Obyte: Totally new consensus algorithm + private untraceable payments

[o0o0]

The top ten bitcoin holders fucked up the fair distribution.

so its crappy because you dont get lots for having nothing? go buy more btc then you too can get more byteball.

[zanzibar]

hi there.

I have linked my BTC address,
but the transition bot says my BTC wallet balance is zero although it has 1.9 BTC in it.

anyway to fix that?

It's probably because your 1.9btc is in a different address than the one that was linked, most wallets have multiple addresses. The best way to fix that is to generate a new address in your wallet, send the entire (1.9btc) balance to that new address, then try linking with the transition bot by sending a micro transaction.

[housebtc]

Can I use exchange wallet to collect my free BYTEBALL tokens?

[valley365]

Based on the progress of address linking that we've seen so far, I have to make a few adjustments to the future distribution plan.  Nothing changes for the first round (December 25) but the rules for further rounds are optimized to maximize the long-term value of your bytes.

For the 2nd round:
- for every 1 BTC of proven balance you receive 62.5 MB
- for every 1 byte, you receive 0.1 new bytes

We no longer commit to distributing exactly 20% in the second round, we'll distribute as much as is linked and calculated by the above rules.  After the price of byte is established in the markets, the rules make it significantly simpler for new users to estimate how much they get by linking their Bitcoins or by buying bytes.  Hopefully, this will encourage much more people to join.

Compared with the previous rules, the weight of bytes in the basket is decreased.  This still encourages byteholders to hold in order to receive more bytes in the future rounds, while giving more weight to the newly linked BTC.  We do need to be more attractive to new users, who are going to eventually link much much more BTC than we see in the current round, otherwise they might feel like a huge chunk of the second distribution will go to the participants of the first distribution, while new users are significantly disadvantaged.  If it is not quite clear, this is the math:

Under the old rules, for the basket weight calculation, 62.5 MB were accepted as 1 BTC.  10¹⁴ bytes are distributed in the first round, the total weight of these bytes is 1,600,000 BTC.  This seems huge compared with the amount of BTC the second-rounders are going to realistically link, based on current progress.  Therefore, under the old rules, the vast majority of new bytes are going to be distributed to the first-rounders, which scares new users off and contradicts my plans of creating the widest possible distribution and increasing value through network effects (which are proportional to square of the number of users).  To give new users better chance, the total weight of bytes distributed in the first round is reduced to 160,000 BTC under the new rules.

We will probably distribute less than 20% in the 2nd round, this means we'll have more rounds before all bytes are distributed, more opportunity to multiply your holdings in each round, more incentive to hold.

The 3rd and subsequent rounds will follow similar rules, but the relative weight of bytes vs. BTC in the 3rd and further rounds will change and will gradually increase back to 1 BTC=62.5 MB.  It will be selected to maximize the value of bytes and keep the speed of distribution in sync with the growth of user base and the actual use of the network.

The date of the 2nd round is not decided yet, rough estimate is mid-February.

Interesting changes. Indeed, it will favor more the new users, but there are a few problems. (1) First time users are more loyal I believe, they've been following this thread for long time and really interested. (2) decrease weight in bytes will cause more dump of bytes in the market, which is not good. We certainly hope people will hold more longer term.

[valley365]

The top ten bitcoin holders fucked up the fair distribution.

so its crappy because you dont get lots for having nothing? go buy more btc then you too can get more byteball.

Poor people always complain the world is not fair. But what is the fairness? Pure welfare and charity does not solve the problem and make the world more fair. I am rather poor in BTC, but at least I acknowledge this is a fair way of distribution.

[o0o0]

The top ten bitcoin holders fucked up the fair distribution.

so its crappy because you dont get lots for having nothing? go buy more btc then you too can get more byteball.

