Obyte: Totally new consensus algorithm + private untraceable payments

[s1lverbox]

Contrary to popular opinion, having most of the market cap in the hands of richest people is better than having it in the hands of poor people/speculators. Yes, some of them could just dump all their assets just for fun if they wanted.... but most of the time you don't get rich by doing dumb stuff like that.

There is a point in this, BTC whales were strong enough to h0dl BTC over years, so they are strong enough to h0dl Byteball over years

When let say u joined when btc was 3cents and u bought truck load, today spend 100btc for gbyte is nothing. dumping this to rebuy back after shock is again a way to make more btc. most of them moved away from holding to pumping and dumping.

You can all see this every day on poloniex with shitcoins.

I have to disagree. The richest ones don't go all in and out for tax reasons. Maybe they do have some "play-money" stash to do trading, but that's a way different thing.

Taxation only counts when you cash out your profits. if you juggle between alts and btc u have no tax to pay. In uk capital gain tax applies to btc only when u sell btc for fiat. Now, if you transact in btc only there is no tax to pay.

What country are you in? In most first world countries, swapping a coin to another is a taxable event.

Oh, I supposse you are in UK, well, I am not really sure, but there is a possibility you are wrong. If you are swapping millions in coins you better consult several taxation consultants to make sure you are doing it right. The fines are WAY bigger than any profit you could make.

If you are not swapping millions, most probably you are below the radar and you will never know.

Also, Byteball giveaway rounds are PURE capital gains. You get whatever value those Byteballs have in exchange of NOTHING. You then exchange them for BTC that has a "common established" price and you have not had any capital gain? Don't think so.

Sorry but you wrong.
If you was right all exchanges would be shut already.
Besides let say bitmex, accept only btc but u can trade other pairs to. guess what? u getting paid back in btc. so no exchange occurs for capital gain tax to apply.
And yes, crypto is grey area and most of countries have no clue what they doing.
I wanna see all those whales moving btc from alts back and forth that paying any tax. they just making bag bigger and when time to pay for toys etc they suing smart accountant or they using crypto to shop. thats all.

And so what millions or not u still should pay tax. And what radar u talking about? u can be lucky and turn 1Btc in 100Btc if one of the alts is pumped xxx or even xxxx%. That dosnt mean u going to tax office and paying tax. same with miners. they making btc and only paying tax on them which are sold otc.

[s1lverbox]

So for this sharedrop and all consecutive drops, what is the payout for holding BTC vs / GBYTE?

1 btc = 0.065Gbyte

If you spend 1 btc now for Gbytes: 5.61 (at 0.175btc rate) u will get  : 5.61*0.2Gbyte = 1.122Gbyte

Now 0.065 gbyte * 0.175BTC = 0.011375 BTC

While 1.122 Gbyte = 0.19635BTC

Hope that helps.

Better to hold Gbytes than link Btc.

[bitserve]

Contrary to popular opinion, having most of the market cap in the hands of richest people is better than having it in the hands of poor people/speculators. Yes, some of them could just dump all their assets just for fun if they wanted.... but most of the time you don't get rich by doing dumb stuff like that.

There is a point in this, BTC whales were strong enough to h0dl BTC over years, so they are strong enough to h0dl Byteball over years

When let say u joined when btc was 3cents and u bought truck load, today spend 100btc for gbyte is nothing. dumping this to rebuy back after shock is again a way to make more btc. most of them moved away from holding to pumping and dumping.

You can all see this every day on poloniex with shitcoins.

I have to disagree. The richest ones don't go all in and out for tax reasons. Maybe they do have some "play-money" stash to do trading, but that's a way different thing.

Taxation only counts when you cash out your profits. if you juggle between alts and btc u have no tax to pay. In uk capital gain tax applies to btc only when u sell btc for fiat. Now, if you transact in btc only there is no tax to pay.

What country are you in? In most first world countries, swapping a coin to another is a taxable event.

Oh, I supposse you are in UK, well, I am not really sure, but there is a possibility you are wrong. If you are swapping millions in coins you better consult several taxation consultants to make sure you are doing it right. The fines are WAY bigger than any profit you could make.

If you are not swapping millions, most probably you are below the radar and you will never know.

Also, Byteball giveaway rounds are PURE capital gains. You get whatever value those Byteballs have in exchange of NOTHING. You then exchange them for BTC that has a "common established" price and you have not had any capital gain? Don't think so.

