Obyte: Totally new consensus algorithm + private untraceable payments

[CryptKeeper]

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[NorrisK]

Can we link an online wallet be linked to byteball?

I guess, as long as that address really is where the coins are kept by the service. Exchanges for instance, move the coins directly to their hot or cold wallet, leaving your deposit address empty.

I wouldn't advise using an online wallet at all, but if you really have to and it is like described above, I don't see why it shouldn't work.

[kola-schaar]

Can we link an online wallet be linked to byteball?

I guess, as long as that address really is where the coins are kept by the service. Exchanges for instance, move the coins directly to their hot or cold wallet, leaving your deposit address empty.

I wouldn't advise using an online wallet at all, but if you really have to and it is like described above, I don't see why it shouldn't work.

Yes, this works, but can be a little difficult. There were some discussions about the blockchain wallet:
https://bitcointalk.org/index.php?topic=1608859.1780
https://bitcointalk.org/index.php?topic=1608859.1300
https://bitcointalk.org/index.php?topic=1608859.2120

[torben]

Is this a hipstercoin?  At first glance this looks for me like WhatsApp for crypto.
Is there a target group? I thought DAG is for the IOT market.
Why should the coin be good?

Thanks for the answer

[yvv]

please get Byteball to Bittrex, we need serious exchange here

Let's better create some liquidity on internal exchange.

[Raxitto]

dam..... i never saw a thread with so much "legendary" users posting on it...
that gives a nice credibility to BB. i guess........
and i was wondering?! why just that polish exchange is trading BB....
what s the meaning of it?? anybody has clew???

[kaicrypzen]

and i was wondering?! why just that polish exchange is trading BB....
what s the meaning of it?? anybody has clew???

grzem, the admin of https://cryptox.pl approached tonych, the main dev, about listing. I don't know if anyone here approached any other exchange about listing, if so, they might not be on-board because of the majority of the coins being held by Tony, we trust him , maybe the exchanges don't, or maybe they're just not aware of the existence of byteball.

[kola-schaar]

Is this a hipstercoin?  At first glance this looks for me like WhatsApp for crypto.
Is there a target group? I thought DAG is for the IOT market.
Why should the coin be good?

Thanks for the answer

I think you have to read the white paper  . Hmm.. but you need some basic knowledge of financial products and assets.. I will try to translate it in your terminology:
It’s more like Spotify for assets and currencies. You can build your own sound / mixtape or playlist using these genres  :

•   page 33 Assets
•   page 37 Bank issued assets
•   page 38 None-financial-assets
•   page 38 Bonds
•   page 39 Commodity Bonds
•   page 40 Funds
•   page 40 Settlements
•   page 40 private payment
•   page 42 Fixed denominations assets
•   page 45 Arbitrary structured data  (..this message type can be used to post Ethereum code for the subset..)
•   page 45 Text
•   page 46 Voting
•   page 47 private messaging

As you see, private messaging / cryptocurrencies (like blackbytes) are only a very small facet of Byteball. Bots and private messaging are the interfaces to hide the (upcoming) complexity for the most users.
This (and cryptocurrencies) are needed to enter /impact (via private use) the real world markets.
In this case, instant transfers and exchange of cryptocurrencies are basic feature / apps to achieve presence. This is needed (as a catalyst for change - because they are very conservative) to enter the above addressed markets / potential fields of application.

The great advantage of byteball is easy use and the ability to build compliance (see page 3 compliance).

Apart from the fintech markets, there are other very interesting markets, which need an urgent refurbishment (in terms of efficiency):

•   patent management (utility patent, design patent)
•   copyright management / intellectual property (picture, songs, books etc.)
•   management of property and estates rights

Last but not least there are also some positive side effects: http://science.sciencemag.org/content/354/6317/1288
Perhaps the seed thrives just where nobody expects it .. and nothing else grows
(Maybe even old btc ideal can be re-lived  )

As you can see, this is a pretty cool thing in every respect. 