Poor people always complain the world is not fair. But what is the fairness? Pure welfare and charity does not solve the problem and make the world more fair. I am rather poor in BTC, but at least I acknowledge this is a fair way of distribution.

what i like about this distribution method is it ties off btc. it allows support and weight in btc which underpins all cryptocurrency. the btc hold nature gives btc strength and gives more byteball. but if you want more byteball you use btc to buy it, each currency supports each other. if byteball exceeds btc its a transition but it builds off the btc base. tony has done well doing it this way.

other dist methods like ico are parasitic and feed on btc. the teams acquire btc to sell and have no actual stake or requirement to succeed. by taking max 1% tonys wealth is tied to byteballs success. others have many so he cant sell to market crash so he has a big incentive to progress and future cement byteball. honestly everyone should praise this method and call out other alts that ico raise in parasitic greedy ways.

there will always be those that cry unfair but they are ones with very little wanting overnight wealth. its a lifelong thing wealth acquisition and instead of complaining they should work towards earning more. in years to come they will have a portfolio and be listening to ones that once sounded like them.

[tonych]

Based on the progress of address linking that we've seen so far, I have to make a few adjustments to the future distribution plan.  Nothing changes for the first round (December 25) but the rules for further rounds are optimized to maximize the long-term value of your bytes.

For the 2nd round:
- for every 1 BTC of proven balance you receive 62.5 MB
- for every 1 byte, you receive 0.1 new bytes

We no longer commit to distributing exactly 20% in the second round, we'll distribute as much as is linked and calculated by the above rules.  After the price of byte is established in the markets, the rules make it significantly simpler for new users to estimate how much they get by linking their Bitcoins or by buying bytes.  Hopefully, this will encourage much more people to join.

Compared with the previous rules, the weight of bytes in the basket is decreased.  This still encourages byteholders to hold in order to receive more bytes in the future rounds, while giving more weight to the newly linked BTC.  We do need to be more attractive to new users, who are going to eventually link much much more BTC than we see in the current round, otherwise they might feel like a huge chunk of the second distribution will go to the participants of the first distribution, while new users are significantly disadvantaged.  If it is not quite clear, this is the math:

Under the old rules, for the basket weight calculation, 62.5 MB were accepted as 1 BTC.  10¹⁴ bytes are distributed in the first round, the total weight of these bytes is 1,600,000 BTC.  This seems huge compared with the amount of BTC the second-rounders are going to realistically link, based on current progress.  Therefore, under the old rules, the vast majority of new bytes are going to be distributed to the first-rounders, which scares new users off and contradicts my plans of creating the widest possible distribution and increasing value through network effects (which are proportional to square of the number of users).  To give new users better chance, the total weight of bytes distributed in the first round is reduced to 160,000 BTC under the new rules.

We will probably distribute less than 20% in the 2nd round, this means we'll have more rounds before all bytes are distributed, more opportunity to multiply your holdings in each round, more incentive to hold.

The 3rd and subsequent rounds will follow similar rules, but the relative weight of bytes vs. BTC in the 3rd and further rounds will change and will gradually increase back to 1 BTC=62.5 MB.  It will be selected to maximize the value of bytes and keep the speed of distribution in sync with the growth of user base and the actual use of the network.

The date of the 2nd round is not decided yet, rough estimate is mid-February.

Why also not increase number of phases thus also decreasing percentages? Its easy to announce and increase/modify later if everything starts rolling. It would allow time for market to develop.

Also, correct your post. First you state nothing changes in round one then explain how its calculated differently.
My mistake

The new plan means that there will be more phases.

[tonych]

@tonych

Keep in mind that not all those who linked their addresses have funded them yet. It takes time to convert all these altcoins to BTC at reasonable prices, so the huge increase in linked BTC is probably going to happen at the last moment before 25th. It is a good idea not to set in stone the rules for 2nd and 3rd rounds for now.

I hope you are right but have to prepare for less optimistic outcome too.

[tonych]

Based on the progress of address linking that we've seen so far, I have to make a few adjustments to the future distribution plan.  Nothing changes for the first round (December 25) but the rules for further rounds are optimized to maximize the long-term value of your bytes.

