Obyte: Totally new consensus algorithm + private untraceable payments

[kaicrypzen]

I have confirmed my byteball and bitcoin addresses they are on http://transition.byteball.org/ but it says my balance is zero when i have bitcoin in that address?  

Also, remember that when you link by doing a micropayment, your funds are very likely to be transferred to a change address (which is under your control) and that you might have to send your funds back to your original linked address.

What does the block explorer say about your address? You surely have bitcoins in your wallet but not in the linked address (because they were transferred as change to another address in your wallet when you made the micropayment). You just need to send your funds to your linked address.

Thank you for the reply, I changed method and tryed again. I setup an exodus wallet on my laptop and sent the micro transaction from that wallet which got confirmed and shows on your explorer correctly but stills says my balance is zero  

You want to link btc_addr1 to bb_addr1 doing a micropayment. When you send the micropayment m to bot_btc_addr, here is what happens:

btc_addr1 -> bot_btc_addr : m
btc_addr1 -> btc_addr2 : total_balance - m

btc_addr2 is what is called you change address, when you do a transaction, the remaining funds go to a new address in your wallet (btc_addr2 in that case). The consequence is:

btc_addr1 is linked.
btc_addr1 balance is 0.
btc_addr2 balance is total_balance - m (let's say it's your balance).

Your next action, is to send your balance to btc_addr1. (There is no need to know what btc_addr2 is.)

Normally, the bot tells you this (to send your funds to the linked address). The bot tells you it's 0 because it is 0 (you can check the balance of your address in a Bitcoin block explorer like blockchain.info to be sure that the bot doesn't lie ).

[kola-schaar]

...

Normally, the bot tells you this (to send your funds to the linked address). The bot tells you it's 0 because it is 0 (you can check the balance of your address in a Bitcoin block explorer like blockchain.info to be sure that the bot doesn't lie ).

This is always very very friendly of you (to explain the Basics / to get newbies in). I knew what his problem was, but I would have used a half-page to explain it. We will need your post many times.

[tonych]

Will there be a way to backup private assets via a seed in the future?

I love paper wallets and it's a shame I can't make one for Blackbytes!

Impossible by design.  Too much information to fit on piece of paper.

How much data are we talking about?

If you can store the right amount of data on a blockchain/DAG, you can store an encrypted backup there. Then, all you'd need would be
a) the passphrase/seed to decrypt the data
b) some means to find the relevant data on the blockchain/DAG.

You wouldn't need a dedicated function for it, you could do it on your own. You could store it on some other blockchain as well, if you'd want to.

Obviously, you'd have to pay for the transaction when storing data, so this would probably be only suitable for long term holding.

It's megabytes, and you'll have to re-encrypt and store the data again every time it changes.
I'm afraid it would be too expensive to store your personal data in Byteball.  Byteball was designed to store data of social value: data that matters for all members of the ecosystem who transfer money-like assets to each other and need the database to track their origins and verify their validity.  When you are not using these features and only using plain storage, you are overpaying.

[Karartma1]

Can anyone recommend a bitcoin wallet to send the micro transaction from. two of the wallets i use wont allow micro transactions and having a problem with blockchain.info

use signing function in the core btc wallet instead micro transactions:

1. file → sign message
2. enter a btc address in the first field
3. enter the message u want to sign in the second field
4. press «sign message» → copy out the signature

The same game if you use Mycelium for Android
1. Go to Accounts → Select the Account in which there is your BTC address
2. Click on the menu → Sign Message
3. enter your PIN code → Select Key for Signing
4. enter the message you want to sign
5. press Sign Message → copy out the signature

Simple and clean

[kola-schaar]

Sent my transaction from my bitgo wallet and received this message from Transaction bot

I received 0.0015 BTC from 3QcomrVZo8T7XARRVYziJg3B8BqkzcZs2D but this transaction looks like it was sent from an exchange, which is not allowed. Please send BTC only from a wallet that you own private keys for. If you think it was a mistake, please contact tonych@byteball.org

why do they think its an exchange?

The 3 upfront indicates a "unusual" address: https://en.bitcoin.it/wiki/Pay_to_script_hash

That's probably how the transition bot recognizes possible exchange addresses.

