Obyte: Totally new consensus algorithm + private untraceable payments

[szachta]

tonych
thx, and one more question.
if i link my bitcoin address for example on the 10th of December with 10 btc, and spend 3 btc untill 25th of December,
then i'm getting 7 btc of Byteballs ?

Yes, but remember to move the 7 btc back to your linked address (most wallets throw the change onto a fresh newly generated address)

Ok i remember this.

[middlepath]

What do you mean by "allow access to the private keys to official wallet"?

It is impossible to export private key in testnet..we can just import key..if wallet crash how can us restor it ?..privat key is an security allowing export fonds..so plan yu to allow this fonctionality in official wallet.

Unlike Bitcoin, private key in Byteball is not enough to restore access to funds.  Hence, to avoid giving false sense of security, I removed the export function.

happy friday to all frds


tonych can u explain what is the recovery easy system will be for final official wallet ..

need easy 1-2-3 steps to acces byteballs and send them ...

Two options:
1. (crazy) back up the app's data folder (e.g. on windows C:\users\<your user name>\AppData\Local\Byteball test).  You'll have to do that every time you send or receive blackbytes or any other private asset.
2. (practical) set up a multisig wallet with redundancy on two or more devices.  E.g. 1-of-2 on desktop+smartphone.  If one of the devices fails, you still can spend the funds from the other device.

I know this is not secure - but how about a real time back-up solution like owncloud/dropbox for this?

Use https://mega.nz/ - end-to-end encryption with auto sync (set app's data folder) and free 50GB cloud storage

[iamnotback]

Btw, I don't understand why that paper failed to cite the prior art of Iota's and Sergio Demian Lerner's DAGs.

Don't forget Byteball, a new consensus algorithm and private untraceable payments using DAG, no POW, no POS!
https://bitcointalk.org/index.php?topic=1608859.0

Also found this:

https://www.youtube.com/watch?v=zjT7wQNg_s4

The innovation claimed is that everyone can agree on 11 of 12 centralized supernodes to order the transactions, thus we wouldn't need PoW nor blocks if this claim were true and desirable.

If that claim were true, then we wouldn't have Visa and Mastercard dominant today.

Since people can't agree, this is why the governance of society is a power vacuum. The most ruthless and powerful are sucked into the vacuum to provide the top-down organization (discipline) that society requires to function. So it will be no different outcome in this case, where the 12 supernodes will be controlled by one entity (even pretending to be 12 entities via a Sybil attack). Because the users will never be able to agree on any evolution away from the 12 by forming a consensus on an exact 12, since they are only allowed a mutation of 1 at a time. And any higher rate of mutation would make it implausible to define a total order.

I am sorry he has failed. And every possible¹ DAG design will fail.

Tangentially (off-topic for technical discussion) although the creator appears to have good intentions, I argue his distribution method is highly flawed. Giving away coins for free means most will dump them on the market, thus collapsing the price. Well maybe that is by design, so someone can scoop them up cheap and then later after price hits rock bottom, then that group can pump & dump it making the usual fortune by mining the n00b speculators.

¹ I am referring to the concept of a DAG where branches are undifferentiated. And I have something more specific to say about this, but not ready to publish yet.

[luey]

Don't know if this has been addressed but wouldn't everyone sell all their bytecoins before the second distribution to gather extra btc for it?
i think better wait longer than to make more than one distributions.

[cryptonit]

im involved in many cryptocoin projects and i would love take part on byteball too

just all my value is in altcoin not in bitcoins

wouldnt it be fair and also attract a lot of the more open mindet non pure bitcoin crowd

if u also share bytes towards owners of altcoins

as long as they are traded on a exchange vs btc its easy to find out their BTC value and reward the with correct amount of bytes

also it help ya to attract many more people

i think the average altcoin investor is way deeper educated about blockchains than the pure bitcoin investor

its a crucial skill in altcoin ecosystem that u understand a bit mpre about blockchain technology else u would burn yourself at most invests

