Obyte: Totally new consensus algorithm + private untraceable payments

[meterse]

Introducing Smart Vouchers: A New Way To Earn Referral Rewards By Sending Bytes To New Users

Smart Vouchers is a safer way to get referrals than sending them $8 in Bytes (which they might not spend as intended).

As before, attestation rewards are sent to smart contracts vesting in 1 year.

Referral rewards are sent back to the smart voucher and allow to fund more attestations.  Net profit from referral rewards can be withdrawn to a smart contract vesting in 1 year.

Read the full story https://medium.com/byteball/introducing-smart-vouchers-a-new-way-to-earn-referral-rewards-by-sending-bytes-to-new-users-38972ec645a7

the beauty is the referer only needs to do the KYC one time.

so someone could spend 10 minutes doing KYC, generate a voucher code and share it on instagram, facebook etc.

50% success rate is $12 or 75% ROI, 100 people $1,200

this may not go viral immediately but in time it well might

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[Thul]

Introducing Smart Vouchers: A New Way To Earn Referral Rewards By Sending Bytes To New Users

Smart Vouchers is a safer way to get referrals than sending them $8 in Bytes (which they might not spend as intended).

As before, attestation rewards are sent to smart contracts vesting in 1 year.

Referral rewards are sent back to the smart voucher and allow to fund more attestations.  Net profit from referral rewards can be withdrawn to a smart contract vesting in 1 year.

Read the full story https://medium.com/byteball/introducing-smart-vouchers-a-new-way-to-earn-referral-rewards-by-sending-bytes-to-new-users-38972ec645a7

https://cdn-images-1.medium.com/max/1400/0*kSf5WvzM2biewVMm

the beauty is the referer only needs to do the KYC one time.

so someone could spend 10 minutes doing KYC, generate a voucher code and share it on instagram, facebook etc.

50% success rate is $12 or 75% ROI, 100 people $1,200

this may not go viral immediately but in time it well might

There's nothing "beauty" about KYC.

What kind of insane person comes up with such an idea?

[meterse]

Hey all I was wondering how many % of total gbyte supply has been distributed as of today?

I saw the airdrop has completed 65% distribution, but not sure about the other bounties. Anyone?

I believe the other bounties are negligible.

the grant programme is not capped https://medium.com/byteball/byteball-grants-program-906a71b93d3c

[altcoinb]

@all fud and byteball haters

PLEASE LEAVE THE THREAD!!
or ask you the follow questions

• Where were your ideas for the use-a-thon contest?
• Why you cant subscribe the newsletter?
• What are you doing for the project?
• Why you cant read the whitepaper?

What is this for a shitstorm?
I'm not happy with everything, but i remain objective.
Look at github and see how many time spend tonych in this project.

The only bullshit are your comments!
If you can do it better, clone the project and do it!!

[vlom]

Introducing Smart Vouchers: A New Way To Earn Referral Rewards By Sending Bytes To New Users

I like the text in your signature. Simplicity is beauty.

But the graphic that should explain Smart Vouchers is not understandable - too complicated.
So I will read the blogpost and hope to understand it afterwards.

[Thul]

[...]
Look at github and see how many time spend tonych in this project.
[...]

It's bad enough that no one in the community can get this guy on track and motivate him not to waste his time with nonsense.

The real world needs a solution, not the not yet existing dream world.. 

[vlom]

after reading the medium post I now know how it works.
thats why I have a question.

To be able to generate Smart Vouchers you have to be an attested user. The fact that you are an attested user is stored in the DAG.

At the same time, a hash of the personal data is stored on the public DAG and signed by a trusted attestor. The attestor also serves as a witness, so it is already trusted.

After creating Smart Vouchers anybody who received the code can use it to get attested.

Let’s say you share it with your brother Ben (referred user). He can then use that code instead of paying the $8 fee for a Real Name Attestation (to prove he really is Ben and not a robot trying to game the system).

This fact is stored in the DAG too.

@tonych
Are these two attestations now linked in a way? And if yes how?
thank you.

Because if this link is stored and is even visible somehow in the DAG then I wont use this feature.

[Wekkel]

I wonder whether people using the voucher can burn $8 from the voucher by deciding half way to ditch the KYC process and terminate early.
Second, if the Voucher is not fully used, can the funds paid into it be reclaimed?

[vlom]

What kind of insane person comes up with such an idea?

I am almost sure that this new program is linked to real name attestation because all the other programs have been misused. Do you remember what happened with the telegram quiz? Or are you aware of the problems with the steem thing?

The problem is the greed of so many people and the willingness to do a lot of things just to get some "free bytes".

[vlom]

[...]
Look at github and see how many time spend tonych in this project.
[...]

It's bad enough that no one in the community can get this guy on track and motivate him not to waste his time with nonsense.

The real world needs a solution, not the not yet existing dream world.. 

As long as people like you are the community tonych wont be motivated. Your postings are everything but motivating.

[meterse]

What kind of insane person comes up with such an idea?

I am almost sure that this new program is linked to real name attestation because all the other programs have been misused. Do you remember what happened with the telegram quiz? Or are you aware of the problems with the steem thing?

The problem is the greed of so many people and the willingness to do a lot of things just to get some "free bytes".

I think you are correct about why real name attestation is used.

The good news is Byteball has found a better way of distribution (verifying real world IDs and delaying the release of payments by smart contracts)

The future is bright for the remaining distributions

[meterse]

@all fud and byteball haters

PLEASE LEAVE THE THREAD!!
or ask you the follow questions

• Where were your ideas for the use-a-thon contest?
• Why you cant subscribe the newsletter?
• What are you doing for the project?
• Why you cant read the whitepaper?

