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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1168213 times)
ArabMist
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January 21, 2017, 11:18:41 PM
 #3581

in this exchange site you can also trade with fiat currencies like USD, European...

vote everyone https://mercatox.com/coins/list byteball is on 2nd position :slightly_smiling_face:
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CryptoMrM
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January 22, 2017, 01:00:47 AM
 #3582

We'll have our 2nd distribution round under the Full Moon, on 11th of February at 0:33 UTC.
We will probably follow the Full Moon calendar for future rounds too.

Bitcoin snapshot will be taken in the first block after the date.
Snapshot of Byteball database will be taken on exactly this date and will include only final transactions.

The transition bot is already working (find the link at https://byteball.org), chat with it to link your Bitcoin address and check the currently linked addresses and their balances.  If you participated in the 1st round, your linked addresses stay the same, you don't need to link again.

The distribution rules:

BTC to bytes: 1 BTC of proven balance gives you 62.5 MB (0.0625 GB)
BTC to blackbytes: 1 BTC of proven balance gives you 2.1111 * 62.5 million blackbytes (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.1 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.21111 blackbytes

If you already hold bytes, please move them to one of the linked BB addresses (chat with the bot to learn what your linked addresses are) before the distribution date to receive your share of blackbytes.  This is a technicall necessity that follows from how blackbytes work: we need to send the private payloads to your device and we know only the device address of the linked BB address, not of any other BB address.  If you don't care about blackbbytes for some reason, you don't need to do anything.  If you didn't touch your bytes after the 1st round (i.e. didn't send or receive a single transaction), you also don't need to do anything since all your bytes are still on the linked address.

Blackbytes that remain undistributed because some people didn't move their bytes to the linked address, will be transferred to a development fund which will be used to pay for future promotion and development.

In this round and at the current market prices, bytes give you a much larger share in the distribution than Bitcoins.  For example, holding 1 GB gives you the same as holding 1.6 BTC:
1 GB -> 0.1 GB
1.6 BTC -> 1.6 * 0.0625 = 0.1 GB
This is one of the nice things about being an early adopter.

Chat with the bot to check the current status or link new Bitcoin addresses and don't forget to move your Bitcoins and Bytes to the linked addresses before the February Full Moon.


Don't these rates equate to hardly any supply getting distributed?

Bytes to bytes: 1 byte on any Byteball address gives you 0.1 new bytes = 10% of released supply = 1%
BTC to bytes: 1 BTC of proven balance gives you 62.5 MB (0.0625 GB) = 100,000 (approx BTC linked) = 6,250 GB = 0.625%

Total = 1.625%

I mean 20 BTC linked is just 1.25 GB which is 0.05 BTC at current market prices (if you even believe in that price and likely to be diluted). Not really worth my time so I'll probably be passing on this one. Unless I've got something wrong?

P.S. Not ungrateful for the free money, just thinking economically with opportunity costs, transfer fees etc
stkuser1
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January 22, 2017, 01:44:55 AM
 #3583

We'll have our 2nd distribution round under the Full Moon, on 11th of February at 0:33 UTC.
We will probably follow the Full Moon calendar for future rounds too.

Bitcoin snapshot will be taken in the first block after the date.
Snapshot of Byteball database will be taken on exactly this date and will include only final transactions.

The transition bot is already working (find the link at https://byteball.org), chat with it to link your Bitcoin address and check the currently linked addresses and their balances.  If you participated in the 1st round, your linked addresses stay the same, you don't need to link again.

The distribution rules:

BTC to bytes: 1 BTC of proven balance gives you 62.5 MB (0.0625 GB)
BTC to blackbytes: 1 BTC of proven balance gives you 2.1111 * 62.5 million blackbytes (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.1 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.21111 blackbytes

If you already hold bytes, please move them to one of the linked BB addresses (chat with the bot to learn what your linked addresses are) before the distribution date to receive your share of blackbytes.  This is a technicall necessity that follows from how blackbytes work: we need to send the private payloads to your device and we know only the device address of the linked BB address, not of any other BB address.  If you don't care about blackbbytes for some reason, you don't need to do anything.  If you didn't touch your bytes after the 1st round (i.e. didn't send or receive a single transaction), you also don't need to do anything since all your bytes are still on the linked address.

Blackbytes that remain undistributed because some people didn't move their bytes to the linked address, will be transferred to a development fund which will be used to pay for future promotion and development.

