Obyte: Totally new consensus algorithm + private untraceable payments

[tarmo888]

Only liquidity providers who provide liquidity with GBYTE might have some loses if they don't rebalance the pools, other non-GBYTE liquidity providers are not affected.

Nope, all liquidity providers lose their money because they need to swap to Gbyte at the very end. None of the existing stablecoins can be directly traded for BTC, Gbyte is the only option. Price is getting crazy, my blockfolio app shows $136.77 right now.  Gbyte, I'm saying  seriously, stop immediately and go back to $20.

I don't think it works like this, if you are holding a stablecoin, then you are not losing value, you still have the value of that specific stablecoin.
Only thing that stablecoin holders lost was the opportunity to get more BTC or USD by selling GBYTE at higher price.
If you bought IBIT when it was launched at 10 000 USD and sell it now for 60 000 USD worth of GBYTE, you still made 6x.
Same with ITH, when it was launched, it cost 575 USD worth of GBYTE, now it is worth 2300 USD worth of GBYTE, so you made 4x gain.

[1713490488]

1713490488

[hopenotlate]

May anyone explain how to sell my blackbytes for GB ( or something else)?  I added the blackbytes exchange from the bot store but am doing something wrong : I click on buy orders that show up but  nothing happens. Anyone using it and  have a clue?

[tarmo888]

May anyone explain how to sell my blackbytes for GB ( or something else)?  I added the blackbytes exchange from the bot store but am doing something wrong : I click on buy orders that show up but  nothing happens. Anyone using it and  have a clue?

Is it the same exchange as the one with screenshots there? https://blackbytes.io/
Are you using the latest v3.3.1 wallet app?

[Fallenkeith75]

Checking back on this project after a really long time. It's nice to see it still in active development

[tarmo888]

Reminder, these are current distributions that are going on:

* weekly 100 GBYTE + 100 GBYTE for trading GBYTE
https://blog.obyte.org/obyte-trading-rewards-c7abf1086518

* weekly $3000 for promoting DeFi
https://blog.obyte.org/introducing-referral-program-for-bonded-stablecoins-b5455f189c1c

* weekly 100 GBYTE for providing liquidity in DeFi
https://blog.obyte.org/liquidity-mining-8cce2bf3722e

* daily fees compensation (max 10 GBYTE) for buying DeFi coins with other crypto
https://blog.obyte.org/distribution-to-buyers-of-bonded-stablecoins-4854b4570a03

* daily small reward for donating CPU power to research (now possible to do COVID-19 research with GPUs too)
https://blog.obyte.org/computing-for-good-again-3795336bdaed
https://blog.obyte.org/obyte-and-world-community-grid-join-the-fight-against-sars-cov-2-2917a43ab402
https://www.worldcommunitygrid.org/about_us/viewNewsArticle.do?articleId=693

more info: https://obyte.org/distribution

[romeshomey]

I haven't opened my wallet for 3 years.   I thought I sold my GB back then but upon looking at the wallet, it shows my transaction of sending the GB as unconfirmed.

How can I recover the sent but unconfirmed GB?  Shows sent in 2018 but unconfirmed.  

Also, this wallet had been restored and my blackbytes balance is showing 0, but I have this other address in the wallet I have no idea what the tokens are, like billions of them.  There is no token description however.  Any idea what those would be?

Edit: Seems my wallet is just not synced, therefor the transaction is confirmed on the blockchain (confirmed on explorer) but not my wallet.  Disregard.

[romeshomey]

Everytime I start my wallet I get a prompt about using a old client with an new database.  I have upgraded the wallet and allowed it to upgrade the database, however I still get this prompt everytime I try to open the wallet and when I click 'ok' on the prompt the wallet closes.  

Edit: Looks like this was due to restoring a 32 bit backup to a 64 bit machine.

[tarmo888]

I haven't opened my wallet for 3 years.   I thought I sold my GB back then but upon looking at the wallet, it shows my transaction of sending the GB as unconfirmed.

How can I recover the sent but unconfirmed GB?  Shows sent in 2018 but unconfirmed.  

Also, this wallet had been restored and my blackbytes balance is showing 0, but I have this other address in the wallet I have no idea what the tokens are, like billions of them.  There is no token description however.  Any idea what those would be?

Assuming you have light node, maybe you have not update the witnesses and it can't find the history properly? Or did you restore a old copy of full node and it hasn't synced to the part where the transaction became confirmed.

If the asset ID is mX/3+2P2hssneRo9HsSjhZYrHL/kD+at+vnymNcBRKA= then it's probably just spam asset, you can hide assets when you click on the Gear icon.

Everytime I start my wallet I get a prompt about using a old client with an new database.  I have upgraded the wallet and allowed it to upgrade the database, however I still get this prompt everytime I try to open the wallet and when I click 'ok' on the prompt the wallet closes.  

Have you installed Obyte wallet v3.3.1? Maybe you used it once and now still trying to open old Byteball wallet, which no longer works. I am guessing you have 2 wallets installed, use the Obyte one.

