Can somebody clarify the questions raised in this reddit thread?
https://www.reddit.com/r/ByteBall/comments/733eoj/can_someone_explain_this_discrepancy/In short, the byteball website claims that 100,000 GBYTEs were distributed in the first round, when in practice only 50,000 were.
the website clearly says that 70,000 BTC were linked in the first round, and the exchange rate in the first round was 0.7066. This yields 70,663*.7066 = 49,930 GBYTEs distributed to bitcoin holders.
however their website also says that 10% of overall supply was distributed in the first round. but if there's a million gbytes to be handed out, 10% is 100,000. that leaves 50,000 unaccounted for. they clearly were not, by byteball.org's own numbers, handed out to the public.
something is amiss here and I think it deserves immediate clarification. if the team is holding back 5% instead of 2% as claimed on the bitcointalk announcement, the community should be made aware.
It looks like a case of incorrect math to calculate the distribution rate in the first round; is that the case?
Yes, the calculations in that reddit post are incorrect. The rate for the first round was (rounded to simplify), for each 0.7 BTC, you get 1 GB, so for the over 70,000 BTC linked, 70,000/0.7 = 100,000 GB were distributed. Actually that rate was a consequence of the linked BTC, I mean that the rule was "distribution of 10%", given the fact over 70,000 BTC was linked, that simply gave the rate of 0.7 BTC/GB or 1.42 GB/BTC.
The transition page for the first round can be found here
http://transition.byteball.org/firstround.html, if you want more details about the addresses that were linked.
