Obyte: Totally new consensus algorithm + private untraceable payments

[Dr_Voidberg]

What???!

Wait a minute.. Let me say again... What? What do you mean psychologicaly no difference?!

There are a lot of people I know in real life, who, exposed to this, will invest in what has a small price per unit, regardless of total monetary mass (the number of units in existence). You are not .. just wrong with that affirmation, you are way off!

Yes, most people value coins in USD. USD value of GBYTE is high, very high compared to other coins, that puts normal people off. It looks overvalued and risky. The only people that really value everything in BTC are BTC maximalists and hardcore traders.

[1714162583]

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[fedmahnkassad]

What???!

Wait a minute.. Let me say again... What? What do you mean psychologicaly no difference?!

There are a lot of people I know in real life, who, exposed to this, will invest in what has a small price per unit, regardless of total monetary mass (the number of units in existence). You are not .. just wrong with that affirmation, you are way off!

Yes, most people value coins in USD. USD value of GBYTE is high, very high compared to other coins, that puts normal people off. It looks overvalued and risky. The only people that really value everything in BTC are BTC maximalists and hardcore traders.

GBYTE definitely needs to change the denomination before it's on more exchanges. It should be fairly trivial for Bittrex to implement. The current denomination is a huge put off for all new comers. This is VITAL for adoption. I understand it does not make much difference for all the crypto veterans but for new guys it makes a huge difference.

[D3m0nKinGx]

What's so difficult with Gbyte units?  The coin's value is btc/gbyte, you'd end up dealing with larger numbers using MB and smaller fractions of btc when trading... and some exchanges  have a minimum btc value for trading, (Trex is 100k btc sats) minimum per trade.

But if this is changed to Mbyte, where right now 1 Gbyte = 0.05 BTC,  

Then

1 Mbyte = 0.00005 BTC


Why is this better?

dont get it either. psychologicaly its making no difference, because you get all this millions of bytes anyway

What???!

Wait a minute.. Let me say again... What? What do you mean psychologicaly no difference?!

There are a lot of people I know in real life, who, exposed to this, will invest in what has a small price per unit, regardless of total monetary mass (the number of units in existence). You are not .. just wrong with that affirmation, you are way off!

The argument above with "1 Gbyte = 0.05 BTC" being better for trading compared to "1 Mbyte = 0.00005" is not convincing either, because the average trading size per position is around 1-2GB's anyhow (I'm speculating here based on common sense)... and there are make tokens/coins/cryptoassets with a unit price of around 5000+ satoshis and people have no major problems trading that... Also, the average joe doesn't daily trade.

One extra argument for the price denomination cut (from GB to MB) would be that standard stock market is used to splitting shares, in order to keep prices in around the same area (of two to tree digit price).

I said, "Why is this better?", not "it IS". and thus you went on a rant that didn't provide a reason to my question. you just responded as if I made a statement not a question...

But in either case. regardless the denomination of how the coin is listed, if it's in Gbyte or in Mbytes, it doesn't change the fact of how much the coins cost $ USD wise... you can't make it look "cheaper" to a noob trader, or average joe unless its actually cheaper.  1000 Mbytes is still 0.05 btc no matter how you try to put it. And you can go on an exchange and buy 1 gbytes which is the same as 1000 mbytes, or 0.0001 gbytes = 1 mbytes. Thus, speaking for myself here, I don't see the justification to change this.

Furthermore where you said:

and there are make tokens/coins/cryptoassets with a unit price of around 5000+ satoshis and people have no major problems trading that... Also, the average joe doesn't daily trade.

