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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1227686 times)
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November 08, 2019, 08:06:46 AM
 #22041

There is no hard-coded limits how much TPS Obyte network can handle, just SSD and CPU are the limits.
It means when Obyte becomes more common in crypto, and more people use the coin for their transactions beside trading, I think there are minor risks of network congestion. Technically, the quality of hardware partially determine speed of confirmation. I consider it as minor risks because I think nowadays most of people and crypto enthusiasts in particular use devices that are good enough to process required things, on Obyte network, in particular.
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Yeah, OP probably needs to be updated, but the most up-to-date exchanges are on English language page, some other languages are not even rebranded to Obyte. https://obyte.org/#exchanges

Volume is kind of catch-22, without volume, there is little interest and can't get more volume because there is not enough interest. Adding a coin to random exchange won't magically make more volume, unless you pay for wash trading service, which many un-regulated exchanges offer. The more people use available coin swapping services, the more volume there will be on Bittrex because most of them are connected to Bittrex anyways.
Exchanges themselves can not help price and volume increasing but there is a mutual correlation between volume, price and interests from community. Without interest, people will not buy, invest or trade that do affect volume; without volume people will hesitate to buy, trade and invest that in turn will affect back to volume. Volume and interests together will affect price of Obyte.

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November 08, 2019, 11:48:26 AM
 #22042

There is no hard-coded limits how much TPS Obyte network can handle, just SSD and CPU are the limits.
It means when Obyte becomes more common in crypto, and more people use the coin for their transactions beside trading, I think there are minor risks of network congestion. Technically, the quality of hardware partially determine speed of confirmation. I consider it as minor risks because I think nowadays most of people and crypto enthusiasts in particular use devices that are good enough to process required things, on Obyte network, in particular.

No, the quality of the hardware doesn't affect the confirmation speed.
Confirmation speed is linked to how fast the main chain index grows, basically how many serial transactions are made by different wallets.
Quality of hardware doesn't affect the TPS either, type of disk, database, CPU and optimizations of the software code determine that. At the moment, current tech stack is fine because we don't use even 1/30 of the capability. In the future, other implementations using different tech stack can be written for Obyte protocol.
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November 24, 2019, 09:12:54 AM
 #22043

Hi, I'm thinking of passing my cryptocapital on to my grandchildren when the time comes  and wonder whether that possible with any  contract on Obyte platform?

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November 24, 2019, 10:25:30 AM
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 #22044

Hi, I'm thinking of passing my cryptocapital on to my grandchildren when the time comes  and wonder whether that possible with any  contract on Obyte platform?

It is, but the features that enable this kind of thing are currently available only on testnet, so you will need to wait a little bit more with the dying until it gets released to mainnet Tongue
https://medium.com/autonomous-agents-powered-by-obyte/using-aa-for-gbytes-heritage-32a298a49cd8
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November 25, 2019, 08:02:35 AM
 #22045

Hi, I'm thinking of passing my cryptocapital on to my grandchildren when the time comes  and wonder whether that possible with any  contract on Obyte platform?

It is, but the features that enable this kind of thing are currently available only on testnet, so you will need to wait a little bit more with the dying until it gets released to mainnet Tongue
https://medium.com/autonomous-agents-powered-by-obyte/using-aa-for-gbytes-heritage-32a298a49cd8

Thanks, I'm not going to die and asked cuz the topic how to pass cryptocurrency on to heirs is widely discussed by users of Russian board , and now, I can tell them of the available solution designed on Obyte platform.

whole nazca signature space owned by naska21 for rent, feel free to PM me
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November 25, 2019, 10:05:25 PM
 #22046

FYI

Yes, this thread is a scam accusation, but at the start I wasn't able to decide it.
......
But IOTA is a simple scam, I taste it already.
Then do the needful like first changing your Title. I doesn't seem to suggest that IOTA is scam, does it?
Quote
I think, IOTA can be the biggest delusion ever ( not a scam of course Cheesy )...

bitcointalk.org should show, IOTA is a scam, ... We should consider it already.[/b]
Scam is not morderated here so don't expect admin to do anything about it. It's your duty as a member to create a scam accusation with clear evidence and proof that a project is scam is you have been scammed or believe people are likely to be scammed.

