Obyte: Totally new consensus algorithm + private untraceable payments

[yvv]

If you cannot exchange the blackbytes, how do they get their value?

You can. Why not?

[BadAss.Sx]

I thought blackbytes were not tradeable..where can i trade them?

[Karartma1]

I thought blackbytes were not tradeable..where can i trade them?

slack channel, or p2p trades with someone here (use escrow)
there's also an exchange bot in the wallet

[yvv]

I thought blackbytes were not tradeable..where can i trade them?

For now, only OTC. Check #trading_blackbytes at byteball.slack.com. Rumors say that automated trade bot is coming soon.

[kola-schaar]

[BadAss.Sx]

Ok thanks everyone

[tonych]

Dear hodlers,

The time has come to put your bytes into real use.

We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.

Starting today, you can use your bytes to buy or sell insurance against flight delay.
Some of you might be going to fly in the near future.  Buy insurance from peers and get paid if your flight is delayed.  
If you are selling insurance, you have opportunity to make a profit, thus earning interest on your holdings (with correct risk management, of course!).

Before buying/selling, learn stats about your flight to estimate the probability of delay and decide how much you are willing to pay (if buying) or ask (if selling).  Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com

Then post your offer in #p2p_insurance channel on our slack.

I'm going to fly to Dalaman (Turkey) via Istambul, and to get this market going, I ask you to insure my flights:
TK420 on Apr 30
TK2554 on Apr 30
TK2561 on May 9
TK413 on May 10

I'm willing to pay 10% for insurance against delay of 15 minutes or more, or 5% for insurance against delay of 30 minutes or more (I didn't actually research the stats and don't know how fair these premiums are, but a disbalance of supply and demand will tell me if I'm wrong).  Each flight is a separate contract, and I'll be more than happy to buy from different sellers.

[nillohit]

Dear hodlers,

The time has come to put your bytes into real use.

We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.

Starting today, you can use your bytes to buy or sell insurance against flight delay.
Some of you might be going to fly in the near future.  Buy insurance from peers and get paid if your flight is delayed.  
If you are selling insurance, you have opportunity to make a profit, thus earning interest on your holdings (with correct risk management, of course!).

Before buying/selling, learn stats about your flight to estimate the probability of delay and decide how much you are willing to pay (if buying) or ask (if selling).  Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com

Then post your offer in #p2p_insurance channel on our slack.

I'm going to fly to Dalaman (Turkey) via Istambul, and to get this market going, I ask you to insure my flights:
TK420 on Apr 30
TK2554 on Apr 30
TK2561 on May 9
TK413 on May 10

I'm willing to pay 10% for insurance against delay of 15 minutes or more, or 5% for insurance against delay of 30 minutes or more (I didn't actually research the stats and don't know how fair these premiums are, but a disbalance of supply and demand will tell me if I'm wrong).  Each flight is a separate contract, and I'll be more than happy to buy from different sellers.

This is amazing......absolutely amazing ...... thank you very much 

[bobo012]

Can't believe the speed these upgrades are coming. Great work

[LoyceV]

We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.

This leaves me with the same question I've had since I first read about smart contracts: how is the smart contract going to know what happened in real life?
From your link:

We have an oracle that monitors flight delays.

How does this oracle know? I can believe the smart contract structure can work, so you don't need to trust any third party insurance company on this, but you now move the uncertain factor elsewhere.

Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com

I have the same question here: what if these sites are wrong? If you rely entirely on a third party website, you're copying all possible flaws they have. How is this better than using an actual insurance company?

Don't get me wrong, I like your projects, just curious if the flaws I can think of can be prevented.

[SatoNatomato]

We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.

This leaves me with the same question I've had since I first read about smart contracts: how is the smart contract going to know what happened in real life?
From your link:

We have an oracle that monitors flight delays.

How does this oracle know? I can believe the smart contract structure can work, so you don't need to trust any third party insurance company on this, but you now move the uncertain factor elsewhere.

Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com

I have the same question here: what if these sites are wrong? If you rely entirely on a third party website, you're copying all possible flaws they have. How is this better than using an actual insurance company?

Don't get me wrong, I like your projects, just curious if the flaws I can think of can be prevented.

You trust the oracle, the oracle knows because it is asking/requesting the data from flightstats.com it would be possible to construct the oracle so it uses more sources, but even an normal insurance company has to trust someone to tell when a flight has landed or not.

If the oracle lies but flightstats.com does not, you may be tricked, but in that case its open to the public and you can show that the oracle lied - hence the oracle can go to hell and nobody will use it again.

