Obyte: Totally new consensus algorithm + private untraceable payments

[zanzibar]

But wait you are the main person on this thread who wanted it done this way. I remember you defending this terrible method of distribution more than anyone else.

Why complain now?

It's too late and you realise the BB you got was laughable crumbs of crumbs of crumbs and the whales just got the whale shares like was supposed to happen.

Perhaps if you all  convince tony to block those wallets on the next phases it will help slightly balance it out. I'm sure even those ICO whales wont dare moan they had their noses in the trough the first round and got enough for free.

The distribution is what it is, we should try to convince Lisk devs to sell some of their share. If they were honest (I know, funny) they would distribute byteballs to Lisk holders, but of course they won't, Lisk is a classic ICO scam.

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[valley365]

But wait you are the main person on this thread who wanted it done this way. I remember you defending this terrible method of distribution more than anyone else.

Why complain now?

It's too late and you realise the BB you got was laughable crumbs of crumbs of crumbs and the whales just got the whale shares like was supposed to happen.

Perhaps if you all  convince tony to block those wallets on the next phases it will help slightly balance it out. I'm sure even those ICO whales wont dare moan they had their noses in the trough the first round and got enough for free.

Lol, I was thinking the method is a fair one, at least it was not based on some fictitious things. But then I realized the ICO fund is an issue which I voiced my opinion. I don't see anything wrong with it.

Now I think it is more important for the development and adoption of the coin, with new projects etc. Since the purpose of the distribution is for making the coin better, I think the distribution should take into consideration of it.

There's nothing too late, only 10% distributed. I am sure Tony is looking for suggestions and may revise his plan as he always did.

[Seccour]

But wait you are the main person on this thread who wanted it done this way. I remember you defending this terrible method of distribution more than anyone else.

Why complain now?

It's too late and you realise the BB you got was laughable crumbs of crumbs of crumbs and the whales just got the whale shares like was supposed to happen.

Perhaps if you all  convince tony to block those wallets on the next phases it will help slightly balance it out. I'm sure even those ICO whales wont dare moan they had their noses in the trough the first round and got enough for free.

Lol, I was thinking the method is a fair one, at least it was not based on some fictitious things. But then I realized the ICO fund is an issue which I voiced my opinion. I don't see anything wrong with it.

Now I think it is more important for the development and adoption of the coin, with new projects etc. Since the purpose of the distribution is for making the coin better, I think the distribution should take into consideration of it.

There's nothing too late, only 10% distributed. I am sure Tony is looking for suggestions and may revise his plan as he always did.

It's planned already for the next snapshot. Compare to the first one, bytes holder will also receive bytes and blackbytes.

[strasboug]

But wait you are the main person on this thread who wanted it done this way. I remember you defending this terrible method of distribution more than anyone else.

Why complain now?

It's too late and you realise the BB you got was laughable crumbs of crumbs of crumbs and the whales just got the whale shares like was supposed to happen.

Perhaps if you all  convince tony to block those wallets on the next phases it will help slightly balance it out. I'm sure even those ICO whales wont dare moan they had their noses in the trough the first round and got enough for free.

Lol, I was thinking the method is a fair one, at least it was not based on some fictitious things. But then I realized the ICO fund is an issue which I voiced my opinion. I don't see anything wrong with it.

Now I think it is more important for the development and adoption of the coin, with new projects etc. Since the purpose of the distribution is for making the coin better, I think the distribution should take into consideration of it.

There's nothing too late, only 10% distributed. I am sure Tony is looking for suggestions and may revise his plan as he always did.

It's planned already for the next snapshot. Compare to the first one, bytes holder will also receive bytes and blackbytes.

Yes but it is not what valley means, he meant to put some rewards for people who develop apps on byteball. Since byteball has smart contract, one can do dapps like those in ETH.
http://dapps.ethercasts.com/

We need to provide incentives for them, to boost value and awareness of byteball.

[bitcoinuserz]

Looking to buy GB. PM me with amount.

[CryptKeeper]

Looking to buy GB. PM me with amount.

FYI

There is a slack channel #trading for Bytes and #trading_blackbytes for Blackbytes, please go there if you want to buy, sell, exchange Bytes and Blackbytes or want to speculate about the price! 

There's also an automated order book at #book (Bytes asks and bids only):

List of commands:
ASKS
BIDS
ASK <BTC> <GB>
BID <BTC> <GB>
REMOVE ASK
REMOVE BID

Please keep this in mind for your own safety:

Little guide for Byteball trading

This slack channel is for discussing Byteball trading and for organizing such trades. Please be aware that at the moment, the only way to trade safely is through a reputable escrow middleman! Even if you think you know the guy who you want to trade with, you should better trade through an escrow! We've already seen lots of scammers who try to impersonate well-known community members. So proceed with due diligence and always make sure that you are dealing with the right person, especially your escrow middleman. Only use registered escrow services and compare the usernames and bitcoin addresses carefully before you send someone your precious coins!

