Obyte: Totally new consensus algorithm + private untraceable payments - page 1115.

tonych

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Quote from: bitcoinuserz on September 11, 2016, 07:58:16 AM

I am reading the whitepaper and why do i feel like satoshi is back? Huh

Btw, how does this witness thing work? Does witness get fees from maintaining the network?

Yes, they get part of the fees paid by users.

tonych

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Quote from: yvv on September 11, 2016, 07:52:28 AM

Quote from: tonych on September 11, 2016, 05:35:53 AM

The snapshot will be taken on block 437000 in early November (subject to change).

Pick a block number randomly out of range of blocks, e.g. 437000-438000, after the last block in the range is closed.

What for?

tonych

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Quote from: CryptKeeper on September 11, 2016, 07:34:55 AM

Reposted [ANN] here: https://forum.bitcoin.com/alternative-cryptocurrencies-altcoins/byteball-totally-new-consensus-algorithm-private-untraceable-payments-t10557.html
Twitter: https://twitter.com/CryptKeeperBTT/status/774932018434043904
Facebook: https://www.facebook.com/permalink.php?story_fbid=1798261650460580&id=100008302879126
And posted the link in various slacks.

Thanks a lot!

tonych

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Quote from: John_Paul on September 11, 2016, 08:26:07 AM

Quote from: tonych on September 09, 2016, 02:53:57 AM

Quote from: John_Paul on September 08, 2016, 10:01:32 PM

Since there will be no ICO, how do you plan to fund this project in short term and long term?

Like I did before for the previous 22 months, plus I allocate 1% for myself.

Did you mean that you will not hire any additional devs in the future? How long can you sustain with your own funds? I am not a skeptic. I just want to understand and evaluate the project's financial situation.

I might move one of my employees to this project. Don't worry about funding, I can afford building something long term, even if the community is slow to join development.

EpyxZ

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If you dont see bounties it would make sense to not post asking about them continuously.. Cant wait till september

John_Paul

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Quote from: tonych on September 09, 2016, 02:53:57 AM

Quote from: John_Paul on September 08, 2016, 10:01:32 PM

Since there will be no ICO, how do you plan to fund this project in short term and long term?

Like I did before for the previous 22 months, plus I allocate 1% for myself.

Did you mean that you will not hire any additional devs in the future? How long can you sustain with your own funds? I am not a skeptic. I just want to understand and evaluate the project's financial situation.

CryptKeeper

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Activity: 2044

Merit: 1055

Quote from: yassin54 on September 11, 2016, 08:09:04 AM

Quote from: CryptKeeper on September 11, 2016, 07:34:55 AM

Reposted [ANN] here: https://forum.bitcoin.com/alternative-cryptocurrencies-altcoins/byteball-totally-new-consensus-algorithm-private-untraceable-payments-t10557.html
Twitter: https://twitter.com/CryptKeeperBTT/status/774932018434043904
Facebook: https://www.facebook.com/permalink.php?story_fbid=1798261650460580&id=100008302879126
And posted the link in various slacks.

Rtd!!

Yassin, I'm glad you're here! Now the fun can start... Cheesy

BTW I'm just answering questions in the supernet slack.

yassin54

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Quote from: CryptKeeper on September 11, 2016, 07:34:55 AM

Reposted [ANN] here: https://forum.bitcoin.com/alternative-cryptocurrencies-altcoins/byteball-totally-new-consensus-algorithm-private-untraceable-payments-t10557.html
Twitter: https://twitter.com/CryptKeeperBTT/status/774932018434043904
Facebook: https://www.facebook.com/permalink.php?story_fbid=1798261650460580&id=100008302879126
And posted the link in various slacks.

Rtd!!

bitcoinuserz

sr. member

Activity: 360

Merit: 250

I am reading the whitepaper and why do i feel like satoshi is back? Huh

Btw, how does this witness thing work? Does witness get fees from maintaining the network?

yvv

legendary

Activity: 1344

Merit: 1000

.

Quote from: tonych on September 11, 2016, 05:35:53 AM

The snapshot will be taken on block 437000 in early November (subject to change).

Pick a block number randomly out of range of blocks, e.g. 437000-438000, after the last block in the range is closed.

