Obyte: Totally new consensus algorithm + private untraceable payments

[MrChicken1987]

Thanks everyone for answering my 2nd question. I've read a lot and I am now pretty releaxed about the use of blackbytes.

Also I've read in the first post:

Free distribution

There are two ways to participate in the free distribution:

• Make purchases at the merchant stores we partner with and receive 10% cashback on the amount of your purchase, in Bytes.  The cashback program has just started, follow our announcements to learn about merchants who join the program.  If you are a merchant and want to join, contact us.
• Hold bytes and/or BTC and receive additional bytes proportional to your holdings.  No investment required, you keep your bitcoins and bytes, plus receive new bytes and blackbytes.  See below how to receive the coins.

So just for my logic: I don't get Blackbytes for merchant purchases. I'm fine with that. But doesn't that mean that the distribution of all blackbytes could take WAY longer than the distribution of bytes? I only get them if I link my address to the bot, but I guess not everyone can or will do that.
So even if all bytes could be distributed through purchases by the end of the year there could (!) be more rounds for blackbytes. Am I right?

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[zazarb]

Will not see any signs that the price goes back to the former level,  even under such circumstances when the price of btc falls,
and  the last change to the distribution. Sad..

[FiNaLize]

Will not see any signs that the price goes back to the former level,  even under such circumstances when the price of btc falls,
and  the last change to the distribution. Sad..

Well today is not a good day to compare that as all coins are going down. When there is a lift and byteball doesnt rise it would be more reason for concern

[memii]

I think we should start purchasing wherever possible from partners of byteball as we will have two immediate benefits. First 10% cashback in bytes which is very good is like free and second byteball will be to everyday life usage. We have to buy things anyway then why not to buy from those using byteballs as partners.

[p2pGames]

How do u think when, dev add wallet to appstore for ios?

[LoyceV]

Will not see any signs that the price goes back to the former level,  even under such circumstances when the price of btc falls,
and  the last change to the distribution. Sad..

Think of it this way: $200M in crypto is nothing, it's pumped and hyped out of thin air in seconds.
Now, compare $200M in real world applications: it can buy 10,000 nice cars! And that's what Byteball is targeting: real world applications!

[Lauda]

Will not see any signs that the price goes back to the former level,  even under such circumstances when the price of btc falls, and  the last change to the distribution. Sad..

If the price is the only thing that matters to you, then you've come to the wrong thread. Go to some shitcoin or random ICO and spam/hype it. I don't necessarily agree with the changes to the distribution, but I see where they're coming from and they're definitely more than reasonable.

Think of it this way: $200M in crypto is nothing, it's pumped and hyped out of thing air in seconds.

The whole idea of market caps for currencies is ridiculous at best, and no indicator of anything. There are way too many ways to manipulate that, one example would be masternodes. It's easy to pump something to new levels when you have less than half the supply on the market.

Now, compare $200M in real world applications: it can buy 10,000 nice cars! And that's what Byteball is targeting: real world applications!

Indeed.

[Freefactomizer]

How do u think when, dev add wallet to appstore for ios?

It's Apple that refuses as far as I know, they don't like crypto apps.

[garytheasshole]

Any plans to make syncing faster? Surely you can do better than this, running a full wallet occasionally is quite a annoying. 

[SwedishGirl]

I am for once excited when the price goes lower as I can buy more coins, I don't see Byteball as something that will explode overnight, more like something that can become major in 1-2 years. Similar to how Monero developed previously. Short term speculators are indeed better suited checking other coins.

[shinjikun]

I think we should start purchasing wherever possible from partners of byteball as we will have two immediate benefits. First 10% cashback in bytes which is very good is like free and second byteball will be to everyday life usage. We have to buy things anyway then why not to buy from those using byteballs as partners.

I think all agree on this.
But i just bougth from 50% of all merchants.

As for now there are only 2 or have i missed something?

[funkwerk101]

Just had my first chat with the bot 

All B address linked and confirmed - a very straight forward process once i read the ANN a few times.

Initially put the wrong Bitcoin address but saw you add multiple just by repeating the Sign message process

[tonych]

1. How secure is the chat? I've read that it is encrypted, but can someone explain to me how that is done? Especially with chatpartners on different hubs.
Can the hub read the messages or even decide that chats are not encrypted? I mean they could change the code before they open the gates, without people realizing it.
And what kind of encryption is used?

It's end-to-end encrypted using AES.  The hubs only forward the encrypted messages, they can't see anything.  To deliver your message, your wallet connects to the recipient's hub (if it's different from your home hub).

The encryption keys are constantly rotated for perfect forward secrecy.  This has a side effect that if you restore from an old backup or try to use the same wallet on two devices (which rotate the keys independently), the keys get out of sync and your wallet can't decrypt a received message.  This is one of the common reasons for not receiving blackbytes, which are delivered through chat messages.