Incorrect, Trex has a minimum 50,000 sats (BTC) per trade. thus in Byteballs case, the minimum order as of right now that you could place using (Mbytes) would be

0.00950515 Gbytes =  9.5 Mbytes

So I ask again, what is the difference? the USD/byteball value is still the same, why would there be any different incentive for a trader to buy it just because the decimals are in a different position? whether they trade/own .0095 gbytes in their account or 9.5 Mbytes they still gonna have the SAME $7 (rounded) in their account. And the Exchange would be showing instead 1 Mbyte as 0.70$. So oh, it's 70 cents, but that's not per "coin" it's per megabytes, byteball is the coin, and megabytes are a fraction of it. 1 byteball = 1gbyte (and has been this way since the beginning). So you're asking the dev to say that 1 byteball = 1 mbyte by making this switch on the exchange.

[galbraith01]

What's so difficult with Gbyte units?  The coin's value is btc/gbyte, you'd end up dealing with larger numbers using MB and smaller fractions of btc when trading... and some exchanges  have a minimum btc value for trading, (Trex is 100k btc sats) minimum per trade.

But if this is changed to Mbyte, where right now 1 Gbyte = 0.05 BTC,   

Then

1 Mbyte = 0.00005 BTC


Why is this better?

People like to buy cheap even if final price the same. Crowd psychology is the point

[fedmahnkassad]

"why would there be any different incentive for a trader to buy it just because the decimals are in a different position?"

Because there are not only traders interested in buying crypto. Have you actually spoken to any new guys who are just getting in and make decisions on what to buy? You need to understand that there are millions of people who will buy coins eventually and never even understand the concept about more than 3 decimals.

[D3m0nKinGx]

"why would there be any different incentive for a trader to buy it just because the decimals are in a different position?"

Because there are not only traders interested in buying crypto. Have you actually spoken to any new guys who are just getting in and make decisions on what to buy? You need to understand that there are millions of people who will buy coins eventually and never even understand the concept about more than 3 decimals.

I've talk to many noobs (going on 5 years in crypto), and i don't even talk to them about numbers of coins. I talk to them about the project/tech behind it, and tell them to research and make the investment decision on their own, whether to buy or not. I will never tell someone to buy something just because a coin looks better by how it's satoshi or dollar value is displayed lol.

[LoyceV]

I have built a BYTEBALL VIDEO FAUCET and I am giving away until END OF 2017 for FREE 5,000,000 bytes for every new Byteball user:

https://www.youtube.com/watch?v=Up5mWozjHhI

Nice offer! You're the guy that Tony showed earlier, I was waiting for a translation to English indeed.
One comment though: You say something like "5 medium bytes", it's hard to hear, but it should be 5 megabytes, or 5 million bytes. Automated subtitles say "5 billion bytes 5 minute bible bytes", so it's definitely hard to hear. This may confuse new users.

This is also a perfect tool to support the growth of Byteball community (and Byteball PRICE!)
Please help me with that!

I'll gladly help, shared on Facebook already.

Thanx so much for making this community great! Let's make things happen!

What do you think of this initiative?

I think it's a great way to spread Byteball, but I expect it will be abused by many people with more than one account.

[D3m0nKinGx]

Nothing's stopping ppl from buying/selling Eth being 700$+ a coin and trading with volumes over 10,000 BTC / 24 hours on the 3 top exchanges. Byteball can do the same just as it is.

[fedmahnkassad]

"why would there be any different incentive for a trader to buy it just because the decimals are in a different position?"

Because there are not only traders interested in buying crypto. Have you actually spoken to any new guys who are just getting in and make decisions on what to buy? You need to understand that there are millions of people who will buy coins eventually and never even understand the concept about more than 3 decimals.

I've talk to many noobs (going on 5 years in crypto), and i don't even talk to them about numbers of coins. I talk to them about the project/tech behind it, and tell them to research and make the investment decision on their own, whether to buy or not. I will never tell someone to buy something just because a coin looks better by how it's satoshi or dollar value is displayed lol.

The snake which cannot cast its skin has to die

[BTCspace]

byteball should be 50% of iota ?

Why not, the technology is online.  

500% of iota he meant to post. Well done I agree.

