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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1228056 times)
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February 19, 2017, 05:59:02 PM
 #5121

But a high risk is Bitcoin, if it goes down, users sell your free byteballs to save the worth.
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February 19, 2017, 06:08:47 PM
 #5122

But a high risk is Bitcoin, if it goes down, users sell your free byteballs to save the worth.

why is that?

if btc goes down → bb value (in btc units) will rise.

and that's all.

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February 19, 2017, 06:15:20 PM
 #5123

But a high risk is Bitcoin, if it goes down, users sell your free byteballs to save the worth.

why is that?

if btc goes down → bb value (in btc units) will rise.

and that's all.
no, byteball is to small and nobody trade byteball to hold in a Balance with bitcoin. If your guess true, byteball must be rising but see the Chart  Wink  and this is ok, ByteBall is a small new coin with free coins every month.
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February 19, 2017, 06:18:15 PM
 #5124

the transition bot does not answer me. does anybody know why this can happen?

i am using v.1.3.0 on OSX.
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February 19, 2017, 06:19:39 PM
 #5125

the transition bot does not answer me. does anybody know why this can happen?

i am using v.1.3.0 on OSX.

i've got the same...

maybe it's sunday.  Smiley

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February 19, 2017, 06:21:49 PM
 #5126

the transition bot does not answer me. does anybody know why this can happen?

i am using v.1.3.0 on OSX.

i've got the same...

maybe it's sunday.  Smiley

 Roll Eyes and trading is possible on sunday. because this bot is answering to my inputs.
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February 19, 2017, 06:39:17 PM
 #5127

Technical question about fees collected by witnesses. If witnesses collect fees from every transaction and they essentially have no cost to cover (other than meaningless hardware and bandwidth cost) ...
They have:
I turned off the witness I had running because it did not have enough funds to continue stamping transactions.  Cry
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February 19, 2017, 06:44:13 PM
 #5128

Technical question about fees collected by witnesses. If witnesses collect fees from every transaction and they essentially have no cost to cover (other than meaningless hardware and bandwidth cost) ...
They have:
I turned off the witness I had running because it did not have enough funds to continue stamping transactions.  Cry

You must be kidding:

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?

Yes, if your witness is not supported, it is bleeding capital.

That means if witness is supported it is not "bleeding capital". It collects fees without any meaningful cost.

Chancellor on brink of second bailout for banks
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February 19, 2017, 06:50:43 PM
 #5129

Technical question about fees collected by witnesses. If witnesses collect fees from every transaction and they essentially have no cost to cover (other than meaningless hardware and bandwidth cost) ...
They have:
I turned off the witness I had running because it did not have enough funds to continue stamping transactions.  Cry
It is still a valid question, my witness wasnt picked by the community so it was loosing bytes.

Id say the users have a choice, if a witness accumulated too much bytes, replace it, like eith portabellas witness which wants to spread the fees to nonprofit organizations. Maybe users will pick those witnesses and avoid making "too big to fail" witnesses.
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February 19, 2017, 06:54:46 PM
 #5130

The price is on a support.
It's time to refuel

I'm waiting for that support to break, maybe I'll wait forever, maybe not Smiley. Any reason(s) why (you think) that support might have more chances to hold than to break?
Buying pressure for the next distribution round and by the way no failure from the dev, I see only excellent work. See other projects with a lot of wasted time, huge bugs, ico scam's, no scalability etc. we have a working Software for all plattforms, a chat exchange, free coins, micropayment, smart contract, blackbytes ...

Free coins, yes, a few minutes or maybe an hour of work to obtain them. No ICO, no need to invest any money really, just link 100 BTC and you'll get 6+ BTC for free (using 0.06+ BTC/GBYTE exchange rate). So out of nowhere one have made 6+ BTC from a coin which has 60,000+ BTC marketcap which puts it at top 9 spot on the cryptocoins list. A coin which paradoxicaly is traded just at unknown and seemingly secure exchange which will go bust possibly in a week or a month or as soon as some major exchange adds Byteball. On top of it we are dealing with brand new and very little battle-tested code which for me reads as "The next major (app-breaking) bug is just around the corner".

You guys might be new around here or at trading space or both but I am not so I have sold my coins, thanks for free money! I'll probably jump back once price hits more reasonable levels.

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February 19, 2017, 07:04:57 PM
Last edit: February 19, 2017, 07:16:39 PM by Krypt
 #5131

You must be kidding: ...
I am not, I am sure that witness pays fees:
One way to become a witness is as follows:
1.  Run the witness code on your server https://github.com/byteball/byteball-witness.  To be considered seriously, you need to run it on a server that is well connected and always online.  Running this code alone won't make you a witness automatically, you'll just periodically post your units to the database (and spend your bytes by doing this).
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February 19, 2017, 07:18:21 PM
 #5132

You must be kidding: ...
I am not, I am sure that witness pays fees:
One way to become a witness is as follows:
1.  Run the witness code on your server https://github.com/byteball/byteball-witness.  To be considered seriously, you need to run it on a server that is well connected and always online.  Running this code alone won't make you a witness automatically, you'll just periodically post your units to the database (and spend your bytes by doing this).