For the 2nd round:
- for every 1 BTC of proven balance you receive 62.5 MB
- for every 1 byte, you receive 0.1 new bytes

We no longer commit to distributing exactly 20% in the second round, we'll distribute as much as is linked and calculated by the above rules.  After the price of byte is established in the markets, the rules make it significantly simpler for new users to estimate how much they get by linking their Bitcoins or by buying bytes.  Hopefully, this will encourage much more people to join.

Compared with the previous rules, the weight of bytes in the basket is decreased.  This still encourages byteholders to hold in order to receive more bytes in the future rounds, while giving more weight to the newly linked BTC.  We do need to be more attractive to new users, who are going to eventually link much much more BTC than we see in the current round, otherwise they might feel like a huge chunk of the second distribution will go to the participants of the first distribution, while new users are significantly disadvantaged.  If it is not quite clear, this is the math:

Under the old rules, for the basket weight calculation, 62.5 MB were accepted as 1 BTC.  10¹⁴ bytes are distributed in the first round, the total weight of these bytes is 1,600,000 BTC.  This seems huge compared with the amount of BTC the second-rounders are going to realistically link, based on current progress.  Therefore, under the old rules, the vast majority of new bytes are going to be distributed to the first-rounders, which scares new users off and contradicts my plans of creating the widest possible distribution and increasing value through network effects (which are proportional to square of the number of users).  To give new users better chance, the total weight of bytes distributed in the first round is reduced to 160,000 BTC under the new rules.

We will probably distribute less than 20% in the 2nd round, this means we'll have more rounds before all bytes are distributed, more opportunity to multiply your holdings in each round, more incentive to hold.

The 3rd and subsequent rounds will follow similar rules, but the relative weight of bytes vs. BTC in the 3rd and further rounds will change and will gradually increase back to 1 BTC=62.5 MB.  It will be selected to maximize the value of bytes and keep the speed of distribution in sync with the growth of user base and the actual use of the network.

The date of the 2nd round is not decided yet, rough estimate is mid-February.

Interesting changes. Indeed, it will favor more the new users, but there are a few problems. (1) First time users are more loyal I believe, they've been following this thread for long time and really interested. (2) decrease weight in bytes will cause more dump of bytes in the market, which is not good. We certainly hope people will hold more longer term.

Fair enough, but we have to strike a balance to encourage new users to join, as we won't create value by trading among ourselves.  That said, remember that first time users still get about 4 GB per BTC (at the current rate) while second-rounders get 62.5 MB per BTC, and I plan to increase the weight of bytes in the final rounds, so it still makes a lot of sense to hold.

[mirador17]

The rules are too complicated for me to deal with. I have linked my BTC with Byteball and am satisfied with what I get because it is free. Thank you Sir.

[tonych]

Turkish translation https://bitcointalk.org/index.php?topic=1719636.0 (thanks @torikan)

[freigeist]

Please use nwjs v0.14.7 and node v5.12 (they match).  You can use nvm to have multiple versions of node at the same time.
After you rebuild and start for the first time, it will complain about node_sqlite3.node again.  Find this file in the neighboring directory and just copy it to where nwjs tries to find it, it'll work next time.

Hello.

Thanks for the advice.
I managed to reinstall the sqlite3 for the platform before I have read this post.
Anyway it seem to work now. I have synchronized the wallet in less then an hour.

For those who could need it this is the specification of the my environment:

linux 32 bit machine
node.js  v6.9.2
nw.js v0.19.2-linux-ia32

I have executed the following commands:

Code:

git clone https://github.com/byteball/byteball.git
cd byteball

npm install -g bower
npm install -g grunt-cli

npm install jasmine-core --save-dev

bower install
npm install
grunt

sudo npm install nw-gyp -g
npm uninstall sqlite3
npm install sqlite3 --build-from-source --runtime=node-webkit --target_arch=ia32 --target=0.19.2

Now I wanted some bytes to play with but when I click the link on that https://byteball.org/
it cant open it.
link:

Code:

byteball-tn:AxBxXDnPOzE/AxLHmidAjwLPFtQ6dK3k70zM0yKVeDzC@byteball.org/bb-test#0000

or

byteball-tn:AzG28EqBgI9OkDa5yka9gYTqqrfuwt+7mUAUuhaAXLAT@byteball.org/bb-test#0000

or

byteball:A2WMb6JEIrMhxVk+I0gIIW1vmM3ToKoLkNF8TqUV5UvX@byteball.org/bb#0000

I receve a message box with
"Error Loading Extension"
Failed to load extension from: Manifest file is missing or unreadable

Is there a way to opet links byteball-tn: or  byteball: on a desktop machine?

