Obyte: Totally new consensus algorithm + private untraceable payments

[fuk]

because it's not a same product as PayPal

what Obyte can offer to a legal merchant, that can't offer PayPal (visa, alipay, eth/dai and so on)?

That's kind of odd question from somebody who is into cryptocurrencies. Kind of tired explaining all the problems that fiat has over cryptocurrencies. You should already know these answers.

Have you ever seen obyte.org?
* ICO/STO Platform (cheaper and easier than on Ethereum)
* Developer friendly (friendlier that PayPal or Braintree or any other fiat/credit card processor)
* Risk-free conditional smart payments (doesn't even need oracle if used for Obyte assets)
* P2P insurance (either by finding a counterpart from public channels or flight insurance bot, could be used for other insurance too)
* Prediction markets (currently only possible by finding a counterpart from public channels and then offering contract via chat)
* P2P betting (either by finding a counterpart from public channels or via sports betting bot or BB Odds website
* Textcoins (actually what sending funds to email means, PayPal just uses email as account number, even better than PayPal when used with email attestation or username attestation)
* Sovereign identity (most coins only dream about it in their whitepapers, Obyte have it already for over the year)
* P2P payments in chat (like Venmo or WeChat)
* Chatbots (don't know any Chatbot platform that also has payments included, maybe WeChat and probably Facebook soon)
* Blackbytes (great for privacy, if used the right way)
* Cashback for merchants

You listed the functions, but the question was not about that. As a merchant you don't need ico, smart payments, insuranse, betting and other. You need only add payment button on your site and spend money from sales. That's all. Why Obyte button is better than Visa or ETH button? Why as a merchant i will prefer Obyte over ETH?
There is only one reason - the size of the community aka spenders. If i see that my customers want Obyte, i will add Obyte. There is no difference will on the button logo btc, eth or visa. Merchants want to sell their goods and they don't get a fuck about textcoins.

[tarmo888]

You listed the functions, but the question was not about that. As a merchant you don't need ico, smart payments, insuranse, betting and other. You need only add payment button on your site and spend money from sales. That's all. Why Obyte button is better than Visa or ETH button? Why as a merchant i will prefer Obyte over ETH?
There is only one reason - the size of the community aka spenders. If i see that my customers want Obyte, i will add Obyte. There is no difference will on the button logo btc, eth or visa. Merchants want to sell their goods and they don't get a fuck about textcoins.

Why limit yourself to just payments, even PayPal doesn't do just payments, it can do recurring payments too. If you are interesting in just payments then there are lot more options out there. Even new OpenBanking/PSD2 API for banks is able to do just payments, so all cryptocurrencies that do just payments are quite hard to sell in very near future.

There is no need to be ultra illegal or ultra legal. Both markets are open and it would be great to be accepted on both. But both legal and illegal markets completely ignore Obyte.

The only target group for crypto currencies is the unregulated market. A decentralized solution is urgently needed there. And only on this market there is a serious demand for cryptos, because it only makes sense there.
The masses are not interested in cryptos. It will only deal with cryptos because of the increasingly attractive unregulated markets.

You still living in 2013 when Silk Road was booming. What is increasing is number of people who want to smoke weed, not hard drugs. And weed is becoming more legal in more states. Bitcoin was used back then and there are many-many more options today (including blackbytes), but it is still as private as good as is your opsec in general. So, amount of people who are suddenly able to do it without getting caught is not increasing as fast as you claim. It is still a niche market compared to all the legal options out there and in most cases, if weed becomes legal in most states, all you need is just privacy.

[fuk]

Why limit yourself to just payments

You not limiting yourself, you just use what you need and drop all unnecessary. For most of the merchants only simple payments are necessary. Recurring payments are useful for some business, but as you said even PayPal provide it.

[Thul]

Why limit yourself to just payments

You not limiting yourself, you just use what you need and drop all unnecessary. For most of the merchants only simple payments are necessary. Recurring payments are useful for some business, but as you said even PayPal provide it.

The regime lives in its own echo chamber and filter bubble.

The fact that the unregulated niche market doubles every year until it is soon no longer a niche market and that there are now also quite normal things of daily needs offered is simply filtered away.
It cannot be what must not be. So simple is the world in the 0Byte universe.

[Ribak1992]

because it's not a same product as PayPal

what Obyte can offer to a legal merchant, that can't offer PayPal (visa, alipay, eth/dai and so on)?

That's kind of odd question from somebody who is into cryptocurrencies. Kind of tired explaining all the problems that fiat has over cryptocurrencies. You should already know these answers.

