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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1161514 times)
Freefactomizer
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May 31, 2018, 08:03:38 AM
 #19201

Byteball is interesting in features it enables but we should not forget its sins:

- the Byteball system is essentially a shared database between 12 witnesses and the rest of nodes
- it is a trusted system - you need to trust that witnesses behave honestly and are not colluding to form a cartel
- it is easily susceptible to hostile takeover. A rogue third party only needs to take control over 11 witnesses which is rather easy at government/court/police gunpoint
- for that reason the entire system can be shut down at any time


You don't need to trust witnesses since you can check by yourself that they behave honestly.
You forgot that a witness that feels threatened can transfer its duty to another entity in a matters of minutes using an address definition change.
You forgot that users can decide which witnesses to use and revoke any witness that would be compromized.

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tamphan0601
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May 31, 2018, 08:05:17 AM
 #19202

nteresting project with new distribution system. if anyone holding a lots of btc,he'll receive a big share of BYTEBALL Cheesy
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May 31, 2018, 11:11:55 AM
Last edit: May 31, 2018, 11:50:22 AM by StandingTall
 #19203

Byteball is interesting in features it enables but we should not forget its sins:

- the Byteball system is essentially a shared database between 12 witnesses and the rest of nodes
- it is a trusted system - you need to trust that witnesses behave honestly and are not colluding to form a cartel
- it is easily susceptible to hostile takeover. A rogue third party only needs to take control over 11 witnesses which is rather easy at government/court/police gunpoint
- for that reason the entire system can be shut down at any time

You don't need to trust witnesses since you can check by yourself that they behave honestly.

And what I and all users can do with misbehaving witness that formed a cartel?


You forgot that a witness that feels threatened can transfer its duty to another entity in a matters of minutes using an address definition change.

How about witness that doesn't have time to "feel threatened". Do you think government or any hostile party will reveal its intensions by notifying the witness so he can "feel threatened" and "transfer its duty"? That's just laughable.

Remember this: https://en.wikipedia.org/wiki/Liberty_Reserve

Bitcoin only exists because it can't be shut down. That's the whole point behind PoW system. Nobody has come up with anything equally resilient to takeover and not consuming so much energy. But it is well spent energy. Any PoS system devised so far is susceptible to being shut down with any charges that powers that (should not) be can concoct. Doesn't "money laundering and operating an unlicensed financial transaction system" sound good as a pretext to preserve the power and control over money system? Liberty Reserve operated unabated as long as it became to big and popular to allow it to function further. Once that happens any centralised system will be shut down right away.

You forgot that users can decide which witnesses to use and revoke any witness that would be compromized.
That's plain wrong. Users can decide to change ONLY ONE witness. If witnesses form a cartel you can't change more than one which means that you can't force misbehaving witnesses out at all. In this scenario users can only fork the entire system or make "a schism" like it's described in the white paper.

Please keep the discussion on the fact based opinions.

Chancellor on brink of second bailout for banks
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May 31, 2018, 12:00:03 PM
 #19204

hi, I need help. I sent bytes from one wallet to another and the bytes never arrived. what should I do?
Alcibiades Agnes
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May 31, 2018, 05:50:00 PM
Last edit: May 31, 2018, 06:08:32 PM by Alcibiades Agnes
 #19205

I hope byteball team keep the momentum in Venezuela.

Venezuela Byteball is with you!

"We don't know what the hottest crypto project in South America is, but at the Simón Bolívar University in Venezuela it might be Byteball! 6,000 email addresses attested in one week as part of the first ever Byteball "

https://twitter.com/ByteballOrg/status/1002225449739661312/photo/1?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcoinmarketcap.com%2Fcurrencies%2Fbyteball%2F

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May 31, 2018, 10:18:17 PM
 #19206

and there has to be found new ways to distribute the remaining coins.
are there new ideas that hasn't be talked about yet?
or why not just burn them?

I would prefer to see them burned. We don't need more dilution. I just dont see the coins doing enough in advertising and enticing new investment to balance out another 30% dumped on the market to flippers.

shame because one of the best projects out there technically.


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May 31, 2018, 11:28:47 PM
 #19207

I tried to sell some GBB there via Chat-Bot, and have already made the payment. but nothing happened. my balance is still the same, why is this so?
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June 01, 2018, 06:22:19 AM
 #19208

I tried the Altcoin Byteball Exchange Bot yesterday but no luck in having my funds swapped. Any news?

