is it kind of like a digital escrow?
Yes, but it can do more than that too. 
Topic: I just did a smart contract in Byteball : mind blow. - page 3. (Read 5568 times)
is it kind of like a digital escrow?
IOTA seems to rather address IoT companies and equipment and device manufacturers while Byteball rather addresses the ordinary user.
Well, as I explained in other places here, IoT and Proof-of-Work (which Iota employs for some awkward reason) is an oxymoron, you cant expect an IoT device which is low on energy, low on CPU, low on memory and any other computing resources, to expend Work, to do transactions? Iota devs then said, but IoT devices will incorporate an extra chip of their design, extra hardware under development called Jinn, to do the PoW. But later also claimed IoT will not actually do PoW but only "sign" transactions for other nodes to validate. Its all very fancy talk, but so far only talk.Byteball is better suited for IoT and actually works right now, and does not require PoW, or other random (actually based on random monte carlo run) consensus layer. All transactions are done by signing. Its all based on hashes, secp256k1, simple, elegant design.
Lol, I didn't even know you were having a textual chat conversation with an automated A.I. chatbot. I thought you were in a discussion with another user about how to escrow.
Does Byteball really have a text-based A.I. chatbot integrated into its client?
Does Byteball really have a text-based A.I. chatbot integrated into its client?
Yes that's the thing. There was an A.I. chatbot integrated into the client from the start for the distribution process and the smart contract was added recently.
Just to clarify, the chat from the opening post is indeed between two human beings. The available bots are not integrated into the client per se, they are available for anyone to pair with. Pairing enables chatting.
IOTA seems to rather address IoT companies and equipment and device manufacturers while Byteball rather addresses the ordinary user. From the beginning, the user friendliness of the Byteball client was great, which supports this assumption.
Nevertheless, both are great projects and investments in my view.
What about Iota, the other (and first) DAG coin ? Lot of press at the moment
Nevertheless, both are great projects and investments in my view.
@thejaytiesto, note I edited my post since you quoted it, to remove what might be construed as "investment advice".
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want to fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want to fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
What about Iota, the other (and first) DAG coin ? Lot of press at the moment
But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
Do you think the transaction fees should be scaled? Instead of bytes per byte of data stored/used-by-database, it would be bytes per byte up to a limit of say 1000, then 2 bytes fee for each byte stored, then if the transaction or data to store is above 10 000 bytes, you would require to pay 3 bytes for each above that level? What is that kind of scale called?That would discourage to use the Byteball network and database as a personal storage if the price of each byte is very low.
I am considering investing on this altcoin but im still not sure since iamnotback addressed some valid concerns on the project and I want to invest in something long term not in something that has flaws and will have to deal with big problems in the future. I wish someone did a coin strong enough that it will not meet dead ends eventually but the question... this coin may not even exist. All coins may be cornered into hard forks and controversial situations in a long enough timeline.
The issues raised by iamnotback are valid and curious, especially the ability to replace witnesses, despite the system as design allowing it, the question remans if people are social enough to coordinate with each other to actually do it, its easy to replace 1 witness, but if several are required to replace then it gets more difficult to organize people.My bet is, yes, people will find ways to organize and remove bad witnesses, and that most witnesses wont collude for evil things, as they stand to gain from colluding but doing good things. If however they really do suck, the users will just leave and form a new network which is natural.
Okay thanks for reiterating. My point was this wasn't clear from the Subject and the OP is not visible when viewing the list of threads. So the subject tends to give the a hype oriented impression that the smart contract language is somehow mind blowingly superior to everything that came before it.
For me, good user interfaces are not mind blowing. They are essential. Just because our development community isn't well attuned to the needs of users, doesn't mean to me that it is mind blowing when a developer does what he is supposed to do. But I guess from your perspective it is mind blowing compared to for example the alleged diurnal Easter egg hunt for a Monero official GUI (hey Monero supporters I'm oblivious about Monero's clients, as I've never used any of it so I am just regurgitating what I read on this forum).
For me, good user interfaces are not mind blowing. They are essential. Just because our development community isn't well attuned to the needs of users, doesn't mean to me that it is mind blowing when a developer does what he is supposed to do. But I guess from your perspective it is mind blowing compared to for example the alleged diurnal Easter egg hunt for a Monero official GUI (hey Monero supporters I'm oblivious about Monero's clients, as I've never used any of it so I am just regurgitating what I read on this forum).
No problem. It is so common for tech guys in general, especially devs to ignore the basic needs of the average Joe. Monero is a great example even though I understand that devs are working voluntarily on a new tech and they cannot afford to be distracted.
Lol, I didn't even know you were having a textual chat conversation with an automated A.I. chatbot. I thought you were in a discussion with another user about how to escrow.
Does Byteball really have a text-based A.I. chatbot integrated into its client?