Have you ever seen obyte.org?
* ICO/STO Platform (cheaper and easier than on Ethereum)
* Developer friendly (friendlier that PayPal or Braintree or any other fiat/credit card processor)
* Risk-free conditional smart payments (doesn't even need oracle if used for Obyte assets)
* P2P insurance (either by finding a counterpart from public channels or flight insurance bot, could be used for other insurance too)
* Prediction markets (currently only possible by finding a counterpart from public channels and then offering contract via chat)
* P2P betting (either by finding a counterpart from public channels or via sports betting bot or BB Odds website
* Textcoins (actually what sending funds to email means, PayPal just uses email as account number, even better than PayPal when used with email attestation or username attestation)
* Sovereign identity (most coins only dream about it in their whitepapers, Obyte have it already for over the year)
* P2P payments in chat (like Venmo or WeChat)
* Chatbots (don't know any Chatbot platform that also has payments included, maybe WeChat and probably Facebook soon)
* Blackbytes (great for privacy, if used the right way)
* Cashback for merchants

everything is right and you are right about that. in this project there is everything but without full implementation. and you always have to focus on something. need privacy? there is a monero or a new hyip called grin or beam. looking for smart contracts there is a tron and eth. for value guys bitcoin is better than nothing, and for payterminals there is a npsx.

[tarmo888]

That's kind of odd question from somebody who is into cryptocurrencies. Kind of tired explaining all the problems that fiat has over cryptocurrencies. You should already know these answers.

Have you ever seen obyte.org?
* ICO/STO Platform (cheaper and easier than on Ethereum)
* Developer friendly (friendlier that PayPal or Braintree or any other fiat/credit card processor)
* Risk-free conditional smart payments (doesn't even need oracle if used for Obyte assets)
* P2P insurance (either by finding a counterpart from public channels or flight insurance bot, could be used for other insurance too)
* Prediction markets (currently only possible by finding a counterpart from public channels and then offering contract via chat)
* P2P betting (either by finding a counterpart from public channels or via sports betting bot or BB Odds website
* Textcoins (actually what sending funds to email means, PayPal just uses email as account number, even better than PayPal when used with email attestation or username attestation)
* Sovereign identity (most coins only dream about it in their whitepapers, Obyte have it already for over the year)
* P2P payments in chat (like Venmo or WeChat)
* Chatbots (don't know any Chatbot platform that also has payments included, maybe WeChat and probably Facebook soon)
* Blackbytes (great for privacy, if used the right way)
* Cashback for merchants

everything is right and you are right about that. in this project there is everything but without full implementation. and you always have to focus on something. need privacy? there is a monero or a new hyip called grin or beam. looking for smart contracts there is a tron and eth. for value guys bitcoin is better than nothing, and for payterminals there is a npsx.

Without full implementation? what do you mean? Obyte is like a toolbox, so you complain that toolbox is not a house?

Can you airdrop your coins to Bitcoin or Ethereum users and know how much it will cost to you? No, fees are not predictable.
Can you do KYC on Ethereum or you have to pay a lot of money to KYC provider, so user would need to scan their documents again and again, even if they have already done it with same KYC provider.
Can you launch your own token on Ethereum or you need to hire a developer to do that for you?
Can you do P2P betting/insurance/predictions on Ethereum without developer? No, you raise millions and build something stupid like Augur just to do something basic that could be already have been built into the platform.

ICO/STO platform is also a tool, if you want to use that to build your house, you can use it. And can do it cheaper because you don't have to pay for KYC provider because Obyte has it built-in.
Conditional payments, smart-contracts and oracles are also tools. full implementation is the flight insurance bot and sports betting bot that use these tools to build a product.
Textcoins is also just a tool, so anybody can use it as a paper voucher in their product. There is also smart-vouchers, which other people can also use as digital vouchers.

And that makes it a full implementation, a box of tools that you can build your stuff on. And there will be more tools added into the toolbox, it is your business decision to buy one toolbox or build these tools yourself one by one.

[Thul]

0Byte to compare with other shitcoins fits.

Fact: You don't have any users except a few nerds (and you won't get any).

First create a benefit and then implement the gimmicks.
That would have been the right way.

[Ribak1992]

That's kind of odd question from somebody who is into cryptocurrencies. Kind of tired explaining all the problems that fiat has over cryptocurrencies. You should already know these answers.

