Obyte: Totally new consensus algorithm + private untraceable payments - page 137.

jwinterm

legendary

Activity: 3136

Merit: 1116

Quote from: meterse on August 16, 2018, 04:27:59 PM

Quote from: jwinterm on August 16, 2018, 11:16:45 AM

Isn't almost every coin on the above infographic using per kB fees? How is that not "directly proportional to space used on ledger"?

Also, the stupid meme about proof of work being some massive waste of energy is stupid. It's more akin to converting excess energy to stored value (bitcoin) rather than letting it burn off as waste heat.

nope, talking about bitcoin fees rise as transaction volumes rise

Byteball doesnt have this problem

Not directly, but if byteball transactions rise, then it would be logical to assume that byteball price would increase, correct?

So if byteball had market cap of Bitcoin, it would be about 3176x more expensive per byte/gbyte, pushing your expected tx fee from $0.00007 to $0.22 - not crazy expensive, but a lot more than nothing. And I think most people expect Bitcoin to continue to grow, if it was 10x higher that would be over $2 per byteball tx.

Personally, I agree with other commenter that dynamic fees make more sense. You can disagree, but you can't pretend that this is some panacea that would prevent $1+ fees of many people actually used byteball.

meterse

copper member

Activity: 226

Merit: 8

Quote from: vlom on August 16, 2018, 02:03:57 PM

this can change. and tell me 10 things that BTC is used for.

10 things? Im struggling to think of 3

meterse

copper member

Activity: 226

Merit: 8

Quote from: jwinterm on August 16, 2018, 11:16:45 AM

Isn't almost every coin on the above infographic using per kB fees? How is that not "directly proportional to space used on ledger"?

Also, the stupid meme about proof of work being some massive waste of energy is stupid. It's more akin to converting excess energy to stored value (bitcoin) rather than letting it burn off as waste heat.

nope, talking about bitcoin fees rise as transaction volumes rise

Byteball doesnt have this problem

vlom

legendary

Activity: 1498

Merit: 1117

this can change. and tell me 10 things that BTC is used for.

Guffy

newbie

Activity: 50

Merit: 0

@meterse you are silent about one important thing.

Bob - bitcoin user. Alisa - byteball user. They make 10 tx every day and store $10k.

Jan. Bitcoin $20k, byteball $1.2k
30 Jan. BTC - 10k, gbyte - $600, 300 tx = $258 (btc), $0.021 (byteball)
Bob lost $5258, Alisa lost 5000.021. Bob store 4742, Alisa 5000

8 March. BTC - 9k, gbyte - $300, ~380 tx = $326 and $0.026
Bob store $3940, Alisa $2500

29 March. BTC - 6900, gbyte - 150, 210tx = 180 for btc
Bob store $2840, Alisa $1250

16 Aug
BTC - 6400, gbyte - 59, ~1360tx = $1169 for btc
Bob store $1465, Alisa $491

The more money you store, the worse situation for byteball. Byteball is use and run. But what to use? Betting bot? Bitcoin is millions times more use cases

Guffy

newbie

Activity: 50

Merit: 0

Quote from: jwinterm on August 16, 2018, 11:16:45 AM

Isn't almost every coin on the above infographic using per kB fees? How is that not "directly proportional to space used on ledger"?

Also, the stupid meme about proof of work being some massive waste of energy is stupid. It's more akin to converting excess energy to stored value (bitcoin) rather than letting it burn off as waste heat.

They still can not to understand that without fees market, low-capacity coins (any decentralized crypto atm) will be vulnerable to a ddos attack. Byteball fess = tx size is not advantage, is a vulnerability that other coins don't have. There is two problem, too cheap to attack when cap is low and too expensive to use if cap too high. Byteball is literally a step backward
If you can wright a spam script, you can shut down Byteball only for $35-70 per day of a ddos. This coin is a total crap, from any point of view

jwinterm

legendary

Activity: 3136

Merit: 1116

Isn't almost every coin on the above infographic using per kB fees? How is that not "directly proportional to space used on ledger"?

