Obyte: Totally new consensus algorithm + private untraceable payments - page 1106.

superresistant

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Quote from: cryptohunter on September 19, 2016, 04:27:37 AM

Then those that got in with the early bird advantage on bitcoin are now entitled to get the lions share of every new coin release?How can that possibly be fair?

Oh poor little crypto-anarchist. The world is unfair. What are you gonna do ?
Create a crypto government to tax the rich bitcoin holders and redistribute to the shitcoins holders ?

Quote from: cryptohunter on September 19, 2016, 04:27:37 AM

Well perhaps because they are the largest POW coins ?? that were fairly mined?

Fairly mined omg. Please stop, I'm gonna die laughing.
At least we're having a good laugh.

Just get some bitcoins guys, you will get bitcoins and byteballs. After the distribution you'll be free to spend your bitcoins on any crap you want.

VanBreuk

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Quote from: yvv on September 19, 2016, 07:38:42 AM

Quote from: tonych on September 19, 2016, 07:32:38 AM

Quote from: yvv on September 19, 2016, 06:39:16 AM

Quote from: tonych on September 19, 2016, 06:20:46 AM

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

They risk to lose a good chunk of their coins during this manoeuvr. I would not bother doing this.

How would they lose coins?

Exchange fees, volatility, slippage. They eat your coins.

It is quite unlikely that the cost of fees and the volatility that might affect you negatively during a dozen BTC blocks will be bigger than the Byteball stake you'll get by doing the maneuver.

If that still really scares anyone, they can join with whatever BTC they have sitting there.

I for one welcome this distribution method. It is refreshing and IMO time will show it is also smart.

yvv

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Quote from: tonych on September 19, 2016, 07:32:38 AM

Quote from: yvv on September 19, 2016, 06:39:16 AM

Quote from: tonych on September 19, 2016, 06:20:46 AM

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

They risk to lose a good chunk of their coins during this manoeuvr. I would not bother doing this.

How would they lose coins?

Exchange fees, volatility, slippage. They eat your coins.

tonych

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Quote from: yvv on September 19, 2016, 06:39:16 AM

Quote from: tonych on September 19, 2016, 06:20:46 AM

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

They risk to lose a good chunk of their coins during this manoeuvr. I would not bother doing this.

How would they lose coins?

o0o0

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Quote from: cryptohunter on September 19, 2016, 07:04:57 AM

Quote from: tonych on September 19, 2016, 06:20:46 AM

Cryptohunter, look, the purpose of this distribution is to get as many people as possible as initial holders of the coin. The number matters most, the rest is secondary. We need this to get the network effects to work and increase the value of the coin for every holder, large or small.

Now, by the number of users, Bitcoin is orders of magnitude larger than any altcoin. It is also the most liquid, you know that every altcoin is compared and traded against Bitcoin. Given that, it is clear that Bitcoin best fits the purpose.

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

That does not even make sense. Use BTC LTC and DOGE and even a few other big POW coins if you like. Then the distribution will be even wider.

btc has different value than doge and ltc.
1 btc doesnt equal 1 doge. markets change in price this would put it in favor of people with more cheap doge. running against btc seems best it has most users to draw from. exchanges have users doge and ltc. adding more alts would just increase that issue.

amacar2

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Quote from: CryptKeeper on September 16, 2016, 05:02:37 PM

Quote from: amacar2 on September 16, 2016, 01:27:46 PM

I really like the concept behind this new algorithm and actually there will be no any blocks so no block size issue word. As well as releasing tokens as sidechain on Byteball mainchain. However i will wait to initial distribution, did i have to be tester to be able to receive byte when distributed or what about those linking our bitcoin to bytecoin addresses?

No, you don't need to be a tester to receive Bytes and Blackbytes through the initial distribution but you can help finding bugs and suggest improvements! Cheesy

The process of linking your bitcoin address for the distribution will be explained later in detail. The distribution is projected for late october/november this year, depending on the work load of the development.

Ok thanks for clearing doubt, i have just bookmarked this thread to check back when real distribution will be started. When i have time, i will also try to test wallet.

cryptohunter

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Quote from: tonych on September 19, 2016, 06:20:46 AM

Cryptohunter, look, the purpose of this distribution is to get as many people as possible as initial holders of the coin. The number matters most, the rest is secondary. We need this to get the network effects to work and increase the value of the coin for every holder, large or small.

