Obyte: Totally new consensus algorithm + private untraceable payments

[Marc De Mesel]

Won't be going to hub.berlin as Tony is also going to Bitcoin Wednesday in Amsterdam the week after, on Dec 6, which is much closer for me, and cheaper!  

He is giving a Byteball presentation there, and we can maybe organise something before or after for the byteball fans as well? Ideas welcome!

Who is coming to Bitcoin Wednesday in Amsterdam on Dec 6?

[MrChicken1987]

Right now if Tony dies the project is over and out, so witnesses can still be centralised in Tony, as the project is still fully dependent on him anyway. Over time though it is indeed important that more people take on leadership roles so that the project can go on without him if necessary, and indeed witnesses become more decentralised as well.

True.

The cashback witness MEJ... http://www.cashback-witness.com has already been adopted by many people (see: https://byteball.fr/stats.php) but will never be a full replacment of Tony original JED....

True decentralization will come only when independant witnesses will be added in the default list by Tony. There is not sufficient attention/motivation from  end users to the witnesses to make them change their default wallet parameters (actualy they just don't care...). Or in other words: thoses who are concerned will never be the majority.

Which brings me to the question: Why are the 12 default witnesses all controlled by Tony? Okay, the fees, I get that, but Tony already keeps 1 % of all bytes. Does he really need the transaction fees?

As far as I can see it, there are right now 13 operating witnesses. 1 is yours and 12 are Tony's.
In my opinion it would be a good counter arguement against the decentralization accusations, if your witness (and the next 4-5 upcoming witnesses) are listed in the default list.
Couldn't Tony make that happen right now? He still gets 11/12 of all fees at the moment.

When all is distributed, who will pay the bills?
A coin needs continuous development and marketing.
Paying these things from donations is not a business model.
You need a piece of the created coins to pay for this so that all coinholders pay their part of the bill.

Fully agree. There needs to be a dedicated reserve for marketing, UX & development in order to attract a larger community and to secure the future of Byteball.

Would it be possible that the byteball community fund operates a witness? (Which becomes a part of the default witness list, too).
That way, the witnesses are more decentralized (a bit) and the community fund gets steady income based on the fees. They can hire devs or pay for marketing with that.

[ByteFan]

Right now if Tony dies the project is over and out, so witnesses can still be centralised in Tony, as the project is still fully dependent on him anyway. Over time though it is indeed important that more people take on leadership roles so that the project can go on without him if necessary, and indeed witnesses become more decentralised as well.

True.

The cashback witness MEJ... http://www.cashback-witness.com has already been adopted by many people (see: https://byteball.fr/stats.php) but will never be a full replacment of Tony original JED....

True decentralization will come only when independant witnesses will be added in the default list by Tony. There is not sufficient attention/motivation from  end users to the witnesses to make them change their default wallet parameters (actualy they just don't care...). Or in other words: thoses who are concerned will never be the majority.

Which brings me to the question: Why are the 12 default witnesses all controlled by Tony? Okay, the fees, I get that, but Tony already keeps 1 % of all bytes. Does he really need the transaction fees?

Honestly I think Tonych does not care at all about earning the transactions fee. He holds the vast majority of the witnesses because Byteball is still a new project in its growing age and no major Witness candidate operator has emerge.
One can say i any case that end users are sole responsible for other witnesses adoption (it is in the protocol).
My talk was to say that since end users do not very much care actualy Tonych will certainly have to push independant witnesses in the default list at some point.

[ByteFan]

Right now if Tony dies the project is over and out, so witnesses can still be centralised in Tony, as the project is still fully dependent on him anyway. Over time though it is indeed important that more people take on leadership roles so that the project can go on without him if necessary, and indeed witnesses become more decentralised as well.

True.

The cashback witness MEJ... http://www.cashback-witness.com has already been adopted by many people (see: https://byteball.fr/stats.php) but will never be a full replacment of Tony original JED....