[tonych]

Please use nwjs v0.14.7 and node v5.12 (they match).  You can use nvm to have multiple versions of node at the same time.
After you rebuild and start for the first time, it will complain about node_sqlite3.node again.  Find this file in the neighboring directory and just copy it to where nwjs tries to find it, it'll work next time.

Hello.

Thanks for the advice.
I managed to reinstall the sqlite3 for the platform before I have read this post.
Anyway it seem to work now. I have synchronized the wallet in less then an hour.

For those who could need it this is the specification of the my environment:

linux 32 bit machine
node.js  v6.9.2
nw.js v0.19.2-linux-ia32

I have executed the following commands:

Code:

git clone https://github.com/byteball/byteball.git
cd byteball

npm install -g bower
npm install -g grunt-cli

npm install jasmine-core --save-dev

bower install
npm install
grunt

sudo npm install nw-gyp -g
npm uninstall sqlite3
npm install sqlite3 --build-from-source --runtime=node-webkit --target_arch=ia32 --target=0.19.2

Now I wanted some bytes to play with but when I click the link on that https://byteball.org/
it cant open it.
link:

Code:

byteball-tn:AxBxXDnPOzE/AxLHmidAjwLPFtQ6dK3k70zM0yKVeDzC@byteball.org/bb-test#0000

or

byteball-tn:AzG28EqBgI9OkDa5yka9gYTqqrfuwt+7mUAUuhaAXLAT@byteball.org/bb-test#0000

or

byteball:A2WMb6JEIrMhxVk+I0gIIW1vmM3ToKoLkNF8TqUV5UvX@byteball.org/bb#0000

I receve a message box with
"Error Loading Extension"
Failed to load extension from: Manifest file is missing or unreadable

Is there a way to opet links byteball-tn: or  byteball: on a desktop machine?

Great, this is also a valid way to build.

To make the links work, please run "grunt desktop" (you might have to edit the Gruntfile.js a little bit to enable 32 bit version) and run Byteball once from ../byteballbuilds.  It will set up the proper protocol handlers for byteball-tn:.

[torikan]

Turkish translation https://bitcointalk.org/index.php?topic=1719636.0 (thanks @torikan)

You're welcome. 

[torikan]

No Pow No Pos. Transaction fees are redistributed to wallets in the network.
Well, what a coin's winning pattern is.
Does this make the developer famous?

Came a question like this.

[kaicrypzen]

hi there.

I have linked my BTC address,
but the transition bot says my BTC wallet balance is zero although it has 1.9 BTC in it.

anyway to fix that?

It's probably because your 1.9btc is in a different address than the one that was linked, most wallets have multiple addresses. The best way to fix that is to generate a new address in your wallet, send the entire (1.9btc) balance to that new address, then try linking with the transition bot by sending a micro transaction.

If a new address is generated, the funds moved to it, and then linked using a micropayment, the same problem will occur, and the remaining funds will be transferred to a new address ... The explanation was provided here https://bitcointalk.org/index.php?topic=1608859.msg17200476#msg17200476 by hermesesus.

What you have to do is:
- Make sure the linked address is indeed yours.
- Send your balance (back) to that address.
(- Query the bot sometime later to check that the right balance is detected.)

