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Author Topic: [ANN] Obyte Cash - 🚀 70% airdrop in June! DAG - Instant Transactions - 0 Fees🚀  (Read 1249 times)
tarmo888
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April 15, 2019, 07:11:34 PM
 #61

Also, its not simply about lack of worthy development. Almost everything including the disastrous price performance have been defended by the team and specifically by you. I have seen your posts on this forum and on Discord and I have never seen you accept that anything is wrong with Obyte (all evidence to the contrary). And that, in my opinion, is the biggest issue here and that is what I meant when I said "even true criticism is defended aggressively and not accepted at all".

Ok, so Obyte Cash is somehow going to keep control of the market price as well? Here you go: "I agree that price sucks", but that is out of the control of team because it's people who make the market.
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ObyteCash
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April 15, 2019, 07:24:31 PM
 #62

Interesting project.

Will you exclude Tony’s address?

Also curious about the 10% bonus for those with 500 gbyte (~25k @ current prices). Perhaps you can give us some info about the reasons behind that decision. Will future distributions have a similar bonus as well?

Hi, no we will not exclude Tony's address. He is the reason we are here. Without his contribution there would be no Obyte to fork from!

The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.

That doesn't sound very democratic. A modest bonus to the rich is still just the rich getting richer.

Yes, I agree that this airdrop will make the rich "slightly" richer but think of it as a reward for risking a bigger amount. Consider bank fixed deposits; the rate of interest is higher when you deposit a bigger amount and for a longer time. Its the same to an extent even for Bitcoin investors. You could buy at under the market rate on OTC if you buy a huge amount, but if you buy a smaller amount its at market rate. Same thing happened with the recent Bittrex IEO where OTC traders with a minimum buy of $100,000 got a 50% discount. The extra % that bigger investors make is because they also have a much bigger risk, not because anyone favors them.

We believe the 10% bonus on balance above the 500 GByte threshold is very modest and the bigger investors (and risk takers) deserve this. Also, for now, this is a one time bonus for the launch and not planned for future distributions.


The biggest mistake is to give a bonus of 10% to large byteball holders. This is unfair to small holders. Many large holders got their byteballs for holding a lot of bitcoins.
I can only agree with that.
There are more reasonable possibilities of distribution.

But first and foremost there is the creation of a use.
Cryptos are suitable for a certain market and should concentrate exactly on that.
Wanting to compete with the Fiat world now is a mistake.

Hi, appreciate your feedback. Please have a look above at the explanation about the 10% bonus and let me know if you think that's reasonable Smiley
From my point of view only users of the currency should be involved in further distributions. Speculators do little to make the project better known, but merchants and their customers do on a non-censored, decentralized marketplace.

Future distributions will have more methods and not only the airdrop. We are open to suggestions and ideas from the community regarding the same.
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April 15, 2019, 07:49:26 PM
 #63

Also, its not simply about lack of worthy development. Almost everything including the disastrous price performance have been defended by the team and specifically by you. I have seen your posts on this forum and on Discord and I have never seen you accept that anything is wrong with Obyte (all evidence to the contrary). And that, in my opinion, is the biggest issue here and that is what I meant when I said "even true criticism is defended aggressively and not accepted at all".

Ok, so Obyte Cash is somehow going to keep control of the market price as well? Here you go: "I agree that price sucks", but that is out of the control of team because it's people who make the market.

Yes, we will control the price by delivering on promises in a timely manner and having meaningful development. Our performance will convert into price! The same way that Obyte team's performance has converted into the the slump in GByte prices.

Also, you are completely wrong when you say "that is out of the control of team because it's people who make the market." The biggest effects on price is by the decisions and performance of the team. Think about this; if Tony decides tomorrow that he wants to leave the project for XYZ reason, will it not affect the price? Or if the team manages to get a partnership with Facebook, will it not affect the price? You are naive to think that price is anything other than a reflection of the team's performance.
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April 15, 2019, 08:10:28 PM
 #64

Also, its not simply about lack of worthy development. Almost everything including the disastrous price performance have been defended by the team and specifically by you. I have seen your posts on this forum and on Discord and I have never seen you accept that anything is wrong with Obyte (all evidence to the contrary). And that, in my opinion, is the biggest issue here and that is what I meant when I said "even true criticism is defended aggressively and not accepted at all".

Ok, so Obyte Cash is somehow going to keep control of the market price as well? Here you go: "I agree that price sucks", but that is out of the control of team because it's people who make the market.

Yes, we will control the price by delivering on promises in a timely manner and having meaningful development. Our performance will convert into price! The same way that Obyte team's performance has converted into the the slump in GByte prices.

Also, you are completely wrong when you say "that is out of the control of team because it's people who make the market." The biggest effects on price is by the decisions and performance of the team. Think about this; if Tony decides tomorrow that he wants to leave the project for XYZ reason, will it not affect the price? Or if the team manages to get a partnership with Facebook, will it not affect the price? You are naive to think that price is anything other than a reflection of the team's performance.