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
bitcointrader56
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June 01, 2018, 10:59:04 AM
 #19209

 I think Byteball should partner with more universities. Students are the entrepreneurs of tomorrow.
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June 01, 2018, 11:05:45 AM
 #19210

I think Byteball should partner with more universities. Students are the entrepreneurs of tomorrow.
Especially in the their world, developing countries. There are lots of talented guys in those places who can change the world entirely.
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June 01, 2018, 12:24:26 PM
 #19211

hi, I need help. I sent bytes from one wallet to another and the bytes never arrived. what should I do?

Have you checked in the explorer https://explorer.byteball.org? Do you see your bytes anywhere? Maybe you mistyped the destination address.

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June 01, 2018, 01:52:17 PM
Last edit: June 01, 2018, 02:06:46 PM by Alcibiades Agnes
 #19212

BYTEBALL
 is
Disrupting the Disrupters:
Will DAG Become Better Alternative Solution to Blockchain?



"Though one cannot avoid the fact that there are more developers on the Blockchain side, the need of a robust system in cryptocurrencies like DAG are attempting to disrupt the very technology that is disruption the world of secure digital transaction blockchain’s enterprise vision is based on."

http://www.iotevolutionworld.com/iot/articles/438280-disrupting-disrupters-will-dag-become-better-alternative-solution.htm
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June 01, 2018, 01:58:20 PM
 #19213

hi, I need help. I sent bytes from one wallet to another and the bytes never arrived. what should I do?

Transaction should be instant in the GBYTE application. Did you send to the correct address?

I assume that you are using a mobile operating system, try to close the entire app, clear any background applications, and let your GBYTE application sync again!
meterse
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June 01, 2018, 05:15:26 PM
 #19214

Watch Masha trying to buy crypto on her own for the first time https://buff.ly/2He9ZLE  Leave a comment on Youtube - do you think she will manage to buy Bytes? Maybe crypto is not as easy as those knee deep in the crypto world like to tell everyone
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June 01, 2018, 08:31:16 PM
 #19215

Hi byteball team,
Is there any plans to list black bytes in any exchange ? I have bought many of it from a friend who was selling it for cheap, now I am not sure how to sell it myself.
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June 02, 2018, 12:34:40 AM
 #19216

Are you still bothering to run your WCG software in the mean time, or you just holding off?
Yes of course I am... As far as I'm concerned, the Byteball rewards from running WCG are secondary. I already had WCG running prior to the Byteball team setting up the WCG bot... and besides, the rewards don't even recover the electricity used, but my computer is on 24/7 and I spend large amounts of time not using it... so why not help out for a good cause? Wink


Is there any plans to list black bytes in any exchange ? I have bought many of it from a friend who was selling it for cheap, now I am not sure how to sell it myself.
The whole point of BlackBytes are that they are an anonymous P2P system of payment... you can't put them on an exchange. If you want to sell them, use one of the bots in the wallet ("Chat" -> "Bot Store")...

There is "BEEB" aka "Blackbytes Escrow Exchange Bot"... or "FreeBe" aka "Blackbyte Exchange"... Either one will let you convert GBB to GB... you can then sell GB using one of the other exchange bots, or send to a centralised exchange like Bittrex

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June 02, 2018, 03:09:04 AM
 #19217

The price chart of Byteball shows that it has almost hit the latest bottom.
Please check it there if you interested:
https://coinmarketcap.com/currencies/byteball/
It means Byteball come closer to the point from which it bounce back.
layer1gfx
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June 02, 2018, 05:26:53 AM
 #19218

I think Byteball should partner with more universities. Students are the entrepreneurs of tomorrow.
Especially in the their world, developing countries. There are lots of talented guys in those places who can change the world entirely.

yes, what byteball did in venezuela is amazing and the right step to get more people involved. universities in general and the departments who teach technology and finance should have cryptocurrencies and the blockchain technology as a topic by now. the future of money is already happening.


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June 02, 2018, 10:40:47 AM
 #19219

The WCG bot cannot access the WCG stats page at the moment. The GDPR caused them to close access to their api. Byteball already applied for a token that allows access but it's still pending. The bot will catch up when access is restored, so just keep crunching, guys :-)
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June 02, 2018, 12:34:08 PM
 #19220

Monero, Zcash and Dash are being delisted from Coincheck under pressure from Japanese authorities. An opportunity for Blackbytes?

https://medium.com/@byteballjesus/monero-zcash-and-dash-are-being-delisted-under-pressure-from-japanese-authories-a8933cf4736a


lots of exchanges will avoid this kind of coins... lets see when they come back with a big plan
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