Please. I did.

IOTA is scam because IOTA isn't a DLT, but listed, managed as a DLT, since YEARs here, on bitcointalk.org at this time also. Please ADMINs, do what is to do, in  a such situation. We (community of bitcointalk.org) shouldn't scam people with scam projects as IOTA i.e. ...

My acc's: ifinta66 on the twitter *O* ifinta on LinkedIn
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November 26, 2019, 09:59:08 AM
 #22047

FYI

Yes, this thread is a scam accusation, but at the start I wasn't able to decide it.
......
But IOTA is a simple scam, I taste it already.
Then do the needful like first changing your Title. I doesn't seem to suggest that IOTA is scam, does it?
Quote
I think, IOTA can be the biggest delusion ever ( not a scam of course Cheesy )...

bitcointalk.org should show, IOTA is a scam, ... We should consider it already.[/b]
Scam is not morderated here so don't expect admin to do anything about it. It's your duty as a member to create a scam accusation with clear evidence and proof that a project is scam is you have been scammed or believe people are likely to be scammed.

Please. I did.

IOTA is scam because IOTA isn't a DLT, but listed, managed as a DLT, since YEARs here, on bitcointalk.org at this time also. Please ADMINs, do what is to do, in  a such situation. We (community of bitcointalk.org) shouldn't scam people with scam projects as IOTA i.e. ...

How is this related to Obyte? Is this an invitation to call IOTA a scam? In Obyte thread?

IOTA is probably not a scam, but that's pretty much the only good thing to say about it. The words "scam" is so misused by cryptocurrency people. Like the quote above, "delusion" is more accurate word. IOTA is DLT, just not very good one.
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November 26, 2019, 11:35:10 AM
 #22048

Last time I visited this thread was a year ago.
As far as I can see people here are still arguing if Obyte
is scam or not, if management decisions are good or not.

Either a lot of people invested and are now dissatisfied due to price
or there is something wrong with the whole coin.

Whatever it is, Obyte is a popular coin, using different (than most) distribution method
which will bring variety to the whole blockchain experiment. Good luck.

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November 26, 2019, 08:50:30 PM
 #22049

FYI

Yes, this thread is a scam accusation, but at the start I wasn't able to decide it.
......
But IOTA is a simple scam, I taste it already.
Then do the needful like first changing your Title. I doesn't seem to suggest that IOTA is scam, does it?
Quote
I think, IOTA can be the biggest delusion ever ( not a scam of course Cheesy )...

bitcointalk.org should show, IOTA is a scam, ... We should consider it already.[/b]
Scam is not morderated here so don't expect admin to do anything about it. It's your duty as a member to create a scam accusation with clear evidence and proof that a project is scam is you have been scammed or believe people are likely to be scammed.

Please. I did.

IOTA is scam because IOTA isn't a DLT, but listed, managed as a DLT, since YEARs here, on bitcointalk.org at this time also. Please ADMINs, do what is to do, in  a such situation. We (community of bitcointalk.org) shouldn't scam people with scam projects as IOTA i.e. ...

How is this related to Obyte? Is this an invitation to call IOTA a scam? In Obyte thread?

IOTA is probably not a scam, but that's pretty much the only good thing to say about it. The words "scam" is so misused by cryptocurrency people. Like the quote above, "delusion" is more accurate word. IOTA is DLT, just not very good one.

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

My acc's: ifinta66 on the twitter *O* ifinta on LinkedIn
About Charm - a kind of 'No' Money *O* OUR IEO on ODEX Exchange ... *O* About Vortexledger (Planned algo PoSL) *O* A kind of Tangle ... *O* OpenSC4D
My session app id: 054a5ad058fb1a2f0c85c4e354ea7b458f94dca896e8e815501e23298e985d602d
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November 26, 2019, 09:51:18 PM
Last edit: November 27, 2019, 12:57:29 AM by tarmo888
 #22050

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

I agree that the existence of the Coordinator makes it horrible solution, but it's still a DLT.

