I'd vote for upping the dev fund, as it benefits all.
Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 759. (Read 1234271 times)
April 27, 2017, 06:43:34 AM
April 27, 2017, 06:40:54 AM
Now what about a dev fund? I don't think that the 1% is apart of a dev fund and I don't think it should be, if Tony builds this up he deserves that 1% as his reward for building this system.
Tony distributes 98%, keeps 1%, and that leaves 1% remaining. I assume that is for future developments.- 98% of all bytes and blackbytes (the private untraceable currency) will be distributed among bitcoin holders who link their bitcoin and byteball addresses before any of the distribution rounds. No investment required, you keep your bitcoins, plus receive the bytes and blackbytes. See below how to receive the coins.
- 1% I reserve for myself
What strikes me as a bit weird is that some rich Bitcoin-holders get more than Tony himself, just for linking an address. For example: http://transition.byteball.org/ shows an address with 9992.30838103 Bitcoin balance, it gets 7.3304 % of all bytes. More than 7 times more than the developer gets for doing all the work.
This doesn't really fit Tony's idea:
Quote
I want Byteball to be in the hands of as many people as possible
Unfortunately, I can't think of any way to prevent this. Limiting the maximum balance doesn't help, the Bitcoins could just as easily be spread out over multiple addresses.Quote
I vote that an extra 1% or even 2% of the currency is withheld for the sole purposes of development outside of Tony's contributions.
This would be for other developers/bounties/etc. that Tony leads.
Basically that turns Tony into an employer/CEO. Would that be something he wants?This would be for other developers/bounties/etc. that Tony leads.
Quote
The fund would allow Tony to eventually start getting more people on board.
You do have a point here. If I search on Google: "who pays Bitcoin developers", the first hit I get says "Funding Bitcoin development seems to have always been problematic".If Byteball can prevent this by reducing the community's share from 98 to 97%, I'd say go for it!
April 27, 2017, 06:14:29 AM
Correct me if I am wrong.
I understand that 1% if the currency has been held back by Tony as part of his investment for building Byteball and I totally 100% agree with that.
Now what about a dev fund? I don't think that the 1% is apart of a dev fund and I don't think it should be, if Tony builds this up he deserves that 1% as his reward for building this system.
However, Byteball should have a dev fund for the purposes of hiring more developers over the next 10 years, rewarding contributors, bug bounties etc..
I think this is something that the community could vote for.
I vote that an extra 1% or even 2% of the currency is withheld for the sole purposes of development outside of Tony's contributions.
This would be for other developers/bounties/etc. that Tony leads.
What is the communities opinion on this?
If successful it would take the total premine up to 2% or maybe maximum 3%, still far lower than most premines and ICO's.
The fund would allow Tony to eventually start getting more people on board.
It's not an issue now but imagine in 2 years and Byteball is worth $1 billion USD and being used by actual businesses and people.
He will need more than himself working on this project.
This is just my opinion feel free to tell me it's shit if you want.
I understand that 1% if the currency has been held back by Tony as part of his investment for building Byteball and I totally 100% agree with that.
Now what about a dev fund? I don't think that the 1% is apart of a dev fund and I don't think it should be, if Tony builds this up he deserves that 1% as his reward for building this system.
However, Byteball should have a dev fund for the purposes of hiring more developers over the next 10 years, rewarding contributors, bug bounties etc..
I think this is something that the community could vote for.
I vote that an extra 1% or even 2% of the currency is withheld for the sole purposes of development outside of Tony's contributions.
This would be for other developers/bounties/etc. that Tony leads.
What is the communities opinion on this?
If successful it would take the total premine up to 2% or maybe maximum 3%, still far lower than most premines and ICO's.
The fund would allow Tony to eventually start getting more people on board.
It's not an issue now but imagine in 2 years and Byteball is worth $1 billion USD and being used by actual businesses and people.
He will need more than himself working on this project.
This is just my opinion feel free to tell me it's shit if you want.
April 27, 2017, 06:03:44 AM
byteball should have a 50M marketcap in 3 month.
Right now it's market cap is four times lower than IOTA, a coin with different goals but similar technology, just to put that in perspective.
April 27, 2017, 05:43:04 AM
what is it?