Btw, I really appreciate you linking to that YouTube, because it reaffirms one of the major strategies of my project. Let me state what that is by explaining what I disagree with in that video, even though I agree with the premise that users don't want the hassles of apps and that the app barrier to having an entirely open source mobile OS not controlled by any vendor (which is where I think we are headed).
The emergence of chatbots and voice assistants isn't an orthogonal choice to superapps, i.e. these can be a feature of a superapp structure. And superapps and chatbots aren't orthogonal to having millions of independent developers. Instead the superapp is the conceptual structure by which we make integration more efficient for users of all these, i.e. remove as many unnecessary pain points as possible whilst still giving users flexibility to plugin new features and activities. And enable to them to run every where with the same code.
Does Byteball really have a text-based A.I. chatbot integrated into its client?
Btw, I really appreciate you linking to that YouTube, because it reaffirms one of the major strategies of my project. Let me state what that is by explaining what I disagree with in that video, even though I agree with the premise that users don't want the hassles of apps and that the app barrier to having an entirely open source mobile OS not controlled by any vendor (which is where I think we are headed).
The emergence of chatbots and voice assistants isn't an orthogonal choice to superapps, i.e. these can be a feature of a superapp structure. And superapps and chatbots aren't orthogonal to having millions of independent developers. Instead the superapp is the conceptual structure by which we make integration more efficient for users of all these, i.e. remove as many unnecessary pain points as possible whilst still giving users flexibility to plugin new features and activities. And enable to them to run every where with the same code.
Yes that's the thing. There was an A.I. chatbot integrated into the client from the start for the distribution process and the smart contract was added recently.
Most people missed how smart it was in term of UI and flexibility.
Why do you think I am creating a new programming language that transpiles to JavaScript (i.e. it will run on any device with a browser control). I have very ambitious plans. A long-range objective of my project is to supercede (abstract away and replace) Android and iOS eventually (many years down the line).
That's the future IMO.
Re: I just did a smart contract in Byteball : mind blow.
The hype in the Subject title of this thread also seems to be ignoring the reality that some of these things were possible with Bitcoin's scripts, others with CounterParty (not that I think CP is secure), Ethereum, etc...First sentence :
Smart contract isn't something new, far from it.
Byteball fortuitously happened to have a script & protocol you wanted available in the wallet by default.
That is what is mind blowing, the user experience, not the technology.
I insisted enough on this.
Okay thanks for reiterating. My point was this wasn't clear from the Subject and the OP is not visible when viewing the list of threads. So the subject tends to give the a hype oriented impression that the smart contract language is somehow mind blowingly superior to everything that came before it.
For me, good user interfaces are not mind blowing. They are essential. Just because our development community isn't well attuned to the needs of users, doesn't mean to me that it is mind blowing when a developer does what he is supposed to do. But I guess from your perspective it is mind blowing compared to for example the alleged diurnal Easter egg hunt for a Monero official GUI (hey Monero supporters I'm oblivious about Monero's clients, as I've never used any of it so I am just regurgitating what I read on this forum).
That's how smart contracts should works : for a real use without being aware you're doing a smart contract.
I immediately noticed the use of a chatbot in byteball and I think that is visionary. I will let this video explain my view point on the matter :
Why Apps Won't Matter in the Future
(especially the part about chatbot)
Financial apps should be in the form of chatbot. It's already massively the case in China. Only the Occidental market ignore it but it's already here and huge.
Lol, I didn't even know you were having a textual chat conversation with an automated A.I. chatbot. I thought you were in a discussion with another user about how to escrow.
Does Byteball really have a text-based A.I. chatbot integrated into its client?
Btw, I really appreciate you linking to that YouTube, because it reaffirms one of the major strategies of my project. Let me state what that is by explaining what I disagree with in that video, even though I agree with the premise that users don't want the hassles of apps and that the app barrier to having an entirely open source mobile OS not controlled by any vendor (which is where I think we are headed).
The emergence of chatbots and voice assistants isn't an orthogonal choice to superapps, i.e. these can be a feature of a superapp structure. And superapps and chatbots aren't orthogonal to having millions of independent developers. Instead the superapp is the conceptual structure by which we make integration more efficient for users of all these, i.e. remove as many unnecessary pain points as possible whilst still giving users flexibility to plugin new features and activities. And enable to them to run every where with the same code.
Why do you think I am creating a new programming language that transpiles to JavaScript (i.e. it will run on any device with a browser control). I have very ambitious plans. A long-range objective of my project is to supercede (abstract away and replace) Android and iOS eventually (many years down the line).
@thejaytiesto, note I edited my post since you quoted it, to remove what might be construed as "investment advice".
