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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1161114 times)
meterse
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October 10, 2018, 11:49:44 PM
 #20421

Can you contribute?

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meterse
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October 11, 2018, 05:40:54 AM
 #20422

I see that again and again there are people here who claim that Byteball should be not be listed in Gigabytes in exchanges since this would be harming the price, because investors would perceive the high cost of one Gigabyte very expensive. I have always been against the "tactical" idea of scaling down the official unit of measurement just for the purpose to benefit the price. Tony has always stated that he is not interested in the price but in the distribution of the coin, and I have always agreed on that.

But then, I've also seen Byteball listed in Gigabytes on Coinmarketcap and something has suddenly clicked in my mind.
The fact that Byteball is measured in Gigabytes is not a problem because this is harming its price.

The fact that Byteball is measured in Gigabytes is a problem because it is crucially violating Byteball's mission number one: to achieve mass adoption.

Even though Byteball's monetary base is consisting in billions of bytes, only 650.000 Gigabytes or so are existing now, and max supply will be 1 Million.
Therefore, if you are thinking in terms of Gigabytes, mass adoption is virtually impossible. People will always feel the frustration of not being able to own even one single Gigabyte and they will likely not even take into consideration the currency. Since there are whales who own a lot of Gigabytes, people who will be able to afford one entire Gigabyte will be in the thousands - best case scenario. This is NOT mass adoption.
People will argue that something similar is happening with Bitcoin - most of the people today can afford to own only fractions of a Bitcoin. But this, in fact, is one of the main problems of Bitcoin, people have always to carefully count how many zeroes there are before the quantity of satoshis of their transactions. This is totally absurd and in fact Bitcoin today is used only as a speculative store of value, and NOT as a real currency.
Byteball aimed to be better, but if the total monetary base is consisting in just 1 Million coins the fact is that it has just AMPLIFIED 21 times this problem of Bitcoin, it has not at all solved it. There will be max 21 Million Bitcoins, and Byteball won't ever have more than one Million Gigabytes. If you are thinking in term of Gigabytes, you have just made the problem 21 times worse. And now we are thinking in terms of Gigabytes. When I'm speaking with my friend we are talking about how many Gigabytes we have, not Megabytes or Bytes. This is a mistake.

We have to think at Gigabytes as we are thinking at the Million of dollars.

The few who can afford owning the Gigabytes are the rich elite, just like those who are owning the Million of dollars. Most of the people don't own Million of dollars (or euros), they just own dollars (or euros). Perhaps thousands of Euros/Dollars ("grands"), but not Millions.
And if Byteball will achieve mass adoption most of the people won't own Gigabytes, they will just own Bytes. Or Kilobytes. If you consider bytes to be cents, then you should consider the ideal unity of Byteball being Kilobytes. Not even Megabytes. Megabytes would somehow semantically sound like the "grands" - one thousand dollars or pounds according to the urban dictionary of FIAT money.
Just as you don't buy a packet of cigarettes with 0.00001 Million of Dollars, you shouldn't have to buy it with 0.001 Gigabytes.
This all could seem a trivial problem to many, but it is not. Reality is a state of mind and perception is playing a fundamental role in the shaping of reality.
To use Gigabytes to measure Byteball generates a cognitive dissonance with the mission of achieving mass adoption. It makes feel Byteball to be an elitarian coin/platform, not a popular one. The exchanges, and more than that Coinmarketcap, are the places where the measurment unit of Byteball is officialized. If exchanges and Coinmarketcap will tell Gigabytes, people will think in Gigabytes, and this makes no sense, since in ordinary life you don't think in terms of Million of Dollars/Euros. That would be crazy. And to insist to speak about Byteball in terms of Gigabytes is crazy too. It basically makes bo sense.

As I've said, I'm not interested in the price of Byteball. In a healthy environment the price is just a natural consequence. But I am interested in seeing one little problem corrected, which alone is able to jeopardize Byteball's entire mission, since it's in complete dissonance with the "philosophy" of Byteball.

Just my two cents (or Bytes)

I absolutely agree, thanks for taking the time to write this
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October 11, 2018, 08:59:00 AM
 #20423

and ty for bringing this on the table again. i hope that tony will think about it again.

The PRIVATE KEY in my sig has been found. Rent a !
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October 11, 2018, 10:21:33 AM
 #20424

We crave to our lord to make a change required by almost all comunity!

Byteball, what a project!

Let there be light!
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October 11, 2018, 11:15:23 AM
 #20425

Bittrex delisting is coming guys, last chance to sell shit Cry
upd. Buy wall collapsed. Sorry i tried to warn you. Hope you guys managed to pull your bitcoins out of this shit.
JanpriX
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October 11, 2018, 11:31:10 AM
 #20426

Bittrex delisting is coming guys, last chance to sell shit Cry
Am I missing something here or are you just spreading FUD to scoop up some cheap BYTEBALL? Just checked the link for Bittrex's coin removal[1] and haven't seen any shadow of BYTEBALL being listed there. If you are indeed telling the truth, would you mind to sharing the information to us and provide the link where you get that?

