Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 38. (Read 1234271 times)

Obyte (GBYTE) Rank 214
   

Such a pity this thread has been spoiled by Newbie/Junior fudders, who are adding so much background noise to the thread so that any meaningful content is lost.
I'm still wearing the old Byteball signature, and so are others. It would be useful and appropriate if someone would prepare new signatures with the new name, though.

I think the project is unique enough but it also needs some speculation. Speculation (aka price appreciation) is essentially the only thing in the first stadium that moves the needle higher. Not awesome tech.

even Marc De Mesel sold his bytes 

lack of community involvement made black bytes look like a cripple without crotches. One more leg kick and this nigger goes to sleep. Im not to reprimand the community for not taking any action in the past to resurrect the faith of nigger byte holders in the coin they possess through systematic pumps. I am to tell people how to make difference in everything they do, even in making crypto. This sucker is dead coz it does not make difference it aint unique.

soon gbyte will cost as bitcoin dust 

Every time the price or volume drops, bunch of people come out of nowhere an point that out, while nobody mentioned anything when price or volume increased.
That causes the price or volume drop even more because the message gives impression that something went wrong while it was just a slow day or rest of the market crashed too (that's usually most common thing and increased amount FUD causes Obyte fall even more than other alts).

That is exactly FUD by definition: Fear, uncertainty, and doubt.
And it is usually executed by the bagholders themselves by echoing negative events. And then everybody is surprised why Obyte is doing so badly, it's not the bad marketing by Obyte, it's a bad marketing by the community who nullify any gains that were done with positive marketing.

What is your understand on what FUD means?

Please calm down, fella. I took overview on Obyte chart, price trend and volume, so honestly I missed those days you pointed out. Thank you for letting me know about those days. But, please look back at my post, I did not say anything bad about Obyte, and FUD, I did not fud. 
Technically, I would prefer to say good words (good signals, more exactly) for investors. Stable low volume gives experienced investors one of strong signal to accumulate, because it is one of good indicator for bottom range.

21,000,000 BTC
  1,000,000 GBYTE

2,100,000,000,000,000 satoshis
1,000,000,000,000,000 bytes

1 GBYTE = 1,000,000,000 bytes

1 GBYTE = 1,000,000 bytes?

So, and just 2 days ago on 28th June, there was more than 10BTC volume and that's not only time when the volume was over 10BTC in last month. Did you just waited until the volume dropped under 1BTC, so you could FUD about it? Too bad that you missed 19th June, when the trading volume was only $6,542, all other days it has been 5 digit number.

McAfee said that Bitcoin will go $1m by the end of 2020. In that case, 0.0001 GBYTE/BTC would mean $100 per GBYTE. That's more than it is now. Ok, the second McAfee prediction was way optimistic, so let's take his first prediction, $0.5m by end of 2020, that would still be $50 per GBYTE. https://twitter.com/officialmcafee/status/935900326007328768

First more serious attempts to decentralize the witnesses was done nearly year ago. The progress has been slower than expected, but basically 2 witnesses with first year. I expect that Tony will keep 1 witness in the end, which means that 9 more witnesses to go, so that's basically 4 and half years more, but since you only need over half of the witnesses to collude to do some harm, we have 5 more witnesses to go when Tony will not have the majority anymore. That means 2 and half years to get total of 7 witnesses decentralized. Not near your 100+ year prediction, even if you start counting how many witnesses have been replaced since launch, you just pulled that number out of your a$$. https://medium.com/obyte/the-future-of-byteball-the-byteball-foundation-cca9d495bf46

Guess what else is not going to happen in 100 years? All Bitcoin will not be distributed in 100 years, but with next 12 years, it will be get pretty close to 21m.

