Obyte: Totally new consensus algorithm + private untraceable payments

[jeremy grol]

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:

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 ?   It funny how they did end up with such small amount
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  
Waithing for Lisk now

Or maybe he's engage with sasha to take % of sasha dump.
I don't beleive fairitales that this guy calling tony spent 3 months of his life working for free and taking back only 1%.....bullshit.


tony was warned several times. Several. he just ignore this. so, probably, he got benefits.


Truth is always in between. noone is an angel, noone is a devil. everyone is both.

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[Jimmy2011]

35 BTC is too little. The guy who got that deal will make a lot of money.

So a cap should be added in the 2nd round, say, 100 BTC at most for an address, thus the big whales need to do the splits.

[yvv]

They managed to make 35 BTC ?  

I don't think so. They throw 35 BTC to waves shareholders now, but they most likely keep gigabytes and will dump them during next 10 years.

[kaicrypzen]

Something is troubling me about the 62.5 MB to 1 BTC rate ... In the opening post, it is written:

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.

Let's assume for the sake of argument that 16*10⁶ bitcoins are linked for the second round, so this means that 10¹⁵ bytes should be distributed which wouldn't be possible, or am I missing something? Thx.

[willowfoot]

The dreams:

I contacted Sasha Ivanov, founder of Waves, about the linked address 1NGfrU4YNp8dox1gLeUDyjD5@!$#@9no5j 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:

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 ?   It funny how they did end up with such small amount
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  
Waithing for Lisk now

Sasha linked 4800 BTC.

The 6.9K is Iconomi's fund
https://bitcointalk.org/index.php?topic=1587736.0

The largest 12.2k BTC is Lisk's wallet.

So yeah the top 3 wallets are all ICOs.  

[HI-TEC99]

The dreams:

I contacted Sasha Ivanov, founder of Waves, about the linked address 1NGfrU4YNp8dox1gLeUDyjD5@!$#@9no5j 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:

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 ?   It funny how they did end up with such small amount
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  
Waithing for Lisk now

Sasha linked 4800 BTC.

The waves ICO made 29636 Bitcoins. If all sasha had left to link was 4800 BTC then he will probably have very little left to link for the next byteball round. He's burning through those 29636 Bitcoins very fast.

[jeremy grol]

I have heard that bittrex/poloniex will not list byteball cause that weird distribution model.
they basically don't want to see a potential giant mass dump to their platform from those big ico holder.
That will hurt bittrex/poloniex reputation.

[windjc]

I sold all my byteball whites.

I am now selling byteball blacks.

If interested please PM best offer.

I have a lot. Probably more than you can buy. So let me know.

[alt213]

I sold all my byteball whites.
I am now selling byteball blacks.
If interested please PM best offer.
I have a lot. Probably more than you can buy. So let me know.

PM sent.

[windjc]

I sold all my byteball whites.
I am now selling byteball blacks.
If interested please PM best offer.
I have a lot. Probably more than you can buy. So let me know.

PM sent.

You offered to buy blacks at <1/20 the current exchange rate for whites. This is not a serious offer.

[willowfoot]

I have heard that bittrex/poloniex will not list byteball cause that weird distribution model.
they basically don't want to see a potential giant mass dump to their platform from those big ico holder.
That will hurt bittrex/poloniex reputation.

source?

[jokumat]

Participation in Byteball distribution

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)

There was 100 000 GB distributed in the first round.
This means that there will be 10 000 GB distributed to byteball holders in the second round (0.1 new bytes for every 1 byte received in the 1st round).

Let us assume that in the second round there will be 100 000 BTC linked.
This would mean there will be 6250 GB distributed according to BTC balances.

So most likely the dev will distribute much less bytes in the second round (than in the first round).

People tend to be suspicious about cryptos where the majority of coins is held by the dev for a long time.

This is not like Bitcoin where you know everything about the distribution from the beginning. Here we have the dev who reserves the right for himself to distribute most coins arbitrarily in the future. A free airdrop distribution is risky but possible. But here there is one person who controls 90 percent of the total amount of coins and this one person can ARBITRARILY decide about their future distribution. For months, maybe year(s) to come.

