law-criminalize-use-cryptocurrencies-money/



nope. russia has never followed through on anything ever. all they do is threaten and then nothing happens. when someone else wakes up the next day they directly contradict the previous statement.

best ignored.
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March 06, 2018, 11:27:53 PM
 #17704

So it's like PayPal controlled by 12 entities. Could not it have regulatory issues?

What about this KYC/AML compliance, does this extend to the whole project?

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March 07, 2018, 12:28:55 AM
Last edit: March 07, 2018, 01:21:50 AM by afbitcoins
 #17705

I think you're wrong. The last airdrop WAS botched, but don't throw the baby out with the bathwater.

Regular people don't even know what decentralized means. And the goal is to get to regular people. Regular people aren't scared to show their ID to a legit company like Jumio.

It takes time to reach the next inflection point, and that's what we're waiting on right now.

Ripple is basically the reference point here. Ripple is 60% undistributed and also still has centralized validators.

Byteball is an app (bot) platform. The relevant metric is the quality of the bots in the bot store. Right now I would describe them as promising, not great. But fortunately building bots is easy, and many more are surely on the way.

I think you are wrong  Grin Regular users don't lead they follow (or do what they are told by authority) The adoption curve always shows regular users coming in late to the party like always with new technology. There is no shortcut straight to mainstream unless forced by government. I don't forsee any governments forcing regular users to use byteball in the shortterm. As I said in my previous post, the expected demographic of users in these early days would be crytpo enthusiasts for whom centralisation is a big No and who know the difference between a blockchain and a DAG and who are willing to figure out adding a bot from the bot store or a conditional payment.

Ripple is nothing to aspire to. The mere fact that 60% of XRP is still undistributed after years puts the centralised reality of the token blatently out there in plain view. It stretches credibility a lot to even call it a crypto currency. It has a centralised ledger not a blockchain. Or I'm wrong again? If you hadn't guessed I am not a fan of ripple and have no intention of ever investing in it.

Quote
If anyone can provide information about the above distribution methods
cashback https://explorer.byteball.org/#TU3Q44S6H2WXTGQO6BZAGWFKKJCF7Q3W
jumio https://explorer.byteball.org/#RJIUGYIVHM5TAZHU3ZPNTNZL5JF4JUTN

Quote
to be as decentralised as possible. That means all coins distributed as utmost priority
decentralisation is just about algorithm and means no single point of failure. No matter how many witnesses, this model always will be vulnerable to attacks from the government. No company will agree to remain a witness under the threat of imprisonment
as for the distribution of coins, then regardless of the initial distribution, in the future most of the pie will always belong to a few, and most will be satisfied with crumbs. The distribution of wealth is not a criterion determining the trust to the network. The rich get richer, this is a natural process. In turn, an shady, hasty distribution to a narrow circle of individuals, will forever destroy the reputation of the network

Thanks for that. Actually I share those concerns about witnesses but wanted to stick to coin distribution as the focus of my post. And yes I agree that the coins will always be distributed that way. It is the way of things. But I don't think you can really truthfully call 40% of undistributed coins as actually distributed afterall, but to the creator and without ever having circulated first.

Just to add a few additional thoughts. The example of Dash in my view is one to look at with great interest. Similar to Tony, Evan Duffield started out as THE dictator / dev in full control of Dash (then Darkcoin) like Tony is with Byteball. What Evan went on to do was genius in my view. He implemented Dash with a self funded treasury and voting mechanisms how to spend it. Nodes are incentivised with rewards which are a portion or mining rewards and thereby incentivised to scale up as network usage increases or lose those rewards.  Dash uses this treasury funding to pay its developers and in fact Evan has relinquished control completely from the development side of it. Dash also funds marketing and other things too through the same mechanism. The decision whether to fund or not decided by vote amongst the masternode holders. The number of masternodes is at all time highs just now showing long term faith by the big investors. The technology for all of this was quite simple it was the economics of it that provided the genius. If you haven't spotted it, this is a virtuous circle. Dash funds itself to improve and the value increases which means the funds available in the treasury for the next round go further which increase the value further and so on.