DLT stands for distributed ledger technology, not decentralized ledger technology.
DAG is just a database structure, a graph of nodes (transactions) that should be linked so they form specific direction and not circle back to previous nodes (transactions).
Same as blockchain is just a database structure called linked list of nodes (blocks), technically it's also graph if you take account all orphaned nodes (blocks). Some say that blockchain needs to be decentralized and PoW too, but the main point that makes blockchain a blockchain is the Byzantine Fault Tolerance, which is also requirement for all DLTs. What makes the DLT a DLT is that the data is distributed and all nodes (databases) come to same conclusion (they add only valid blocks/transaction to the database in same order on all nodes even if they are received in different order). This solves the double-spend problem.
Most mainstream people now call everything a blockchain, while what they actually mean is DLT.

Both blockchain and DAG cryptocurrencies are DLTs. What DLT is not - a single database or multiple replications of a single database, which is operated by same operator.

Obyte was a DLT even when all witnesses were operated by Tony. Now with 2 witnesses replaced, Obyte is even more decentralized than how Libra was suppose to launch (15/100 validators = 15%, 2/12 witnesses = 16%), but main difference is that Obyte witnesses don't vote on valid transactions or double-spends, they just provide transaction ordering with their own transactions.

Cryptocurrency platform where the governance entity can censor transactions is still a DLT, just not very good one (Hedera Hashgraph, EOS). Bitcoin can be censored too if mining pools collude, but even then, it is still DLT. For example, mining pools could agree not to add any Satoshis transactions to new blocks and Satoshi would be fucked because there is no way he could build a mining farm that powerful now to compete with existing mining pools (unless he already controls one). It will still be blockchain and DLT, even if they do censor Satoshi.
https://www.forbes.com/sites/ktorpey/2019/07/28/bitcoin-mining-centralization-is-quite-alarming-but-a-solution-is-in-the-works/#2ee71027530b
https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power
https://bitslog.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
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November 26, 2019, 10:06:56 PM
 #22051

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.
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November 26, 2019, 11:17:18 PM
Last edit: November 26, 2019, 11:47:04 PM by tarmo888
 #22052

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.

You can see all Tony's latest posts there https://bitcointalk.org/index.php?action=profile;u=412662;sa=showPosts

Most work has gone into bringing smart-contracts as powerful as Ethereum to Obyte, they will be called Autonomous Agents and it's available on testnet already.
https://medium.com/obyte/introducing-autonomous-agents-6fe12fb12aa3

There has been improvements how witnesses are displayed on app and stats page, so people can make better decision with new upcoming witnesses.
https://medium.com/@pauljamesmurray/wallet-version-2-8-0-released-d620dc825e07
https://medium.com/@pauljamesmurray/showing-the-world-that-blocks-and-miners-are-not-needed-the-alternative-obyte-witness-model-is-a2fa95f4272
https://medium.com/@pauljamesmurray/new-witness-monitoring-service-autonomous-agents-contest-update-408b7a79281a

Also, still lot of effort goes into explaining what witnesses do, some people still confuse them with gatekeepers like block producers or voters. In order to remove the confusion with Steem Witnesses, alternative name to Witnesses is now Order Providers.
https://medium.com/obyte/from-blockchain-to-dag-getting-rid-of-middlemen-28afa7563545

CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE
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November 27, 2019, 03:34:47 AM
Last edit: November 27, 2019, 03:45:33 AM by ifinta
 #22053

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

I agree that the existence of the Coordinator makes it horrible solution, but it's still a DLT.

Good. I understand. IOTA is a kind of WCLT. (= well centralized ledger technology......) Well.
Me "centralized" won't equal "distributed"...... Sorry.

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.
...
CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE

I suggest, that OByte using #1 DAG algo! Yes, OByte is the first working DAG algo. Simple. Blockchain is popular, but don't better. It is then #1 ranking for OByte. Congratulation to all dev's!

My acc's: ifinta66 on the twitter *O* ifinta on LinkedIn
About Charm - a kind of 'No' Money *O* OUR IEO on ODEX Exchange ... *O* About Vortexledger (Planned algo PoSL) *O* A kind of Tangle ... *O* OpenSC4D
My session app id: 054a5ad058fb1a2f0c85c4e354ea7b458f94dca896e8e815501e23298e985d602d
tarmo888
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November 27, 2019, 12:57:40 PM
Last edit: November 30, 2019, 08:35:32 PM by tarmo888
 #22054

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

I agree that the existence of the Coordinator makes it horrible solution, but it's still a DLT.