But byteball fans all hide in here telling each other how great it is whilst iota fans are all over the main alt board where the noobs arrive to find the cheap iota and expensive bb

let's change the basic unit to MB or KB ?


i think byteball reasonable valuation should be 50% of IOTA !

[BTCspace]

i hope one day

1 Gbyte=1 BTC

i hope this can happen

this is the most under Value coin...

[ByteFan]

i hope one day

1 Gbyte=1 BTC

i hope this can happen

this is the most under Value coin...

Assuming Byteball deserves to enter the Top 10 market cap then $6000 / GBytes would be a fair long term expected value for a total of 1,000,000 GBytes. In other words, at today price, there is room for x10. True Byteball is the most under value coin.

https://coinmarketcap.com/

[fedmahnkassad]

Nothing's stopping ppl from buying/selling Eth being 700$+ a coin and trading with volumes over 10,000 BTC / 24 hours on the 3 top exchanges. Byteball can do the same just as it is.

700$ you say? What would be the price of a GBYTE if it has the same market cap as ETH?

[D3m0nKinGx]

Nothing's stopping ppl from buying/selling Eth being 700$+ a coin and trading with volumes over 10,000 BTC / 24 hours on the 3 top exchanges. Byteball can do the same just as it is.

700$ you say? What would be the price of a GBYTE if it has the same market cap as ETH?

I'm talking about trading volume, not mkc. You're not on the same page. Other than that, I'm sure you already calculated what the price/gbyte would be at ETH's marketcap, which would be around 70,000$/gbyte when circulating supply reaches 1M.  Bitcoin is nearing 20,000$, Who says Byteball can't do it, it's packed with more features, and a faster network than bitcoin.... so why not 

[BillionairePal]

One comment though: You say something like "5 medium bytes", it's hard to hear, but it should be 5 megabytes, or 5 million bytes. Automated subtitles say "5 billion bytes 5 minute bible bytes", so it's definitely hard to hear. This may confuse new users.

I noticed that and added captures that say: 5,000,000 bytes per person

I'll gladly help, shared on Facebook already.

Thank you!

[SatoNatomato]

You could say "why are prices like 99 or 349, and not 100 and 350, noone would fall for that, people arent stupid are they"

But they are stupid,  stupid ones run the economy.

[8fold]

Nothing's stopping ppl from buying/selling Eth being 700$+ a coin and trading with volumes over 10,000 BTC / 24 hours on the 3 top exchanges. Byteball can do the same just as it is.

700$ you say? What would be the price of a GBYTE if it has the same market cap as ETH?

I'm talking about trading volume, not mkc. You're not on the same page. Other than that, I'm sure you already calculated what the price/gbyte would be at ETH's marketcap, which would be around 70,000$/gbyte when circulating supply reaches 1M.  Bitcoin is nearing 20,000$, Who says Byteball can't do it, it's packed with more features, and a faster network than bitcoin.... so why not  

I have quite a lot of arguments for you... But I value my energy, it's my most precious asset. I'll say just this.. BRAND recognition. You cannot compare Byteball, as a brand, with Bitcoin. If Bitcoin would have sold in "bits" (1bit = 100 satoshi) instead of whole bitcoins, we'd probably be seeing a higher marketcap.

I've spoken with tens of people who are new to crypto-space, and most of them (i'd say 8 out of 10) initially tell me "this is cheap, this is expensive" based ONLY on price per unit.

There's actually a marketing science applied to price-tagging. Why do you think most of the prices you see in stores look like "$99.99" or "39.99"? Because most people think in the lines of "oh, this costs 90bucks, and this costs 30 bucks", when in reality it costs $100 and $40, respectively. Now this may not fool you or me and a few of the rest. But it damn works, and it boosts profits by 20 - 50%, based on industry.

I'm curious if there are actual concrete steps we could take on this direction. I'd be willing to put some effort into this.

[jukKas]

Hi!

I've found that Byteball chat is very cool and working like charm, but wondering that is the Byteball chat encrypted or not?