Now, by the number of users, Bitcoin is orders of magnitude larger than any altcoin. It is also the most liquid, you know that every altcoin is compared and traded against Bitcoin. Given that, it is clear that Bitcoin best fits the purpose.

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

That does not even make sense. Use BTC LTC and DOGE and even a few other big POW coins if you like. Then the distribution will be even wider.

yvv

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Quote from: tonych on September 19, 2016, 06:20:46 AM

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

They risk to lose a good chunk of their coins during this manoeuvr. I would not bother doing this.

tonych

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Activity: 965

Merit: 1033

Cryptohunter, look, the purpose of this distribution is to get as many people as possible as initial holders of the coin. The number matters most, the rest is secondary. We need this to get the network effects to work and increase the value of the coin for every holder, large or small.

Now, by the number of users, Bitcoin is orders of magnitude larger than any altcoin. It is also the most liquid, you know that every altcoin is compared and traded against Bitcoin. Given that, it is clear that Bitcoin best fits the purpose.

If you happen to hold most of your crypto wealth in altcoins, you can move them temporarily to BTC before the snapshot block, then convert back to alts right after the snapshot.

ShooterXD

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Quote from: CryptKeeper on September 19, 2016, 05:36:46 AM

Quote from: ShooterXD on September 19, 2016, 05:33:14 AM

Portuguese translation: https://bitcointalk.org/index.php?topic=1621206.new#new

Thx!

Awesome!

Tweeted, please retweet: https://twitter.com/CryptKeeperBTT/status/777818536949477376

Great! Lets make this project public! All world must know it!

CryptKeeper

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Quote from: ShooterXD on September 19, 2016, 05:33:14 AM

Portuguese translation: https://bitcointalk.org/index.php?topic=1621206.new#new

Thx!

Awesome!

Tweeted, please retweet: https://twitter.com/CryptKeeperBTT/status/777818536949477376

CryptKeeper

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Quote from: cryptohunter on September 19, 2016, 05:04:23 AM

Quote from: CryptKeeper on September 19, 2016, 04:49:57 AM

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

This is not in the spirit of crypto currency.

Good to see some Iota clones.

Clams acknowledges balances from bitcoin, litecoin and dogecoin. This selection seems to be random, I don't see how this is more fair for holders of other crypto currencies, than to use only bitcoin!

According to the market cap it should be bitcoin, ethereum and ripple. Your opinion seems to be biased toward those cryptos you own yourself.

And Byteball is not a clone of anything, it's an original source with an original consensus algorithm.

Random ?? Well perhaps because they are the largest POW coins ?? that were fairly mined?

Ripple? did you look into their initial distribution?
Ethereum where the devs awarded themselves a huge proportion?

Really? you have looked into crypto currency before?

You think clams pulled those coins out of a hat?

To use 3 POW coins that increased crypto currency uptake and interest is not more fair than to use 1 currency where a few early whales mined huge amounts with no competition?

Fine take the top 10 fairly mined POW coins then. It's up to you but whatever you dont want to start off making it too easy to alienate most of the ALT crypto community

Thanks for clearing things up for claims, now I can understand about their motivation, though I can't follow their arguments. The "fairly mined POW coins" are an illusion. Why is litecoin more fair than bitcoin? Every bitcoin whale can buy a huge amount of altcoins at the exchanges, making the miners with the large gpu farms rich. What does this say about the fairness of the distribution? But this is not to be discussed here.

Thanks that you've stated your opinion and I leave it up to the dev if he is willing to widen the initial distribution to altcoin holders.

ShooterXD

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Portuguese translation: https://bitcointalk.org/index.php?topic=1621206.new#new

Thx!

cryptohunter

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Quote from: CryptKeeper on September 19, 2016, 04:49:57 AM

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

This is not in the spirit of crypto currency.

Good to see some Iota clones.

Clams acknowledges balances from bitcoin, litecoin and dogecoin. This selection seems to be random, I don't see how this is more fair for holders of other crypto currencies, than to use only bitcoin!

According to the market cap it should be bitcoin, ethereum and ripple. Your opinion seems to be biased toward those cryptos you own yourself.

And Byteball is not a clone of anything, it's an original source with an original consensus algorithm.

Random ?? Well perhaps because they are the largest POW coins ?? that were fairly mined?

Ripple? did you look into their initial distribution?
Ethereum where the devs awarded themselves a huge proportion?

Really? you have looked into crypto currency before?

You think clams pulled those coins out of a hat?

