Obyte: Totally new consensus algorithm + private untraceable payments

[yvv]

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.

Which basically means that he will keep those bytes for himself and spend them as he wishes.

Yeah, this is what is likely to happen. Those who keep shitloads of BTC from ICOs (most of which are plain scams) will get 97% of all bytes and then dump them in smaller amounts at exchanges forever to "fund their own projects". It would be really more fair if all bytes were used to fund byteball development, instead of development of other so called "projects".

[1714208115]

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[1714208115]

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[1714208115]

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[tonych]

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.

Like I said earlier in my post, there is no reason not to limit each participants BTC amount to 100btc to make a more fair distribution model. James owning a large sum of Byteball to fund his own project is unethical, he'll just offload it so he can pay for another lame project. Nothing he has done has turned into anything significant, just look at his project history.

You know it is easy to bypass any cap in this anonymous world.

You have your opinion about James and his projects, that's fine, the message here is that the funds of Komodo investors will be used responsibly.

[Sam123]

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.

Very good initiative from James

[zanzibar]

You know it is easy to bypass any cap in this anonymous world.

You have your opinion about James and his projects, that's fine, the message here is that the funds of Komodo investors will be used responsibly.

It is and it's not as BTC is fairly easy to follow on the blockchain, I could easily tell you if James breaks up his BTC to pretend he's 10 different people. I say go for a cap, there is no reason someone should have that % of Byteball when it's clear he's not going to participate in the community but just sell to fund his own project.

[ParmaBTC]

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

it takes 2/3 day at the moment, take it easy

[boomboom]

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.

Which basically means that he will keep those bytes for himself and spend them as he wishes.

Yeah, this is what is likely to happen. Those who keep shitloads of BTC from ICOs (most of which are plain scams) will get 97% of all bytes and then dump them in smaller amounts at exchanges forever to "fund their own projects". It would be really more fair if all bytes were used to fund byteball development, instead of development of other so called "projects".

I trust James to do the right thing and not dump, but as for exchanges and other ICO projects ... I think BYTEBALL will suffer the same fate as NXT, whenever the price starts to rise a whale will appear to unload their bags. As long as everyone accepts that, the market adjusts accordingly. If you give a large amount of coins to people essentially for free (as in 50M NXT for 1 btc back in Sept-Nov 2013), then you can't really complain if those people use rational self interest to maximise their profits. Investors in ICO's aren't always 'supporters', they're looking to make $$, and unloading a HUGE bag (especially one you got for free) has obvious consequences which we've already seen, so just adjust all "moon" expectations accordingly. It'll take years to un-wind all the BYTE bags from BTC whales, just like it's taken years for NXT whales to sell down to hodl amounts.

[galaxiekyl]

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.

Claimers can link sévères btc add to claim Bas..so what yu said make no sense.

@tonych yu must know that exchange manage several wallet.. so i dont know if they can do conversion for all customer..There are not other choice to resale alt otherwise.

[loremipsum]

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.

Which basically means that he will keep those bytes for himself and spend them as he wishes.

Yeah, this is what is likely to happen. Those who keep shitloads of BTC from ICOs (most of which are plain scams) will get 97% of all bytes and then dump them in smaller amounts at exchanges forever to "fund their own projects". It would be really more fair if all bytes were used to fund byteball development, instead of development of other so called "projects".

I trust James to do the right thing and not dump, but as for exchanges and other ICO projects ... I think BYTEBALL will suffer the same fate as NXT, whenever the price starts to rise a whale will appear to unload their bags. As long as everyone accepts that, the market adjusts accordingly. If you give a large amount of coins to people essentially for free (as in 50M NXT for 1 btc back in Sept-Nov 2013), then you can't really complain if those people use rational self interest to maximise their profits. Investors in ICO's aren't always 'supporters', they're looking to make $$, and unloading a HUGE bag (especially one you got for free) has obvious consequences which we've already seen, so just adjust all "moon" expectations accordingly. It'll take years to un-wind all the BYTE bags from BTC whales, just like it's taken years for NXT whales to sell down to hodl amounts.