Sorry but you wrong.
If you was right all exchanges would be shut already.
Besides let say bitmex, accept only btc but u can trade other pairs to. guess what? u getting paid back in btc. so no exchange occurs for capital gain tax to apply.
And yes, crypto is grey area and most of countries have no clue what they doing.
I wanna see all those whales moving btc from alts back and forth that paying any tax. they just making bag bigger and when time to pay for toys etc they suing smart accountant or they using crypto to shop. thats all.

And so what millions or not u still should pay tax. And what radar u talking about? u can be lucky and turn 1Btc in 100Btc if one of the alts is pumped xxx or even xxxx%. That dosnt mean u going to tax office and paying tax. same with miners. they making btc and only paying tax on them which are sold otc.

I am not so sure I am wrong in what is or isn't a taxable event. What you are describing is current situation in which many taxable events are not in the radar (that¡s the radar i am talking about) of tax office. Yes, I know you can do as you wish right now and most probably not have any tax issues, but that doesn't mean they weren't taxable events.

When we are talking about rich cyrptocurrencies people they are already cashing out some of their gains into fiat, real state, etc.... so they are already on the radar of the tax office and when you are, you better behave perfectly or you risk some HUGE fines/prison.

It's not the responsability of the exchanges to fill your tax forms. It is your responsability to identify any and all taxable events and declare them properly with or without any help of those exchanges.

[LoyceV]

I have to disagree. The richest ones don't go all in and out for tax reasons. Maybe they do have some "play-money" stash to do trading, but that's a way different thing.

Taxation only counts when you cash out your profits. if you juggle between alts and btc u have no tax to pay. In uk capital gain tax applies to btc only when u sell btc for fiat. Now, if you transact in btc only there is no tax to pay.

In the Netherlands we don't have a capital gain tax. If you're rich enough, you can choose where to live and taxes don't matter to you.

Meanwhile: 1 GB reached $400!
I can see it go up for a while before full moons, and down a bit after full moons, but what I'm really curious about is what happens when the airdrops stop. I'm hoping there will be enough cool applications by then for Byteball to keep growing, instead of a massive dump.

[galaxiekyl]

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

[bitserve]

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

WTF? Why the need to be so offensive? WHy don't you just try to make your point or give some rationale without being so mean?

How old are you?

[gsxrboy]

Can't wait someone forks Byteball, the distribution of the coin was \ is a joke.

[cryptothinker]

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

As far as I know, dev does not get new stakes at each round. The reserve is fixed at 1%.

[onetwo12]

33   Byteball Byteball   $85,336,740   $450.84   189,284 GBYTE *   $360,130   32.06%

byteball start find it's Value!

that's amazing.

i am expecting byteball be the top5 coin in the near future.

[onetwo12]

Can't wait someone forks Byteball, the distribution of the coin was \ is a joke.

you have no idea what you are talking about.

[galaxiekyl]

hmm..distrib is really uneven..take example on MINEREUM for distrib more equitable..this bank schema of distrib is really disgusting.

I suggest you participate in MINEREUM since you like their distribution scheme and you not participate in BYTEBALL since their distribution scheme is so really disgusting.  Don't let the door slam you in the butt on the way out.

MINEREUM is great deal open and équal and décentralized..all that bbs are not..this project is driven by the greed not the finality.

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

WTF? Why the need to be so offensive? WHy don't you just try to make your point or give some rationale without being so mean?

How old are you?

oh yeah i'm bad then yu are good and so much reasonable that you compassionate to see whale dominated bbs

[Nagadota]

33   Byteball Byteball   $85,336,740   $450.84   189,284 GBYTE *   $360,130   32.06%

byteball start find it's Value!

that's amazing.

i am expecting byteball be the top5 coin in the near future.

That's why the OP wanted a Bitcoin-based distribution.  To have a similar user base.

I'm late to the party but I've bought my bytes now.  I'm gonna be HODLing for a good year now, probably.

OP, if I had to read through all this "unfair distribution" and "IOTA clone" crap I would have killed myself by now.  Good job not doing that.

[BurtW]

hmm..distrib is really uneven..take example on MINEREUM for distrib more equitable..this bank schema of distrib is really disgusting.

I suggest you participate in MINEREUM since you like their distribution scheme and you not participate in BYTEBALL since their distribution scheme is so really disgusting.  Don't let the door slam you in the butt on the way out.

MINEREUM is great deal open and équal and décentralized..all that bbs are not..this project is driven by the greed not the finality.

