Obyte: Totally new consensus algorithm + private untraceable payments

[ByteFan]

Haven't sync'ed my wallet for a 1month, seems it takes forever to get sync'ed... performance is an issue!

Yes, but you don't have to run a full node and can switch to a light wallet which syncs in a few seconds.

You dont' need a full wallet for an average use. Switch to a light wallet.

[CarlOrff]

Can you please remember me :

After the june 9 distribution : how many coin are still to be distributed in the next months/years and what is the GByte total supply ?
Is there a sheet with all the previous monthly distibution (amount of GByte distributed, number of BTC linked...) ?

Edit 1 : GByte total supply is 1,000,000 GByte.

Edit 2 : in the OP, it's writting

Current status
The network was launched on December 25, 2016, and 10% of bytes and blackbytes distributed to those who linked their Bitcoin and Byteball addresses.  The total balance linked was over 70,000 BTC.  In the 2nd to 6th rounds, we distributed another 15.5%, over 450,000 BTC was linked.

if I understand well : it's remain 100% - 10% -15,5% = 74,5% GByte to distribute ?
Right ? Not right ?

Edit 3 :
If :
 - In the 2nd to 6th rounds, another 15.5% was distributed, then each month 15.5/6 = 2.58% is distributed,
 - It's remain 74,5% GByte to distribute,
Then it's remain (at this average btc-linked rate) 74,5 / 2.58 = 28,88 months of free distribution ?
To be corrected with the future btc-linked rate...
Right ? Not right ?

[MrChicken1987]

I like Byteball and the very fast transfer. Only consideration I have is the lack of decentralization at least at the moment.

The data are 100% decentralized among hubs and full wallet.

Only Witnesses are for the majority in dev hand, but it is supposed to be an intermediate state before being decentralized too. Dont' forget that Byteball is only 6 months old and need a little more time to reach more mass adoption and decentralization.

So is it right now helpful to set up another hub/witness to support the network?
Hubs and witnesses have to be changed manually by the user. The question is, if the average user can do and will do that (also to a hub or witness they don't know).


Also another question: Is it possible to change the fees later on? Right now a transaction costs approx 0,6 KB which is $0.0004.
But with an increasing price transactions could be very expensive.
Is it possible to change the fee to not beequal to the size of the data but to half the size? Or 1/10? (Rounded of course to be an integer)

Thanks in advance.

[kola-schaar]

Can you please remember me :

After the june 9 distribution : how many coin are still to be distributed in the next months/years and what is the GByte total supply ?
Is there a sheet with all the previous monthly distibution (amount of GByte distributed, number of BTC linked...) ?

Edit 1 : GByte total supply is 1,000,000 GByte.

Edit 2 : in the OP, it's writting

Current status
The network was launched on December 25, 2016, and 10% of bytes and blackbytes distributed to those who linked their Bitcoin and Byteball addresses.  The total balance linked was over 70,000 BTC.  In the 2nd to 6th rounds, we distributed another 15.5%, over 450,000 BTC was linked.

if I understand well : it's remain 100% - 10% -15,5% = 74,5% GByte to distribute ?
Right ? Not right ?

Edit 3 :
If :
 - In the 2nd to 6th rounds, another 15.5% was distributed, then each month 15.5/6 = 2.58% is distributed,
 - It's remain 74,5% GByte to distribute,
Then it's remain (at this average btc-linked rate) 74,5 / 2.58 = 28,88 months of free distribution ?
To be corrected with the future btc-linked rate...
Right ? Not right ?

Maybe helpful:
https://bitcointalk.org/index.php?topic=1608859.msg19463045#msg19463045
..but my estimates on the linked BTC were not good in the past:
https://bitcointalk.org/index.php?topic=1608859.msg18978655#msg18978655
https://bitcointalk.org/index.php?topic=1608859.msg18612220#msg18612220
Therefore pease note the Disclaimer.

[ByteFan]

I like Byteball and the very fast transfer. Only consideration I have is the lack of decentralization at least at the moment.

The data are 100% decentralized among hubs and full wallet.

Only Witnesses are for the majority in dev hand, but it is supposed to be an intermediate state before being decentralized too. Dont' forget that Byteball is only 6 months old and need a little more time to reach more mass adoption and decentralization.

So is it right now helpful to set up another hub/witness to support the network?
Hubs and witnesses have to be changed manually by the user. The question is, if the average user can do and will do that (also to a hub or witness they don't know).


