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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1227324 times)
HI-TEC99
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December 30, 2016, 12:07:18 AM
Last edit: December 30, 2016, 12:19:48 AM by HI-TEC99
 #2861

Hi guys,

A question about the remaining distribution of 90%.

If I understood well until now only 10% of all Byteballs are distributed.
Additionally I have read that on the receiving address for every Byte received 0.1 Byte will be added.

How long exactly shall take the distribution of all Byteballs. There must be monthly distributions rounds for years if on every round only 1/10 of the initial distribution takes place.

How is taken into account the Byteball amount on one Byteball address for futur distribution rounds.

I think I have missed some key information.

Tks


This is the key information you missed from the OP.




If you missed the 1st round of distribution, you can still participate in the further rounds.  If you were in the 1st round, you can multiply your holdings.  In the second round, which is expected in mid-February, you receive:
- 62.5 MB for every 1 BTC of proven balance
- 0.1 new bytes for every 1 byte (received in the 1st round)

.<snip>

The linking phase will end in mid February (exact date to be announced later), after which we'll do the distribution in proportion to BTC and bytes balances on the distribution date.

In the second round, we'll distribute as much as is linked and calculated by the above rules, the exact % is not known in advance.  

The 3rd and subsequent rounds (yet to be announced) will follow similar rules, but the relative weight of bytes vs. BTC in the 3rd and further rounds will change and will gradually increase to 1 BTC=62.5 MB.  It will be selected to maximize the value of bytes and keep the speed of distribution in sync with the growth of user base and the actual use of the network.  The ratio 62.5 MB per 1 BTC is chosen so that the total money supply of bytes (1015) and the total number of BTC in circulation (16,000,000) are equivalent.

We'll have as many rounds as is necessary until all bytes are distributed, the rounds will be spaced 1 to 2 months.
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dfox101
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December 30, 2016, 12:12:48 AM
 #2862

Looks like the 2nd distribution and up the bitcoin weight is pretty low. Need 16 BTC to get 1 GByte. First distribution is 0.7 BTC for 1 GByte? Huge differences.

Yes it is the early adopter advantages.

I am wondering why there's no larger exchanges? bittrex, poloniex? yobit? I guess they all want bitcoins in order to be listed.
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December 30, 2016, 12:30:33 AM
 #2863



If you missed the 1st round of distribution, you can still participate in the further rounds.  If you were in the 1st round, you can multiply your holdings.  In the second round, which is expected in mid-February, you receive:
- 62.5 MB for every 1 BTC of proven balance
- 0.1 new bytes for every 1 byte (received in the 1st round)

.<snip>


So if you have 100BTC in the 2nd round you will receive ~6.25GB

Also, if we buy on the exchanges and increase our BB somewhat. 
Does that count for the new exchange in the 2nd round of .1 new byte for every byte?
or does only the bytes received during the 1st distro count?

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December 30, 2016, 12:35:18 AM
 #2864

will need to buy some byteballs before the 2nd distribution!
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December 30, 2016, 12:35:39 AM
 #2865

Looks like the 2nd distribution and up the bitcoin weight is pretty low. Need 16 BTC to get 1 GByte. First distribution is 0.7 BTC for 1 GByte? Huge differences.

So does that mean that we don't know the total % of distribution in round #2?
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December 30, 2016, 05:19:13 AM
 #2866

Looks like the 2nd distribution and up the bitcoin weight is pretty low. Need 16 BTC to get 1 GByte. First distribution is 0.7 BTC for 1 GByte? Huge differences.

So does that mean that we don't know the total % of distribution in round #2?
the total % of distribution in round #2 depends on the sum from all BTC + BB participatin at this round
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December 30, 2016, 09:29:40 AM
 #2867

Looks like the 2nd distribution and up the bitcoin weight is pretty low. Need 16 BTC to get 1 GByte. First distribution is 0.7 BTC for 1 GByte? Huge differences.

Yes it is the early adopter advantages.

I am wondering why there's no larger exchanges? bittrex, poloniex? yobit? I guess they all want bitcoins in order to be listed.

They are checking and watching this coin daily, be sure of that. Poloniex might add it but they have very high standards including their own review of source code which will take some time given that Byteball is written from scratch, they will check it all to be asured there are no backdoors and such stuff. I'm expecting they will add Byteball sometime in Q1 2017.

