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Author Topic: BYTEBALL: Totally new consensus algorithm + private untraceable payments  (Read 906458 times)
tonych
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October 21, 2016, 08:28:47 AM

Important announcement.

1.  I've significantly underestimated the amount of time and work required to build a large enough community around Byteball.  Also, there is development work to be done that's unlikely to be completed and properly tested before the originally planned launch date in early November.  That's why I'm pushing back the launch date to Christmas.  The snapshot will be taken on the first Bitcoin block timestamped on or after December 25, 2016 00:00:00 UTC (Christmas block).  I値l begin to send out bytes in the afternoon of Dec 25, unless there are major reorgs on the Bitcoin network.

2.  I stay true to my original intention to distribute 98% for free, but find it useful to split the distribution into several pieces.  On December 25, we値l distribute only 10%.  A month later, we値l make a new snapshot and distribute another 20%.  Two months later, the next 30%.  Three months later, the remaining 38%.  The exact numbers may me adjusted depending on the results of previous rounds and the progress of the address linking campaign.

The reason I chose to split the distribution into several rounds is that it gives more people an opportunity to participate.  It is impossible to reach every Bitcoin holder before livenet is launched.  We値l make news by distributing the first 10%, the network will become fully functional, hopefully we値l get listed on exchanges, all that will help many more people notice Byteball.  Each subsequent distribution round will have similar effect.

In each distribution round, we take a new snapshot.  Exactly as previously advertised, the amount of bytes you receive in the 1st round will be proportional to the BTC balances that you show on the linked Bitcoin addresses in the Christmas block.

The 2nd and subsequent rounds are slightly different.  You show both your BTC balances (as before) and your balance in bytes.  You have a sort of basket that consists of a mixture of BTC and bytes.  To determine the weight of the basket, every 62.5 MB are counted as 1 BTC.  For example, if you have 125 MB and 3 BTC, the weight is 2+3=5 BTC.  The distribution of new bytes on the 2nd and subsequent stages is proportional to the weight of your basket.

The ratio 62.5 MB per 1 BTC is chosen so that the total money supply of bytes (1015) and the total number of BTC in circulation (16,000,000) are equivalent.

Earlier adopters have the opportunity to participate in greater number of distribution rounds and receive new bytes in each round by using the same BTC balance and bytes received in previous rounds.  You are effectively doubling your stake in each additional round you take part in.

3.  The linking phase (when you link your Byteball and Bitcoin addresses) of the 1st round will start in early December or late November.

4.  We値l run more active marketing in the coming months to grow our community before the 1st distribution round.

5.  We doubled our development team: my colleague https://github.com/kakysha (not a real photo) is already helping me improve the wallet.

6.  We値l run a test flight of the distribution in November.  You will be able to link your Bitcoin testnet address to your Byteball testnet address, and the distribution will be proportional to your BTC testnet balance.

https://twitter.com/ByteballOrg/status/787248332469112836


the split of the distribution sounds good, but why don't you do it like nxt->ardor on more splits (daily?)
With your concept people can still sell a huge amount of coins between the splits.

i think this is also more practicable, because like this people will borrow some money / shortly sell other coins for a few minutes only...

I don't want to force people to lock their funds for extended periods of time.  A currency should be used to buy/sell stuff, not just sit on a pile of coins.

It's OK that people borrow money or sell other coins/fiat for BTC or bytes just before each snapshot.

Simplicity is beauty
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October 21, 2016, 03:35:11 PM

I don't want to force people to lock their funds for extended periods of time.  A currency should be used to buy/sell stuff, not just sit on a pile of coins.

It's OK that people borrow money or sell other coins/fiat for BTC or bytes just before each snapshot.

I think that's a great distribution model, you won't get people complaining about early adopter advantages when distribution % increases with time, should potentially bring in a lot more people, especially if Byteball hits exchanges before distribution is over.
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October 22, 2016, 01:55:54 AM

I am spreading the words, any bounty?


Never to work with a scammer and blackmailer .

Ok,let me tell you about the truth: first btc12 published some posts ,then blackmail to the creator for the money.
If not meet his demand,he will troll and bullshit the project again and again.

He trolled many projects,Wings,SingularDTV,Komodo,BlockCDN,DECENT...

I have disclosed his shit scam and blackmail behavior here.
https://bitcointalk.org/index.php?topic=1642552.0

damnMscollec
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October 22, 2016, 06:46:53 AM

I am spreading the words, any bounty?


Never to work with a scammer and blackmailer .

