Obyte: Totally new consensus algorithm + private untraceable payments

[valley365]

It'll do as a very rough approximation, see the white paper for the exact criteria of finality.
Witnesses are expected to always emit transactions, that's one of the factors that determines the choice of witnesses.

But do witnesses have to do active transactions? That seem pretty random. It would be easier that witnesses will just do random transactions automatically (say transfer same amount to each other) so people's tx will be guaranteed to be confirmed after certain time?

They don't need to transfer nothing. They need submit a smallest possible storage unit (cheapest) which does not change inputs or outputs, but only confirms previous transactions.

They could do it, but my question is more on that is it automatic? Because if it does, then the confirmation time of any transactions can be guaranteed. Otherwise it all depends on the witness activities.

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[yvv]

It'll do as a very rough approximation, see the white paper for the exact criteria of finality.
Witnesses are expected to always emit transactions, that's one of the factors that determines the choice of witnesses.

But do witnesses have to do active transactions? That seem pretty random. It would be easier that witnesses will just do random transactions automatically (say transfer same amount to each other) so people's tx will be guaranteed to be confirmed after certain time?

They don't need to transfer nothing. They need submit a smallest possible storage unit (cheapest) which does not change inputs or outputs, but only confirms previous transactions.

They could do it, but my question is more on that is it automatic? Because if it does, then the confirmation time of any transactions can be guaranteed. Otherwise it all depends on the witness activities.

This is interesting question. Suppose, each of 12 witnesses run a script which submit transactions at crazy rate, but nobody else is using the network at this time. What happens then? Do witnesses end up loosing money?

[tonych]

It'll do as a very rough approximation, see the white paper for the exact criteria of finality.
Witnesses are expected to always emit transactions, that's one of the factors that determines the choice of witnesses.

But do witnesses have to do active transactions? That seem pretty random. It would be easier that witnesses will just do random transactions automatically (say transfer same amount to each other) so people's tx will be guaranteed to be confirmed after certain time?

They don't need to transfer nothing. They need submit a smallest possible storage unit (cheapest) which does not change inputs or outputs, but only confirms previous transactions.

They could do it, but my question is more on that is it automatic? Because if it does, then the confirmation time of any transactions can be guaranteed. Otherwise it all depends on the witness activities.

This is interesting question. Suppose, each of 12 witnesses run a script which submit transactions at crazy rate, but nobody else is using the network at this time. What happens then? Do witnesses end up loosing money?

Witnesses do post transactions automatically but do it in a bit more reasonable way https://github.com/byteball/byteball-witness/blob/master/start.js

[kaicrypzen]

Filtering of microtransactions sent from exchange wallets already works in fully automated mode, so no need to apply any other measures.

Okay, well I might have missed something then. The last thing I remember, is you asking for someone to confirm that one suspect address was a Bittrex one (which it was), so I was under the impression that you filtered out exchanges' addresses manually once they were added, suspected and confirmed.

[valley365]

It'll do as a very rough approximation, see the white paper for the exact criteria of finality.
Witnesses are expected to always emit transactions, that's one of the factors that determines the choice of witnesses.

But do witnesses have to do active transactions? That seem pretty random. It would be easier that witnesses will just do random transactions automatically (say transfer same amount to each other) so people's tx will be guaranteed to be confirmed after certain time?

They don't need to transfer nothing. They need submit a smallest possible storage unit (cheapest) which does not change inputs or outputs, but only confirms previous transactions.

They could do it, but my question is more on that is it automatic? Because if it does, then the confirmation time of any transactions can be guaranteed. Otherwise it all depends on the witness activities.

This is interesting question. Suppose, each of 12 witnesses run a script which submit transactions at crazy rate, but nobody else is using the network at this time. What happens then? Do witnesses end up loosing money?

Witnesses do post transactions automatically but do it in a bit more reasonable way https://github.com/byteball/byteball-witness/blob/master/start.js

OK will read the code. But what are the transactions they post automatically? do they send coins among themselves?

[toto31]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 20 satoshis, market cap would be higher than bitcoin's current mc! lol

[Zer0Sum]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 2 satoshis, market cap would be higher than bitcoin's current mc! lol

They will trade like IOTA:

https://bitcointalk.org/index.php?topic=1550236.380

[toto31]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 2 satoshis, market cap would be higher than bitcoin's current mc! lol

They will trade like IOTA:

https://bitcointalk.org/index.php?topic=1550236.380

which is for sure the road to mass adoption

[windjc]

The transition bot isn't working for me. I click on the link and nothing happens. Please advise. Thx.

[Belligerent Fool]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 2 satoshis, market cap would be higher than bitcoin's current mc! lol

They will trade like IOTA:

https://bitcointalk.org/index.php?topic=1550236.380

which is for sure the road to mass adoption

Or mass dumping from the dev as he holds all of the Byteballs premined... Doesn't anyone think about why he chose this way of long distribution, BTC linking addresses for coins, a DAG setup that isn't totally explained and could very well be centralized, although because of the premine in general it is as 1 person alone is at the rise and demise of this new coin or adapted technology, also that total amount of coins that will exist compared with the estimated marketcap is scary as anything, incentive for jumping on board Byteballs ? Because it's free, then you want people to buy your free coins ? OK Then

[mxhwr]

been watching this for a while now hope it recovers

[crypt0hash]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 20 satoshis, market cap would be higher than bitcoin's current mc! lol

well, have a look one guy would buy it for 13 satoshi

Lets start the ball rolling down the road. Im a buyer at 13 sato. Whos to cross the swords with me?

