Obyte: Totally new consensus algorithm + private untraceable payments

[kola-schaar]

...

To to disparage Byteball, but you totally ignore the partnerships and real world innovations already made and being built along side Iota. You suggestion that Iota is for a market 10 years from now is not really supported by any data I've seen.

No offense!
I like the two named Projects  . And I have high respect for the developers and their goals.
I only compare the complexity of the objectives. The more complex and revolutionary/ visionary the more difficult the path (it’s platitude). I do not want to intensify the topic, otherwise it will be OT.
But I would like to name three core aspects, which led me to the statement:

The fact is that not even 50% of the world's population is online…
In industry, the development is much slower than in the consumer market. Because you need much more investment…
My very crude temporal ideas are derived from other developments (i.e. PC development / robot / internet):
http://imageshack.com/a/img921/5505/9BsS81.png

My opinion also does not rule out that a speculative investment is not promising..  or as marseille said: ”A newbie can be ignored..” 

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[kaicrypzen]

its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

At least get your data straight if you want anyone here to take your baseless predictions seriously ... Dump fest? 50%? March? 9x? Where the heck does all this data come from? Maybe you know things that we don't or live in an alternate reality/world where these numbers make sense (yet you are able to post here ...).

[Jamus]

its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

At least get your data straight if you want anyone here to take your baseless predictions seriously ... Dump fest? 50%? March? 9x? Where the heck does all this data come from? Maybe you know things that we don't or live in an alternate reality/world where these numbers make sense (yet you are able to post here ...).

currently 100,000 of 1,000,000 have been distributed... only 10% ... another 9x this amount and we have our final amount.

all im saying is that if a supply increases by 900% over a short period of time usually the price is impacted.

[kaicrypzen]

currently 100,000 of 1,000,000 have been distributed... only 10% ... another 9x this amount and we have our final amount.

all im saying is that if a supply increases by 900% over a short period of time usually the price is impacted.

Yes, that's true, however, the rules of distribution have been changed to slow it down, the total supply won't be distributed over a short time period (well short is subjective), it may (and probably will) take years.

[SatoNatomato]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

[specturul]

Why not exchange for blackbytes? I wonder at what price I can buy them?

[Jamus]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 7k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 7k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

[metamorphin]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

The next newbie, who is talking crap...

70k BTC were linked by ALL, not only ICONOMI!

Greetz
Steve

[durerus]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

First of all it wasnt 70k BTC they registered. Maybe it was 7k BTC. They got around 10k Gigabytes.
Then they wont get another 10k Gigabytes in the next round, because for every BTC in second round you get only 0.0625 Gigabytes. Their 7k BTC will give them around 440 Gigabytes in second round. In addition to that you get 0.1 byte for every byte you hold during the snapshot of second round. With their 10k Gigabyte that will bring them 1k Gigabyte. So Iconomi will roughly end up with another 1500 Gigabyte.

[Jamus]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

The next newbie, who is talking crap...

70k BTC were linked by ALL, not only ICONOMI!

Greetz
Steve

Ok regardless of the figures on linked amounts being incorrect, they still own 10% of the supply, and others own similar, so those figures are irrelevant.

its easy enough to say "another newbie talking crap"

but all my points are valid, they are not made up or exaggerated.

[SatoNatomato]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

They dont earn another, next round each 1btc will give you 62.5megabytes only.

How is this fair? How is it in the real world, yet you are transacting with currencies? You think on your national economy that 1% or less of the population does not control the 90% of money supply? That 1 person can not crash your average western european countries economy? LOL. And extended to world economy, 150 people can move as much capital as the next 6billion combined.

If you are dealing with money, if you are buying and selling goods, you are contributing to inequality and unfair unjust world. Each transaction you make, and every one else makes with anything of value, is contributing to inequality. Rich get richer and poor get poorer, its not a dumb cliche its a realization of facts builtin any economical system. If you like to try alternatives go to Venezuela.

Can you point to any economy in the real world in any historical point in time where distribution is equal and is over time equalizing? LOL.

Money is the root of all evil, it is designed not to be equal and fair, any monetary system which goes against this basic truth fails and people dont consider it valuable to transact with.

Life is unfair, deal with it. I got my 1gb from 1btc, and bought more with the same 1btc, now I have +40GB. Now I am 1000001.23% richer than all the 99.9% of people of planet earth who didnt know how to buy a btc and sign a message with their wallet, those who still have 0gb. Unfair to them? Iconomi is looking down on my 40gb from their stash of their 9138312gb, so what?

What would you suggest would be a better distribution method? How would you do your byteball clone to be fair?

[pokemanvanish]

This coin is worthless, don't be bagholders here, lisk, waves, iconomi got most coins, also the dev got big part. The most unfair distribution

[metamorphin]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

The next newbie, who is talking crap...

70k BTC were linked by ALL, not only ICONOMI!

