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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1164599 times)
kola-schaar
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April 07, 2017, 06:21:55 PM
 #6461

The Man Behind
Pokémon
&
Yu-Gi-Oh
brands
Collect!
Trade!
Play!
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Adamlm
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April 07, 2017, 06:44:16 PM
 #6462

I've missed previous rounds of distribution... Found this altcoin today. Hope to receive something from 4th round.

Odrak
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April 07, 2017, 07:55:30 PM
 #6463

I've missed previous rounds of distribution... Found this altcoin today. Hope to receive something from 4th round.

You're still early Smiley
tonych
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April 07, 2017, 08:12:24 PM
 #6464

Now you can also P2P gamble using smart contracts.



The oracle FOPUBEUPBC6YLIQDLKL6EW775BMV7YOH (which also monitors Bitcoin blockchain) posts pseudorandom numbers derived from Bitcoin block hash.  A new number is posted every time a new Bitcoin block is mined and gets one further confirmation.  The random numbers are posted under data feed name randomXXXXXX where XXXXXX is Bitcoin block number.

The numbers are between 1 and 100,000.  You can bet on a future random number being less than or greater than a specific value, for example, there is 25% chance that the number will be below 25,000 and 75% chance that it'll be above 25,000.

The above contract was between my Mac and my phone, it was created before block 460852.  This is the data feed that was posted by the oracle after this block was mined:
https://explorer.byteball.org/#Ns//o52EKR32ykuHfUfcm3ailHtta6TvM5kB07vbpVA=
bitcoin_hash: 0000000000000000019dd457cf8e233701dab44ac855492d575a4366556213e0
bitcoin_height: 460852
bitcoin_merkle: GW9cQW5m0KLIi2suUlkzRP2yurg8jLEax3uHiun7kik=
random460852: 34789

34789 is more than 25000, the Mac won.

Join #gambling channel on our Slack http://slack.byteball.org/ to find a partner for P2P dice game.

P.S.  And we didn't need to do a $2m ICO to organize this simple game.

Simplicity is beauty
Odrak
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April 07, 2017, 08:21:51 PM
 #6465

Now you can also P2P gamble using smart contracts.



The oracle FOPUBEUPBC6YLIQDLKL6EW775BMV7YOH (which also monitors Bitcoin blockchain) posts pseudorandom numbers derived from Bitcoin block hash.  A new number is posted every time a new Bitcoin block is mined and gets one further confirmation.  The random numbers are posted under data feed name randomXXXXXX where XXXXXX is Bitcoin block number.

The numbers are between 1 and 100,000.  You can bet on a future random number being less than or greater than a specific value, for example, there is 25% chance that the number will be below 25,000 and 75% chance that it'll be above 25,000.

The above contract was between my Mac and my phone, it was created before block 460852.  This is the data feed that was posted by the oracle after this block was mined:
https://explorer.byteball.org/#Ns//o52EKR32ykuHfUfcm3ailHtta6TvM5kB07vbpVA=
bitcoin_hash: 0000000000000000019dd457cf8e233701dab44ac855492d575a4366556213e0
bitcoin_height: 460852
bitcoin_merkle: GW9cQW5m0KLIi2suUlkzRP2yurg8jLEax3uHiun7kik=
random460852: 34789

34789 is more than 25000, the Mac won.

Join #gambling channel on our Slack http://slack.byteball.org/ to find a partner for P2P dice game.

P.S.  And we didn't need to do a $2m ICO to organize this simple game.


Wow Tonych, you keep amazing me with these out of the blue, back to back, cool developments. Thanks once again for the update Smiley
CorePrime95
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April 07, 2017, 08:57:27 PM
 #6466

Wow Tonych, you keep amazing me with these out of the blue, back to back, cool developments. Thanks once again for the update Smiley

Yes, Tony delivers quality while others produce hot air! Byteball wipes the floor with all the shitty, nonfunctional ICOs.
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April 07, 2017, 09:18:31 PM
Last edit: April 07, 2017, 09:35:02 PM by drays
 #6467

I was missing here for some time... Sorry if this is answered somewhere down the thread - my question is whether it is possible to trade Bytes vs BlackBytes using the trading bot? Trading bot seems to be the best place for such functionality, I suppose it should be there, but cannot find it by some reason... Undecided



On different topic: @tonych - you are awesome. Though, well... I think you know that already Smiley