Its better than an insurance company because even me and you can be the insurer now, and more transparent than dealing with them.

[yvv]

If the oracle lies but flightstats.com does not, you may be tricked, but in that case its open to the public and you can show that the oracle lied - hence the oracle can go to hell and nobody will use it again.

The problem is that this is anonymous oracle. It can lie once, in case it is caught simply make another wallet, and continue to lie.

[SatoNatomato]

If the oracle lies but flightstats.com does not, you may be tricked, but in that case its open to the public and you can show that the oracle lied - hence the oracle can go to hell and nobody will use it again.

The problem is that this is anonymous oracle. It can lie once, in case it is caught simply make another wallet, and continue to lie.

The flight oracle is run by tonych so there is too much incentive for him not to lie, and he has very much already earned street cred.

Most oracles should not be anonymous though, unless you think shady deals.

[portabella]

Great features! Nice developments.

Reminder for people in here, you can use my witness
7ULGTPFB72TOYA67YNGMX2Y445FSTL7O to replace JEDZYC2HMGDBIDQKG3XSTXUSHMCBK725.

Also, I run a few hubs, byteroll.com if you are in Europe, s.byteroll.com if you are in Asia, and e.byteroll.com if you are in America. You can use them without using my witness, to offload the main hub.

[yvv]

The flight oracle is run by tonych

How can I make sure of this? Anybody can download oracle code from github, modify it to feed a crappy data and run. How can I connect oracle address with RL identity?

[Naokia980]

What about witness?

[naska21]

Great features! Nice developments.

Reminder for people in here, you can use my witness
7ULGTPFB72TOYA67YNGMX2Y445FSTL7O to replace JEDZYC2HMGDBIDQKG3XSTXUSHMCBK725.

Also, I run a few hubs, byteroll.com if you are in Europe, s.byteroll.com if you are in Asia, and e.byteroll.com if you are in America. You can use them without using my witness, to offload the main hub.

I looked on  stat of your witness. Around 4.5 % activity on net. Is this enough to trust?

[tonych]

The flight oracle is run by tonych

How can I make sure of this? Anybody can download oracle code from github, modify it to feed a crappy data and run. How can I connect oracle address with RL identity?

This oracle GFK3RDAPQLLNCMQEVGGD2KCPZTLSG3HN  is one of the witnesses that I run, you can find this address in your wallet and in every tx on explorer.

[portabella]

What about witness?

It is the second witness to be run by an independent community person, me.

The purpose is to show that

1) witness of the creator can be replaced by the community,

2) to test and verify witness-parts of the code, or just one more witness running on the network and its effects,

3) to assess social/community aspects of the process, and last but not at all the least,

4) to earn for me some fat profits. In fact, if the profits are so fat, I would gladly also share the profits of the fees with EFF, GNU, Wikipedia and other cool organizations. Right now, there has been no profit-earning and just bytes loosing as running the witness looses bytes, but oh well.

Great features! Nice developments.

Reminder for people in here, you can use my witness
7ULGTPFB72TOYA67YNGMX2Y445FSTL7O to replace JEDZYC2HMGDBIDQKG3XSTXUSHMCBK725.

Also, I run a few hubs, byteroll.com if you are in Europe, s.byteroll.com if you are in Asia, and e.byteroll.com if you are in America. You can use them without using my witness, to offload the main hub.

I looked on  stat of your witness. Arround 4.5 % activity on net. Is this enough to trust?

The witness has a high up-time, but due to the nature of witness-es, I cant run it with a High-Availability configuration / automatic-failover in case when ISP/hardware fucks up, due to the small risk of accidentally having the same witness running at same time but posting different units - that is a recipe for disaster.

The stat means 4.5% of all transactions have my witness selected, 7ULGTPFB72TOYA67YNGMX2Y445FSTL7O, but to be honest, if I was you I wouldnt trust me. Not yet, trust takes time, a lot of time. But if you are willing to experiment and wish to push/see another witness than default from creator, faster. Do it!

Remember, you can always switch back or to another witness.

[yvv]

The flight oracle is run by tonych

How can I make sure of this? Anybody can download oracle code from github, modify it to feed a crappy data and run. How can I connect oracle address with RL identity?

This oracle GFK3RDAPQLLNCMQEVGGD2KCPZTLSG3HN  is one of the witnesses that I run, you can find this address in your wallet and in every tx on explorer.

Ok, fair enough.