Obyte: Totally new consensus algorithm + private untraceable payments

[ArabMist]

Can someone kindly link me to the page that details future distribution dates at least for the next year and also percentage of total that will be given out.

Many thanks in advance.

[escapefrom3dom]

Can someone kindly link me to the page that details future distribution dates at least for the next year and also percentage of total that will be given out.

Many thanks in advance.

better check the main web https://byteball.org/ for such info.

[HomoHenning]

why there is no real exchange right now? is this coin a scam?

cryptox.pl ......... no this no scam or shit alt coin

this is not a serious exchange yet where I would trade soory. why not on bittrex or polo? 10 million market cap now....

[SatoNatomato]

why there is no real exchange right now? is this coin a scam?

cryptox.pl ......... no this no scam or shit alt coin

this is not a serious exchange yet where I would trade soory. why not on bittrex or polo? 10 million market cap now....

Give it a chance.

Otherwise you can try the trading bot in the Byteball wallet.

[HomoHenning]

why there is no real exchange right now? is this coin a scam?

This coin is based on completely new technology, which makes it a bit harder for the exchanges to list it, as they have to integrate the new stuff they don't have currently.

As per scam... well, scam coins are explicitly created for dumpingtrading, so typically they have all kinds of exchanges instantly!! .

I understand . But why a small exchange can do it and polo cant do it. makes no sense...

[davidoski]

why there is no real exchange right now? is this coin a scam?

This coin is based on completely new technology, which makes it a bit harder for the exchanges to list it, as they have to integrate the new stuff they don't have currently.

As per scam... well, scam coins are explicitly created for dumpingtrading, so typically they have all kinds of exchanges instantly!! .

I understand . But why a small exchange can do it and polo cant do it. makes no sense...

We don't run Polo exchange to answer your question. Ask Polo operators.

[str4wm4n]

The longer it stays off big exchanges the longer I can accumulate at low prices.

SHHHH!!!!

[oriolpont]

The distribution model encourages holding, month to month, so I expect to see the price steadily increase.

Not really. New issuance is fully proportional, so it is actually debasement. Because of this, no value changes hands and, rationally, the market cap should stay the same.

There is an additional issuance to BTC holders too, but it is too small to be relevant.

[Ha5hedout]

Can i use blockchain.info to verify my address because the address that has been verified is not my original one and has a zero balance? Also can i go through the process again without  issues or should i generate a new address?

[escapefrom3dom]

Can i use blockchain.info to verify my address because the address that has been verified is not my original one and has a zero balance? Also can i go through the process again without  issues or should i generate a new address?

verify ur btc address within ur btc wallet (receiving addresses).

and then – check the connection on http://transition.byteball.org/

[Ha5hedout]

Can i use blockchain.info to verify my address because the address that has been verified is not my original one and has a zero balance? Also can i go through the process again without  issues or should i generate a new address?

verify ur btc address within ur btc wallet (receiving addresses).

and then – check the connection on http://transition.byteball.org/

Thanks for the reply, Yeah i checked, my receiving address isnt there but that address that has been confirmed is?

[somogyipeti]

Will be here another distribution?

[stkuser1]

Version 1.2.0 is released https://github.com/byteball/byteball/releases.
It includes ability to partially recover from seed:

https://i.imgur.com/ntvfzQq.png

As was said before, the seed doesn't allow to recover blackbytes because they are not stored on the public database.
Recovery works only in full wallets because it scans the local copy of the database for addresses generated from the seed.

To restore your bytes (but not blackbytes) from seed, you will need to download the wallet, choose "Full wallet", wait that it syncs and then go to the Recovery menu in Settings.

Also, a number of small bugs fixed in this release.

Great Work! Will give it a try:)

[kaicrypzen]

Can i use blockchain.info to verify my address because the address that has been verified is not my original one and has a zero balance? Also can i go through the process again without  issues or should i generate a new address?

verify ur btc address within ur btc wallet (receiving addresses).

and then – check the connection on http://transition.byteball.org/

Thanks for the reply, Yeah i checked, my receiving address isnt there but that address that has been confirmed is?

Do you mean you linked a bitcoin address that isn't yours? Anyway, you can link another bitcoin address to the same byteball address or to another. Also, remember that when you link by doing a micropayment, your funds are very likely to be transferred to a change address (which is under your control) and that you might have to send your funds back to your original linked address. Always make sure the linked Bitcoin address is yours before sending anything to it.

[kaicrypzen]

Will be here another distribution?

There will be plenty . The next distribution will take place on February the 11^th. Take a look at the opening post for details about the next and following rounds of distribution.