[1]
https://support.bittrex.com/hc/en-us/sections/200560334-Coin-Removals
barborrico
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October 11, 2018, 12:33:39 PM
 #20427

Serious investor:
Mmmm this byteball platform seems serious and undervalued...

I am going to suscribe to newsletter...

Binaryballs, not working...

$0.25/MB at the time of writing, now $0.05/MB...

Mmmm better stay away from this thing.



Get ready to see 5-6 mbtc/GB and probably lower

Let there be light!
ByteFan
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October 11, 2018, 01:06:35 PM
 #20428

Serious investor:
Mmmm this byteball platform seems serious and undervalued...

I am going to suscribe to newsletter...

Binaryballs, not working...

$0.25/MB at the time of writing, now $0.05/MB...

Mmmm better stay away from this thing.

Get ready to see 5-6 mbtc/GB and probably lower

Hummm... you can not say that Binaryballs is the cause of such flat EEG. Binaryballs was discontinued due to EU regulation. The  pathology is intrinsically linked to the patient itself.

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)
DarkKnightNeverDie
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October 11, 2018, 03:21:04 PM
 #20429

Am I missing something here or are you just spreading FUD to scoop up some cheap BYTEBALL?
In fact, Byteball has been very very cheap so far.
I don't think that Byteball will fall deeper than its current price.

Thul
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October 11, 2018, 05:01:05 PM
 #20430

Byteball Bytes Price Prediction

" If you are looking for virtual currencies with good return, GBYTE can be a bad, high-risk 1-year investment option. Byteball Bytes price equal to 42.580 USD at 2018-10-11, but your current investment may be devalued in the future. "

https://walletinvestor.com/forecast/byteball-bytes-prediction

Byteball is a currency for gamblers and players. Exactly this impression he also conveys name.

Should the general public finally take this currency seriously, first of all a change of name would be necessary. But the management shows itself very little insightful and unwilling in this direction.
And that is not the only point...
meterse
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October 12, 2018, 01:37:44 AM
 #20431

An issue with PoW is that some miners are greedy. They want to earn high transaction fees, but users want low fees. There is an inherent conflict of interest between users and miners. Byteball has fair fees. You pay 1 byte in fees to add 1 byte to the DAG. Simple.

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October 12, 2018, 07:06:38 AM
 #20432

An issue with PoW is that some miners are greedy. They want to earn high transaction fees, but users want low fees. There is an inherent conflict of interest between users and miners. Byteball has fair fees. You pay 1 byte in fees to add 1 byte to the DAG. Simple.

limited bandwidth problem.
If bitcoin blocks are full, users with the highest fees get place in the blocks.
If byterbal bandwidth full (15 tps). Byteball network has a negative feedback loop for higher values than 15 tps. Such negative feedback is quickly non linear and becomes >1 at higher rates than 17 tps (in others words after 17 tps any attempt to push 1 more post per second to the network has a larger negative impact over the whole network which slow downs more than 1 tps). The Byteball networks response adjusted itself to the requested tps up to 15 tps then the network started becoming congested under a non linear curve scheme for higher tps request. At 15 tps requested, the response is 14.74 tps. At 16 tps the response is 14.32 tps. At 17 tps requested the response is 12.97 tps. At 18 tps the response is 10.04 tps.
@meterse Stop spreading misinformation. Byterbal does not solve the problem, it moves it to another corner. Any sane person understands that it is better to have the ability to send money for a higher fee than not having such an opportunity at all.
Thul
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October 12, 2018, 07:26:18 AM
 #20433

... But complaining doesnt help
No, of course not, as long as the management doesn't give a damn about the user's comments.

As long as the thing is called "Byteball", every effort to advance this project is a waste of time and energy.

So if we find a more suitable name, we solve the next problem, but together.
meterse
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October 12, 2018, 08:17:03 AM
 #20434

Byteball Bytes Price Prediction

" If you are looking for virtual currencies with good return, GBYTE can be a bad, high-risk 1-year investment option. Byteball Bytes price equal to 42.580 USD at 2018-10-11, but your current investment may be devalued in the future. "

https://walletinvestor.com/forecast/byteball-bytes-prediction

Byteball is a currency for gamblers and players. Exactly this impression he also conveys name.

Should the general public finally take this currency seriously, first of all a change of name would be necessary. But the management shows itself very little insightful and unwilling in this direction.
And that is not the only point...

its not for gamblers, gambling is just a current use case
meterse
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October 12, 2018, 08:19:10 AM
 #20435

Bittrex delisting is coming guys, last chance to sell shit Cry
Am I missing something here or are you just spreading FUD to scoop up some cheap BYTEBALL? Just checked the link for Bittrex's coin removal[1] and haven't seen any shadow of BYTEBALL being listed there. If you are indeed telling the truth, would you mind to sharing the information to us and provide the link where you get that?

