Obyte: Totally new consensus algorithm + private untraceable payments

[tarmo888]

I wouldn't take investing advice from xenon131, he just wants GBYTE/USD price to go down so he could get his 100 OUSD out of the liquidity pool without divergence loss (even though he probably already got rewards from liquidity mining). He also can't read properly, even when you try to correct him for 2 weeks and he can't tell the difference between different type of stablecoins out there. He also thinks that multi-dimensional bonding curve means multi-asset collateral (not sure where he got that nonsense from).

Bollocks, I pulled my OUSD  out of your  fatuous pools a long time ago.  I could tell you even more. I used shortcomings of your  algorithmic stablecoins to make 25% daily profit from arbitrage swapping with the  end in Gbyte.  But you don't have to know all the details because I intended to use this again and again while there are fools who lock their funds in your pools which are real cock-up. I sold almost all my Gbytes on cryptox. A few left for arbitrage. Bye, barmy.

 I guess you are little smarter about DeFi than others, so you are making profit,

I are correct in your guessing.

Oswap.io is no different from Uniswap, both work with same AMM-logic.

I know this and I use it to make profit. Oswap.io is so much easier to do this because I don’t need a lot of money to move the price.

How long as it been now, already a month since you haven't figured out what people call algorithmic stablecoins and what's bonding curves?

By and large they are the same in the essence.  A fancy word can’t hide what’s behind it.

So, why are you still scamming other people by trying to convince them that Bonded Stablecoins are something what they clearly aren't.
Algorithmic stablecoins are those that manipulate the supply in order to get a peg. These are stablecoins with elastic supply with rebases and debases, like AMPL, BASED, YAM, BASIS
https://www.okex.com/academy/en/elastic-supply-stablecoins-explained

Like the OKEx article explains, there are 2 types of stablecoins:
* collateralized
* elastic supply

Collateralized stablecoins can also be divided into 2 groups:
* on-chain collateral (DAI, Bonded Stablecoins)
* off-chain collateral (USDT, USDC, GUSD, BUSD)

If you understand how Uniswap and Oswap.io works, how is it so complicated for you to understand how Bonded Stablecoins work? The name Bonded Stablecoins comes from the term Bonding Curve and just because smart-contract (AA) uses algorithms, doesn't make it immediately an algorithmic stablecoin. That term is already used for stablecoins that have elastic supply.

Bonded Stablecoins works basically the same as Uniswap and Oswap.io - when you provide liquidity to Uniswap or Oswap.io, you get pool tokens. When you provide liquidity (buy GRDV2, SFUSD, IUSDV2) to Bonded Stablecoins, you also get pool tokens, but they are not called pool tokens, they are called by the name, which asset they are pegged to (IUSDV2) or provide arbitrage liquidity for (SFUSD).

Let me explain more detailed, if you still haven't had the Heureka moment by now. If you didn't get it yet, you probably thinking: "How come is it like providing liquidity to Uniswap, if on Uniswap, I have to add 2 tokens at once. Well, Oswap.io has a feature to provide liquidity with only one token too. Let's see what it does:
* we add only OUSD to GBYTE-OUSD pool.
* AA notices that only OUSD is sent, so it swaps half of the OUSD to GBYTE.
* now AA has half in OUSD and half in GBYTE, so it adds 2 tokens to pool
* AA returns you OPT-tokens (Oswap.io pool tokens) based on half the OUSD and swapped GBYTE.

Okay, so now that we have this difference sorted out, what the actual difference between AMM-exchanges like Uniswap/Oswap.io and Bonded Stablecoins.

The main difference is the bonding curve formula that is used. Most AMM-exchanges (except Banchor and Balancer) use the basic formula called “constant product market maker” or  “x * y = k”, which is a bonding curve.


Bonded Stablecoin uses multi-dimensional bonding curve (aka bonding surface), it's not like DAI added more off-chain centralized stablecoins as additional collateral. It just means that the reserve needed and the price of tokens depends on multiple on-chain metrics, so the curve becomes 3D.


In case of Bonded Stablecoins, the formula is r = S1**m * S2**n, which means the amount needed for collateral depends on amount of growth tokens in circulation and amount of interest tokens in circulation. Every time you buy SFUSD or IUSDV2, you add more GBYTE as collateral, which is same as adding liquidity to AMM-exchange and every time you redeem SFUSD or IUSDV2, it's same as removing liquidity with pool tokens and getting GBYTE back.

Maybe educate yourself first before spreading nonsense https://medium.com/balancer-protocol/bonding-surfaces-balancer-protocol-ff6d3d05d577

[tarmo888]

The main difference is the bonding curve formula that is used.

Thanks for nice explanation that proves your bonded tokens ( which are not stable, by and large) fall perfectly into algorithmic category. Changing formula for  algorithm doesn't  make them something special but if you like fancy terms you are free to use "bonded" instead of algorithmic when describing your tokens, I’ll let you do it.

Come back when you learn to read. If you don't believe me that algoritmic stablecoins are something totally different then read what others write, I provided you even the links that explain bonding curves, stablecoins with collateral and stablecoins with elastic supply.

