Obyte: Totally new consensus algorithm + private untraceable payments

[examplens]

Obyte confuses me. Technologically it's incredibly sexy stuff. I'm surprised it's so far below IOTA and NANO in market cap. I suppose the never-ending distribution isn't helping. It's hard to convince people that something is valuable when you're forever giving it away.

One thing is for sure: that logo and icon are shamefully, shamefully bad. Just incredible amateur looking. Please consider changing them.

Sometimes the simplest is the best. I don't see anything bad in logo design. I like it just because of it's simple.

[StandingTall]

Price update. Hint - don't buy GBYTE yet.

[fuk]

BTC up - gbyte down
BTC do nothing - gbyte down
BTC down - gbyte down
it's simple 0byte ded

[MrChicken1987]

Obyte confuses me. Technologically it's incredibly sexy stuff. I'm surprised it's so far below IOTA and NANO in market cap. I suppose the never-ending distribution isn't helping. It's hard to convince people that something is valuable when you're forever giving it away.

One thing is for sure: that logo and icon are shamefully, shamefully bad. Just incredibly amateur looking. Please consider changing them.

I don't know if that is for sure. I like the logo, but if you have a better suggestion: Feel free. I also think that you might get some Obyte for a good logo. But I think that the logo is pure simplicity and I like it.

But I agree that the never-ending distribution is a big disadvantage. I already said it: We need more usecases. The companies should get some Bytes if a payment was done with Obyte. Cashback for the user included, but the companies should also get.... lets say 5% of the paid Obytes on top.
Or they should get 1000 GBytes if they include Obyte into their payment process until 31st December or something like that.

I love this project so much. I love the tech, I love the ideas, I love the wallet, I love the simplicity. There is so much good about it. If you want, you can use a private coin on the plattform. Transaction fees are amazingly low. I love it.
And I truly think that the price is something that will increase over time.
 
But honestly: You can't do much with bytes. The list of merchants accepting bytes is shamefully short (also there should be a seperate wiki for the merchants). I hold my bytes now since the beginning, but the adoption is painfully slow.
There are almost 9 million dollar unspend at the current market price. There must be something that could be done with so much money in the backhand.

[altcoinb]

But I agree that the never-ending distribution is a big disadvantage. I already said it: We need more usecases. The companies should get some Bytes if a payment was done with Obyte. Cashback for the user included, but the companies should also get.... lets say 5% of the paid Obytes on top.
Or they should get 1000 GBytes if they include Obyte into their payment process until 31st December or something like that.

Cashback or reward for companies is a interesting train of thought! 
The project have 272.141 GB undistributed gbytes left.
With the weekly draw (ca 400gb) it will be need 680 weeks / 13 years...
Ok, i know we have other distribution ways, than it need ~10 years

[tarmo888]

But I agree that the never-ending distribution is a big disadvantage. I already said it: We need more usecases. The companies should get some Bytes if a payment was done with Obyte. Cashback for the user included, but the companies should also get.... lets say 5% of the paid Obytes on top.
Or they should get 1000 GBytes if they include Obyte into their payment process until 31st December or something like that.

Cashback or reward for companies is a interesting train of thought! 
The project have 272.141 GB undistributed gbytes left.
With the weekly draw (ca 400gb) it will be need 680 weeks / 13 years...
Ok, i know we have other distribution ways, than it need ~10 years

That doesn't look like never-ending distribution to me. BTC has never-ending (over 100 years) distribution.

[Wekkel]

With Bitcoin the manner and the distribution scheme is known (set in stone). With GBYTE, it’s basically a number of coins forming an unknown factor and overhang on the market. I like the airdrops. Perhaps dumping can be discouraged by locking airdropped coins in a smart contract of 12 months or so?

[tarmo888]

With Bitcoin the manner and the distribution scheme is known (set in stone). With GBYTE, it’s basically a number of coins forming an unknown factor and overhang on the market. I like the airdrops. Perhaps dumping can be discouraged by locking airdropped coins in a smart contract of 12 months or so?