... this space is not for rent ...
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April 07, 2017, 09:47:19 PM
 #6468


Definitely impressed with your releases tony, good work.
tonych
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April 07, 2017, 10:02:05 PM
 #6469

I was missing here for some time... Sorry if this is answered somewhere down the thread - my question is whether it is possible to trade Bytes vs BlackBytes using the trading bot? Trading bot seems to be the best place for such functionality, I suppose it should be there, but cannot find it by some reason... Undecided



On different topic: @tonych - you are awesome. Though, well... I think you know that already Smiley

Welcome back Smiley Trading is possible, no bots, just peer-to-peer: https://medium.com/byteball/making-p2p-great-again-fe9e20546a4a

Simplicity is beauty
yvv
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April 07, 2017, 10:13:48 PM
 #6470

Now you can also P2P gamble using smart contracts.
...

But this is not how prediction market is actually supposed to work. PM is a group contract, when many people bet on the outcome of the same event, then the pot is distributed between those who guessed right according to their bets. If everybody guess right, nobody wins. The winner is the guy who bets against the crowd when the crowd is wrong.

.
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April 07, 2017, 10:34:25 PM
 #6471

Now you can also P2P gamble using smart contracts.
...

But this is not how prediction market is actually supposed to work. PM is a group contract, when many people bet on the outcome of the same event, then the pot is distributed between those who guessed right according to their bets. If everybody guess right, nobody wins. The winner is the guy who bets against the crowd when the crowd is wrong.


This is just the beginning.
ByteFan
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April 08, 2017, 06:05:31 AM
 #6472



If you just want to help out the network running a byteball-hub or relay is enough.



I have set up and now operating a new relay on a dedicated box with 300Mbps unmetered bandwidth.
Address: wss://byteball.fr/bb
Location: France

I have more than 15 years experience with Linux sysadmin. I can set up a witness if the the community asks.

Byteball payment gateway for web merchants https://byteball-for-merchants.com/ - BEEB  (Blackbytes Exchange Bot): https://www.beeb-bot.com/ (closed)
Network map, stats, Top Richests and Byteball world map at https://byteball.fr/ (closed) - Hub operator featuring the cashback witness https://byteball-cashback-witness.com (closed)
ByteFan
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April 08, 2017, 09:06:03 AM
 #6473

I love thisproject however I have a problem with the witnesses choose mecanism, aka "12 catpains of industry" or well reputed equivalent.

First (and biggest one) : who is to coopte such "captains". In a supposed decentralysed network it means a central authority somewhere or at least a consensus voting system.
Second : what if no such "captain of industry" joins in? Should we bless project founders for eternity ? (we all die some day).
Three : 12 is a too limited number. This is intentionaly set so that we can humanely follow the witnesses quality. But I do not want to ask periodicaly myself whereas witnesses are good quality or not. I just want to feel confident with the network any time.

I would suggest the following :
- no more limited witnesses number
- all wallets could optionnaly run as witnesses
- if a end-user wishes to act as a witness is has to back some "good" amount of GBYTE (prevent spam and initial amount  for serial post).
- each time a witness serial post he is awarded  more than its post cost (aka end users are prone to become witnesses for profit)
- wallets choose their witnesses in a hard-coded random fashion among all witnesses pool.

Byteball payment gateway for web merchants https://byteball-for-merchants.com/ - BEEB  (Blackbytes Exchange Bot): https://www.beeb-bot.com/ (closed)
Network map, stats, Top Richests and Byteball world map at https://byteball.fr/ (closed) - Hub operator featuring the cashback witness https://byteball-cashback-witness.com (closed)
sherlock_h
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April 08, 2017, 09:37:37 AM
 #6474

Good questions. I'm not sure if that's the best way, such aspects make it seem a bit centralized, but perhaps not a design flaw. If the focus is usability, this seems to be necessary to make the system scale more efficiently.

⚪ Byteball (https://byteball.org/)     ❱❱❱     I T   J U S T   W O R K S .    ❱❱❱
Sending Crypto to Email  -  Risk-Free Conditional Smart Payments  -  ICO Platform with KYC
ANN THREAD (https://bitcointalk.org/index.php?topic=1608859.0)          TELEGRAM (https://t.me/byteball)          TWITTER (https://twitter.com/ByteballOrg)          MEDIUM (https://medium.com/byteball)          SLACK (https://slack.byteball.org/)          REDDIT (https://www.reddit.com/r/ByteBall/)
cybterpunk
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April 08, 2017, 09:40:43 AM
 #6475

one of the great project in this year.

better than Ethereum
Karartma1
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April 08, 2017, 10:52:33 AM
 #6476

Now you can also P2P gamble using smart contracts.
...