Somebody started this Bittrex delisting rumor more than year ago, so where is it? Do you mean delisting from US market or both? Neither has happened, so why they should do it in 3 years when more and more witnesses get decentralized to different people.

my TA says bytes will drop below 0.0001 before the end of 2020  
my predictions based on fundamental analysis:
distribution of all witnesses will take 100+ years
the first non-fraudulent ICO will appear on the platform - never
bittrex delisting - 73% before 2020, 94% before 2021, 99.99% before 2022
best strategy - x100 short position. Level of risk - risk free

Last 24 hours, there are less than 1 Bitcoin-valued of Obyte traded, according to statistics from coinmarketcap.
From the latest peaks of Obyte, back in May 2018, the price of Obyte has lost around ten times, in GBYTE/BTC pair. Moreover, volume of the coin dies off over time.

Price chart in BTC

Price chart in USD

Source:
https://coinmarketcap.com/currencies/obyte/

It's good to see that some users understand what "fuk" has failed to understand, he just likes to FUD without actually learning anything new.

Somebody would say something like "centralized database" only if they don't understand how Obyte tech works.
Obyte doesn't have block producers like Bitcoin, Ethereum or EOS has. Anybody with full node can post a transaction straight to Obyte DAG, which is not the case for many mineable coins.
Witnesses are just like other full nodes, which follow the protocol rules, so none of the witnesses have a power to censor you. So how is that centralized?

Only part of the centralization is that not all witnesses have yet been given to independent reputable people/companies, so there is a possibility for the founder to collude at the moment, but that doesn't make any sense because all the full nodes would instantly know about it and it would kill the project, which again would make any sense for the founder to do.
But that doesn't mean that all the witness nodes are currently located in same machine and you can't verify that either because witnesses are hidden behind the TOR.

Obyte is even more decentralized full nodes than EOS, because each of the Obyte full nodes has full history of the DAG, while EOS has grown into terabytes with just one year, so few actually run the node with full history.

Here some more stats:
Over 100 full nodes around the world have connected to main hub. There are constantly around 200 wallets connect to that hub alone.
There are actually (stats page doesn't show all) around 7 hubs/relays (full nodes that accept incoming transactions), but each full node can communicate without accepting incoming connections too. This is the stats page for main hub and full nodes (some stats are hub specific and doesn't reflect stats about other hubs).
https://stats.obyte.org/worldmap.php

There is no single person who develops the platform and there are more than just one wallet (besides official wallet, there are also unofficial web wallet and BIoT testnet wallet for IoT devices).
There is not even just one explorer, there is explorer for just data too https://obyte.io/
Node.js is not even only environment you can write apps that use Obyte network, there is even JS library, which lets you connect to Obyte network from website front-end.

Okay, but that does not make this coin a scam. A scam would be something completely different in my eyes.
The problem is that decentralization alone does not change the world. Not every Bitcoin user has a copy of the blockchain. Heck, not even everyone has their coins in their own wallet and are in charge of the private keys.

But you could load a copy of the Blockchain or in this case a copy of the Obyte DAG. You are responsible for the decentralization. 
And supposing you are talking about the 12 witnesses, they do not mean centralization as far as i have understood the function of the witnesses.
Also, it is possible for you to convince users to use your node as witness. But you have to raise your stakes for that (give in your anonymity) as well as in Bitcoin (invest in hardware).

I think Obyte does have a use case. The wallet is super easy to use, available for every major OS and the chat bots could offer some amazing possibilities.
Also the lack of community that you are complaining about is something you said you want to achieve. So how shall the community grow (and erase one mistake that you see in Obyte) if you do not want that to happen? That's paradox.

I am sorry if you lost money during investment in this coin. Have you already realized the loss? Otherwise you could take actions that would help the value to increase and maybe even make some profit.

Additionally, there is a reason why people always say: Only invest the amount that you bear to lose.

You are not a hero in this thread who is saving people from buying, you are just butthurt because your own stupid decisions of buying high or selling low.
Half of your "facts" are not even true because you don't even have the basic skills or knowledge for fact-checking. I doubt you have ever even run a full node.
And that "96% of the value" is also totally pointless number, like there weren't other cryptocurrencies that went too high during bull-run and have now heavily corrected? This doesn't make them scams.

All in all, you don't even understand what scam means and you are just taking a dump on other peoples hard work.

Thank you and don't worry - there were several superheroes in this thread before you But I prefer doing my own research and make my own mistakes.