[CryptKeeper]

im involved in many cryptocoin projects and i would love take part on byteball too

just all my value is in altcoin not in bitcoins

wouldnt it be fair and also attract a lot of the more open mindet non pure bitcoin crowd

if u also share bytes towards owners of altcoins

as long as they are traded on a exchange vs btc its easy to find out their BTC value and reward the with correct amount of bytes

also it help ya to attract many more people

i think the average altcoin investor is way deeper educated about blockchains than the pure bitcoin investor

its a crucial skill in altcoin ecosystem that u understand a bit mpre about blockchain technology else u would burn yourself at most invests

This was already discussed in length and rejected by the developer.
If you really want to take part in the distribution, consider to sell your altcoins just for the btc linking process and buy them back later.

[sxafir]

Can i use wallet from blockchain,electrum,multibet hd?

[cryptonit]

im involved in many cryptocoin projects and i would love take part on byteball too

just all my value is in altcoin not in bitcoins

wouldnt it be fair and also attract a lot of the more open mindet non pure bitcoin crowd

if u also share bytes towards owners of altcoins

as long as they are traded on a exchange vs btc its easy to find out their BTC value and reward the with correct amount of bytes

also it help ya to attract many more people

i think the average altcoin investor is way deeper educated about blockchains than the pure bitcoin investor

its a crucial skill in altcoin ecosystem that u understand a bit mpre about blockchain technology else u would burn yourself at most invests

This was already discussed in length and rejected by the developer.
If you really want to take part in the distribution, consider to sell your altcoins just for the btc linking process and buy them back later.

im not gona dump coins im involved since years
sad dev team choice to limit the audience for byteball

but ya never know maybe its good i have to pass on this one

[tonych]

Don't know if this has been addressed but wouldn't everyone sell all their bytecoins before the second distribution to gather extra btc for it?
i think better wait longer than to make more than one distributions.

Legit concern, it was addressed by making bytes also count for the second and subsequent phases of distribution.
See https://bitcointalk.org/index.php?topic=1608859.msg16569906#msg16569906

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.

[tyz]

I downloaded the Byteball wallet for Linux. I unzipped the compressed file. Now, what file of the unzipped folder do I need to execute in order to install and/or get the wallet run? Is there a tutorial somewhere?

[tonych]

I downloaded the Byteball wallet for Linux. I unzipped the compressed file. Now, what file of the unzipped folder do I need to execute in order to install and/or get the wallet run? Is there a tutorial somewhere?

The executable file is "Byteball test".  Run it from terminal.

[CryptoSporidium]

im involved in many cryptocoin projects and i would love take part on byteball too

just all my value is in altcoin not in bitcoins

wouldnt it be fair and also attract a lot of the more open mindet non pure bitcoin crowd

if u also share bytes towards owners of altcoins

as long as they are traded on a exchange vs btc its easy to find out their BTC value and reward the with correct amount of bytes

also it help ya to attract many more people

i think the average altcoin investor is way deeper educated about blockchains than the pure bitcoin investor

its a crucial skill in altcoin ecosystem that u understand a bit mpre about blockchain technology else u would burn yourself at most invests

A weighted index of top 20 from CMC would be relatively easy to calculate, so btc would still be dominant, but it would let alt holders participate without having to sell and risk buy back

Edit: I think this could be Byteball Classic

[tonych]

Btw, I don't understand why that paper failed to cite the prior art of Iota's and Sergio Demian Lerner's DAGs.

Don't forget Byteball, a new consensus algorithm and private untraceable payments using DAG, no POW, no POS!
https://bitcointalk.org/index.php?topic=1608859.0

Also found this:

https://www.youtube.com/watch?v=zjT7wQNg_s4

The innovation claimed is that everyone can agree on 11 of 12 centralized supernodes to order the transactions, thus we wouldn't need PoW nor blocks if this claim were true and desirable.

If that claim were true, then we wouldn't have Visa and Mastercard dominant today.

