Obyte: Totally new consensus algorithm + private untraceable payments

[Come-from-Beyond]

This is unlikely to do any harm to network. You have to invest 5000 Gb or so.

Who said I need to do a harm? IOTA and Byteball target market niches which are barely intersected, no reason even to compete.

[1714039181]

1714039181

[1714039181]

1714039181

[1714039181]

1714039181

[r0ach]

I recommend you to wait for my Byteball test report. I have already spotted things which need to be improved, once they are fixed the price will shoot up. Just accumulate more GBs now.

First, let's discuss the main problems with Iota vs Byteball:

1)  Anti-spam PoW (unprofitable PoW) for emails was entirely designed for one-offs.  You put in some labor and the state changes from 0 to 1 once it's been satisfied and this information is now meaningless and can be thrown away afterwards.  Satoshi decided that in order to chain the past to the future in a continous ledger, he would need to create a linked list with a get rich quick scheme built on top of it, otherwise there are no incentives for the burden associated with the cost of holding this data forever.  

It seems like IOTA was invented (unprofitable PoW) while ignoring everything Satoshi learned needed to be utilized in order to launch the bitcoin scheme.  True, Iota could utilize a form of pruning, thus correcting the incentives problem and dragging it back to more like email PoW in nature, but then you have a very fragile, unsound money system with no valid form of state recovery if it goes down.

I'm not saying bitcoin is sound money, because it's not.  It doesn't function as a store of value due to price floor being recursive based on it's own demand, meaning you can always mine an endless stream of coins as transaction fees at the new floor and the floor can crater to nothingness at any time unless bitcoin was the unit of account of something (but it never will be since it doesn't function as a store of value - chicken and egg scenario).

Most attempts to increase bitcoin scalability in altcoins, and thus lower redundancy, seem to make it even less sound money where you can no longer trick people into believing it's money at all.  People will see how fragile they are and treat them as they should be, just as a throwaway currency like airline miles instead of pretending they are a valid store of value like gold or silver.

As for Byteball:

2)  Is there really a purpose in a, hmm how to describe it in general, a branching/multi-threaded/non-linear system like a DAG if you're just using bitshares-style consensus to force convergence and make it linear in a single path again?

[Come-from-Beyond]

Iota

Enough off-topic for today.

[r0ach]

Iota

Enough off-topic for today.

Hey, it was DAG related and there was Byteball commentary too.  Or was that paragraph too dangerous for the great come from beyond to tackle?

[Come-from-Beyond]

Hey, it was DAG related and there was Byteball commentary too.  Or was that paragraph too dangerous for the great come from beyond to tackle?

That was a polite form to tell that I have more interesting things to do than discussing anything with you. 

[yvv]

This is unlikely to do any harm to network. You have to invest 5000 Gb or so.

Who said I need to do a harm? IOTA and Byteball target market niches which are barely intersected, no reason even to compete.

But you were going to stress test. What kind of stress is this, freaking 5 Gb??

[r0ach]

Hey, it was DAG related and there was Byteball commentary too.  Or was that paragraph too dangerous for the great come from beyond to tackle?

That was a polite form to tell that I have more interesting things to do than discussing anything with you.  

So we can expect IOTA premine dump for lambos today?

[Come-from-Beyond]

But you were going to stress test. What kind of stress is this, freaking 5 Gb??

I haven't done the test yet, still syncing.

[kola-schaar]

[Birkensekt]

For top50 cryptocoins 7 day performens byteball belong to best 3, impressiv strength, i think.

[onetwo12]

one of the best coin in 2017

i am happy i am holding it.


that's really great!

[ttookk]

You are the Dev from Iota?

During day I work on hardware for IOTA, during night I test other cryptoplatforms.

Are you at least wearing a cape at night?

By the way, I don't follow this thread too much, have you run your stress test yet? Is there a date?

[Come-from-Beyond]

Are you at least wearing a cape at night?

By the way, I don't follow this thread too much, have you run your stress test yet? Is there a date?

synced 4.6 GB, how much left?

