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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1218344 times)
tarmo888
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March 07, 2019, 01:01:52 PM
 #21561


I'm sorry that you're fat and didn't buy bitcoin when it was cheap, but taking your bile onto others is just amplifying your already poor condition. Now you're fat, poor and don't have any friends either. How is this any  better? As a good old Estonian, always hating on his successful neighbor, right?

As for measuring and comparing dicks ( git PRs ), I've long outgrown from that phase. You will see what I've been working on when it's done.


You are all talk and no actions, maybe if you would spend less time pumping iron in gym and actually write code then you wouldn't have so shitty contribution history on Github. You are hating because you made wrong choice trying to figure out, which is real Bitcoin and now you are sad to see the reality. You forgot that you can be technically correct, but markets don't care how many university degrees you have.
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friet
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March 07, 2019, 01:02:06 PM
 #21562

Why the fee is fixed?
Currently it is so low so that it is not attractive to be witness.

If obyte price increases enough it will be so high so that it will not be attractive to transfer value. If that happens there will be very little time if any to find a solution to that.

What solution do you have to this drawback?
Why you cannot have normal fee % of transaction that would be attractive to witnesses and users instead tou have fee that is attractive to both only in certain price value?
tyz
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March 07, 2019, 01:12:36 PM
 #21563

If obyte price increases enough it will be so high so that it will not be attractive to transfer value.

Please explain why a high value should speak against a transfer? If so, then at the end of 2017 only a few coins would have had to be traded. The opposite was the case. Trading and transfer volumes were higher than ever. For all crypto currencies, also for Byteball aka Obyte.

tarmo888
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March 07, 2019, 01:17:36 PM
 #21564

Why the fee is fixed?
Currently it is so low so that it is not attractive to be witness.

If obyte price increases enough it will be so high so that it will not be attractive to transfer value. If that happens there will be very little time if any to find a solution to that.

What solution do you have to this drawback?
Why you cannot have normal fee % of transaction that would be attractive to witnesses and users instead to have fee that is attractive to both only in certain price value?

The fee is based on the size of it takes to store this transaction, which makes it predictable. The calculation how much bytes would you need for 1000 transactions is always between 500kb-600kb.
In the future, the value of bytes will based on how much anybody values making transactions on Obyte, so it will have intrinsic value, not just speculative value.

Fees should not be the motivation to become a witness. If the price of GBYTE increases enough that it would be too high to transfer value then it's a good news because we have found it's real value and it will come down to price where people want to use it again. Currently it's $0.00002 and the price would need to increase 1000x to even become 2 cents. If that happens, there is no need for any solution, market will solve itself.
diyhockey
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March 07, 2019, 01:26:44 PM
Last edit: March 07, 2019, 01:52:32 PM by diyhockey
 #21565

Why the fee is fixed?
Currently it is so low so that it is not attractive to be witness.

If obyte price increases enough it will be so high so that it will not be attractive to transfer value. If that happens there will be very little time if any to find a solution to that.

What solution do you have to this drawback?
Why you cannot have normal fee % of transaction that would be attractive to witnesses and users instead tou have fee that is attractive to both only in certain price value?
if the fees are too high then the developers will lower it by changing the code. Now you pay 1 byte for 1 byte of data, 1:1.  Nothing prevents to make this ratio 0.3:1 or whatever.
Although I might be wrong about the complexity. It is literally the same as 1mb blocks in Bitcoin. This is a completely random number, which can be either higher or lower (there was a several soft caps before we reached 1mb). It would seem to make sense to raise this limit as the blocks are filled, but .... we have what we have. Idiots seized power. Although many of them are certainly not idiots but parties with conflicting interest. The same can happen with Byteball. Witnesses will become greedy and will not want to reduce their income by changing ratio. Fanatics will tell you about Tony vision lol
friet
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March 07, 2019, 01:37:02 PM
 #21566

Guys,
It does not add up.
If developers have so much power so that they can change protocol then it is shitcoin.

Keeping it fixed does not add up also.
At what level of price 'people will want to use it again' ?
Can you tell?
diyhockey
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March 07, 2019, 01:59:59 PM
 #21567

Guys,
It does not add up.
If developers have so much power so that they can change protocol then it is shitcoin.

Keeping it fixed does not add up also.
At what level of price 'people will want to use it again' ?
Can you tell?
Changes may or may not be accepted. Developers bring it to you and you (you all) decide what you want. There is no reason to refuse the changes bearing the benefit. But what is good for you is harm to people earning a fee or providing third-party solutions to a problem. And vote of these people have more power than your.
btw shitcoin doesn't mean lack of changes. Is mean coin nobody use. Widely all altcoins except Ethereum
friet
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March 07, 2019, 02:30:30 PM
 #21568

Why not to do such a change now?

