Obyte: Totally new consensus algorithm + private untraceable payments

[SatoNatomato]

Giving the key holders too much power indeed could be bad idea. But holding the funds in a multisig address is a great solution. We may all trust tonych, but the point is - not everyone will trust a single man to keep all the funds. Its easier to trust a group of unrelated people than one person. "Power is a great seducer." The funds keepers only need to be honest people with very good reputation, and guarantee the funds will be intact. They should not hold any power on making decisions, or invest or moreover to have some interest.

They just should hold and be responsive. Having those funds secured until distribution will make it easier for the project to attract more investors, and clear up FUD. In any case, though I "hail" no-one , I am sure tonych makes the right decision on this

your key argument holds and fails on "only need to be honest people". Fucking LOL. Diogenes enteres the scene, with his lantern in broad daylight, people ask him wtf mate, he says im looking for an honest man amongst you.

To trust tonych is far easier than to trust 3 people, especially together. A group is shit. A group is a horde, can be herded, individuals are elegant, groups only leave massive amounts of shit - see bitcoin, it could have evolved if it was 1 person making decision instead of 5.

Tonych dont make the same mistake as Satoshi, keep control and carry on, distribution method is excellent despite maybe 2 people complaining, and they can go make their own distribution method as a group.

Ehm... Man whats up with you? Why so much distrust in people? There are lots of honest people, and even very honest ones (like me for example  ). I have seen some others too, so I am not the only one . You are free to believe or not, but I would be less cinical...

You don't seem to like democracy, right? Would definitely prefer totalitarian systems it seems. Well you are right to some extend, totalitatian systems are more effective. But there are so much other benefits in democratic approach... This is very interesting topic (to me at least), but this thread is not the right place to discuss it though...

" dont repeat the same mistake as Satoshi"   That was a good one lol . How far BTC would have gone, if Satoshi kept all the power..?

i too am very honest, probably the most honest up in this thread right after tonych. The problem is groups and group dynamics. Groups I do not trust, the bigger the worse they get.

See you already began talking about politics. Democrat sure, depends on flavor, representative or direct? A group to distribute byteblls is not democratic at all it is oligopoly or oligarchy at best.

Btc woul have biggee blocksize by now if Satoshi was around.

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[SatoNatomato]

...
no one care enough to mention that extra c in bold and huge font above?
why would anyone wants to link their bitcoin wallets to byeball wallets? is this a trojan horse for later hacks attempts or are you a government agent ?

well, this is something that worries me too - why the hell they want BTC holders to do this "linking" while they could easily implement some other method for proving BTC ownership, like sending few satoshis to an address, or other not-so-fishy methods?

dumbasses both of you.

The method of sending a few satoshis to prove holder of btc address was already implemented and used by most people.

Signing a message with your btc address is what its made to do.

[freebutcaged]

I get it now, the rich will get richer nice! I have this idea that I will make a coin and ask people to give it value by putting money (investing) and then I'll get my dev and future expenses shares, really easy income I made for myself and other people in community helped it to come to life because if they didn't then my random lines of code wouldn't be considered valuable.

Just like a few thousands other devs making coins and community willingly provide the value and then the devs just get their percentage as their cut in the deal, no wonder why so many many many many many many many and even more many altcoins exist.

[metamorphin]

I get it now, the rich will get richer nice! I have this idea that I will make a coin and ask people to give it value by putting money (investing) and then I'll get my dev and future expenses shares, really easy income I made for myself and other people in community helped it to come to life because if they didn't then my random lines of code wouldn't be considered valuable.

Just like a few thousands other devs making coins and community willingly provide the value and then the devs just get their percentage as their cut in the deal, no wonder why so many many many many many many many and even more many altcoins exist.

But only one made the BYTEBALL!

Greetz
Steve

[CryptKeeper]

Who can create a how-to video for dummies (especially for transferring Blackbytes)?

[Ghoom]

I know it's weird but someone can send me 1500 (white) bytes for testing blackbytes withdraw between two wallets ?

My address : 3CCFAF5UUXX7BHGV2VDQF56T2DYU3OGF

Thanks

[kola-schaar]

Approximately how many distribution cycles will it take to distribute all coins if linked wallets remain at 70K btc?

If the existing boundary conditions remain constant 
til a round achieves 10% of BTC capitalization (which was Tony's original goal)..
and.. , and..  and..
… we need also some models for growing (growing linked BTC):


..and get 4 scenarios:





So we can say (read from the glass sphere) in best case ~ 7 rounds in worst case more than 13..

[electronicash]

...
no one care enough to mention that extra c in bold and huge font above?
why would anyone wants to link their bitcoin wallets to byeball wallets? is this a trojan horse for later hacks attempts or are you a government agent ?

well, this is something that worries me too - why the hell they want BTC holders to do this "linking" while they could easily implement some other method for proving BTC ownership, like sending few satoshis to an address, or other not-so-fishy methods?

dumbasses both of you.

The method of sending a few satoshis to prove holder of btc address was already implemented and used by most people.

