Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 649. (Read 1234317 times)
June 11, 2017, 02:26:46 AM
Looks like since last distribution, the byteball distribution favors strongly the GB holding instead of BTC holding. Maybe using BTC to buy some GB is a good deal.
June 11, 2017, 02:03:27 AM
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
Almost makes it not worth dealing in fiat at all...
The amount of hassle involved using fiat is going to be its downfall. And you shouldn't put into fiat that which you cannot afford to lose anyway. When you only have crypto, all of these problems disappear.
Of course, you need small amounts of fiat for daily life until more people start accepting crypto, but you can easily trade crypto for cash and use that.
YOu can of course use your coins to buy stuff, convert into cash using localbitcoins, etc.... But if you want to buy real state, a luxury car, or anything that is more than 3000€ (the legal limit for cash purchases) you need to use BANKING FIAT for that. And for any input into banking you need to pay taxes AND be able to prove its (legit) source.
Make multiple cash purchases on local bitcoins.
I know some people who even go to other countries in EU to get good deals on local bitcoins
Lot of opportunities not to fall into the traps set by banks
Hopefully soon banks are a thing of the past..
One more economic collapse and most banks will not survive I think
Yes, you can convert an almost unlimited ammount of coins into cash using localbitcoins. But that cash is USELESS to buy real state... or even a cheap car... or pay electricity, water supply, phone.. and basically anything that is paid by a bank account.
June 11, 2017, 02:00:11 AM
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
Almost makes it not worth dealing in fiat at all...
The amount of hassle involved using fiat is going to be its downfall. And you shouldn't put into fiat that which you cannot afford to lose anyway. When you only have crypto, all of these problems disappear.
Of course, you need small amounts of fiat for daily life until more people start accepting crypto, but you can easily trade crypto for cash and use that.
YOu can of course use your coins to buy stuff, convert into cash using localbitcoins, etc.... But if you want to buy real state, a luxury car, or anything that is more than 3000€ (the legal limit for cash purchases) you need to use BANKING FIAT for that. And for any input into banking you need to pay taxes AND be able to prove its (legit) source.
Make multiple cash purchases on local bitcoins.
I know some people who even go to other countries in EU to get good deals on local bitcoins
Lot of opportunities not to fall into the traps set by banks
Hopefully soon banks are a thing of the past..
One more economic collapse and most banks will not survive I think
June 11, 2017, 01:57:18 AM
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
Almost makes it not worth dealing in fiat at all...
The amount of hassle involved using fiat is going to be its downfall. And you shouldn't put into fiat that which you cannot afford to lose anyway. When you only have crypto, all of these problems disappear.
Of course, you need small amounts of fiat for daily life until more people start accepting crypto, but you can easily trade crypto for cash and use that.
YOu can of course use your coins to buy stuff, convert into cash using localbitcoins, etc.... But if you want to buy real state, a luxury car, or anything that is more than 3000€ (the legal limit for cash purchases) you need to use BANKING FIAT for that. And for any input into banking you need to pay taxes AND be able to prove its (legit) source IF a tax audit happens.
June 11, 2017, 01:52:52 AM
And you shouldn't put into fiat that which you cannot afford to lose anyway.
LISTEN TO THIS!! Best advice you will get
Knows what he is talking about
I see many asking how to convert BTC/Alts to $1 mil in bank, its so foolish to do that.
Convert $10k or $20k at once, if you need that for a week, or for a party or whatever and leave the rest in BTC
Dont announce to the world that you have bitcoins. Dont let anyone know what your altcoin investments are
keep it silent
June 11, 2017, 01:52:36 AM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
Audits up until maybe 20 years ago were almost exclusively done with paper so I think have a distributed digital ledger is only a nice to have. Any paper trail is going to stand up in an audit, especially since your holdings\purchases must eventually move in and out of KYC institutions, even for anonymous currencies.
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
In Spain you will most likely get a suspended sentence for money laundering. Very few go to prison for money laundering
Other places in EU its much more strict
Btw, anyone knows if blackbytes can be traded now?
Very good point. Most probably no prison but... all your money gone and in debt to the tax agency forever. No good either.
I don't know any echange that trades blackbytes. I have suggested someone makes a blackbytes trading bot the same as there is a Byteballs one.
