Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 863. (Read 1234271 times)

 cryptkeeper
Tony doesn't like to sell promises and as this project is not an ICO, there are no investors who he must satisfy. He will deliver solid development,new features will be delivered when they are ready to use, no hype, no false expectations or missed deadlines.
Posted in #generalFeb 22nd at 11:19 PM

This is not normal. Your cpu and disk usage should normally be high during sync.  If it is not, something is wrong, a restart usually helps.

You don't need to sync the 2nd PC before moving.  As far as I understand, you already have a fully synced wallet on the 1st PC and since you are doing full backup that contains the entire database, you'll get a fully synced wallet after restore.  The old data on the 2nd PC will be deleted during restore anyway.

thanks!

3rd Distribution round is on 12 March, Full Moon 

When next FREE distribution?

I think the question must be answered by of each itself:

There are only 12% of the Bytes in circulation and people keep them tight because of the compound interest.
If the growth (linked to BTC + interest rate) remains constant (every round +50k linked BTC), we still need 19 rounds.
If you invest 10 GBytes (~0.45 BTC) you have after 19 rounds 10GB*(1+10/100)^19 = 61.15 GBytes.
Maybe we need 10 rounds more: 10*(1+10/100)^29 = 159 GBytes.
The compound interest works very strong - very strong argument to hold.

If you invest 0.45 BTC for the next (maybe 19) rounds, and the price remains constant (at 0.045 BTC/GB total capitalization ~54 Mio.).
You will have a profit:  0.45 BTC*61.1 Gbytes/ 10 Gbytes => (2.75 BTC–0.45 BTC)/0.45 BTC => 512%. With each additional round (see exponent) it becomes more.

The crucial question, however, is how far can the price drop until I lose?
We bought at a price of 0.045 BTC/GByte (10 Gbyte).
Therefore, we can endure 0.45 BTC /61.1 GBytes = 0.0074 BTC/GByte.
(If we sell our 61.1 GB then 0.0074 BTC/GByte * 61.1 Gbyte = 0.45 BTC we get our bet back.)

Question: 0.0074 BTC/GByte which capitalization is this?
It’s 0.0074 BTC/GByte * 1E15/1E9 => 0.0074 BTC/GByte * 1E6 GByte = 7400 BTC or ~7400BTC *1200$/BTC = 8.8 Mio $

You can still match the Dev! (tony holds 1%):
price ~76 BTC ~1.7 TByte*1,1^19=10 TByte -> 1% of total capitalisation

or with lower budget:
1/10 price 7.6 BTC ~0.17 TByte (170 GByte) -> 0.1% of total capitalisation
1/100 price 0.76 BTC 0.017 TByte (17 GByte) -> 0.01% of total capitalisation
1/1000 price 0.076 BTC 0.0017 TByte (1.7 GByte) -> 0.001% of total capitalisation

For those who have participated in the 1st and / or 2nd round and / or which additionally connect BTCs (got Bytes for free), the above calculations looks even better.

Classic BTC holders: They link her BTC and sleep (like Kostolany:”.. buy
shares and take some sleepingpills: when you wake up, you've made money" will have) - lazy people (sometimes to lazy to link  ).
Nowhere is there such an interest (without any risk) for the BTCs.
And they will receive a free diversification (and a technology upgrade) of their portfolio: A very good idea, because that is already a trend:
 


Good to have at least two horses in the barn (A hopeful foal and an old horse).

There is much to win, but little to lose, so people do not sell…
For the vast majority of holders, there is simply no reason to sell (1st round participants are believers, ICO's already hold because of diversification, BTC whales ditto -They ride the old horse and lead the foal next to it).

A sale makes sense only if one likes monocultures (only BTC). Or you would like to get your investment (bought bytes) back in order to minimize the risks..
10GB*(1+10/100)^10 = 25.9-10=15.9 -> 15.9*1,1^9=37.6 Gbytes   

… Then there are also our black friends (BB) ..
perfect for small investors with a small money bag… You can exchange half of your earning in blackbytes..

It is the philosophy of this distribution to allow as many adopters as possible a (as far as possible risk-free) access (to Bytes / Blackbytes).

disclaimer
The author does not force you to invest now or to by BTCs now. There may also be more favorable times.. No idea!

maybe the dev and holders should consider a few diiferent ways to spread the remaining amount of bytes.

reason – protection for current holders from possible price dump caused by an increase of the total supply.

bottom line:

from the last spreading round total amount rise == 17 % and reward for storage == 10 %.

so why not to equalize the percentage?

The PC I'm moving my wallet to has never had any version of byteball software, so I'm syncing from scratch. It took about 12 hours to get to 69% and then it was stuck on 69% for about five hours. At this point, I closed the wallet and re-opened to see if it would help get me over this 69% hump. The wallet is back at 69% and it's been stuck for approximately six hours. Is this normal for a new install?
 
The PC I've been using since the initial 12/25 distro never became stuck at any point while syncing. Although, I was opening my wallet daily, since 12/25, so it may have never got stuck because I was syncing regularly.

Any insight would be appreciated

If you knew AnonyMint (+dozen of other names) you would take his words with a grain of salt...

Just a quick question for tonych and any of you guys here do you see blackbytes as a legitimate way to transfer value in the dark market setting?  I'm not advocating that just interested in getting input on that since TOR is being implemented and since blackbytes are peer to peer the long term value would come from places that arent exchanges.

100% false. there is no connection to bitshares & steem with byteball 

No, you don't, you can move it half-synced.

False statement.

You can't change a linked address, but you can add a new Bitcoin one linked to the same Byteball address. To link a specific Byteball address to a specific Bitcoin address, chat with the bot, enter your BB address, then your BTC address, the bot will wait for the signature, once you enter it, it should be okay. Chat with the bot again to see if it lists your new links and verify it on transition.byteball.org.

You're absolutely right. I also think that when 80% coins are distributed then Poloneix will list it on its platform 

how do i change the btc address linked to an existing byteball address i used in the 2nd distribution? my coins have moved to a new address i would rather just sign a message when participating in the 3rd round.

Hi everybody,

don't you find that byteball is way to expensive? Not as expensive as Zcash, but quite expensive. Do you think that the price will go up at the begining? I think that there is no place to multiply an investment.

Failure of Bitshares is based on broken promise by lead dev Dan, Bytemaster, now Dantheman. He left Bitshares. After that he start Steem with 80% premined coins.

https://bitcointalksearch.org/topic/m.17950428

....When I discussed this in the Byteball thread, the Byteball author Anthony realized there is a problem and started to talk about avoidance of needing to replace witnesses and how to have a community wide vote and other mechanisms for overcoming the inherent flaw (which means really he will end up needing whales same as for DPoS to avoid chaos so then you are right back to centralization and the failure of Bitshares and Steem again).....@tonych

Me too,  I don't give two hoots about bytes. I've amassed 1terabyte of blackbytes it's going to be potential fomo tsunami when blackbyte usage and apps appear.