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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1164529 times)
welhzh
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July 12, 2018, 12:51:48 PM
 #19541

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.




good, I am glad to see what will happen to byteball.
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dartanian23
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July 12, 2018, 02:49:14 PM
 #19542

once i enter the amount of currency i wanna make payment in the bot sends me the amount of tokens i will receive and the wallet address i need to make payment to. what's the process afterwards?

LoganAlan
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July 12, 2018, 02:59:21 PM
 #19543

The Byteball wallet doesn’t support BTC directly, that’s why you have to send it to another address. You can check (on their site I assume) if that’s the correct BTC address for their ICO
If you buy tokens with Bytes you will get them directly
tonych
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July 12, 2018, 06:01:07 PM
 #19544

Steem attestation bot launched https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
After attesting your Steem username, you can send/receive money to steem/username instead of a less user-friendly crypto address and receive privileges for high Steem reputation:

- The real name attestation bot offers a 30% discount to users with Steem reputation over 50;
- The “Buy Bytes with Visa or Mastercard” bot offers a 3% bonus of the purchased amount to users with Steem reputation over 50;
- The ICO bot includes an option to offer various levels of discounts depending on Steem reputation. It is up to individual ICOs to enable this option.

There is also an airdrop for Steem users, amounts depend on reputation.  Referrers receive the same rewards as newly attested users they refer.  Part of the reward is locked on a smart contract that vests in 1 year.



To use all that, you need to upgrade to wallet version 2.4.0 released today https://github.com/byteball/byteball/releases.

Other updates in this version:

* Spending unconfirmed funds
* Receiving textcoins before confirmation
* Restored the ability to send private assets between own wallets without going through textcoin files
* Fixed several bugs that could crash full wallets
* Fixed a bug in full wallets that could lead to loss of funds when trying to send a private textcoin and declining the save dialog
* Fixed a bug that sometimes prevented password-locked light wallets from starting
* Fixed weird display of one of initial screens in iPhone X
* Estonian translation, other translations improved

iOS version will be updated with some delay as it needs to be reviewed by Apple.

Simplicity is beauty
jwinterm
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July 12, 2018, 06:14:46 PM
 #19545

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.



You're correct, nominally 12% not 22%, but even so I don't think it's possible to have a legitimate currency where one entity is controlling 10% of the entire supply. This is a major issue for zcash and others, imo, and for a long time even cast a shadow over Bitcoin wrt Satoshi estimated to hold 5% of ultimate supply (though I think it's fairly widely believed that those coins will never move now).

Even 1% as originally proposed is massive. This would be equivalent to someone holding like $50 trillion USD. Five or ten percent or higher is just impossible to be taken seriously as a legitimate worldwide monetary system. I know it might not seem like it based on the mania of last year, but imo there little chance such a centralized system can be seen by most as anything but a money grab or Ponzi.
gerymakgyaer
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July 12, 2018, 06:24:51 PM
 #19546

Introducing A Bridge Between Byteball And Steem (And An Airdrop)

The most important reason why smartphones became so successful is that they allow connections with anyone and everything in the world around them. Their sensors, their continuous internet connection, their touchscreen, cellular networks, the built in GPS, gyroscope and cameras allow developers to build amazing apps that combine data from all of these sources. Thus giving users access to a mind-blowing amount of apps that solve real world problems, apps smartphone users have grown to love.

Byteball is an application platform too and has a similar challenge of building connections with the outside world. The protocol already has the basic mechanisms for building these connections: oracles, witnesses, attestations, and now they should be filled with useful content.
https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
vlom
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July 12, 2018, 06:34:44 PM
 #19547

haha.

Quote
Your transaction failed to process
Why? You've run out of bandwidth
Actions such as posting and voting use computing resources placing a real cost on the community members who run the Steem blockchain for everyone.

To keep things free, Steem intelligently allocates bandwidth to each user based on their Steem Power holdings, their recent usage and overall network demand. This system prioritizes actions by good community members while limiting spam.

To keep interacting on Steemit:

Buy and hold more Steem Power
Wait until your bandwidth recharges
Wait until the network usage decreases

why should I..

|\¯¯ \   /¯¯/| |¯¯¯|__'  /¯¯,¯¯\     /¯¯\/¯ \'  
\  \__\/__/ /' |_____'| |\____ /|'  /__ (\/)__\
  '\|____ |/'   |_____'|  \|___ |/ °|___ |v|___|
    '                                             
    '         [/colo
p3ppymon
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July 12, 2018, 07:53:56 PM
 #19548

The financial plan seems consistent and detailed. Scripting the critical moves is also a fundamental step, and that is accomplished. Perhaps more investment in marketing should not be overlooked. The more the people know the better! Keep the good work up!
LoyceV
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July 12, 2018, 08:54:46 PM
 #19549

hi is the free byte still available to new wallets?
Yes, but it hasn't started yet.

welhzh
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July 13, 2018, 12:46:01 AM
 #19550

Steem attestation bot launched https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
After attesting your Steem username, you can send/receive money to steem/username instead of a less user-friendly crypto address and receive privileges for high Steem reputation:

- The real name attestation bot offers a 30% discount to users with Steem reputation over 50;
- The “Buy Bytes with Visa or Mastercard” bot offers a 3% bonus of the purchased amount to users with Steem reputation over 50;
- The ICO bot includes an option to offer various levels of discounts depending on Steem reputation. It is up to individual ICOs to enable this option.

