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Author Topic: Byteball hype over or time to buy?  (Read 4748 times)
coinphilosopher
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February 23, 2017, 03:07:10 AM
 #21

Does this coin have strong enough technological value to keep growing, [...]?

I'm observing Byteball and have read the whitepaper. I'm not sure if the DAG has any advantage over a traditional blockchain besides faster transaction propagation, so that could be a plus.

But on the other hand, the coin is actually very centralized (it can be regarded as a "proof of concept" at most) and not totally trustless, even when the witnesses are to be freely elected it will be more a kind of "web of trust" like Ripple. I regard it as more centralized - and thus more vulnerable to social engineering attacks - than DPOS coins like Bitshares.

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pawnuts
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April 27, 2017, 07:47:04 PM
 #22

Does this coin have strong enough technological value to keep growing, [...]?

I'm observing Byteball and have read the whitepaper. I'm not sure if the DAG has any advantage over a traditional blockchain besides faster transaction propagation, so that could be a plus.

But on the other hand, the coin is actually very centralized (it can be regarded as a "proof of concept" at most) and not totally trustless, even when the witnesses are to be freely elected it will be more a kind of "web of trust" like Ripple. I regard it as more centralized - and thus more vulnerable to social engineering attacks - than DPOS coins like Bitshares.

Did you read the whitepaper?

Note that just because you regard something as centralized does not make it centralized. Being anonymous and being decentralized are two different things, the fact that witnesses in the Byteball network are known entities is an advantage, not a disadvantage. It would be very difficult (read effectively impossible due to the negative return on investment) for someone to acquire enough witnesses using fake identities to create a "shadow chain" that the main chain would not deem invalid.

The system is a democratic one and will require some vigilance on the part of its users to maintain honest witnesses, however if you have people using Byteball for storing or transferring any substantial value then they will ultimately be very interested in the health of the network.

Scaling is the biggest issue for crypto currencies and if any store of value wants to really take a global stage it has to be able to deal with the demands of that. As soon as transactions start slowing down you hamper productivity - people will move to a faster chain. Maybe Bitcoin will retain its value because it was #firstcoin and but it cannot handle the demands of hundreds of thousands of transactions per second, which is what you will need if you have a platform that deals with trading digital assets. This is why, IMO, I don't think Ethereum has a future.

my $0.02
desgrippes
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June 16, 2017, 10:36:44 PM
 #23

Does this coin have strong enough technological value to keep growing, [...]?

I'm observing Byteball and have read the whitepaper. I'm not sure if the DAG has any advantage over a traditional blockchain besides faster transaction propagation, so that could be a plus.

But on the other hand, the coin is actually very centralized (it can be regarded as a "proof of concept" at most) and not totally trustless, even when the witnesses are to be freely elected it will be more a kind of "web of trust" like Ripple. I regard it as more centralized - and thus more vulnerable to social engineering attacks - than DPOS coins like Bitshares.

Did you read the whitepaper?

Note that just because you regard something as centralized does not make it centralized. Being anonymous and being decentralized are two different things, the fact that witnesses in the Byteball network are known entities is an advantage, not a disadvantage. It would be very difficult (read effectively impossible due to the negative return on investment) for someone to acquire enough witnesses using fake identities to create a "shadow chain" that the main chain would not deem invalid.

The system is a democratic one and will require some vigilance on the part of its users to maintain honest witnesses, however if you have people using Byteball for storing or transferring any substantial value then they will ultimately be very interested in the health of the network.

Scaling is the biggest issue for crypto currencies and if any store of value wants to really take a global stage it has to be able to deal with the demands of that. As soon as transactions start slowing down you hamper productivity - people will move to a faster chain. Maybe Bitcoin will retain its value because it was #firstcoin and but it cannot handle the demands of hundreds of thousands of transactions per second, which is what you will need if you have a platform that deals with trading digital assets. This is why, IMO, I don't think Ethereum has a future.

my $0.02


So you would not have confidence in Vitalik's proposals to solve scalabilty with 'sharding' etc? I also think it's a potential pitfall but am not entirely pessimistic about the chance to solve it.

Perhaps there can even be 'mergers' of tech in the future to solve issues and some may be quite complimentary? IOTA has talked of being able to compliment Ethereum (though not neccessarily with the scaling issue).
afbitcoins
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June 19, 2017, 07:37:48 AM
 #24

I get an uneasy feeling when linking all my bitcoin addresses together and sending that info to byteball. Am i just being too paranoid? At least you don't also need to give your facebook ID like Stellar requires.

When is the next round ? is it worth participating ?
bct_ail
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June 19, 2017, 10:49:50 AM
 #25

I get an uneasy feeling when linking all my bitcoin addresses together and sending that info to byteball. Am i just being too paranoid? At least you don't also need to give your facebook ID like Stellar requires.

When is the next round ? is it worth participating ?
Im not familiar with byteball, but why do you have to send ALL your bitcoin addresses to byteball? And do you talk about Stellar Lumens? When yes, where do they ask for your facebook ID?

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afbitcoins
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June 19, 2017, 09:53:29 PM
 #26

I get an uneasy feeling when linking all my bitcoin addresses together and sending that info to byteball. Am i just being too paranoid? At least you don't also need to give your facebook ID like Stellar requires.

When is the next round ? is it worth participating ?
Im not familiar with byteball, but why do you have to send ALL your bitcoin addresses to byteball? And do you talk about Stellar Lumens? When yes, where do they ask for your facebook ID?

Each month there is a giveaway to people who own bitcoin, the more bitcoin you have the more byteball you get. Stellar are doing a similar thing but you also have to provide your facebook ID too.
bct_ail
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June 20, 2017, 06:31:03 AM
 #27

I get an uneasy feeling when linking all my bitcoin addresses together and sending that info to byteball. Am i just being too paranoid? At least you don't also need to give your facebook ID like Stellar requires.

When is the next round ? is it worth participating ?
Im not familiar with byteball, but why do you have to send ALL your bitcoin addresses to byteball? And do you talk about Stellar Lumens? When yes, where do they ask for your facebook ID?

Each month there is a giveaway to people who own bitcoin, the more bitcoin you have the more byteball you get. Stellar are doing a similar thing but you also have to provide your facebook ID too.
Oh, thats sound great (not the facebook ID thing at stellar). The giveaway are byteballs? Do you have to hold byteball as well?

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DeepOnion 
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TOR INTEGRATED & SECURED
★  Your Anonymity Guaranteed
★  Your Assets Secured by TOR
★  Guard Your Privacy!
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Telegram
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nappoleon
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June 20, 2017, 06:42:01 AM
 #28

bytball coin until now nothing exchanger acepted trade
so you can't buy byteball coin, if buy in another person is not good, because byteball coin not ico selling, you can get free only linked bitcoin addres
is good buy byteball coin if ready listing to exchanger
about hype , i think is not, because byteball coin can get free

I cringe while reading! GBYTE is being traded at bittrex and changelly if that is what you're going for. You can trade directly at the app through the bot.

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