Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 902. (Read 1234285 times)

superrestiant, as an Nxt-Initial-Investor and IOTA-ICO-Investor, aren't you now a Bitcoin-Whale as well?

I turned off the witness I had running because it did not have enough funds to continue stamping transactions. 

@tonych was this supposed to work this way, when running a witness, if other people dont choose it in their walets, it will eventually run out of funds to continue posting?

This is great to hear, more bytes for us small fish. 

Indeed, you would have received 5*1.4 GBs=7GBs, which at todays price 0.08 would be worth 0.56BTC which is $582 if you had done this on the first round.

What you link now and if you keep the bytes, you will have 10% on the bytes, for every future round on all the bytes you hold, and the average BTC linked address ratio to bytes will change down.

If you have today 1GB, after 11 distribution rounds will grow to be 2.85GB.

Let's say yes .


What also might be worth it, would be to buy GB instead. Of course there's more risk involved as you would invest your BTC instead of just linking it.

If you need this amount of money, sell it right away. If you don't, just keep it and forget about it.


True, that's exactly what all the Bitcoin whales that I know told me.
They don't want to mess up their cold wallet for a little dividend. Plus there are risks involving moving their BTC to a hot wallet, making transaction and installing a third party application they don't fully trust.
The risk/reward is not worth it for them.


I can tell they like to ski in French Alps at this time of the year.

So if I'd bother to sell some alts in order to link say 5 BTC I'd get 312,5 MB (0.31 GB). This would be currently worth...0.024 BTC (~$24). Correct? Quite a modest amount but perhaps it might be worth it.

For every one BTC you link you get 62.5 MB
For every 10 byte you already have you get 1 byte.

Probably (didn't try that myself), I'll advise you to go to Slack and ask in the channel #tech.


Install the node.js package. For instance, on Ubuntu, the package is named nodejs, to install it:


I would assume the same goes for raspberrypi.



Or click on clone or download and then download zip.

Thank you guys for the explanation, appreciate your time and assistance. Now I will know that for sure. I guess I will have more stupid questions later on   and it's good that other members can help.  

I admit that: The marked part is polemical  You are right it is a best-case scenario. I'm just an optimist.
To fairness one should then also name the worst-case scenario: ~20 rounds of distribution - some would also make this very happy.

Important for investments is that you can live with each scenario (the optimal never occurs anyway).


My thoughts to it:
1.   Yes, it is a problem to move larger amounts of BTC. This can / will have a limiting effect.On the other hand, the ICOs reacted very flexibly..
2.     Well I hope very strongly that these People (super wales) stay away. But I also believe that these wales prefer to play golf.
3.   This is true BTC makes for the moment only joy. The experience tells me however: If one thinks one is avant-garde one is usually already history .
        The distribution offers a classic BTC holder a risk-free entry into the Altcoin market (my view).



Everything is (maybe) true - but you get it additional without risk (if you are a holder). But maybe I understand you wrong. Your general reasoning is somehow so that it is not worth it. Better stay in bed, play golf or invest somewhere else..
Yes, you can do that too..


Perhaps it is so , but I cannot judge. I think only in max / min scenarios (see the first statement) the space between is as unknown as the weather next fall.
Everyone appreciates things differently. This is good, otherwise it would not be fun (and not interesting).

Let's talk about this in December..

For 1 linked BTC (because you don't invest) will receive 62.5 MB (Megabyte) where 1 MB = 1 000 KB (Kilobytes) = 1 000 000 byte.

For each byte you have, you will receive 0.1 byte (+0.21111 blackbyte if your bytes are on linked byteball addresses).

What is traded for the time being is GB (Gigabyte) where 1 GB = 1 000 MB. For the time being 1 GB trades for around 0.08 BTC.

lol,

How do you type 1 million? Like 1 million dollars. How do you say 1 billion and 50 million dollars?

1 million, has 6 zeroes, like this. 1 000 000

1 billion has 9 zeroes, like this, 1 000 000 000

1 050 000 000 is 1 billion and 50 million bytes. Instead of saying/writing all those zeroes, you can use decimals, like 1.05GB.

1 byte is 1. Instead of saying million bytes we say megabytes, mega is scientific notation for million, and giga, for billion. 1 byte is almost useless as the transaction fee is usually around 540 bytes.

For 1BTC you will receive 62 500 000 bytes.

Thank you for the fast reply, sorry but just to double check for every 1 invested BTC I will receive 6.25 BYTE? Did I understand correctly?

go to google and type in


or


google can pretty much convert everything into anything ( that makes sense )

Hello, can someone explain to be how many MB in 1 BYTE? I see everywhere how much MB for 1 BTC, but I didn't understand how many in 1 byte. Also, I saw in the transition list  there are 30 pages of  0 balance, so it confused me as I thought that distribution will be in % proportion from your BTC balance or I understood something wrong? Thanks

i would like to help more. but i need help.
is it possible to run a bb hub on a raspberry pi?
the instructions here https://github.com/byteball/byteball-hub are not enough for me.

how to for:
- Install node.js
- clone the repository

When will distribution be finished?

I don't really think is a matter of finishing the distribution: with this reasoning mostly no coins should be on exchanges since even BTC is still far away from 21 million coins. I agree that is kind of interesting to see big exchanges still not onboard but I do believe they will jump on the train after the second round.

Byteball needs a bigger exchange with higher trading volume, yes. But to say Cryptox is not a legit exchange is not fair to them, the exchange that support the price at the present price of 0.08BTC. I have used Cryptox to trade and my experience of the site is good