There is also an airdrop for Steem users, amounts depend on reputation.  Referrers receive the same rewards as newly attested users they refer.  Part of the reward is locked on a smart contract that vests in 1 year.

https://i.imgur.com/oCzEsLv.png

To use all that, you need to upgrade to wallet version 2.4.0 released today https://github.com/byteball/byteball/releases.

Other updates in this version:

* Spending unconfirmed funds
* Receiving textcoins before confirmation
* Restored the ability to send private assets between own wallets without going through textcoin files
* Fixed several bugs that could crash full wallets
* Fixed a bug in full wallets that could lead to loss of funds when trying to send a private textcoin and declining the save dialog
* Fixed a bug that sometimes prevented password-locked light wallets from starting
* Fixed weird display of one of initial screens in iPhone X
* Estonian translation, other translations improved

iOS version will be updated with some delay as it needs to be reviewed by Apple.




I am glad to hear that, it's a great progress. I am buying byteball now.
yumic
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F8LhZQngJWXz7t8VPHQR8R6KZtcWwYHyyU


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July 13, 2018, 03:48:10 AM
 #19551

* Spending unconfirmed funds Can shorten the transfer time? I need to download a new client try.
It is expected that the decentralization of witnesses will proceed smoothly.
Decentralization and scalability problems will be solved.
We look forward to the massive and widespread use of byteball.

_____ DSTRA (https://dstra.io) ▬ ● ▬ FROM COMMUNITY, COMES UNITY ▬ ● ▬ DSTRA (https://dstra.io) _____
ByteFan
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Also seb486


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July 13, 2018, 12:27:49 PM
 #19552

Blackbytes Bytes Exchange BEEB is offering you 1,000,000 Bytes!

Trade BlackBytes on BEEB! - https://beeb-bot.com



Note: the following link can be claimed only once.

Here is your link to receive 1,000,000 Bytes: https://www.beeb-bot.com/textcoinclaim.php#textcoin?festival-tip-execute-race-burst-brief-eternal-drama-hybrid-next-filter-insane

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)
Medairt
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July 13, 2018, 03:48:37 PM
 #19553

Am super excited about this project. would be interested in details of what byte token really entails
meterse
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July 13, 2018, 03:56:51 PM
 #19554



We asked cryptocurrency newcomer Masha to use Byteball smart contracts to bet on the FIFA World Cup. Will she win? https://youtu.be/R1QzYLZf7wA
StandingTall
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July 13, 2018, 04:44:30 PM
 #19555


We asked cryptocurrency newcomer Masha to use Byteball smart contracts to bet on the FIFA World Cup. Will she win? https://youtu.be/R1QzYLZf7wA

Next on the agenda: we asked a newcomer to send an email - here's what happened.


Chancellor on brink of second bailout for banks
bcsuisse
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July 13, 2018, 04:57:36 PM
 #19556

Hi,

I got excited about byteball and logged in to link steem and byteball.
now my byteball adress is in my brothers laptop. how can I log out again?

I remember that there was a button LOG OUT. i dont see that anymore

if anybody has a solution please help.

thanks

Bitrated user: kentokyo.
meneerT
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July 13, 2018, 04:58:43 PM
 #19557

Hi,

I got excited about byteball and logged in to link steem and byteball.
now my byteball adress is in my brothers laptop. how can I log out again?

I remember that there was a button LOG OUT. i dont see that anymore

if anybody has a solution please help.

thanks

just set a password and you are fine
bcsuisse
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July 13, 2018, 05:04:45 PM
 #19558

Hi,

I got excited about byteball and logged in to link steem and byteball.
now my byteball adress is in my brothers laptop. how can I log out again?

I remember that there was a button LOG OUT. i dont see that anymore

if anybody has a solution please help.

thanks

just set a password and you are fine

the problem is not that I dont trust my brother. I just want to logout. there is not way to do that? or wipe the wallet?

Bitrated user: kentokyo.
cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG


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July 13, 2018, 05:05:27 PM
 #19559

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.



You're correct, nominally 12% not 22%, but even so I don't think it's possible to have a legitimate currency where one entity is controlling 10% of the entire supply. This is a major issue for zcash and others, imo, and for a long time even cast a shadow over Bitcoin wrt Satoshi estimated to hold 5% of ultimate supply (though I think it's fairly widely believed that those coins will never move now).

Even 1% as originally proposed is massive. This would be equivalent to someone holding like $50 trillion USD. Five or ten percent or higher is just impossible to be taken seriously as a legitimate worldwide monetary system. I know it might not seem like it based on the mania of last year, but imo there little chance such a centralized system can be seen by most as anything but a money grab or Ponzi.


12% isn't so bad in comparison to 90% of the icos and most of the top 50 in the cmc.
If there is a ledger for full spends and use for development and keeping the dev incentivised that would be okay i think. By the time BB gets any kind of adoption or value then that will be reduced dramatically I would hope to a sensible level.


I think the entire distribution here was a mess so let's just get it over asap and move forward. I would rather they have development funds to keep it all going than lose interest and leave it to die. It is one of the projects with some real development taking place so I'm trying to stay positive about it all.





 

tuanbct95
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July 13, 2018, 05:06:59 PM
 #19560

https://i.imgur.com/5Xcxr9e.png

We asked cryptocurrency newcomer Masha to use Byteball smart contracts to bet on the FIFA World Cup. Will she win? https://youtu.be/R1QzYLZf7wA
Betting football matches, in particular the World cup Final Match, using Byteball and its smart contracts.
Great platform!
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