[1]
https://support.bittrex.com/hc/en-us/sections/200560334-Coin-Removals

you are missing nothing, just poor attempts at FUD
joe1823
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October 12, 2018, 08:30:42 AM
 #20436

It's just impossible to download a full node, same problem as Ethereum.

On chain scaling has been proved to be impossible. ^

This shows why we need small blocks and a second layer for scaling.
Thul
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October 12, 2018, 08:47:21 AM
 #20437

Byteball Bytes Price Prediction

" If you are looking for virtual currencies with good return, GBYTE can be a bad, high-risk 1-year investment option. Byteball Bytes price equal to 42.580 USD at 2018-10-11, but your current investment may be devalued in the future. "

https://walletinvestor.com/forecast/byteball-bytes-prediction

Byteball is a currency for gamblers and players. Exactly this impression he also conveys name.

Should the general public finally take this currency seriously, first of all a change of name would be necessary. But the management shows itself very little insightful and unwilling in this direction.
And that is not the only point...

its not for gamblers, gambling is just a current use case

The name (Byteball) suggests something completely different. And this is precisely the point of criticism: The naming

But this argumentation again shows clearly how unwilling one is to encounter public criticism.
meterse
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October 12, 2018, 11:47:09 AM
 #20438

Byteball Bytes Price Prediction

" If you are looking for virtual currencies with good return, GBYTE can be a bad, high-risk 1-year investment option. Byteball Bytes price equal to 42.580 USD at 2018-10-11, but your current investment may be devalued in the future. "

https://walletinvestor.com/forecast/byteball-bytes-prediction

Byteball is a currency for gamblers and players. Exactly this impression he also conveys name.

Should the general public finally take this currency seriously, first of all a change of name would be necessary. But the management shows itself very little insightful and unwilling in this direction.
And that is not the only point...

its not for gamblers, gambling is just a current use case

The name (Byteball) suggests something completely different. And this is precisely the point of criticism: The naming

But this argumentation again shows clearly how unwilling one is to encounter public criticism.

more FUD from newbie accounts on bitcointalk
meterse
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October 12, 2018, 11:48:32 AM
 #20439

It's just impossible to download a full node, same problem as Ethereum.

On chain scaling has been proved to be impossible. ^

This shows why we need small blocks and a second layer for scaling.

unlike ethereum byteball has no blocks
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October 12, 2018, 11:48:58 AM
Merited by LoyceV (2), kaicrypzen (1)
 #20440

As a BYTEBALL user and investor of the first hour I would like to thank you for the very good work of the team and especially Tony. I continue to stick to this project and see great potential in it.

The mobile wallet is great and intuitive, the same goes for the desktop wallet. I would recommend anyone to try the wallets and chatbots.
However, I would like to attach a few constructive criticisms and suggestions for improvement:
   

a) Bot Store: The amount of new chatbots makes this area more and more confusing. Best Case would be a UI like the Apple App Store with overviews, recommendations, different categories and with detailed descriptions. The chatbots urgently need a better detail page.

b) The Unit Byte: I know, this is a much discussed topic and actually the unit is good. In reality, the representation of bytes and the jump between bytes, MB and GB is often confusing. For example, it took me two tries to transfer the correct amount from my desktop wallet (unit there: GB) to my mobile wallet (unit there: MB), although I'm actually very familiar with bytes, megabytes, and so on. So I used a wrong value in GB and sent me 0.1 MB, although I wanted to send 100 MB. I was just too lazy to switch my desktop wallet to MB.
Furthermore, the block explorer with bytes as a unit is not usable by the human eye. There are just too big numbers to capture them at a glance. Generally I would recommend to relaunch the block explorer. The Explorer is very confusing.
My recommendation would be to install a simple switch anywhere in the UI or to take MB as the default, at least for the block explorer.

c) Website / Communication: Honestly, the website seems to me "too cheap". Sorry for the harsh words. The website / communication (+ YT, Twitter, etc.) is not worthy of a multi-million dollar project. The website looks like a $ 25 WordPress theme. This always strikes me when the buttons "Subscribe to Newsletter" and "Download Wallet" appear. This looks like a "purchased standard theme"! A simple website was good at the beginning and underlined the "it just works" principle. But this has to evolve. The website and the whole communication concept should promote real professionals, not just a single graphic designer or individual consultant. Take a real communication leader and put everything to the test. I mean, for example an agency like the one that has created the new corporate logo and developed the new livery of the aircraft at Lufthansa. An agency from this league. Byteball also plays in this league. This costs a lot of money, yes, but it is well spent money.
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