The 3 in the front is not the cause (but an indicator). I used a multisig / multidevice wallet (2 of 3 for security and backup) based on elektrum.
Every multisig BTC adress has a 3 in front – no problem.
Before I've tried electrums 2fa. http://Http://docs.electrum.org/en/latest/2fa.html
2fa at elektrum is also a 2 of 3 multisig implementation, but there is a second party: The remote server in question is a service offered by TrustedCoin.
So I got the same error message:
“.. this transaction looks like it was sent from an exchange..“ (Because TrustedCoin was in as a cosigner.)

Tony has just described the cause:

....
I already replied you by email:

See here https://blockchain.info/address/3QcomrVZo8T7XARRVYziJg3B8BqkzcZs2D, there are too many outputs that’s why we detect it as an exchange (transactions sent from regular wallet usually have 2 outputs).  Please use a wallet where you control the private keys.

There is, however, another limitation with Multisig: You can only link to BB by micrpayment => TX (you can check that here http://transition.byteball.org/ ).

Last week I received my “ledger nano s” – this is a really nice baby (There is a tutorial in the forum how to link ).
I would be incredibly happy if there was something similar later for byteball.

[ttookk]

Will there be a way to backup private assets via a seed in the future?

I love paper wallets and it's a shame I can't make one for Blackbytes!

Impossible by design.  Too much information to fit on piece of paper.

How much data are we talking about?

If you can store the right amount of data on a blockchain/DAG, you can store an encrypted backup there. Then, all you'd need would be
a) the passphrase/seed to decrypt the data
b) some means to find the relevant data on the blockchain/DAG.

You wouldn't need a dedicated function for it, you could do it on your own. You could store it on some other blockchain as well, if you'd want to.

Obviously, you'd have to pay for the transaction when storing data, so this would probably be only suitable for long term holding.

It's megabytes, and you'll have to re-encrypt and store the data again every time it changes.
I'm afraid it would be too expensive to store your personal data in Byteball.  Byteball was designed to store data of social value: data that matters for all members of the ecosystem who transfer money-like assets to each other and need the database to track their origins and verify their validity.  When you are not using these features and only using plain storage, you are overpaying.

Yeah, that's too much. Well, you could still use a storage coin or IPFS to store a backup.

[jacaf01]

Why... Look at that big fat red candle 

I think we should see the big picture here, not the daily chart, Byteball has more to offer than the present price, the price will surely pick up soon and thanks most of it is obtained free not bought through ICO

[freezal]

Hi tonych,

Shower thought (almost certainly a stupid one as always happens when you don't exert deep thinking, as I haven't finished reading the white paper, and have no time right now to research feasibility):

Would it be possible to optionally (because it changes somewhat the privacy/anonymity model) save assets (including blackbytes) in the public DAG as a compressed and encrypted payload (not much differently of what is saved locally today) paying due commissions?
Maybe we could now use a different seed for each asset to generate private keys for them and some hash of these to encrypt assets payload after each transaction.
Wallets would scan the DAG trying to decrypt asset payloads to get balance and history (some optimizations may apply).
Somehow old saved payloads in the DAG could be pruned as assets carry their own history.

Pro:
- Massive improvement in usability, no need to back-up local assets after each transaction (simplicity is beauty).
Cons:
- Privacy model changes (thus to use it optionally) as now assets history only remains private as long as no one discover a way to decrypt the payload which is now publicly available.
- Increased storage requisites for the DAG (but it'd be optional and has costs)

If it were possible, users would have to store huge numbers of decryption keys because every payload has to be encrypted with its own key.  

The idea was to generate those encryption keys from the random generated seed.  When you need a random address for bytes you calculate/generate it from the seed.  Encryption keys could be generated from a seed too (one seed for each asset class maybe for security reasons, i.e. one for blackbytes, other for asset X and etc.). If they are generated from a seed, only the seed need to be saved (one time operation).
If you already generate private keys from a seed for each non spended asset (I don't really know), you could generate encryption keys from those pks by calculating some hash from them, not needing an extra seed only for the encryption keys.

I assume you are not suggesting system-wide seed which would then be known by everybody

Certainly not , I meant "one seed per each asset class" within each wallet.

Thank you for all clarifications.
This whole thing increasingly looks like a solution in search of a problem now.

I feel now like wasting your time and rather go back to the white paper, but I'd like to clarify one last point: see below

If the seeds are per user, the problem remains.  A user can encrypt his own transactions but he has to also store and forward (when sending balckbytes) the coin histories which include previous transactions created by other users.  Then he has to know the keys that these previous owners used to encrypt their private payloads, and the number of these keys is as large as the number of previous owners of each coin.

