Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 66. (Read 1234271 times)

why such a low price on GBB?Is it possible to start trading GBB on a regular stock exchange?

...and you created an accont here just ten days ago just to state this ....

It doesn't make much sense

interesting would be to know, what is the status of your current project?

"Bytes price equal to 31.491 USD at 2018-12-21, but your current investment may be devalued in the future."
https://walletinvestor.com/forecast/byteball-bytes-prediction

The existing methods contribute very little to an increase in the spread, they tend to have the opposite effect.

Market laws are still ignored.

Can you give any reference, which "laws of statistics" are you talking about? Formula would be nice, but link to any scientific paper would be better.

And what do you consider whale? http://draw.byteball.org/ considers whale somebody who have more than 500GB, so only 45% are considered whales (that was 70-80% during first draw), this makes it very likely that next winner is not a whale.

First draw is irrelevant today because it had different rules than are today. Blog post doesn't say that future winners will be whales as well, it says:

It doesn't say it, but rules were changed for un-attested whales too, previously it was 0.1 points per GB, but was changed to 0.01 points per GB after first draw.

I've been a skeptic from the very beginning regarding the new distibution method by the way of a lottery, and today I've noticed that the team has become aware too of the fact that there are problems in this method of distribution. This is their post on Medium:

https://medium.com/byteball/distribution-methods-revisited-we-need-you-b0a38800b722

The laws of statistics make it obvious that most of the bytes to be distributed would end up in the bags of whales. The first winner has been a whale and with the current rules most of the future winners would likely to be whales as well. Simple math. Glad to see that the team has realized that. This would obviously cause even more centralisation of the coin, not more decentralisation.
One of the problems of Byteball distribution has always been that it was not designed to favour decentralisation, as it claimed to aim at, but at the creation of whales. I have addressed this problem as early as May 2017 in this very thread, for example in this post of mine:

https://bitcointalksearch.org/topic/m.19154657

...but alas I was not listened to, and people even accused me of hating the rich or whatever, totally missing my point. This has led to the creation of mega-whales who possibly couldn't care less about Byteball, perhaps because the devs of concurrent platforms, and this problem is now here to stay since they have the power to crash the price at will. It will probably take ages to get this fact out of the way.
However I'm happy to see that the team is now finally realizing their mistakes quite rapidly and they are asking advise to the community. Right now I don't have a solution to suggest for a better distribution, but someone else may.

Hey! Contest to create a byteball bot! Details: https://steemit.com/byteball/@byteball.org/introducing-the-great-byteball-bot-war

I really don't understand this either, what's there to gain? Does this guy prefer Reddit over Bitcointalk and does not want to be interacting here? Very strange.

Every few days the same lame message from you, absolutely meaningless and unnecessary. Tony posted here just a few days ago.

Byteball team and community no longer post on this thread, too much signature comment spam, they use reddit etc https://www.reddit.com/r/ByteBall/comments/9yfbvt/i_am_tony_byteball_founder_and_lead_developer_ask/ 

forward

any new direction for this project?

A (supposedly) decentralized currency with important but centralized applications.
Does anyone else notice that something smells awfully here? - No, I don't think so. As long as there are free balls, no matter if they are worth something. 

Freebe and luckybytes close end of the year

which exchanges for blackbytes are left?

Heyy good to see byteball getting some attention. Solid currency here

You probably haven't heard about it because you have not signed up to newsletter and because this ANN thread has turned into nonsensical discussion board, all the important stuff gets buried quickly with arguments whether some new distribution is fair or not. On Reddit, it's bit better to follow what is going on https://www.reddit.com/r/ByteBall/

Latest newsletter about rebranding
https://medium.com/@byteballjesus/read-the-latest-byteball-email-newsletter-fun-new-distribution-bd9198692a82
https://steemit.com/byteball/@byteball.org/the-latest-byteball-email-newsletter-fun-new-distribution-and-branding-update

As soon as the rebranding comes it would be nice to have a parallel Rebranded-Byteball ANN thread which is strictly self-moderated so as to keep all nonsensical discussions out and have actually a cognitive value there. Nonsensical posts can then continue to be posted here, without the risk of getting spoiled by some occasional clever post.

What is the point of giving the bytes proportionately how much they already have? There is 21% left to distribute, what is the point if all that gets distributed to existing addresses.

Point of draw bot distribution is that everybody has chance to win without any risk (you don't have to buy a lottery ticket). Winner of first week draw was long time loyal hodler, I didn't notice that address spending any bytes and they had done real name attestation back in January, just 4 days after announcing real name attestation bot. Most likely they started using Byteball even earlier and got that much bytes with Bitcoin moondrops.

It is kind of funny, you are here on Bitcointalk saying that draw bot favors poor accounts and somebody on Reddit is arguing that it favors whales. It's true that first draw favored whales, but the rules changed right after first winner was announced and it should be more fair for both now. Let's see who gets randomly picked on 21st.

1. If I have 1000 wallets with 1 GB on it, it should give me obviously the same amount of points as if I have 1 wallet with 1000 GB on it. Easy mathematics, no ?
If you refer to the real-name attestation and the complicated point system, it needs to be removed as their is no need to have it anyway.

2. Its cleary a punishing of loyal and over the time, Byteball accumulating people as the motivation is to reward only users with low amount of Byteballs or user which will cheat the system creating various real-name attestations.

1. You have been so long here and yet you still haven't figured out that 1 un-attested address is not as same as 1 participant? Any un-attested user could create as many wallets as they like. If I generate 1000 wallets and you only 1 and there is no way to tell the difference then obviously I get 1000 times more rewards than you if the distribution is distributed based on participants.

2. Nobody is punished, you are not required to pay anything to participate in the draw, but being attested helps. The goal is to give both fair chance to win even when one is clearly richer than other and even when one found out about Byteball earlier than the other. In real life, in order to participate in lottery, the richest people have the highest chance to win with the lottery because they can buy lot more lottery tickets than poor. But rich people are usually rich because they don't play lottery because the know that odds are bad, Byteball Draw is not a lottery because there is no participation fee, so you cannot lose, you can only win if you are lucky.