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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1227722 times)
Karartma1
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February 08, 2017, 07:23:10 AM
 #4481

Byteball so needs a legit exchange

No doubt it would help for sure.

It's only a matter of time!

Probably not, legit exchange might be waiting for complete distribution of all bytes which may take sometime.

I don't really think is a matter of finishing the distribution: with this reasoning mostly no coins should be on exchanges since even BTC is still far away from 21 million coins. I agree that is kind of interesting to see big exchanges still not onboard but I do believe they will jump on the train after the second round.
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tangleNinja
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February 08, 2017, 07:45:06 AM
 #4482

When will distribution be finished?
vlom
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February 08, 2017, 07:59:39 AM
 #4483

i would like to help more. but i need help.
is it possible to run a bb hub on a raspberry pi?
the instructions here https://github.com/byteball/byteball-hub are not enough for me.

how to for:
- Install node.js
- clone the repository

PolyPanto
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February 08, 2017, 08:17:17 AM
 #4484

Quote
Participation in Byteball distribution
The snapshots for the second round will be taken on the Full Moon of February, on February 11 at 00:33 UTC.  In this round, you receive:
- 62.5 MB for every 1 BTC of proven balance
- 0.1 new bytes for every 1 byte you own at the moment of the snapshot

Hello, can someone explain to be how many MB in 1 BYTE? I see everywhere how much MB for 1 BTC, but I didn't understand how many in 1 byte. Also, I saw in the transition list  there are 30 pages of  0 balance, so it confused me as I thought that distribution will be in % proportion from your BTC balance or I understood something wrong? Thanks
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February 08, 2017, 09:16:55 AM
 #4485

go to google and type in

Quote
1 MB = ? byte

or

Quote
1 byte = ? MB

google can pretty much convert everything into anything ( that makes sense )
PolyPanto
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February 08, 2017, 09:32:36 AM
 #4486

go to google and type in

Quote
1 MB = ? byte
or
Quote
1 byte = ? MB
google can pretty much convert everything into anything ( that makes sense )

Thank you for the fast reply, sorry but just to double check for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
SatoNatomato
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February 08, 2017, 09:35:25 AM
 #4487

Quote
Participation in Byteball distribution
The snapshots for the second round will be taken on the Full Moon of February, on February 11 at 00:33 UTC.  In this round, you receive:
- 62.5 MB for every 1 BTC of proven balance
- 0.1 new bytes for every 1 byte you own at the moment of the snapshot

Hello, can someone explain to be how many MB in 1 BYTE? I see everywhere how much MB for 1 BTC, but I didn't understand how many in 1 byte. Also, I saw in the transition list  there are 30 pages of  0 balance, so it confused me as I thought that distribution will be in % proportion from your BTC balance or I understood something wrong? Thanks
lol,

How do you type 1 million? Like 1 million dollars. How do you say 1 billion and 50 million dollars?

1 million, has 6 zeroes, like this. 1 000 000

1 billion has 9 zeroes, like this, 1 000 000 000

1 050 000 000 is 1 billion and 50 million bytes. Instead of saying/writing all those zeroes, you can use decimals, like 1.05GB.

1 byte is 1. Instead of saying million bytes we say megabytes, mega is scientific notation for million, and giga, for billion. 1 byte is almost useless as the transaction fee is usually around 540 bytes.

For 1BTC you will receive 62 500 000 bytes.
kaicrypzen
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February 08, 2017, 09:48:14 AM
 #4488

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?

For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.

For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).

What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.


kola-schaar
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February 08, 2017, 09:57:53 AM
 #4489

...anyone who does not connect his BTC must be totally stupid...
..
I admit that: The marked part is polemical  Smiley You are right it is a best-case scenario. I'm just an optimist.
To fairness one should then also name the worst-case scenario: ~20 rounds of distribution - some would also make this very happy.

Important for investments is that you can live with each scenario (the optimal never occurs anyway).

..
Truth is, you get a dividend of 0.5% as Bitcoin holder. If you were a whale with a million $ plus in BTC, would you really care and mess up your super secure cold wallets, just to get a 0.5% dividend?

My thoughts to it:
1.   Yes, it is a problem to move larger amounts of BTC. This can / will have a limiting effect.On the other hand, the ICOs reacted very flexibly.. Huh
2.     Well I hope very strongly that these People (super wales) stay away. But I also believe that these wales prefer to play golf. Wink
3.   This is true BTC makes for the moment only joy. The experience tells me however: If one thinks one is avant-garde one is usually already history Wink.
        The distribution offers a classic BTC holder a risk-free entry into the Altcoin market (my view).


And if you were a small fish with say 5 BTC, you would get a dividend in Byteball of 25$. 25$ is the daily volatility range of 1 BTC right now.
..

Everything is (maybe) true - but you get it additional without risk (if you are a holder). But maybe I understand you wrong. Your general reasoning is somehow so that it is not worth it. Better stay in bed, play golf or invest somewhere else..
Yes, you can do that too..