But this is not how prediction market is actually supposed to work. PM is a group contract, when many people bet on the outcome of the same event, then the pot is distributed between those who guessed right according to their bets. If everybody guess right, nobody wins. The winner is the guy who bets against the crowd when the crowd is wrong.


This is just the beginning.
I second that.
This project is amazing

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
_sunshine_
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April 08, 2017, 11:04:29 AM
 #6477

how exactly work multisig? If you choose multisig 2/3, make full backups on devices and lose three phones, can you restore access to wallet on new devices with help backups?
tonych
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April 08, 2017, 11:24:30 AM
 #6478

I love thisproject however I have a problem with the witnesses choose mecanism, aka "12 catpains of industry" or well reputed equivalent.

First (and biggest one) : who is to coopte such "captains". In a supposed decentralysed network it means a central authority somewhere or at least a consensus voting system.
Second : what if no such "captain of industry" joins in? Should we bless project founders for eternity ? (we all die some day).
Three : 12 is a too limited number. This is intentionaly set so that we can humanely follow the witnesses quality. But I do not want to ask periodicaly myself whereas witnesses are good quality or not. I just want to feel confident with the network any time.

I would suggest the following :
- no more limited witnesses number
- all wallets could optionnaly run as witnesses
- if a end-user wishes to act as a witness is has to back some "good" amount of GBYTE (prevent spam and initial amount  for serial post).
- each time a witness serial post he is awarded  more than its post cost (aka end users are prone to become witnesses for profit)
- wallets choose their witnesses in a hard-coded random fashion among all witnesses pool.

First of all, I remind you that following the witness lists of "captains of industry" is just a suggestion how witness lists could be updated, it is not a protocol-level thing.

That said, I don't think the question of captains of industry is that hard.  If you ask me about captains of auto industry today, I would name GM, Ford, Toyota, Renault, Michelin, and a few others.  In Bitcoin industry today: AlphaBay, Coinbase, Localbitcoins, Overstock, Polo, and a few others.

Quote
But I do not want to ask periodicaly myself whereas witnesses are good quality or not.
You don't have to.  If you don't want to or feel unable to make decisions yourself in this particular area, you can always follow the opinion of someone you trust.

To clarify, there is no such thing as "wish to act as a witness", you can only "wish to be named as a witness".  Anyone can be named a witness by anyone.

The above was 100% human, 0% technical.  Regarding suggested protocol changes, all such changes should be carefully analyzed with respect to potential consequences, in particular whether they could lead to consensus failures such as forks and deadlocks.

Simplicity is beauty
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April 08, 2017, 11:41:24 AM
 #6479

It is too bad I wasn't already wealthy in bitcoin so I could be wealthy in byteball, too.

I understand why the distribution needed to be done this way, but byteball doesn't much appeal to me (like all coins that distribute proportionally to prior wealth) because the same exact people who control the majority of wealth in bitcoin get to control the majority of wealth in byteball, without taking on any additional risk (there's no risk at all since there's no investment through mining or otherwise, so obviously risk is not proportional/does not scale at all). In other distribution models of course the wealthier you are to begin with the more you can get by investing more, but you also take on more risk proportional to how much you invest. Here the rich just get richer.

Not to mention all the projects with huge sums of bitcoin from ICOs that get huge amounts of byteball wealth off the backs of their investors. And the exchanges that get huge amounts of byteball wealth off the backs of their users.

So while the tech here appears to be groundbreaking the economics are more than a bit discouraging.
If the exchange is not allowed to bind BTC, you can solve the problem of unfair distribution。
SatoNatomato
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April 08, 2017, 12:25:21 PM
 #6480



If you just want to help out the network running a byteball-hub or relay is enough.



I have set up and now operating a new relay on a dedicated box with 300Mbps unmetered bandwidth.
Address: wss://byteball.fr/bb
Location: France

I have more than 15 years experience with Linux sysadmin. I can set up a witness if the the community asks.
Awesome!

Your hub will be auto-discovered by the rest of the network and use it, thus helping with the load.
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