[romeshomey]

Assuming you have light node, maybe you have not update the witnesses and it can't find the history properly? Or did you restore a old copy of full node and it hasn't synced to the part where the transaction became confirmed.

If the asset ID is mX/3+2P2hssneRo9HsSjhZYrHL/kD+at+vnymNcBRKA= then it's probably just spam asset, you can hide assets when you click on the Gear icon.

Not light node, full node. 

Have you installed Obyte wallet v3.3.1? Maybe you used it once and now still trying to open old Byteball wallet, which no longer works. I am guessing you have 2 wallets installed, use the Obyte one.

Yes, however when executing the v3.3.1 Obyte wallet, it still utilizes the same shortcuts that the previous Gbyte wallet used.  It even shares the same pinned task bar shortcut so I'm assuming its actually the same wallet with a new name typed on it.

[romeshomey]

If the asset ID is mX/3+2P2hssneRo9HsSjhZYrHL/kD+at+vnymNcBRKA= then it's probably just spam asset, you can hide assets when you click on the Gear icon.

Ok, looks like thats what that is.

I had a lot of blackbytes on the previous wallet when it was on another PC.  I can't seem to get those to show anymore.  Bummer.

[romeshomey]

So I installed the new Obyte wallet.  It creates a New Obyte wallet on my system, however when opening it, it seems to be opening the same ole Gbyte wallet however it has the new Obyte -- Smart Payments at the top of the wallet.  However the shortcuts I had for the old Gbyte wallet are connected to the new Obyte wallet.  For example when I open the Obyte wallet the pinned Gybte wallet on my taskbar is executed. 

Seems even though the 2 wallets are named and installed as different programs they still share the same paths when executing the new Obyte wallet installation.

Am I supposed to uninstall the Gbyte wallet after installing and upgrading the DB with the Obyte wallet?

lol

[tarmo888]

So I installed the new Obyte wallet.  It creates a New Obyte wallet on my system, however when opening it, it seems to be opening the same ole Gbyte wallet however it has the new Obyte -- Smart Payments at the top of the wallet.  However the shortcuts I had for the old Gbyte wallet are connected to the new Obyte wallet.  For example when I open the Obyte wallet the pinned Gybte wallet on my taskbar is executed. 

Seems even though the 2 wallets are named and installed as different programs they still share the same paths when executing the new Obyte wallet installation.

Am I supposed to uninstall the Gbyte wallet after installing and upgrading the DB with the Obyte wallet?

lol

The new app installs into different path than the old one, so you might have 2 apps installed, but the data is loaded from original place with both apps. That's why the version mismatch when opening already upgraded database with old app. You should uninstall the old app and only keep the new app.

[tarmo888]

If the asset ID is mX/3+2P2hssneRo9HsSjhZYrHL/kD+at+vnymNcBRKA= then it's probably just spam asset, you can hide assets when you click on the Gear icon.

Ok, looks like thats what that is.

I had a lot of blackbytes on the previous wallet when it was on another PC.  I can't seem to get those to show anymore.  Bummer.

Did you restore from seed words? Blackbytes are not on public chain and can be restored only from backup file. Seed words only restore public data, Bytes and other assets.

[tonych]

Meet Bonded Stablecoins v2: better price stability, better liquidity, more favorable conditions for traders, and stakable stable tokens!





V2 provides natural incentives for traders/arbitrageurs to keep the price near the peg, plus there is an algorithmically managed stability fund which intervenes when necessary.

Buying shares in the stability fund is betting on the growth of stablecoin issuance.

More details in the blog: https://blog.obyte.org/bonded-stablecoins-version-2-better-price-stability-and-stakable-tokens-ca8c900552ab

USD and BTC pegged tokens:
IUSDV2: USD + 16% interest https://ostable.org/trade/VLKI3XMMX5YULOBA6ZXBXDPI6TXF6V3D/buy-redeem
IBITV2: BTC + 11% interest https://ostable.org/trade/KSBNS2R5HUBN5AHYJLZVCADEQAHOLRCD/buy-redeem

[tarmo888]

Why does Obyte use such strange term as "bounded" when describing their stablecoins? For me all their stablecoins fall into well established class  of algorithmic stablecoins the price of which is automatically controlled by algorithms. They use the  bivariate function in their algo to control the price but the essence of their stablecoins  doesn’t change - they are just algorithmic ones.  IMO, this  "bounded" in conjunction with stablecoin looks like "window-dressing" .

Algorithmic stablecoins are usually not backed by anything, Bonded stablecoins have reserve asset that backs them and is used to buy them. Mostly that reserve asset is GBYTE, but there can be any any token, even one of the stablecoins like OUSD or OUSDV2.

The name Bonded comes from bonding curve. There aren't many stablecoins with bonding curves and there isn't any with bonding surface (multi-dimensional bonding curve).
https://coinmarketcap.com/alexandria/glossary/bonding-curve

[adaseb]

Been a while since I last used Byteball. Does anyone know if the wallet which was released back in 2017 still works? Or do I need to upgrade to a newer wallet. I have all the old wallet backups saved.

