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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1227486 times)
tarmo888
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March 10, 2019, 01:51:00 PM
Last edit: March 10, 2019, 02:11:44 PM by tarmo888
 #21581

What is new in byteball other than its name transform from Gbyte to Obyte ?  You can see its value, its down from last six or more months.
Can you tell me what are the future plans for this coin to grow in value ?

Name changed from Byteball to Obyte, logo is temporary, no full rebranding yet (wallet name will be changed in next version).
The ticker on exchanges stayed GBYTE and hasn't changed. Currency units didn't change either, they are Bytes.
Obviously most coins are down from last 6 or more months, Obyte has gone up last 3 months.

This is what have been done during last 2 years https://press.obyte.org/timeline
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friet
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March 10, 2019, 04:59:01 PM
 #21582

Can you tell me what are the future plans for this coin to grow in value ?

There are no plans for this coin to grow in value.

There are only plans to prevent it from growing.

It could grow in value if witnesses are replaced. Witnesses would be replaced if they could get percentage of every transfer.
But byteball does not look for such witnesses. That prevents the coin from growing.

Another thing that prevents it from growing is that stupid fixed fee.

But these people who are not business oriented cannot understand that byteball with its stupid rules like:
"fee is fixed because it's the same as data size of transaction"
"byteball is not looking for such witnesses"
is less attractive to investors. The competition is very tough and you cannot have such a drawbacks. You cannot win with drawbacks. If real investors do not show up then byteball will run out of money and it's done.

And who is that byteball who does not look for such witnesses?
What kind of witness does byteball look for?
tarmo888
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March 10, 2019, 05:52:38 PM
Last edit: March 10, 2019, 06:16:24 PM by tarmo888
 #21583

It could grow in value if witnesses are replaced. Witnesses would be replaced if they could get percentage of every transfer.
But byteball does not look for such witnesses. That prevents the coin from growing.

Another thing that prevents it from growing is that stupid fixed fee.

It seems you still haven't bothered to read the whitepaper. You don't even understand how things actually work and keep pushing your odd ideas. Witnesses do get a percentages of every transfer, 1/12 of the payload gets to every witness. Regular transfers have 400 bytes header and payload between 150-200 bytes, so every witness gets 12-17 bytes for every transaction. Transactions containing more messages ("payment" is just one type of message) get more fees to witnesses. If witness pick the transaction as parent, they get header commission too.

What you don't realize is that most of the time, witness transactions have had more payload in total that regular users (except in June and July 2018). So, your idea is meaningless because you haven't even figured out how it would actually work. https://stats.obyte.org/heartbeat.php

If you hire somebody who does something only for financial gain then there is more likely they will bail on you if there is no financial gain. Witnessing Obyte transaction should not be about financial gain, every witness should have enough other motivations (like having business that relies on working network) to be a witness. So, exchanges could be good examples of that kind of witnesses, they would not earn much from witnessing, but they could earn lot more from fees helping people to trade it on their exchange.

https://obyte.org/Byteball.pdf Chapter 13:
Quote
Payload commission goes to witnesses.  To incentivize witnesses to post frequently enough, we split payload commission equally among all witnesses who are quick enough to post within 100MC indexes after the paying unit(the faster they post, the faster this unit becomes stable).If all 12 witnesses have posted within this interval, each receives 1/12 of the payload commission.  If only one witness has posted, he receives the entire payload commission.  In the special case that no witness has posted within this interval, they all receive 1/12 of payload commission. If the division produces a fractional number, it is rounded according to mathematical rules.  Because of this rounding, the total commission paid out to witnesses may not be equal to the total payload commission received from the unit’s author(s), so the total money supply will change slightly as well.

Quote
We pay only the headers commission and not the entire commission to those who are quick to pick our unit as parent, for the following reason.  If we did pay the entire commission, we would have incentivized abusive behavior:split one’s data into several chunks and build a long chain of one’s own units storing one chunk per unit. All the commissions paid in a previous unit would then be immediately collected by the same userin the next unit.  As we pay only the headers commission, such behavior is not profitable because to produce each additional element of the chain one has to spend additional headers commission –roughly the same as one earns.
friet
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March 10, 2019, 06:15:45 PM
 #21584

It's very difficult to compete with other currencies. If no investors shows up this project is dead.
You should be bothered about this.
Not about that:
"there is more likely they will bail on you if there is no financial gain"

You create problem: "How to get witnesses? How to convince them they will benefit from byteball?"
You understand that this is one more problem that you create?

