Obyte: Totally new consensus algorithm + private untraceable payments

[Crypto_Man1212]

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.

[tarmo888]

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.

You can see all Tony's latest posts there https://bitcointalk.org/index.php?action=profile;u=412662;sa=showPosts

Most work has gone into bringing smart-contracts as powerful as Ethereum to Obyte, they will be called Autonomous Agents and it's available on testnet already.
https://medium.com/obyte/introducing-autonomous-agents-6fe12fb12aa3

There has been improvements how witnesses are displayed on app and stats page, so people can make better decision with new upcoming witnesses.
https://medium.com/@pauljamesmurray/wallet-version-2-8-0-released-d620dc825e07
https://medium.com/@pauljamesmurray/showing-the-world-that-blocks-and-miners-are-not-needed-the-alternative-obyte-witness-model-is-a2fa95f4272
https://medium.com/@pauljamesmurray/new-witness-monitoring-service-autonomous-agents-contest-update-408b7a79281a

Also, still lot of effort goes into explaining what witnesses do, some people still confuse them with gatekeepers like block producers or voters. In order to remove the confusion with Steem Witnesses, alternative name to Witnesses is now Order Providers.
https://medium.com/obyte/from-blockchain-to-dag-getting-rid-of-middlemen-28afa7563545

CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE

[ifinta]

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

I agree that the existence of the Coordinator makes it horrible solution, but it's still a DLT.

Good. I understand. IOTA is a kind of WCLT. (= well centralized ledger technology......) Well.
Me "centralized" won't equal "distributed"...... Sorry.

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.

...
CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE

I suggest, that OByte using #1 DAG algo! Yes, OByte is the first working DAG algo. Simple. Blockchain is popular, but don't better. It is then #1 ranking for OByte. Congratulation to all dev's!

[tarmo888]

OByte use DAG as IOTA trying also to use - since years, but IOTA can't solve DAG well. IOTA seems to be the "first" and "big" DAG project, but IOTA isn't a true DLT, because the centralized structure through Coordinator. IOTA will be sold as DLT, but IOTA isn't a DLT project. So is IOTA a simple scam.

I agree that the existence of the Coordinator makes it horrible solution, but it's still a DLT.

Good. I understand. IOTA is a kind of WCLT. (= well centralized ledger technology......) Well.
Me "centralized" won't equal "distributed"...... Sorry.

What's up with Tony these days? Still not caring about what other people recommend and doing only his thing? Project on #262 on CMC, so I guess this must be the case.

...
CoinMarketCap ranking doesn't show any change to these announcement, it has been stuck at #262 since CMC introduced new ranking system for all coins outside top 200.
CoinGecko ranks Obyte on #182 https://www.coingecko.com/en/coins/obyte
Live Coin Watch ranks Obyte on #170 https://www.livecoinwatch.com/price/ByteballBytes-GBYTE

I suggest, that OByte using #1 DAG algo! Yes, OByte is the first working DAG algo. Simple. Blockchain is popular, but don't better. It is then #1 ranking for OByte. Congratulation to all dev's!

Decentralization is spectrum, not binary value.

Open source enables us to improve Bitcoin and many have inspired by Bitcoin to build alternative solutions, trying to fix the shortcomings that Bitcoin has.

Yet, for over 5 years, Bitcoin has preferred ASIC-miners, which has grown so big problem that you have to do it in pools to even have any chance to win a block reward.

And who controls the manufacturing of ASICs - few companies, which products are hard to get in other ways than from those few, GPUs circuits are manufactured by many. Who could buy a GPU and mine ETH? Anyone who owns less than 1 BTC, just go to computer shop and buy bunch of GPUs.

And who controls, which transactions get picked to next block? Mining pools, but it should be individual miners in pool who decide.

All these improvements have been solved on many altcoins, yet Bitcoin is so centralized that none of that gets merged because it's not in the interest of ASIC manufacturers.

Again, not completely centralized and not decentralized, it's a spectrum of many things.

[bacsicare]

With the new release of the wallet which is the best way to make the backup of a full node wallet, so that we backup also the blackbytes? Just to do the full backup or to copy the whole directory?

Why wouldn't you do it the same way you've done it in the part?
Same process for all versions.

Full Backup

It makes a file you can use on any platform.

Now, I think you might be asking how to convert a full node to a light wallet in an attempt to retain your bytes/blackbytes in the process?

I'm just asking since I remember discussions in the past where it was suggested to backup the whole byteball directory so as to be sure to secure also the blackbytes. As for converting a full node to a light wallet I guess you could do that by just transferring you assets to a light wallet on another device, am I right? But in fact would then a full backup of a light wallet retain also the blackbytes?

[tarmo888]

With the new release of the wallet which is the best way to make the backup of a full node wallet, so that we backup also the blackbytes? Just to do the full backup or to copy the whole directory?

Why wouldn't you do it the same way you've done it in the part?
Same process for all versions.

Full Backup

It makes a file you can use on any platform.