It seems that Tony wishes to use the un-distributed bytes as a treasury of sorts to spend enticing new users and to fund projects to promote and improve byteball. But the differences in how Dash has done it are vastly better with Dash. Tony appears to be looking at the pot of undistributed funds dwindling away through airdrops and panicked, halting the airdrops to stop the outflow and conserve the treasury he has at his disposal. Though he is not being explicit in this. Unlike Dash in which the treasury is replenished,  byteball's 'treasury' isn't, and once spent won't be available again. In Dash the treasury  is explicitly a treasury to be spent improving Dash, with byteball these undistributed bytes are supposed to be currency circulating through the network and because that has changed is causing uncertainty and angst among investors who are being sold a different thing. In Dash thousands of masternodes vote which proposals to fund, in byteball Tony decides, then sometimes changes his mind.

If the Dash model was to be followed could a portion of the fees collected by byteball witnesses be used to fund a treasury? Just a thought.

I feel a bit mean saying all this. I'd like to emphasise that I recognise Tony is a genius developer and has created an amazing coin. I hope that is understood. I wouldn't have invested or even be here commenting if I wasn't impressed with what Tony is doing and has already done.  

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March 07, 2018, 09:12:12 AM
 #17706

Regular people aren't scared to show their ID to a legit company like Jumio.

i've never heard of jumio.

regular people associate crypto with drug dealing, pedophiles and scams. if it was being distributed through their local bank or paypal then that's a different matter. they're not gonna go for this in the form it is.

And the more you give out your identity to online services, no matter what or who they are, you are increasing the attack surface on your identity. I guess it's somehow inevitable since we are getting more wired every day.


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March 07, 2018, 09:28:34 AM
 #17707

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

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March 07, 2018, 10:25:48 AM
 #17708

The example of Dash in my view is one to look at with great interest. Similar to Tony, Evan Duffield started out as THE dictator / dev in full control of Dash (then Darkcoin) like Tony is with Byteball. What Evan went on to do was genius in my view. He implemented Dash with a self funded treasury and voting mechanisms how to spend it. Nodes are incentivised with rewards which are a portion or mining rewards and thereby incentivised to scale up as network usage increases or lose those rewards.  Dash uses this treasury funding to pay its developers and in fact Evan has relinquished control completely from the development side of it. Dash also funds marketing and other things too through the same mechanism. The decision whether to fund or not decided by vote amongst the masternode holders. The number of masternodes is at all time highs just now showing long term faith by the big investors. The technology for all of this was quite simple it was the economics of it that provided the genius. If you haven't spotted it, this is a virtuous circle. Dash funds itself to improve and the value increases which means the funds available in the treasury for the next round go further which increase the value further and so on.

It seems that Tony wishes to use the un-distributed bytes as a treasury of sorts to spend enticing new users and to fund projects to promote and improve byteball. But the differences in how Dash has done it are vastly better with Dash. Tony appears to be looking at the pot of undistributed funds dwindling away through airdrops and panicked, halting the airdrops to stop the outflow and conserve the treasury he has at his disposal. Though he is not being explicit in this. Unlike Dash in which the treasury is replenished,  byteball's 'treasury' isn't, and once spent won't be available again. In Dash the treasury  is explicitly a treasury to be spent improving Dash, with byteball these undistributed bytes are supposed to be currency circulating through the network and because that has changed is causing uncertainty and angst among investors who are being sold a different thing. In Dash thousands of masternodes vote which proposals to fund, in byteball Tony decides, then sometimes changes his mind.

If the Dash model was to be followed could a portion of the fees collected by byteball witnesses be used to fund a treasury? Just a thought.


Awesome to see Bitcoin legends like you, BurtW and dooglus particpate here!!! Grin


Agree that Dash did an amazing job with their platform where anyone can propose to do/create something, and coinholders can vote on it, in decentralizing the power more and engaging the community very well in building and getting things done.

Indeed there is one crucial difference in that Byteball has limited supply whereas Dash his supply is replenished. Still inflation in Dash goes down, so it is replenished less and less compared to value of the project. Byteball could also do a gradual lowering of funding such an initiative and still keep it going for many years.


I personally think that cancelling the March airdrop for Byteball holders was the right move. It replaced people that held bytes for mainly short term gains with more long term thinkers who can see the benefit of cancelling the airdrops to byteball holders for good.

One should be very careful to celebrate people leaving the project, but Byteball due to it's 'free' airdrops had attracted way too many people only in it for a quick buck, complaining constantly about more marketing, change name, change unit of account, more exchange listings etc, while doing themselves nothing productive for the project. Think the project is better off without them.

Let's build this into a diamond.