Greetz
Steve

Ok regardless of the figures on linked amounts being incorrect, they still own 10% of the supply, and others own similar, so those figures are irrelevant.

its easy enough to say "another newbie talking crap"

but all my points are valid, they are not made up or exaggerated.

again wrong...not similar...in the end, Iconomi will have maybe 2% of the whole supply. LISK maybe 5%...Komodo maybe 1%. In the end, these big amounts are the same like in the real economy with shares of Daimler or UBS and Co.
So nothing bad. If Iconomi would sell all his stocks in one time, they would destroy their reputation. So nothing special.


P.S.: I am sorry for the word "crap"; but its already a never ending discussion here.


Greetz
Steve

[metamorphin]

This coin is worthless, don't be bagholders here, lisk, waves, iconomi got most coins, also the dev got big part. The most unfair distribution

be more precise for your statement

It's really funny, that after the first earned bitcoins on the exchanges now the cryer are incoming, who missed that part?

Hey, I mean, Tony announced it for over 4 months?

Greetz

[Jamus]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

They dont earn another, next round each 1btc will give you 62.5megabytes only.

How is this fair? How is it in the real world, yet you are transacting with currencies? You think on your national economy that 1% or less of the population does not control the 90% of money supply? That 1 person can not crash your average western european countries economy? LOL. And extended to world economy, 150 people can move as much capital as the next 6billion combined.

If you are dealing with money, if you are buying and selling goods, you are contributing to inequality and unfair unjust world. Each transaction you make, and every one else makes with anything of value, is contributing to inequality. Rich get richer and poor get poorer, its not a dumb cliche its a realization of facts builtin any economical system. If you like to try alternatives go to Venezuela.

Can you point to any economy in the real world in any historical point in time where distribution is equal and is over time equalizing? LOL.

Money is the root of all evil, it is designed not to be equal and fair, any monetary system which goes against this basic truth fails and people dont consider it valuable to transact with.

Life is unfair, deal with it. I got my 1gb from 1btc, and bought more with the same 1btc, now I have +40GB. Now I am 1000001.23% richer than all the 99.9% of people of planet earth who didnt know how to buy a btc and sign a message with their wallet, those who still have 0gb. Unfair to them? Iconomi is looking down on my 40gb from their stash of their 9138312gb, so what?

What would you suggest would be a better distribution method? How would you do your byteball clone to be fair?

Ok your "deal with it" approach isn't making things sound any better

how would i make my clone different? max of 10btc linked. fair. now its averaged against everyone somewhat equally, not 1 entity has 100000x times more than every other person, ready waiting to dump the market with over $250,000 usd worth.


i think with such a new approach, why set up for failure, is this method the absolute fairest and best method the developer could think of? or am i missing something?

its the equivalent of having 1000 people stuck on an island and finding a load of 500 apples, and saying ok lets give 4 people 448 of those apples, and the remaining 996 people will have to share 2 apples. its actually cringe worthy how they think this was ever fair, its setup the market for failure, this will continue to be a topic of weakness throughout the coins life.

[metamorphin]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

They dont earn another, next round each 1btc will give you 62.5megabytes only.

How is this fair? How is it in the real world, yet you are transacting with currencies? You think on your national economy that 1% or less of the population does not control the 90% of money supply? That 1 person can not crash your average western european countries economy? LOL. And extended to world economy, 150 people can move as much capital as the next 6billion combined.

If you are dealing with money, if you are buying and selling goods, you are contributing to inequality and unfair unjust world. Each transaction you make, and every one else makes with anything of value, is contributing to inequality. Rich get richer and poor get poorer, its not a dumb cliche its a realization of facts builtin any economical system. If you like to try alternatives go to Venezuela.

Can you point to any economy in the real world in any historical point in time where distribution is equal and is over time equalizing? LOL.

Money is the root of all evil, it is designed not to be equal and fair, any monetary system which goes against this basic truth fails and people dont consider it valuable to transact with.

Life is unfair, deal with it. I got my 1gb from 1btc, and bought more with the same 1btc, now I have +40GB. Now I am 1000001.23% richer than all the 99.9% of people of planet earth who didnt know how to buy a btc and sign a message with their wallet, those who still have 0gb. Unfair to them? Iconomi is looking down on my 40gb from their stash of their 9138312gb, so what?

What would you suggest would be a better distribution method? How would you do your byteball clone to be fair?

Ok your "deal with it" approach isn't making things sound any better

how would i make my clone different? max of 10btc linked. fair. now its averaged against everyone somewhat equally, not 1 entity has 100000x times more than every other person, ready waiting to dump the market with over $250,000 usd worth.


i think with such a new approach, why set up for failure, is this method the absolute fairest and best method the developer could think of? or am i missing something?

Congrats for the wise teams, who linked their big stacks of bitcoins for the free coins! Now they deserved it, to earn money with it.
Tony never told, they will only distribute to few one. He told, that ALL Bitcoins can be linked. But instead of linking 16.5 mio btc, only 70k btc were linked.