Signing a message with your btc address is what its made to do.

and so they expect everyone to do actually install the wallet?
i was willing to buy lately because i learned a ICN team had invested to byteballs lately but learning all these that they will require us to link out btc wallets, i guess i just have to leave this shit behind. Not worth.

[amacar1]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

[kaicrypzen]

Approximately how many distribution cycles will it take to distribute all coins if linked wallets remain at 70K btc?

If the existing boundary conditions remain constant 
til a round achieves 10% of BTC capitalization (which was Tony's original goal)..
and.. , and..  and..
… we need also some models for growing (growing linked BTC):

....
..and get 4 scenarios:
....

So we can say (read from the glass sphere) in best case ~ 7 rounds in worst case more than 13..

These best/worst cases depend on the growth of the linked amount. Can you please elaborate on the growth forumla? I mean is it just speculation, like if it grows by 50% here's what will happen, if it grows by 100% here's what will happen, or is there something else? (Note that the initial question was "if linked wallets remain at 70K btc" ). Thx.

[_sunshine_]

Approximately how many distribution cycles will it take to distribute all coins if linked wallets remain at 70K btc?

is about 11 rounds, for 70k btc and if all bytes get their 10% every round
10000
15375
21288
27791
34945
42815
51471
60994
71468
82990
95664
and if i right, if you have now 100gb, you will be have after 11 rounds 260gb + 120gbb

[kaicrypzen]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

You will get bytes according to what's on your linked addresses. Your 2 GB should be on BB linked addresses, they can be on the same one or on different addresses, as long as they are on linked addresses, they will count for the distribution.

[tripwirearmpit]

Can someone explain to me how this weird distribution is supposed to work?

[kaicrypzen]

i too am very honest, probably the most honest up in this thread right after tonych.

Sorry but couldn't let this one slide . Do you realize what you are saying ? It's like you know all about tonych and all about the users posting on this thread, so that you can actually say that tonych is number 1 honest person and you are number 2. That is so preposterous that it becomes hilarious. Yes, you can have a high opinion of yourself and of other people, be it justified or not, but please don't go around throwing bold statements like this, which, at the same time, are foolish.

Let me push this a bit further and ask you how you came to this conclusion .

Sorry for the off-topic by the way .

[yvv]

i too am very honest, probably the most honest up in this thread right after tonych.

Sorry but couldn't let this one slide . Do you realize what you are saying ? It's like you know all about tonych and all about the users posting on this thread, so that you can actually say that tonych is number 1 honest person and you are number 2. That is so preposterous that it becomes hilarious. Yes, you can have a high opinion of yourself and of other people, be it justified or not, but please don't go around throwing bold statements like this, which, at the same time, are foolish.

Let me push this a bit further and ask you how you came to this conclusion .

Sorry for the off-topic by the way .

Yeah man, this is complete bullshit. Everybody knows that the most honest person in this thread is me, right after tonych

[kola-schaar]

Approximately how many distribution cycles will it take to distribute all coins if linked wallets remain at 70K btc?

If the existing boundary conditions remain constant 
til a round achieves 10% of BTC capitalization (which was Tony's original goal)..
and.. , and..  and..
… we need also some models for growing (growing linked BTC):

....
..and get 4 scenarios:
....

So we can say (read from the glass sphere) in best case ~ 7 rounds in worst case more than 13..

These best/worst cases depend on the growth of the linked amount. Can you please elaborate on the growth forumla? I mean is it just speculation, like if it grows by 50% here's what will happen, if it grows by 100% here's what will happen, or is there something else? (Note that the initial question was "if linked wallets remain at 70K btc" ). Thx.

You are definitely right (That was not against your answer). The estimated growing is my pure speculation  . I wanted to show (without a lot of words)that there is'nt (can’t be) a valide answer at this time. Thast’s the problem.. So, tony has to adjust (as he explaint) to give everyone a real chance in the next rounds..

Growing is the key (as tony also explaint) and nobody can extrapolate from only one given point (round 1).
best regards

[amacar1]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

You will get bytes according to what's on your linked addresses. Your 2 GB should be on BB linked addresses, they can be on the same one or on different addresses, as long as they are on linked addresses, they will count for the distribution.

Great, thank you for your answer, I thought so but wasn't 100% sure.

[windjc]

What are the steps to send blackbyte to someone?

[zanzibar]

I am wondering one thing... In second round distribution. If I get in 1. round 1GBYTE and then I purchase another 1GBYTE will I get in second distribution 0.2GBYTE (cause I have 2GBYTE) or only 0.1GBYTE (because I got 1GBYTE in first distribution)?

You will get bytes according to what's on your linked addresses. Your 2 GB should be on BB linked addresses, they can be on the same one or on different addresses, as long as they are on linked addresses, they will count for the distribution.

Great, thank you for your answer, I thought so but wasn't 100% sure.

Definitely encourages people to buy and hold, an interesting model for sure. We need Byteball on some other exchanges though.

[_sunshine_]

What are the steps to send blackbyte to someone?

click paired device and send link to your someone