Good. I understand. IOTA is a kind of WCLT. (= well centralized ledger technology......) Well.
Me "centralized" won't equal "distributed"...... Sorry.

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.
...
CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE

I suggest, that OByte using #1 DAG algo! Yes, OByte is the first working DAG algo. Simple. Blockchain is popular, but don't better. It is then #1 ranking for OByte. Congratulation to all dev's!

Decentralization is spectrum, not binary value.

Open source enables us to improve Bitcoin and many have inspired by Bitcoin to build alternative solutions, trying to fix the shortcomings that Bitcoin has.

Yet, for over 5 years, Bitcoin has preferred ASIC-miners, which has grown so big problem that you have to do it in pools to even have any chance to win a block reward.

And who controls the manufacturing of ASICs - few companies, which products are hard to get in other ways than from those few, GPUs circuits are manufactured by many. Who could buy a GPU and mine ETH? Anyone who owns less than 1 BTC, just go to computer shop and buy bunch of GPUs.

And who controls, which transactions get picked to next block? Mining pools, but it should be individual miners in pool who decide.

All these improvements have been solved on many altcoins, yet Bitcoin is so centralized that none of that gets merged because it's not in the interest of ASIC manufacturers.

Again, not completely centralized and not decentralized, it's a spectrum of many things.
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December 04, 2019, 02:51:43 AM
 #22055

With the new release of the wallet which is the best way to make the backup of a full node wallet, so that we backup also the blackbytes? Just to do the full backup or to copy the whole directory?

Why wouldn't you do it the same way you've done it in the part?
Same process for all versions.

Full Backup

It makes a file you can use on any platform.

Now, I think you might be asking how to convert a full node to a light wallet in an attempt to retain your bytes/blackbytes in the process?



I'm just asking since I remember discussions in the past where it was suggested to backup the whole byteball directory so as to be sure to secure also the blackbytes. As for converting a full node to a light wallet I guess you could do that by just transferring you assets to a light wallet on another device, am I right? But in fact would then a full backup of a light wallet retain also the blackbytes?
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December 04, 2019, 03:18:10 AM
 #22056

With the new release of the wallet which is the best way to make the backup of a full node wallet, so that we backup also the blackbytes? Just to do the full backup or to copy the whole directory?

Why wouldn't you do it the same way you've done it in the part?
Same process for all versions.

Full Backup

It makes a file you can use on any platform.

Now, I think you might be asking how to convert a full node to a light wallet in an attempt to retain your bytes/blackbytes in the process?



I'm just asking since I remember discussions in the past where it was suggested to backup the whole byteball directory so as to be sure to secure also the blackbytes. As for converting a full node to a light wallet I guess you could do that by just transferring you assets to a light wallet on another device, am I right? But in fact would then a full backup of a light wallet retain also the blackbytes?

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.
Converting a full node to light node is complicated, you could:
* transfer the blackbytes to some other wallet.
* copy the seed words.
* destroy the wallet and start it again to create a light wallet.
* restore the seed words.
* transfer blackbytes back to new wallet.
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December 06, 2019, 06:35:15 PM
 #22057


The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.


I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

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December 06, 2019, 06:45:11 PM
 #22058


The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.


I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.
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December 07, 2019, 07:06:22 AM
 #22059


The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.


I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

I never trust any cloud services when it comes to these kind of things and my wallet is not password protected. Why would I need it if the wallet is on my home computer. Anyway I use multisig 1-of-2 wallet and if even one of two is out off commission  I'm safe.

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December 07, 2019, 06:55:38 PM
 #22060


The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.


I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

I never trust any cloud services when it comes to these kind of things and my wallet is not password protected. Why would I need it if the wallet is on my home computer. Anyway I use multisig 1-of-2 wallet and if even one of two is out off commission  I'm safe.

No trust needed when encrypted with strong passphrase. If the backup is on same machine as the wallet then it's really not a backup, but copy of data folder.
But yeah, 1-of-2 wallet is good option too, but it would still be good to have a backup of that other device somewhere else too.
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