Ok,let me tell you about the truth: first btc12 published some posts ,then blackmail to the creator for the money.
If not meet his demand,he will troll and bullshit the project again and again.

He trolled many projects,Wings,SingularDTV,Komodo,BlockCDN,DECENT...

I have disclosed his shit scam and blackmail behavior here.
https://bitcointalk.org/index.php?topic=1642552.0


I thought btc12 was good, but it seems i am wrong. He promoted for many paid scams on his site, like opair. Singulardtv was paid on there too, after ico they do not pay more, btc12 started to attack them

His action now looks like icocountdown, they blackmail devs, if devs not pay, they will defame projects, nice job dude to disclose their shady behaviours.

icocountdown asked for $400 listing fee per week, shady guy too.

cyberhacker
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October 22, 2016, 07:40:45 AM

I am spreading the words, any bounty?


Never to work with a scammer and blackmailer .

Ok,let me tell you about the truth: first btc12 published some posts ,then blackmail to the creator for the money.
If not meet his demand,he will troll and bullshit the project again and again.

He trolled many projects,Wings,SingularDTV,Komodo,BlockCDN,DECENT...

I have disclosed his shit scam and blackmail behavior here.
https://bitcointalk.org/index.php?topic=1642552.0


I thought btc12 was good, but it seems i am wrong. He promoted for many paid scams on his site, like opair. Singulardtv was paid on there too, after ico they do not pay more, btc12 started to attack them

His action now looks like icocountdown, they blackmail devs, if devs not pay, they will defame projects, nice job dude to disclose their shady behaviours.

icocountdown asked for $400 listing fee per week, shady guy too.


CDN我们友情结束合作,因为一些外部条件达不到。
i terminate CDN  cooperation friendly due to some condition is not coming to our terms.

WINGS 20日还在问我有没有意向合作,我这里实在没兴趣。
wings ask for cooperation possibility, but i have no interest in any DAOs. We have twitter DM message as proof.

DECENT我是跟他们聊了很久,表示不看好。

I talked nicely with DECENT founder, but at last I post an article to express my doubt.

作为全网第一个揭发KIBO的人,我还觉得挺自豪的。

I am proud to be one of first guys debunking KIBO ponzi.


什么时候要求广告商变成投放一方的马仔,一定要唱多呢?

indeed i put some shay ads for some shitty project. but am i the only one?    I saw KIBO, KIMODO scam like ad every where.

Or do i have to applaud any bullshit like KIMODO?

DTV我提醒朋友们要破发,似乎做的还不错。

even i get advertisement fee from DTV. my friends ask for my opinion,  am i right to tell him it may drop under ICO price if not listed on polo?

不知道你这个怂货 做过几件漂亮事情。

I think i did most things right.  and don't know if the guy trying to fud me has ever done something make him proud of.


I am keep finding good project and debunk scams. and stay away with what i don't like.

and as someone said since when i have to underwrite all the big for nothing ICOs? I am only the advertiser. right ?

BTC12.COM 
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kanoptx
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October 22, 2016, 12:22:45 PM

I am spreading the words, any bounty?


Never to work with a scammer and blackmailer .

Ok,let me tell you about the truth: first btc12 published some posts ,then blackmail to the creator for the money.
If not meet his demand,he will troll and bullshit the project again and again.

He trolled many projects,Wings,SingularDTV,Komodo,BlockCDN,DECENT...

I have disclosed his shit scam and blackmail behavior here.
https://bitcointalk.org/index.php?topic=1642552.0


I thought btc12 was good, but it seems i am wrong. He promoted for many paid scams on his site, like opair. Singulardtv was paid on there too, after ico they do not pay more, btc12 started to attack them

His action now looks like icocountdown, they blackmail devs, if devs not pay, they will defame projects, nice job dude to disclose their shady behaviours.

icocountdown asked for $400 listing fee per week, shady guy too.


CDN我们友情结束合作,因为一些外部条件达不到。
i terminate CDN  cooperation friendly due to some condition is not coming to our terms.

WINGS 20日还在问我有没有意向合作,我这里实在没兴趣。
wings ask for cooperation possibility, but i have no interest in any DAOs. We have twitter DM message as proof.

DECENT我是跟他们聊了很久,表示不看好。

I talked nicely with DECENT founder, but at last I post an article to express my doubt.

作为全网第一个揭发KIBO的人,我还觉得挺自豪的。

I am proud to be one of first guys debunking KIBO ponzi.