It was an attempt to double-spend (or to post a non-serial unit, to be accurate).
April 27, 2017, 05:40:43 AM
The flight oracle is run by tonych so there is too much incentive for him not to lie, and he has very much already earned street cred.
Most oracles should not be anonymous though, unless you think shady deals.
Most oracles should not be anonymous though, unless you think shady deals.
How reliable is this oracle? If it doesn't report the information in time, can we see that it indeed has crashed and hasn't been just switched off to not report the outcome which would lead to money loss for its operator? Without reliability usage of such oracle is like playing in online casino which can say "Oops, we can't decide if you have won or lost" any time when you would win.
oracle should have some secure deposit based on game theory.
Oracles (same as witnesses) are non-anonymous and they stand to lose something in case they misbehave. This can be called a form of security deposit.
April 27, 2017, 05:26:17 AM
I don't know how to receive blackbyteball. I don't know how to operate my byteball address
I hope my warm-hearted friends tell me
I hope my warm-hearted friends tell me
April 27, 2017, 04:31:13 AM
byteball should have a 50M marketcap in 3 month.
April 27, 2017, 03:45:29 AM
casper goes a little far away, but for a decentralized network, it's hard to find a way to restraint nodes behavior.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
Well, this aligns with my opinion that it's not that simple - just add oracle functionality and it will fly. John Nash left heritage which should definitely be used.
Deposit is the easiest approach to prevent cheat
SchellingCoin and truthcoin and Town Crier have different approachs through software and hardware to achieve the oracle network.
April 27, 2017, 03:44:06 AM
Byteball.fr is an alternative hub (paired with master byteball.org) and community witness operated on a 300Mbps unmetered link.
To get efficient communication, faster wallet sync and to support our community-driven Witness:
In your wallet settings hub set byteball.fr/bb
To get efficient communication, faster wallet sync and to support our community-driven Witness:
In your wallet settings hub set byteball.fr/bb
Heps guys! We need more support for our witness! Thx
please tell me why you need us to change the settings in the wallet. what will change for you?
To the short term: If you "adopt" our witness by pointing your wallet to byteball.fr/bb it will help us to cover the witnessing fee (witnesses post serialy all day long and pay for that too).
To the long term: our goal is to get our community witness among the 12 most adopted.
... and what it will change for you: Nothing except byteball.fr will become your home post-office for your messaging activities (a hub is a relay + messaging)
Thanks for your question and hopefully your support!
April 27, 2017, 03:26:49 AM
casper goes a little far away, but for a decentralized network, it's hard to find a way to restraint nodes behavior.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
Well, this aligns with my opinion that it's not that simple - just add oracle functionality and it will fly. John Nash left heritage which should definitely be used.
April 27, 2017, 03:20:09 AM
what is it?
April 27, 2017, 03:16:54 AM
oracle should have some secure deposit based on game theory.
Ethereum is planning to do so in Casper, interesting, if Byteball uses this anti-cheat measure.
casper goes a little far away, but for a decentralized network, it's hard to find a way to restraint nodes behavior.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
metropolis will come first.
here is a good article:
http://www.coindesk.com/whats-to-do-before-ethereum-enters-its-third-metropolis-stage/
Ethereum is a hype right now, no one really using the smart contract function right now(maybe in the future)
people are using Ethereum as the world biggest crowdfunding platform.
also all the nodes are running the same contract just to get the consensus...
that's not the future of blockchain.
April 27, 2017, 03:13:49 AM
oracle should have some secure deposit based on game theory.
Ethereum is planning to do so in Casper, interesting, if Byteball uses this anti-cheat measure.
casper goes a little far away, but for a decentralized network, it's hard to find a way to restraint nodes behavior.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
metropolis will come first.
here is a good article:
http://www.coindesk.com/whats-to-do-before-ethereum-enters-its-third-metropolis-stage/
April 27, 2017, 03:10:00 AM
oracle should have some secure deposit based on game theory.
Ethereum is planning to do so in Casper, interesting, if Byteball uses this anti-cheat measure.
casper goes a little far away, but for a decentralized network, it's hard to find a way to restraint nodes behavior.
bitcoin only use reward structure for good nodes, no punishment for bad nodes.
