Obyte: Totally new consensus algorithm + private untraceable payments

[Bannedseller]

Live interview with #Byteball dev Oct 14 @ 1PM EST on @CoinInterview Don't miss it
https://www.youtube.com/watch?v=zjT7wQNg_s4
 #consensus #untraceable

Will be watching it with interest

[penniless1]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

[tonych]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

You need to back up the entire data folder (~/.config/Byteball test on linux).  This folder includes private payments (blackbytes) which are not restorable from the seed. 

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

[grzem]

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

Suppose I have multisig 1 of 2, but during transaction only first wallet is online, and just after receiving dark byteball, is lost.
Do I have access to those dark byteball using only second wallet(device)?

[tonych]

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

Suppose I have multisig 1 of 2, but during transaction only first wallet is online, and just after receiving dark byteball, is lost.
Do I have access to those dark byteball using only second wallet(device)?

Good question.
Chances are high, you have.  As soon as the first device receives blackbytes, it immediately forwards the private data to its cosigner(s) in the multisig wallet (the second device in your example).  The data is sent through a hub, not directly, so it is no problem that the 2nd device is offline.  The hub is supposedly always online, it accepts the data (end-to-end encrypted, so the hub can't know what this data is about) and stores it until the 2nd device comes online.  When it happens, the 2nd device downloads the data and can spend blackbytes, even if the 1st device is already dead.

[yvv]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

You need to back up the entire data folder (~/.config/Byteball test on linux).  This folder includes private payments (blackbytes) which are not restorable from the seed. 

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

And if one of devices is lost and I replace it with a new one, how do I restore my wallet on it?

[tonych]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

You need to back up the entire data folder (~/.config/Byteball test on linux).  This folder includes private payments (blackbytes) which are not restorable from the seed. 

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

And if one of devices is lost and I replace it with a new one, how do I restore my wallet on it?

You create a new wallet and send all funds to it.

[JReag]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

You need to back up the entire data folder (~/.config/Byteball test on linux).  This folder includes private payments (blackbytes) which are not restorable from the seed. 

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

And if one of devices is lost and I replace it with a new one, how do I restore my wallet on it?

You create a new wallet and send all funds to it.

Would it be possible for alt coins to be included in the distribution count or are you ONLY going to do BTC?

I ask because I currently hold mostly altcoins and I'd have to start selling off holdings at a significant loss to gain my Byteballs.

Which would feel like biting my balls!

[cryptohunter]

Thanks, it works and it took about 6h to sync. The wallet is good looking. Exploring the settings I saved the seed and created a spending password as I would do on the real network. I'm confused by the backup part, the instructions say that the seed isn't enough to recreate the account but you need other settings too but it doesn't say which ones or how to save them (I don't remember the exact phrase because it was deleted along the seed after I saved it). 

I agree with this assessment - I think clearer instructions on how to backup the wallet are necessary.

You need to back up the entire data folder (~/.config/Byteball test on linux).  This folder includes private payments (blackbytes) which are not restorable from the seed. 

A better way to prepare for the device loss or failure, is by setting up a multi-sig wallet with redundancy, then you'll automatically have several copies of private payments on multiple devices.

And if one of devices is lost and I replace it with a new one, how do I restore my wallet on it?

You create a new wallet and send all funds to it.

Would it be possible for alt coins to be included in the distribution count or are you ONLY going to do BTC?

I ask because I currently hold mostly altcoins and I'd have to start selling off holdings at a significant loss to gain my Byteballs.

Which would feel like biting my balls!

only BTC ...which will be a huge issue if the exchanges wont play ball and distribute out to their users. Imagine exchanges with huge wallets full of bbs they got for free. The manipulation would be huge.

On the other hand doing doing a quick snap shot now on btc wallets and snipping the top 1% of wallets out could work better. if you still only have mostly alts you'll get zip.

[pwpwpw]

still no live date set ?

[CryptKeeper]

Live interview with #Byteball dev Oct 14 @ 1PM EST on @CoinInterview Don't miss it
https://www.youtube.com/watch?v=zjT7wQNg_s4
 #consensus #untraceable

Will be watching it with interest

Live now, please join!
    