什么时候要求广告商变成投放一方的马仔,一定要唱多呢?

indeed i put some shay ads for some shitty project. but am i the only one?    I saw KIBO, KIMODO scam like ad every where.

Or do i have to applaud any bullshit like KIMODO?

DTV我提醒朋友们要破发,似乎做的还不错。

even i get advertisement fee from DTV. my friends ask for my opinion,  am i right to tell him it may drop under ICO price if not listed on polo?

不知道你这个怂货 做过几件漂亮事情。

I think i did most things right.  and don't know if the guy trying to fud me has ever done something make him proud of.


I am keep finding good project and debunk scams. and stay away with what i don't like.

and as someone said since when i have to underwrite all the big for nothing ICOs? I am only the advertiser. right ?


you are making accusations without proof. why is kibo a ponzi? and why is komodo "bullshit"?

ParmaBTC
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October 22, 2016, 03:42:17 PM

is this discussion about byteball ? speak here about byteball project even if it is not self-moderated
thanks
if cyberhacker if ransomscammer he will never get paid



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OnkelPaul
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October 22, 2016, 09:20:02 PM

My desktop wallet takes ages to sync, and sometimes there is no change in the database for half an hour or more. Is this normal? Maybe this is related to the relatively small number of testnet nodes, is it possible to connect to a different one for faster sync?
The mobile wallet also had some performance issues, but synced a lot faster since it does not store the database locally.

Onkel Paul

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October 22, 2016, 10:18:07 PM

My desktop wallet takes ages to sync, and sometimes there is no change in the database for half an hour or more. Is this normal? Maybe this is related to the relatively small number of testnet nodes, is it possible to connect to a different one for faster sync?
The mobile wallet also had some performance issues, but synced a lot faster since it does not store the database locally.

Onkel Paul
yeahh @paul is normal,I also just had to wait for half an hour, sometimes up to 2 hours to sync network  Wink

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tonych
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October 22, 2016, 10:41:36 PM

My desktop wallet takes ages to sync, and sometimes there is no change in the database for half an hour or more. Is this normal? Maybe this is related to the relatively small number of testnet nodes, is it possible to connect to a different one for faster sync?
The mobile wallet also had some performance issues, but synced a lot faster since it does not store the database locally.

Onkel Paul
yeahh @paul is normal,I also just had to wait for half an hour, sometimes up to 2 hours to sync network  Wink

The sync does take time.  We are currently working to make it faster.
A recent full sync on my Mac took 4 hours, other users reported from 5 hours to days.
It is not normal that the database doesn't change during sync for more than a few seconds.  If it happens, please right-click, click "Inspect background page", and see the Console.  Normally, it updates very fast during sync.  If it doesn't, please PM me the entire contents of the Console.

We have sufficient number of well-connected nodes and the wallet automatically discovers them, this shouldn't be an issue.

Simplicity is beauty
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October 22, 2016, 11:47:02 PM

I'm affraid about 'fair' distribution - what when e.g. exchanges like polo, trex etc link their btc hotwallets - they will get bytes from our btc Wink

axxo
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October 23, 2016, 12:55:44 AM

I'm affraid about 'fair' distribution - what when e.g. exchanges like polo, trex etc link their btc hotwallets - they will get bytes from our btc Wink

There's nothing you can do about it, rules already set in stone. Exchanges can do whatever they want, it's their choice to distribute byteball or not.
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October 23, 2016, 01:00:26 AM

I am spreading the words, any bounty?


Never to work with a scammer and blackmailer .

Ok,let me tell you about the truth: first btc12 published some posts ,then blackmail to the creator for the money.
If not meet his demand,he will troll and bullshit the project again and again.

He trolled many projects,Wings,SingularDTV,Komodo,BlockCDN,DECENT...

I have disclosed his shit scam and blackmail behavior here.
https://bitcointalk.org/index.php?topic=1642552.0


I thought btc12 was good, but it seems i am wrong. He promoted for many paid scams on his site, like opair. Singulardtv was paid on there too, after ico they do not pay more, btc12 started to attack them

His action now looks like icocountdown, they blackmail devs, if devs not pay, they will defame projects, nice job dude to disclose their shady behaviours.

icocountdown asked for $400 listing fee per week, shady guy too.
YES! The shit guy also defame kibo ,DAO and others.
Reason is simple,he just want to blackmail money.
SushiNoTomato
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October 23, 2016, 01:53:26 AM

I'm affraid about 'fair' distribution - what when e.g. exchanges like polo, trex etc link their btc hotwallets - they will get bytes from our btc Wink

There's nothing you can do about it, rules already set in stone. Exchanges can do whatever they want, it's their choice to distribute byteball or not.