[julian071]

I replied to Elon's tweet about Bitcoin using so much energy, asking if Tesla would be interested in becoming a witness in the Obyte network. Chances are near zero he even reads it, but still better then nothing.

Maybe the "green" aspect of Obyte coud get a little more emphasis in the marketing...

[tarmo888]

I replied to Elon's tweet about Bitcoin using so much energy, asking if Tesla would be interested in becoming a witness in the Obyte network. Chances are near zero he even reads it, but still better then nothing.

Maybe the "green" aspect of Obyte coud get a little more emphasis in the marketing...

I did the same, the more people do it, the higher chance we have to get noticed, by anybody. But I think Elon FUDed Bitcoin for other reasons (maybe nobody bought any Tesla with it).

I don't think Bitcoin goal was to build a currency that would be energy efficient, I think any cryptocurrency will consume more electricity than traditional finance at same scale because the more full nodes there are keeping the copy of the ledger, the more resources are used. So, while PoW coins are clearly more wasteful because of miners, there is even more power consumption based on how distributed they are. And that's reasonable cost for decentralization.

Obyte has no PoW, not even the local one like Nano and IOTA have.

So, the least power consuming cryprocurrencies are in this order (without taking account how many full nodes they have):
1) (d)PoS, DAGs without local PoW and other non-PoW
2) feeless DAGs with local PoW
3) PoW with low hashrate
4) PoW with high hashrate

[tarmo888]

Why Obyte  has removed the option to buy their interest tokens  with Gbyte?  Right now the only available option is BTC. It is also impossible to buy v1 tokens like IUSD and such  which is  not clear to me as the pools filled with them are still in existence. Changing things on the move without warning users is a bad luck for a coin. History with Obyte repeats itself.

You can still buy V1 tokens from trade page.
You can buy with GBYTE from front-page and from trade page.
https://ostable.org/buy page is now external tokens only and all buys go through.

Fork the website and revert it, if you don't like that change.

[julian071]

Do you really want this manipulator to be on board?

No not really, it was just a way to get some attention. You wouldn't want someone onboard who'd talk you up and down depending on his own hidden agenda.

[Fallenkeith75]

Why Obyte  has removed the option to buy their interest tokens  with Gbyte?  Right now the only available option is BTC. It is also impossible to buy v1 tokens like IUSD and such  which is  not clear to me as the pools filled with them are still in existence. Changing things on the move without warning users is a bad luck for a coin. History with Obyte repeats itself.

I replied to Elon's tweet about Bitcoin using so much energy, asking if Tesla would be interested in becoming a witness in the Obyte network. Chances are near zero he even reads it, but still better then nothing.

Maybe the "green" aspect of Obyte coud get a little more emphasis in the marketing...

Do you really want this manipulator to be on board?

lol please never use Elon to manipulate and promote Obyte like he did with Doge. The whole doge thing has been really cancerous, especially on Reddit and Twitter

I really think this is a good project and the merits of the project will speak for itself

[tarmo888]

I replied to Elon's tweet about Bitcoin using so much energy, asking if Tesla would be interested in becoming a witness in the Obyte network. Chances are near zero he even reads it, but still better then nothing.

Maybe the "green" aspect of Obyte coud get a little more emphasis in the marketing...

Do you really want this manipulator to be on board?

lol please never use Elon to manipulate and promote Obyte like he did with Doge. The whole doge thing has been really cancerous, especially on Reddit and Twitter

I really think this is a good project and the merits of the project will speak for itself

It's up to the community and Order Providers (Witnesses) to decide. Anybody can put up their candidacy, community can signal the Order Providers (by changing their OP list) who they want to replace and if they do it coordinated way (that they all replace the same old OP with same new OP) then it's only Order Providers, who have the last say and they have pledged to change their list when better candidate comes around.

I understand that although witnesses don’t get to decide about acceptance or non-acceptance of individual transactions and the sole criterion for their acceptance is their validity according to protocol rules, witnesses still have to make decisions about changing their own witness lists, and I pledge to make changes to my witness list only as I feel is best for the Byteball network, only when I’m confident that the new witness properly understands the role of a witness and is going to follow the same rules while being in some way better than the witness being removed from the list.
I understand that I may lose trust of Byteball community in the future or just better (than me) witness candidates may come along who have, for example, more to lose in case of misbehavior, or are better known or more trusted by the community, and if I feel that it is the case, I pledge to voluntarily remove my address from my witness list and publicly support a better candidate.

[icopress]

I really think this is a good project and the merits of the project will speak for itself

Many people here feel the same way, and although the technical implementation of Obyte is beyond praise, there are those who think that their marketing strategy is dead. In the end, after rethinking the mistakes and realizing that the existing marketing concept does not work there is nothing wrong with rebranding.

There won't be a good exchange, either, until the Obyte team is on the path to fix it ... and I really feel like someone is hiding the setbacks. Btw, since conventional strategies don't work, maybe in this case Obyte team will contact Tether and agree on the launch of USDT on the Obyte Network? ^{[tether/transparency]}

[tarmo888]

I really think this is a good project and the merits of the project will speak for itself

Many people here feel the same way, and although the technical implementation of Obyte is beyond praise, there are those who think that their marketing strategy is dead. In the end, after rethinking the mistakes and realizing that the existing marketing concept does not work there is nothing wrong with rebranding.