In this round and at the current market prices, bytes give you a much larger share in the distribution than Bitcoins.  For example, holding 1 GB gives you the same as holding 1.6 BTC:
1 GB -> 0.1 GB
1.6 BTC -> 1.6 * 0.0625 = 0.1 GB
This is one of the nice things about being an early adopter.

Chat with the bot to check the current status or link new Bitcoin addresses and don't forget to move your Bitcoins and Bytes to the linked addresses before the February Full Moon.


Don't these rates equate to hardly any supply getting distributed?

Bytes to bytes: 1 byte on any Byteball address gives you 0.1 new bytes = 10% of released supply = 1%
BTC to bytes: 1 BTC of proven balance gives you 62.5 MB (0.0625 GB) = 100,000 (approx BTC linked) = 6,250 GB = 0.625%

Total = 1.625%

I mean 20 BTC linked is just 1.25 GB which is 0.05 BTC at current market prices (if you even believe in that price and likely to be diluted). Not really worth my time so I'll probably be passing on this one. Unless I've got something wrong?

P.S. Not ungrateful for the free money, just thinking economically with opportunity costs, transfer fees etc

You're right, I guess there are something missing here. I remember tony said the 2nd round would distribute about 10% of all bytes.
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January 22, 2017, 02:21:20 AM
 #3584

Hello fellow bitcoiners Smiley

I am Escrow for whales!

Currently escrowed ~8T byteball, 2T of Blackbyte

Current escrow fee : 7.5%. (premium varies upon the market condition)

Buyer pays the premium.

PM for more info.

https://www.bitrated.com/bitcoinuserx

https://twitter.com/bitcoinuserx

Korean Chinese Translator

Professional Korean translator.
Tg87
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January 22, 2017, 02:41:45 AM
 #3585

trust level very good
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January 22, 2017, 06:47:27 AM
 #3586

  Developer plans to add blackbytes on the  decentralized exchanges  - etherdelta/OpenLedger /Counterparty/bitsquare/  ?
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January 22, 2017, 09:06:15 AM
 #3587

I have hard time to interpret this order book

Quote
At 0.3997 BTC/GB sell vol. 1.496875219 GB
At 0.06 BTC/GB sell vol. 4.02194 GB
At 0.041100000000000005 BTC/GB buy vol. 3.520924574 GB
At 0.041 BTC/GB buy vol. 0.486829268 GB
At 0.04 BTC/GB buy vol. 0.4926175 GB
At 0.0251 BTC/GB buy vol. 7.991952191 GB
At 0.025 BTC/GB buy vol. 7.984 GB
At 0.023 BTC/GB buy vol. 8.67826087 GB
At 0.020819 BTC/GB buy vol. 19.174792257 GB

Why the lowest sell doesn't fill the highest buy?

.
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January 22, 2017, 09:17:07 AM
 #3588

I have hard time to interpret this order book
Quote
At 0.3997 BTC/GB sell vol. 1.496875219 GB
At 0.06 BTC/GB sell vol. 4.02194 GB
At 0.041100000000000005 BTC/GB buy vol. 3.520924574 GB
At 0.041 BTC/GB buy vol. 0.486829268 GB
At 0.04 BTC/GB buy vol. 0.4926175 GB
At 0.0251 BTC/GB buy vol. 7.991952191 GB
At 0.025 BTC/GB buy vol. 7.984 GB
At 0.023 BTC/GB buy vol. 8.67826087 GB
At 0.020819 BTC/GB buy vol. 19.174792257 GB
Why the lowest sell doesn't fill the highest buy?
Because 0.06 > 0.0411

tortellino
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January 22, 2017, 09:38:46 AM
 #3589

Two Questions for the 2nd Aidrop:

1.I have linked BTC and GBYTE addresses from the first Aidrop. What do i have to do if i wanna change just my GBYTE adress for the second AIRdrop to recieve the maximum amount of blackbytes?

2.Because of transactions i now see 5 GBYTE adresses in my wallet information (all wallet addresses). Can i make transactions to my older addresses to choose one of those for linking (so i didn´t need a second wallet)?

Thanks Smiley
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January 22, 2017, 10:24:26 AM
 #3590

Don't these rates equate to hardly any supply getting distributed?

Total = 1.625%

You're right, I guess there are something missing here. I remember tony said the 2nd round would distribute about 10% of all bytes.

