Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 250. (Read 1234344 times)

UPDATE: There is a somewhat more refined version of this article here:
https://www.reddit.com/r/ByteBall/comments/7zvigt/dear_fellow_byteballers/

A Call for Calm, Rationality & Honest Reflection by All Byteballers

With a goal of building a Strong & Vibrant Community in Spite of this recent PR setback.
I Invite all of you to put aside past issues and try to see things with a fresh perspective.

Let's have a Reset...


Dear Fellow Byteballers,
my apologies this post is so long but there is a lot I'd like to cover.


Most Importantly this:
We, the Community must find a way to get on the same page about some core issues
if we are ever to see a long term future for ByteBall. Which surely is what we all want.
Long term survival is the Supreme Mission ...


We Simply Must stop Fighting Among Ourselves about Issues of No Real Importance.
"A house divided against itself cannot stand"
ByteBall cannot succeed without Community. End of Story. Does EVERYONE get it?

(...)

March distribution canceled?

As I said before, airdrops to holders of BTC and Bytes, which we did on full moons, were a good way to bootstrap the network and get initial attention.  But last few airdrops failed to attract any significant number of new users while quickly consuming the undistributed pool.  We had to pivot to other distribution methods, but at the time I was writing the above post they were not ready yet, and I had to tentatively put another old-style airdrop on the calendar.

Now that the new distribution methods are ready and proven, and we've added even more methods than originally planned, the March airdrop is cancelled.  November airdrop was the last one that paid to holders in proportion to their balances.

This is the list of the current distribution methods (in no particular order) that we'll continue to use and improve:

1. Cashback.

2. Verification rewards and referral rewards to those who verify their real name.  It is true that the referral system didn't work quite well for new users who have no Bytes yet, and we are going to introduce a new scheme which will allow to refer new users without sending them any Bytes.

3. Giveaways, such as those that Rafael does to his youtube subscribers.

4. Mass sending of textcoins to subscribers of our partners.  We have done two so far https://docs.google.com/spreadsheets/d/1heT6TUSpTJgRW-FUM0LbcoVjXZRCb3PbXQQLmzvNRvM/edit#gid=323859176 and will work on improving conversion in the future campaigns.

Other similar methods will be added over time, the purpose is to use the remaining undistributed coins most efficiently to acquire as many new users as possible.

There were multiple suggestions to redirect a part of undistributed funds from free distribution, i.e. from acquiring users, and spend it for hiring more people, paying contractors, etc.  While I understand the reasoning behind these suggestions, it is also important that we learn to spend money wisely, with the maximum effect per spent $, before (and if) we scale up the budget.  Anyway, it is unnecessary to repurpose the undistributed funds now as we have enough funds in the Community Fund to fund the current operations in the near future: it is over $1m in Bytes (plus another $1m in less liquid blackbytes).

Andreas speaks about DAG. I think he is right that with DAG you sacrifice decentralization and coersion resistance by removing proof of work. Byteball is a good example of this. We have 12 witnesses in the hands of 1 person. And even if these 12 witnesses are 12 different people it's easy by governments to coerce them for censorship or just shut down the whole system.

https://www.youtube.com/watch?v=lfgMnbb5JeM

It is clear that Tony can manipulate the market price of byteball with his own announcements.

He can buy in the market, then announce a good new, pumping the price and then sell his byteballs just before announcing bad news, to buy again lower.

This is not serious and makes me not to believe any more in this project and so I have sold my byteballs. Not interested in beeing a holder any more.

I did. How much should I scroll to find the answer to "what happened" ?

If only it was mentioned in the OP or on the website or anywhere instead of just deleting any trace of the upcoming distribution I wouldn't have to ask..

Every other post is the same question. Spend 5 minutes reading back it may help

There was supposed to be a distribution on 1st of March.. what happened ?

No free distribution any more, bro.

You need read the new rules.

Hi guys.
Byteball's wallet is looks ready to go for larger adaption.
 When will the next distribution to bytebal holders exactly happen? Full moon of march? I had some bytes in my wallet.

Andreas speaks about DAG. I think he is right that with DAG you sacrifice decentralization and coersion resistance by removing proof of work. Byteball is a good example of this. We have 12 witnesses in the hands of 1 person. And even if these 12 witnesses are 12 different people it's easy by governments to coerce them for censorship or just shut down the whole system.

https://www.youtube.com/watch?v=lfgMnbb5JeM

Maybe you can add hashgraph, although they dont have a coin (yet).

Do we know how much it will cost? Given that there are bytes which have still not been distributed, it might be a worthwhile exercise using some of those to get the coin listed on Binance.
I doubt if they will remain fixated on asking some member of the core team to apply to get the coin listed. If Byteball becomes big, it might be in Binance's interest to get it listed, with or without Tony asking them to.

There is another competitor NANO (formerly Raiblocks) which uses the Tangle technology. Byteball has very low transaction fees.

It seems you don't have any GByte yet when you don't know about it, right? Then I wonder why you are missing the day when 1 GByte was 0.33 BTC, you have the chance to buy Byteball very cheap now.

This is the list of the current distribution methods (in no particular order) that we'll continue to use and improve:

1. Cashback.

2. Verification rewards and referral rewards to those who verify their real name.  It is true that the referral system didn't work quite well for new users who have no Bytes yet, and we are going to introduce a new scheme which will allow to refer new users without sending them any Bytes.