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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1219091 times)
anderson705
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February 12, 2017, 12:33:39 AM
 #4861

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..


btw Dev, you should ask this man to be your advisor, he is so good.
to have him by your side you could achieve your goals more easy. and to make sure that our universe is safe and sound, which included our black and white
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str4wm4n
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February 12, 2017, 12:39:14 AM
 #4862

I have submitted a request to Coinmarketcap.com to increase the Available Supply number to

117,610.194028342 GB, as confirmed by tonych.

Perhaps others could do the same as well to speed up the process.
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February 12, 2017, 12:41:00 AM
 #4863

Version 1.3 released https://github.com/byteball/byteball/releases.
It includes TOR support in desktop wallets:
.....

Also fixes the recently discovered bug that caused full wallets to crash with error "empty array in query params".

Other new features:
* Ability to re-send blackbytes in case they were not delivered
* If unit is set to GB, MB, GBB, etc, amounts are now shown with decimals


I alway have "Error connecting TOR" message when trying to switch TOR on on linux. What can be the problem?

.
str4wm4n
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February 12, 2017, 12:47:58 AM
 #4864

Version 1.3 released https://github.com/byteball/byteball/releases.
It includes TOR support in desktop wallets:
.....

Also fixes the recently discovered bug that caused full wallets to crash with error "empty array in query params".

Other new features:
* Ability to re-send blackbytes in case they were not delivered
* If unit is set to GB, MB, GBB, etc, amounts are now shown with decimals


I alway have "Error connecting TOR" message when trying to switch TOR on on linux. What can be the problem?


Do you have the TOR browser open and connected? It's required to be open to use byteball with tor.
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February 12, 2017, 12:51:30 AM
 #4865

Version 1.3 released https://github.com/byteball/byteball/releases.
It includes TOR support in desktop wallets:
.....

Also fixes the recently discovered bug that caused full wallets to crash with error "empty array in query params".

Other new features:
* Ability to re-send blackbytes in case they were not delivered
* If unit is set to GB, MB, GBB, etc, amounts are now shown with decimals


I alway have "Error connecting TOR" message when trying to switch TOR on on linux. What can be the problem?


Do you have the TOR browser open and connected? It's required to be open to use byteball with tor.

Ah, I see. Thanks.

.
freezal
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February 12, 2017, 01:03:01 AM
 #4866

The second round is now complete, bytes and blackbytes distributed.

Here are the exact numbers:

17,610.194028342 GB distributed (1.76% of total supply, +17.6% to the previous available supply).
New available supply: 117,610.194028342 GB.

86,658.346197160 GB were on linked addresses at snapshot time and eligible for receiving blackbytes.
37,176.880613233 new GBB (gigablackbytes) in circulation, out of which:
34,360.309831321 GBB distributed,
2,816.570781912 GBB go into the development fund.

Thank you everyone who participated, special thanks to those who supported our new community members and made their experience as smooth as possible, thank you the Transition Bot.

The next round is scheduled for the full moon of March (12 March 14:54 UTC), the conditions are exactly the same as in the 2nd round.

Meanwhile, we continue developing the Byteball ecosystem to bring the power of crypto to regular users.

Could someone who knows how please ask https://coinmarketcap.com to increase Available Supply from 100,000 GBYTE to 117,610.194028342  GBYTE?
I think this will bring more visibility to byteball as market cap will increase.
BTCspace
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February 12, 2017, 03:04:57 AM
 #4867

New available supply: 117,610.194028342 GB.


we need an API to show available supply.

Byteball will back to 10M marketcap in 12 days.

running farm worldwide
BTCspace
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February 12, 2017, 03:09:37 AM
 #4868

N5M2V4ZV3GWBRIGPHKOIVFI54UHDDDGC

got my new byteball and also blackbyte.

https://explorer.byteball.org/#N5M2V4ZV3GWBRIGPHKOIVFI54UHDDDGC

that's 1113GB now. i will not sell any until byteball become a top10 coin.

running farm worldwide
CryptoBjorn
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February 12, 2017, 03:14:23 AM
 #4869

Too bad i was to late to read the thread about the second round of distribution. Will do my best to be there when the third round starts. Hope I am not too late to the party though
Byteball is going up faaaasssst...
cybterpunk
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February 12, 2017, 03:15:26 AM
 #4870

Total balance linked: 102774.30223170 BTC * Transition rate: 0.0625 gigabyte/BTC=6423GB  will be distributed.
last round byteball 100000GB, equal to 160000BTC, 160000BTC*0.0625GB/BTC=10000GB will be distributed

so this round about 16000GB will be distributed, that's like 1.6% will be distributed in the second round. about 116000GB after second distribution


in the third round, the total byteball will be 116000 GB in circulation, and will get another 116000GB + bitcoin's new GB (maybe another 8000GB)

so 20000GB in Byte in 3rd distribution, so totally will be 132000GB after the third round distribution

the inflation rate maybe 2%-9% per 15 days in different round...

so my estimation is it will take 10 times-20 times to distribute all the left byteball, that means it will take about less one year to distribute all byteball.

seems my estimate is right..

all we need to do is more promotions to ask all bitcoin whales link their bitcoin address.

then maybe 10 times (5 months), all byteball will be distributed.