[tonych]

Hi tonych,

Shower thought (almost certainly a stupid one as always happens when you don't exert deep thinking, as I haven't finished reading the white paper, and have no time right now to research feasibility):

Would it be possible to optionally (because it changes somewhat the privacy/anonymity model) save assets (including blackbytes) in the public DAG as a compressed and encrypted payload (not much differently of what is saved locally today) paying due commissions?
Maybe we could now use a different seed for each asset to generate private keys for them and some hash of these to encrypt assets payload after each transaction.
Wallets would scan the DAG trying to decrypt asset payloads to get balance and history (some optimizations may apply).
Somehow old saved payloads in the DAG could be pruned as assets carry their own history.

Pro:
- Massive improvement in usability, no need to back-up local assets after each transaction (simplicity is beauty).
Cons:
- Privacy model changes (thus to use it optionally) as now assets history only remains private as long as no one discover a way to decrypt the payload which is now publicly available.
- Increased storage requisites for the DAG (but it'd be optional and has costs)

If it were possible, users would have to store huge numbers of decryption keys because every payload has to be encrypted with its own key. 

The idea was to generate those encryption keys from the random generated seed.  When you need a random address for bytes you calculate/generate it from the seed.  Encryption keys could be generated from a seed too (one seed for each asset class maybe for security reasons, i.e. one for blackbytes, other for asset X and etc.). If they are generated from a seed, only the seed need to be saved (one time operation).
If you already generate private keys from a seed for each non spended asset (I don't really know), you could generate encryption keys from those pks by calculating some hash from them, not needing an extra seed only for the encryption keys.

I assume you are not suggesting system-wide seed which would then be known by everybody
If the seeds are per user, the problem remains.  A user can encrypt his own transactions but he has to also store and forward (when sending balckbytes) the coin histories which include previous transactions created by other users.  Then he has to know the keys that these previous owners used to encrypt their private payloads, and the number of these keys is as large as the number of previous owners of each coin.

The best solution of the backup problem is imho multisig.

Yes, this works but maybe not for all scenarios.
For high values and strict security models of some institutions (for instance, cold wallets) it's hard to imagine that your back-up depend on many devices on-line syncing between them. If the other idea works (which is unlikely cause it must have any number of flaws), only the seeds would need to be backed-up.

I see your point.  I'm suggesting multisig for hot wallets as used by regular users, it allows to avoid the pain of having to backup after each transaction.
When you use cold wallets, I assume that convenience is not your primary concern and the transactions are rare, in this case having to backup after each transaction is not such a big issue compared with other steps you have to do to unlock the cold wallet.

Note that you can split the backup into two parts: the seed, which is small and can be stored on paper wallet, and the private payloads stored in the sqlite database.  Even if the private payloads are stolen, they cannot be used without the seed, hence your privacy might be affected but the security is not compromised.

[Ha5hedout]

Can i use blockchain.info to verify my address because the address that has been verified is not my original one and has a zero balance? Also can i go through the process again without  issues or should i generate a new address?

verify ur btc address within ur btc wallet (receiving addresses).

and then – check the connection on http://transition.byteball.org/

Thanks for the reply, Yeah i checked, my receiving address isnt there but that address that has been confirmed is?

Do you mean you linked a bitcoin address that isn't yours? Anyway, you can link another bitcoin address to the same byteball address or to another. Also, remember that when you link by doing a micropayment, your funds are very likely to be transferred to a change address (which is under your control) and that you might have to send your funds back to your original linked address. Always make sure the linked Bitcoin address is yours before sending anything to it.

Do blockchain.info use one time addresses (That might not be the right terminology) for privacy now i am not up to date? I will try with uphold.

[tonych]

why does the OS X app try to connect to google?

plus.google.com TCP-Port 443 (https)

What makes you think so?
There are no references to any sites (except the default hub) in the source code.

[tonych]

Will there be a way to backup private assets via a seed in the future?

I love paper wallets and it's a shame I can't make one for Blackbytes!

Impossible by design.  Too much information to fit on piece of paper.

[ttookk]

Will there be a way to backup private assets via a seed in the future?

I love paper wallets and it's a shame I can't make one for Blackbytes!

Impossible by design.  Too much information to fit on piece of paper.

How much data are we talking about?

If you can store the right amount of data on a blockchain/DAG, you can store an encrypted backup there. Then, all you'd need would be
a) the passphrase/seed to decrypt the data
b) some means to find the relevant data on the blockchain/DAG.

You wouldn't need a dedicated function for it, you could do it on your own. You could store it on some other blockchain as well, if you'd want to.

Obviously, you'd have to pay for the transaction when storing data, so this would probably be only suitable for long term holding.