Hmm …IOTA – no problem - They are brothers like the Klitschkows  :
Iota penetrates the economy and Byteball penetrates the society – easy.
So, Dude, give yourself a jolt - it would be nice if you join…
and Hey ! Don't forget to bring your sister with you..

Disclaimer: Just my two cents

[ArabMist]

Is this a hipstercoin?  At first glance this looks for me like WhatsApp for crypto.
Is there a target group? I thought DAG is for the IOT market.
Why should the coin be good?

Thanks for the answer

I feel it's a lot more than that. The messaging option is such a small component of byteball but one that is being used in the early days as it's a functionality that is "online" and up and running. Have a read of the whitepaper for it's uses and potential user base. It's a nice read and not too hard to get your head around. Also check out Kolas reply above, he covers many points useful to your question.

[rekcahxfb_foundation]

Hello, how can i link my btc address to byteball? Thanks

[tonych]

Byteball twiter campagin  https://bitcointalk.org/index.php?topic=1760819.0 signature campagin  https://bitcointalk.org/index.php?topic=1760807.0

tonych is this official?

Yes, what makes you doubt?

[tonych]

I see the transaction as confirmed (6 hours ago) in the history, however, the blackbytes do not appear in my recepient device (which is in the latest version and synced).

I've just published 1.1.1 to Google play, please update in a few hours.  The error will be just ignored, it won't crash the app.

Now both my devices have the latest version and are synced. The app on my Android device doesn't crash anymore, my blackbytes transaction appears in the history and blackbytes are missing from the balance.

It is even more weird than the previous error.  Did you try to reboot it?

The full wallet on my 64-bit Windows 10, however, doesn't seem to have received the blackbytes, they do neither show in the balance nor in the history.

Was is supposed to receive blackbytes?  Did it have linked addresses?

[str4wm4n]

Byteball twiter campagin  https://bitcointalk.org/index.php?topic=1760819.0 signature campagin  https://bitcointalk.org/index.php?topic=1760807.0

tonych is this official?

Yes, what makes you doubt?

nothing, thanks for confirmation!

[barnes13]

Hello, how can i link my btc address to byteball? Thanks

take a look, this is a Tutorial: linking Ledger wallet Nano S to Byteball account via signing a message with Electrum made by @hermesesus
https://bitcointalk.org/index.php?topic=1608859.msg17160291#msg17160291
Because this is a second distribution you need to read post from @tonych
https://bitcointalk.org/index.php?topic=1608859.msg17566450#msg17566450

[valley365]

Anyone looking to buy GBBlack with White or BTC PM me directly. I have already sold over 1200 GBB at 4 to 1 GBB/GBW ratio. Have 1500 GBB left to sell or trade.

Please email to admin@cryptox.pl asking them to add GBB/GB or GBB/BTC trading pair. I emailed them, but they said that they did not receive enough requests to add it. So please email them if you want to trade GBB.

[wpalczynski]

Byteball twiter campagin  https://bitcointalk.org/index.php?topic=1760819.0 signature campagin  https://bitcointalk.org/index.php?topic=1760807.0

tonych is this official?

Yes, what makes you doubt?

Nice to see these campaigns organised, everything seems to be falling into place.

On another note I am sure many people have had the opportunity to review the architecture of this new blockchain-less approach to the consensus algorithm.  Has anyone been able to find and articulate any potential security problems or shortfalls?

[davidoski]

On another note I am sure many people have had the opportunity to review the architecture of this new blockchain-less approach to the consensus algorithm.  Has anyone been able to find and articulate any potential security problems or shortfalls?

Yep, just a few of them:

1. Full node stores the whole DAG data which means it isn't that much more scalable in comparison to blockchain without blocksize limit (e.g. Monero). It has the same limitation related to hardware storage capacity and bandwidth.

2. Witnesses control the network. And they are only 12 of them. If they form a cartel they can start censor the network or do other malicious behavior. Getting rid of witnesses cartel is hard - the network needs to split which is called "schism". Read the whitepaper for more info.

