Obyte: Totally new consensus algorithm + private untraceable payments

[CryptKeeper]

i was playing with the internal byte btc exchange bot in the app. now i want to delete a sell order which i've made. is it possible?

No it's not possible at the moment to cancel an order. But you can sell to yourself if that helps.

What happens if someone wants to buy and I don't want to sell?

The trade is executed automatically if ask and bid are matching, but you could set your price so high that nobody wants to buy from you.  

[ghoom2]

i was playing with the internal byte btc exchange bot in the app. now i want to delete a sell order which i've made. is it possible?

No it's not possible at the moment to cancel an order. But you can sell to yourself if that helps.

What happens if someone wants to buy and I don't want to sell?

The trade is executed automatically if ask and bid are matching, but you could set your price so high that nobody wants to buy from you.  

And if he empties his wallet?

[yvv]

i was playing with the internal byte btc exchange bot in the app. now i want to delete a sell order which i've made. is it possible?

No it's not possible at the moment to cancel an order.

Shit

[instacalm]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

[CryptKeeper]

i was playing with the internal byte btc exchange bot in the app. now i want to delete a sell order which i've made. is it possible?

No it's not possible at the moment to cancel an order. But you can sell to yourself if that helps.

What happens if someone wants to buy and I don't want to sell?

The trade is executed automatically if ask and bid are matching, but you could set your price so high that nobody wants to buy from you.  

And if he empties his wallet?

This would do nothing because his Bytes are already transferred to the bot's escrow account.

[SatoNatomato]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

[zanzibar]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

Byteball really needs a community manager who can reach out to exchanges and organize marketing, etc...

[SatoNatomato]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

Byteball really needs a community manager who can reach out to exchanges and organize marketing, etc...

Maybe, but I wouldnt do that yet, to reach exchanges - those places are filled with "altcoin traders", an echo-chamber of the same people. To reach a wider audience, to gain more actual users and not speculators, we need to reach channels where altcoiners are not present. Niches where geeks do not hang around. Mom forums. Those kind of places, where you wouldnt think to mention byteball, but we do need it, to diversify and grow userbase. To learn what they need, what is difficult in the current wallet, to remove any obstacles for them to "pay" with very small price for something they want.

Exchanges are easy, every currency will get there, but to reach actual users is hard, and thats why its more worth to (begin) doing.

It would be nice with digital-service webshop, like "Send us bytes, which you can buy with PayPal/Visa/MasterCard from here ..., to receive access to ad-free content or gain imaginary karma-points on a forum". Must have something of worth for people to start and use a wallet over.

The more stuff you can buy, the more success byteball will have.

[zanzibar]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

Byteball really needs a community manager who can reach out to exchanges and organize marketing, etc...

Maybe, but I wouldnt do that yet, to reach exchanges - those places are filled with "altcoin traders", an echo-chamber of the same people. To reach a wider audience, to gain more actual users and not speculators, we need to reach channels where altcoiners are not present. Niches where geeks do not hang around. Mom forums. Those kind of places, where you wouldnt think to mention byteball, but we do need it, to diversify and grow userbase. To learn what they need, what is difficult in the current wallet, to remove any obstacles for them to "pay" with very small price for something they want.

Exchanges are easy, every currency will get there, but to reach actual users is hard, and thats why its more worth to (begin) doing.

It would be nice with digital-service webshop, like "Send us bytes, which you can buy with PayPal/Visa/MasterCard from here ..., to receive access to ad-free content or gain imaginary karma-points on a forum". Must have something of worth for people to start and use a wallet over.

The more stuff you can buy, the more success byteball will have.

I agree, but it seems like you're leapfrogging people's ability to buy Byteball, we need a much bigger community and more liquid places to buy BB before thinking about mainstream.

[SatoNatomato]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

Byteball really needs a community manager who can reach out to exchanges and organize marketing, etc...

Maybe, but I wouldnt do that yet, to reach exchanges - those places are filled with "altcoin traders", an echo-chamber of the same people. To reach a wider audience, to gain more actual users and not speculators, we need to reach channels where altcoiners are not present. Niches where geeks do not hang around. Mom forums. Those kind of places, where you wouldnt think to mention byteball, but we do need it, to diversify and grow userbase. To learn what they need, what is difficult in the current wallet, to remove any obstacles for them to "pay" with very small price for something they want.

