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Author Topic: BYTEBALL: Totally new consensus algorithm + private untraceable payments  (Read 906868 times)
loremipsum
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October 23, 2016, 08:33:03 PM
 #801

 I would like to invest in byteball but I don't have any BTC, only altcoins. Is there anyway to invest?

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October 23, 2016, 09:01:42 PM
 #802

I would like to invest in byteball but I don't have any BTC, only altcoins. Is there anyway to invest?

Buying Bitcoin.  Grin

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October 23, 2016, 09:05:09 PM
 #803

I would like to invest in byteball but I don't have any BTC, only altcoins. Is there anyway to invest?

Yes: Change your Alts to BTC.

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October 23, 2016, 09:31:30 PM
 #804

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

You and everyone else that wants some kind of reasonable distribution to take place.

Random snapshot date announced after it took place and the top 1 or 2 % of wallets should not get anything or only a small % of what they would get under this system....is the best and fairest method.

The distribution will have almost the same distribution width and will be magnitudes fairer.

There is no reasonable argument against it.



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ParmaBTC
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October 23, 2016, 09:34:12 PM
 #805

I would like to invest in byteball but I don't have any BTC, only altcoins. Is there anyway to invest?

Buying Bitcoin.  Grin

this is true, so it could be a Bitcoin crhistmass rallye.
Better grab some now and hold till +mass

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October 24, 2016, 07:05:18 PM
 #806

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.

This is not a bad idea, please reconsider it. There is still time to make changes, lets have the best possible scenario.








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tonych
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October 24, 2016, 07:14:24 PM
 #807

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

Thank you for your feedback, it is very encouraging!
Blacklisting addresses is certainly an option, but it is the last option in case a more friendly approach doesn't work.  I'll try to get the exchanges to act for their customers, i.e. receive the bytes and credit them to customers' accounts.  For plan B, any ideas how to find their addresses?

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October 24, 2016, 08:23:08 PM
 #808

I would like to invest in byteball but I don't have any BTC, only altcoins. Is there anyway to invest?

Buying Bitcoin.  Grin

this is true, so it could be a Bitcoin crhistmass rallye.
Better grab some now and hold till +mass

BYTEBALL will affect BTC slightly

                                 
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October 24, 2016, 08:59:43 PM
 #809


BYTEBALL will affect BTC slightly


It won't affect BTC at all. It might affect how some Alt's go down in price depending on volume.
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October 24, 2016, 10:21:21 PM
 #810

Haven't kept up, have detailed instructions for initial byteball distribution been released?

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October 25, 2016, 05:22:21 AM
 #811

Haven't kept up, have detailed instructions for initial byteball distribution been released?

https://bitcointalk.org/index.php?topic=1608859.msg16569906#msg16569906

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October 25, 2016, 05:25:16 AM
 #812

tried running on windows 10. it keeps saying "syncing...". how long does syncing take?
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October 25, 2016, 07:02:45 AM
 #813

tried running on windows 10. it keeps saying "syncing...". how long does syncing take?

At least 4 hours, sometimes significantly more.  We are working on making it faster.

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electronicash
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October 25, 2016, 07:10:24 AM
 #814


Somehow there had been lots of coins with features like this already but maybe the slight difference can work well like how SDC now.
Where is this coin going to be listed on exchange and when?

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October 25, 2016, 02:52:54 PM
 #815

tried running on windows 10. it keeps saying "syncing...". how long does syncing take?

I’m windows7 at 12hours

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October 25, 2016, 02:56:10 PM
 #816

tried running on windows 10. it keeps saying "syncing...". how long does syncing take?

I’m windows7 at 12hours

The first sync is slow, I with window7 first time 18 hours

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October 25, 2016, 03:04:18 PM
 #817

tried running on windows 10. it keeps saying "syncing...". how long does syncing take?

I’m windows7 at 12hours

The first sync is slow, I with window7 first time 18 hours

relax
You have no choice
wait

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October 25, 2016, 03:12:20 PM
 #818

The same wallet from op will be used to received real byteball?


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Soma
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kamiyama
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October 25, 2016, 03:20:24 PM
 #819

The same wallet from op will be used to received real byteball?

testnet only

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October 25, 2016, 03:26:02 PM
 #820

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.

Regarding ICO wallets, I reached out to James (jl777) who is currently running Komodo ICO.  He replied that keeping the received bytes for himself he considers unethical, and he will use the bytes as additional funding for Komodo.

I'm quite happy with this decision and hope other ICO founders will also use their funds responsibly.

Simplicity is beauty
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