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December 30, 2016, 12:14:50 PM
 #2868

The dreams:
I contacted Sasha Ivanov, founder of Waves, about the linked address 1NGfrU4YNp8dox1gLeUDyjD5Vpfck9no5j that has 4800 BTC from Waves ICO.  His response was that if the project is successful, he is going to distribute our coin as dividend to Waves holders.

and the reality:
Quote from: Sasha link=https://wavesplatform.slack.com/archives/general/p1482999414008654
We managed to make 35 BTC with byteballs, will be distributed as BTC token to WCT holders, it'll happen after the holidays
jeremy grol
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December 30, 2016, 12:24:43 PM
 #2869

The dreams:
I contacted Sasha Ivanov, founder of Waves, about the linked address 1NGfrU4YNp8dox1gLeUDyjD5Vpfck9no5j that has 4800 BTC from Waves ICO.  His response was that if the project is successful, he is going to distribute our coin as dividend to Waves holders.

and the reality:
Quote from: Sasha link=https://wavesplatform.slack.com/archives/general/p1482999414008654
We managed to make 35 BTC with byteballs, will be distributed as BTC token to WCT holders, it'll happen after the holidays

Ahahahahaha.
tony scammed hard.

It means waves dev will dump all their byteball on an still small market to take btc,giving btc to wct holder instead of byteball and  killing the coin.

They event won't wait months. After holydays...loool. they will dump for sure before next round begins, coause after next round price will collapse even more and their estimated 35 btc will turn into 5.
Good strategy!
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December 30, 2016, 12:34:25 PM
 #2870

Ahahahahaha.
tony scammed hard.

It means waves dev will dump all their byteball on an still small market to take btc,giving btc to wct holder instead of byteball and  killing the coin.

They event won't wait months. After holydays...loool. they will dump for sure before next round begins, coause after next round price will collapse even more and their estimated 35 btc will turn into 5.
Good strategy!

You probably didn't actually grasp the meaning of the message. Sasha of Waves has already sold his Bytes (for a ridiculously low sum of btc, if I may add), so the Bytes are now in someone else's hands, and I don't think that someone who wanted to have such a big amount of Bytes did that just to dump them. We will see.
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December 30, 2016, 01:06:43 PM
 #2871

Ahahahahaha.
tony scammed hard.

It means waves dev will dump all their byteball on an still small market to take btc,giving btc to wct holder instead of byteball and  killing the coin.

They event won't wait months. After holydays...loool. they will dump for sure before next round begins, coause after next round price will collapse even more and their estimated 35 btc will turn into 5.
Good strategy!

You probably didn't actually grasp the meaning of the message. Sasha of Waves has already sold his Bytes (for a ridiculously low sum of btc, if I may add), so the Bytes are now in someone else's hands, and I don't think that someone who wanted to have such a big amount of Bytes did that just to dump them. We will see.

It's the same. waves dev dumped hard all byteballs to take btc. but at begginning he wrote that he only divide byteball to wtc holder, NOT btc.

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December 30, 2016, 01:19:27 PM
 #2872

For any support issues, please file a request in the #helpdesk channel on the Byteball slack!

Get your slack invite here: http://slack.byteball.org/

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
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December 30, 2016, 01:21:33 PM
 #2873

Ahahahahaha.
tony scammed hard.

It means waves dev will dump all their byteball on an still small market to take btc,giving btc to wct holder instead of byteball and  killing the coin.

They event won't wait months. After holydays...loool. they will dump for sure before next round begins, coause after next round price will collapse even more and their estimated 35 btc will turn into 5.
Good strategy!

You probably didn't actually grasp the meaning of the message. Sasha of Waves has already sold his Bytes (for a ridiculously low sum of btc, if I may add), so the Bytes are now in someone else's hands, and I don't think that someone who wanted to have such a big amount of Bytes did that just to dump them. We will see.

It's the same. waves dev dumped hard all byteballs to take btc. but at begginning he wrote that he only divide byteball to wtc holder, NOT btc.



i tend to agree. they'll line up for round 2,3,4. it'd be fine if it was an individual claiming but it doesnt help with a broad distribution like tony wanted. i hope he does closed distribution methods next time to spread it out. waves and other icos actually work against community doing this particularly a free dist. they really should be content with their raised funds and step back
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December 30, 2016, 01:40:32 PM
 #2874

True, this distribution model prove that failed miserably.
Wondering why tony allow those ico to link btc.
There are some members here worked hard to promote byteball,spending their times, maybe with only a couple of btc available to link, and one guy with 4800 btc have done NOTHING except press a button "link", anoter button "send", and gained 35 btc.



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December 30, 2016, 02:08:36 PM
Last edit: December 30, 2016, 02:24:56 PM by Rumhurius
 #2875

70k btc linked ?
lol

You have been played.
How can someone think that giving free coins to Exchanges, Whales and Ico Wallets is a good idea in the first Place ?

This insane Number of linked BTC without any documentation to check the linked BTC Balances even makes me think, this happened only on Paper to get a nice chunk of your own Coins.