CryptKeeper

legendary

Activity: 2044

Merit: 1055

Reposted [ANN] here: https://forum.bitcoin.com/alternative-cryptocurrencies-altcoins/byteball-totally-new-consensus-algorithm-private-untraceable-payments-t10557.html
Twitter: https://twitter.com/CryptKeeperBTT/status/774932018434043904
Facebook: https://www.facebook.com/permalink.php?story_fbid=1798261650460580&id=100008302879126
And posted the link in various slacks.

tonych

legendary

Activity: 964

Merit: 1008

Quote from: CryptKeeper on September 11, 2016, 03:14:35 AM

Quote from: 1btcdream on September 11, 2016, 02:45:30 AM

Quote from: CryptKeeper on September 11, 2016, 01:59:40 AM

Quote from: animalroam on September 10, 2016, 07:44:37 PM

So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

IMHO a snapshot of the bitcoin blockchain must be taken at a defined block height to verify the address amounts. Without a snapshot one could easily move his bitcoins around and claim bytes multiple times.

Snapshot at a certain block height is good but combining those bitcoins into one address in order to claim would become impossible.

Yes but I don't see any alternative to a snapshot, the risk that you can game the distribution is too high and this must be prevented at all costs. What's the advantage to combine your bitcoin adresses anyway? In bitcoin best practice is to not re-use addresses. I think it would be better to claim with multiple addresses from your wallet without moving coins around.

The snapshot will be taken on block 437000 in early November (subject to change).

Answering the original question, consolidating all bitcoins to a single address is recommended for convenience, otherwise you'll have to claim for each individual address. If concerned about what blockchain analysts can uncover about you, pass the coins through a mixer prior to consolidating.

Coinbase users will need to create a coinbase vault with the option "I will manage security myself Advanced" and move their coins to this vault. With this option, your BTC will be on your address, not on coinbase's.

CryptKeeper

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Quote from: 1btcdream on September 11, 2016, 02:45:30 AM

Quote from: CryptKeeper on September 11, 2016, 01:59:40 AM

Quote from: animalroam on September 10, 2016, 07:44:37 PM

So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

IMHO a snapshot of the bitcoin blockchain must be taken at a defined block height to verify the address amounts. Without a snapshot one could easily move his bitcoins around and claim bytes multiple times.

Snapshot at a certain block height is good but combining those bitcoins into one address in order to claim would become impossible.

Yes but I don't see any alternative to a snapshot, the risk that you can game the distribution is too high and this must be prevented at all costs. What's the advantage to combine your bitcoin adresses anyway? In bitcoin best practice is to not re-use addresses. I think it would be better to claim with multiple addresses from your wallet without moving coins around.

provenceday

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that's some cool idea.

1btcdream

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Quote from: CryptKeeper on September 11, 2016, 01:59:40 AM

Quote from: animalroam on September 10, 2016, 07:44:37 PM

So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

IMHO a snapshot of the bitcoin blockchain must be taken at a defined block height to verify the address amounts. Without a snapshot one could easily move his bitcoins around and claim bytes multiple times.

Snapshot at a certain block height is good but combining those bitcoins into one address in order to claim would become impossible.

dsattler

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Activity: 924

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What a great project, very interesting!
Keep up the good work and it will become very famous!
I will follow this.

CryptKeeper

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Quote from: animalroam on September 10, 2016, 07:44:37 PM

So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

IMHO a snapshot of the bitcoin blockchain must be taken at a defined block height to verify the address amounts. Without a snapshot one could easily move his bitcoins around and claim bytes multiple times.

samantadegrenet

hero member

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Dont think is great way to distribute to people this coin! But off course everyone can say what they like to say!

biggernugs

sr. member

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Quote from: animalroam on September 10, 2016, 07:44:37 PM

So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

great question because there are quite a few places that use similar systems. It's almost like ETC distribution where exchanges will have large wallets with multiple customers funds that they need to personally allocate. Definitely interested in the answer.

animalroam

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So when distribution happens, would we need to consolidate all bitcoins to a certain address before a certain block? How would sending from a coinbase wallet work - if a user sent maybe 0.0001 BTC from an address to your address and the Coinbase address contains 100 BTC, would he/she have a weight of 100 BTC during distribution?

Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 1115. (Read 1233994 times)