[EcuaMobi]

Are you at least wearing a cape at night?

By the way, I don't follow this thread too much, have you run your stress test yet? Is there a date?

synced 4.6 GB, how much left?

At the moment my byteball.sqlite is 4.99GB

[CryptoRobert]

Which percentage of the coins has still to be distributed?

[sartech]

Which percentage of the coins has still to be distributed?

around 25.5% was distributed till now. you have time to buy BB/ or bitcoins and get some Byteballs .  9 JULY is the date when you need to have them in your personal wallet. GL and sell BB

[Herbert2020]

i have some questions
1. is there a walkthrough for installing the wallet and running it in lite mode (i have just started downloading the installation file so i don't know if it is required!)
2. how big will the wallet size be if i run it in lite mode
3. why don't you provide digital signatures for the installation files. it is an absolute necessity for security reasons!
4. can i claim the airdrops through the android wallet

[naska21]

i have some questions
1. is there a walkthrough for installing the wallet and running it in lite mode (i have just started downloading the installation file so i don't know if it is required!)
2. how big will the wallet size be if i run it in lite mode
3. why don't you provide digital signatures for the installation files. it is an absolute necessity for security reasons!
4. can i claim the airdrops through the android wallet

1. Just install, after launch choose lite mode as an option
2. Right now the size of my byteball folder for light client is less than 40 MB
3. Q to tonych
4. Yes, you can when its address is linked  and/or has byteballs on it

[Herbert2020]

i have some questions
1. is there a walkthrough for installing the wallet and running it in lite mode (i have just started downloading the installation file so i don't know if it is required!)
2. how big will the wallet size be if i run it in lite mode
3. why don't you provide digital signatures for the installation files. it is an absolute necessity for security reasons!
4. can i claim the airdrops through the android wallet

1. Just install, after launch choose lite mode as an option
2. Right now the size of my byteball folder for light client is less than 40 MB
3. Q to tonych
4. Yes, you can when its address is linked  and/or has byteballs on it

thanks for the answer. it is strange that the installation file is 115 MB (for linux).
and it seems like it is just me that wants to verify a signature after downloading an installation file since this topic is nearly a year old
i hope OP checks this.

[cybterpunk]

I recommend you to wait for my Byteball test report. I have already spotted things which need to be improved, once they are fixed the price will shoot up. Just accumulate more GBs now.

First, let's discuss the main problems with Iota vs Byteball:

1)  Anti-spam PoW (unprofitable PoW) for emails was entirely designed for one-offs.  You put in some labor and the state changes from 0 to 1 once it's been satisfied and this information is now meaningless and can be thrown away afterwards.  Satoshi decided that in order to chain the past to the future in a continous ledger, he would need to create a linked list with a get rich quick scheme built on top of it, otherwise there are no incentives for the burden associated with the cost of holding this data forever.  

It seems like IOTA was invented (unprofitable PoW) while ignoring everything Satoshi learned needed to be utilized in order to launch the bitcoin scheme.  True, Iota could utilize a form of pruning, thus correcting the incentives problem and dragging it back to more like email PoW in nature, but then you have a very fragile, unsound money system with no valid form of state recovery if it goes down.

I'm not saying bitcoin is sound money, because it's not.  It doesn't function as a store of value due to price floor being recursive based on it's own demand, meaning you can always mine an endless stream of coins as transaction fees at the new floor and the floor can crater to nothingness at any time unless bitcoin was the unit of account of something (but it never will be since it doesn't function as a store of value - chicken and egg scenario).

Most attempts to increase bitcoin scalability in altcoins, and thus lower redundancy, seem to make it even less sound money where you can no longer trick people into believing it's money at all.  People will see how fragile they are and treat them as they should be, just as a throwaway currency like airline miles instead of pretending they are a valid store of value like gold or silver.

As for Byteball:

2)  Is there really a purpose in a, hmm how to describe it in general, a branching/multi-threaded/non-linear system like a DAG if you're just using bitshares-style consensus to force convergence and make it linear in a single path again?

some good point here.

great.