June 11, 2017, 01:47:08 AM
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
Almost makes it not worth dealing in fiat at all...
The amount of hassle involved using fiat is going to be its downfall. And you shouldn't put into fiat that which you cannot afford to lose anyway. When you only have crypto, all of these problems disappear.
Of course, you need small amounts of fiat for daily life until more people start accepting crypto, but you can easily trade crypto for cash and use that.
June 11, 2017, 01:42:00 AM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
Audits up until maybe 20 years ago were almost exclusively done with paper so I think have a distributed digital ledger is only a nice to have. Any paper trail is going to stand up in an audit, especially since your holdings\purchases must eventually move in and out of KYC institutions, even for anonymous currencies.
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
In Spain you will most likely get a suspended sentence for money laundering. Very few go to prison for money laundering
Other places in EU its much more strict
Btw, anyone knows if blackbytes can be traded now?
June 11, 2017, 01:28:40 AM
The next round of distribution of detailed date, who can tell me thank you
You may look here for both next round countdown and the rool for it http://whatis.wikidot.com/get-gbyte
June 10, 2017, 10:30:35 PM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
Audits up until maybe 20 years ago were almost exclusively done with paper so I think have a distributed digital ledger is only a nice to have. Any paper trail is going to stand up in an audit, especially since your holdings\purchases must eventually move in and out of KYC institutions, even for anonymous currencies.
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....
June 10, 2017, 10:17:53 PM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
Audits up until maybe 20 years ago were almost exclusively done with paper so I think have a distributed digital ledger is only a nice to have. Any paper trail is going to stand up in an audit, especially since your holdings\purchases must eventually move in and out of KYC institutions, even for anonymous currencies.
June 10, 2017, 07:48:30 PM
ChatBot not working
June 10, 2017, 05:51:33 PM
Received my bytes and blackbytes, thanks!
June 10, 2017, 05:44:10 PM
Circulating Supply
255,492 GBYTE
Total Supply
1,000,000 GBYTE
Looks like only 60k was added.
255,492 GBYTE
Total Supply
1,000,000 GBYTE
Looks like only 60k was added.
June 10, 2017, 04:54:39 PM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
June 10, 2017, 04:47:30 PM
[...]Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
That entirely depends on the use case. Bitcoin and Monero for example happily coexist, they complement each other.
June 10, 2017, 04:44:43 PM
I have to thank for the free coins. I will hold them.
I have some suggestions though:
- Transition bot should display the total of BTC linked. That way it would be easier for people with funds in multiple addresses to check if all the addresses with funds in a wallet have correctly linked. It would be a 10 min code change.
- It could also give an estimation of how many coins will be received in next airdrop. I don't need it as it is very easy to calculate, but after seing the huge amount of post just asking that it would be better if transition bot informed them about that too. A couple of minutes code change if the previous item is already implemented.
- I have seen there's a Byteball trading bot.... Good. But I think a Blackbytes trading bot, considering there's no exchange right now trading them, will be much more useful atm.
Again, thanks.
I have some suggestions though:
- Transition bot should display the total of BTC linked. That way it would be easier for people with funds in multiple addresses to check if all the addresses with funds in a wallet have correctly linked. It would be a 10 min code change.
- It could also give an estimation of how many coins will be received in next airdrop. I don't need it as it is very easy to calculate, but after seing the huge amount of post just asking that it would be better if transition bot informed them about that too. A couple of minutes code change if the previous item is already implemented.
- I have seen there's a Byteball trading bot.... Good. But I think a Blackbytes trading bot, considering there's no exchange right now trading them, will be much more useful atm.
Again, thanks.
June 10, 2017, 04:34:52 PM
I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
June 10, 2017, 04:34:02 PM
For all the doubters, I confirm receipt of my 6th round (both bytes and black bytes).
Will post a video of making a bytes payment and a black bytes payment soon.
Will post a video of making a bytes payment and a black bytes payment soon.
June 10, 2017, 04:30:29 PM
Do you think the dump after the last distribution round is over?
It appears as if it is done. Still could go up or down though.
Looking at history, it's the standard quick dump all the takers make in a race to get as much free coin (converted to whatever) as they can.
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