Unfair, intransparent, no income for further development.
There is so much wrong with this method of destribution.

https://www.youtube.com/watch?v=i8a3gjt_Ar0

smh






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December 30, 2016, 02:11:37 PM
 #2876

There is a slack channel #trading, please go there if you want to buy, sell, exchange Bytes and Blackbytes or want to speculate about the price!  Grin

Please keep this in mind for your own safety:

Quote
Little guide for Byteball trading

This slack channel is for discussing Byteball trading and for organizing such trades. Please be aware that at the moment, the only way to trade safely is through a reputable escrow middleman! Even if you think you know the guy who you want to trade with, you should better trade through an escrow! We've already seen lots of scammers who try to impersonate well-known community members. So proceed with due diligence and always make sure that you are dealing with the right person, especially your escrow middleman. Only use registered escrow services and compare the usernames and bitcoin addresses carefully before you send someone your precious coins!

Registered escrow services:

@yassinnxt
Registered escrow bitcoin address: 153tSmxbKfby652LUyYdYEZhoxY9RzHYrz
Fee: 1% in BTC (from Byteball buyer)
(approx. 2700 BTC escrowed so far)

@seccour
Registered escrow bitcoin address: 1Hx3kxKbYyNgGyqzLB5Qw8BA8dZbuu1Xjn
Fee: none (tips accepted)
(over 500 BTC escrowed so far)

@martis
Registered escrow bitcoin address: 1pMPHbinYokoXEDav5J3tkto14rxBSwx9
Fee: 1% in BTC (split 50/50 between buyer and seller)

Get your slack invite here: http://slack.byteball.org/

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
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December 30, 2016, 02:25:23 PM
 #2877

70k btc linked ?
lol

You have been played.
How can someone think that giving free coins to Exchanges, Whales and Ico Wallets is a good idea in the first Place ?

This insane Number of linked BTC without any documentation to check the linked BTC Balances even makes me think, this happened only on Paper to get a nice chunk of your own Coins.

Unfair, intransparent, no income for further development.
There is so much wrong with this method of destribution.

smh






Everyone got it for free, I'm not sure how unfair it is.
Yeah, there are some addresses holding large amounts, but this will eventually be distributed, and the first round corresponds to only 10% of the total supply.
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December 30, 2016, 02:30:54 PM
 #2878

70k btc linked ?
lol

You have been played.
How can someone think that giving free coins to Exchanges, Whales and Ico Wallets is a good idea in the first Place ?

This insane Number of linked BTC without any documentation to check the linked BTC Balances even makes me think, this happened only on Paper to get a nice chunk of your own Coins.

Unfair, intransparent, no income for further development.
There is so much wrong with this method of destribution.

https://www.youtube.com/watch?v=i8a3gjt_Ar0

smh

In fact there was documentation to check linked BTC balances, actually there was even a website specifically for that (http://transition.byteball.org/). That's why the community was immediately able to spot Waves and Lisk's linked BTC addresses.
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December 30, 2016, 02:55:39 PM
Last edit: December 30, 2016, 05:15:05 PM by drays
 #2879

70k btc linked ?
lol

You have been played.
How can someone think that giving free coins to Exchanges, Whales and Ico Wallets is a good idea in the first Place ?

This insane Number of linked BTC without any documentation to check the linked BTC Balances even makes me think, this happened only on Paper to get a nice chunk of your own Coins.

Unfair, intransparent, no income for further development.
There is so much wrong with this method of destribution.

https://www.youtube.com/watch?v=i8a3gjt_Ar0

smh

In fact there was documentation to check linked BTC balances, actually there was even a website specifically for that (http://transition.byteball.org/). That's why the community was immediately able to spot Waves and Lisk's linked BTC addresses.

+1
Everything was done in a very transparent way. Absolutely no reason for such accusations.
There are so many haters who do not even care to check simple things... I actually suspect the guy has probably missed distribution and/or fudding the price down to buy more now Grin

... this space is not for rent ...
drays
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December 30, 2016, 03:07:34 PM
 #2880

The dreams:
I contacted Sasha Ivanov, founder of Waves, about the linked address 1NGfrU4YNp8dox1gLeUDyjD5Vpfck9no5j that has 4800 BTC from Waves ICO.  His response was that if the project is successful, he is going to distribute our coin as dividend to Waves holders.

and the reality:
Quote from: Sasha link=https://wavesplatform.slack.com/archives/general/p1482999414008654
We managed to make 35 BTC with byteballs, will be distributed as BTC token to WCT holders, it'll happen after the holidays

Thanks for sharing this! I do not know this "Sasha" personally, but everything shows he is a cheater in all aspects. Tony was warned multiple times about those cheaters (by many people, including me), but chose to stick to original rules... No comments, maybe he is right, maybe not. Time will show.

They managed to make 35 BTC ?  Grin It funny how they did end up with such small amount Smiley
With their linked 6.9k BTC, they should have got at least 100-150 BTC! So this means one of two things: either they are going to dump more soon, or Sasha tricked his own investors, and kept 60-70% of coins for himself  Grin
Waithing for Lisk now Smiley

... this space is not for rent ...
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