There won't be a good exchange, either, until the Obyte team is on the path to fix it ... and I really feel like someone is hiding the setbacks. Btw, since conventional strategies don't work, maybe in this case Obyte team will contact Tether and agree on the launch of USDT on the Obyte Network? ^{[tether/transparency]}

There wasn't much wrong with Byteball brand and there isn't anything wrong with Obyte brand either. Any brand can be marketed, it's all up to the community if they do it or not.

If you look other communities, they have users who take the news that their project publishes and they speead the news, they discuss the news, they compare it with other project. You come here, in Obyte, you just get wall of pessimism.

Obyte has given all the tools and content for you to market it, so do it, don't just FUD it all the time (FUDing your own bag is stupid). And if you think you are marketing genius, apply for a job https://obyte.org/careers

[icopress]

[...]

Speaking of rebranding, the name change is the last thing that would interest me ... and it’s not the first time I’ve seen you place a lack of momentum on the shoulders of the community. As for the "wall of pessimism" you are talking about, I think any reasonable person should agree that this is much better than a wall of spam, or even worse, complete silence, (you should be aware that everyone here appreciates your presence and that of tonych). However, something is wrong ..

[tarmo888]

Speaking of rebranding, the name change is the last thing that would interest me ... and it’s not the first time I’ve seen you place a lack of momentum on the shoulders of the community. As for the "wall of pessimism" you are talking about, I think any reasonable person should agree that this is much better than a wall of spam, or even worse, complete silence, (you should be aware that everyone here appreciates your presence and that of tonych). However, something is wrong ..

On whose shoulders should the momentum be then? Obyte Foundation creates the software and publishes the news, it's up to the community to make it heard.
One man or small group of people can only do very little, a community on the other hand, could make a lot of noise, if they wanted.
Bitcointalk, luckily, removes lot of the spam and tonych uses Bitcointalk mostly to dump news (you can see it from his latests posts).
I sometimes post to combat FUD. Silence would be better because then FUD wouldn't bury the news.

There won't be a good exchange, either, until the Obyte team is on the path to fix it ... and I really feel like someone is hiding the setbacks. Btw, since conventional strategies don't work, maybe in this case Obyte team will contact Tether and agree on the launch of USDT on the Obyte Network? ^{[tether/transparency]}

Didn't we have news, that we take bids for raising the funds to get listed on good exchanges? Even feedback from those people was that they would buy more GBYTE if would raise more to get on bigger exchanges. We just haven't raised enough so it would align with the expectations of how much good exchanges ask. Meanwhile, everyone is pretty happy to ape into unfinished projects that promise to fix their sh1t by the end of the year (they postpone the goal post every year).

[wudackprod]

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[CryptKeeper]

Obyte explainer video with giveaway

https://twitter.com/ObyteSimply/status/1399556623543148545?s=20

[mishax1]

fresh install of v3.3.2 on a new win10(64bit), the wallet tries to open and crashes immediately.  

[icopress]

fresh install of v3.3.2 on a new win10, the wallet tries to open and crashes immediately. 

Confirm, just checked.

[tarmo888]

fresh install of v3.3.2 on a new win10, the wallet tries to open and crashes immediately. 

Confirm, just checked.

Unable to reproduce it.
Do you mean installing the 64bit setup file or do you mean building it from the source?

[mishax1]

fresh install of v3.3.2 on a new win10, the wallet tries to open and crashes immediately. 

Confirm, just checked.

Unable to reproduce it.
Do you mean installing the 64bit setup file or do you mean building it from the source?

Obyte-win64

[mishax1]

technical implementation of Obyte is beyond praise,

It seems your are blind to cons of Obyte. Want to know why investors don't  take this coin seriously? OK, there it is. This is because the highly centralized nature of Obyte network architecture. Want to stop Obyte working? Nothing easier - stop 15 servers belonging to Obyte witnesses, even less than 15, because it seems that  7 witnesses belong to developer itself and run on the single server.

Thank you for pointing that out.

[tarmo888]

technical implementation of Obyte is beyond praise,

It seems your are blind to cons of Obyte. Want to know why investors don't  take this coin seriously? OK, there it is. This is because the highly centralized nature of Obyte network architecture. Want to stop Obyte working? Nothing easier - stop 15 servers belonging to Obyte witnesses, even less than 15, because it seems that  7 witnesses belong to developer itself and run on the single server.

Nope, that's not how you stop the network. In order to stop the network, you would need to take out all full nodes.

Where did you get the number 15 from? There is 12 Order Providers needed for every transaction and as long as there are at least 7 of them are posting their own transactions, all previous transactions can become stable. There is no blocks, so if for short while, too many of them stopped, network keeps running and new transactions get distributed, just the confirmations are delayed.

There are 7 Order Providers who are not the founder, so Obyte has been fully decentralized and doesn't have a single point of failure since July 2020. You have no proof where founder's 6 Order Providers run, you just made it up.

Maybe shut up about things you don't understand.