Also, the stupid meme about proof of work being some massive waste of energy is stupid. It's more akin to converting excess energy to stored value (bitcoin) rather than letting it burn off as waste heat.

CryptKeeper

legendary

Activity: 2044

Merit: 1055

Quote from: ?? on ??

Quote from: CryptKeeper on August 16, 2018, 12:37:27 AM

Blackbytes are real! The coins are sent peer-to-peer, not visible on the public ledger.

Read more about it here https://wiki.byteball.org/Blackbytes

Thank you for the given helpful link to Blackbytes of byteball.
I gonna discover more about blackbytes later today.
It is my first time to know about black byte, so it is very interesting to find out how it different than bytes.

DM me if you want some Blackbytes to play with!

meterse

copper member

Activity: 226

Merit: 8

Guffy

newbie

Activity: 50

Merit: 0

Quote from: altcoinb on August 15, 2018, 04:32:58 PM

Quote from: Guffy on August 15, 2018, 04:21:02 PM

What a scam gbyte red even when the whole market green

ok, than leave this scam thread and buy doge Wink

Good idea bro, if do not take into account the fact that i bought byteball at 0.3 btc Grin

There left 0.004 btc from 0.2 invested. Do not thin that this dust will suffice even to pay the commission)

bottacoin

newbie

Activity: 82

Merit: 0

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CryptKeeper

legendary

Activity: 2044

Merit: 1055

Quote from: netbase on August 15, 2018, 04:31:10 PM

Will this really work, untraceable payment.

Blackbytes are real! The coins are sent peer-to-peer, not visible on the public ledger.

Read more about it here https://wiki.byteball.org/Blackbytes

jbreher

legendary

Activity: 3038

Merit: 1660

lose: unfind ... loose: untight

Quote from: Quaglia on August 15, 2018, 03:40:39 PM

~~According to Metcalfe's law, the value of a network (cryptocurrencies are networks) is growing proportionally to the quantity of the nodes of the network (people with wallets are nodes in crypto).~~

Please do not invoke Metcalfe's Law if you do not even know what it is.

Real14Hero

hero member

Activity: 952

Merit: 576

Quote from: KyleHaruna on August 15, 2018, 06:16:29 PM

Does the steemit user who has a reputation above 30 can still claim byteball?

Well I beleive yes, I claimed it a few days ago. Just link your account and steemit.
If you dont have bytes for linking then I can help you out with some byteball if you want.
See here : https://bitcointalksearch.org/topic/m.42427983

meterse

copper member

Activity: 226

Merit: 8

The Byteball South Korean community is large enough that it warrants its own dedicated Slack. And it has one!

South Korean users can join here: https://byteball-kr.slack.com/

KyleHaruna

newbie

Activity: 12

Merit: 0

Does the steemit user who has a reputation above 30 can still claim byteball?

andreibi

legendary

Activity: 1647

Merit: 1012

Practising Hebrew before visiting Israel

Quote from: Benjamin2503 on August 15, 2018, 05:09:12 PM

Quote from: Guffy on August 15, 2018, 04:21:02 PM

What a scam gbyte red even when the whole market green

Looks like someone decided to sell some BYTEBALL coins, maybe someone comes out of the coin. The best thing is to buy those who believe in the project on such sales of BYTEBALL coins, I think it will be justified in the future.

Too many BTC whales got free Byteball, they could easily capitulate when it seems better to cash out before GBYTE becomes dead. They could have not known that this is actually the best time to buy.

Benjamin2503

member

Activity: 135

Merit: 10

Quote from: Guffy on August 15, 2018, 04:21:02 PM

What a scam gbyte red even when the whole market green

Looks like someone decided to sell some BYTEBALL coins, maybe someone comes out of the coin. The best thing is to buy those who believe in the project on such sales of BYTEBALL coins, I think it will be justified in the future.

meterse

copper member

Activity: 226

Merit: 8