Exchanges are easy, every currency will get there, but to reach actual users is hard, and thats why its more worth to (begin) doing.

It would be nice with digital-service webshop, like "Send us bytes, which you can buy with PayPal/Visa/MasterCard from here ..., to receive access to ad-free content or gain imaginary karma-points on a forum". Must have something of worth for people to start and use a wallet over.

The more stuff you can buy, the more success byteball will have.

I agree, but it seems like you're leapfrogging people's ability to buy Byteball, we need a much bigger community and more liquid places to buy BB before thinking about mainstream.

Sounds true, I am leapfrogging a bit. Need to wait for more distribution rounds to happen, for more BB to be released for possible sale.

[ArabMist]

Cryptocurrencies can become popular within a short period of time in today's age, and they have higher chances of becoming popular if they have a name that is widely accepted and equally liked among different cultures. Bitcoin is such a name. Byteball, as well, is a very attractive and nice name for a cryptocurrency project that embraces simplicity and elegant technology. Along with a new consensus algorithm and untraceable payments, as well as chat built in from the beginning, this one is one to observe and get involved in.

You said it man.

Byteball, like snowball but instead of snow, bytes are rolling.

Byteball really needs a community manager who can reach out to exchanges and organize marketing, etc...

Maybe, but I wouldnt do that yet, to reach exchanges - those places are filled with "altcoin traders", an echo-chamber of the same people. To reach a wider audience, to gain more actual users and not speculators, we need to reach channels where altcoiners are not present. Niches where geeks do not hang around. Mom forums. Those kind of places, where you wouldnt think to mention byteball, but we do need it, to diversify and grow userbase. To learn what they need, what is difficult in the current wallet, to remove any obstacles for them to "pay" with very small price for something they want.

Exchanges are easy, every currency will get there, but to reach actual users is hard, and thats why its more worth to (begin) doing.

It would be nice with digital-service webshop, like "Send us bytes, which you can buy with PayPal/Visa/MasterCard from here ..., to receive access to ad-free content or gain imaginary karma-points on a forum". Must have something of worth for people to start and use a wallet over.

The more stuff you can buy, the more success byteball will have.

I too had a limited idea of the potential of byteball and was encouraging exchanges to get on board to give me a clear exit point financially. Oh, how wrong I was and after reading posts on this thread, major exchanges is the last thing that BB needs. I agree with your previous post that as long at dev holds so much BB, no major exchange in their right mind is going to go near it in the short term.

What I do feel we need is a forum on byteball.org similar to bitsquare.io This thread is a total mess and it's hard to find the gems in all the rough. Slack moves too fast and although the quick fire chat is appealing to some, there may be a wealth of applications waiting for contribution and a single thread doesn't allow for that.

Is the logo fixed or just a holding white space for future design? I get simplicity is beauty but people need from a brand perspective, it won't work. We live in a world of symbolism and if we want mass adoption, they need to buy in to a symbol/logo/brand.

[cryptohunter]

My apologies if this has been already discussed, but what stops someone from sending the BTC proof from an exchange wallet? With a very small balance on an exchange, someone could potentially pretend they represent 1000s of Bitcoins.

I believe this distribution would be a lot more fair if it required the signature method, rather than allowing the tx method of proving address ownership.

It would be a lot more fair if they did it in any other way probably than the way they are doing it now.

BTW are you still part of curecoin? I've followed your guides since the start of arriving at this forum and mostly decided on cure on the basis of you being core to that project?

I was just thinking that requiring signatures over a message endorsing the Byteball address would be more sure-fire proof of ownership of the address.

Still part of Curecoin, we've got some cool announcements coming soon

Great. That is welcome news

[forzendiablo]

so if i have never sent any bytes i can just load BTC to same address as before and i will get new bytes or somethign else has to be done ?

[strasboug]

so if i have never sent any bytes i can just load BTC to same address as before and i will get new bytes or somethign else has to be done ?

Your address in the first distribution is still in record, so yes you can use the same address and do not need to do other things. To make sure, check http://transition.byteball.org to see your BTC and byteball address still there.

