Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 1105. (Read 1234271 times)

You don't get it.
BYTEBALL is not about reducing the gap between the rich and the poor.
Those tokens are virtual, this is not money.
This is not about helping people.
Fairness should not even been discussed.

You cannot expect and guarantee that those tokens will have any value at all. So using all your time and energy into imagining a fair distribution utopia will always result in a huge failure.

BYTEBALL is only an experiment between grown up responsible adult passionate about tech. No one is forced to participate. No money is even asked.
We have no guarantee that it will work, no guarantee that it will be used, no guarantee that it will be worth anything.

For all those reasons, a token distribution that doesn't ask for any money, that is clear and simple to understand is a great distribution.

People that promise fairness in this world are all scammers.

I have to find the time to do the dutch translation, but yeah dutchies read English quite well.
Also I was thinking: @ Tonych, maybe you should keep let's say 5% to 10% of the total amount, it will give you a big incentive to keep working on the project, fund development, attract new devs etc.
Imo, it is good that founders/ developers have a big stake in their company.

Good idea.  Added.

Translations of the Byteball [ANN]:
 
German: https://bitcointalksearch.org/topic/ann-byteball-komplett-neuer-konsens-algorithmus-und-private-zahlungen-1618037
Russian: https://bitcointalksearch.org/topic/obytebyteball-o-oecc-a-dag-ae-ae-1620276
Portuguese: https://bitcointalksearch.org/topic/byteball-algoritmo-de-consenso-totalmente-novo-pagamento-privado-irrastreavel-1621206


@tonych: you may add this to the footer of the OP.

Go home to your mummy. You're not ready for the real world.

wtf ! your problems !? how many coins ipo that flying fish are investing without warranty of value..i must enumérate them..wave..rise..dao..and other fucking hyip than stupid coiner thinks become rich with these scam, they are same named it "surf on hyip"   damn !! madof is in jail for all life for that..i can understand bagholder alts..but dont come spit on some thing free and potentially profitable..maybe you can be poor and refugee in alts but doesn't be stupid pls !

Your criticism is that this leaves out a lot of other cryptos leading to less distribution.
You also base this on leaving the project open to "unfairness".

However, this holds no water: like it or not, at this moment, BTC is still the de facto coin of choice for payments and exchanges, and it's easy for anyone to move there from any platform.

Arbitrarily choosing (which it would be, however you want to slice it) several other platforms to be included by default most definitely would lead to cries of unfairness, if not a barrage of "Add coin X" messages in the issuers Inbox . He'd furthermore would have to deal with oodles of fanboys of any of the platforms that were left out of the default scenario. As we all know, that amount of FUD would also damage the project from the get go.

BTC is available to all who wish to participate and can be considered "neutral" on the Fairometer(TM). It may not be perfect, but at least it's widely available and open to anyone to acquire.

On a side-note, I've always found the obsession with fairness in crypto rather weird. Surely it's security that should be paramount? What is fair about people acquiring a coin (even if the distribution is "fair") and then to be conned into dumping them via a coordinated FUD machine? It happens a lot, you know, even to projects that tried their utmost to do the distribution right.

Fairness is extremely subjective in any case, and frequently can be paraphrased with  "I didn't take the chance where I had it and now I want to bully you into changing the rules in my favour!"

some friends who haven't believed crypto

No, don't go! We need our troll!

Like all good scams its got a dedicated cheerleader. Plus its got a developer who couldn't possibly move the dates a month or two.ie bullshit cause he knows too many people will apply. I will laugh if people who link their bitcoin accounts some how get hacked. THATS WOULD BE BEAUTIFUL. Personally I'm out byeeeeeeee.

There will be a terrible dumping on the first day of trading GUARANTEED.....then who knows.

Your laughter is unfounded and means little to the facts that I have presented. Why focus on the FAIRLY MINED part of doge and LTC are you saying BTC was more FAIRLY mined than those?

This simply is not a fair way to initially distribute new tokens. It is simply a case of giving the already rich more than everyone else.

There has to be a fairer solution.

If the byteball team go ahead as planned they will find their coin will come under a lot of criticism once people see it for what it really is. I am simply trying to help them see this. I have enough BTC that I will benefit fine from their current plan but it is simply not fair and will be critically reviewed by real ALT fans that keep the majority of their crypto wealth in ALTS.

I suspect many ALT coin fans will not approve of BTC whale further enrichment. There is a reason clams chose the 3 largest POW coins because many many more people were given clams than if just BTC owners got some. I would estimate 70% of this board don't even have 5 BTC whilst other here (small small minority ) have 1000's if not 10's of thosands of BTC.

If you conduct a poll on the main ALT board I am certain you will find many will share this view.

This is an ALT coin. How about giving those in the ALT coin community a fair(er) chance to get involved.

The top 5-10 wallets of each coin can be ignored since they are exchanges and super whales that need no further enrichment. Else exchanges are required to distribute to the coin holders.

Well, Bitcoin addresses are pseudonymous. And: Some participants will register only some of their bitcoins, for example if they are too lazy or too frightened to kill offline wallets.

yeah, the only issue i have with the distribution method is actually privacy. if you dont care about your privacy the dev will afterwards have the exact BTC-numbes of every participant.

Are there any dutch mates here? IMO most of the dutch don't have problems reading english (or maybe german), so is a translation to dutch really needed?

Surely they will. And other things will go wrong too. But, byteball token is not the main value of this project. I don't care about distribution too much as long as bytes stay cheap as dirt in the future, such that transactions are very cheap. Custom private tokens is what will bring users to this project.

 

Your concerns about exchanges becoming whales are valid but if a lot of people will participate in the distribution, the importance of such whales will be diluted.
So we must keep on informing about Byteball and it's initial distribution to avoid such problems!

Why your friends borrow you if they can direct invest in the byteball?

Definitely following byteball. And I like the distribution Idea very much actually, will be an interesting experiment.
Only thing that could go wrong is that if to few people join that some bad exchanges (like Yobit) use customer funds and become whales doing so.

ok, I am borrowing 1M dollars from my friends to get byteballs,LOL.  How stupid the contribution is.