Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 45. (Read 1234317 times)

bull run - eth #2 , gbyte #40. Eth millions dollars of liquidity. Obyte millions dollars of liquidity.
bear market - eth #2, gbyte #140. Eth millions dollars of liquidity. Obyte few thousands dollars of liquidity, sometimes just few hundreds.
yep almost the same bro

What I actually want you to concentrate on is the same pattern of price charts between Ethereum, Dash, Litecoin, and OByte, it means the Obyte coin might witness same journey as three other coins went. Currently Obyte has stood at $45 (a bit higher than $45), that is very cheap.
https://coinmarketcap.com/currencies/obyte/

we can easily see that what happened with Obyte is almost the same what happened with Ethereum

He probably figured it from their own description in their post. I think it makes sense.
It's not a blockchain, it's a DAG and I'm not sure if they can even "fork" the way a blockchain would.
As to how they would airdrop, I suppose they can make a list of all addresses and balances on a specific date and then use a script to create transactions of equivalent amounts to the same addresses in their new DAG

How do you know? Haven't seen any code and if it's not a fork of chain, how do they airdrop the coins if it doesn't have the same UTXOs? Is there going to be some bot on Obyte, where I can sign some message like it was with Bitcoin airdrop? Many loose things yet unknown.

How do you know? Haven't seen any code and if it's not a fork of chain, how do they airdrop the coins if it doesn't have the same UTXOs? Is there going to be some bot on Obyte, where I can sign some message like it was with Bitcoin airdrop? Many loose things yet unknown.

obc is fork of code, not fork of chain. There will not be this issue. It's a separate coin with own genesis

I think Obyte has replay-protection built-in by default if the fork is implemented properly, but we have to see.

True. But to the misguided fanboys of Obyte, Obyte Cash is not a threat. The best DAG devs are here. Other devs are working on applying second layer services on top of the Obyte network. "Imitation is the greatest form of flattery."

smells like evolution to me. survival of the fittest and most popular. if in doubt go alpha. i think for any cryptocurrency to gain some traction it needs followers, users, devs, usecases etc. to make sense in the cryptoworld.
forks and knives can't be avoided. but st. toshi had this in mind when releasing the code "open source".
the only true coin is bitcoin

I'm referring to the EU eIDAS regulations: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2014.257.01.0073.01.ENG


All in all:

1. Only a qualified electronic signature has the same legal effect in EU as a handwritten signature.
2. Qualified electronic signature requires a qualified certificate issued by a qualified trust service provider which has to be put on the list by the EU Member State.

None of this is the case with Obyte which means that it's signatures are not legally binding.

Article 25

2) A qualified electronic signature shall have the equivalent legal effect of a handwritten signature.

Article 3

(12) ‘qualified electronic signature’ means an advanced electronic signature that is created by a qualified electronic
signature creation device, and which is based on a qualified certificate for electronic signatures;

(15) ‘qualified certificate for electronic signature’ means a certificate for electronic signatures, that is issued by a qualified trust service provider and meets the requirements laid down in Annex I;

Article 22
Trusted lists
1.  Each Member State shall establish, maintain and publish trusted lists, including information related to the qualified trust service providers for which it is responsible, together with information related to the qualified trust services provided by them.

Identification is not certification. You don't know what you are talking about, not me. My advise is for the Obyte development team to take legal consulting before spending months if not years on developing features that are supposed to work within the real world and legal system. And that's what this whole dead-end real ID Obyte feature is now. Waste of time and effort and the end result is devoid of any applicable significance.

The Obyte development is turned on its head. You develop features without anybody being interested in using it. You've got so many features already that nobody is using and you keep developing new ones which nobody will use.

The right way to do it:

1. Find a real world problem that you can solve with Obyte platform.
2. Find a real world company/platform/or anybody interested in implementing your solution to the real problem.
3. Take legal consulting if this will actually work.
4. Sign an agreement with the interested party.
5. Develop the feature.
6. Implement the feature.

This works until it doesn't. And then not so funny things happen:


See? The judge apparently is so ignorant as me. Or is this e-signing not so sure as you might think.

With Obyte wallet where the password is not mandatory it's just laughable.
 you have
If you read the article carefully you will find that in EU for e-signature to be valid and not dismissed by court:


There's no certification process of validity in Obyte so claiming that:


is equally laughable.

Added ability to create and sign classic (prosaic, not smart) contracts.

Full story https://medium.com/obyte/introducing-prosaic-contracts-5d3564638a20

US Court Rejects DocuSign E-Signatures as method to provide Digital Authorization

An important point is that when the attorney was asked to prove that the e-signature belonged to the legitimate signer, it was shown that it was not possible because the DocuSign e-signature is generated by just a ‘click to sign’ button. There is no guarantee who clicks on the button and the declared name by itself (the area where the signer enters their name) is just a placeholder that can be filled by anybody.

https://www.cryptomathic.com/news-events/blog/us-court-rejects-docusign-e-signatures-as-method-to-provide-digital-authorization

"users must be positively identified and certified as being the individual they claim to be before they can issue an e-signature above the simple electronic signature level."

"even Obyte announcement says that prosaic contracts satisfy all 4 requirements of “advanced electronic signature” under Article 26 of eIDAS in EU"

It sounds cool but it's not enforceable not only on DAG but in reality too. There's no law that recognizes "real ID verification" on Obyte and digital cryptographic signatures as equivalent to handwritten signature on paper. As long as the law does not change this feature is just a toy with no real world application.

Funny thing: how can anyone be sure that anything signed on Obyte platform (including signatures from real world verified IDs) have been performed by the person that owns the ID? It may well be my girlfriend that took to my laptop when I was in a bathroom and forgot to lock the screen with Obyte wallet left open (password is still optional in Obyte wallet, right? Ooops.) That's the problem with digital signatures. Handwritten signature is oldschool but at least nobody can do it for me.

Otherwise it would have already been implemented in different ways in many industries. But it didn't. Human notaries are fine and will be for a very long time.

Or how about dead people? Who will terminate their verified ID's on Obyte when they die? Nobody? So anyone who has password and a wallet of a dead person can still sign anything as if that person is still alive?

How about lost/stolen/hacked wallets? How anybody can terminate their own verified ID on Obyte when somebody looses password/wallet/ or is hacked etc.? Will Obyte have some kind of customer service 24/7 hotline to terminate compromised IDs?