Obyte: Totally new consensus algorithm + private untraceable payments

[Ted_Nugent]

Bytes = Byteball currency
1 KB = 1000 Byte
1 MB = 1000 KB
1 GB = 1000 MB

Blackbytes = First Byteball private asset, completly anonymous
1 KBB = 1000 BlackBytes
1 MBB = 1000 KBB
1 GBB = 1000 MBB

Thanks to all. Through the last two comments posted I've come to see that Byteball has 2 currencies i.e Bytes and Blackbytes. Prior I was thinking of a byte as a numbered unit and not as a currency.

"Already now, bound payments allow you to P2P exchange bytes (the native currency of Byteball) against blackbytes (a private untraceable currency on Byteball platform) or any other asset issued on Byteball."

Q. Looking at the notes associated with the 7th round offer, there is a split with what you can get in either bytes or Blackbytes. So, you just let Byteball know which you would prefer or do you just convert the one you get over to the other without cost?

[Lauda]

Does someone know how to link a multisignature address to the bot? It keeps returning the following: "Only P2PKH addresses are supported". However, I've seen plenty of P2PKH addresses on the transition page: http://transition.byteball.org/

If you sort by bitcoin address on that transition page, you will see that all the addresses that start with a '3' were linked using a transaction, not a signature.

I am perfectly aware of that. However, the main question is how do I initiate this? The bot just keeps returning the message that I've mentioned above. Maybe it does not work if I have already linked some P2PKH addresses within the same wallet?

Try to enter one of your Byte addresses.

Thank you so much. That has worked!

[CorePrime95]

Thanks to all. Through the last two comments posted I've come to see that Byteball has 2 currencies i.e Bytes and Blackbytes. Prior I was thinking of a byte as a numbered unit and not as a currency.

"Already now, bound payments allow you to P2P exchange bytes (the native currency of Byteball) against blackbytes (a private untraceable currency on Byteball platform) or any other asset issued on Byteball."

Q. Looking at the notes associated with the 7th round offer, there is a split with what you can get in either bytes or Blackbytes. So, you just let Byteball know which you would prefer or do you just convert the one you get over to the other without cost?

You receive both Bytes and Blackbytes. You receive 2.1111 more Blackbytes then Bytes, as written on the first page.

The snapshots of Bitcoin blockchain and Byteball DAG for the 7th round will be taken on the Full Moon of July, on July 9, 2017 at 04:07 UTC.  What you receive, is proportional to your balances in BTC and Bytes:
BTC to bytes: 1 BTC of proven balance gives you 62.5 MB (0.0625 GB)
BTC to blackbytes: 1 BTC of proven balance gives you 2.1111 * 62.5 million blackbytes (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.2 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.42222 blackbytes

Putting this another way, to receive 1 GB from the distribution, you need to already hold 16 BTC or 5 GB.  These same holdings also give you 2.1111 GBB (giga-blackbyte).

[o0o0]

Bytes = Byteball currency
1 KB = 1000 Byte
1 MB = 1000 KB
1 GB = 1000 MB

Blackbytes = First Byteball private asset, completly anonymous
1 KBB = 1000 BlackBytes
1 MBB = 1000 KBB
1 GBB = 1000 MBB

Thanks to all. Through the last two comments posted I've come to see that Byteball has 2 currencies i.e Bytes and Blackbytes. Prior I was thinking of a byte as a numbered unit and not as a currency.

"Already now, bound payments allow you to P2P exchange bytes (the native currency of Byteball) against blackbytes (a private untraceable currency on Byteball platform) or any other asset issued on Byteball."

Q. Looking at the notes associated with the 7th round offer, there is a split with what you can get in either bytes or Blackbytes. So, you just let Byteball know which you would prefer or do you just convert the one you get over to the other without cost?

no you get both. read the first post distribution section again.

[Malek17]

Hi Guys as many of you here are holding or hodling bitcoin just a reminder stellar will taking a snapshot of the bitcoin blockchain on the 26 of June, Bitcoin community members can claim their fair share of lumens until August 27, 2017, after which any unclaimed lumens will be allocated to the Stellar operational fund and the Build Challenge, it's nothing like the fair distribution of Byteball ,i am sure a lot of guys will miss the 1 month period to claim their lumens so make sure to get yours convert them to bitcoin or Byteball or do whatever you like with them
every 1 bitcoin will give you 986.683 lumens which is equal to about $40 as of the lumens today exchange
( quote from from  stellar website:

June 26, 2017: We’ll take a snapshot of the blockchain at the first block mined with a timestamp on June 26th (UTC/GMT). This snapshot will record the coin balances of all bitcoin accounts at that time.

June 27, 2017: We’ll publish a claim page, allowing bitcoin holders to verify that they control a given bitcoin address. We will then send that address’s share of lumens to the provided Stellar account.

