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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1182357 times)
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March 16, 2018, 05:05:51 PM
 #17821

withdraws are finally working on cryptopia

#pending

completed.


AFT7Q54KNYEFTOKLK62FVI7JLCE5H46C



any old dust appreciated!!

Best bit of Byteball news for a while. Sent you a million bytes!  Wink

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March 16, 2018, 07:54:35 PM
 #17822

In case Byteball is certainly a shitcoin, why do Cryptopia take all their consumers' GBYTE build up deposit ?
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March 16, 2018, 08:04:44 PM
 #17823


I didn't receive my bb from beeb bot. Tried the resend id procedure, but it says "No such batch can be resent."

Batch number is 4437.

What should i do?

We are still investigating with Tony why Blackbytes delivery is so delayed. I see you have received your Blackbytes in the meantime.

Thank you for using BEEB!

The problem has been fully identified by Tony. It is OK now. Back to normal.

I confirm i received my blackbytes.

Thanks for solving this problem. Will try BEEB again.

 
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March 16, 2018, 08:25:57 PM
 #17824


16. Censorship...... Only the majority of witnesses can effectively impose forbidden content rules – if users choose such witnesses

government is able to put pressure on public witnesses. And they will simply refuse to be witnesses. In this case it will be almost impossible to find a suitable replacement for them



It's a good critique. I think the answer is not in denying this vulnerability, as it is true, but being aware of the vulnerabilities of the alternative validation mechanisms POW and POS.


With POW as well as POS, anyone can get a hold of the majority of the validation/hashing power, as long as you spend the money.

And so people with outside interests may be financially motivated to spend the required amount to destroy it, and can do so fully anonymously.

This will be much harder in a system where your identity is required, and a strong outside reputation as well, as they then lose their outside reputation too.


That being said, I would prefer to see POS instead of witnesses as it is harder to take down with regulations/gov pressure.

In the end though I think adoption depends much more on other factors than the security of the network.

User friendliness, business model, fees, functionality etc.

Think Byteball comes out overall very positively.


And ofcourse over time the gov thread will go down for private currencies as it becomes more a legalized industry less and less at risk against gov attack, comparable to marihuana production in USA today.

Early Bitcoin, Byteball & Bitcoin Cash Investor. Loving Voluntarysm, Lambos & Girls Wink
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March 16, 2018, 08:52:10 PM
 #17825

The problem has been fully identified by Tony. It is OK now. Back to normal.
Thanks for solving this problem and the Info here!  Cool

Bitcore BTX - The Future Is Now | free BTX claiming for BTC holders + weekly airdrops + GPU mining
Bitcore F.A.Q.   |   BTX claiming + more info   |   ANN bitcointalk: open discussion   
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March 16, 2018, 09:09:31 PM
 #17826

This is an interesting blogpost from Dan Hughes (the lead developer of Radix) writing about why DAG coins (like Byteball) will not scale.

https://www.radixdlt.com/post/dags-dont-scale-without-centralization

Byteball is named in only one sentence and it concludes that Byteball (and Iota) are not very censorship resistant.

    "At present, the only way for a DAG to guarantee against double spending and 34% attacks is with the aid of a centralized authority. Byteball, another DAG, has 12 ‘Witness Nodes’ and IOTA has ‘The Coordinator’. These tools mean that the networks are not censorship resistant and that, should the centralized authority be compromised, the network would be vulnerable to an attack from the centralized state itself."

Tonych could you enlighten us about this vulnerability about being censhorship resistance?

#16 in the whitepaper https://byteball.org/Byteball.pdf

I don't think that conclusion is being made with a full understanding of the platform.
16. Censorship...... Only the majority of witnesses can effectively impose forbidden content rules – if users choose such witnesses

government is able to put pressure on public witnesses. And they will simply refuse to be witnesses. In this case it will be almost impossible to find a suitable replacement for them

I don't think there is an inherent deficiency after considering the following. While it is desired at this moment in time that witnesses are publicly known persons you'll find by reading the whitepaper this is not a requirement. Nor is it coded into the protocol. New witnesses could hide real world identifies to avoid government pressure. If attacked (politically or otherwise) the function of witnesses can adapt.