[freezal]

Hi tonych,
Today, I was preparing to byteball lunch and linking some bitcoin.
I'll use whonix, that same environment that, with your help, I had built and tested successfully byteball before.
I decided to build Byteball-TN first to test a little more.
I first cloned Byteball-TN branch only with:
> git clone -b tn --single-branch https://github.com/byteball/byteball.git
> cd byteball
Then followed build process and resolved same issues as before, and then run byteball wallet with:
> nw .
Everything seems ok.  I choose full wallet.
The wallet shows "[NEW TESTNET]."
It's run for hours but it still shows "syncing... 0%" (even after changing window focus and changing focus back to byteball window).
The file byteball.sqlite has only 345 kib.
Is the new testnet supposed to sync until 100% as before?
Can you imagine what is wrong?
Next I'll do the same thing with master branch (live) in other go generate a wallet and do the linking, but before I'd like to be sure everything is working.
Thanks again.

Please clone from master branch, master is now testnet.
BTW, we are adding TOR support (or rather support for socks5 proxy), almost done, should be merged in a few days, but if you are ok to experiment with unfinished software, you can clone from our developer's fork https[Suspicious link removed]y/byteballcore.

Please clone from master branch, master is now testnet.

Yes, it works now,  Wrong assumptions of me...

BTW, we are adding TOR support (or rather support for socks5 proxy), almost done, should be merged in a few days, but if you are ok to experiment with unfinished software, you can clone from our developer's fork https[Suspicious link removed]y/byteballcore.

Really great news, congratulations!
Ok, I can test.
First I tried to integrate this byteballcore lib into "new testnet", build it and run as before inside whonix 32 bits without configuring sock5, just to see if it works with defaults.
If it would have worked, I had planned to build it again in another box with a Linux 64 bits and TOR service started and configuring it to listen on sock5 port 9050.
I couldn't find instruction on how to use this byteball core lib.
So I cloned master again, run build steps leaving only the final "grunt" to be run.
Then find byteball/node_modules/byteballcore renamed it to get ride of it.
Put in its place the content of your unfinished byteballcore, and run grunt and tried to run byteball as before.
But after chose full wallet it shows and exclamation icon with message:
An exception occurred: TypeError: Wallet.readBalance is not a function: cause: undefined
And after click OK button it closes.
it seems I'm doing it the wrong way.
If you still want me to test this sock5 thing, could you please point me to some instruction on how to make it works.

Besides of this, I think I'm afraid  I could not use this new version of byteball with sock5 to link and participate on byteball first round of distribution, as it probably won't be ready soon enough;
I still want to use TOR and so my only option seems to be whonix building livenet myself.
If by doing: git clone https://github.com/byteball/byteball.git I get "new testnet", how can I clone live 0.7.1 (with I assume is the version everybody linking their bitcoins is using) to build it to proceed with live wallet generation and linking process via TOR?
Thanks.

[freigeist]

Please use nwjs v0.14.7 and node v5.12 (they match).  You can use nvm to have multiple versions of node at the same time.
After you rebuild and start for the first time, it will complain about node_sqlite3.node again.  Find this file in the neighboring directory and just copy it to where nwjs tries to find it, it'll work next time.

Hello.

Thanks for the advice.
I managed to reinstall the sqlite3 for the platform before I have read this post.
Anyway it seem to work now. I have synchronized the wallet in less then an hour.

For those who could need it this is the specification of the my environment:

linux 32 bit machine
node.js  v6.9.2
nw.js v0.19.2-linux-ia32

I have executed the following commands:

Code:

git clone https://github.com/byteball/byteball.git
cd byteball

npm install -g bower
npm install -g grunt-cli

npm install jasmine-core --save-dev

bower install
npm install
grunt

sudo npm install nw-gyp -g
npm uninstall sqlite3
npm install sqlite3 --build-from-source --runtime=node-webkit --target_arch=ia32 --target=0.19.2

Now I wanted some bytes to play with but when I click the link on that https://byteball.org/
it cant open it.
link:

Code:

byteball-tn:AxBxXDnPOzE/AxLHmidAjwLPFtQ6dK3k70zM0yKVeDzC@byteball.org/bb-test#0000

or

byteball-tn:AzG28EqBgI9OkDa5yka9gYTqqrfuwt+7mUAUuhaAXLAT@byteball.org/bb-test#0000

or

byteball:A2WMb6JEIrMhxVk+I0gIIW1vmM3ToKoLkNF8TqUV5UvX@byteball.org/bb#0000

I receve a message box with
"Error Loading Extension"
Failed to load extension from: Manifest file is missing or unreadable

Is there a way to opet links byteball-tn: or  byteball: on a desktop machine?