[cybterpunk]

this project is very interesting.
what's the biggest advantage of DAG ?

what's the big difference with byteball and Iota ?

thank you very much

[SatoNatomato]

this project is very interesting.
what's the biggest advantage of DAG ?

what's the big difference with byteball and Iota ?

thank you very much

Advantage of DAG: Environmentally friendly, no mining required, possibility to scale (in tx/s) well.

Difference: Byteball solves the inherent problem of a DAG - that it can grow horizontally - that is, each one/node can begin their own set of transactions which the others on the network do not see - causing problems of double-spending and not being able to have "confirmations"/finality for the rest of the network as the self-grown history can be merged (back) anytime, in fact, what the mainline is is undefined, thats the problem. You can have many histories many branches and need to know/decide by consensus which branch of the DAG is considered the true one.

Byteball solves this problem with a set of 12 witnesses who define the Main Chain, by rolling up transactions in collections called balls, witnesses "stamp" each valid transaction they see, if someone tries to grow the DAG horizontally, witnesses wont see it, so it wont be possible to merge back - unless its valid at that point, this is the "consensus algorithm" of Byteball. Main Chain. Thats it.

Iota doesnt solve this problem, instead they require trust between each ones/nodes, requires to trust the peer and no peer is allowed to enter the network without being vetted - so any problem nodes, nodes which make their own branches and widen the DAG, are confined to small parts of the network, and they have centralized milestones to define what the mainline in their DAG is, a manual developer-ruled process.

Ill give one point to Iota though, they use (attempt to have) "quantum safe" cryptographic primities, which Byteball doesnt do (I think Byteball is using the bitcoin selected and popularized secp256k1 curve for most of the important parts? And some SHA*). Still though, what Ive seen, Iota implements their own kind of sponge function which is a no-no in crypto, so Id be vary.

[Kryptowerk]

Very interesting project.
I have successfully linked my BTCs to my Byteball address. However I wonder how I can now link funds of an other BTC wallet to an other Byteball wallet I created (it's for my gf if you're wondering why). Right now the transition bot seems to be "stuck" with my own linked address.

[Come-from-Beyond]

Iota doesnt solve this problem, instead they require trust between each ones/nodes, requires to trust the peer and no peer is allowed to enter the network without being vetted - so any problem nodes, nodes which make their own branches and widen the DAG, are confined to small parts of the network, and they have centralized milestones to define what the mainline in their DAG is, a manual developer-ruled process.

Interesting how you called white "back" and back "white". Putting IOTA aside because it's an offtopic, I have a question:

Total order is established by selecting a single chain on the DAG (the main chain) that is attracted to units signed by known users called witnesses.

Who are these witnesses now?

[kaicrypzen]

I have a question:

Total order is established by selecting a single chain on the DAG (the main chain) that is attracted to units signed by known users called witnesses.

Who are these witnesses now?

The default witnesses' list contains witnesses run by Tony. His confirmation can be found in this post: https://bitcointalk.org/index.php?topic=1608859.msg17644269#msg17644269.

By the way, a one-witness difference is accepted, so you can replace one of those twelve by one of yours or of someone you trust.

[Come-from-Beyond]

I think I won't wait for SatoNatomato's response, it will likely contain only nonsense. I'll explain my concern right away:

Byteball uses witnesses. There are 2 ways to choose the witnesses:

1. They are picked by every user for himself
2. They are elected via global voting

If it's #1 then it becomes possible that some users are almost isolated from each other because they have only few common witnesses. #2 leads to a more serious problem which arises if a user is faced with more than 2 options (just google why it's a serious problem, there should be many links with mathematical proofs on impossibility of coming to a satisfying consensus). The problem of picking an option has already striked twice in the cryptoindustry. First it was Ripple/Stellar consensus flaw drama when Stellar admitted to have a flawed consensus while Ripple decided to make appearance they were fine (heh, they had enough money not to care about community opinion). The second time which I remember it was Factom drama, now I can't find the links, but in few words: they "sold" a flawed voting mechanism which was unfixable because they allowed more than 2 options.

So my concern is that cryptocoin developers don't take voting seriosly. I noticed this several years ago in Bitshares. Back then I was thinking that voting is easy, only after working with two professors (on two separate tasks) who were specializing in voting I got that it's all actually not that simple...