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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March 07, 2018, 10:28:11 AM
 #17709

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?frost-ship-muscle-embrace-early-crime-sheriff-oblige-around-churn-promote-afford

I tried to claim the Bytes from this promotion, but the bot says it's already claimed. Was it a one-time promotion?
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March 07, 2018, 12:14:54 PM
 #17710

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?frost-ship-muscle-embrace-early-crime-sheriff-oblige-around-churn-promote-afford

I tried to claim the Bytes from this promotion, but the bot says it's already claimed. Was it a one-time promotion?

Yes it is. Come back often to this thread for an other fresh textcoin link.

Byteball payment gateway for web merchants https://byteball-for-merchants.com/ - BEEB  (Blackbytes Exchange Bot): https://www.beeb-bot.com/ (closed)
Network map, stats, Top Richests and Byteball world map at https://byteball.fr/ (closed) - Hub operator featuring the cashback witness https://byteball-cashback-witness.com (closed)
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March 07, 2018, 03:07:22 PM
 #17711

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .
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March 07, 2018, 03:38:01 PM
 #17712

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
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March 07, 2018, 03:56:34 PM
 #17713

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.

I think people from Venezuela will be highly interesting in use this promotion and get some easy cash and create an ecosystem out of byteball.
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March 07, 2018, 04:07:19 PM
 #17714

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.

I think people from Venezuela will be highly interesting in use this promotion and get some easy cash and create an ecosystem out of byteball.
no one sell their identity to the network where the owner controlled 40% of the value and 100% of the network.
That's the reality, if it were different we would not have the problems.
And the byteball project is not alone in the market,

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March 07, 2018, 04:12:34 PM
 #17715

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.

I think people from Venezuela will be highly interesting in use this promotion and get some easy cash and create an ecosystem out of byteball.
no one sell their identity to the network where the owner controlled 40% of the value and 100% of the network.

I understand the need to be careful with disclosing your ID, it's can be hacked and used for a number of bad things but your argument doesn't make sense. Whats this person going to do with your ID? Create bogus credit card applications, sell it on to someone who will? You just stated he controls 40% of the value and certainly doesn't need the money.
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March 07, 2018, 04:13:12 PM
 #17716

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
I would not either. But there are such poor countries who are ready to do this without any doubts and regrets
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March 07, 2018, 04:17:14 PM
 #17717

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
I would not either. But there are such poor countries who are ready to do this without any doubts and regrets
But these poor users have a pc or smartphone (with stable electricity and network) to collect $20 (-8$) and to do what? Grin

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March 07, 2018, 04:24:49 PM
 #17718

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
I would not either. But there are such poor countries who are ready to do this without any doubts and regrets

yeah, but without any doubts and regrets they will dump at once and  just pretty much screw the whole thing up.
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March 07, 2018, 04:29:14 PM
 #17719

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
I would not either. But there are such poor countries who are ready to do this without any doubts and regrets

yeah, but without any doubts and regrets they will dump at once and  just pretty much screw the whole thing up.

What would be other ways we could distribute this? Referral fees for both new joiner and the referrer works well (See this in both Crypto and real world with Uber) but can we stop this getting abused and only apply to genuine users? minimum time period before funds can be sold or a number of transactions to take place prior to funds being released?
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March 07, 2018, 04:35:27 PM
 #17720

$20 for an registration with my personal ID, I think it is to cheap. $200 are better, this are our personal information and they are valuable. $20 is a joke in my opinion.

I would not sold my personality even for $2000. Looks like Byteball is launching a hunt for schoolboys .

That's the hard part for a good distribution model.
The initial plan is to involve more people in, but try the best to avoid the cheaters by IDs.
But in the crypto world, few peoples would like to "sell" their IDs for only $20. At least, not me.
I would not either. But there are such poor countries who are ready to do this without any doubts and regrets

yeah, but without any doubts and regrets they will dump at once and  just pretty much screw the whole thing up.

What would be other ways we could distribute this? Referral fees for both new joiner and the referrer works well (See this in both Crypto and real world with Uber) but can we stop this getting abused and only apply to genuine users? minimum time period before funds can be sold or a number of transactions to take place prior to funds being released?
Airdrop only to Byteball-users up to 100% or 99% and just let the free market work. bitcoin works in the same way, buy a miner and grab your rewards, that's it. here is no PoW or PoS so Airdrop for all byteball users and go.

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