Instead of focusing on getting investors and compete with other cryptocurrencies you prefer to focus on solving problems that you create.
tarmo888
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March 10, 2019, 06:20:33 PM
 #21585

It's very difficult to compete with other currencies. If no investors shows up this project is dead.
You should be bothered about this.
Not about that:
"there is more likely they will bail on you if there is no financial gain"

No, exactly the opposite, if over half of the witnesses stop posting at once because it is not profitable anymore then it is dead and needs to be hard-forked to get up again. Read the whitepaper, please. Stop spreading uneducated opinions.
friet
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March 10, 2019, 06:33:38 PM
 #21586

If no investors nothing will help. Even hard fork will not help.

Does your educated opinion say something else?
tarmo888
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March 10, 2019, 06:44:55 PM
Last edit: March 10, 2019, 09:53:05 PM by tarmo888
 #21587

If no investors nothing will help. Even hard fork will not help.

Does your educated opinion say something else?

What investors? There are already too many HODLers on Obyte who doesn't spend, just sit on their bytes. Obyte doesn't need investors right now, it didn't even need an ICO.

Yes, it needs witnesses who will also stay, so you can't bribe them with fees. Witnesses are not investors.

Obyte also needs developers and businesses who build more stuff using Obyte as a platform.
friet
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March 10, 2019, 06:52:02 PM
 #21588

Doesn't your educated opinion say that these:
- witnesses
-"developers and businesses who build more stuff using Obyte as a platform"
are investors ?

Are they hobbists?
tarmo888
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March 10, 2019, 07:00:14 PM
 #21589

Doesn't your educated opinion say that these:
- witnesses
-"developers and businesses who build more stuff using Obyte as a platform"
are investors ?

Are they hobbists?

You have some fiat money in wallet? Are you automatically central bank investor or central bank hobbyist? Or you could also be just an user?
The uneducated opinion part was a reference to you not knowing how fees and witnesses work, but it seems now that you lack of vocabulary too.
friet
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March 10, 2019, 07:17:12 PM
 #21590

They are investors.
They put something into it and expects to get something in return.

But if your educated opinion says something else then okay.
Let's say they are users.

Replace "investors" in my previous post that made you making off-topic with "investors and users".

Does it solve your naming problem?
afbitcoins
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March 10, 2019, 09:26:54 PM
 #21591

If no investors nothing will help. Even hard fork will not help.

Does your educated opinion say something else?

There are already too many HODLers already on Obyte who doesn't spend, just sit on their bytes

Is there a list of places you can spend Obyte ?
tarmo888
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March 10, 2019, 09:42:36 PM
Last edit: March 10, 2019, 09:53:31 PM by tarmo888
 #21592

There are already too many HODLers on Obyte who doesn't spend, just sit on their bytes

Is there a list of places you can spend Obyte ?

Yes, it's in the app, it's called Bot Store.
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March 13, 2019, 01:19:18 AM
 #21593

Question... whatever happened to the TitanCoin token that was hyped as the first ICO on Byteball? I apparently have some tokens... did the project die? Huh

ewibit
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March 13, 2019, 07:34:08 AM
 #21594

Question... whatever happened to the TitanCoin token that was hyped as the first ICO on Byteball? I apparently have some tokens... did the project die? Huh

interested too...
CryptKeeper
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March 13, 2019, 09:10:18 AM
 #21595

Question... whatever happened to the TitanCoin token that was hyped as the first ICO on Byteball? I apparently have some tokens... did the project die? Huh

interested too...


3 weeks ago one of my colleagues talked to the former marketing man:

"...they plan to launch ICO some time this year. They just tried to KYC/AML but no response from coin holders. Just several had done it."

My guess is that they wait for the bull market to kick in before starting their ICO.