True decentralization will come only when independant witnesses will be added in the default list by Tony. There is not sufficient attention/motivation from  end users to the witnesses to make them change their default wallet parameters (actualy they just don't care...). Or in other words: thoses who are concerned will never be the majority.

Which brings me to the question: Why are the 12 default witnesses all controlled by Tony? Okay, the fees, I get that, but Tony already keeps 1 % of all bytes. Does he really need the transaction fees?

Honestly I think Tonych does not care at all about earning the transactions fee (only the payload part of, actually). He still holds the vast majority of the witnesses because Byteball is still in its growing age and no major Witness candidate operator has emerge. He already told he is willing to keep only one witness at the end.
One can say in any case that end users are sole responsible for other witnesses adoption (it is in the protocol and in the wallet).
My talk was to say that since end users do not very much care actually, Tonych will certainly have to push independant witnesses in the default list at some point to force for witnesses decentralization.

[Sam123]

Australia, here we come!

Byteball Bytes can now be bought and sold within Australia on Australians leading cryptocurrency trading site CoinSpot.

Please retweet: https://twitter.com/cryptkeeperbtt/status/933593316393914368

     

Nice to see Byteball on CoinSpot

[s1lverbox]

Daily volume again around 29+Gbyte




Orderbook looks thin. But we have some buyers and sellers.



If you have some bytes to sell and you not on rush just place you bid or ask and see. Who knows it might get filled.

yesterday we had over 36Gb traded within 24h.
Just click my signature or follow this link: https://cryptochangex.com

[Starving_Marvin]

Hey, something happened. I opened my byteball wallet after a long period of silence. Now it asks that "do I want to download the whole database" or "keep only data relevant to me".
Does this mean that my old wallet is lost in oblivion?
I can't find the byteball folder in the roaming folder.

I should have a full backup somewhere but I don't have any idea what should I be looking for...

[Starving_Marvin]

Hey, something happened. I opened my byteball wallet after a long period of silence. Now it asks that "do I want to download the whole database" or "keep only data relevant to me".
Does this mean that my old wallet is lost in oblivion?
I can't find the byteball folder in the roaming folder.

I should have a full backup somewhere but I don't have any idea what should I be looking for...

I found the original byteball folder (located in local-folder) but I get this error message and the program closes:
https://i.imgur.com/ZZr7Bod.jpg

What kind of backup does the byteball create? What file name, where is the default location etc.

[rigel]

Please, help me!

I can no longer send blackbytes; everytime I try I get an error message about conflicting spending.

What can I do?

[jjacob]

Australia, here we come!

Byteball Bytes can now be bought and sold within Australia on Australians leading cryptocurrency trading site CoinSpot.

Please retweet: https://twitter.com/cryptkeeperbtt/status/933593316393914368

     

Nice to see Byteball on CoinSpot

This is important. Most of the volumes until now were on Bittrex. If you were uncomfortable using Bittrex as an exchange, then you had almost no means to buy GBs, Additional exchanges supporting Byteball is important to improve liquidity.

[julian071]

Won't be going to hub.berlin as Tony is also going to Bitcoin Wednesday in Amsterdam the week after, on Dec 6, which is much closer for me, and cheaper!  

He is giving a Byteball presentation there, and we can maybe organise something before or after for the byteball fans as well? Ideas welcome!

Who is coming to Bitcoin Wednesday in Amsterdam on Dec 6?

I'll be there, drop me a PM if you want to meet up earlier!

[Dread]

I am a byteball investor and while I think the tech is very interesting I also have a few doubts.

Firstly in the distribution I see a danger that faith in this project could start to evaporate. By tinkering endlessly with the distribution this causes uncertainty for investors. Investors don't like uncertainty. Compared to say bitcoin in which new coins enter circulation at a predetermined rate. Here it just depends on the whim and fancy of the dev when he decides to do an air-drop. No offence Tony. But the initial promise was to distribute every full moon until 98% are in circulation. This has obviously not been kept which makes one wonder what else can be trusted.