Sure... if all the witnesses colluded at once then censorship exists. But I don't think this risk is inherently higher for Byteball than any POW where pools dominate hashing power or POS where the majority of coins are controlled by insiders.
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March 16, 2018, 10:23:24 PM
 #17827

Quote
While it is desired at this moment in time that witnesses are publicly known persons you'll find by reading the whitepaper this is not a requirement. New witnesses could hide real world identifies to avoid government pressure
the requirement for publicity and reputation comes from the need to prevent such situations as the seven witnesses belong to one person. And reputation as a kind of insurance. This can not be achieved from anonymous witnesses

Quote
This will be much harder in a system where your identity is required, and a strong outside reputation as well, as they then lose their outside reputation too.
my point was about censorship resistance. It is enough to arrange an demonstrative punishment and public persons will refuse to be a witnesses. From that day network down, because all 12 anonymous witnesses  can belong to one person, without strong motivation to be honest. Even if he honest, this is not solution

Quote
And ofcourse over time the gov thread will go down for private currencies as it becomes more a legalized industry less and less at risk against gov attack
Cryptocurrency is not the hope that government will not make attempts to destroy the network. This is a network that government just can't destroy
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March 17, 2018, 05:01:10 AM
 #17828

Sure... if all the witnesses colluded at once then censorship exists.

I don't mean to speak out of my depth here, but currently in Byteball, are not all witnesses tonych?

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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March 17, 2018, 08:10:51 AM
 #17829

It's painful to look like a coin loses its value at such pace Sad 50% per week?) is it already floor? or will we go down until it becomes worthless?
+1

I still blame the shitty setup of the Airdrop fo dis.

The cancellation of the airdrop was definitely the primary reason, but the price has continued to decline long after that was announced. I would attribute the 10-15% correction in the price once the announcement of the cancellation was made as a direct consequence. But what about the subsequent and substantial destruction in value? From the 50s. Byteball has dropped to the 90s in terms of market capitalization. It could soon be out of the top 100.


In case Byteball is certainly a shitcoin, why do Cryptopia take all their consumers' GBYTE build up deposit ?

May be they just can't be bothered to do a fix? If low volumes persist, they might just delist the coin and put an end to it.


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March 17, 2018, 08:25:49 AM
 #17830



Byteball is in the process of establishing a legal entity in Switzerland/Lichtenstein.

This is aimed at bringing marketing and business development to a new level. Consequently, to grow strategically we need a budget enabling us to make short term and medium term plans. We will be converting some allocated funds to Fiat for upcoming expenses on conferences, travel and logistics. To operate and handle Fiat, as well as tax payment you need a legal entity. For potential partners, this is also a requirement, this includes corporations and some exchanges.

Please upvote https://www.reddit.com/r/ByteBall/comments/84wi66/byteball_is_in_the_process_of_establishing_a/

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
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March 17, 2018, 10:21:36 AM
 #17831

Upvoted. Would love to see the Byteball project catch wind.

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March 17, 2018, 12:47:15 PM
 #17832

It's painful to look like a coin loses its value at such pace Sad 50% per week?) is it already floor? or will we go down until it becomes worthless?

It's blood in the streets everywhere in cryptos these days, my guess is that people are selling alts with the intention of going to FIAT until the bloodbath is over.

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cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG


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March 17, 2018, 12:57:51 PM
Last edit: March 17, 2018, 01:57:17 PM by cryptohunter
 #17833

Just finished a small airdrop for new users who linked their BTC address for the cancelled March airdrop.
Total 2022 users.
72 MB to each user.
Total distributed amount: 145.584 GB.

They received this text from the retired transition bot:

Quote
As you perhaps already know, the March airdrop was cancelled since balance-based airdrops stopped bringing more value as they used to do. Other formats of airdrop will be exercised later in the process.
Additionally, we are shifting our focus to product and business development.

We understand that some of users spent money to link a BTC address for this airdrop, and while the airdrop was clearly indicated as tentative, we still want you to be a user of Byteball platform, and to allow you to experience its features, we are sending you 72,000,000 Bytes (worth about $30).



This worked out great. Thanks tony. - 70%

I bought a lot more cheaply ... better than a 10% bonus to the bb i already had.