...
Let's call it what it is: Wide distribution plans via people linking their BTC are over. Now it is about pumping the value of Bytes via distribution to Byteholders. Nothing wrong with that. I think we just saw another example that a wide distribution cannot be achieved so easily. It would have been a lot better without ICO accounts in the first round. In hindsight the optimum would have been to cut out accounts with more than 250 BTC or so in the first round without announcing it previously (the shitstorm wouldnt have been so intense probably, but you gotta live with the fact that you started with a lie). And then distribute to byteholders for years from a multisig-wallet.

Perhaps it is so Roll Eyes, but I cannot judge. I think only in max / min scenarios (see the first statement) the space between is as unknown as the weather next fall.
Everyone appreciates things differently. This is good, otherwise it would not be fun (and not interesting).

Let's talk about this in December.. Smiley
PolyPanto
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February 08, 2017, 10:01:41 AM
 #4490

1 million, has 6 zeroes, like this. 1 000 000
1 billion has 9 zeroes, like this, 1 000 000 000
1 050 000 000 is 1 billion and 50 million bytes. Instead of saying/writing all those zeroes, you can use decimals, like 1.05GB.
1 byte is 1. Instead of saying million bytes we say megabytes, mega is scientific notation for million, and giga, for billion. 1 byte is almost useless as the transaction fee is usually around 540 bytes.
For 1BTC you will receive 62 500 000 bytes.

For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.
For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).
What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.

Thank you guys for the explanation, appreciate your time and assistance. Now I will know that for sure. I guess I will have more stupid questions later on  Roll Eyes and it's good that other members can help.  
kaicrypzen
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February 08, 2017, 10:02:31 AM
 #4491

is it possible to run a bb hub on a raspberry pi?

Probably (didn't try that myself), I'll advise you to go to Slack and ask in the channel #tech.

the instructions here https://github.com/byteball/byteball-hub are not enough for me.

how to for:
- Install node.js

Install the node.js package. For instance, on Ubuntu, the package is named nodejs, to install it:

Code:
apt-get install nodejs

I would assume the same goes for raspberrypi.

- clone the repository

Code:
git clone https://github.com/byteball/byteball-hub.git

Or click on clone or download and then download zip.

tangleNinja
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February 08, 2017, 10:23:02 AM
 #4492

go to google and type in

Quote
1 MB = ? byte
or
Quote
1 byte = ? MB
google can pretty much convert everything into anything ( that makes sense )

Thank you for the fast reply, sorry but just to double check for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?

For every one BTC you link you get 62.5 MB
For every 10 byte you already have you get 1 byte.
saywahtinteh
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February 08, 2017, 10:46:50 AM
 #4493

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.

For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).

What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.

So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.
superresistant
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February 08, 2017, 10:54:46 AM
Last edit: February 08, 2017, 11:05:53 AM by superresistant
 #4494

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.
For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).
What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.
So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.

If you need this amount of money, sell it right away. If you don't, just keep it and forget about it.

...anyone who does not connect his BTC must be totally stupid...
Truth is, you get a dividend of 0.5% as Bitcoin holder. If you were a whale with a million $ plus in BTC, would you really care and mess up your super secure cold wallets, just to get a 0.5% dividend?

True, that's exactly what all the Bitcoin whales that I know told me.
They don't want to mess up their cold wallet for a little dividend. Plus there are risks involving moving their BTC to a hot wallet, making transaction and installing a third party application they don't fully trust.
The risk/reward is not worth it for them.

Well I hope very strongly that these People (super wales) stay away. But I also believe that these wales prefer to play golf. Wink

I can tell they like to ski in French Alps at this time of the year.
kaicrypzen
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February 08, 2017, 10:58:25 AM
 #4495

So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct?

Let's say yes Smiley.

Quite a modest amount but perhaps it might be worth it.

What also might be worth it, would be to buy GB instead. Of course there's more risk involved as you would invest your BTC instead of just linking it.

SatoNatomato
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February 08, 2017, 11:01:06 AM
 #4496

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.

For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).

What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.

So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.
Indeed, you would have received 5*1.4 GBs=7GBs, which at todays price 0.08 would be worth 0.56BTC which is $582 if you had done this on the first round.

What you link now and if you keep the bytes, you will have 10% on the bytes, for every future round on all the bytes you hold, and the average BTC linked address ratio to bytes will change down.

If you have today 1GB, after 11 distribution rounds will grow to be 2.85GB.
SatoNatomato
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February 08, 2017, 11:02:28 AM
 #4497

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.
For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).
What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.
So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.

If you need this amount of money, sell it right away. If you don't, just keep it and forget about it.

...anyone who does not connect his BTC must be totally stupid...
Truth is, you get a dividend of 0.5% as Bitcoin holder. If you were a whale with a million $ plus in BTC, would you really care and mess up your super secure cold wallets, just to get a 0.5% dividend?