I meant to say that when you receive the asset you receive all its past historic data, like today I think. You'd receive the whole thing unencrypted from the sender.
Then you'd encrypt it with a seed generated new key of yours  and save everything back as a payload in the public DAG (forget about compression as this data probably shouldn't compress well anyway, addresses, signatures, etc.).
When it comes time to send these tokens to someone, your wallet would have retrieved it from the DAG, unencrypt it with you key (calculated from your seed), maybe save it in your local database (which now function as a local cache) as it does today, generate the new transaction and send it to the counterpart using the same mechanism as it does today. Then the process would repeat all over again by the new receiver.
Note that after each transaction reaches finality state, the payload of the previous transaction could somehow be pruned as not needed. As today any owner of a token could only access previous history of it and wouldn"t be allowed to see future transactions.

The best solution of the backup problem is imho multisig.

Yes, this works but maybe not for all scenarios.
For high values and strict security models of some institutions (for instance, cold wallets) it's hard to imagine that your back-up depend on many devices on-line syncing between them. If the other idea works (which is unlikely cause it must have any number of flaws), only the seeds would need to be backed-up.

I see your point.  I'm suggesting multisig for hot wallets as used by regular users, it allows to avoid the pain of having to backup after each transaction.
When you use cold wallets, I assume that convenience is not your primary concern and the transactions are rare, in this case having to backup after each transaction is not such a big issue compared with other steps you have to do to unlock the cold wallet.

Note that you can split the backup into two parts: the seed, which is small and can be stored on paper wallet, and the private payloads stored in the sqlite database.  Even if the private payloads are stolen, they cannot be used without the seed, hence your privacy might be affected but the security is not compromised.

[ikm]

It was a very nice buy-out opportunity to buy at least 20% profitable.   

[Limx Dev]

It was a very nice buy-out opportunity to buy at least 20% profitable.   

I think 0.08 is a good price to buy. Byteball is a great innovation and Iota had allready a marketcap over 20 MIO.

[temmuz]

It was a very nice buy-out opportunity to buy at least 20% profitable.   

I think 0.08 is a good price to buy. Byteball is a great innovation and Iota had allready a marketcap over 20 MIO.

A coin I have in my future projects. Declines are the buying opportunity, usually in solid coins. If the heliki is traded on a good exchange he can make a profit over the forecasts.

[Jeff Jefferson]

whats up with that crazy sell walls. obviously someone wants to keep the price low.

[Limx Dev]

whats up with that crazy sell walls. obviously someone wants to keep the price low.

Yes that  is crazy for a little Exchange.

[torikan]

whats up with that crazy sell walls. obviously someone wants to keep the price low.

Yes that  is crazy for a little Exchange.

We are even more pleased with such a change when our money is small.
Poverty is such a thing.

[provenceday]

sooner or later, byteball will become a top10 coin.
just need some exchange platform to support.

when i post, byteball only have a 2000BTC marketcap, right now it's 9300BTC.

so still a long way to go until byteball reach top 10 coin.

3 projects in 2017:
Byteball/Qtum/Elastic

(1) Byteball: DAG
(2)Qtum:Bitcoin+EVM+POS3.0
(3)Elastic is better than Golem

[escapefrom3dom]

sooner or later, byteball will become a top10 coin.
just need some exchange platform to support.

when i post, byteball only have a 2000BTC marketcap, right now it's 9300BTC.

so still a long way to go until byteball reach top 10 coin.

3 projects in 2017:
Byteball/Qtum/Elastic

(1) Byteball: DAG
(2)Qtum:Bitcoin+EVM+POS3.0
(3)Elastic is better than Golem

buckle your seatbelts – the future is coming. ☺

[realbigs21024]

Why is this not on any major exchanges

[btw50]

byteball was the most expensive coin after btc at 100 . soon will be equal to btc dont you think ?

[escapefrom3dom]

byteball was the most expensive coin after btc at 100 . soon will be equal to btc dont you think ?

looks true.

and u know why?

cause i made several btc transactions and they are pending for longer than 1 hour... btc was good but today – we've got better stuff.

[escapefrom3dom]

What are the different denominations of Byteball?

look at 26. Fixed denominations assets in https://byteball.org/Byteball.pdf