Have you ever seen obyte.org?
* ICO/STO Platform (cheaper and easier than on Ethereum)
* Developer friendly (friendlier that PayPal or Braintree or any other fiat/credit card processor)
* Risk-free conditional smart payments (doesn't even need oracle if used for Obyte assets)
* P2P insurance (either by finding a counterpart from public channels or flight insurance bot, could be used for other insurance too)
* Prediction markets (currently only possible by finding a counterpart from public channels and then offering contract via chat)
* P2P betting (either by finding a counterpart from public channels or via sports betting bot or BB Odds website
* Textcoins (actually what sending funds to email means, PayPal just uses email as account number, even better than PayPal when used with email attestation or username attestation)
* Sovereign identity (most coins only dream about it in their whitepapers, Obyte have it already for over the year)
* P2P payments in chat (like Venmo or WeChat)
* Chatbots (don't know any Chatbot platform that also has payments included, maybe WeChat and probably Facebook soon)
* Blackbytes (great for privacy, if used the right way)
* Cashback for merchants

everything is right and you are right about that. in this project there is everything but without full implementation. and you always have to focus on something. need privacy? there is a monero or a new hyip called grin or beam. looking for smart contracts there is a tron and eth. for value guys bitcoin is better than nothing, and for payterminals there is a npsx.

Without full implementation? what do you mean? Obyte is like a toolbox, so you complain that toolbox is not a house?

Can you airdrop your coins to Bitcoin or Ethereum users and know how much it will cost to you? No, fees are not predictable.
Can you do KYC on Ethereum or you have to pay a lot of money to KYC provider, so user would need to scan their documents again and again, even if they have already done it with same KYC provider.
Can you launch your own token on Ethereum or you need to hire a developer to do that for you?
Can you do P2P betting/insurance/predictions on Ethereum without developer? No, you raise millions and build something stupid like Augur just to do something basic that could be already have been built into the platform.

ICO/STO platform is also a tool, if you want to use that to build your house, you can use it. And can do it cheaper because you don't have to pay for KYC provider because Obyte has it built-in.
Conditional payments, smart-contracts and oracles are also tools. full implementation is the flight insurance bot and sports betting bot that use these tools to build a product.
Textcoins is also just a tool, so anybody can use it as a paper voucher in their product. There is also smart-vouchers, which other people can also use as digital vouchers.

And that makes it a full implementation, a box of tools that you can build your stuff on. And there will be more tools added into the toolbox, it is your business decision to buy one toolbox or build these tools yourself one by one.

it will be necessary to understand more on your system. and your answer puts things in its place. as they say now, im now realized that im didnt understand anything. thanks for the answer.

[fuk]

What is the max size of the single transaction you can create in Obyte? How long will it take to process a 100 Gb weight transaction? Will such a transaction be able to disable the nodes?

[tarmo888]

it will be necessary to understand more on your system. and your answer puts things in its place. as they say now, im now realized that im didnt understand anything. thanks for the answer.

You don't understand what is a meaning of toolbox? Did you try Google it? Obyte features are the tools, Obyte product is the toolbox with the tools. That's the full implementation.

Are you saying that it is easier to develop all these features with Solidity, instead of just using those features that are built into Obyte? What needs more understanding of the platform, using some features or building the whole KYC integration from scratch?
Obyte uses lot of same libraries (SHA256,RIPEMD160,BIP32,BIP39) as Bitcoin and Ethereum, but instead of some complicated programming language, it's using Node.js environment. Most of the client libraries for Ethereum are with Node.js anyways.
So, how exactly would be Obyte learning curve steeper than anything else? If you know the basics of Bitcoin or Ethereum, you will feel comfortable with Obyte, just the data structure and consensus are different.

[tarmo888]

What is the max size of the single transaction you can create in Obyte? How long will it take to process a 100 Gb weight transaction? Will such a transaction be able to disable the nodes?

I don't know all the limits, there are different limits depending on message type (posting a poll has stricter limits than posting text), but 100 GB is probably not possible because SQLite would not even able to insert that amount of data at once (max that SQLite query can handle is little over 1GB).
It will not disable the nodes, it will probably make the network slower as there is more data to sync.
Most of the bottlenecks are not network related bandwidth limits, but validating the units instead, which are because of un-optimized SQL queries.

[Thul]

Note: If you do not understand the meaning of 0Byte, then it is your own fault, not 0Byte. 

[fuk]

Real world adoption (how it looks ) https://medium.com/fluidity/factor-805-introducing-dai-into-security-tokens-a02a98f69cd9

ABOUT FACTOR-805
A new, near-completion 37-unit residential condominium building with retail space at 805 Washington Avenue in Brooklyn, NY, situated two blocks from the Brooklyn Botanic Garden
Investors have the option to purchase and receive payment in Dai or fiat, and to switch between the two
Current 12.49% (LIBOR + 10.00%) coupon producing 13.24% yield to expected maturity, payable monthly
Experienced repeat borrower with demonstrated experience in successfully building and selling out residential condominium projects in Brooklyn and Harlem
13 month maturity with the expectation that the first six month extension option will be exercised by the borrower
High demand and rapidly developing neighborhood attributable to its central location, convenient public transportation access, and moderate unit sale prices compared to more developed neighborhoods like Williamsburg and Park Slope

imo MKR will be the best performer for the next years

[jhenfelipe]

Note: If you do not understand the meaning of 0Byte, then it is your own fault, not 0Byte.  