So, length is not a problem then, but the uncertainty of distributions methods is the problem. That doesn't seem what never-ending means.
Any data that shows that draw airdrops get dumped on exchanges? Seems more like more and more airdrop rewards get linked on draw airdrop and not dumped on exchanges.
The price going up or down on exchanges is usually happening with quite small amounts. If there is dumping, then it's something else than draw airdrop because draw airdrop is the most transparent about who got how much, for other methods you need to do heavy chain analysis.

[tonych]

Most of the activity is on Discord now.  A couple of news that we didn't cross-post to this forum yet:

1. Fabien Marino added to witness list of Obyte default hub
https://medium.com/obyte/fabien-marino-added-to-witness-list-of-obyte-default-hub-5e57865e04bc





2. We are running a photo competition: Take a photo that features an O. Any O! The 3 best photos will be awarded a prize.


It could be a man-made O




Or an O that has occurred naturally in nature



Details: https://medium.com/obyte/show-the-world-your-creative-talents-and-enter-the-obyte-summer-photo-competition-56dc3a170436

[afbitcoins]

With Bitcoin the manner and the distribution scheme is known (set in stone). With GBYTE, it’s basically a number of coins forming an unknown factor and overhang on the market. I like the airdrops. Perhaps dumping can be discouraged by locking airdropped coins in a smart contract of 12 months or so?

Agreed. But I think the airdrops should just be done, no smart contract. Give it to all the holders. At this point any holders left standing are diehard about byteball. Get it over and done with, like ripping off a bandaid. Yes the price might crash more, or maybe not if it really is the diehard holders who would be more likely to hodl. But sfter that all uncertainty of the airdrop is removed. There is no more inflation of supply. The road from there is up.

(ahem not mentioning centralised witnesses at this point)

Bitcoin aren't given away for free you expend a lot of energy to mint new bitcoin. Byteball is a never ending airdrop of a 100% premine at whim of the holder. There is vast difference. Bitconi is predetermined by the protocol. Byteball is .. oh never mind. I've been through this countless times before.

Its laughable that so many are clueless, especially people involved in the project,  why the byteball distribution has been a disaster.

edit. sorry obyte

[jwinterm]

With Bitcoin the manner and the distribution scheme is known (set in stone). With GBYTE, it’s basically a number of coins forming an unknown factor and overhang on the market. I like the airdrops. Perhaps dumping can be discouraged by locking airdropped coins in a smart contract of 12 months or so?

Agreed. But I think the airdrops should just be done, no smart contract. Give it to all the holders. At this point any holders left standing are diehard about byteball. Get it over and done with, like ripping off a bandaid. Yes the price might crash more, or maybe not if it really is the diehard holders who would be more likely to hodl. But sfter that all uncertainty of the airdrop is removed. There is no more inflation of supply. The road from there is up.

(ahem not mentioning centralised witnesses at this point)

Bitcoin aren't given away for free you expend a lot of energy to mint new bitcoin. Byteball is a never ending airdrop of a 100% premine at whim of the holder. There is vast difference. Bitconi is predetermined by the protocol. Byteball is .. oh never mind. I've been through this countless times before.

Its laughable that so many are clueless, especially people involved in the project,  why the byteball distribution has been a disaster.

edit. sorry obyte

Dude. Just take a picture of a man-made or naturally occurring "O" shaped object and be grateful for your crumbs lol.

[tarmo888]

With Bitcoin the manner and the distribution scheme is known (set in stone). With GBYTE, it’s basically a number of coins forming an unknown factor and overhang on the market. I like the airdrops. Perhaps dumping can be discouraged by locking airdropped coins in a smart contract of 12 months or so?

Agreed. But I think the airdrops should just be done, no smart contract. Give it to all the holders. At this point any holders left standing are diehard about byteball. Get it over and done with, like ripping off a bandaid. Yes the price might crash more, or maybe not if it really is the diehard holders who would be more likely to hodl. But sfter that all uncertainty of the airdrop is removed. There is no more inflation of supply. The road from there is up.

