Obyte: Totally new consensus algorithm + private untraceable payments

[ByteFan]

I have published a paper about what I consider being design flaws when you look at how Byteball does (not) decentralize.

Open for comments.

https://medium.com/@prat486/byteball-move-proposal-831187509ed0

Some random remarks about your paper.

This is a bit weird when you say that nobody would like to be a witness since you've been trying for 1 year to become one and I reckon that anybody somehow involved with Byteball would gladly accept to be one.

True but I never said that I would challenge my real world identity and reputation for that. Many guys would like to become witnesses for the witnessing commission only, it is not what the white paper claims a witness should be. Also they should be well reputed real world entity... not me and being an "anybody somehow involved with Byteball would gladly accept to be one" does not meet the criterion too.

To lose your reputation you would have to try to collude with other witnesses to do bad things. If you simply run honestly your node, you take no risk.

Not only because you also bless the code you are running with your reputation. Where is the third party (or more likely peer review) saying the code is flawless and that your reputation will remain immaculate when running it?

[naska21]

I have published a paper about what I consider being design flaws when you look at how Byteball does (not) decentralize.

Open for comments.

https://medium.com/@prat486/byteball-move-proposal-831187509ed0

I think it will be beneficial to allocate part of remain fund to hub operator or witness node

If only Byteball had  implemented the voting system community  could manage fund allocation, and we would have fair decentralized distribution. The collective intelligence, in my view, is far more powerful and to a greater extend  creative than the mind of just one dev whether he is genius or not. Voting weight would depend upon the balance which in turn could be  determined between low and upper limits.

[Karartma1]

Reading the last posts I agree that there should be a clearer roadmap in terms of final coins distribution. As afbitcoins mentions we can not rely on a few bucks given for completing KYC. I am not against change but I start not to feel much comfortable in this new evolutionary path. There's no perfect model of distributing coins (agreed) but IMHO here the issue is as follows:
Tonych, what do you want to make of your project?  

[Dr_Voidberg]

I have published a paper about what I consider being design flaws when you look at how Byteball does (not) decentralize.

Open for comments.

https://medium.com/@prat486/byteball-move-proposal-831187509ed0

Very well written!
My concerns about top funded wallets being Witnesses:
The largest amounts of GB are in the hands of other ICO managers. They can (or have) distribute their coins to multiple wallets to dominate the top10 or 20. So there is the risk about giving network control to people from competing projects.

Idea:
Use 100 witnesses instead of 12. Select these 100 at random from all wallets which have a minimum amount of GB and activity.

[Freefactomizer]

I have published a paper about what I consider being design flaws when you look at how Byteball does (not) decentralize.

Open for comments.

https://medium.com/@prat486/byteball-move-proposal-831187509ed0

Some random remarks about your paper.

This is a bit weird when you say that nobody would like to be a witness since you've been trying for 1 year to become one and I reckon that anybody somehow involved with Byteball would gladly accept to be one.

True but I never said that I would challenge my real world identity and reputation for that. Many guys would like to become witnesses for the witnessing commission only, it is not what the white paper claims a witness should be. Also they should be well reputed real world entity... not me and being an "anybody somehow involved with Byteball would gladly accept to be one" does not meet the criterion too.

To lose your reputation you would have to try to collude with other witnesses to do bad things. If you simply run honestly your node, you take no risk.

Not only because you also bless the code you are running with your reputation. Where is the third party (or more likely peer review) saying the code is flawless and that your reputation will remain immaculate when running it?

You're making this issue specific to Byteball but it's the same for any crypto and even open-source softwares in overall. If you are a business and accept a payment in crypto you bless the software you're running. It wouldn't hurt to have all the code audited but after more than 1 year of running and $ millions of value transfered we cannot consider that Byteball is an obscure software. And introducing a flaw on purpose isn't that easy, there are several people including me that watch commits to Byteball-core and we would expect a witness to be conservative and wait before deploying updates.

[Freefactomizer]

Idea:
Use 100 witnesses instead of 12. Select these 100 at random from all wallets which have a minimum amount of GB and activity.

You don't prevent Sybil attack by doing that.

[edgar]

so in 1 day after i contacted cryptopia the wallet is updated??

what the actual fk have you lot been doing the last 3 months???

by the way - you're welcome!

[sunnydmd]

IOTA and GBYTE are the only 2coins that using blockless technology on the market right now, am I right, guys?
IOTA has no transaction fee, does the GBYTE?
I'm a fan of IOTA, but wanna know more about GBYTE.
, miss the day that GBYTE price = 0.33btc

[vlom]

so in 1 day after i contacted cryptopia the wallet is updated??

what the actual fk have you lot been doing the last 3 months???

by the way - you're welcome!

what did you write them? just in case i have an issue in the future.

[codemanX]

IOTA and GBYTE are the only 2coins that using blockless technology on the market right now, am I right, guys?
IOTA has no transaction fee, does the GBYTE?
I'm a fan of IOTA, but wanna know more about GBYTE.
, miss the day that GBYTE price = 0.33btc

There is another competitor NANO (formerly Raiblocks) which uses the Tangle technology. Byteball has very low transaction fees.

It seems you don't have any GByte yet when you don't know about it, right? Then I wonder why you are missing the day when 1 GByte was 0.33 BTC, you have the chance to buy Byteball very cheap now.

[Karartma1]

so in 1 day after i contacted cryptopia the wallet is updated??

what the actual fk have you lot been doing the last 3 months???

by the way - you're welcome!

https://bitcointalk.org/index.php?topic=2948513.0

I think you were late to the party man! The world does not spin around you. 