Registered escrow services:

@yassinnxt
Registered escrow bitcoin address: 153tSmxbKfby652LUyYdYEZhoxY9RzHYrz
Fee: 1% in BTC (from Byteball buyer)
(approx. 2700 BTC escrowed so far)

@seccour
Registered escrow bitcoin address: 1Hx3kxKbYyNgGyqzLB5Qw8BA8dZbuu1Xjn
Fee: none (tips accepted)
(over 500 BTC escrowed so far)

@martis
Registered escrow bitcoin address: 1pMPHbinYokoXEDav5J3tkto14rxBSwx9
Fee: 1% in BTC (split 50/50 between buyer and seller)

Get your slack invite here: http://slack.byteball.org/

[jwinterm]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

[strasboug]

Is there a market for blackbyte? Does slack have a channel for blackbyte? I have some for sale for bytes, if anyone interested please contact me.

[topesis]

and the linked addresses stay linked for the second round?

Yes. If you're not sure if you have balance on those linked addresses, talk again with the transition bot in the wallet. It will tell you all linked addresses with their balances.

You can also check http://transition.byteball.org. It is now up-to-date and contains the linked addresses concerning the next (ie second) round. (If you or anyone missed it, data about the first round is now persisted here http://transition.byteball.org/firstround.html.)

Wow, there are some real big ones... these are the ICO funds?



should award those who contributed and supported this coin instead of random coins that did ICOs.

The top addresses should be the ICO fund. I know ICONOMI, LIsk and Waves did, because the information is in the open, even ICONOMI posted it on their twitter page

[SatoNatomato]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

[Krypt]

Is it basically PoS, so ...

No, it is not.

[kaicrypzen]

Is there a market for blackbyte? Does slack have a channel for blackbyte?

Yes there is a market. On Slack, you can find buyers on the channels #trading_blackbyte and #trading. Also, you can auction your blackbytes off in the channel #auctionroom. You can also try posting an offer in this thread https://bitcointalk.org/index.php?topic=1728405.

[jwinterm]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

Right, but how is reputation and marketing in the real world determined algorithmically? If it's just number of votes, couldn't large ICO holders easily make the most txs and thus vote themselves as most reputable, especially when the coin is relatively small like now?

[SatoNatomato]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

Right, but how is reputation and marketing in the real world determined algorithmically? If it's just number of votes, couldn't large ICO holders easily make the most txs and thus vote themselves as most reputable, especially when the coin is relatively small like now?

Yes, that could happen, that is also (probably, tonych can explain better) why all witnesses cant be replaced at once, but only 1 replacement per some amount of events happening, think it was dependent on amount of Main Chain balls since witness was voted on. So the cost of your described scenario would be quite high - its doable by ICOs right now, but that would diminish plenty (maybe not all) of their existing bytes - in exchange for having 1 witness collecting fees.

And their witness would still not be used by others like me and you. The system allows all users 1 different witness from the others.

Seems like a bad trade/bad attack - and preferably they can just launch their witness and ask people to use it - thats much cheaper.

[tonych]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

Right, but how is reputation and marketing in the real world determined algorithmically? If it's just number of votes, couldn't large ICO holders easily make the most txs and thus vote themselves as most reputable, especially when the coin is relatively small like now?

This is where the system is anchored to the real world.  If someone feels that witness X should be replaced with witness Y for whatever reason, he can start a campaign and try to convince others to do the replacement (in the current version of the wallet, this can be done only manually in wallet settings).  While some people have already switched to the new witness list and some are still on the old one, all users are able to add their transactions to the DAG because a difference of 1 witness is allowed.  After the change has diffused throughout the network, a new change can be campaigned for and realized.

Obviously, no "votes" from anonymous users can be relied upon in a system with no barriers to entry.  ICO holders don't get any more power automatically just from holding larger bags.

[SatoNatomato]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

Right, but how is reputation and marketing in the real world determined algorithmically? If it's just number of votes, couldn't large ICO holders easily make the most txs and thus vote themselves as most reputable, especially when the coin is relatively small like now?

This is where the system is anchored to the real world.  If someone feels that witness X should be replaced with witness Y for whatever reason, he can start a campaign and try to convince others to do the replacement (in the current version of the wallet, this can be done only manually in wallet settings).  While some people have already switched to the new witness list and some are still on the old one, all users are able to add their transactions to the DAG because a difference of 1 witness is allowed.  After the change has diffused throughout the network, a new change can be campaigned for and realized.

