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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1216112 times)
afbitcoins
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August 23, 2018, 10:33:19 PM
Last edit: August 23, 2018, 11:07:35 PM by afbitcoins
 #19941

CUT

Actions speak louder than words

edit: To be explicit. Undistributed bytes are being given away, but not to the speculator/investor who already bought bytes, they recieve nothing from the remaining pool but it does go elsewhere. Thus the supply is being inflated elsewhere or another way, the value of the unit of byte being diluted. Therefore for the speculator/investor who bought bytes their investment's value is diluted. For the steem user who got some free bytes they don't care the value was diluted, they didn't buy them. It was a windfall. For the speculator / investor who did buy them, now they see that there are more bytes flooding the market. Their own bytes that they bought when they were scarce are not so scarce anymore, the value goes down. It is very basic economics. The speculator/investor has been shafted. To rub salt in the wound, the rug was pulled away without warning. Previously the speculator / investor was standing in line to benefit from airdrops.   Surely you see how this is an explicit negative for the speculator /investor? It isn't a tweet, it is a very definate action against the speculator / investor, an act of hostility.


Sure investors don't get any coins anymore simply for holding, and undistributed funds go to others, but that does not mean that investors get diluted. It all depends on what value Byteball gets back for these undistributed coins they spend on these projects. If value they get back is higher than the coins spend, it will raise the value of all coins in circulation, so the investors profit, but if the value is lower than the coins spend, then all coins go down in value and indeed you can call it dilution.

But a poor investment is not really dilution as it is part of doing business that you will sometimes pay people or projects that end up not delivering. Dilution is when one on purpose creates more units and gives to people that did not create any value, thereby indeed for sure diluting coin/shareholders.


Yes the value can rise and everyone happy even the shafted speculator/investor, if some amazing bull run occurs. Demand 'might' outstrip the increasing supply. So far we have not seen that, the demand has done the opposite and decreased while the supply has increased. Byteball has plummeted down the marketcap chart out of the top 100.

Looking only at the supply side for now, the supply is being inflated by the air drops of undistributed bytes, can we agree so far? That is a headwind to price. Not because of anything to do with byteball but pure economics. The price is determined by supply versus demand. As I said basic economics. Increase of supply without any change in demand means price falls.  And it is necessary that the supply increases, because the bytes have to be distributed. That was the premise from the beginning.

Looking at the demand side now, byteball like most crypto is very very speculative. This is because it is such a fledgling technology. There are very few things you can do with your bytes except share some with friends. Or speculate that the amazing tech will become valuable. Maybe you can buy a pizza somewhere? I don't know. I haven't seen any real adoption of bytes yet myself and haven't found a place to buy a pizza with my bytes. Therefore we are at a time in byteballs history where speculation is very important. That is currently, wether you like it or not, its main use. And yet the byteball powers that be have decided to shaft the speculator / investor in order to try and grow the network by giving freebies to other crowds while simultaneously diverting away from speculator/investor, ie shafting the main user.

It seems like you byteball techies are amazing at tech but clueless about economics. The proof is in the fall that byteball took down the rankings. Even in a crypto wide bear market byteball suffered much much worse. Because it failed to observe basic economic priniciples about supply and demand and/or failed to see where the demand was coming from at this time in the byteball history. You can't have an entire working ecosystem spring into existence like a magic trick. It has to grow. Speculators are a vital part of the process.


* I made a couple of additional minor edits to try and clarify certain points.


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August 23, 2018, 10:48:24 PM
 #19942

CUT

Actions speak louder than words

edit: To be explicit. Undistributed bytes are being given away, but not to the speculator/investor who already bought bytes, they recieve nothing from the remaining pool but it does go elsewhere. Thus the supply is being inflated elsewhere or another way, the value of the unit of byte being diluted. Therefore for the speculator/investor who bought bytes their investment's value is diluted. For the steem user who got some free bytes they don't care the value was diluted, they didn't buy them. It was a windfall. For the speculator / investor who did buy them, now they see that there are more bytes flooding the market. Their own bytes that they bought when they were scarce are not so scarce anymore, the value goes down. It is very basic economics. The speculator/investor has been shafted. To rub salt in the wound, the rug was pulled away without warning. Previously the speculator / investor was standing in line to benefit from airdrops.   Surely you see how this is an explicit negative for the speculator /investor? It isn't a tweet, it is a very definate action against the speculator / investor, an act of hostility.


Sure investors don't get any coins anymore simply for holding, and undistributed funds go to others, but that does not mean that investors get diluted. It all depends on what value Byteball gets back for these undistributed coins they spend on these projects. If value they get back is higher than the coins spend, it will raise the value of all coins in circulation, so the investors profit, but if the value is lower than the coins spend, then all coins go down in value and indeed you can call it dilution.

