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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1216251 times)
Intellium
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August 07, 2017, 08:46:17 AM
Last edit: August 07, 2017, 09:42:55 AM by Intellium
 #12061

I successfully confirmed my BTC address at Byteball and received message from the chat bat:
"Current balances of these addresses are: XX Btc. You are expected to receive xxxx GB and xxxx giga-blackbytes (GBB)."

The problem is: I`ve already transfered all my Btc to the exchange

Will I still get free Byteballs?
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August 07, 2017, 08:50:42 AM
 #12062

Snip~~~~~~~~

I don't see any confirmation about the snapshot. You should have waited for the snapshot to be taken before moving linked balance. I think you still have enough time to link the funds. Once snapshot will be taken we all will know here on the forum and will be free to move then safely.


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Glok17
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August 07, 2017, 08:50:57 AM
 #12063

I succefully confirmed my BTC address at Byteball and received message from the chat bat:
"Current balances of these addresses are: XX Btc. You are expected to receive xxxx GB and xxxx giga-blackbytes (GBB)."

The problem is: I`ve already transfered all my Btc to the escahnge

Will I still get free Byteballs?


There is a snapshot. Depends on when did you send your BTC out, before or after the snapshot of BTC blockchain.

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Freefactomizer
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August 07, 2017, 08:53:18 AM
 #12064

Is there anyway to know when iCN has dumped all of their coins?

They didn't dump all their bytes, only a part. It's logic that they had to sell since Byteball became a really big share of their portfolio.

🏀 - ⚾ - ⚽ - ❄ - 🏈 -  Obyte Sport Betting Bot - 🏀 - ⚾ - ⚽ - ❄ - 🏈
Cryptian
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August 07, 2017, 08:55:35 AM
 #12065

I succefully confirmed my BTC address at Byteball and received message from the chat bat:
"Current balances of these addresses are: XX Btc. You are expected to receive xxxx GB and xxxx giga-blackbytes (GBB)."

The problem is: I`ve already transfered all my Btc to the escahnge

Will I still get free Byteballs?



You need to have the BTC in a wallet to which you control the key at the time of the snapshot. As far as I know exchange doesnt work.

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August 07, 2017, 09:19:40 AM
 #12066

wrong amount of btc.

I have a wallet linked and it shows 4% less btc on the bytes distribution page than in my wallet. any solution for this? seems blockchain explorer is reporting the wrong number?

Bitrated user: kentokyo.
Ayers
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August 07, 2017, 09:25:51 AM
 #12067

i have 1.6 billion blackbyte how much they are worth? where i can trade?
Michael2t
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August 07, 2017, 09:31:47 AM
 #12068

 After installing, chat with the Transition Bot to participate in the next distribution round
 Buy or sell bytes by chatting   with a trading bot
 P2P exchange bytes vs bitcoins, get your merkle proof by chatting with BTC Oracle
 View public transactions on the DAG explorer Shocked Shocked Sad Sad
CryptKeeper
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August 07, 2017, 09:45:08 AM
 #12069

More than 1.2 million BTC linked to Byteball!

Please retweet: https://twitter.com/cryptkeeperbtt/status/894493516390420480

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
Glok17
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August 07, 2017, 09:53:12 AM
 #12070

i have 1.6 billion blackbyte how much they are worth? where i can trade?

It's 1.6 Gb if I'm not mistaken. Current price is ~0.18 BTC per 1 GB, trading is going on bittrex!

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Hullo
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August 07, 2017, 09:58:19 AM
 #12071

i have 1.6 billion blackbyte how much they are worth? where i can trade?

There is no direct market for blackbytes at the moment where you can trade them. There will be some plan for these in future after the distribution rounds to be completed. Now you can trade p2p if someone is interested in buying. It is better to keep holding as distribution rounds are not left many now.
dingley207
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August 07, 2017, 10:01:13 AM
 #12072

There are 2 ways to recieve free Byteball. the first if you hold BTC and a snapshot will be taken at 18:20, the second is if you hold Byteball in your Byteball Wallet.

My question: is there a snapshot of your Byteball Wallet taken to know the amount of Byteball you hold at a certain time ? When can you move your Byteball back to an exchange to trade ?
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August 07, 2017, 10:26:01 AM
 #12073

There are 2 ways to recieve free Byteball. the first if you hold BTC and a snapshot will be taken at 18:20, the second is if you hold Byteball in your Byteball Wallet.

My question: is there a snapshot of your Byteball Wallet taken to know the amount of Byteball you hold at a certain time ? When can you move your Byteball back to an exchange to trade ?

once it is annouced that the snapshot was sucessful you can trade your byteballs on an exchange. usually there is a msg here in the forum once it is done

Bitrated user: kentokyo.
metalbean
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August 07, 2017, 10:35:11 AM
 #12074

Hi guys, this has probably been asked a dozen times.

I just got my trezor hardware today, can I claim airdrops with my BTCs stored in the trezor hardware?

There's a tutorial online that says it works, but is that a trezor dongle or web-based trezor, since the tutorial shows a web interface, or are they essentially the same thing. If they are how does byteball confirm my BTCs when my BTCs are stored offline.

Thanks in advance!
Figatko
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August 07, 2017, 11:23:24 AM
 #12075

Are there some advantages to run a full node?
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August 07, 2017, 11:42:09 AM
 #12076

Hi guys, this has probably been asked a dozen times.

I just got my trezor hardware today, can I claim airdrops with my BTCs stored in the trezor hardware?