Great, this is also a valid way to build.

To make the links work, please run "grunt desktop" (you might have to edit the Gruntfile.js a little bit to enable 32 bit version) and run Byteball once from ../byteballbuilds.  It will set up the proper protocol handlers for byteball-tn:.

The whole process was a PITA   but I have managed to make it work.
I hope i will not have to bother you a lot with questions in the future
Thanks for the help.

Now the worst part will be to find someone willing to borrow me some BTC before 25th of the month.
I hope i will manage this too before is to late

[valley365]

Based on the progress of address linking that we've seen so far, I have to make a few adjustments to the future distribution plan.  Nothing changes for the first round (December 25) but the rules for further rounds are optimized to maximize the long-term value of your bytes.

For the 2nd round:
- for every 1 BTC of proven balance you receive 62.5 MB
- for every 1 byte, you receive 0.1 new bytes

We no longer commit to distributing exactly 20% in the second round, we'll distribute as much as is linked and calculated by the above rules.  After the price of byte is established in the markets, the rules make it significantly simpler for new users to estimate how much they get by linking their Bitcoins or by buying bytes.  Hopefully, this will encourage much more people to join.

Compared with the previous rules, the weight of bytes in the basket is decreased.  This still encourages byteholders to hold in order to receive more bytes in the future rounds, while giving more weight to the newly linked BTC.  We do need to be more attractive to new users, who are going to eventually link much much more BTC than we see in the current round, otherwise they might feel like a huge chunk of the second distribution will go to the participants of the first distribution, while new users are significantly disadvantaged.  If it is not quite clear, this is the math:

Under the old rules, for the basket weight calculation, 62.5 MB were accepted as 1 BTC.  10¹⁴ bytes are distributed in the first round, the total weight of these bytes is 1,600,000 BTC.  This seems huge compared with the amount of BTC the second-rounders are going to realistically link, based on current progress.  Therefore, under the old rules, the vast majority of new bytes are going to be distributed to the first-rounders, which scares new users off and contradicts my plans of creating the widest possible distribution and increasing value through network effects (which are proportional to square of the number of users).  To give new users better chance, the total weight of bytes distributed in the first round is reduced to 160,000 BTC under the new rules.

We will probably distribute less than 20% in the 2nd round, this means we'll have more rounds before all bytes are distributed, more opportunity to multiply your holdings in each round, more incentive to hold.

The 3rd and subsequent rounds will follow similar rules, but the relative weight of bytes vs. BTC in the 3rd and further rounds will change and will gradually increase back to 1 BTC=62.5 MB.  It will be selected to maximize the value of bytes and keep the speed of distribution in sync with the growth of user base and the actual use of the network.

The date of the 2nd round is not decided yet, rough estimate is mid-February.

Interesting changes. Indeed, it will favor more the new users, but there are a few problems. (1) First time users are more loyal I believe, they've been following this thread for long time and really interested. (2) decrease weight in bytes will cause more dump of bytes in the market, which is not good. We certainly hope people will hold more longer term.

Fair enough, but we have to strike a balance to encourage new users to join, as we won't create value by trading among ourselves.  That said, remember that first time users still get about 4 GB per BTC (at the current rate) while second-rounders get 62.5 MB per BTC, and I plan to increase the weight of bytes in the final rounds, so it still makes a lot of sense to hold.

Yes agree with what you said. But maybe should publish a plan to reward the holding of the byteball. Some people, regardless what you do, will possibly dump, and they should be penalized. But it is not easy to track it (2nd time distribution will take into account of it?).

[Karartma1]

I supposed this was just another altcoin crap (sorry if I did not look at it before) but I have to admit I fell in love with this project. I'm trying to stash all my coins into a single address to join this new adventure.
Very well thought, looking forward to it.