Also another question: Is it possible to change the fees later on? Right now a transaction costs approx 0,6 KB which is $0.0004.
But with an increasing price transactions could be very expensive.
Is it possible to change the fee to not beequal to the size of the data but to half the size? Or 1/10? (Rounded of course to be an integer)

Thanks in advance.

A hub will always be helpfull for the network. There is not a real demand for a witness at the moment.

The fee computation is in the code. It can always be changed.

[CarlOrff]

Can you please remember me :

After the june 9 distribution : how many coin are still to be distributed in the next months/years and what is the GByte total supply ?
Is there a sheet with all the previous monthly distibution (amount of GByte distributed, number of BTC linked...) ?

Edit 1 : GByte total supply is 1,000,000 GByte.

Edit 2 : in the OP, it's writting

Current status
The network was launched on December 25, 2016, and 10% of bytes and blackbytes distributed to those who linked their Bitcoin and Byteball addresses.  The total balance linked was over 70,000 BTC.  In the 2nd to 6th rounds, we distributed another 15.5%, over 450,000 BTC was linked.

if I understand well : it's remain 100% - 10% -15,5% = 74,5% GByte to distribute ?
Right ? Not right ?

Edit 3 :
If :
 - In the 2nd to 6th rounds, another 15.5% was distributed, then each month 15.5/6 = 2.58% is distributed,
 - It's remain 74,5% GByte to distribute,
Then it's remain (at this average btc-linked rate) 74,5 / 2.58 = 28,88 months of free distribution ?
To be corrected with the future btc-linked rate...
Right ? Not right ?

Maybe helpful:
https://bitcointalk.org/index.php?topic=1608859.msg19463045#msg19463045
..but my estimates on the linked BTC were not good in the past:
https://bitcointalk.org/index.php?topic=1608859.msg18978655#msg18978655
https://bitcointalk.org/index.php?topic=1608859.msg18612220#msg18612220
Therefore pease note the Disclaimer.

Thank you for your reply.

Since my post, I have checked the numbers from CoinMarketCap http://coinmarketcap.com/currencies/byteball/ :
Today :
 - Circulating Supply : 255,492 GBYTE
 - Total Supply : 1,000,000 GBYTE
These numbers confirm that all my previous mathematics seems good (74,5% of GByte are to be distributing in the next months/years).

[devrobot]

Can you please remember me :

After the june 9 distribution : how many coin are still to be distributed in the next months/years and what is the GByte total supply ?
Is there a sheet with all the previous monthly distibution (amount of GByte distributed, number of BTC linked...) ?

Edit 1 : GByte total supply is 1,000,000 GByte.

Edit 2 : in the OP, it's writting

Current status
The network was launched on December 25, 2016, and 10% of bytes and blackbytes distributed to those who linked their Bitcoin and Byteball addresses.  The total balance linked was over 70,000 BTC.  In the 2nd to 6th rounds, we distributed another 15.5%, over 450,000 BTC was linked.

if I understand well : it's remain 100% - 10% -15,5% = 74,5% GByte to distribute ?
Right ? Not right ?

Edit 3 :
If :
 - In the 2nd to 6th rounds, another 15.5% was distributed, then each month 15.5/6 = 2.58% is distributed,
 - It's remain 74,5% GByte to distribute,
Then it's remain (at this average btc-linked rate) 74,5 / 2.58 = 28,88 months of free distribution ?
To be corrected with the future btc-linked rate...
Right ? Not right ?

Maybe helpful:
https://bitcointalk.org/index.php?topic=1608859.msg19463045#msg19463045
..but my estimates on the linked BTC were not good in the past:
https://bitcointalk.org/index.php?topic=1608859.msg18978655#msg18978655
https://bitcointalk.org/index.php?topic=1608859.msg18612220#msg18612220
Therefore pease note the Disclaimer.

Thank you for your reply.

Since my post, I have checked the numbers from CoinMarketCap http://coinmarketcap.com/currencies/byteball/ :
Today :
 - Circulating Supply : 255,492 GBYTE
 - Total Supply : 1,000,000 GBYTE
These numbers confirm that all my previous mathematics seems good (74,5% of GByte are to be distributing in the next months/years).

Actually the developer is keeping 1%, so only 999,999  GBytes will be distributed.
Your math is wrong though.
28.8 more distributions won't happen, not even close.

255 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 = 913.
after 7 distributions at 20%, there will be 913 million GBytes, and if we add the BTC, then it might not even get to 6 distributions.
Your count was just linear, but each new byte will also produce 0.2 new bytes every distribution, so it's not a linear progression at all.
I wish it was 28 distributions though, I'd be a millionaire!.