There's a tutorial online that says it works, but is that a trezor dongle or web-based trezor, since the tutorial shows a web interface, or are they essentially the same thing. If they are how does byteball confirm my BTCs when my BTCs are stored offline.

Thanks in advance!

all you have to do is sign a message.

https://medium.com/byteball-help/tutorial-on-linking-trezor-wallet-to-byteball-account-via-signing-a-message-b4e390d7e1a8
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August 07, 2017, 12:11:44 PM
 #12077

If there are not enough people getting the airdrop, everybody cries (like with bitcore only top1000 addresses got for a while, now it's changed), if everyone joins and receives the rewards, again people cry because the more joins the more they dump and as you can see, whales hold much more than small fish with 1-2 btc, ICN could have made 10-20x less if they sold in january like a bunch of freeloaders. I hope there will be at least as many idiots this round like before, so prepare your orders Cheesy

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August 07, 2017, 12:26:58 PM
 #12078

I'm a little bit surprised to see the GByte price falling down the day before a 20% bonus distribution (0.16 btc now) Huh

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August 07, 2017, 12:27:53 PM
 #12079

This dumping sucks! I was betting on BB going up especially after the sharp drop after last distribution.

there is nothing sucking about a dump in a coin with a good future!

i am new to Byteball, and i have recently found out about it but i am already very interested and total in.
when the dumps begin and the panics start, that is the best time to buy more Bytes. it is the bottom of the price just like last time, you get cheap coins and add it to your wallet and get profit. it is all a win-win situation.

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August 07, 2017, 12:30:18 PM
 #12080

After August 7 we'll reach more than 50% distributed coins and will start a new phase of our distribution.

It was stated from day one that the purpose of this distribution is to get this coin into the hands of as many people as possible.  Both coins (bytes and blackbytes) are meant to be used as currencies, and this is only possible when there are many users and apps to interact with.  We already have a sizable community, a number of unique apps, and we are the only crypto project to have an app distribution platform (the Bot Store), but there is still a lot of room to grow in terms of user count, number of apps, and willingness of users to use these apps.

Up until now, we were distributing only to holders of BTC and Bytes, i.e. we were rewarding holding.  Now we are adding actual users into the mix, i.e. we are going to reward transactions.

To get you an idea of how we are going to do it, we are going to partner with several categories of companies:
- merchants
- payment processors
- "Bitcoin debit card" companies
and offer 10% cashback, paid in Bytes, for all qualifying purchases (no matter how the purchases are paid).  The cashback will be funded from the undistributed pool.  For example, a customer who bought for $100 receives $10 cashback in Bytes, paid to his Byteball address, at the current exchange rate.  For merchants, this is something that would drive sales and they would put effort into promoting the offer.  In competitive industries, a 10% cashback is a very powerful tool to lure customers.  For customers, this is a 10% discount (which matters a lot in some industries).  For Byteball, it is new users who will have to get involved into the system in order to receive the cashback.

A few companies have already expressed interest (not disclosing the names while it is a work in progress).

A few extensions of this offer:
- 20% cashback if the purchase is paid in bytes or blackbytes.  This would incentivize merchants to start accepting bytes and blackbytes, and the infrastructure will stay after the distribution ends.
- merchants can offer additional cashback to their customers.  Merchants fund it themselves by buying bytes from the market, and for every 1% funded by the merchant we add 1% more from the undistributed pool.

If you see similarity with existing loyalty points schemes, it is similar indeed.

At a minimum, we receive many new users who learn about Byteball from their merchants, plus working payment integrations.  And the users are not just crypto fans, it may be their first crypto coin for many users.  With the most user friendly wallet in the industry, we are in the best position to expand beyond the crypto village.

We can continue adding 10-20% to existing byte balances to incentivize keeping the received bytes before more infrastructure is built, rather than cashing out immediately.  

Two negative sides:
- the scheme is less transparent than plain adding on top of existing balances, and some share of fraud is inevitable.  Merchants might try to deceive us to receive coins for themselves by reporting nonexistent sales or selling to themselves.  This is mitigated by good choice of trustworthy merchants and our ability to disconnect any merchant at any time on suspicion of fraud.  Their customers can also try to find ways to abuse the system, again we'll require the merchants to prevent that by excluding some types of purchases, monitoring customers, enforcing caps, etc.  Additionally, if the merchant funds part of the cashback himself, he has skin in the game to counter the customer fraud.
- these new users are not holders for the most part, they are more likely to sell.  Not a big problem, the point is they already know about Byteball and it's easy for them to get back.  The new users are new to crypto, many of them won't use exchanges, and somebody will have to create new easier-to-use channels to fiat, which is positive for liquidity.  Also, 10%-20% monthly distributions discourage fast selling while the distribution is ongoing.  And lastly, the merchants who fund 50% of the cashback would partially balance the markets by buying coins.

On balance, I'm sure that these negatives are tolerable when we are going to achieve a vast expansion of our user base and acceptance at merchants.

For the current distribution round, nothing changes.

For the next distribution on September 6, we are changing the ratios in favor of Byte holders and slowing down the distribution to have more time to build out the cashback program:

BTC to Bytes: every 160 BTC gives you 1 GB from the distribution (or 0.00625 GB per BTC).
Bytes to Bytes: every 10 GB of existing balance gives you additional 1 GB from the distribution (in other words, +10% to existing balances).

Similar ratios for blackbytes.

For those who receive their first bytes from cashbacks, Sep 6 will be the first distribution when they receive +10%.

I'll make announcements as we add merchants in the cashback program.

Simplicity is beauty
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