Also would love to know that is TOR option going to be in Android wallet anytime soon?

Thanks in advance!

The chat is encrypted end-to-end.
It seems to me that TOR was removed from Android app, I don't remember why.

That's very nice. So you say that Android wallet have had TOR-feature before?

[jukKas]

What's so difficult with Gbyte units?  The coin's value is btc/gbyte, you'd end up dealing with larger numbers using MB and smaller fractions of btc when trading... and some exchanges  have a minimum btc value for trading, (Trex is 100k btc sats) minimum per trade.

But if this is changed to Mbyte, where right now 1 Gbyte = 0.05 BTC,  

Then

1 Mbyte = 0.00005 BTC


Why is this better?

dont get it either. psychologicaly its making no difference, because you get all this millions of bytes anyway

What???!

Wait a minute.. Let me say again... What? What do you mean psychologicaly no difference?!

There are a lot of people I know in real life, who, exposed to this, will invest in what has a small price per unit, regardless of total monetary mass (the number of units in existence). You are not .. just wrong with that affirmation, you are way off!

The argument above with "1 Gbyte = 0.05 BTC" being better for trading compared to "1 Mbyte = 0.00005" is not convincing either, because the average trading size per position is around 1-2GB's anyhow (I'm speculating here based on common sense)... and there are make tokens/coins/cryptoassets with a unit price of around 5000+ satoshis and people have no major problems trading that... Also, the average joe doesn't daily trade.

One extra argument for the price denomination cut (from GB to MB) would be that standard stock market is used to splitting shares, in order to keep prices in around the same area (of two to tree digit price).

I said, "Why is this better?", not "it IS". and thus you went on a rant that didn't provide a reason to my question. you just responded as if I made a statement not a question...

But in either case. regardless the denomination of how the coin is listed, if it's in Gbyte or in Mbytes, it doesn't change the fact of how much the coins cost $ USD wise... you can't make it look "cheaper" to a noob trader, or average joe unless its actually cheaper.  1000 Mbytes is still 0.05 btc no matter how you try to put it. And you can go on an exchange and buy 1 gbytes which is the same as 1000 mbytes, or 0.0001 gbytes = 1 mbytes. Thus, speaking for myself here, I don't see the justification to change this.

Furthermore where you said:

and there are make tokens/coins/cryptoassets with a unit price of around 5000+ satoshis and people have no major problems trading that... Also, the average joe doesn't daily trade.

Incorrect, Trex has a minimum 50,000 sats (BTC) per trade. thus in Byteballs case, the minimum order as of right now that you could place using (Mbytes) would be

0.00950515 Gbytes =  9.5 Mbytes

So I ask again, what is the difference? the USD/byteball value is still the same, why would there be any different incentive for a trader to buy it just because the decimals are in a different position? whether they trade/own .0095 gbytes in their account or 9.5 Mbytes they still gonna have the SAME $7 (rounded) in their account. And the Exchange would be showing instead 1 Mbyte as 0.70$. So oh, it's 70 cents, but that's not per "coin" it's per megabytes, byteball is the coin, and megabytes are a fraction of it. 1 byteball = 1gbyte (and has been this way since the beginning). So you're asking the dev to say that 1 byteball = 1 mbyte by making this switch on the exchange.

The thing is just here that newcomers often looks just the USD price of the currency. If it's 700$, it seems lot more expensive that 0,70$ or 0,0007$. USD price of currencies doesn't personally matter anything for me, but I know lot of people that bought something else because the price of GBYTE. Maybe that's a good thing and let's Byteball grow organically, who knows.

Byteball = GBYTE? I don't think so. Byteball is the platform and bytes are bytes, right?

[adabau]

let's change the basic unit to MB or KB ?


i think byteball reasonable valuation should be 50% of IOTA !

I think IOTA reasonable valuation should be 50% of byteball because IOTA even doesn't have a warking wallet and peoples that use it have a lot of trouble!
And I think byteball need more exchange.