[cyrixcer]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball? 

[ttookk]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball? 

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

[cyrixcer]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball? 

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

Sorry, I said it incorrectly, my bad english.

I wanted to say, if one guy has 100 bitcoin address, so he does 100 transactions, so he will easily get 100 stakes of the coin. It is unfair to those people does 1 transaction.

[teletobi]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball?  

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

Sorry, I said it incorrectly, my bad english.

I wanted to say, if one guy has 100 bitcoin address, so he does 100 transactions, so he will easily get 100 stakes of the coin. It is unfair to those people does 1 transaction.

No that's wrong. You don't get equal Stakes per Address. If you have 10 BTC on an Address you get ten times more Byteball than having 1 BTC. So it doesn't matter to have one Address with 10 BTC or 10 Addresses with 1 BTC each.
The Transactions are just to confirm you are the real owner of the Address.

[zanzibar]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball?  

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

Sorry, I said it incorrectly, my bad english.

I wanted to say, if one guy has 100 bitcoin address, so he does 100 transactions, so he will easily get 100 stakes of the coin. It is unfair to those people does 1 transaction.

No that's wrong. You don't get equal Stakes per Address. If you have 10 BTC on an Address you get ten times more Byteball than having 1 BTC. So it doesn't matter to have one Address with 10 BTC or 10 Addresses with 1 BTC each.
The Transactions are just to confirm you are the real owner of the Address.

That seems a bit weird, so you are rewarded more Byteball if you have more BTC?  Is there a tutorial for claiming, or not at that stage yet?

[CryptKeeper]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball?  

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

Sorry, I said it incorrectly, my bad english.

I wanted to say, if one guy has 100 bitcoin address, so he does 100 transactions, so he will easily get 100 stakes of the coin. It is unfair to those people does 1 transaction.

No that's wrong. You don't get equal Stakes per Address. If you have 10 BTC on an Address you get ten times more Byteball than having 1 BTC. So it doesn't matter to have one Address with 10 BTC or 10 Addresses with 1 BTC each.
The Transactions are just to confirm you are the real owner of the Address.

That seems a bit weird, so you are rewarded more Byteball if you have more BTC?  Is there a tutorial for claiming, or not at that stage yet?

No tutorial yet but I can say that the original distribution plans are about to be changed probably. Please stay tuned for more news.

[tonych]

Would it be possible for alt coins to be included in the distribution count or are you ONLY going to do BTC?

I ask because I currently hold mostly altcoins and I'd have to start selling off holdings at a significant loss to gain my Byteballs.

Which would feel like biting my balls!

I realize that some alts are illiquid and the spreads are huge, but we are distributing only based on BTC balances.

[galaxiekyl]

I can't understand the initial distribution, if one guy redo the procudure for 100 times, so he can get 100 stakes byteball?  

Ummm… No? How did you get that idea? At a fixed point in time, how much BTC every registered address holds and the Bytes are distributed according to it. Submitting the same address twice or more will lead to exactly nothing.

Sorry, I said it incorrectly, my bad english.

I wanted to say, if one guy has 100 bitcoin address, so he does 100 transactions, so he will easily get 100 stakes of the coin. It is unfair to those people does 1 transaction.

No that's wrong. You don't get equal Stakes per Address. If you have 10 BTC on an Address you get ten times more Byteball than having 1 BTC. So it doesn't matter to have one Address with 10 BTC or 10 Addresses with 1 BTC each.
The Transactions are just to confirm you are the real owner of the Address.

That seems a bit weird, so you are rewarded more Byteball if you have more BTC?  Is there a tutorial for claiming, or not at that stage yet?

no more strange nxt to ardor..but i think also it's not more équitable but this isn't maybe the finality of project..but at least you do not lose..you dont lock your founds pending 3 mounth and risked to loose your money..so in this meaning the method of distribute is better.



@tonych how yu will distribute android wallet holder, this is will made automatically or we must contact you to warning you ?

[max2000irc]

Hi ,

Is there any ETA on lunch main net?

Thank