Now though time to quit the creating uncertainty and mistrust in the community let's start making some bb positive moves before we crash out of the top 100.

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March 17, 2018, 01:47:11 PM
 #17834

In case Byteball is certainly a shitcoin, why do Cryptopia take all their consumers' GBYTE build up deposit ?

They just wanted free airdrop! After Tonych cancelled it they have  released all consumers' GBYTEs.  Grin

 
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March 17, 2018, 03:09:38 PM
 #17835

Sure... if all the witnesses colluded at once then censorship exists.

I don't mean to speak out of my depth here, but currently in Byteball, are not all witnesses tonych?

I think there might be one that is not operated by supreme leader.
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March 17, 2018, 03:12:30 PM
 #17836

Hi, I would like to know if is there an official chat? is there only telegram group or also slack, discord? Huh
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March 17, 2018, 03:35:13 PM
 #17837



Byteball is in the process of establishing a legal entity in Switzerland/Lichtenstein.

This is aimed at bringing marketing and business development to a new level. Consequently, to grow strategically we need a budget enabling us to make short term and medium term plans. We will be converting some allocated funds to Fiat for upcoming expenses on conferences, travel and logistics. To operate and handle Fiat, as well as tax payment you need a legal entity. For potential partners, this is also a requirement, this includes corporations and some exchanges.

Please upvote https://www.reddit.com/r/ByteBall/comments/84wi66/byteball_is_in_the_process_of_establishing_a/

If there is no more such good news, the market cap of Byteball will be out of the first 100 largest coins.
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March 17, 2018, 04:42:16 PM
 #17838

Hi, I would like to know if is there an official chat? is there only telegram group or also slack, discord? Huh

There are lively discussions on our slack, get your invite here: http://slack.byteball.org/

(you better use the social media buttons for an instant invite, with email address only will take much longer)

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
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March 18, 2018, 10:20:01 AM
 #17839

read this one :
https://news.bitcoin.com/pr-bank4you-announces-receiving-byteball-payments/

reality ? you fell to Scammers after being in an ICO , IPO
(more like any other stock and index in the world ICO or not got your portfolio down 25 % or 85 %)
Now  SEC is helping you getting back up your lost money maybe....
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March 18, 2018, 11:11:00 AM
Last edit: March 18, 2018, 11:33:36 AM by afbitcoins
 #17840

It's painful to look like a coin loses its value at such pace Sad 50% per week?) is it already floor? or will we go down until it becomes worthless?
+1

I still blame the shitty setup of the Airdrop fo dis.

The cancellation of the airdrop was definitely the primary reason, but the price has continued to decline long after that was announced. I would attribute the 10-15% correction in the price once the announcement of the cancellation was made as a direct consequence. But what about the subsequent and substantial destruction in value? From the 50s. Byteball has dropped to the 90s in terms of market capitalization. It could soon be out of the top 100.


Agreed. Whole crypto is in a downturn but this fall relative to all the others is very telling. Ranking was about 54th in market cap before ending airdrops to byte holders. Now 86th as I write.

It is easy to understand why. The incentive to hold was removed. I see two possible reasons; either premeditated deliberate sabotage of exchange value of bytes for reasons unknown or else a worryingly inept understanding of market forces. I think latter is slightly better and what I would hope it is. But still is not good. Especially when you consider how many are still left to distribute.,

Sure... if all the witnesses colluded at once then censorship exists.

I don't mean to speak out of my depth here, but currently in Byteball, are not all witnesses tonych?

I think there might be one that is not operated by supreme leader.

I think there is one or (maybe two) that you can opt into if you research how to change your witness list, but default list is all Tonych. I'm guessing very few change the default list.

It is unproven that even one large entity might ever consider doing this (being a witness). However even if all 12 witnesses were different and represented by large companies with reputations to protect. To get them to collude in secret is not a huge stretch of the imagination. They might even be ordered to by governments or intel agencies. Like the way backdoors are put into PC firmware or whatever. I am sure for example banks collude routinely. And when caught only get their wrist slapped. eg look at LIBOR.

"Only when the tide goes out do you discover who's been swimming naked" Starting to wonder if Byteball is one of those, which makes me the unfortunate bag holder  Huh


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