But a poor investment is not really dilution as it is part of doing business that you will sometimes pay people or projects that end up not delivering. Dilution is when one on purpose creates more units and gives to people that did not create any value, thereby indeed for sure diluting coin/shareholders.


Yes the value can rise and everyone happy even the shafted speculator/investor, if some amazing bull run occurs. Demand 'might' outstrip the increasing supply. So far we have not seen that, the demand has done the opposite and decreased while the supply has increased. Byteball has plummeted down the marketcap chart out of the top 100.

Looking only at the supply side for now, the supply is being inflated by the air drops of undistributed bytes, can we agree so far? That is a headwind to price. Not because of anything to do with byteball but pure economics. The price is determined by supply versus demand. As I said basic economics. Increase of supply without any change in demand means price falls.  And it is necessary that the supply increases, because the bytes have to be distributed. That was the premise from the beginning.

Looking at the demand side now, byteball like most crypto is very very speculative. This is because it is such a fledgling technology. There are very few things you can do with your bytes except share some with friends. Or speculate that the amazing tech will become valuable. Maybe you can buy a pizza somewhere? I don't know. I haven't seen any real adoption of bytes yet myself and haven't found a place to buy a pizza with my bytes. Therefore we are at a time in byteballs history where speculation is very important. That is currently, wether you like it or not, its main use. And yet the byteball powers that be have decided to shaft the speculator / investor in order to try and grow the network by giving freebies to other crowds while simultaneously diverting away from speculator/investor.

It seems like you byteball techies are amazing at tech but clueless about economics. The proof is in the fall that byteball took down the rankings. Even in a crypto wide bear market byteball suffered much much worse. Because it failed to observe basic economic priniciples about supply and demand and/or failed to see where the demand was coming from at this time in the byteball history.





It's difficult to get people to buy what they don't need and causes material damage.
meterse
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August 24, 2018, 01:56:45 AM
 #19943

Can you help? This is a new thread on how Byteball compares vs Ethereum in raising ICO fund.

https://bitcointalk.org/index.php?topic=4934262.0



 Cool
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August 24, 2018, 05:35:48 AM
 #19944


Where can i have support for beeb bot?

I have a stucked order (id 5726) that appears is state "on hold", and i can't even access the smart contract where beeb made me deposit funds.

Please help.

Now please check your pm on slack

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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August 24, 2018, 09:27:56 AM
 #19945

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

Trade BlackBytes on BEEB! - https://beeb-bot.com



Note: the following link can be claimed only once.

Here is your link to receive 1,000,000 Bytes: https://www.beeb-bot.com/textcoinclaim.php#textcoin?remove-reunion-memory-defense-knock-hero-toddler-device-legend-amazing-debate-pretty


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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August 24, 2018, 11:24:54 AM
 #19946

Funding, Foundation, Moving Forward

The blog about the future of Byteball was very well received in our community and I am glad to be able to announce that we’re moving forward with executing our plans as described.

Read the full story https://medium.com/byteball/funding-foundation-moving-forward-13fed4058ee4


Simplicity is beauty
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August 24, 2018, 02:58:36 PM
 #19947

Funding, Foundation, Moving Forward

The blog about the future of Byteball was very well received in our community and I am glad to be able to announce that we’re moving forward with executing our plans as described.

Read the full story https://medium.com/byteball/funding-foundation-moving-forward-13fed4058ee4


The Byteball project has very widely community around the globe.
It has strong supports from community which has been shown many times over its long history.
Thanks for giving Byteball community link to the article on Medium.
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August 24, 2018, 03:56:21 PM
 #19948



The nearly 70,000 Steem users that also have Byteball wallets can now win prizes by exploring real world use cases on the Byteball platform (competition launched August 24)

https://steemit.com/byteball/@byteball.org/announcing-the-steem-use-a-thon-by-byteball
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August 24, 2018, 04:26:51 PM
 #19949

I'd suggest you join the byteball slack. There, you can also meet all the other people developing for the platform. Particularly the #tech channel is where they hang out Wink https://slack.byteball.org
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August 24, 2018, 04:31:49 PM
 #19950


Where can i have support for beeb bot?

I have a stucked order (id 5726) that appears is state "on hold", and i can't even access the smart contract where beeb made me deposit funds.

Please help.

Now please check your pm on slack

Got a great support on #beeb channel of byteball slack. My problem was solved quickly.

Thank you very much.
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August 24, 2018, 04:35:38 PM
 #19951

Funding, Foundation, Moving Forward

The blog about the future of Byteball was very well received in our community and I am glad to be able to announce that we’re moving forward with executing our plans as described.