Quite extreme examples, but ok, clear, I will be eagerly waiting to see what Obyte Cash team will deliver and how its performance converts into price or how it survives when rest of the market also burns.
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April 15, 2019, 08:49:21 PM
 #65

Also, its not simply about lack of worthy development. Almost everything including the disastrous price performance have been defended by the team and specifically by you. I have seen your posts on this forum and on Discord and I have never seen you accept that anything is wrong with Obyte (all evidence to the contrary). And that, in my opinion, is the biggest issue here and that is what I meant when I said "even true criticism is defended aggressively and not accepted at all".

Ok, so Obyte Cash is somehow going to keep control of the market price as well? Here you go: "I agree that price sucks", but that is out of the control of team because it's people who make the market.

Yes, we will control the price by delivering on promises in a timely manner and having meaningful development. Our performance will convert into price! The same way that Obyte team's performance has converted into the the slump in GByte prices.

Also, you are completely wrong when you say "that is out of the control of team because it's people who make the market." The biggest effects on price is by the decisions and performance of the team. Think about this; if Tony decides tomorrow that he wants to leave the project for XYZ reason, will it not affect the price? Or if the team manages to get a partnership with Facebook, will it not affect the price? You are naive to think that price is anything other than a reflection of the team's performance.

Quite extreme examples, but ok, clear, I will be eagerly waiting to see what Obyte Cash team will deliver and how its performance converts into price or how it survives when rest of the market also burns.
As soon as you can use this currency on your own decentralized, uncensable marketplace (goods and services) for what it is, and as soon as you can finally exchange Bytes/Blackbytes directly into Fiat, this will immediately be reflected in the price.

The gimmicks of 0byte and the countless other coins are the third step before the first.
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April 15, 2019, 09:09:19 PM
 #66

Interesting project.

Will you exclude Tony’s address?

Also curious about the 10% bonus for those with 500 gbyte (~25k @ current prices). Perhaps you can give us some info about the reasons behind that decision. Will future distributions have a similar bonus as well?

Hi, no we will not exclude Tony's address. He is the reason we are here. Without his contribution there would be no Obyte to fork from!

The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.

Alright I can respect that. Thanks for elaborating.
Julien_Olynpic
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April 16, 2019, 03:09:44 AM
 #67

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The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.
No, large holders do not take more risk. They take the same risk. It does not depend on the absolute amount, on the percentage of their capital that they invest in the project. If an investor invests 1% of his capital in a project and this 1% means 1000 GB for him, then he carries even a very small risk. Therefore, the bonus is, of course, unfair. And this project shows its disregard for the community. Focusing on fat cats and neglect of small holders is a very bad idea. As for me, you need to generally make a negative bonus for large owners. Or none at all.

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Thul
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April 16, 2019, 07:56:35 AM
 #68

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The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.
No, large holders do not take more risk. They take the same risk. It does not depend on the absolute amount, on the percentage of their capital that they invest in the project. If an investor invests 1% of his capital in a project and this 1% means 1000 GB for him, then he carries even a very small risk. Therefore, the bonus is, of course, unfair. And this project shows its disregard for the community. Focusing on fat cats and neglect of small holders is a very bad idea. As for me, you need to generally make a negative bonus for large owners. Or none at all.
I agree with that.
Probably it is the initiators of this project themselves who enjoy this additional bonus.

If they should be able to realize the urgently necessary, I wouldn't care personally, and if not, this project has no future anyway.
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April 16, 2019, 04:40:54 PM
 #69

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The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.
No, large holders do not take more risk. They take the same risk. It does not depend on the absolute amount, on the percentage of their capital that they invest in the project. If an investor invests 1% of his capital in a project and this 1% means 1000 GB for him, then he carries even a very small risk. Therefore, the bonus is, of course, unfair. And this project shows its disregard for the community. Focusing on fat cats and neglect of small holders is a very bad idea. As for me, you need to generally make a negative bonus for large owners. Or none at all.
I agree with that.
Probably it is the initiators of this project themselves who enjoy this additional bonus.

If they should be able to realize the urgently necessary, I wouldn't care personally, and if not, this project has no future anyway.


Yes I understand that its the percentage that matters. Suppose 2 people have $100 in their bank accounts and the first one puts in $10 into Obyte and the 2nd one puts in $80, doesn't the 2nd one have a larger stake in the success of Obyte? You are assuming that the person with more amount of GByte is richer in general that the person with less GByte which is not correct. I am assuming that both of them have the same amount of money in their bank accounts. To gauge risk, you have to check the percentage of holdings from the total supply. If someone holds 20% of the total supply (or total number of shares in a traditional company) he has a much bigger risk than someone who holds 0.2% of the supply.