Why not to have % fee and give it to witnesses?
This could help obyte to grow.
tarmo888
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March 07, 2019, 02:46:00 PM
 #21569

Guys,
It does not add up.
If developers have so much power so that they can change protocol then it is shitcoin.

Keeping it fixed does not add up also.
At what level of price 'people will want to use it again' ?
Can you tell?

Developers can make the code, full nodes and witnesses decide.

At lower level from the price where it became too expensive. Market will decide, what it's worth.
tarmo888
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March 07, 2019, 02:47:05 PM
 #21570

Why not to do such a change now?

Why not to have % fee and give it to witnesses?
This could help obyte to grow.


How exactly will it help it to grow if not all witnesses are not even replaced yet?
friet
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March 07, 2019, 02:57:53 PM
 #21571

It will help to replace witnesses and decentralize the coin.

Market does not 'decide'. Market does not do any decision.
What fee in $ would you accept? And how do you know it is not lower than market 'decide'
tarmo888
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March 07, 2019, 03:11:41 PM
Last edit: March 07, 2019, 03:26:04 PM by tarmo888
 #21572

It will help to replace witnesses and decentralize the coin.

Market does not 'decide'. Market does not do any decision.
What fee in $ would you accept? And how do you know it is not lower than market 'decide'

Market decides the GBYTE price and since transaction cost is roughly between 500-600 bytes, the cost in any other currency can be calculated. If people don't want to buy GBYTE when it is too high then somebody else will sell it for lower and vice-versa. How else do you think markets work?
friet
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March 07, 2019, 03:29:39 PM
 #21573

What fee could you accept in $?
tarmo888
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March 07, 2019, 03:48:49 PM
 #21574

What fee could you accept in $?

Pretty much any fee that is predictable. For example, if I would be an oracle and need to post something once every 6 minutes to Obyte DAG and every unit would be 1000 bytes big then I could estimate that I need less than 0.1 GBYTE per year and I would not need to worry how many CryptoKitties games or ICOs are launched during that year, my cost would still be 87600000 bytes per year.
friet
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March 07, 2019, 04:04:43 PM
 #21575

Men,
Oh yes...
So let every user of byteball estimate what they want to buy in the next 10 years and let them buy gbytes for the coming 10 years. If this is how it is supposed to be used then I don't think so it is usable. 

You don't consider you just got your salary and want to buy a pen? What fee will you accept?
diyhockey
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March 07, 2019, 04:05:45 PM
 #21576

Why not to do such a change now?

Why not to have % fee and give it to witnesses?
This could help obyte to grow.

because fees are low now
re % fee, I do not understand why people should pay different fees for the same services, depending on their ability to pay, religion, color, etc.
friet
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March 07, 2019, 04:17:50 PM
 #21577

Fee in % cannot be low?
Not getting you about different fees?

But you understand that sometimes something cost 10 gbytes and sometimes 1gbyte? Or that you dont understand also?
diyhockey
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March 07, 2019, 04:20:29 PM
 #21578

Fee in % cannot be low?
Not getting you about different fees?

But you understand that sometimes something cost 10 gbytes and sometimes 1gbyte? Or that you dont understand also?
I thought you about % of amount? Ex 1% of 10 GB tx is 0.1 GB, of 100 GB is 1 Gb. People pay different % for the same service
tarmo888
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March 07, 2019, 04:26:44 PM
 #21579

Men,
Oh yes...
So let every user of byteball estimate what they want to buy in the next 10 years and let them buy gbytes for the coming 10 years. If this is how it is supposed to be used then I don't think so it is usable. 

You don't consider you just got your salary and want to buy a pen? What fee will you accept?

Like I said, if there isn't people who are willing to buy it for that price, somebody will selling it cheaper. Price increases the more valuable Obyte becomes for them and decreases when it becomes less valuable for them. If the fee to make a transaction to buy a pen is too high then clearly Obyte becomes less valuable to use.

But we are talking about fees that require GBYTE prices to be 1000x or 10000x higher, which would mean that Obyte marketcap would need to reach Bitcoin marketcap now. This is not going to happen overnight and you would not going to make purchases of pens on base layer, just like you don't want to make purchases of coffee on Bitcoin base layer. Obyte can have layer-2 solutions too, but it doesn't need them yet because we are not that far yet.
friet
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March 07, 2019, 04:39:47 PM
 #21580

If the fee to make a transaction to buy a pen is too high then clearly Obyte becomes less valuable to use.
Less valuable but enough less valuable to buy pen?

So whats the reason it is not a problem? Is that reason 'market decide' or is that reason 'second layer solution' or is that reason 'it is not gonna happen than gbyte will be worth so much' ?

If 'market decide' is a reason why fixed fee is not a problem why you are talking about solutions? We don't need any solution if what you are saying is correct. What solution you want for?
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