Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 243. (Read 1234271 times)

You are quite right my risk, my bad decision. Stupid me. I took the roadmap of distributions at face value. Regardless of that I am allowed an opinion on the matter. It is only because I care that I am taking the time to have my say.

   

OK thanks I wouldn't have known that. 

   

I don't really follow your argument about investors but I'll say this. The bytes that are given away for 'free', were also received by Tony for free. He didn't buy them. At the moment when they were generated they had no value. None. Not to take away from Tony's hard work and inspiration but that is the fact of it. Value came later in large part from the roadmap and peoples beliefs about what byteball might grow into. This is still the case and I subscribe that the value is decreasing now in large part because of the vision changing to a more centralised reality is being priced in and it has a lower value.

Imagine if some powerful dictator of bitcoin (which thankfully doesn't exist) deciding to add another 40% to the total number of bitcoins and instead of mining just pay them to hmself and decide how to spend them to increase the number of users? It doesn't sound good does it? The airdrops are a necessary evil to get out of the way so we can all get on with no longer giving a flying fuck about how they will be distributed because that will be history. He is not 'spending' them wisely he is giving every appearance of a dictator making bad decisions and not understanding why the network has value.

Call this girly whining if you want. Personally I think I deserve to have a seat on the board for telling it how it is.

He just copy/pasted this Medium post: https://medium.com/@Suirelav/byteball-whats-happening-march-2018-fcb915761999

People call themselves investors, hence "so called". Receiving something for free doesn't make you an investor. Buying something for BTC or fiat that is given away for free doesn't make you an investor either. Still people insist they are investors. Holding a currency that noone uses yet isn't going to help adoption much, or is it?

It's indeed a dream, or vision if you will, of what Byteball could become in a few years. People are way too close minded to see what this can become and only think about short term (gains).
Once people stop having dreams it's time to shut the door and leave.

nothing wrong with holding. But if you bought currency just for hold, don't be a girl when you lose all your investments. It was your choice, your risks, your money, your life

So called investors? What is wrong with investors? Have you invested in any bytes?


Again! What is wrong with holding a currency for long term? Holding (or saving) is as legimate a 'use' as spending (if you can find anywhere to spend it), exchanging, or gambling on a bot or whatever else one wants to do


At this point you are just dreaming. I imagine not one of these even knows byteball exists nevermind planning to stake their reputation to it. Meanwhile all default witnesses still controlled by Tony. (And all witnesses fees collected by Tony). While we're making stuff up lets add JP Morgan, The IMF and the ECB to the witness list.

See you next month. Who are you again?? the new PR guy?

SilentNotary ICO introduces ByteBall in legal field
http://www.morningrelease.com/story/149022/silentnotary-ico-introduces-byteball-in-legal-field.html

ICO SilentNotary on Byteball https://silentnotary.com/

Byteball — What’s happening? — March 2018

Crypto does not necessarily mean mining.
Welcome to the third monthly Byteball update in 2018. If you missed the previous recap it can be found here.

For those of you who don’t know anything about Byteball yet, I recommend you to check out the website. Even better, read the whitepaper. Still have questions? Check out the wiki.

Alternatively you can check out this introduction series right here on Medium:

Introduction to Byteball — Part 1: Why?
Introduction to Byteball — Part 2: The DAG
Introduction to Byteball — Part 3: Smart Contracts
Introduction to Byteball — Part 4: Adoption

For those of you already familiar with Byteball, here we go:

March & all future airdrops cancelled
The most controversial news for sure has been the announcement by lead developer and Byteball founder Tony Churyumoff that the March full moon airdrop was cancelled. So far the great majority (65% in 10 rounds) of the Bytes distribution has been done through this innovative mechanism. People could link their Bitcoin address to receive free Bytes every full moon. Bytes holders were also encouraged to hold on to their Bytes as they also got 10–20% for free every round.


At first this distribution method was a great way to get people who were already involved in the cryptocurrency space interested in Byteball. At some point however the method started to show huge diminishing returns, not justifying the cost anymore. A few new methods of distribution were developed but they needed time to come to fruition. Tony therefor felt he had to plan a final tentative airdrop for March in case the new methods also weren’t satisfactory. He waited till almost the last possible moment (2 weeks prior to the airdrop) to announce the cancellation.