To get a sense of the giveaway math, take Rachel as an example:
At time of snapshot
16,215,950 bitcoins in existence
Rachel owns 10 bitcoins

Rachel can claim
16,000,000,000 * (10/16,215,950) = 9,866.83 lumens

Calculation
Rachel owns .00006167% of the bitcoins in existence at the time of the snapshot.
Her 9,866.83 lumens therefore equals .00006167% of lumens given away.

August 27th, 2017: The bitcoin lumen program will conclude. If there are unclaimed lumens, they’ll go to Stellar.org’s operational fund and to the Build Challenge.

Due to regulatory restrictions, this program is closed to residents of the U.S. states of New York, Georgia, New Hampshire, and Connecticut as well as the nations of Iran, Cuba, North Korea, and other countries subject to sanctions by the United States. These restrictions are subject to change to account for changes in regulatory posture.

Members and board members of Stellar.org will not participate in the bitcoin-lumen program or claim any lumens from it.)

[bitserve]

Hi Guys as many of you here are holding or hodling bitcoin just a reminder stellar will taking a snapshot of the bitcoin blockchain on the 26 of June, Bitcoin community members can claim their fair share of lumens until August 27, 2017, after which any unclaimed lumens will be allocated to the Stellar operational fund and the Build Challenge, it's nothing like the fair distribution of Byteball ,i am sure a lot of guys will miss the 1 month period to claim their lumens so make sure to get yours convert them to bitcoin or Byteball or do whatever you like with them
every 1 bitcoin will give you 986.683 lumens which is equal to about $40 as of the lumens today exchange
( quote from from  stellar website:

June 26, 2017: We’ll take a snapshot of the blockchain at the first block mined with a timestamp on June 26th (UTC/GMT). This snapshot will record the coin balances of all bitcoin accounts at that time.

June 27, 2017: We’ll publish a claim page, allowing bitcoin holders to verify that they control a given bitcoin address. We will then send that address’s share of lumens to the provided Stellar account.

To get a sense of the giveaway math, take Rachel as an example:
At time of snapshot
16,215,950 bitcoins in existence
Rachel owns 10 bitcoins

Rachel can claim
16,000,000,000 * (10/16,215,950) = 9,866.83 lumens

Calculation
Rachel owns .00006167% of the bitcoins in existence at the time of the snapshot.
Her 9,866.83 lumens therefore equals .00006167% of lumens given away.

August 27th, 2017: The bitcoin lumen program will conclude. If there are unclaimed lumens, they’ll go to Stellar.org’s operational fund and to the Build Challenge.

Due to regulatory restrictions, this program is closed to residents of the U.S. states of New York, Georgia, New Hampshire, and Connecticut as well as the nations of Iran, Cuba, North Korea, and other countries subject to sanctions by the United States. These restrictions are subject to change to account for changes in regulatory posture.

Members and board members of Stellar.org will not participate in the bitcoin-lumen program or claim any lumens from it.)

Thx for the reminder. But I do have one question that is not solved on the FAQ. What happens when someone has multiple addresses with BTC?

Ie: What if I have my BTC on 20 different address? Will I be able to claim them all? I think you need to verify by facebook, but can you claim multiple addresses with just one facebook?

[Malek17]

Hi Guys as many of you here are holding or hodling bitcoin just a reminder stellar will taking a snapshot of the bitcoin blockchain on the 26 of June, Bitcoin community members can claim their fair share of lumens until August 27, 2017, after which any unclaimed lumens will be allocated to the Stellar operational fund and the Build Challenge, it's nothing like the fair distribution of Byteball ,i am sure a lot of guys will miss the 1 month period to claim their lumens so make sure to get yours convert them to bitcoin or Byteball or do whatever you like with them
every 1 bitcoin will give you 986.683 lumens which is equal to about $40 as of the lumens today exchange
( quote from from  stellar website:

June 26, 2017: We’ll take a snapshot of the blockchain at the first block mined with a timestamp on June 26th (UTC/GMT). This snapshot will record the coin balances of all bitcoin accounts at that time.

June 27, 2017: We’ll publish a claim page, allowing bitcoin holders to verify that they control a given bitcoin address. We will then send that address’s share of lumens to the provided Stellar account.

To get a sense of the giveaway math, take Rachel as an example:
At time of snapshot
16,215,950 bitcoins in existence
Rachel owns 10 bitcoins

Rachel can claim
16,000,000,000 * (10/16,215,950) = 9,866.83 lumens

Calculation
Rachel owns .00006167% of the bitcoins in existence at the time of the snapshot.
Her 9,866.83 lumens therefore equals .00006167% of lumens given away.

August 27th, 2017: The bitcoin lumen program will conclude. If there are unclaimed lumens, they’ll go to Stellar.org’s operational fund and to the Build Challenge.