Since people can't agree, this is why the governance of society is a power vacuum. The most ruthless and powerful are sucked into the vacuum to provide the top-down organization (discipline) that society requires to function. So it will be no different outcome in this case, where the 12 supernodes will be controlled by one entity (even pretending to be 12 entities via a Sybil attack). Because the users will never be able to agree on any evolution away from the 12 by forming a consensus on an exact 12, since they are only allowed a mutation of 1 at a time. And any higher rate of mutation would make it implausible to define a total order.

I am sorry he has failed. And every possible¹ DAG design will fail.

Tangentially (off-topic for technical discussion) although the creator appears to have good intentions, I argue his distribution method is highly flawed. Giving away coins for free means most will dump them on the market, thus collapsing the price. Well maybe that is by design, so someone can scoop them up cheap and then later after price hits rock bottom, then that group can pump & dump it making the usual fortune by mining the n00b speculators.

¹ I am referring to the concept of a DAG where branches are undifferentiated. And I have something more specific to say about this, but not ready to publish yet.

Are you the new identity of AnonyMint?
If you have any specific attack vectors in mind, please describe them and let's discuss.

[galaxiekyl]

Can i use wallet from blockchain,electrum,multibet hd?

yes yu can..yu need btc own adresse..just that.

[deadsilent]

Thank you for accepting me at your signature campaign. Hope the campaign last longer.
Im just curious about the spreadsheet because it has social media. Does the byteball has a social media campaign? Because i dont see it at your thread. Thank you.

[ICOcountdown.com]

Btw, I don't understand why that paper failed to cite the prior art of Iota's and Sergio Demian Lerner's DAGs.

Don't forget Byteball, a new consensus algorithm and private untraceable payments using DAG, no POW, no POS!
https://bitcointalk.org/index.php?topic=1608859.0

Also found this:

https://www.youtube.com/watch?v=zjT7wQNg_s4

The innovation claimed is that everyone can agree on 11 of 12 centralized supernodes to order the transactions, thus we wouldn't need PoW nor blocks if this claim were true and desirable.

If that claim were true, then we wouldn't have Visa and Mastercard dominant today.

Since people can't agree, this is why the governance of society is a power vacuum. The most ruthless and powerful are sucked into the vacuum to provide the top-down organization (discipline) that society requires to function. So it will be no different outcome in this case, where the 12 supernodes will be controlled by one entity (even pretending to be 12 entities via a Sybil attack). Because the users will never be able to agree on any evolution away from the 12 by forming a consensus on an exact 12, since they are only allowed a mutation of 1 at a time. And any higher rate of mutation would make it implausible to define a total order.

I am sorry he has failed. And every possible¹ DAG design will fail.

Tangentially (off-topic for technical discussion) although the creator appears to have good intentions, I argue his distribution method is highly flawed. Giving away coins for free means most will dump them on the market, thus collapsing the price. Well maybe that is by design, so someone can scoop them up cheap and then later after price hits rock bottom, then that group can pump & dump it making the usual fortune by mining the n00b speculators.

¹ I am referring to the concept of a DAG where branches are undifferentiated. And I have something more specific to say about this, but not ready to publish yet.

Are you the new identity of AnonyMint?
If you have any specific attack vectors in mind, please describe them and let's discuss.

Hey tony,

Can you tell me when you are expecting the airdrop to start so I can get my wallet ready. Thanks my friend.

[tonych]

Hey tony,

Can you tell me when you are expecting the airdrop to start so I can get my wallet ready. Thanks my friend.

We'll start linking Bitcoin and Byteball addresses in early December.

In a few days, we are starting a new testnet in order to test flight the distribution.  The distribution will be proportional to balances in Bitcoin testnet.

[CryptKeeper]

In a few days, we are starting a new testnet in order to test flight the distribution.  The distribution will be proportional to balances in Bitcoin testnet.

Regarding testnet bitcoins, here are a few (untested) faucets where you probably can get some:

https://tpfaucet.appspot.com/
https://kuttler.eu/de/bitcoin/btc/faucet/
http://bitcoinfaucet.uo1.net/

[sxafir]

How to link my btc adres to byteball?

[zanzibar]

How to link my btc adres to byteball?

I suspect that instructions will be provided.