Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 139. (Read 1234271 times)

Thank you for the offer but no thank you. I can't see myself working on or with a coin that is operated by a single person, and the distribution of which is controlled by a small group or even a single person in secret.

I actually was quite interested in byteball at launch, and had plans to run a full node and setup a bot on freenode for tipping and/or betting, but I'm quite disillusioned by the repeated changes to the distribution mechanism(s) and the total network control by a single individual 18 months after launch.

Similar to afbitcoins I still hold a bit, which I've basically written off at this point, but time is much more precious than some satoshis. I just see this thread pop up on my unread list a lot and thought I'd chime in with some perspective.

The network grows because coins can be spend on real life, and coins can be spend on real life because are valuable.

For a coin to be a coin (and not a reward which I have to sell inmediately in order to not lose it), it should have value.

Also, 65k new wallets does not mean 65k new users. It means 65k steem users aware of byteball. Aware of the dropping price and the lack of demand too (compare steem,sbd vs gbyte volumes).

If Byteball foundation wants to do it well, simply has to stop judging who deserves receive the coins.

Byteball is going against nature, against market: https://en.wikipedia.org/wiki/Pareto_principle

Even if you would be able to redistribute whole wealth in a fair manner, soon wealth distribution would become unfair, because human capability distribution is unfair.

If you impose coin distribution instead of letting market decide, then nobody would want to hold it (due to unorganic and enforced distribution rules which leads to uncertainity, and future has already enough uncertainity). And this is exactly what is happening right now.

I hope to be wrong.

had the airdrops continued as scheduled byteball would have wasted giving funds to the same users over and over again, not growing the network.

New methods clearly better, especially distributing to large platforms like Steem/ locking funds for vesting period. expect more

Ethereum has blocks and transactions.

Byteball only has transactions.

byteball has a very small team. if you would like to help out send me a DM, that would be great. thanks

The distribution has been handled very badly. I was very vocal about it at the time and my feeling has not changed one tiny bit. From my own personal point of view it started very well with airdrops to bitcoin holders, although I missed most of those due to hearing about the project too late I still thought it was a great idea.

This plan was then modified so that byte holders benefited from airdrops to a greater extent than bitcoin holders. To me this again seemed fair and a natural progression.  I bought some bytes and benefited from a couple of airdrops. In hindsight this was the high point of the distribution plan.

I was aware that the supply was increasing hugely (As it had to. But also putting downward pressure on price) but this seemed like was offset from feeling like I was getting reward in terms of a slice of the pie receiving bytes on full moon as reward for showing faith and investing in the project by buying bytes.

So I bought more bytes, anticipating full moon airdrops. But then the warning signs, distribution to be skipped for the next full moon.... and then skipped again. Even then I still   ignored it and decided to buy in bigger. The tech being exciting. Then BOOM.

No more full moon airdrops AND no plan. Instead tiny amounts trickled to people for proving their ID. wtf! Most importantly no incentive to hold instead an incentive to dump. The fall down the rankings was entirely because of this.

At this point there is no point me selling really. I've made so many losses on byteball I may as well stick with it now. Its virtually written off in my mind. Despite the failing of the distribution I still think good things are possible but it is essential that a plan is made and stuck to. And that the distribution is finished. I haven't even gone into the question of witnesses but these also need to be sorted out before any credibility will be attached to byteball.


 

The price is real crazy - a real let down for those who believed in the project and invested their money. I think Tony should have a real hard look at the distribution methods. Having no marketing might be better than the current dysfunctional methods.

Not just twitter spam, they copypasta the twitter spam to shitcointalk and/or reddit as well.