True, that's exactly what all the Bitcoin whales that I know told me.
They don't want to mess up their cold wallet for a little dividend. Plus there are risks involving moving their BTC to a hot wallet, making transaction and installing a third party application they don't fully trust.
The risk/reward is not worth it for them.

This is great to hear, more bytes for us small fish.  Cheesy
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February 08, 2017, 11:07:05 AM
 #4498

I turned off the witness I had running because it did not have enough funds to continue stamping transactions.  Cry

@tonych was this supposed to work this way, when running a witness, if other people dont choose it in their walets, it will eventually run out of funds to continue posting?
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February 08, 2017, 11:35:42 AM
 #4499

for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?
For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.
For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).
What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.
So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.

If you need this amount of money, sell it right away. If you don't, just keep it and forget about it.

...anyone who does not connect his BTC must be totally stupid...
Truth is, you get a dividend of 0.5% as Bitcoin holder. If you were a whale with a million $ plus in BTC, would you really care and mess up your super secure cold wallets, just to get a 0.5% dividend?

True, that's exactly what all the Bitcoin whales that I know told me.
They don't want to mess up their cold wallet for a little dividend. Plus there are risks involving moving their BTC to a hot wallet, making transaction and installing a third party application they don't fully trust.
The risk/reward is not worth it for them.

Well I hope very strongly that these People (super wales) stay away. But I also believe that these wales prefer to play golf. Wink

I can tell they like to ski in French Alps at this time of the year.


superrestiant, as an Nxt-Initial-Investor and IOTA-ICO-Investor, aren't you now a Bitcoin-Whale as well?
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February 08, 2017, 11:46:26 AM
 #4500

warning medium ot  Wink

I am writing this because this distribution is so incredibly interesting, but probably not everyone is aware of it (Besides, it is a treasure chest for sociologists, economists and marketing experts).
The second round is a good time for a retrospective and a look into the future.

Some history for the newcomer:
When tony started the distribution, he planned a distribution in 4 rounds (see above - a Big Bang with four steps).
1.   Round 10% -> 0,10 * 1E15 Bytes = 1E14 Bytes / 1E9 = 100000 GBytes
2.   Round 20%
3.   Round 30%
4.   Round 39% (1% reserved for future development)
Tony participates like everyone else with his BTC.

Tony's goal was / is a distribution with great spread.  He hoped (last year) that at the optimum 10% of BTC's capitalization would be linked ( 10% => 1600000 BTC = 1,6 billions Dollar)

The interest was however rather modest (70000 BTC -> 0,4 % of BTC's capitalization) . Genesis making by a Big Bang does not seem easy- people are so lazy .
As we can see here ( http://transition.byteball.org/firstround.html ), we were only a very small number of believers - ICOs., some Big, and a lot of small fishes  Grin

According to this result, there was the risk that some early adopters (big fishes) and the ICOs. would suck up all the bytes (like a black hole sucks all the matter by gravitation).
The first distribution scheme still provided a 1: 1 distribution of byte -> bytes. What would have further accelerated the process. Similar to matter, money unfortunately has the property of agglomerate very quickly (The byte to byte ratio controls the gravity in the distribution cosmos).

The newly created Byteball universe would have become dark, boring and desolate. Only inhabited by 3 black holes (the ICOs), two handful of suns/planets, moons, and some planetoids + dust . (However, there are enough coin universes of this kind Wink ).

Tony pulled the emergency brake:
There was a new (newbie friendly) distribution scheme. It slows the distribution radically to remain attractive to new users. It’s also a more altcoin holder friendly scheme ( gravity  set to 0.1 new bytes for every 1 byte you own at the moment of the snapshot-> people have more time to participate).
(new rules: https://bitcointalk.org/index.php?topic=1608859.3580 )

Now it becomes very interesting:
Due to the binding to BTC, the distribution of BTC with the BB distribution is repeated in a timelapse:

Before and right after the first round, Google Trends reported only inquiries from the US and Germany (and no-one else). Now (before the second round) Korea is the leader (since about 7 days), and the Netherlands +UK has joined. We are once around the world  (search google trends “Byteball” time: 7 days).
If you look at this video https://youtu.be/XFFvSYdKN78 you can estimate how the distribution (hopeful) continues.

Conclusion
The first thought was to carry out the distribution like a big bang in 4 steps. That did not quite work. Now, Byteball runs as a symbiont over the host BTC.
Will it work this way? I think yes, because anyone who does not connect his BTC must be totally stupid.  There is a classical win-win situation. Zero risk and one keeps the BTC only 24 hours a month (full moon) at an address.
Earlier or later, the insight should greatly gain ground at a lot btc owners and organizations.
This will be a very interesting year..


I enjoyed reading your post.
Imagine what happens if George Lucas stumbles upon it Smiley

Simplicity is beauty
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