This is also my thinking. I decided to buy Byteball once it hits exchanges and some people -unavoidably- dump it. Besides, my holdings are in altcoins and Im not planning to change them into Bitcoins - and even if I did, they are not much. I think Byteball is promising in the long term because of its algo.

[bitcampaign]

how to get the wallet for windows

[lerecidiviste]

 


https://byteball.org/

scroll down under pic off app

enjoy !

[lerecidiviste]

 


can u pls kindly explain

how to become :   WITNESSES    & or ORACLES (cost&benefits)

thanks

[Krypt]

how to become :   WITNESSES 

Pls see here:
https://bitcointalk.org/index.php?topic=1608859.msg16196628#msg16196628
https://bitcointalk.org/index.php?topic=1608859.msg16222649#msg16222649

[lerecidiviste]

 

tks nice evening

[yassin54]

BYTEBALL: Totally New Consensus Algorithm and Untraceable Payments.

http://coremedia.info/index.php/blockchain-news/item/341-byteball-totally-new-consensus-algorithm-and-untraceable-payments

Tweet : https://twitter.com/coremedia_info/status/791346804294057984

[CryptKeeper]

BYTEBALL: Totally New Consensus Algorithm and Untraceable Payments.

http://coremedia.info/index.php/blockchain-news/item/341-byteball-totally-new-consensus-algorithm-and-untraceable-payments

Tweet : https://twitter.com/coremedia_info/status/791346804294057984

<snip>

Great Yassin, retweeted! 

[lerecidiviste]

 

some important references for those who want understand more...

References

1. Quoted   from   Wikipedia   https://en.wikipedia.org/wiki/Nineteen_EightyFour.

2. Satoshi   Nakamoto.      Bitcoin:   A   Peer-to-Peer   Electronic   Cash   System,   
https://bitcoin.org/bitcoin.pdf,   2008.

3. Sergio   Demian Lerner.      DagCoin,   
https://bitslog.files.wordpress.com/2015/09/dagcoin-v41.pdf,   2015.

4. Serguei   Popov.   The   Tangle,   http://iotatoken.com/IOTA_Whitepaper.pdf,   
2016.

5. TomHolden.      Transaction-Directed   Acyclic   Graphs,   
https://bitcointalk.org/index.php?topic=1504649.0,   2016.

6. Linked   timestamping,   https://en.wikipedia.org/wiki/Linked_timestamping.

7. Atomic   cross-chain   trading,   https://en.bitcoin.it/wiki/Atomic_crosschain_trading.

8. https://github.com/bitcoin/bitcoin

9. Gavin   Wood.      Ethereum:   A   Secure   Decentralised   Generalised   Transaction   
Ledger,   http://gavwood.com/Paper.pdf.   


enjoy !

[lerecidiviste]

 

question about  = BLACKBYTES 

pls explain more ......

"At   the   same   time,   transfers   can   be   hidden   from   third   parties   by   
sending   their   content   privately,   directly   from   payer   to   payee,   and   publishing   spend   
proofs   to   ensure   that   each   coin   is   spent   only   once"

so we have 2 types of bytes ? 


or blackbytes is just a byte with a "private" transfers ?

private transfers are more risky


regards

[lerecidiviste]

DECIMALS   


when we exchange bytes we can get lost in decimals ....

can u explain more about that point



one byteball is equivalent to what amount compared to BTC units ?


i understand the master is the byte system , so its close or like satoshi ?


thanks

[Krypt]

question about  = BLACKBYTES 

See https://bitcointalk.org/index.php?topic=1608859.msg16217906#msg16217906

[tonych]

DECIMALS   


when we exchange bytes we can get lost in decimals ....

can u explain more about that point



one byteball is equivalent to what amount compared to BTC units ?


i understand the master is the byte system , so its close or like satoshi ?

Bytes are like satoshis, both are indivisible.