How is it going to work with 1 Trillion coins? That means the lowest price possible of .00000001 will mean a market cap of 6million!
1 quadrillion actually.
For more convenient numbers, we'll use standard prefixes: Kbytes, MB, GB.
Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 1121. (Read 1233958 times)
September 07, 2016, 03:23:00 PM
1 quadrillion actually.
For more convenient numbers, we'll use standard prefixes: Kbytes, MB, GB.
September 07, 2016, 03:11:31 PM
And this also design for the rich people, the more btc you have the more byteball you will get.
Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work
But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.
It's not so elegant if you look at some of the biggest players and their behavior.
September 07, 2016, 02:25:14 PM
How is it going to work with 1 Trillion coins? That means the lowest price possible of .00000001 will mean a market cap of 6million!
September 07, 2016, 02:17:45 PM
And this also design for the rich people, the more btc you have the more byteball you will get.
Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work
You could in theory get a short term loan and then pay it back.
There aren't that many people that have like more than .1 of Bitcoin anyway, generally speaking its a very good distribution. Also anyone with Bitcoin is richer than the majority of the world that have none. You are the 1% if you own Bitcoin
September 07, 2016, 01:45:01 PM
And this also design for the rich people, the more btc you have the more byteball you will get.
Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work
But it is an elegant way to solve the problem of initial distribution. You can always buy on the market later, if you see higher potential and want to invest money.
September 07, 2016, 01:24:12 PM
And this also design for the rich people, the more btc you have the more byteball you will get.
Yep great idea but as I am a poor person I will end up poor during swap. poor is poor and rich is rich. Kind of pointless to give those who have LOADS of btc more free money. But thats how its gonna work
September 07, 2016, 10:45:57 AM
Is there any IRC channel or slack group for discussions?
This forum so far.
September 07, 2016, 10:36:11 AM
Is there any IRC channel or slack group for discussions?
September 07, 2016, 06:22:13 AM
I am try to sent some byte to other addy but can not
If you copy the error message, I can try to help.
September 07, 2016, 06:13:41 AM
I cannot download it from playstore. It says not compatible. Could you lower it again to Jellybean, sir?
It requires the newer technology that is only there in 4.4+, sorry.
So sad to hear that it's not for mass but only for the one who have newer tech.
And this also design for the rich people, the more btc you have the more byteball you will get.
To get rich is more work than you thought, instead of waiting for the lottery.
Greetz
Steve
September 07, 2016, 06:09:43 AM
I cannot download it from playstore. It says not compatible. Could you lower it again to Jellybean, sir?
It requires the newer technology that is only there in 4.4+, sorry.
So sad to hear that it's not for mass but only for the one who have newer tech.
And this also design for the rich people, the more btc you have the more byteball you will get.
September 07, 2016, 05:49:26 AM
I am try to sent some byte to other addy but can not
September 07, 2016, 05:34:29 AM
How to prevent somebody from buying a lot of BTC's just before snapshot of bitcoin blockchain and then sell back the BTC to just keep the BYTE in his account.
It's absolutely possible, what's wrong with it?
I don't even need to buy some bitcoin, just move some of my stack in a new address then put them back away.
September 07, 2016, 05:32:32 AM
I cannot download it from playstore. It says not compatible. Could you lower it again to Jellybean, sir?
It requires the newer technology that is only there in 4.4+, sorry.
So sad to hear that it's not for mass but only for the one who have newer tech.
September 07, 2016, 05:05:00 AM
Are you both saying that exchanges will use their customers' bitcoins to claim bytes for themselves?
Why not? All they need to do is link their BTC addresses.
After all, you don't get POS rewards from exchange balances.
Well, technically they can do it, if they don't care what people think when it is uncovered.
September 07, 2016, 04:54:35 AM
*pinned*
September 07, 2016, 04:50:59 AM
Are you both saying that exchanges will use their customers' bitcoins to claim bytes for themselves?
Why not? All they need to do is link their BTC addresses.
After all, you don't get POS rewards from exchange balances.
September 07, 2016, 04:32:50 AM
How to prevent somebody from buying a lot of BTC's just before snapshot of bitcoin blockchain and then sell back the BTC to just keep the BYTE in his account.
It's absolutely possible, what's wrong with it?
September 07, 2016, 04:16:57 AM
Why not cap the max amount? Lets say 10 or 20 BTC. It would be nice if there would be a balanced distribution without giant "whales"!!
I have no idea how you want to check if someone use several addresses. But it would help to keep the exchanges out.
Or like NEM has done. But i can imagine that this would gives you a huge effort to check the claims.
I have no idea how you want to check if someone use several addresses. But it would help to keep the exchanges out.
Or like NEM has done. But i can imagine that this would gives you a huge effort to check the claims.
As you correctly noted yourself, whales will use several addresses, it won't work.
September 07, 2016, 04:12:41 AM
I cannot download it from playstore. It says not compatible. Could you lower it again to Jellybean, sir?
It requires the newer technology that is only there in 4.4+, sorry.
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