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

WTF? Why the need to be so offensive? WHy don't you just try to make your point or give some rationale without being so mean?

How old are you?

oh yeah i'm bad then yu are good and so much reasonable that you compassionate to see whale dominated bbs

Why the hell are you hanging around here then?  If you are so upset by the distribution method then move along.  There are plenty of other alt for you to choose from.  Goodbye and good riddance.      

[drawingthesun]

I love this coin, I really do.

To all these idiots complaining about the distribution method. What are you talking about? Byteballs distribution method and dev fund size are the most reasonable in this space.

Can't believe the level of idiot on this forum.

[ByteFan]

Byteball needs to keep a decent capitalization to not be attacked by spamming. By distributing according to richness, you make sure that people can afford to hold the bytes you give them.

are yu stupid or focking crazy..this user will gets 1% of money supply at each rounds and yu tell me thats is focking secure !?

he have 1% of money supply and he will more 2x at each rounds..may be gets 20 or 30 % at ending..what yu want ? centralized bbs ?

As far as I know, dev does not get new stakes at each round. The reserve is fixed at 1%.

Confirmed.

[Jeff Jefferson]

with the rising price the trolls are starting to come in. you could read through all this nonsense. or you could just buy byteball and wait for the next distribution next week. then you simply receive 20% of the byteballs you already have without any hassle. don't let the FUDsters and all those envious people confuse you.

[jamesclark]

Compile windows client, and got this error:

C:\Byteball\byteball>grunt inno64
Running "innosetup_compiler:win64" (innosetup_compiler) task
Error in C:\Byteball\byteball\webkitbuilds\setup-win64.iss: The system cannot find the path specified.
Compile aborted.

Dev, can you please check?

[bobq]

Which is the best way to install the wallet on different devices - different computers and perhaps mobile, sharing the same account?

go add-wallet->multidevice-wallet
You can choose a multidevice-wallet that requires a signature from every devices if you're looking for maximum security, or a multidevice-wallet that requires only one signature from any device if you want an easy wallet for small expenses.

Thanks for the help, but I've tried to do that but the most I could achieve is to pair the devices which now allows me to chat between my laptop and my phone which I couldn't care less. My bytes still appear only on one device.
It's a real shame that in such a nice project there are no instruction on how to use the wallets. You can't even experiment too much with the wallet full of bytes, risking to lose the coins if you make mistakes. Am I the only one having this problem?

Now that your devices are paired, you create the multidevice-wallet and you transfer bytes from your current single-wallet to your multidevice-wallet (a device can have multiple wallets that you select in hamburger menu). Then you bytes will appear on both devices.

Thank you very much! It worked out perfectly! You have been very kind.

[Shiver]

I am not so sure I am wrong in what is or isn't a taxable event. What you are describing is current situation in which many taxable events are not in the radar (that¡s the radar i am talking about) of tax office. Yes, I know you can do as you wish right now and most probably not have any tax issues, but that doesn't mean they weren't taxable events.

When we are talking about rich cyrptocurrencies people they are already cashing out some of their gains into fiat, real state, etc.... so they are already on the radar of the tax office and when you are, you better behave perfectly or you risk some HUGE fines/prison.

It's not the responsability of the exchanges to fill your tax forms. It is your responsability to identify any and all taxable events and declare them properly with or without any help of those exchanges.

Isn't tax only applicable at the point where it is realized into fiat/Gov't money? (give back to Caesar what belongs to Caesar). I think this is why Gov'ts are pooping themselves.  If the most tax efficient way to live is to stay in non-gov't money then transactions will be done that way rather than using fiat wherever possible (think of the dual pricing for goods that could develop where taxing profit isn't applicable   )  Gov't would do everything in its power, and some things that are not, to prevent this from happening, but they think they should be an authority on such matters where really governing and financial interests should be separate concerns (imho).

If fiat gets sucked into this system and the fiat 'money as debt' shrinks, then it would disappear eventually up its own vent hole.  Voila! End of an Empire and someone else gets the reigns.

[CryptKeeper]

with the rising price the trolls are starting to come in. you could read through all this nonsense. or you could just buy byteball and wait for the next distribution next week. then you simply receive 20% of the byteballs you already have without any hassle. don't let the FUDsters and all those envious people confuse you.

Better join our slack for all the latest news, trends and developments around Byteball!

https://twitter.com/cryptkeeperbtt/status/869987513519271941