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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1222695 times)
kaicrypzen
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February 28, 2017, 10:37:25 AM
 #5361

The third snapshot distribution will be starting very soon?

Yes, the snapshots for the third round will be taken on March the 12th at 14:54 UTC (full moon time).

Rumor has it all the Lisk guys will get some free byteballs  Shocked  dont know if its true though, will have to wait and see  Grin

What do you refer to? Lisk CEO linked his ICO address link to the byteball for first distribution, IMO they will try again, no doubt.

tuvok007 probably means that there's a rumor about people holding Lisk getting shares of the bytes that were/will be distributed to the Lisk ICO fund. (didn't hear such rumors though, maybe a link to the rumor?)

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February 28, 2017, 10:40:03 AM
 #5362

hehe, a lot of GByte to dump again. free money for such guys.  Tongue
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February 28, 2017, 10:56:24 AM
 #5363

How much hdd space do I need to download full DAG today? Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
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February 28, 2017, 11:03:41 AM
 #5364

How much hdd space do I need to download full DAG today? Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
around 1GB atm
kaicrypzen
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February 28, 2017, 11:06:34 AM
 #5365

I use the computer office, certainly can not download Windows wallet: https://byteball.org/downloads/Byteball-win64.exe, is here available for web wallet?

Why not Grin? Do you have an Android smart phone? In that case you could download the app from Google Play and use it. (There is no web wallet.)

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February 28, 2017, 01:02:35 PM
 #5366

Rumor has it all the Lisk guys will get some free byteballs  Shocked  dont know if its true though, will have to wait and see  Grin

Lisk team linked their BTC wallet to Byteball wallet and are entitled to their own percentage of the coin but what I don't know is if Lisk investors are going to share in that spoil.
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February 28, 2017, 01:11:33 PM
 #5367

Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
Please read the OP:
The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.
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February 28, 2017, 01:19:50 PM
 #5368

Rumor has it all the Lisk guys will get some free byteballs  Shocked  dont know if its true though, will have to wait and see  Grin

Lisk team linked their BTC wallet to Byteball wallet and are entitled to their own percentage of the coin but what I don't know is if Lisk investors are going to share in that spoil.


So far there are no exact plans. Lisk and Iconomi have agreed to do nothing until the end of the Byteball distribution.
But maybe they distribute them to their holders after that? No one knows precisely now.


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February 28, 2017, 03:35:57 PM
 #5369

So far there are no exact plans. Lisk and Iconomi have agreed to do nothing until the end of the Byteball distribution.
But maybe they distribute them to their holders after that? No one knows precisely now.

Lisk will sell the bytes and keep the BTC, because at that point Lisk will most likely be dead.
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February 28, 2017, 07:04:31 PM
 #5370

Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
Please read the OP:
The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.

So what? With a fee of 50$ someone can make DAG twice as big overnight? With a fee 500$ can make it 10 gb more? There is people who can do this just for fun. Is there some prunning mechanism what will allow to cut old transactions from database?
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February 28, 2017, 10:07:49 PM
 #5371

GBYTE crashing hard. Down to 0.5. As soon as it hits 0.45, might be a good entry point for those looking to accumulate for the long game.
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February 28, 2017, 10:41:47 PM
 #5372

Rumor has it all the Lisk guys will get some free byteballs  Shocked  dont know if its true though, will have to wait and see  Grin

Lisk team linked their BTC wallet to Byteball wallet and are entitled to their own percentage of the coin but what I don't know is if Lisk investors are going to share in that spoil.


So far there are no exact plans. Lisk and Iconomi have agreed to do nothing until the end of the Byteball distribution.
But maybe they distribute them to their holders after that? No one knows precisely now.




I don't think Lisk agreed to do nothing until the end of the Byteball distribution. The last LiskHQ post I could find concerning Byteball is below. LiskHQ says they are currently discussing with Tony the details of a plan, but I couldn't find any promise to do nothing until the end of the distribution. The quote says expect some news in February, but there's been none in the Lisk thread.


Is there at the moment any offical statement how Lisk will proceed with the earned Byteball amount?
Are there also some numbers available how many Byteball Lisk controlls at the moment?

Many thanks in advance!

The statement so far: for on-going operations and long-term storage.
But I think Max will comment on it in the near future.

On December 31, Lisk published the Financial Report 2016.
There you can find all the details about the financial resources of Lisk, including Byteball.