Let’s just say the news wasn’t exactly celebrated, some even say it was a PR disaster. Even long time fan Richard Heart was so dismayed that he started to tweet negatively about Byteball. And he wasn’t the only one, some long time community members ragequit and sold all their Bytes. Let me try to summarize the criticism:

Lots of people invested in Byteball just because of the airdrops. The airdrop was advertised for months, you had to really read the smallprint to understand that it could be cancelled at any time;
Keeping 35% of the undistributed Bytes without a concrete plan how they will be distributed is very sketchy and scares away investors;
Changing the plan without any discussion shows how centralized Byteball really is, no better than an ICO where the developers keep 35% of the coins;
TL;DR: Trust issues!
But the future is bright
As a long time fan I am obviously very happy that Tony made this difficult decision. Obvious to me, maybe not to you, so let me try to explain why cancelling the airdrops is perhaps the best thing that could happen to Byteball besides organic user adoption.

Tony’s vision, as laid out in the whitepaper, is crystal clear to me. He is extremely ambitious. Byteball is barely 1 year old. Distribution is nowhere near finished, decentralization still has to happen and new features are being churned out like clockwork.

Anyone who zooms out a little can see that this is the most impressive crypto project of them all, especially considering it’s mostly being built by a single genius coder who luckily cares more about actual users than so called investors. So what is it that makes me love Byteball so much then? I’ll try to summarize it here:

Byteball is designed from the ground up as a better version of Bitcoin in every possible way, yes even security wise. In theory ofcourse, Tony is busy building all this;
He has the understanding that you should focus on user adoption and user experience instead of speculation/exchanges. This is the only way to reach long term success;
Currently Byteball is capped at roughly ~15tps max but no time is wasted on speed optimization yet because the network is nowhere near capacity at the moment, so that would be a waste of time, better to work on new features. We know it can scale;
He understands that Byteball is meant to be used in the real world instead of “HODLed till moon”. So some kind of trust is not bad, extremism is bad. You can still be swindled with your 100% trustless currency, because the physical world does actually exist. So why not integrate with it! Witnesses are a brilliant solution to bond the real and virtual worlds;
Marketing, whatfor!? The basics aren’t even finished yet, why start screaming already? Marketing to get active contributors involved, yes!
So once all of this is done, a few years from now probably, Byteball will turn into:

The most feature rich, extremely fast (at least x100 from now) crypto platform you can imagine with insanely low fees that has millions of actual users;
12 high profile real world witnesses, like Jumio, Bittrex, Amazon, Tesla, Wikileaks, UNICEF, etc. providing decentralization and security;
Many useful chat bots and integration in many web front ends / web applications as a backend system.
That’s what I believe in and why I have bought some (a lot) GB on top of what I got for free.
Everyone that learned about this project before November 2017 had a chance to own a part of this for FREE, Tony never asked anyone to invest in it.

Now that the groundwork is almost finished and actual ICOs can be run on Byteball it’s beginning to make sense to buy some Bytes to actually use it, so why give everything away for free to the people who already got so many. It just doesn’t make sense. So from this whole vision it’s super obvious that the airdrops must stop, they will destroy the vision when continued.

I don’t think I will convince many of the people in the first group but at least I tried. Let me know in the comments on which side you stand and why.

New distribution methods
So, no more airdrops, how do we get new users then? Luckily Tony developed a few promising new methods:

Cashback Program
Verification & referral rewards
Giveaways (example)
Mass textcoin mailings
Most of these methods are quite new and the user adoption path is ofcourse way harder than the “free money” route, but if we can get this ball rolling the result will be far greater than the airdrops could ever achieve. And Tony isn’t stopping here, more methods will be added in the future.


New ICO on the Byteball platform
Quite a surprise was the announcement of a new ICO on February 15 called SilentNotary. SilentNotary is a digital notary that saves and certifies documents, emails, chats, and audio/video recordings.

The authenticity of these records will be ensured by posting them both to the Ethereum blockchain and the Byteball DAG.

The ICO is active until 15 March 2018. If you’re interested you can find the “SilentNotary ICO” bot in the Bot Store. You can buy SNTR tokens with Bytes, BTC, or Ether.