This must make byteball feel like a joke for any serious investor.

[jokumat]

And Max from the Lisk owns 20 percent of the distributed coins. And he can dump or get more in the second round. Much more. Absolutely for free. To say nothing of Iconomi, waves, comodo and other icos.

[jeremy grol]

And Max from the Lisk owns 20 percent of the distributed coins. And he can dump or get more in the second round. Much more. Absolutely for free. To say nothing of Iconomi, waves, comodo and other icos.

Right. The worst dirstibution model ever.
4-5 ico owner basically hold 50% coins. And will grab more,more and more every round. For do what? Absolutly nothing.

[SatoNatomato]

What other distribution model would be better?

Make your own financial institution in your country, your customers, theyd actually buy byteballs with fiat currency and use it instead of other payment-methods to buy other bank-issued assets? Expand into payment-processor and retail.

[jeremy grol]

What other distribution model would be better?

Make your own financial institution in your country, your customers, theyd actually buy byteballs with fiat currency and use it instead of other payment-methods to buy other bank-issued assets? Expand into payment-processor and retail.

For example raiblocks used a captcha-faucet with a very small available every day. that required user to work to get coins,user needed to spent times on faucet. and the poorest guys from india to donald trump if they wanted raiblocks, they have the same chance to get based on their times and effort.

Decred used to apply to a webform and prove acvities, and averyone got same share amount.

Here what we have?
I could have promote byteball for months, daily spent to tweet,talk,suggestion and at the end? comes lisk and waves dev that gained 20% supply to just press 1 button.

This sounds fair to you?


We warned several times tony about that. He just ignored community. And community was right.
So, hope he will stop this distribution based on btc link. And use more wide adoption for everyone.


Like UR(another example). free coin for everyone in the world. Everyone will receive same amount. That's is a wide adoption.

[SatoNatomato]

What other distribution model would be better?

Make your own financial institution in your country, your customers, theyd actually buy byteballs with fiat currency and use it instead of other payment-methods to buy other bank-issued assets? Expand into payment-processor and retail.

For example raiblocks used a captcha-faucet with a very small available every day. that required user to work to get coins,user needed to spent times on faucet. and the poorest guys from india to donald trump if they wanted raiblocks, they have the same chance to get based on their times and effort.

Decred used to apply to a webform and prove acvities, and averyone got same share amount.

Here what we have?
I could have promote byteball for months, daily spent to tweet,talk,suggestion and at the end? comes lisk and waves dev that gained 20% supply to just press 1 button.

This sounds fair to you?

No that is not fair not at all, especially because IT IS NOT THEIR MONEY. It is not their bitcoin. Thats definition of stealing.

This situation has to be rectified if byteball is going to be worth anything at all.

Captcha is a problem, since for example I only have this holiday to mess with this and have other work life to attend, and it doesnt scale, I would like a new coin to reach at least a hundred thousand people per day.

[yvv]

What other distribution model would be better?

Even a lottery would be better.

[Rumhurius]

There will be no ICO, no crowdsale.
I believe the success of a currency depends on the number of people who own it, in fact Peter R’s research suggests that historical marketcap of Bitcoin follows Metcalfe's law: https://bitcointalk.org/index.php?topic=572106.0, i.e. it is proportional to the square of the number of active users.
That’s why I want Byteball to be in the hands of as many people as possible:

Yeah right ^^
Dev can code a chainless anon Coin but pisses all over his Basics with this Distributionmethod.
https://www.youtube.com/watch?v=Ui51XoffInM&feature=youtu.be&t=19m15s

SWAAAAAAAAAAAAAAG

[tonych]

Something is troubling me about the 62.5 MB to 1 BTC rate ... In the opening post, it is written:

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.

Let's assume for the sake of argument that 16*10⁶ bitcoins are linked for the second round, so this means that 10¹⁵ bytes should be distributed which wouldn't be possible, or am I missing something? Thx.

In this unlikely case, we'll distribute the remaining 88% proportionally.