Also we need a big exchange platform too.
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February 12, 2017, 03:18:41 AM
 #4871

The second round is now complete, bytes and blackbytes distributed.

Here are the exact numbers:

17,610.194028342 GB distributed (1.76% of total supply, +17.6% to the previous available supply).
New available supply: 117,610.194028342 GB.

86,658.346197160 GB were on linked addresses at snapshot time and eligible for receiving blackbytes.
37,176.880613233 new GBB (gigablackbytes) in circulation, out of which:
34,360.309831321 GBB distributed,
2,816.570781912 GBB go into the development fund.

Thank you everyone who participated, special thanks to those who supported our new community members and made their experience as smooth as possible, thank you the Transition Bot.

The next round is scheduled for the full moon of March (12 March 14:54 UTC), the conditions are exactly the same as in the 2nd round.

Meanwhile, we continue developing the Byteball ecosystem to bring the power of crypto to regular users.

the  balance  of  cryptox has  nothing  change
valley365
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February 12, 2017, 04:18:24 AM
 #4872

The second round is now complete, bytes and blackbytes distributed.

Here are the exact numbers:

17,610.194028342 GB distributed (1.76% of total supply, +17.6% to the previous available supply).
New available supply: 117,610.194028342 GB.

86,658.346197160 GB were on linked addresses at snapshot time and eligible for receiving blackbytes.
37,176.880613233 new GBB (gigablackbytes) in circulation, out of which:
34,360.309831321 GBB distributed,
2,816.570781912 GBB go into the development fund.

Thank you everyone who participated, special thanks to those who supported our new community members and made their experience as smooth as possible, thank you the Transition Bot.

The next round is scheduled for the full moon of March (12 March 14:54 UTC), the conditions are exactly the same as in the 2nd round.

Meanwhile, we continue developing the Byteball ecosystem to bring the power of crypto to regular users.

So 2nd round distribution only 1.76 + 1.76 = 3.52%, as compared to 10% the first round. This way it will take 20+ more rounds to distribute all the byteballs, looks a pretty slow distribution...
davidoski
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February 12, 2017, 06:24:24 AM
 #4873

The slower the better.

Chancellor on brink of second bailout for banks
ja23
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February 12, 2017, 06:43:47 AM
 #4874

What? The distribution happened again? I thought it was going to be later today, the 12th.

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DeepOnion
.Anonymous and Untraceable.
ANN  Whitepaper  Facebook  Twitter  Telegram  Discord 





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February 12, 2017, 06:53:27 AM
 #4875


Cant login

Contact the team administrator for an invitation


Get your slack invite here: http://slack.byteball.org/

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
ArabMist
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February 12, 2017, 10:13:16 AM
 #4876

Anyone already got their GByte? Mine haven't "arrived" yet.: \

It might take an hour after the snapshot to get them.
Eight hours later my question again: Did anyone receive their Bytes? I haven't. Now updated to 1.3.0, transitionbot still shows that everything is correctly linked. But no Bytes received so far.

Why are so many people always so impatient? Do you want to dump the coins immediately?

Of course man, what are free coins for? Hodl?  Grin

You do realize the price will be back higher than 0.1 in under 3 weeks? Simple maths + network effect.

Approaching 0.08 after 24 hours so yes HODL  Grin
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February 12, 2017, 10:22:29 AM
 #4877

byteball will be up and down until distribution is over. just use this time to trade to increase balance
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February 12, 2017, 10:24:32 AM
 #4878

i will not sell any until byteball become a top10 coin.

You do have a lot: you could always start selling in batches so that people buy cheap. Don't be a greedy cat until you wait for top ten and then you dump your whole bag   Cool



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kaicrypzen
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February 12, 2017, 10:30:46 AM
 #4879

So 2nd round distribution only 1.76 + 1.76 = 3.52%, as compared to 10% the first round. This way it will take 20+ more rounds to distribute all the byteballs, looks a pretty slow distribution...

It was only 1.76%: 1.76% of the total supply, which is 17.6% of the available supply (bytes in circulation from the first round). Now we have 11.76% of the total supply in circulation.

We don't know how many bitcoins will be linked in the future and how the weight of bytes will exactly evolve (it's supposed to be more and more relatively to bitcoin) and the rules might completely change after the 3rd round, who knows. In my opinion, a slow distribution gives time for more people to join in, and for users/devs to develop applications around bytes and blackbytes before all the supply is available.

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February 12, 2017, 10:31:25 AM
 #4880

i will not sell any until byteball become a top10 coin.

You do have a lot: you could always start selling in batches so that people buy cheap. Don't be a greedy cat until you wait for top ten and then you dump your whole bag   Cool




when is 3rd distribution
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