Nothing's missing. It actually was never said that 10% will be distributed during the second round. In the previous rules, 20% were projected but the rules changed quite a while ago and now the distribution is much slower. The biggest one was (and will be) the first round. Next rounds will give more advantage to bytes' holders than to BTC linkers.

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January 22, 2017, 10:40:40 AM
 #3591

1.I have linked BTC and GBYTE addresses from the first Aidrop. What do i have to do if i wanna change just my GBYTE adress for the second AIRdrop to recieve the maximum amount of blackbytes?

Well to get the blackbytes your bytes should be on linked BB addresses. Either transfer all your bytes to your newly linked BB address or link another that contains your bytes. Linking the same BTC address to different BB addresses will result in both links being discarded if I remembr correctly.

2.Because of transactions i now see 5 GBYTE adresses in my wallet information (all wallet addresses). Can i make transactions to my older addresses to choose one of those for linking (so i didn´t need a second wallet)?

Yes you can. Your device gives you access to all your addresses so yes you can use one of your old addresses, especially if one of them is already linked. If you just want to use one of your old addresses that is not yet linked then I don't really see the use. There's no need for a second wallet either.

Anyway, check with the bot your linked addresses, make sure they are yours, and transfer the funds there, that seems to be the easiest.

Thanks Smiley

Welcome Smiley.

tortellino
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January 22, 2017, 02:01:19 PM
 #3592

@kaicrypzen: done Grin

Lets see where the price will go before 12 february.  i think a big FOMO will happen...
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January 22, 2017, 02:05:53 PM
 #3593

I have hard time to interpret this order book
Quote
At 0.3997 BTC/GB sell vol. 1.496875219 GB
At 0.06 BTC/GB sell vol. 4.02194 GB
At 0.041100000000000005 BTC/GB buy vol. 3.520924574 GB
At 0.041 BTC/GB buy vol. 0.486829268 GB
At 0.04 BTC/GB buy vol. 0.4926175 GB
At 0.0251 BTC/GB buy vol. 7.991952191 GB
At 0.025 BTC/GB buy vol. 7.984 GB
At 0.023 BTC/GB buy vol. 8.67826087 GB
At 0.020819 BTC/GB buy vol. 19.174792257 GB
Why the lowest sell doesn't fill the highest buy?
Because 0.06 > 0.0411

Oops, my bad. Was reading 0.3997 as 0.03997.

.
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January 22, 2017, 02:18:57 PM
 #3594

in this exchange site you can also trade with fiat currencies like USD, European...

vote everyone https://mercatox.com/coins/list byteball is on 2nd position :slightly_smiling_face:

whats the coinsymbol? The official one? At that page its BYTEBALL.

paying the fee for trading at bittrex its recommended and not on marcatox.
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January 22, 2017, 02:22:37 PM
 #3595

Byteball mentioned on CoinTelegraph!  Shocked

https://cointelegraph.com/news/bitcoin-price-growth-lifts-some-altcoins-along-path

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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January 22, 2017, 02:38:59 PM
 #3596


Fargocoin- new invention PoS LOL

Tony Churyumoff, CEO of Byteball, believes they are on board with a number of technical differences, which are important, but most of all ease of use, which is commonly neglected in the crypto market. As at the time of filing this report, Byte was at number 26 on CoinMarketCap. That is very impressive for a digital currency that was listed less than two months ago.

they mistook byteball with bytecoin LOL
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January 22, 2017, 02:40:27 PM
 #3597

Price is exploding. Lisk please dump now, I want to buy more but cheaper! Max be our friend :-)

I'm in contact with Lisk and ICONOMI and they are not going to sell any time soon.

@tonyc

are you in favour for big exchanges like polo or bittrex? would you help them with the integration?
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January 22, 2017, 03:13:49 PM
 #3598

what exactly are the benefits of bigger exchanges? cryptox is really fine!

why is everyone just focusing on the exchanges? what about the upcoming features?
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January 22, 2017, 03:43:53 PM
 #3599

   wallet v1.1.1  win 7x64 . very long synchronization. more 1 hour .This is normal? How to fix it ? https://i.supload.com/Hk4tNLfvl.png   Thanks
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January 22, 2017, 03:52:17 PM
 #3600

what exactly are the benefits of bigger exchanges? cryptox is really fine!

why is everyone just focusing on the exchanges? what about the upcoming features?

Well, volume sucks so there's a big ass spread. You think 15% difference between buys and sells is ideal? Also, their site sucks, they don't even show volume for last 24 hrs, but eyeballing orders looks like just a couple BTC worth.
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