Why do you think that two years of intense work by the dev and his team that led to the very well functioning revolutionary product that could compete even with the bitcoin should have lower value and lower significance as by Ethereum

[crypt0hash]

just count

21 000 000 bitcoin x 100 000 000 satoshi = 2 100 000 000 000 000 = 2.1 peta satoshi

but there are 'only' 1 000 000 000 000 000 byteball = 1 peta byteball

it exists more satoshis than byteballs  

Given that amount of coins, this means that even if the coin trades at 1 satoshi, the market cap will be higher than Ethereum's. Who in their right mind will buy this at more than 1 satoshi? Litoshi trading incoming...

at 2 satoshis, market cap would be higher than bitcoin's current mc! lol

They will trade like IOTA:

https://bitcointalk.org/index.php?topic=1550236.380

which is for sure the road to mass adoption

Sure, why not?

in addition many ppl get free BB by the giveaway, 1% of all the BB is foreseen for that 

[CryptKeeper]

The transition bot isn't working for me. I click on the link and nothing happens. Please advise. Thx.

Which os and which browser are you using?
Be sure to have downloaded the correct livenet wallet (it's the second row of download links on the website).
Is the wallet popping up when you click the link?

[NeuroticFish]

The transition bot isn't working for me. I click on the link and nothing happens. Please advise. Thx.

I can tell about the mistakes I made, maybe they help you find where your problem is.

1. I clicked the link on one computer, when the wallet was installed on another computer.
2. I clicked on the links that show on browser's status bar TN..something. Those don't work, they're for testnet (and I hope that you installed the livenet wallet).

I used Chrome and at the end it worked.

[icocoins]

epic moment is coming!

icocoins.com is watching

[toto31]

well, have a look one guy would buy it for 13 satoshi

Lets start the ball rolling down the road. Im a buyer at 13 sato. Whos to cross the swords with me?

Why do you think that two years of intense work by the dev and his team that led to the very well functioning revolutionary product that could compete even with the bitcoin should have lower value and lower significance as by Ethereum

Anyone on bitcointalk can claim anything, that doesn't make it true. And anyway, the problem is that to keep a price of 1 satoshi, you have to sell the coin to a large population.
Let's say bitcoin users are about 100M, that means you have to sell 10M Byteball to each of them to keep a price at 1 satoshi. Anything lower will make it trade in Litoshi or in Wei.
Good luck! 

[tonych]

It'll do as a very rough approximation, see the white paper for the exact criteria of finality.
Witnesses are expected to always emit transactions, that's one of the factors that determines the choice of witnesses.

But do witnesses have to do active transactions? That seem pretty random. It would be easier that witnesses will just do random transactions automatically (say transfer same amount to each other) so people's tx will be guaranteed to be confirmed after certain time?

They don't need to transfer nothing. They need submit a smallest possible storage unit (cheapest) which does not change inputs or outputs, but only confirms previous transactions.

They could do it, but my question is more on that is it automatic? Because if it does, then the confirmation time of any transactions can be guaranteed. Otherwise it all depends on the witness activities.

This is interesting question. Suppose, each of 12 witnesses run a script which submit transactions at crazy rate, but nobody else is using the network at this time. What happens then? Do witnesses end up loosing money?

Witnesses do post transactions automatically but do it in a bit more reasonable way https://github.com/byteball/byteball-witness/blob/master/start.js

OK will read the code. But what are the transactions they post automatically? do they send coins among themselves?

Each witness just pays to itself.

[kaicrypzen]

And anyway, the problem is that to keep a price of 1 satoshi, you have to sell the coin to a large population.
Let's say bitcoin users are about 100M, that means you have to sell 10M Byteball to each of them to keep a price at 1 satoshi. Anything lower will make it trade in Litoshi or in Wei.

I think nobody here talked about trying to keep the price at 1 sat, and nobody's expecting to exchange 1 byte for 1 sat. Surely peolpe will exchange kilobytes, megabytes, gigabytes, and so on; so there isn't actually any problem.

[toto31]

And anyway, the problem is that to keep a price of 1 satoshi, you have to sell the coin to a large population.
Let's say bitcoin users are about 100M, that means you have to sell 10M Byteball to each of them to keep a price at 1 satoshi. Anything lower will make it trade in Litoshi or in Wei.

I think nobody here talked about trying to keep the price at 1 sat, and nobody's expecting to exchange 1 byte for 1 sat. Surely peolpe will exchange kilobytes, megabytes, gigabytes, and so on; so there isn't actually any problem.

Well, and what do you expect exchanges to do with that? Do you think they will be happy to list a coin like that? They won't change their way of functionning to allow kb, mg or gg, so it will stay at 1 sat forever...
The only way to go is to list it against Ethereum or Litecoin, but not Bitcoin. Since volume is made against BTC primarily, that doesn't sound good...