Due to regulatory restrictions, this program is closed to residents of the U.S. states of New York, Georgia, New Hampshire, and Connecticut as well as the nations of Iran, Cuba, North Korea, and other countries subject to sanctions by the United States. These restrictions are subject to change to account for changes in regulatory posture.

Members and board members of Stellar.org will not participate in the bitcoin-lumen program or claim any lumens from it.)

Thx for the reminder. But I do have one question that is not solved on the FAQ. What happens when someone has multiple addresses with BTC?

Ie: What if I have my BTC on 20 different address? Will I be able to claim them all? I think you need to verify by facebook, but can you claim multiple addresses with just one facebook?

i am sure you can use the same facebook account for many bitcoin addresses as long as you can prove the ownership of the Bitcoin address,i suggest to have your bitcoin in a wallet that allow you to sign in messages to prove the ownership of the address as some wallets like Copay doesn't allow to sign a message otherwise you may need to send small transaction to prove the ownership of the address and some wallets will move your Bitcoin to a new address everytime you send transaction that may be not an easyway to prove the ownership of a Bitcoin address.
if you have your Bitcoin in Kraken,BTC38,Poloniex,Deribit,Yuanbao,NaoBTC you shoud be able to get the lumens from the exchanger  without any verification.

[Hyena]

We should really do something about the synch time though. Would it make synch faster if there were more hubs and relays? Do hubs and relays have to have public/static IP addresses?

I tried syncing a full node. It seems that most of the delay is caused by the wallet reading and writing to the local hard drive excessively. I don't know if it is possible to configure sqlite to work with a bigger memory cache or something to cut down on disk access but if so, that should help a lot.
.....

I agree completely -my experiences:
Core i5-321M @ 2.5 GHz
RAM 8 GB
hard disk Seagate Momentus
WIn 10 64 Bit
full Sync Time:  >5 days (>120 h)

Core i7-5500U @ 2.40 GHz
RAM 8 GB
SSD
WIn 10 64 Bit
full Sync Time: 1 day (24 h)

SSD => factor 5 faster

On mobile devices without ssd, the synchronization never ends (e.g. SD memory card).
Clear recommendation:
The read / write speed of the device is the bottleneck, devices without SSD (or fast HD) should prefer a light wallet.
This recommendation must be pointed out during the installation in order to protect the users from frustration.

Excellent observation! Thanks! Also, there is probably something that can be done programmatically to improve the situation. Perhapse Byteball should use more RAM for caching and flush to disk less frequently?

[deadley]

Posting here for future refference. Looks interesting.

[Come-from-Beyond]

Are plain MB transfers the least resource consuming?
Maybe I can send messages (still paying fees) and that would be even faster because ledger validation is not required?

[d4c765]

Do you think the GBB will be listed on the exchange someday in the future?

Now, with the same situation, the GBB price will be falling.

[Hyena]

OK I'm going to announce it in this thread too.

Today I released the v1.0.0 RELEASE of the Byteball-to-TCP Proxy.

It is really easy to setup and get running. It listens on the Byteball network for new devices that pair with the proxy and for each guest device it spawns a raw TCP connection to the predefined host/port.
You can use this proxy whenever you have a service that accepts raw TCP connections and you want to expose it to Byteball wallets. By default the proxy serves the current time as given by the india.colorado.edu:13 telnet server.

[Freefactomizer]

Do you think the GBB will be listed on the exchange someday in the future?

Now, with the same situation, the GBB price will be falling.

GBB are to be exchanged P2P so only you and your peer know about your trade (only the transaction hash is stored in DAG). If you centralize the GBB market in an exchange then your GBB are not really privates anymore.

[BTCspace]

how long will it take for people to realize byteball is better than a lot of top10 coin?

[bitserve]

how long will it take for people to realize byteball is better than a lot of top10 coin?

It will take some time. The project lacks some marketing that other completely disfunctional coins do have.

Anyways, it is doing well atm. Let's see when some bigger exchanges (polo?) do add it, but it's better they don't do it yet. October would be a good month for that.

One of the strong points of Byteball is that the technology behind is so much different to other top 10 coins that it can act as a good hedge vs software/crypto bugs of the main ones (if such thing would happen). Ie: Litecoin is not a good hedge for Bitcoin in case of technical failure as they share almost the same codebase, same as ETC isn't vs Ethereum.

[Ted_Nugent]

Greetings,

Can someone clear something up for me regarding the price of crypto’s in relation to it's market cap. Recently I made mention of the “high” cost of  Byteballs currency of some $700 and a member on this forum replied with -

“Don't look at the price for one GB, take a look at the market cap of Byteball, than you will see that byteball is not so expensive!

-Can we finally please realize the change to MB, I am really sick of this discussions!.”