Its laughable that so many are clueless, especially people involved in the project,  why the byteball distribution has been a disaster.

You would give rest of the bytes to existing hodlers and what then?
We would still have small amount of users, but they would just have bigger bags.
Any examples of projects that distributed all their coins with just 2-3 years and now they are doing great?

Best way how to get people use Obyte is by giving the tools to use it, which in Obyte case is not just the software, but also the bytes.
Without distribution fund, who would pay for the real name attestation costs of new users, you think companies like Jumio do it for free?
I get it, you think real name attestation is pointless, but you are not an user either, your just hodler, you only wish to see the price to go up.

If anyone is clueless then that's you because you don't see the bigger picture. You just want that instant gratification of seeing nice number on your portfolio that you never cash out.

[fuk]

222 new low guys

[tonych]

A major update is coming to livenet in 2-4 months, today it was launched on testnet.

The update introduces Autonomous Agents and vastly increases the design space available to developers.

Here are some ideas of apps that can be created based on Autonomous Agents:

*    tradable shares in prediction markets;
*    futures contracts;
*    algorithmic stable coins;
*    synthetic assets;
*    other derivatives;
*    collateralized lending;
*    margin trading;
*    decentralized exchange;
*    decentralized oracles;
*    payment channels;
*    game economies;
*    market makers;
*    automatic management of investment portfolios;

Read the full story https://medium.com/obyte/introducing-autonomous-agents-6fe12fb12aa3



To encourage development of new apps and to extensively test the new functionality while it is still on testnet, we are simultaneously launching a developer contest

https://medium.com/obyte/obyte-autonomous-agents-developer-contest-6a67ae3dacd2

Every two weeks we'll have up to 4 winners:

Best apps:
    Winner: 140 GB + 422 GBB
    2nd place: 70 GB + 147.7 GBB
    3rd place: 35 GB + 73.85 GBB

Best tutorial/guide: 55 GB + 116.05 GBB

The prize pool comprises of undistributed funds that would otherwise have been spent in the weekly Draw Airdrop, making the draw a bi-weekly event.

Instead of distributing funds at random to existing Obyte users, money is instead spent on incentivizing creation of useful applications on the platform.

With this move, we are course-correcting our distribution policy and do not plan to launch any major distribution campaigns targeted at acquiring new users before a sufficient number of popular apps is built.

https://medium.com/obyte/distribution-outlook-bb28ff0b91aa

[fuk]

We believe that the retention rates could be improved by having more apps on the platform that the users would engage with and extract value from.

LOL two years later you heard us. Too late tony

[Wekkel]

Never too late.

[tarmo888]

We believe that the retention rates could be improved by having more apps on the platform that the users would engage with and extract value from.

LOL two years later you heard us. Too late tony

Where have you been living? Under the rock? Obyte has been all the time "we need more adoption". There has been always been more tools available than anybody could need, now there is even more.

[fuk]

We believe that the retention rates could be improved by having more apps on the platform that the users would engage with and extract value from.

LOL two years later you heard us. Too late tony

Where have you been living? Under the rock? Obyte has been all the time "we need more adoption". There has been always been more tools available than anybody could need, now there is even more.

users don't need your tools, they need apps. Apps better than other places can offer

[tarmo888]

We believe that the retention rates could be improved by having more apps on the platform that the users would engage with and extract value from.

LOL two years later you heard us. Too late tony

Where have you been living? Under the rock? Obyte has been all the time "we need more adoption". There has been always been more tools available than anybody could need, now there is even more.

users don't need your tools, they need apps. Apps better than other places can offer

No sh!t, and who are doing these apps? Developers. This latest update is specially for them, so they can build more decentralized apps by doing more on-chain.
Are you now saying that you have been telling we need more developers on Obyte all the time and nobody hasn't listened you?

[Mac Red]

That’s some pretty awesome news Tony. Excellent idea to shift focus to reward developers.