[songsunling]

I am for once excited when the price goes lower as I can buy more coins, I don't see Byteball as something that will explode overnight, more like something that can become major in 1-2 years. Similar to how Monero developed previously. Short term speculators are indeed better suited checking other coins.

agreed. maybe byteball will give us  a big surprise in 2018 or 2019.

[bcmine]

[reminder]

Announcing BEEB - Blackbytes Escrow Exchange Bot - web front end.

Instant-buy and sell batches of Blackbytes 24h/24h, 7 days a week.
(you don't need to find a peer anymore: the bot is the peer!)
Trading blackbytes on BEEB is anonymous.

http://www.beeb-bot.com

Includes:
Blackbytes price and volume graphical history,
24h volume,
current best ask,
detailed help menu,
API interface to Blackbytes prices and market history.


Support: https://byteball.slack.com/ #beeb channel

very nice progress. still so much to do.

[MrChicken1987]

It's end-to-end encrypted using AES.  The hubs only forward the encrypted messages, they can't see anything.  To deliver your message, your wallet connects to the recipient's hub (if it's different from your home hub).

The encryption keys are constantly rotated for perfect forward secrecy.  This has a side effect that if you restore from an old backup or try to use the same wallet on two devices (which rotate the keys independently), the keys get out of sync and your wallet can't decrypt a received message.  This is one of the common reasons for not receiving blackbytes, which are delivered through chat messages.

Thank you for answering. After posting the questions, I've read in the first post that it is end-to-end encrypted. Sorry that I didn't mark the question as answered for me, but it might help other people.
Also: Thanks for giving some details. The more I know about the working principles of blackbytes, the more I like it.

Keep up the great work!

[Karartma1]

Will not see any signs that the price goes back to the former level,  even under such circumstances when the price of btc falls,
and  the last change to the distribution. Sad..

Think of it this way: $200M in crypto is nothing, it's pumped and hyped out of thing air in seconds.
Now, compare $200M in real world applications: it can buy 10,000 nice cars! And that's what Byteball is targeting: real world applications!

Maybe he does not like to having the privilege of getting one of the most awesome coins around for free.
The more we get the more we want, there's no way for us to feel content with what we have received.

1. How secure is the chat? I've read that it is encrypted, but can someone explain to me how that is done? Especially with chatpartners on different hubs.
Can the hub read the messages or even decide that chats are not encrypted? I mean they could change the code before they open the gates, without people realizing it.
And what kind of encryption is used?

It's end-to-end encrypted using AES.  The hubs only forward the encrypted messages, they can't see anything.  To deliver your message, your wallet connects to the recipient's hub (if it's different from your home hub).

The encryption keys are constantly rotated for perfect forward secrecy.  This has a side effect that if you restore from an old backup or try to use the same wallet on two devices (which rotate the keys independently), the keys get out of sync and your wallet can't decrypt a received message.  This is one of the common reasons for not receiving blackbytes, which are delivered through chat messages.

That's great I would say. I'm using the chat like a real one. Whatsapp sucks

[SaintFlow]

this is not to be taken too seriously, but don't discount it either.

[alucard23]

Thanks everyone for answering my 2nd question. I've read a lot and I am now pretty releaxed about the use of blackbytes.

Also I've read in the first post:

Free distribution

There are two ways to participate in the free distribution:

• Make purchases at the merchant stores we partner with and receive 10% cashback on the amount of your purchase, in Bytes.  The cashback program has just started, follow our announcements to learn about merchants who join the program.  If you are a merchant and want to join, contact us.
• Hold bytes and/or BTC and receive additional bytes proportional to your holdings.  No investment required, you keep your bitcoins and bytes, plus receive new bytes and blackbytes.  See below how to receive the coins.

So just for my logic: I don't get Blackbytes for merchant purchases. I'm fine with that. But doesn't that mean that the distribution of all blackbytes could take WAY longer than the distribution of bytes? I only get them if I link my address to the bot, but I guess not everyone can or will do that.
So even if all bytes could be distributed through purchases by the end of the year there could (!) be more rounds for blackbytes. Am I right?

AFAIK, undistributed Blackbytes are going to the foundation, every round.

[LoyceV]

1. How secure is the chat? I've read that it is encrypted, but can someone explain to me how that is done? Especially with chatpartners on different hubs.
Can the hub read the messages or even decide that chats are not encrypted? I mean they could change the code before they open the gates, without people realizing it.
And what kind of encryption is used?

It's end-to-end encrypted using AES.  The hubs only forward the encrypted messages, they can't see anything.  To deliver your message, your wallet connects to the recipient's hub (if it's different from your home hub).

The encryption keys are constantly rotated for perfect forward secrecy.  This has a side effect that if you restore from an old backup or try to use the same wallet on two devices (which rotate the keys independently), the keys get out of sync and your wallet can't decrypt a received message.  This is one of the common reasons for not receiving blackbytes, which are delivered through chat messages.

That's great I would say. I'm using the chat like a real one. Whatsapp sucks

If a lot of people would use Byteball to chat, wouldn't that give a huge load on the hubs? That would make running hubs expensive, while it doesn't earn anything from relaying chat messages.