This is when you try to be witness. Once you are witness included in the 12 witness list you don't spend you bytes doing this. Stop spreading misinformation.

Chancellor on brink of second bailout for banks
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February 19, 2017, 07:39:47 PM
 #5133

Witnesses do not decide ordering of units.  Ordering is determined by the algorithm that looks back at the witnesses-authored units in the DAG.

What TPS limit do you expect to see in the real world (order of magnitude)?

You know, there is no architectural limit in the DAGs.
Regarding the practical limits, I don't buy into this race to Visa tps.  The most pressing issue of crypto is not tps, it is adoption (which we address in the first place).  Tps will come second after the first is solved.
I'm an adopter. I buy into this. What is currect [practical] TPS limit for Byteball?
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February 19, 2017, 08:35:10 PM
 #5134



Thx for the info, can you elaborate (a bit) please on how you calculate those probabilities?


In the book "le chartisme" of François Baron
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February 19, 2017, 08:58:29 PM
 #5135

You must be kidding: ...
I am not, I am sure that witness pays fees:
One way to become a witness is as follows:
1.  Run the witness code on your server https://github.com/byteball/byteball-witness.  To be considered seriously, you need to run it on a server that is well connected and always online.  Running this code alone won't make you a witness automatically, you'll just periodically post your units to the database (and spend your bytes by doing this).

This is when you try to be witness. Once you are witness included in the 12 witness list you don't spend you bytes doing this. Stop spreading misinformation.

AFAIK, witness needs to submit transactions all the time to confirm user's transactions and he pays tx fees. If payment he receives is larger that fees he pays, good for him.

Witnesses will never accumulate all bytes, because if users have no bytes, they can't submit transactions, hence no fees go to witnesses, therefore it is in their interests to sell some bytes on the market.

.
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February 19, 2017, 09:43:48 PM
 #5136

Byteballs needs more marketing to get more people in on every distribution rounds. Community should organize some kind of campaign.

There were a few signature campaigns, the last of which ended recently.

https://bitcointalk.org/index.php?topic=1760807.0

If enough people contribute coins for another there would be plenty of sign ups to it. Getting enough coins to pay for it is the big problem.

Is there a community donation fund for such purpose ?
Maybe we should create a Bot in the Wallet where we can offer apps/projects or marketing campaign which needs some donation of the community.

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February 19, 2017, 10:01:43 PM
 #5137

You must be kidding: ...
I am not, I am sure that witness pays fees:
One way to become a witness is as follows:
1.  Run the witness code on your server https://github.com/byteball/byteball-witness.  To be considered seriously, you need to run it on a server that is well connected and always online.  Running this code alone won't make you a witness automatically, you'll just periodically post your units to the database (and spend your bytes by doing this).

This is when you try to be witness. Once you are witness included in the 12 witness list you don't spend you bytes doing this. Stop spreading misinformation.
You always spend, but if you are chosen by many you would earn more.
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February 19, 2017, 10:20:08 PM
 #5138

Witnesses do not decide ordering of units.  Ordering is determined by the algorithm that looks back at the witnesses-authored units in the DAG.

What TPS limit do you expect to see in the real world (order of magnitude)?

You know, there is no architectural limit in the DAGs.
Regarding the practical limits, I don't buy into this race to Visa tps.  The most pressing issue of crypto is not tps, it is adoption (which we address in the first place).  Tps will come second after the first is solved.
I'm an adopter. I buy into this. What is currect [practical] TPS limit for Byteball?
My tests with a developer-installation showed 25 transactions per second in one VM with 2 cores and 1gb memory. I could add more VMs or full nodes, to get about 20ish more tps, it scales with number of full nodes.

Networking is no bottleneck, bandwidth nor latency, barely used. Only cpu usage was high but not even all cores at once, about 60% cpu load on 1 core. Which tells me the software isnt optimized but can push the hardware much, much more, I wouldnt be surprised if 1 full node can do 200 tps with 2 cores if software is slighly optimized. Even today if we had same amount of full nodes as bitcoin, 1600ish, low ball it as I have fat servers, 10tps, thats 16 000tps.
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February 19, 2017, 11:01:47 PM
 #5139

My first byteball-hub running on raspberry pi Grin

https://zuqka.asuscomm.com/bb

nxt: NXT-2V7G-C8BY-KTYY-CAHNU * btc: 19UcQHepGvXb2fDcAMBJo1a3iduqBNXaGw * byte: XJBP46RQ7OZ6KKY4IXKL73VQBDKRIYJ4
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February 19, 2017, 11:13:03 PM
 #5140

Byteballs needs more marketing to get more people in on every distribution rounds. Community should organize some kind of campaign.

There were a few signature campaigns, the last of which ended recently.

https://bitcointalk.org/index.php?topic=1760807.0

If enough people contribute coins for another there would be plenty of sign ups to it. Getting enough coins to pay for it is the big problem.

Is there a community donation fund for such purpose ?
Maybe we should create a Bot in the Wallet where we can offer apps/projects or marketing campaign which needs some donation of the community.

I can't find one mentioned in the OP and I haven't noticed one mentioned in this thread, although I haven't read every page. Creating a donation Bot in the Wallet is a good idea.
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