Obyte: Totally new consensus algorithm + private untraceable payments

[strasboug]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

You will get bytes according to what's on your linked addresses. Your 2 GB should be on BB linked addresses, they can be on the same one or on different addresses, as long as they are on linked addresses, they will count for the distribution.

Great, thank you for your answer, I thought so but wasn't 100% sure.

Definitely encourages people to buy and hold, an interesting model for sure. We need Byteball on some other exchanges though.

Yes I am wondering why the other exchanges not accepting byteballs, those big ones, bittrex, poloniex, etc, they listed so many shitcoins, why not listing good ones like this. Possibly only shitcoin pay them listing fees.

[pwpwpw]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

You will get bytes according to what's on your linked addresses. Your 2 GB should be on BB linked addresses, they can be on the same one or on different addresses, as long as they are on linked addresses, they will count for the distribution.

Great, thank you for your answer, I thought so but wasn't 100% sure.

Definitely encourages people to buy and hold, an interesting model for sure. We need Byteball on some other exchanges though.

Yes I am wondering why the other exchanges not accepting byteballs, those big ones, bittrex, poloniex, etc, they listed so many shitcoins, why not listing good ones like this. Possibly only shitcoin pay them listing fees.

This coin is very new and already has close to forum 160pages, it will be on polo and all big exchanges soon, just wait a bit, it's live for 10 days only.

[ArabMist]

Maybe that's the reason we won't see large exchanges listing BB anytime soon.

If BB hodlers are numerous and exchanges only make money on tx fees then I can't see them paying too much emphasis on adding BB anytime soon.

[tdk2]

Maybe I have missed this,

but is there actually already a way to spend Bytes and use the database?

I don't mean trade - I mean, e.g., I totally trust this thing to be around for the next 50 years, and want to store an important document (say, my will, as a 1MB PDF-A) in it's database instead of paying a notary.

How would I have to go about doing that? The whitepaper describes what kind of data structures to create, but what are the actual steps to do so, where do I send them (from the wallet??) and to whom?...  How would I keep a local documentation of the database entry, how could someone (after my untimely demise and loss of my computer passwords) retrieve or verify this document?

The distribution scheme seems to promote holding (or trading) the coins, so does the discussion here.
Totally understandable, but I am also interested in it's intended use...

[PiotrZielinski]

Will there be a 2nd distribution?

[str4wm4n]

Maybe I have missed this,

but is there actually already a way to spend Bytes and use the database?

I don't mean trade - I mean, e.g., I totally trust this thing to be around for the next 50 years, and want to store an important document (say, my will, as a 1MB PDF-A) in it's database instead of paying a notary.

How would I have to go about doing that? The whitepaper describes what kind of data structures to create, but what are the actual steps to do so, where do I send them (from the wallet??) and to whom?...  How would I keep a local documentation of the database entry, how could someone (after my untimely demise and loss of my computer passwords) retrieve or verify this document?

The distribution scheme seems to promote holding (or trading) the coins, so does the discussion here.
Totally understandable, but I am also interested in it's intended use...

Also interested in documentation on this functionality

[vlom]

whats up? the wallet download is super-slow. it shows me more than an hour for 89.3MB.

[piebeyb]

Will there be a 2nd distribution?

I think it came in February, at least you are in this thread to get the latest news about it

[drays]

I have a question/concern I would like to share. I am not sure if this was discussed before. Please note I have nothing against tonych, and I actually like how he is doing things, and I like this project too. But...

The BTC linking process and all the info at ttp://transition.byteball.org/ makes it much more easy to identify the BTC owners and link different addresses belonging to them. I think this is out of doubt. That is a really good database, which could be used when needed...

With subsequent distribution rounds this database will grow, and looking a the next distribution schemes, I see tonych expecting much (MUCH!) more new BTC linked in subsequent rounds. So the database is expected to grow, and more and more information will be available to link BTC wallets to each other, and to the person actually owning them.

I sometimes have an impression this project is funded by FBI or similar agency. It allows to collect so much more useful info for them. Byteball reminds me of a free cheese... its pretty tasty.. but you know who gives it and where you typically find it, right?

If I think how hard would be to implement a project of this scale for a single person (even if he is really smart), I become even more doubtful... Except the great vision itself, he should have so many different skills... starting from scientific ones to pure programming on different levels.

Of course, I am very far from affirming anything, I am just expressing my concerns, and would like to see what you guys all think about that...

[vlom]

there is always a risk that someone wants to cheat you.
and yes it is really hard for one person to achieve this all. but is really only one person behind this coin?

have somebody checked the wallets btw?
i did not install it because it is still downloading.....

[jokumat]

I have a question/concern I would like to share. I am not sure if this was discussed before. Please note I have nothing against tonych, and I actually like what how he is doing things, and I like this project too. But...

The BTC linking process and all the info at ttp://transition.byteball.org/ makes it much more easy to identify the BTC owners and link different addresses belonging to them. I think this is out of doubt. That is a really good database, which could be used when needed...

With subsequent distribution rounds this database will grow, and looking a the next distribution schemes, I see tonych expecting much (MUCH!) more new BTC linked in subsequent rounds. So the database is expected to grow, and more and more information will be available to link BTC wallets to each other, and to the person actually owning them.

I sometimes have an impression this project is funded by FBI or similar agency. It allows to collect so much more useful info for them. Byteball reminds me of a free cheese... its pretty tasty.. but you know who gives it and where you typically find it, right?

If I think how hard would be to implement a project of this scale for a single person (even if he is really smart), I become even more doubtful... Except the great vision itself, he should have so many different skills... starting from scientific ones to pure programming on different levels.