[CarlOrff]

Actually the developer is keeping 1%, so only 999,999  GBytes will be distributed.
Your math is wrong though.
28.8 more distributions won't happen, not even close.

255 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 * 1.2 = 913.
after 7 distributions at 20%, there will be 913 million GBytes, and if we add the BTC, then it might not even get to 6 distributions.
Your count was just linear, but each new byte will also produce 0.2 new bytes every distribution, so it's not a linear progression at all.
I wish it was 28 distributions though, I'd be a millionaire!.

Yes, of course : know that.

I said for a constant rate and yes the rate will be not constant. It was just to have an idea.
Thank you for your more accurate mathematics, and you're right, it is not close than mine :-).

[BitBatFan]

How do you know which coin received their byteball share? What if someone move their coins to new address every round? will he receive byteball again?

[nathanghart]

Is the Byteball team planning on starting up another campaign for bounty people who want to get started into this?
I missed the signature campaign as I was a late comer into knowing it's existence of the project.
I think it would help me get in to how it all works.

Appreciated for any advice on how to get into the byteball groove of things and how it all comes together!

Thanks!

[doge94]

How do you know which coin received their byteball share? What if someone move their coins to new address every round? will he receive byteball again?

First it's important to know that you can participate in multiple rounds with the same Bitcoin. If for instance the Bitcoin was moved to a different address every round, then only the address with the Bitcoin linked to it will receive distribution.

[andrejka]

Haven't sync'ed my wallet for a 1month, seems it takes forever to get sync'ed... performance is an issue!

Yes, but you don't have to run a full node and can switch to a light wallet which syncs in a few seconds.

You dont' need a full wallet for an average use. Switch to a light wallet.

How to switch to a light wallet? Is it a different wallet or is it done in the full one?

[CarlOrff]

How do you know which coin received their byteball share? What if someone move their coins to new address every round? will he receive byteball again?

In the Byteball wallet you receive your coins/share.
You have to link your Bitcoin address (many if you want).

[devrobot]

Is the Byteball team planning on starting up another campaign for bounty people who want to get started into this?
I missed the signature campaign as I was a late comer into knowing it's existence of the project.
I think it would help me get in to how it all works.

Appreciated for any advice on how to get into the byteball groove of things and how it all comes together!

Thanks!

Read about the distribution model on the first page of this thread.
There have been 6 airdrops, only 25% of the coins have been distributed, there will be a few more, next one is on July 9th.
To get ready, follow the steps in the first post.
Or this guide I made:

https://byteballblog.wordpress.com/how-to-get-free-byteballs

[BitBatFan]

How do you know which coin received their byteball share? What if someone move their coins to new address every round? will he receive byteball again?

First it's important to know that you can participate in multiple rounds with the same Bitcoin. If for instance the Bitcoin was moved to a different address every round, then only the address with the Bitcoin linked to it will receive distribution.

So someone with 10 btc could claim byteball 6 times already (in case if he moves coins to new address every round)?

[devrobot]

So someone with 10 btc could claim byteball 6 times already (in case if he moves coins to new address every round)?

Yes, but he doesn't need to move his coins anywhere. In fact, it's better to not move them because they are already linked in that address

[ByteFan]

How do you know which coin received their byteball share? What if someone move their coins to new address every round? will he receive byteball again?

First it's important to know that you can participate in multiple rounds with the same Bitcoin. If for instance the Bitcoin was moved to a different address every round, then only the address with the Bitcoin linked to it will receive distribution.

So someone with 10 btc could claim byteball 6 times already (in case if he moves coins to new address every round)?

No. There is a snapshot of the BTC blockchain before each distribution starts. You don't need moving your BTC and you can't cheat moving your BTC.

[qiwoman2]

I received my blackbytes and I think they are very cute. What exactly can I do with them now? Shall I just hold and collect them in each airdrop then later trade them with Peeps that like all these anon things? 

[DieJohnny]

I received my blackbytes and I think they are very cute. What exactly can I do with them now? Shall I just hold and collect them in each airdrop then later trade them with Peeps that like all these anon things? 

That is exactly what i am doing. It seems to me blackbytes are worth more than bytes in the long run, but that is just me. Again I am confused why you need to have both, but whatever.

[Wekkel]

Black bytes have the advantage of being able to be sent anonymously and without detection, but the downside is that these tokens can only be transferred if the sender and receiver have paired their devices first. So a payment to a random receiver without the receiver involved is not possible. In fact, I believe the receiver needs to set up the payment request in order to transfer black bytes.

Search for 'Byteball payment' on YouTube to see this in action.