Obviously, no "votes" from anonymous users can be relied upon in a system with no barriers to entry.  ICO holders don't get any more power automatically just from holding larger bags.

Can you explain more technically how the change of witness is diffused througout the network?

Which votes count, anybody making transactions? 1 vote per transaction?

Btw, does the amount of witnesses, 12, impose limits on transactions/second in any way, or latency for finality?

[tonych]

Exchange bot that allows to exchange BTC to Bytes and vice versa

The exchange is as easy to use as ShapeShift.  No registration required.  To buy Bytes, you start the chat, send Bitcoins, and a few minutes later you receive the Bytes.  Same for selling Bytes.  You can also create a pending order and hope to get a better deal.



The bot is running on testnet now, see the link at https://byteball.org/testnet.html (you'll need a separate wallet for testnet).

The exchange is trustful, it holds customers' funds, even if it is for a short time.  To minimize risks, the exchange runs through TOR, which makes its IP address unknown to the attackers.  Since it operates in chat and doesn't have to accept incoming connections, you can run the exchange bot even in your bedroom, with the added advantage of being behind NAT.

As another measure to minimize its liabilities and the associated risks, the exchange bot discourages pending orders that are too far from the market price by allowing withdrawals only in the opposite currency and by allowing to modify the order's price only when it accelerates its execution.

Full source code and install instructions are at https://github.com/byteball/btc-exchange.

Please test the exchange on testnet by clicking its link at https://byteball.org/testnet.html, any feedback is appreciated.

The exchange is now running on livenet, the link is at https://byteball.org.
Don't trade large amounts, this code is only 1 week old.

[DiCE1904]

wow thats really cool tonych, great job

[tonych]

Can anyone eli5 how the witnesses/validators are selected? Is it basically PoS, so that the large ICO Bitcoin addresses could basically run the network as they wish if they were so inclined?

They are selected by voting by users wallets, each user can change 1 of 12, and over time the bad one will be replaced with a good one. No its not built into protocol the selection of witnesses, its up to actual reputation and marketing in real world.

Right, but how is reputation and marketing in the real world determined algorithmically? If it's just number of votes, couldn't large ICO holders easily make the most txs and thus vote themselves as most reputable, especially when the coin is relatively small like now?

This is where the system is anchored to the real world.  If someone feels that witness X should be replaced with witness Y for whatever reason, he can start a campaign and try to convince others to do the replacement (in the current version of the wallet, this can be done only manually in wallet settings).  While some people have already switched to the new witness list and some are still on the old one, all users are able to add their transactions to the DAG because a difference of 1 witness is allowed.  After the change has diffused throughout the network, a new change can be campaigned for and realized.

Obviously, no "votes" from anonymous users can be relied upon in a system with no barriers to entry.  ICO holders don't get any more power automatically just from holding larger bags.

Can you explain more technically how the change of witness is diffused througout the network?

This part is the least technical, just more users accept the new witness list.

Which votes count, anybody making transactions? 1 vote per transaction?

As I said, there are no votes.

Btw, does the amount of witnesses, 12, impose limits on transactions/second in any way, or latency for finality?

Yes it does.  If we had 1 witness (which would be roughly equivalent to checkpointing that is used in some cryptocurrencies), transactions would confirm faster.  If more than 12, then slower.  See the chapter about finality in the whitepaper, we reach finality when we see the majority of witnesses on certain positions on the DAG.

[strasboug]

Exchange bot that allows to exchange BTC to Bytes and vice versa

The exchange is as easy to use as ShapeShift.  No registration required.  To buy Bytes, you start the chat, send Bitcoins, and a few minutes later you receive the Bytes.  Same for selling Bytes.  You can also create a pending order and hope to get a better deal.



The bot is running on testnet now, see the link at https://byteball.org/testnet.html (you'll need a separate wallet for testnet).

The exchange is trustful, it holds customers' funds, even if it is for a short time.  To minimize risks, the exchange runs through TOR, which makes its IP address unknown to the attackers.  Since it operates in chat and doesn't have to accept incoming connections, you can run the exchange bot even in your bedroom, with the added advantage of being behind NAT.

As another measure to minimize its liabilities and the associated risks, the exchange bot discourages pending orders that are too far from the market price by allowing withdrawals only in the opposite currency and by allowing to modify the order's price only when it accelerates its execution.

Full source code and install instructions are at https://github.com/byteball/btc-exchange.

Please test the exchange on testnet by clicking its link at https://byteball.org/testnet.html, any feedback is appreciated.

The exchange is now running on livenet, the link is at https://byteball.org.
Don't trade large amounts, this code is only 1 week old.

Good job. Is there a market for blackbyte / byte or blackbyte / BTC? If not, can users create any two pairs they want, or you have to create them?