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
As a bitcoin holder, how are you going to deal with the following days regarding the ETF? Looks like the price may tank. Im considering selling some in Poloniex using the USDT, wait a couple of days and rebuy back, i've seen a lot of people wanting to do this, this leads me to believe we may see a serious dip and I don't want to be the idiot watching the price tank, at least if I can profit from it I will feel better, since im sure it will recover im not worried long term but I need to make more BTC and this seems like a good opportunity. I doubt price will go any higher than $1200 before dump party begins.
Of course there is the possibility of ETF passing and the market going nuts about it and we may see $1300+... but odds are against that.
If I had a verified account on Poloniex so I could trade to fiat, I would probably consider selling 20% as a hedge at some price north of $1250. I would not buy into altcoins because when Bitcoin's price declines, more money moves from altcoins into Bitcoins to take advantage of the dip opportunity. So altcoins decline more on a percentage basis than Bitcoin. The time to buy altcoins is as Bitcoin starts to rise significantly, then altcoins go bonkers, but sell the altcoins before Bitcoin peaks. Note sentiment about the ETF event is perfectly balanced.
Yeah, it wouldn't probably be safe to buy alts when BTC tanks cause BTC tends to drag most alts down too, that is why notice I mentioned USDT (Tether) which always has a 1:1 ratio with the USD dollar. Somehow it works, I have been following USDT price, and it is exactly like the dollar.
I don't have a verified account in Poloniex neither, so USDT seems like a good way to get the job done quick and anonymously. Of course, the risk is in the time exposed to the exchange (and USDT itself) for a couple of days until you wait for a good price to buy back in.
But yeah ETF could actually pass... even tho, I don't really see big reasons for TPTB to pass the ETF. Bitcoin is ultimately a banking disruptor and it sort of legitimizes it, it's like they are inviting an enemy as guest in their house. I don't know if im being clear with this. I mean I see bitcoin as something sort of anarchic and "outside of the system", so I dont see exactly how SEC would pass the ETF. Unless even if they hate bitcoin, they think they can control it better by having an ETF or something.
Anyway I should have sold hours ago, now im not sure if it will pump a bit again before the final decision or what.
@thejaytiesto, note I edited my post since you quoted it, to remove what might be construed as "investment advice".
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
As a bitcoin holder, how are you going to deal with the following days regarding the ETF? Looks like the price may tank. Im considering selling some in Poloniex using the USDT, wait a couple of days and rebuy back, i've seen a lot of people wanting to do this, this leads me to believe we may see a serious dip and I don't want to be the idiot watching the price tank, at least if I can profit from it I will feel better, since im sure it will recover im not worried long term but I need to make more BTC and this seems like a good opportunity. I doubt price will go any higher than $1200 before dump party begins.
Of course there is the possibility of ETF passing and the market going nuts about it and we may see $1300+... but odds are against that.
If I had a verified account on Poloniex so I could trade to fiat, I would probably consider selling 20% as a hedge at some price north of $1250. I would not buy into altcoins because when Bitcoin's price declines, more money moves from altcoins into Bitcoins to take advantage of the dip opportunity. So altcoins decline more on a percentage basis than Bitcoin. The time to buy altcoins is as Bitcoin starts to rise significantly, then altcoins go bonkers, but sell the altcoins before Bitcoin peaks. Note sentiment about the ETF event is perfectly balanced.
Smart contract isn't something new, far from it. So many people has been learning solidity scripting language in the past years but the only time I was given the opportunity of using a smart contract, I didn't and saved myself from one of the biggest fiasco ever in crypto : the DAO.
Right now I just did a smart contract unexpectedly for a real use case and it went like :
That's it. I literally had no idea I was doing a smart contract if I wasn't told it's a smart contract.
I needed to trade with a total stranger on the Internet, the escrow wasn't available so we just did a smart contract through the chat box.
That's how smart contracts should works : for a real use without being aware you're doing a smart contract.
I'm new to this smart contract thing and I'm still in the learning process to fully understand it. It is quite satisfying that we have this kind of thing now and we can easily do it (according to the screenshot provided). I know that this has been available for us for quite some time now but I didn't put too much effort to take a loot at it back then.
@thejaytiesto, note I edited my post since you quoted it, to remove what might be construed as "investment advice".
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
I tend to agree with you, I'd prefer to invest in something I think has a significant long-term future. For me, I can't invest in (hold) anything other than Bitcoin right now (because it is just my cash flow account), because otherwise I only want to invest in what I am working on. Because I compare the feature sets and I have confidence.
However, for speculators and traders, they aren't thinking that way. They want the fastest way to get a ROI, rinse and repeat.
I can't access how well Byteball will do over the long-term. Clearly the lead developer (Tony aka Anthony) is hard working, conscientious, capable, and smart. But the way he structured the transaction fees really made me think he isn't thinking holistically enough about design and long-term. But I am not omniscient and I can't keep up with every design change that every project does. So it would be crazy for me to tell people not to be intrigued by Byteball. I am. So much so, that I dedicated the last chapter (major section) of my whitepaper to Byteball's DAG stability point consensus algorithm.