Thanks Poly, as always!

We won't dump them. I think we found a very fair method for everyone, currently discussing with Tony the details. After that we need to find a legal framework with our lawyers. Expect some news in February.
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March 01, 2017, 02:00:37 AM
 #5373

Where can I learn the wallet recovery procedure?
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March 01, 2017, 05:42:55 AM
 #5374

Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
Please read the OP:
The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.

So what? With a fee of 50$ someone can make DAG twice as big overnight? With a fee 500$ can make it 10 gb more? There is people who can do this just for fun. Is there some prunning mechanism what will allow to cut old transactions from database?
There isn't. I'm pointing this out for a long time but nobody is listening. Byteball has the same scalability problem like any other blockchain with adjustable blocksize limit. Database grows indefinitely and hardware and bandwith are the limiting factors. Moreover if somebody wants to attack byteball by sending huge data to the database it''s pretty easy and cheap at the current price. 8 years old Bitcoin blockchain nears 100 GB and you can make byteball database that big in 1 day for just $6700.

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March 01, 2017, 07:10:34 AM
 #5375

Where can I learn the wallet recovery procedure?

If you have a backup from version 1.4.0 of the wallet, there is nothing to learn. You restore from the backup file and your wallet content will be overwritten with the content from the backup.

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
kamiyama
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March 01, 2017, 07:47:57 AM
 #5376

Where can I learn the wallet recovery procedure?

If you have a backup from version 1.4.0 of the wallet, there is nothing to learn. You restore from the backup file and your wallet content will be overwritten with the content from the backup.

I feel like I really learned something today. You're awesome!
escapefrom3dom
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March 01, 2017, 08:51:05 AM
 #5377

Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
Please read the OP:
The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.

So what? With a fee of 50$ someone can make DAG twice as big overnight? With a fee 500$ can make it 10 gb more? There is people who can do this just for fun. Is there some prunning mechanism what will allow to cut old transactions from database?
There isn't. I'm pointing this out for a long time but nobody is listening. Byteball has the same scalability problem like any other blockchain with adjustable blocksize limit. Database grows indefinitely and hardware and bandwith are the limiting factors. Moreover if somebody wants to attack byteball by sending huge data to the database it''s pretty easy and cheap at the current price. 8 years old Bitcoin blockchain nears 100 GB and you can make byteball database that big in 1 day for just $6700.

we definitely need an explanation from dev about it.

SatoNatomato
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March 01, 2017, 09:29:24 AM
 #5378

Is DAG somehow limited in size, or someone can make billions of transactions and bloat it?
Please read the OP:
The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If the size of your transaction data is 500 bytes, you pay exactly 500 bytes (the native currency of Byteball) in fees.

So what? With a fee of 50$ someone can make DAG twice as big overnight? With a fee 500$ can make it 10 gb more? There is people who can do this just for fun. Is there some prunning mechanism what will allow to cut old transactions from database?
There isn't. I'm pointing this out for a long time but nobody is listening. Byteball has the same scalability problem like any other blockchain with adjustable blocksize limit. Database grows indefinitely and hardware and bandwith are the limiting factors. Moreover if somebody wants to attack byteball by sending huge data to the database it''s pretty easy and cheap at the current price. 8 years old Bitcoin blockchain nears 100 GB and you can make byteball database that big in 1 day for just $6700.

we definitely need an explanation from dev about it.
I dont think the problem exists today, of too fast growth too big load on nodes, hence low priority task. 100GB for bitcoin database is small anyway, compare with how much storage a random bank requires to run its business? Byteball database does grow fast, it can compress well, there can be other implementations to make it even smaller.

It is true the price to add shit to the database to make it grow even more is small compared to how much load/wasted-space it will cause on hubs and full wallets today, but the price is expected to rise and make such attacks more costly. I guess, even today the price is 6700 but still those 6700 are more worth for something else than to attack Byteball.

Come-from-Beyond
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March 01, 2017, 10:25:50 AM
 #5379

Byteball database does grow fast, it can compress well, there can be other implementations to make it even smaller.

Text is compressed much better than JPG photos. And you can't compress below some threshold if you use lossless compression. Maybe read basics of https://en.wikipedia.org/wiki/Information_theory before posting misleading "information"?
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March 01, 2017, 10:28:22 AM
 #5380

I was late for the 1st and 2nd airdrop, but I'll get my precious bytes this time!
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