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
fuk
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March 13, 2019, 05:11:55 PM
Last edit: March 13, 2019, 05:32:44 PM by fuk
 #21596

Question... whatever happened to the TitanCoin token that was hyped as the first ICO on Byteball? I apparently have some tokens... did the project die? Huh

interested too...


3 weeks ago one of my colleagues talked to the former marketing man:

"...they plan to launch ICO some time this year. They just tried to KYC/AML but no response from coin holders. Just several had done it."

My guess is that they wait for the bull market to kick in before starting their ICO.
One more scam from the same people?

Quote
Yes, it's in the app, it's called Bot Store.
What i can buy in Bot Store? I'm not a gambler and i don't need your insurance. I do not understand why you deny the obvious. Obyt has no use cases. It is not your personal fault. Most altcoins are not destined to reach adoption
tarmo888
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March 13, 2019, 06:10:57 PM
 #21597

Quote
Yes, it's in the app, it's called Bot Store.
What i can buy in Bot Store? I'm not a gambler and i don't need your insurance. I do not understand why you deny the obvious. Obyt has no use cases. It is not your personal fault. Most altcoins are not destined to reach adoption

So, because you are not into sports betting or insurance, it means that Obyte doesn't have any use cases? Cool logic.
Why do you even have bytes if you don't find any use for Obyte?
Do you often go to foreign countries and bitch there also that they don't accept your country currency?
What do you expect? That cryptocurrency with $25m marketcap, which is intended to be used on internet, becomes instantly accepted in a shop near you?

Buy Obyte bytes if you want to:
* do P2P sports betting.
* get P2P flight insurance.
* register your username or email, so people could send you bytes more easily.
* take part of weekly lottery draw where you just need to hold bytes, lottery where nobody loses their funds.
* attest your real name to get additional benefits from other bots.
* post polls and vote on polls.
* take part of other ICOs.
* create your own token.
* post data to DAG or write a script and become an oracle.
* buy private tokens and transact with those.
* buy at shops in Milan.

If you don't need to any of that, sell your bytes to currency that is accepted in places you want to shop. It is that simple.
afbitcoins
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March 13, 2019, 10:46:17 PM
Last edit: March 13, 2019, 10:56:26 PM by afbitcoins
 #21598

I think I'm reaching capitulation point on this project. (Taking big losses on this punt). You don't need investors? Yeh probably not. You never valued them. But good luck, I always liked the tech. Shame it didn't work out for me; Maybe those who stick with it will win in the end
tarmo888
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March 13, 2019, 11:21:22 PM
 #21599

I think I'm reaching capitulation point on this project. (Taking big losses on this punt). You don't need investors? Yeh probably not. You never valued them. But good luck, I always liked the tech. Shame it didn't work out for me; Maybe those who stick with it will win in the end

Tell me this, what good is there from those "investors" who just sit on their bag? Where is the value in that?
There is no investors in crypto-space, just speculators. Investing is something else, investors actually support companies they invest into.
How exactly are you loosing money if the GBYTE/USD price has gone up last 3 months and GBYTE/BTC price is same as 6 months ago.
Which coin has performed better during last 3-6 months? BTC, BCH, ETH, XRP?
diyhockey
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March 14, 2019, 11:17:14 AM
 #21600

I think I'm reaching capitulation point on this project. (Taking big losses on this punt). You don't need investors? Yeh probably not. You never valued them. But good luck, I always liked the tech. Shame it didn't work out for me; Maybe those who stick with it will win in the end

Tell me this, what good is there from those "investors" who just sit on their bag? Where is the value in that?
There is no investors in crypto-space, just speculators. Investing is something else, investors actually support companies they invest into.
How exactly are you loosing money if the GBYTE/USD price has gone up last 3 months and GBYTE/BTC price is same as 6 months ago.
Which coin has performed better during last 3-6 months? BTC, BCH, ETH, XRP?

I think he got into this coin before. In fact, the last 6 months, the price in btc is at the lowest values since the moment of the launch. I think it was around 0.01 only once when Sasha dumped his bytes. And it was literally one hour dump. Then price went back to 0.02 and raised up
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