Now, I think you might be asking how to convert a full node to a light wallet in an attempt to retain your bytes/blackbytes in the process?

I'm just asking since I remember discussions in the past where it was suggested to backup the whole byteball directory so as to be sure to secure also the blackbytes. As for converting a full node to a light wallet I guess you could do that by just transferring you assets to a light wallet on another device, am I right? But in fact would then a full backup of a light wallet retain also the blackbytes?

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.
Converting a full node to light node is complicated, you could:
* transfer the blackbytes to some other wallet.
* copy the seed words.
* destroy the wallet and start it again to create a light wallet.
* restore the seed words.
* transfer blackbytes back to new wallet.

[naska21]

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.

I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

[tarmo888]

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.

I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

[naska21]

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.

I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

I never trust any cloud services when it comes to these kind of things and my wallet is not password protected. Why would I need it if the wallet is on my home computer. Anyway I use multisig 1-of-2 wallet and if even one of two is out off commission  I'm safe.

[tarmo888]

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.

I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

I never trust any cloud services when it comes to these kind of things and my wallet is not password protected. Why would I need it if the wallet is on my home computer. Anyway I use multisig 1-of-2 wallet and if even one of two is out off commission  I'm safe.

No trust needed when encrypted with strong passphrase. If the backup is on same machine as the wallet then it's really not a backup, but copy of data folder.
But yeah, 1-of-2 wallet is good option too, but it would still be good to have a backup of that other device somewhere else too.

[naska21]

The functionality to backup all wallet data (including private data) is built into the wallet app in the Setting menu.

I'm still using the old-fashion style to backup my light weight client by doing it for the whole ....\AppData\Local\byteball folder and it never let me down.

You are missing one of the features of built-in backup feature, which is the encryption with a passphrase. This makes it possible to backup your wallet to cloud drive.
I guess you could do the same by password protecting the zip file or adding the password spending restriction, but that seems like lot more work.

I never trust any cloud services when it comes to these kind of things and my wallet is not password protected. Why would I need it if the wallet is on my home computer. Anyway I use multisig 1-of-2 wallet and if even one of two is out off commission  I'm safe.

No trust needed when encrypted with strong passphrase. If the backup is on same machine as the wallet then it's really not a backup, but copy of data folder.
But yeah, 1-of-2 wallet is good option too, but it would still be good to have a backup of that other device somewhere else too.

The copy of Obyte's data folder on the non-system drive that residents on the same machine is still a back-up if the system drive failed.  Of course, it's a matter of taste whether you holding that copy on second drive or, say, on removable flash drive.

[tonych]

Two news today:

1. We are looking for a better name for "witness"
https://medium.com/obyte/whats-a-better-name-for-a-witness-cd48c6355793
See the article to learn why we need it.



2. Bosch is a witness candidate
https://medium.com/obyte/bosch-connectory-is-the-next-candidate-to-become-a-witness-on-the-obyte-public-network-b99572870644



You are invited to vote during the next 2 weeks through the Poll Bot in your wallet.
The results so far:

[naska21]

2. Bosch is a witness candidate

Bosch  means Robert Bosch GmbH  - the world-known company from Germany, right? If yes I will definitely vote. 

[tarmo888]

2. Bosch is a witness candidate

Bosch  means Robert Bosch GmbH  - the world-known company from Germany, right? If yes I will definitely vote. 

Yes, but Robert Bosch GmbH has many subsidiaries, this witness is from Bosch Stuttgart Connectory subsidiary.

[ifinta]

Bosch? Seems promising...
It can be later a world wide support for OByte.

[StandingTall]

In the meantime all time low reached yesterday: 0.00178 BTC per GB.

Buy when there's blood on the street?
Or harbinger of further decline?

[Future Person]

Is it still possible to see addresses that have participated in the old airdrop? That page seems down.

[Lortz]

Any bagholders looking to sell large amounts, please message me. 500GB or more.

We can do escrow with someone reputable from the community.

Cheers

[vikutoria]

Bad news -> sell. Good news -> sell. Crypto winter
Hopefully, it will not last forever, the number of Bytes is limited I like the fact that very little is given for free these days.

I can understand sellers who bought earlier and now cover losses. But those who get for free, I can't understand. My position is that the team gives me free shares in exchange for trust in their work -> hold them while the project grows and sell them when it is strong and mature enough. Presently the team is working really hard and continues developing no matter what price is and no matter what others say. And the results are impressive.
Congrats with the new witness candidate! I see the big opportunity with this relationship.

[StandingTall]

I wonder if this price decline is not excacerbated by Tony himself.

How are the costs of running the project covered? We see some people hired so there are wages to pay.
The project has no revenue streams so the only conclusion is that the costs are covered by selling the remaining stash of GB. As the coin cap is very small and liquidity almost non-existent any sells by Tony drive the price down heavily.

There's still 27% of all GB to be dumped so there's still plenty of room to go down.
I wonder if the project will not die off after no more GB are left to sell.
It will be a moment of reckoning for the project.