April 27, 2017, 03:05:25 AM
Byteball.fr is an alternative hub (paired with master byteball.org) and community witness operated on a 300Mbps unmetered link.
To get efficient communication, faster wallet sync and to support our community-driven Witness:
In your wallet settings hub set byteball.fr/bb
To get efficient communication, faster wallet sync and to support our community-driven Witness:
In your wallet settings hub set byteball.fr/bb
Heps guys! We need more support for our witness! Thx
do you know how many people moved their byteball?
April 27, 2017, 03:02:33 AM
oracle should have some secure deposit based on game theory.
Ethereum is planning to do so in Casper, interesting, if Byteball uses this anti-cheat measure.
April 27, 2017, 02:57:02 AM
Dear hodlers,
The time has come to put your bytes into real use.
We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.
Starting today, you can use your bytes to buy or sell insurance against flight delay.
Some of you might be going to fly in the near future. Buy insurance from peers and get paid if your flight is delayed.
If you are selling insurance, you have opportunity to make a profit, thus earning interest on your holdings (with correct risk management, of course!).
Before buying/selling, learn stats about your flight to estimate the probability of delay and decide how much you are willing to pay (if buying) or ask (if selling). Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com
Then post your offer in #p2p_insurance channel on our slack.
I'm going to fly to Dalaman (Turkey) via Istambul, and to get this market going, I ask you to insure my flights:
TK420 on Apr 30
TK2554 on Apr 30
TK2561 on May 9
TK413 on May 10
I'm willing to pay 10% for insurance against delay of 15 minutes or more, or 5% for insurance against delay of 30 minutes or more (I didn't actually research the stats and don't know how fair these premiums are, but a disbalance of supply and demand will tell me if I'm wrong). Each flight is a separate contract, and I'll be more than happy to buy from different sellers.
The time has come to put your bytes into real use.
We are launching P2P insurance on smart contracts https://medium.com/byteball/making-p2p-great-again-episode-iv-p2p-insurance-cbbd1e59d527.
Starting today, you can use your bytes to buy or sell insurance against flight delay.
Some of you might be going to fly in the near future. Buy insurance from peers and get paid if your flight is delayed.
If you are selling insurance, you have opportunity to make a profit, thus earning interest on your holdings (with correct risk management, of course!).
Before buying/selling, learn stats about your flight to estimate the probability of delay and decide how much you are willing to pay (if buying) or ask (if selling). Some useful resources:
http://www.flightstats.com
http://flightaware.com/
https://www.flightradar24.com
Then post your offer in #p2p_insurance channel on our slack.
I'm going to fly to Dalaman (Turkey) via Istambul, and to get this market going, I ask you to insure my flights:
TK420 on Apr 30
TK2554 on Apr 30
TK2561 on May 9
TK413 on May 10
I'm willing to pay 10% for insurance against delay of 15 minutes or more, or 5% for insurance against delay of 30 minutes or more (I didn't actually research the stats and don't know how fair these premiums are, but a disbalance of supply and demand will tell me if I'm wrong). Each flight is a separate contract, and I'll be more than happy to buy from different sellers.
thanks for the updates, that's a good business and usecase.
April 27, 2017, 02:56:30 AM
The flight oracle is run by tonych so there is too much incentive for him not to lie, and he has very much already earned street cred.
Most oracles should not be anonymous though, unless you think shady deals.
Most oracles should not be anonymous though, unless you think shady deals.
How reliable is this oracle? If it doesn't report the information in time, can we see that it indeed has crashed and hasn't been just switched off to not report the outcome which would lead to money loss for its operator? Without reliability usage of such oracle is like playing in online casino which can say "Oops, we can't decide if you have won or lost" any time when you would win.
oracle should have some secure deposit based on game theory.
April 27, 2017, 02:48:18 AM
The flight oracle is run by tonych so there is too much incentive for him not to lie, and he has very much already earned street cred.
Most oracles should not be anonymous though, unless you think shady deals.
Most oracles should not be anonymous though, unless you think shady deals.
How reliable is this oracle? If it doesn't report the information in time, can we see that it indeed has crashed and hasn't been just switched off to not report the outcome which would lead to money loss for its operator? Without reliability usage of such oracle is like playing in online casino which can say "Oops, we can't decide if you have won or lost" any time when you would win.
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