Read the full story https://medium.com/byteball/funding-foundation-moving-forward-13fed4058ee4

Quote
Obviously we will also work on making our funding more sustainable, recent price action has shown the need for that quite clearly again. One of the first attempts to achieve this is the recently released option to buy @usernames on our platform. In return for a donation to the Community Fund you are able to get a vanity address on the Byteball network. Buying one helps us to develop the platform further and allows you to show appreciation for the work we’ve done so far.

If Byteball starts charging users for its features it's doomed. I don't see mass adoption when a platform feature costs 60 USD. This is a suicide from the adoption point of view and clearly a shot in the foot. I think it will fail miserably.

First Byteball distributes funds for free to users.  When funds begin to dry out it starts to charge users for its features.


Chancellor on brink of second bailout for banks
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August 24, 2018, 07:52:20 PM
 #19952



The nearly 70,000 Steem users that also have Byteball wallets can now win prizes by exploring real world use cases on the Byteball platform (competition launched August 24)

https://steemit.com/byteball/@byteball.org/announcing-the-steem-use-a-thon-by-byteball

70,000 Steem user break his head for ideas.
Very nice move and thank you again for the @username addon!


If Byteball starts charging users for its features it's doomed. I don't see mass adoption when a platform feature costs 60 USD. This is a suicide from the adoption point of view and clearly a shot in the foot. I think it will fail miserably.

The price is at the moment only a donation.
I think later is the price cheaper.
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August 24, 2018, 08:15:10 PM
 #19953

Funding, Foundation, Moving Forward

The blog about the future of Byteball was very well received in our community and I am glad to be able to announce that we’re moving forward with executing our plans as described.

Read the full story https://medium.com/byteball/funding-foundation-moving-forward-13fed4058ee4

Quote
Obviously we will also work on making our funding more sustainable, recent price action has shown the need for that quite clearly again. One of the first attempts to achieve this is the recently released option to buy @usernames on our platform. In return for a donation to the Community Fund you are able to get a vanity address on the Byteball network. Buying one helps us to develop the platform further and allows you to show appreciation for the work we’ve done so far.

If Byteball starts charging users for its features it's doomed. I don't see mass adoption when a platform feature costs 60 USD. This is a suicide from the adoption point of view and clearly a shot in the foot. I think it will fail miserably.

First Byteball distributes funds for free to users.  When funds begin to dry out it starts to charge users for its features.



It's purely optional -->

Non cryptic address attestation options
1. e-mail address: costs 0.049MB (roughly $0), reward: $10 for Harvard students and Estonian e-residents
2. Steem username: costs 0.049MB (roughly $0) or free if you sign a message, up to $160 reward for high reputation accounts
3. Byteball username: costs 1-10GB, vanity donation option, helps the project get a more sustainable funding basis. Use this option to show your appreciation for the fact that more than 67% of the supply so far has been given away for free.


⚪ Byteball     ❱❱❱     I T   J U S T   W O R K S .    ❱❱❱
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August 24, 2018, 08:40:36 PM
 #19954

The new @username feature is another game changer feature - another must for mainstream adoption. Unfortunatelly a bit too expensive for my personal purse, but I understand the reasons to avoid cryptosquatting.

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August 25, 2018, 12:48:58 AM
 #19955

The new @username feature is another game changer feature - another must for mainstream adoption. Unfortunatelly a bit too expensive for my personal purse, but I understand the reasons to avoid cryptosquatting.

I agree with your sentiments but everything is looking to be moving as planned. All good and set for a bright future for Byteball owners, developers, and pretty much everyone who is into crypto, right?  Cool
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August 25, 2018, 07:24:25 AM
 #19956

A deserved resurrection: Welcome back to the top 100 @ coinmarket cap  Kiss
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August 25, 2018, 10:29:41 AM
 #19957

A deserved resurrection: Welcome back to the top 100 @ coinmarket cap  Kiss

Very superised it dropped out of the top 100.
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August 25, 2018, 10:52:20 AM
 #19958

A deserved resurrection: Welcome back to the top 100 @ coinmarket cap  Kiss

Very superised it dropped out of the top 100.
Byteball is close to reaching the top of a bearish channel and I expect a market  will soon warm it up. looking at Byteball chart, I think it will have more chances to take off.
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August 25, 2018, 04:54:45 PM
 #19959

I'm not sure if on-chain Turing completeness is really necessary for smart contacts even if the bots are closed sourced. Most of the time you can solve fairness with 3rd party oracles
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August 25, 2018, 04:55:11 PM
 #19960

I still prefer one has a choice, knowing they can choose the setting, Turing complete or not
I mean it’s still a good start, can’t deny. Byteballs is many many steps forward in many ways, so I still fully support it
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