The bonus, as described above, is also supported by similar practices in almost all other fields. Also, its a one time bonus.
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April 16, 2019, 07:12:49 PM
 #70

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The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.
No, large holders do not take more risk. They take the same risk. It does not depend on the absolute amount, on the percentage of their capital that they invest in the project. If an investor invests 1% of his capital in a project and this 1% means 1000 GB for him, then he carries even a very small risk. Therefore, the bonus is, of course, unfair. And this project shows its disregard for the community. Focusing on fat cats and neglect of small holders is a very bad idea. As for me, you need to generally make a negative bonus for large owners. Or none at all.
I agree with that.
Probably it is the initiators of this project themselves who enjoy this additional bonus.

If they should be able to realize the urgently necessary, I wouldn't care personally, and if not, this project has no future anyway.


Yes I understand that its the percentage that matters. Suppose 2 people have $100 in their bank accounts and the first one puts in $10 into Obyte and the 2nd one puts in $80, doesn't the 2nd one have a larger stake in the success of Obyte? You are assuming that the person with more amount of GByte is richer in general that the person with less GByte which is not correct. I am assuming that both of them have the same amount of money in their bank accounts. To gauge risk, you have to check the percentage of holdings from the total supply. If someone holds 20% of the total supply (or total number of shares in a traditional company) he has a much bigger risk than someone who holds 0.2% of the supply.

The bonus, as described above, is also supported by similar practices in almost all other fields. Also, its a one time bonus.
As already mentioned, I can share the concerns of others, but they are not so important to me personally.

It is much more important that there is a crypto currency that one can use.
I am very curious whether my expectations will be fulfilled.
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April 17, 2019, 02:59:53 AM
 #71

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The 10% bonus means that every GByte you hold over 500 GByte is entitled to 11 OBC. So for example if someone holds 550 GByte, the bonus applies only to the 50 GByte (Balance above 500 GByte). Hence in this example, this user will receive 500×10 OBC + 50×11 OBC = 5,550 OBC.

The reasoning behind this is that we think it's only fair that someone who holds more than $25,000 in any crypto project is taking a pretty big risk and hence should have an equivalent reward. Another reason is that such holders are probably more invested and interested in the success of the project since they have a larger stake. At the same time we also made sure that whales are only given a modest bonus and hence the above mentioned calculation.

Future distributions, at the moment, are not planned to give out any bonuses but we prefer taking community opinion and feedback before taking any such decisions so it might change.
No, large holders do not take more risk. They take the same risk. It does not depend on the absolute amount, on the percentage of their capital that they invest in the project. If an investor invests 1% of his capital in a project and this 1% means 1000 GB for him, then he carries even a very small risk. Therefore, the bonus is, of course, unfair. And this project shows its disregard for the community. Focusing on fat cats and neglect of small holders is a very bad idea. As for me, you need to generally make a negative bonus for large owners. Or none at all.
I agree with that.
Probably it is the initiators of this project themselves who enjoy this additional bonus.

If they should be able to realize the urgently necessary, I wouldn't care personally, and if not, this project has no future anyway.


Yes I understand that its the percentage that matters. Suppose 2 people have $100 in their bank accounts and the first one puts in $10 into Obyte and the 2nd one puts in $80, doesn't the 2nd one have a larger stake in the success of Obyte? You are assuming that the person with more amount of GByte is richer in general that the person with less GByte which is not correct. I am assuming that both of them have the same amount of money in their bank accounts. To gauge risk, you have to check the percentage of holdings from the total supply. If someone holds 20% of the total supply (or total number of shares in a traditional company) he has a much bigger risk than someone who holds 0.2% of the supply.

The bonus, as described above, is also supported by similar practices in almost all other fields. Also, its a one time bonus.
Here you can give another example. When the person who has more coins merges his reserves on the exchange, he makes a more negative contribution. Therefore, of course, all these bonuses are unfair. And their wide distribution only shows the scale of the disease.

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ObyteCash
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April 17, 2019, 11:01:29 AM
 #72


Here you can give another example. When the person who has more coins merges his reserves on the exchange, he makes a more negative contribution. Therefore, of course, all these bonuses are unfair.

Didn't get you.
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April 18, 2019, 05:59:53 PM
 #73

very good fork,,,,i make account for this post....old investor very bad byteball team my coin go -90%....all the best for fork
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April 18, 2019, 08:44:06 PM
 #74

very good fork,,,,i make account for this post....old investor very bad byteball team my coin go -90%....all the best for fork

Thanks, we will not disappoint you!
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April 19, 2019, 01:54:07 PM
 #75

what about witnesses issue?
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April 19, 2019, 02:28:25 PM
 #76

Russian Translation Reserved
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April 19, 2019, 04:10:53 PM
 #77

what about witnesses issue?

Hi, as of now we have 3 well known people from the community (including 1 exchange owner) that will be the witnesses. We will have more people as time goes on. This is a difficult and time taking process and unfortunately there is no simple solution. The names will be revealed later.
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April 19, 2019, 06:05:03 PM
 #78

what about witnesses issue?

Hi, as of now we have 3 well known people from the community (including 1 exchange owner) that will be the witnesses. We will have more people as time goes on. This is a difficult and time taking process and unfortunately there is no simple solution. The names will be revealed later.

thats excellent newsss!!!!!! put it in the op  Grin Grin Grin
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