Just a note too, it's Obyte not 0byte. Different, right? You should know the correct name first

[adaseb]

Been a while since I've actually used Byteball. Just wondering if there are any use or markets yet for Blackbytes.

I remember there used to be a service which traded Blackbytes for regular GBytes at a 2% ratio or so. Wondering if that still exists.

I think I tried sending Blackbytes in the past but got some error, for some reason they can't be sent like regular Bytes and need to be sent a special way. Is there some tutorial which discusses on how to send these Blackbytes?

[tarmo888]

Been a while since I've actually used Byteball. Just wondering if there are any use or markets yet for Blackbytes.

I remember there used to be a service which traded Blackbytes for regular GBytes at a 2% ratio or so. Wondering if that still exists.

I think I tried sending Blackbytes in the past but got some error, for some reason they can't be sent like regular Bytes and need to be sent a special way. Is there some tutorial which discusses on how to send these Blackbytes?

Not sure what you mean by markets, but if you mean centralized exchanges like Coinbase, Bittrex or Binance then thank god there is none. Blackbytes should always be sent P2P without middleman, otherwise one entity could start tracking who sent coins to who when the same coins end up back to that entity. Blackbytes are not great for speculative trading because their history grows as it changes hands. Blackbytes should be used for privacy, not for speculative trading. Read more Tony's original idea before it was launched https://bitcointalk.org/index.php?topic=1574508.0

Blackbytes had BEEB bot and Freebe bot exchanges for quite some time, BEEB is closed now, but Freebe was recently bought by Marc de Mesel and is still alive https://www.reddit.com/r/CryptoCurrency/comments/adi3mh/whale_buys_anonymous_blackbytes_byteball_exchange/

Blackbytes are not sent from wallet address to wallet address, they are sent from device to device and that was possible to do only via Obyte chat by pairing 2 devices, but since June 23th 2018, Blackbytes can also be sent on any other messaging platform (just make sure it's end-to-end encrypted) as textcoins https://medium.com/obyte/private-textcoins-6a2288d80757

[Ample_Fire]

Been a while since I've actually used Byteball. Just wondering if there are any use or markets yet for Blackbytes.

I remember there used to be a service which traded Blackbytes for regular GBytes at a 2% ratio or so. Wondering if that still exists.

I think I tried sending Blackbytes in the past but got some error, for some reason they can't be sent like regular Bytes and need to be sent a special way. Is there some tutorial which discusses on how to send these Blackbytes?

Not sure what you mean by markets, but if you mean centralized exchanges like Coinbase, Bittrex or Binance then thank god there is none. Blackbytes should always be sent P2P without middleman, otherwise one entity could start tracking who sent coins to who when the same coins end up back to that entity. Blackbytes are not great for speculative trading because their history grows as it changes hands. Blackbytes should be used for privacy, not for speculative trading. Read more Tony's original idea before it was launched https://bitcointalk.org/index.php?topic=1574508.0

Blackbytes had BEEB bot and Freebe bot exchanges for quite some time, BEEB is closed now, but Freebe was recently bought by Marc de Mesel and is still alive https://www.reddit.com/r/CryptoCurrency/comments/adi3mh/whale_buys_anonymous_blackbytes_byteball_exchange/

Blackbytes are not sent from wallet address to wallet address, they are sent from device to device and that was possible to do only via Obyte chat by pairing 2 devices, but since June 23th 2018, Blackbytes can also be sent on any other messaging platform (just make sure it's end-to-end encrypted) as textcoins https://medium.com/obyte/private-textcoins-6a2288d80757

Quick one here. Obyte community no longer uses this thread, just Slack and Reddit https://www.reddit.com/r/obyte

[tonych]

There is a proposal about extending the Obyte protocol with timestamps
https://docs.google.com/document/d/1L5i0NNL2h7tgf-ZXo18ozHABSlciQUAE5x0ynV7FzyQ/edit

Your opinion is appreciated.

[tonych]

because it's not a same product as PayPal

what Obyte can offer to a legal merchant, that can't offer PayPal (visa, alipay, eth/dai and so on)?

You can view this video to get an idea how Obyte is superior to just plain payments

https://www.youtube.com/watch?v=DhNyD8Cj0dg

[tbct_mt2]

You can view this video to get an idea how Obyte is superior to just plain payments

https://www.youtube.com/watch?v=DhNyD8Cj0dg

The transaction speeds of Obyte is too fast, and transaction done smoothly without congested or delayed.
Furtheremore, the OByte can be use to bet directly.
It is very convenient altcoin.