Do u know, what will happen, if the big chinese bitcoinminer, wanna link their bags? :-D

Greetz

[yvv]

@tonych

Why don't you change the distribution such that it rewards actual users of byteball? You could code a smart contract such that every tenth transaction fee is redeemed from undistributed reserve. This way the amount of bytes in circulation would grow with the same pace as usage.

[metamorphin]

@tonych

Why don't you change the distribution such that it rewards actual users of byteball? You could code a smart contract such that every tenth transaction fee is redeemed from undistributed reserve. This way the amount of bytes in circulation would grow with the same pace as usage.

This proposal is not bad at all. But one big agreement must be:

The new coins only goes to new users. The problem: i could make 10k adresses to reach many byteballs. So this proposal needs more clarifications.

[SatoNatomato]

what a completely unfair distribution.. its going to be a dump fest from now till next distribution.. and then after a fresh batch of people get distrubted another 50%.. another dump fest.. best time to buy would be around march. but even then still another 9x the current amount to be distributed.

dump fest.

price is rising. aint nobody dumping their balls.

well lets do some simple math.

ICONOMI - one of the linked addresses to receive byteballs.

ICONOMI linked 70k btc - giving them 9.766% of the total supply by the time all distribution is over.

so they currently own 9766 byteballs = 245btc = $221,446 US dollars.

mid feb is the next round. they enter the 70k BTC once again, and in turn earn another 9766 Byteballs

assuming the price stays the same =

ICONOMI will own over 2.2million dollars USD or 10% of a currency.

one single entity owns 10% vs the other 7billion people on earth.


and that is just ICONOMI.. not to mention the other people that own large percentage.. LISK etc.


how is this fair, your giving a small portion of about 10 people 95% of the supply.




your project is already set up to fail, another project will take its place with a clone of byteballs with a fair distribution, excellent idea, failed distribution method, logic = lets give millionaires massive portions of the supply.

They dont earn another, next round each 1btc will give you 62.5megabytes only.

How is this fair? How is it in the real world, yet you are transacting with currencies? You think on your national economy that 1% or less of the population does not control the 90% of money supply? That 1 person can not crash your average western european countries economy? LOL. And extended to world economy, 150 people can move as much capital as the next 6billion combined.

If you are dealing with money, if you are buying and selling goods, you are contributing to inequality and unfair unjust world. Each transaction you make, and every one else makes with anything of value, is contributing to inequality. Rich get richer and poor get poorer, its not a dumb cliche its a realization of facts builtin any economical system. If you like to try alternatives go to Venezuela.

Can you point to any economy in the real world in any historical point in time where distribution is equal and is over time equalizing? LOL.

Money is the root of all evil, it is designed not to be equal and fair, any monetary system which goes against this basic truth fails and people dont consider it valuable to transact with.

Life is unfair, deal with it. I got my 1gb from 1btc, and bought more with the same 1btc, now I have +40GB. Now I am 1000001.23% richer than all the 99.9% of people of planet earth who didnt know how to buy a btc and sign a message with their wallet, those who still have 0gb. Unfair to them? Iconomi is looking down on my 40gb from their stash of their 9138312gb, so what?

What would you suggest would be a better distribution method? How would you do your byteball clone to be fair?

Ok your "deal with it" approach isn't making things sound any better

how would i make my clone different? max of 10btc linked. fair. now its averaged against everyone somewhat equally, not 1 entity has 100000x times more than every other person, ready waiting to dump the market with over $250,000 usd worth.


i think with such a new approach, why set up for failure, is this method the absolute fairest and best method the developer could think of? or am i missing something?

its the equivalent of having 1000 people stuck on an island and finding a load of 500 apples, and saying ok lets give 4 people 448 of those apples, and the remaining 996 people will have to share 2 apples. its actually cringe worthy how they think this was ever fair, its setup the market for failure, this will continue to be a topic of weakness throughout the coins life.

Max 10btc linked you say? Oh much wow, now it will take me a whole 2 minutes to create 23370 btc addresses and transfer my btc amounts amongst them, then link them individually with each holding 9.99btc.

Dont worry, if the method of distribution was magically fair, somehow from a real helicopter drone dropped bytes to Yemeni people equally as to rich Germans, you would still find something to complain about for the coins life, did the helicopters pollute the environment too much and scare the bird-life? Discuss.

[SatoNatomato]

@tonych

Why don't you change the distribution such that it rewards actual users of byteball? You could code a smart contract such that every tenth transaction fee is redeemed from undistributed reserve. This way the amount of bytes in circulation would grow with the same pace as usage.

Finally a great idea! Worth investigating.

If only the transaction fee is redeemed, where does it go to, the sender?

I like this idea, nobody would make fake small transactions as even that costs on average 518bytes, and only for the benefit of having the 10th transaction payed for by the reserve. I think a better idea is to not only redeem the fee, to pay it to the witness, but to make another transaction paying the 518bytes back to sender so both witness and sender receive bytes.

Or even make it a gamble, to pay the sender the fee + the amount transferred if its less than 1GB?