So BYTEBALL is collapsing even before it has officially started ? It seems as if people have just realized the way how to game the system a bit like CLAMS with SnapShots.

I agreed the concept is different to the usual but the above might be why it is rarely used.

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October 23, 2016, 10:50:40 AM

I'm affraid about 'fair' distribution - what when e.g. exchanges like polo, trex etc link their btc hotwallets - they will get bytes from our btc Wink

There's nothing you can do about it, rules already set in stone. Exchanges can do whatever they want, it's their choice to distribute byteball or not.

So BYTEBALL is collapsing even before it has officially started ? It seems as if people have just realized the way how to game the system a bit like CLAMS with SnapShots.

I agreed the concept is different to the usual but the above might be why it is rarely used.

also when you'll get free money, many ppl dump it to 0 price - simple because it's free. think that you MUST pay something for it - mining, ico etc.

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October 23, 2016, 11:48:21 AM

I'm affraid about 'fair' distribution - what when e.g. exchanges like polo, trex etc link their btc hotwallets - they will get bytes from our btc Wink

There's nothing you can do about it, rules already set in stone. Exchanges can do whatever they want, it's their choice to distribute byteball or not.

So BYTEBALL is collapsing even before it has officially started ? It seems as if people have just realized the way how to game the system a bit like CLAMS with SnapShots.

I agreed the concept is different to the usual but the above might be why it is rarely used.

It's not sure yet, what role (if any) exchanges will play. They could distribute the bytes to their customers or they could simply not participate at all!

With the new distribution scheme spanning several months, there is plenty of time for correction if it becomes apparent that exchange wallets influence the distribution too much.

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
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October 23, 2016, 12:36:47 PM

Any project concerning with DAG-chain is playing on edge of advanced technologies. Keep watching.

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October 23, 2016, 01:08:27 PM

DAG-chain
"DAG-chain" is oxymoron. It's better to use a technology neutral term "DAG distributed ledger".

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October 23, 2016, 07:41:12 PM

I'm very impressed by all of this Anton, like seriously, kudos to you.

If the functionality plays out as expected then you will have built something very useful. It shows a lot of established cryptos up for what they really are (unoriginal and not very disruptive).

I love your distribution idea. I say that as someone who holds 95% of his portfolio in alts. There is no way I can sell hundreds of btc of these alts and then buy them back without taking a huge hit, so I won't be able to get as much as I'd like. Nevertheless, I can appreciate the distribution system you are using and I think most of the arguments against it are weak. I think it seems very fair and extremely interesting. I applaud your motives (adoption) and your lack of the usual short-sighted greed. The only fair criticism that I'd see as desirable to avoid is the exchanges and other ico wallets with 1000s of btc that aren't really 'theirs' suddenly having 'too much' to be beneficial for byteball. Given the privacy implications for byteball I would not want any centralised authorities or businesses being able to coordinate to cause issues for it (against their own financial interest in byteball, but for their own financial interest in other ways). The only way around that that I can see would be to combine a wallet cap size and take a snapshot now of the biggest known wallets from exchanges and blacklist those addresses. I'm not sure many exchanges will go to great lengths to move customer coins around and split them up for an unknown new coin (sounds like a security nightmare for a big exchange), especially if they have to do it several times. At least it might put a few off doing that in the first couple of stages, so they will end up with MUCH less. I'm afraid that an exchange with tens of thousands of btc and the multiplier effect of 4 rounds will end up meaning the whole supply is dominated by a handful of market makers who might have an interest in seeing byteball fail.

I'm not really sure whether I think this is a huge issue, but I do agree you should have more of a think about the biggest, centralised wallets that hold coins for their customers rather than their own (I'd include some of the bigger recent ico's in that too myself Wink)

I have a lot of respect for you at this point though Anton, so if you really don't think these super wallets (that will probably have a lot more than your 1%) would cause a problem then fair enough. No one is investing anything here anyway so it is 100% your gamble to take, win or lose.

Good luck with it all dude, I almost wish it was an ICO so I could contribute/support the project lol. /thumbs up
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October 23, 2016, 08:22:58 PM

Why not set a cap on how much BTC can be linked to Byteball account per user, say 100btc, verified by BTT profile that was created before the OP. That way you can avoid someone with 10k BTC claiming 90% of all Byteball.
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