I see market cap as being described as it’s true value. Beyond this I don’t understand this members comment?

There are seemingly two components here i.e. 1) Price of Byteball in relation to its market cap and 2) The change to MB, both of which I do not fully grasp.  Can anyone shed some light? Thanks.

[Freefactomizer]

OK I'm going to announce it in this thread too.

Today I released the v1.0.0 RELEASE of the Byteball-to-TCP Proxy.

It is really easy to setup and get running. It listens on the Byteball network for new devices that pair with the proxy and for each guest device it spawns a raw TCP connection to the predefined host/port.
You can use this proxy whenever you have a service that accepts raw TCP connections and you want to expose it to Byteball wallets. By default the proxy serves the current time as given by the india.colorado.edu:13 telnet server.

How did you generate the QR code invitation for your bot device ?

[EcuaMobi]

Greetings,

Can someone clear something up for me regarding the price of crypto’s in relation to it's market cap. Recently I made mention of the “high” cost of  Byteballs currency of some $700 and a member on this forum replied with -

“Don't look at the price for one GB, take a look at the market cap of Byteball, than you will see that byteball is not so expensive!

-Can we finally please realize the change to MB, I am really sick of this discussions!.”

I see market cap as being described as it’s true value. Beyond this I don’t understand this members comment?

There are seemingly two components here i.e. 1) Price of Byteball in relation to its market cap and 2) The change to MB, both of which I do not fully grasp.  Can anyone shed some light? Thanks.

The market cap is the (theoretical) value of all the coins. That is number of coins * price of every coin.
At the moment there are 255,492,000,000,000 bytes in circulation. You can also call that amount 255,492 GB or 255,492,000 MB.

Each GB is worth about $725 at the moment; that means each MB is worth about $0.725. So the total market cap of Byteball is about $185 million, which is very low compared with the top coins by market cap which exceed several billion dollars.

1 GB is worth $725 but every GB equals to 1,000 MB or 1 billion bytes. There are only 255k GBs.
It probably makes more sense to use MB as the base unit instead of GB. In that case every coin is worth less than 1 dollar and there are 255 million of them.
Or you can use the byte as the base unit and every coin is worth only $0.000000725! (so cheap!). So as you can see the value of 1 arbitrary unit is not that important because you can just change the unit.


Now, please read at least the first post before posting any other question.
You should also read the basis about bitcoin and crypto-currencies in general.

[Ted_Nugent]

Greetings,

Can someone clear something up for me regarding the price of crypto’s in relation to it's market cap. Recently I made mention of the “high” cost of  Byteballs currency of some $700 and a member on this forum replied with -

“Don't look at the price for one GB, take a look at the market cap of Byteball, than you will see that byteball is not so expensive!

-Can we finally please realize the change to MB, I am really sick of this discussions!.”

I see market cap as being described as it’s true value. Beyond this I don’t understand this members comment?

There are seemingly two components here i.e. 1) Price of Byteball in relation to its market cap and 2) The change to MB, both of which I do not fully grasp.  Can anyone shed some light? Thanks.

The market cap is the (theoretical) value of all the coins. That is number of coins * price of every coin.
At the moment there are 255,492,000,000,000 bytes in circulation. You can also call that amount 255,492 GB or 255,492,000 MB.

Each GB is worth about $725 at the moment; that means each MB is worth about $0.725. So the total market cap of Byteball is about $185 million, which is very low compared with the top coins by market cap which exceed several billion dollars.

1 GB is worth $725 but every GB equals to 1,000 MB or 1 billion bytes. There are only 255k GBs.
It probably makes more sense to use MB as the base unit instead of GB. In that case every coin is worth less than 1 dollar and there are 255 million of them.
Or you can use the byte as the base unit and every coin is worth only $0.000000725! (so cheap!). So as you can see the value of 1 arbitrary unit is not that important because you can just change the unit.


Now, please read at least the first post before posting any other question.
You should also read the basis about bitcoin and crypto-currencies in general.

Thanks for your reply, I'll have a look at the links you posted also. I'd like to say however, that at this time, without going over the forum, that it appears that this division of GB and MB seems to more over of value in light of the Byteball offer i.e. 62.5 X and 0.2 etc. One bitcoin is $2800 and you can divide this in fractions also, but you are still paying $2800 for one; this verses what you paid a few years ago. One byteball is still $700+ and this is mainly important to what you could have paid in the past. For those who wish they could get the 0.2 X offer, the cost of the Byteball currency is expensive, as compared to most other crypto's. The value of the byteball crypto, I'm still to research, in light of a member saying it's better than most of the top 10 crypto's? Thanks again.

[Trollollo]

Damn...Looks like I forgot password for my byteball wallet...I sent my GB`s to bittrex,but still have some Blackbytes in wallet.Can I restore it with my full wallet backup what I made,or I need password anyway?