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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1165117 times)
amacar1
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December 28, 2017, 02:35:04 PM
 #16181

Guys!

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

What do you think of this initiative?

I think this is great, thank you for providing this type of faucet Smiley
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bcmine
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December 28, 2017, 02:48:24 PM
 #16182

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
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December 28, 2017, 03:29:32 PM
 #16183

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?Huh 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).

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December 28, 2017, 03:32:26 PM
 #16184

all giveaways reounds are complete now?
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December 28, 2017, 03:34:16 PM
 #16185

all giveaways reounds are complete now?

to my understanding next round
Mar 2, 2018 at 00:51 UTC
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December 28, 2017, 03:39:35 PM
 #16186


What???!

Wait a minute.. Let me say again... What?Huh 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.
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December 28, 2017, 04:05:59 PM
 #16187


What???!

Wait a minute.. Let me say again... What?Huh 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.
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December 28, 2017, 04:08:57 PM
Last edit: December 28, 2017, 04:21:23 PM by D3m0nKinGx
 #16188

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?Huh 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.

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December 28, 2017, 04:17:54 PM
 #16189

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
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December 28, 2017, 04:19:05 PM
 #16190

"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.
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December 28, 2017, 04:24:55 PM
 #16191

"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.

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December 28, 2017, 04:31:22 PM
 #16192

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.

Quote
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.

Quote
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.

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December 28, 2017, 04:32:46 PM
 #16193

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.

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December 28, 2017, 04:32:54 PM
 #16194

"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.

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December 28, 2017, 04:35:57 PM
 #16195

byteball should be 50% of iota ?
Why not, the technology is online.  Wink

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 Sad

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


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

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December 28, 2017, 04:38:58 PM
 #16196

i hope one day

1 Gbyte=1 BTC

i hope this can happen

this is the most under Value coin...

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December 28, 2017, 04:44:22 PM
Last edit: December 28, 2017, 05:11:43 PM by ByteFan
 #16197

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/

Byteball payment gateway for web merchants https://byteball-for-merchants.com/ - BEEB  (Blackbytes Exchange Bot): https://www.beeb-bot.com/ (closed)
Network map, stats, Top Richests and Byteball world map at https://byteball.fr/ (closed) - Hub operator featuring the cashback witness https://byteball-cashback-witness.com (closed)
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December 28, 2017, 05:09:47 PM
 #16198

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?
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December 28, 2017, 05:29:19 PM
 #16199

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  Cool

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BillionairePal
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December 28, 2017, 05:36:46 PM
 #16200

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!

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