To use 3 POW coins that increased crypto currency uptake and interest is not more fair than to use 1 currency where a few early whales mined huge amounts with no competition?

Fine take the top 10 fairly mined POW coins then. It's up to you but whatever you dont want to start off making it too easy to alienate most of the ALT crypto community

CryptKeeper

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Activity: 2044

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Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

This is not in the spirit of crypto currency.

Good to see some Iota clones.

Clams acknowledges balances from bitcoin, litecoin and dogecoin. This selection seems to be random, I don't see how this is more fair for holders of other crypto currencies, than to use only bitcoin!

According to the market cap it should be bitcoin, ethereum and ripple. Your opinion seems to be biased toward those cryptos you own yourself.

And Byteball is not a clone of anything, it's an original source with an original consensus algorithm.

CryptKeeper

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Quote from: dunhilBLACK on September 19, 2016, 02:01:08 AM

When will strast initial distributon? I like this concept.

Initial distribution is projected for late october/november, but it depends on the state of the project development.

cryptohunter

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Quote from: superresistant on September 19, 2016, 04:24:14 AM

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

I disagree. No alts from pump & dump.
Anyone can sell his shitcoins to get BTC and that's fair.
If we start accepting one shitcoin, all thousands of shitcoins will want to be added.
So accept none of them.

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

Bitcoin whales don't give a shit about altcoins. They have business to do, they won't bother claim any Byteball.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

Is this a scam? btc rich get richer~?

Deal with it.
Life's unfair.
There is no free lunch.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

use doge or ltc at least

Fuck off with your shitcoins. No one want them. Just sell them already.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

btc rich get richer~?

Shitcoin buyers always get poorer. Grow up and stop buying crap.

Totally don't agree. This coin will be cloned and distributed more fairly hence garnering more support.
Best to do it correctly from the start. Else the project is eventually doomed.
There will always be concern regarding automatically rewarding those already at the top with the most especially in the arena of cryptocurrency.

At the very least it should be a few of the major POW coins so newer crypto adopters can have a fair chance against BTC whales.

cryptohunter

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Quote from: schnib on September 19, 2016, 04:09:13 AM

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

This is not in the spirit of crypto currency.

Good to see some Iota clones.

What do you mean like clams ?
I mean the problem with the rich get richer you basically have with any ICO, even if u take bitcointalk accounts, you can just buy them for example...

And i think bitcoin has most likely the fairest distribution of all cryptos, since satoshi isnt using his anyway.

Then those that got in with the early bird advantage on bitcoin are now entitled to get the lions share of every new coin release?

How can that possibly be fair?

What about all the newcomers that actually support ALT coins not just bitcoin who hold virtually no BTC compared to BTC early whales?

Bitcoin holdings can not possibly determine your holdings of new alt releases the idea is ludicrous.

The crypto adoption has been HUGE since the release of Doge coin even with LTC. There is no hamstring the huge influx of new crypto enthusiasts by favouring btc whales.

With ICO they are risking their BTC to buy in. With this BTC whales are getting huge unfair advantage over everyone else with ZERO risk to their holdings.

superresistant

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Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

I disagree. No alts from pump & dump.
Anyone can sell his shitcoins to get BTC and that's fair.
If we start accepting one shitcoin, all thousands of shitcoins will want to be added.
So accept none of them.

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

Bitcoin whales don't give a shit about altcoins. They have business to do, they won't bother claim any Byteball.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

Is this a scam? btc rich get richer~?

Deal with it.
Life's unfair.
There is no free lunch.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

use doge or ltc at least

Fuck off with your shitcoins. No one want them. Just sell them already.

Quote from: xlilbearx on September 18, 2016, 01:19:21 PM

btc rich get richer~?

Shitcoin buyers always get poorer. Grow up and stop buying crap.

schnib

sr. member

Activity: 270

Merit: 250

Quote from: cryptohunter on September 19, 2016, 04:03:54 AM

I have to agree, should make the distribution more like clams ie have some other currencies that new crypto users have more of.

Not only to favour the bitcoin whales. Why should those that have the most always gain a huge unfair advantage over new comers?

This is not in the spirit of crypto currency.

Good to see some Iota clones.

What do you mean like clams ?
I mean the problem with the rich get richer you basically have with any ICO, even if u take bitcointalk accounts, you can just buy them for example...

And i think bitcoin has most likely the fairest distribution of all cryptos, since satoshi isnt using his anyway.

Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 1106. (Read 1234271 times)