What is this for a shitstorm?
I'm not happy with everything, but i remain objective.
Look at github and see how many time spend tonych in this project.

The only bullshit are your comments!
If you can do it better, clone the project and do it!!

I think the FUD is from newbie accounts, probably paid for by other projects feeling threatened.

Better just to ignore them and reply to people that make genuine posts (both positive and  negative)

[meterse]

Introducing Smart Vouchers: A New Way To Earn Referral Rewards By Sending Bytes To New Users

I like the text in your signature. Simplicity is beauty.

But the graphic that should explain Smart Vouchers is not understandable - too complicated.
So I will read the blogpost and hope to understand it afterwards.

agreed, graphic is complicated but we wanted to show people how it works.

to be honest Im not sure people will care. if they think they can make money growing the network (which they should be able to) it could really fly.

Further what people need to know is not hard. Just send some bytes to create a voucher code and share it with other people. They dont really need to know exactly how it works

[tonych]

Are these two attestations now linked in a way? And if yes how?
thank you.

The link is known to the bot but it is not public.

[tonych]

Lol finally you implement partially my idea!! After some months of getting dust on slack.

My complete idea would be:
Instead of

$12 is sent to a smart contract on Ben’s wallet. He can withdraw that amount 1 year later.

should be

$12 is sent to a smart contract on Ben’s wallet. He can withdraw that amount 1 year later OR use it to fund attestations.

By this way, IT COULD BE viral. I don't know if it is possible.

EDIT: well, if the bot sends the $12 to Ben's voucher, then it is done. Or did I missed something?

Thanks for the suggestion but since most users (like Ben) are not going to be sponsors, we don't want to introduce extra steps for them.

Instead of

$12 is sent to a smart contract on Ben’s wallet. He can withdraw that amount 1 year later.

should be

$12 is sent to a smart contract on Ben’s wallet. He can withdraw that amount 1 year later OR use it to fund attestations.

What is sent to the smart contract, cannot be withdrawn before the 1 year vesting period by anybody, that's the nature of smart contract.

[tarmo888]

There's nothing "beauty" about KYC.

What kind of insane person comes up with such an idea?

Actual Byteball users come up with such ideas, people who see that there is a way to make attestations with fees more accessible to more people. Byteball distributions evolve all the time:
* First there was airdrop to BTC users, but these free bytes were dumped and more BTC was acquired with them. Also, every next round had less new users, so free bytes were airdropped to same people over and over again. Unfortunately, over 50% of bytes were wasted on that distribution, which probably motivated to make future distributions step-by-step more smarter.
* Then real name attestation distribution was created, but users needed to get $8 for Jumio fee. It went viral in Venezuela, so the 1 year vesting was introduced to avoid bytes dumping on exchanges.
* Then Steem attestation distribution was created, which also went viral, but there was problem with referring new users because everybody tried to become the referrer. It was great for virality, but not so great for referrers, so multiple other referring methods were added.
* Now smart vouchers solve the problem that there is no need to send the fee to new users in order to become a referrer, referrers can use smart vouchers instead. It also has 1 year vesting, so not everything gets dumped to exchanges right away.

This means that next attestation will probably use all the previous stuff that have proven to be good for the distributions.

If you don't want to do the KYC, you don't have to, nobody is forcing you do to the real name attestation, unless you want to use some feature that requires it. Lot of people probably see it as a way to earn free bytes like it is possible to earn free stuff via referral codes on other platforms. Not everybody is against KYC, some people understand that if you are handling fiat then KYC is required.

Decentralized exchange like Bisq is cool as a technology, but it has nowhere near the volumes that centralized exchanges have. Most of it's volume also comes from XMR/BTC pair, not from fiat pairs.

[tonych]

I wonder whether people using the voucher can burn $8 from the voucher by deciding half way to ditch the KYC process and terminate early.

They can, that's the risk sponsors are taking.  The limit of 2 attempts per user helps mitigate the risks.

Second, if the Voucher is not fully used, can the funds paid into it be reclaimed?

Yes.

[barborrico]

Thanks for the suggestion but since most users (like Ben) are not going to be sponsors, we don't want to introduce extra steps for them.

I was thinking the opposite. Make users like Ben sponsors and let them spread the platform.

But if you say they are not going to be sponsors, I have nothing more to say.

[vlom]

Are these two attestations now linked in a way? And if yes how?
thank you.

The link is known to the bot but it is not public.

and who knows what the bot knows? 

[Thul]

What kind of insane person comes up with such an idea?

I am almost sure that this new program is linked to real name attestation because all the other programs have been misused. Do you remember what happened with the telegram quiz? Or are you aware of the problems with the steem thing?

The problem is the greed of so many people and the willingness to do a lot of things just to get some "free bytes".

Distribution should benefit those who use this currency as what it exists for: Offer and purchase of goods and services. - Of course, not where Visa & Co. dominate, and not at the retailer around the corner.

The target focus should be the market that already exclusively uses crypto currencies. Here for the x-th time "Open Bazaar" is mentioned. - I remember the "Bitcoin Cash" distribution to people who opened a shop on this platform.

The distribution to those who hope for a performanceless (finally Fiat-)income is a waste of time and energy and certainly does not increase real demand.

It is clear that very few of the community will support this idea. Who has so much self-determination and initiative to open their own shop?
One wants to draw something for free, and exactly this virtue is served by the Byteball management. And that's exactly why it won't work with the desired broad distribution. Because nobody knows what to do with the received "Bytes".

I would very much like to offer my goods on Open Bazaar for "Blackbytes", but I can't do that.

Currently Bytes and Blackbytes are hardly usable, and it doesn't look as if something is changing so fast, for which not only the naming is responsible...