[BTCWagering]

so in 1 day after i contacted cryptopia the wallet is updated??

what the actual fk have you lot been doing the last 3 months???

by the way - you're welcome!

You haven't done bollocks. Everything GBYTE on Cryptopia is still frozen.

[edgar]

so in 1 day after i contacted cryptopia the wallet is updated??

what the actual fk have you lot been doing the last 3 months???

by the way - you're welcome!

You haven't done bollocks. Everything GBYTE on Cryptopia is still frozen.

yea ur right.

oh well. i tried.

Dear Lafu and Cryptopia.

Your  GBYTE wallet is stuck on block 1944463 (actual it is more than 1948927) - it is more than 2 MONTHS of delay

and has a version of the wallet v2.0.0 (v2.1.0 actual now)

Old versions of the wallet do not see new blocks and Tx !!!!!!!!!!!!!!!!!!

thanks for the reminder
I have post it in our Wallet Stuff channel to get one on there !

Dear Lafu and Cryptopia.

Your  GBYTE wallet is stuck on block 1944463 (actual it is more than 1948927) - it is more than 2 MONTHS of delay

and has a version of the wallet v2.0.0 (v2.1.0 actual now)

Old versions of the wallet do not see new blocks and Tx !!!!!!!!!!!!!!!!!!

I will close my (preliminary) Scam accusation thread as soon as this issue will be solved.
https://www.cryptopia.co.nz/CoinInfo/?coin=GBYTE
At least it looks like the wallet is connected to other peers, which sounds good to me

[pereira4]

The coins need to be circulating NOT being hodled by the creator. It just is not a good look for a coin. Reminding me in a very uncomfortable way of Ripple. Sending out a couple of hundred bucks as incentive for KYC  ID is not an air drop. The coins will never be 98% distributed if this goes on. Consequence being that it will never be taken seriously as money.

The thing is the excuse of trying to get as many users as possible with meagre handouts is proven not to work. The best example being Iceland's Aurora coin. People have to be attracted to use it not bribed. It is not attractive seeing the Dev change plan and hodl his own premined coin.

Also it is flying under the radar but the witnesses are all but maybe two controlled by Tony.

I invested in this coin because the tech sounded amazing and the roadmap of airdrops was clear.

Shame to see the credibility draining away like this.

For those that call this greed. You need to rethink about the economics of supply and demand.

This is why I never took any non PoW project seriously. The coin must be automatically delivered to the world, and PoW is still the best method to launch a coin. It's elegant, automated, and you must put capital on the line to mine big amounts.

Honestly, no coin will ever be a challenge for Bitcoin unless a better way to distribute the supply is invented, while being as safe. I still don't trust DAG or PoS or anything else.

The changes in coin rewards are completely retarded. Out of nowhere, when I joined I barely even got any coins out of 2 figure worth BTC being linked, and just a week earlier, I could have got a ton of Byteball.

These arbitrary challenges coming from a centralized party that holds all the non-released supply to boot, doesn't look too good for something that is supposed to be decentralized and high tech.

[BTCWagering]

The whining and crying on here is asymptotically approaching pure comedy.

If any of you crybabies ever get out of your room and talk to real people in the world, no one, literally no one, is going to care about your pouting about who owns how much, distro methods, decentralization, and all the other silly gripes you keep regurgitating ad nauseam.

What they do care about is that it's in the App Store and does something interesting. Right now Byteball isn't in the Apple App Store, only Google Play, so the much bigger issue is making sure iPhone users can join the network soon. Hopefully Tony and team are hammering on this while you guys sulk about rule changes.

The other important thing is that once they download the wallet, they can get some coins without a whole bunch of other BS. Tony says there's going to be a new attestation method without a chicken and egg problem. Also in the future I envision many bots giving away some free bytes to get started.

The future is bright here because Byteball is the industry leader in usability. Tech changes and adapts. Coins move.

Keep it up with the hissy fits guys. I'm laughing  

[jjacob]

we need binance listing

From what I've heard binance listings cost the applicants big money. They also will only accept applications from members of the core team which means Mr Ch which means it ain't happening ever.

Do we know how much it will cost? Given that there are bytes which have still not been distributed, it might be a worthwhile exercise using some of those to get the coin listed on Binance.
I doubt if they will remain fixated on asking some member of the core team to apply to get the coin listed. If Byteball becomes big, it might be in Binance's interest to get it listed, with or without Tony asking them to.

[DoYouCrypto?]

Hello all,

We have added Byteball Polo Shirts to our shop: https://doyoucrypto.com/product-category/polo/

You can pay with Bytes and also receive up to 20% cashback in Bytes.
When you use the coupon code "Byteball" you will get 10% discount for Byteball Polo

Regards,
DoYouCrypto

[amacar1]

Great for byteball supporters, but 40€ for unbranded t-shirt, damn this is expensive. 

[Hhugh]

Tony says there's going to be a new attestation method without a chicken and egg problem.

I missed that part... can you share a link where Ton'y mentions this?

[BTCWagering]

This is the list of the current distribution methods (in no particular order) that we'll continue to use and improve:

1. Cashback.

2. Verification rewards and referral rewards to those who verify their real name.  It is true that the referral system didn't work quite well for new users who have no Bytes yet, and we are going to introduce a new scheme which will allow to refer new users without sending them any Bytes.

I guess it's possible that he was talking about something entirely new that doesn't include verification, but based on the context it seems like it's going to be a way to cover the $8 Jumio fee.