By the way, the ICO bot now supports KYC and non-US attestation making Byteball the only ICO platform (that I’m aware of) which supports KYC out of the box.
Save the best for last
Overlooked but awesome news nevertheless is the fact that developers can now access almost any function of headless Byteball node via JSON-RPC.

Previously, only a small subset of functions was available through RPC.

This allows to easily integrate BB nodes with programs written in languages other than node.js.

Can’t wait to see what becomes of this!

No marketing news?
A few things are brewing
I bet next month this recap will be full of marketing / PR news.

That’s it for now. Don’t forget to check out the Byteball subreddit and join the community. See you next month!

I wish I could laugh with you, really I do.

It's no joke: Cryptopia has confiscated a significant % of outstanding bytes, which belong to their customers.

Byteball PR needs to address this. Plenty of users are sweating a Cryptopia Goxing for the last 2+ months (coins have been stolen for over 3 months).

I like the private untraceable payments aspect of it! Interesting.

thanks mate, this post should definitely go in the top 10 of this thread
this probably too "I can't get your points. After the total distribution ending, it can be treated as decentralization."

If Byteball is such a shitcoin, why did Cryptopia steal all their customers' GBYTE deposits?

They've confiscated all of the GBYTE on Cryptopia for over 3 months -- since early December.

They don't respond to support tickets. They pretend business is ongoing, but still all the bytes are stolen.

Why do they want bytes so bad?

Maybe this was another reason for cancelling the airdrop -- people would have been even more upset when an endorsed exchange had Gox'd a huge % of users, since GBYTE is only on a few exchanges.

Will the distribution funds be use to reimburse Cryptopia users when people finally admit that Cryptopia ran off with all the bytes?

The sad side of story is  that people have started losing interest  in Byteball after seeing whats happening,  right now this people are getting desperate for selling their Gbytes.

I can't get your points. After the total distribution ending, it can be treated as decentralization. However, you are right, it is not now.

Another saving grave is that many people like me still hold the bag as some sort of hedge against "common sense crypto practices"... just in case those failed completely, you know. At the moment it is working perfectly as a hedge (being -10x than its ATH in BTC pair). As such, I will keep holding even until pennies, no worries here.

True. The only saving grace is that there are a lot of bag holders, who think that it cannot get worse from now onwards. Unfortunately, Byteball's price keeps dropping and it does keep getting worse. If this continues, it won't be long before Byteball drops from the top 100. When that happens, you can be sure that anybody who is new to crypto will not give it a second look.

I read this thread from time to time... and it is always the same. People doesn't get that Byteball is not about price, value or anything except an experiment in testing what would happen if all (previously assumed) good crypto market practices (such as decentralization and trust) were blatantly ignored. As such, it is doing a great job in testing and confirming they were in fact the way to go.

 

Are you doing any PR work ?

yes, exactly my point.

this march airdrop should have been the last one but it was the very wrong decision to cancel it in the last moment after advertising it for several weeks and giving investors a false motivation to invest.
how should investors and supporters keep believing this head developer and main coin holder after this?
although he might have not promised it 100% he still changed his mind about a very big issue with lots of investors and supporters being involved who are very upset about his sudden mind change and lost their trust in him.

i actually think it was not his own idea to cancel this airdrop, it was rather the "great idea" of some of the newly hired consultants and "marketing experts".
their ideas for the new distribution methods might be not bad in theory how they could work but in practice these methods will fail and the whole project will suffer (does already) because of this "innovative" idea/decision.
after doing this last airdrop there would have been still enough of coins left for these "little nice ideas" to try these new ways of distribution.
but that way they wouldn't have had so many investors and (former) supporters being upset and would have maintained the overall trust of the community.

let's just hope that in long term the good technical structure of this coin makes it survive this issue and grow again.
i hope they will find some better ideas for the distribution of the rest 40% in which the actual supporters could take part a little more.

 

Yes. Market also very excited about the complete ignorance of Bytefan's concerns by the dev "team".

Price is only down like 70% since cancellation of airdrop. How can you not interpret that as a great success and ringing endorsement from the community of folks who already owned byteballs? Clearly price would have dropped like 90% if coins were distributed on full moon