My other reservation is my more serious concern which is in terms of the witnesses. As I understand it witnesses of which there are only 12 in all, are owned by Tony and will collect majority of the fees for the whole network. Obviously Tony will not be trusted to run all the witnesses for ever. How does one become a witness? As a thought experiment imagine if byteball becomes a huge success displacing bitcoin and becoming a real global payments system.  Who will be the witnesses gathering all that phenomenal amount of fees? Will there still be only 12? Will users be happy that all their fees are centralised to so few witnesses?

Perhaps someone can put to rest some of my doubts. Thanks

confirmed your post!

about trustless i wrote many times- but people have agression on this replic...
tony want to find the other way for a more populisation, but asolutly forgot about Holders who dont give a price go away to the Deep

12 witnesses its other part of a Grail- thats may be a bad step in future for future investors

[scambust]

I just wish i understood how blck bytes worked it bit better, I get  its anonymous but is there a reason it cant go on exchanges?

It is already on some decentralized bot store exchanges. Why black bytes are not listed on CoinMarketCap is beyond me. I feel this is absurd as blackbytes are one of the only truly fungible coins existing.

It's very hard to monitor something untracable - so private, exchanges can't program deposits or withdrawals without doing it manually.

[bobq]

Won't be going to hub.berlin as Tony is also going to Bitcoin Wednesday in Amsterdam the week after, on Dec 6, which is much closer for me, and cheaper!  

He is giving a Byteball presentation there, and we can maybe organise something before or after for the byteball fans as well? Ideas welcome!

Who is coming to Bitcoin Wednesday in Amsterdam on Dec 6?

I'll be there, drop me a PM if you want to meet up earlier!

Now I'm getting seriously envious, had I known it with more advance I'd booked a little jump there - Byteball is so far my favorite platform and I would not have missed such an event!

[cryptocortex]

12 witnesses its other part of a Grail- thats may be a bad step in future for future investors

I think it's not that bad, since they can be chosen and replaced by the community.

[StandingTall]

12 witnesses its other part of a Grail- thats may be a bad step in future for future investors

I think it's not that bad, since they can be chosen and replaced by the community.

Only one can be chosen and replaced by the community. The rest needs the reigning witnesses consent.

There's essentially a cartel at the moment run by benevolent dictator. Decartelisation is yet to happen when Tonych decides so.

[Dread]

12 witnesses its other part of a Grail- thats may be a bad step in future for future investors

I think it's not that bad, since they can be chosen and replaced by the community.

maybe its a not bad, but it s a not fast move and other portion of bad things - big investor may be scared about that nomber of 12(witnesses)
than higher number of witnesses, then more sistems stability

but maybe in future tonych may add other witnesses- who knows..

[qiman]

I have not visited this thread in a long time and wanted to know if keeping the bytes in our wallets is the best thing right now or should we start doing some trading with it? I think there has been a decline in price over the last ten months as I remember the price when I bought was sitting at 0.3 btc now is sitting at 0.03 btc or am I reading something wrong?

[s1lverbox]

There is 5Gbytes Bid order for over spot price.
Great arbitrage opportunity.

Just check yourself at : https://cryptochangex.com/markets/gbytebtc

[Marc De Mesel]

I have not visited this thread in a long time and wanted to know if keeping the bytes in our wallets is the best thing right now or should we start doing some trading with it? I think there has been a decline in price over the last ten months as I remember the price when I bought was sitting at 0.3 btc now is sitting at 0.03 btc or am I reading something wrong?

 

Nope, u r reading that right!

However, u do have to count the free bytes you also got in the meantime to calculate your real returns.

Thanks to all the airdrops past 10 months I would estimate you have double the amount of bytes now, so 0.03 x 2 = 0.06 btc value, for an investment of 0.3 btc.

Still a disaster but you know what they say then in world of investing?

OPPORTUNITY!!! TIME TO DOUBLE DOWN!


Serious though, I've been buying, especially blackbytes, they are ridiculously cheap still.

Check out my presentation about Byteball I recently did if u need some pumptalk  

https://www.youtube.com/watch?v=E16xnZ14S2A&t=2s