Of course, I am very far from affirming anything, I am just expressing my concerns, and would like to see what you guys all think about that...

You can use more byteball addresses to link each of your bitcoin addresses individually.
But even in this case anybody can connect your original bitcoin addresses when you spend your bytes from  more addresses in one transaction or when you deposit all bytes to one exchange address.
So basically you have to care about your privacy before you link your bitcoins to byteball   

[yvv]

I have a question/concern I would like to share. I am not sure if this was discussed before. Please note I have nothing against tonych, and I actually like how he is doing things, and I like this project too. But...

The BTC linking process and all the info at ttp://transition.byteball.org/ makes it much more easy to identify the BTC owners and link different addresses belonging to them. I think this is out of doubt. That is a really good database, which could be used when needed...

With subsequent distribution rounds this database will grow, and looking a the next distribution schemes, I see tonych expecting much (MUCH!) more new BTC linked in subsequent rounds. So the database is expected to grow, and more and more information will be available to link BTC wallets to each other, and to the person actually owning them.

I sometimes have an impression this project is funded by FBI or similar agency. It allows to collect so much more useful info for them. Byteball reminds me of a free cheese... its pretty tasty.. but you know who gives it and where you typically find it, right?

If I think how hard would be to implement a project of this scale for a single person (even if he is really smart), I become even more doubtful... Except the great vision itself, he should have so many different skills... starting from scientific ones to pure programming on different levels.

Of course, I am very far from affirming anything, I am just expressing my concerns, and would like to see what you guys all think about that...

Dude, fix your tinfoil hat. Transition database contains no more data than bitcoin blockchain itself.

[zanzibar]

Dude, fix your tinfoil hat. Transition database contains no more data than bitcoin blockchain itself.

Not necessarily, the client and transition bot can record your IP so it knows your location and your wallet info.

[yvv]

Dude, fix your tinfoil hat. Transition database contains no more data than bitcoin blockchain itself.

Not necessarily, the client and transition bot can record your IP so it knows your location and your wallet info.

Bitcoin client can do the same.

[jokumat]

I did not say the distribution was unfair.

I simply stated that the rules for the distribution of remaining coins are unknown and they depend on one entity. If it was a multisig or foundatiuon, it would not be better. It is still one priviliged group of people who can decide on the future distribution parameters.  This is a distribution without clear rules.

With good coins you can see the rules that were set in stone from the beginning. Subsequent changes (for example in mininig subsidy) were possible but a large consensus was necessary, most miners had to agree etc.

I I were tonych I would not give the funds to multisig. Too dangerous. He can lose control, he can get under pressure from people who only pretend interest. It is his creation.

Instead he should improve the rules of the future distribution, make them finite and follow them to the letter. The undistributed coins should be frozen in an address where anybody can see them.

[dfox101]

Maybe that's the reason we won't see large exchanges listing BB anytime soon.

If BB hodlers are numerous and exchanges only make money on tx fees then I can't see them paying too much emphasis on adding BB anytime soon.

Also since it is new codebase completely different from the bitcoin codebase where 95% of the coin are based on, it will take time for exchanges to integrate with the new codebase so they probably don't have time to do it.

[drays]

Not necessarily, the client and transition bot can record your IP so it knows your location and your wallet info.

Bitcoin client can do the same.

Aren't desktop bitcoin clients open-source, so you can check if they are actually doing that? While the bot isn't open-source as far as I know.
As to Bitcoin Web wallets, I consider them to be a perversion of Bitcoin decentralized idea anyway. They are centralized, controlled and lack privacy anyway... They are almost the same as banks, actually.

Dude, fix your tinfoil hat. Transition database contains no more data than bitcoin blockchain itself.

Well, sure you are correct to some extent. But I may have bought paper wallets not related to my other accounts in any way, have bought Bitcoin privately by getting privkey from the owner, or have funds in completely different wallets which never sent any funds to each other. Transition database is one more place to link seemingly unrelated wallets to each other.

Just thinking aloud anyway. I'll be really glad if my concerns of Byteball origins are wrong . Maybe the project is too great, so its hard to believe things are as simple as they're shown to us... Thanks for tip on tinfoil hat . I'll need one  

[zanzibar]

Dude, fix your tinfoil hat. Transition database contains no more data than bitcoin blockchain itself.

Not necessarily, the client and transition bot can record your IP so it knows your location and your wallet info.

Bitcoin client can do the same.

True

[imbladednow]

Distribution on this sucks. How can any of you want to buy this knowing that some people ( I wont name names) are using ico funds to collect on. Its crazy.

I wont invest one cent into the almost like a premined scam byteball. I know its not premined but its like it the way the distribution looks.

You can still link an address and share in the distribution.

Free is free, no matter how many bitcoins others hold..

But when others are using btc that was invested in their ico to use them and cash in now is a slap in the face to all the ico investors.

[22naru]

I did not say the distribution was unfair.

I simply stated that the rules for the distribution of remaining coins are unknown and they depend on one entity. If it was a multisig or foundatiuon, it would not be better. It is still one priviliged group of people who can decide on the future distribution parameters.  This is a distribution without clear rules.

With good coins you can see the rules that were set in stone from the beginning. Subsequent changes (for example in mininig subsidy) were possible but a large consensus was necessary, most miners had to agree etc.

I I were tonych I would not give the funds to multisig. Too dangerous. He can lose control, he can get under pressure from people who only pretend interest. It is his creation.

Instead he should improve the rules of the future distribution, make them finite and follow them to the letter. The undistributed coins should be frozen in an address where anybody can see them.

read the 1st page  and btw is his coin ... why so much stress .