As a bitcoin holder, how are you going to deal with the following days regarding the ETF? Looks like the price may tank. Im considering selling some in Poloniex using the USDT, wait a couple of days and rebuy back, i've seen a lot of people wanting to do this, this leads me to believe we may see a serious dip and I don't want to be the idiot watching the price tank, at least if I can profit from it I will feel better, since im sure it will recover im not worried long term but I need to make more BTC and this seems like a good opportunity. I doubt price will go any higher than $1200 before dump party begins.
Of course there is the possibility of ETF passing and the market going nuts about it and we may see $1300+... but odds are against that.
Re: I just did a smart contract in Byteball : mind blow.
The hype in the Subject title of this thread also seems to be ignoring the reality that some of these things were possible with Bitcoin's scripts, others with CounterParty (not that I think CP is secure), Ethereum, etc...First sentence :
Smart contract isn't something new, far from it.
Byteball fortuitously happened to have a script & protocol you wanted available in the wallet by default.
That is what is mind blowing, the user experience, not the technology.
I insisted enough on this.
That's how smart contracts should works : for a real use without being aware you're doing a smart contract.
I immediately noticed the use of a chatbot in byteball and I think that is visionary. I will let this video explain my view point on the matter :
Why Apps Won't Matter in the Future
(especially the part about chatbot)
Financial apps should be in the form of chatbot. It's already massively the case in China. Only the Occidental market ignore it but it's already here and huge.
A noob friendly and easy to execute smart contract...
I repeat:
You may be interested in my comment about Byteball's smart contract language.
Do you really expect users to give a damn and look at the source code of the smart contract?
It usually helps to read before you spout off incorrect appraisals of what is.
If you aren't interested in accuracy of technical statements, then the altcoin speculation IQ becomes as follows:
Re: I just did a smart contract in Byteball : mind blow.
The hype in the Subject title of this thread also seems to be ignoring the reality that some of these things were possible with Bitcoin's scripts, others with CounterParty (not that I think CP is secure), Ethereum, etc...
@superresistant, seems what you are calling a "smart contract" could possibly be done with Bitcoin's scripting?
I understand you were saying that it was just there in the wallet by default and maybe your point is that to the extent this capability is possible in other systems, it hadn't been there for you by default when you needed it. But is that just aliasing (sampling) error rather than a fundamental advantage between comparable systems? Byteball fortuitously happened to have a script & protocol you wanted available in the wallet by default.
A noob friendly and easy to execute smart contract sounds great, I expect byteball will soon become the next big thing in crypto.
eth is a scam but then ton of people already millionaire out of it
2000 lbs is roughly 12 (a dozen) people.
It's funny cause Ethereum is here since more than a year and i never be able to install the wallet
Yesterday i did my first transaction by smart contract, not with ETH but Byteball and i'm still shocked by the tech i don't know what to say. I think Superresistant summarized well
The best is that you try it by yourself
Yesterday i did my first transaction by smart contract, not with ETH but Byteball and i'm still shocked by the tech i don't know what to say. I think Superresistant summarized well
The best is that you try it by yourself
eth is a scam but then ton of people already millionaire out of it
bitbay is the superior choice.
I am considering investing on this altcoin but im still not sure since iamnotback addressed some valid concerns on the project and I want to invest in something long term not in something that has flaws and will have to deal with big problems in the future. I wish someone did a coin strong enough that it will not meet dead ends eventually but the question... this coin may not even exist. All coins may be cornered into hard forks and controversial situations in a long enough timeline.
You also know that I told you (and others in private) that Byteball might be one of the most intriguing of tiny marketcaps to speculate on. If they had given away Bytes to every Bitcoin HODLer, I expected a selloff. But instead apparently what they did is only distributed to a very few who bothered to show up on time, so the coins have been concentrated amongst for example ICONOMI got roughly 9% of all Byteball issued. So perhaps the selloff won't be forthcoming. I dunno because I haven't been following it in detailed study since.
Nothing is perfect. And they could potentially improve over time.
But the flaws I outlined are somewhat onerous, especially their transaction fee design appeared entirely unscalable to me unless they've since changed it or clarified something I didn't know.
@superresistant, seems what you are calling a "smart contract" could possibly be done with Bitcoin's scripting?
Byteball distro in round 1 was heavily beneficial for btc holders, but for all later rounds not so much. From round 2 onwards much better to use btc to buy byteball and get 10% compounding for all later rounds than link and get measly 62MB byteball. More than 12 more full moons to go, so distro creates BB demand, which creates higher return each round, which creates more BB demand etc As long as dev keeps to schedule BB can only go up.
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