Great to hear that this coin is still alive and going places. Great developement. I still remember getting the airdrops every full moon.

[tarmo888]

Been a while since I last used Byteball. Does anyone know if the wallet which was released back in 2017 still works? Or do I need to upgrade to a newer wallet. I have all the old wallet backups saved.

Great to hear that this coin is still alive and going places. Great developement. I still remember getting the airdrops every full moon.

No, the old Byteball wallet doesn't work, you need Obyte wallet app. Latest is v3.3.1

[tarmo888]

There are still many distributions going on:

Reminder, these are current distributions that are going on:

* weekly 100 GBYTE + 100 GBYTE for trading GBYTE
https://blog.obyte.org/obyte-trading-rewards-c7abf1086518

* weekly $3000 for promoting DeFi
https://blog.obyte.org/introducing-referral-program-for-bonded-stablecoins-b5455f189c1c

* weekly 100 GBYTE for providing liquidity in DeFi
https://blog.obyte.org/liquidity-mining-8cce2bf3722e

* daily fees compensation (max 10 GBYTE) for buying DeFi coins with other crypto
https://blog.obyte.org/distribution-to-buyers-of-bonded-stablecoins-4854b4570a03

* daily small reward for donating CPU power to research (now possible to do COVID-19 research with GPUs too)
https://blog.obyte.org/computing-for-good-again-3795336bdaed
https://blog.obyte.org/obyte-and-world-community-grid-join-the-fight-against-sars-cov-2-2917a43ab402
https://www.worldcommunitygrid.org/about_us/viewNewsArticle.do?articleId=693

more info: https://obyte.org/distribution

[tarmo888]

Why does Obyte use such strange term as "bounded" when describing their stablecoins? For me all their stablecoins fall into well established class  of algorithmic stablecoins the price of which is automatically controlled by algorithms. They use the  bivariate function in their algo to control the price but the essence of their stablecoins  doesn’t change - they are just algorithmic ones.  IMO, this  "bounded" in conjunction with stablecoin looks like "window-dressing" .

Algorithmic stablecoins are usually not backed by anything, Bonded stablecoins have reserve asset that backs them and is used to buy them. Mostly that reserve asset is GBYTE, but there can be any any token, even one of the stablecoins like OUSD or OUSDV2.

The name Bonded comes from bonding curve. There aren't many stablecoins with bonding curves and there isn't any with bonding surface (multi-dimensional bonding curve).
https://coinmarketcap.com/alexandria/glossary/bonding-curve

 The big problem I see for your  algorithmic stablecoins (OK,  you may call them bounded, but they are algorithmic, large and by) is that their  price in Gbyte do  not reflect their real value in BTC/$. Probably  to control their prices you need to implement not two-dementional  but three- or even four dimensional function. The two more dimensions would be BTC and $. Market oracles would be helpful.  

No, algorithmic stablecoins are those that just manipulate the total supply or price based on the demand.
Bonded Stablecoins are using bonding curves, thats where the name comes from, which means that the price is indeed algorithmic, but the coins are still backed with something.
Just because it uses math, doesn't mean it's same as what algoritmic stablecoins are known as.
It's same like Uniswap, which is using a bonding curve and is also backed by assets. Or Balancer Labs or Bancor.

I think you don't understand what the bonding curve dimensions do, but if you mean that it needs multiple assets as a reserve/collateral then that just makes everything more complex when there is already ways to keep the price on peg.
And backing a decentralized asset with fiat is only a nonsense that Ethereum people are able to come up with, but that's pretty much the best choice they can do when they have liquidations.

Bonded Stablecoins have no margin calls, no liquidations.

[tarmo888]

if you mean that it needs multiple assets as a reserve/collateral then that just makes everything more complex when there is already ways to keep the price on peg.
And backing a decentralized asset with fiat is only a nonsense that Ethereum people are able to come up with, but that's pretty much the best choice they can do when they have liquidations.

Bonded Stablecoins have no margin calls, no liquidations.

Then they’re just bounded assets rather then stablecoins. Asset which is not sustainable is not entitled to be called stable. Third and reliable party that would secure reserve could mitigate liquidation problem. Why do you think no market has shown any interest to them  so far.  In my view because of mentioned reason - they are just not stable, by and large.

Because people like you spread nonsense. What bounded assets? They are called Bonded stablecoins, like bonding curve. Use actual words.

Version 1 was stable enough, version 2 is even more stable.

Haven't calculated how many percentages of GBYTE supply is put into Bonded Stablecoins now, but it reached 1% already in October, just month after launch. Back then only 0.25% of total supply worth was in liquidity mining, but today that number is well over 1% https://liquidity.obyte.org/

That's not bad result, all of Ethereum DeFi captures only 8-10% of ETH supply https://www.blockchaincenter.net/cockpit/