3. Blackbyte are not fully anonymous. When you send them you reveal your IP to hub. TOR implementation is work on to mitigate the problem. Eventually (if implemented) blackbyte would be as anonymous as TOR is anonymous which is not 100%. Monero is much more anonymous.

4. Whitebyte are fully transparent just as bitcoin blockchain. You can check the senders holdings just by going to DAG explorer. There are no plans to make them less susceptible to analysis and therefore more fungible.

5. Data storing feature is very limited due to cost. It's basically just a little text storing feature. Take a look at my calculations to see why.

[CryptKeeper]

I wish all the people would give a vote to ByteBall on trading sites MERCATOX, I believe with many trading sites will make many other new communities grow to make byteball be great, please give free VOTE for byteball and immediately added to the trading site MERCATOX

https://mercatox.com/coins/list

I've voted for Byteball, please join! 

[Karartma1]

On another note I am sure many people have had the opportunity to review the architecture of this new blockchain-less approach to the consensus algorithm.  Has anyone been able to find and articulate any potential security problems or shortfalls?

Yep, just a few of them:

1. Full node stores the whole DAG data which means it isn't that much more scalable in comparison to blockchain without blocksize limit (e.g. Monero). It has the same limitation related to hardware storage capacity and bandwidth.

2. Witnesses control the network. And they are only 12 of them. If they form a cartel they can start censor the network or do other malicious behavior. Getting rid of witnesses cartel is hard - the network needs to split which is called "schism". Read the whitepaper for more info.

3. Blackbyte are not fully anonymous. When you send them you reveal your IP to hub. TOR implementation is work on to mitigate the problem. Eventually (if implemented) blackbyte would be as anonymous as TOR is anonymous which is not 100%. Monero is much more anonymous.

4. Whitebyte are fully transparent just as bitcoin blockchain. You can check the senders holdings just by going to DAG explorer. There are no plans to make them less susceptible to analysis and therefore more fungible.

5. Data storing feature is very limited due to cost. It's basically just a little text storing feature. Take a look at my calculations to see why.

I thought the second was the most obvious one and, in fact, it is. And given the other features that's a bit problematic. I thought of using TOR for BB but as you pointed out that's just as anonymous as TOR can be. Monero wins on that side.
Would be nice to hear something from tonych..

[johny08]

On another note I am sure many people have had the opportunity to review the architecture of this new blockchain-less approach to the consensus algorithm.  Has anyone been able to find and articulate any potential security problems or shortfalls?

Yep, just a few of them:

1. Full node stores the whole DAG data which means it isn't that much more scalable in comparison to blockchain without blocksize limit (e.g. Monero). It has the same limitation related to hardware storage capacity and bandwidth.

2. Witnesses control the network. And they are only 12 of them. If they form a cartel they can start censor the network or do other malicious behavior. Getting rid of witnesses cartel is hard - the network needs to split which is called "schism". Read the whitepaper for more info.

3. Blackbyte are not fully anonymous. When you send them you reveal your IP to hub. TOR implementation is work on to mitigate the problem. Eventually (if implemented) blackbyte would be as anonymous as TOR is anonymous which is not 100%. Monero is much more anonymous.

4. Whitebyte are fully transparent just as bitcoin blockchain. You can check the senders holdings just by going to DAG explorer. There are no plans to make them less susceptible to analysis and therefore more fungible.

5. Data storing feature is very limited due to cost. It's basically just a little text storing feature. Take a look at my calculations to see why.

I thought the second was the most obvious one and, in fact, it is. And given the other features that's a bit problematic. I thought of using TOR for BB but as you pointed out that's just as anonymous as TOR can be. Monero wins on that side.
Would be nice to hear something from tonych..

1./5. its a datastorage system. its minimal, otherwise its getting expensive, price of transaction is very low and will always be.

2. Witnesses are owning max 8% of voting capacity. An Attack has to be proven successful. Time will tell as this is a completely decentralised open source project

3. building on top of a system with ip address, you can use TOR. Can be the witnesses being eliminated by ip blocking? If no, then the system is Anonymous. It can be used anonymous besides ip address problem. Its maybe not for your need, but of millions chinese people.