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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Mon Aug 07, 2017 11:45 am

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Mon Aug 07, 2017 5:06 pm

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- Over 1.2 million $BTC linked to #Byteball!
- Don't miss biggest #airdrop ever!
- Get free coins + 20% bonus
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https://byteball.org/
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under 3hrs to go!


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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Mon Aug 07, 2017 10:05 pm

The snapshot for round 8 has been taken: block 479537.

Byte distribution will start in a few hours!
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Thu Aug 10, 2017 8:04 am

After August 7 we'll reach more than 50% distributed coins and will start a new phase of our distribution.

It was stated from day one that the purpose of this distribution is to get this coin into the hands of as many people as possible.  Both coins (bytes and blackbytes) are meant to be used as currencies, and this is only possible when there are many users and apps to interact with.  We already have a sizable community, a number of unique apps, and we are the only crypto project to have an app distribution platform (the Bot Store), but there is still a lot of room to grow in terms of user count, number of apps, and willingness of users to use these apps.

Up until now, we were distributing only to holders of BTC and Bytes, i.e. we were rewarding holding.  Now we are adding actual users into the mix, i.e. we are going to reward transactions.

To get you an idea of how we are going to do it, we are going to partner with several categories of companies:
- merchants
- payment processors
- "Bitcoin debit card" companies
and offer 10% cashback, paid in Bytes, for all qualifying purchases (no matter how the purchases are paid).  The cashback will be funded from the undistributed pool.  For example, a customer who bought for $100 receives $10 cashback in Bytes, paid to his Byteball address, at the current exchange rate.  For merchants, this is something that would drive sales and they would put effort into promoting the offer.  In competitive industries, a 10% cashback is a very powerful tool to lure customers.  For customers, this is a 10% discount (which matters a lot in some industries).  For Byteball, it is new users who will have to get involved into the system in order to receive the cashback.

A few companies have already expressed interest (not disclosing the names while it is a work in progress).

A few extensions of this offer:
- 20% cashback if the purchase is paid in bytes or blackbytes.  This would incentivize merchants to start accepting bytes and blackbytes, and the infrastructure will stay after the distribution ends.
- merchants can offer additional cashback to their customers.  Merchants fund it themselves by buying bytes from the market, and for every 1% funded by the merchant we add 1% more from the undistributed pool.

If you see similarity with existing loyalty points schemes, it is similar indeed.

At a minimum, we receive many new users who learn about Byteball from their merchants, plus working payment integrations.  And the users are not just crypto fans, it may be their first crypto coin for many users.  With the most user friendly wallet in the industry, we are in the best position to expand beyond the crypto village.

We can continue adding 10-20% to existing byte balances to incentivize keeping the received bytes before more infrastructure is built, rather than cashing out immediately.  

Two negative sides:
- the scheme is less transparent than plain adding on top of existing balances, and some share of fraud is inevitable.  Merchants might try to deceive us to receive coins for themselves by reporting nonexistent sales or selling to themselves.  This is mitigated by good choice of trustworthy merchants and our ability to disconnect any merchant at any time on suspicion of fraud.  Their customers can also try to find ways to abuse the system, again we'll require the merchants to prevent that by excluding some types of purchases, monitoring customers, enforcing caps, etc.  Additionally, if the merchant funds part of the cashback himself, he has skin in the game to counter the customer fraud.
- these new users are not holders for the most part, they are more likely to sell.  Not a big problem, the point is they already know about Byteball and it's easy for them to get back.  The new users are new to crypto, many of them won't use exchanges, and somebody will have to create new easier-to-use channels to fiat, which is positive for liquidity.  Also, 10%-20% monthly distributions discourage fast selling while the distribution is ongoing.  And lastly, the merchants who fund 50% of the cashback would partially balance the markets by buying coins.

On balance, I'm sure that these negatives are tolerable when we are going to achieve a vast expansion of our user base and acceptance at merchants.

For the current distribution round, nothing changes.

For the next distribution on September 6, we are changing the ratios in favor of Byte holders and slowing down the distribution to have more time to build out the cashback program:

BTC to Bytes: every 160 BTC gives you 1 GB from the distribution (or 0.00625 GB per BTC).
Bytes to Bytes: every 10 GB of existing balance gives you additional 1 GB from the distribution (in other words, +10% to existing balances).

Similar ratios for blackbytes.

For those who receive their first bytes from cashbacks, Sep 6 will be the first distribution when they receive +10%.

I'll make announcements as we add merchants in the cashback program.
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Fri Aug 11, 2017 2:22 pm

Distribution of blackbytes is now finished too.

As already announced, we'll now distribute bytes between rounds as cashback for purchases at participating merchants https://bitcointalk.org/index.php?topic ... sg20686283.

Distribution on top of existing balances in Bytes and BTC continues too. The next round is on the Full Moon of September (September 6, 2017 at 07:02 UTC):
BTC to bytes: 1 BTC of proven balance gives you 6.25 MB (0.00625 GB)
BTC to blackbytes: 1 BTC of proven balance gives you 2.1111 * 6.25 million blackbytes (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.1 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.21111 blackbytes

Putting this another way, to receive 1 GB from the distribution, you need to already hold 160 BTC or 10 GB. These same holdings also give you 2.1111 GBB (giga-blackbyte).

Watch our announcements to learn about merchants who join the cashback program (contact me if you are a merchant and want to apply).
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Fri Aug 11, 2017 3:44 pm

Can you still claim free byteballs?
We don't need no centralisation. ImageImageImage

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Tue Aug 22, 2017 11:47 pm

Byteball Video Competition - show how you work with the wallet and win coins!

Please don't forget to upvote on reddit: https://www.reddit.com/r/ByteBall/comme ... mpetition/
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Thu Aug 24, 2017 3:07 am

Byteball version 1.10.1 released: recovery from seed on light clients and other improvements:
___
- Ability to partially recover from seed in light clients
- Visual improvements of contract creation pages
- Improved performance of sending and receiving blackbytes
- Fixed an issue that caused the app to sometimes crash on Android phones with system language set to Turkish (that was tricky!)
- Fixed an issue where Android app sometimes failed to start
- Fixed an issue when resending received blackbytes to cosigner devices could crash the cosigners
- Reworded the light/full choice page shown when the app starts for the 1st time. In the old version, many users were confused by the names and were choosing "full" without realizing what it is.
- Multiple small bugfixes
- Improved translations

___
https://github.com/byteball/byteball/releases

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Sat Aug 26, 2017 7:37 am

Thanks to contributions from @Freefactomizer, our sports oracle got a lot better.

Image

Now it also supports MLB, NBA, NFL, and NHL.  You can browse the past and upcoming games and find the feed name for entering into your p2p betting contract.  And with the new contract forms, it takes very little typing to make a contract.  After the outcome of the requested game is known, you'll get notified by the oracle.  Try it.
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Sat Aug 26, 2017 7:41 am

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Thu Aug 31, 2017 9:31 pm

Byteball sports oracle now supports Soccer, MLB, NBA, NFL, and NHL. Browse and get codes for p2p bets
___
https://bitcointalk.org/index.php?topic ... sg21199623
___

Bytes included in Kaiserex recommended portfolio
___
https://www.kaiserex.com/what-is-the-re ... portfolio/
___

Buy blackbytes for bytes via a smart contract
___
https://bitcointalk.org/index.php?topic ... sg21250868
___

New in prediction markets: bet on total market cap of crypto
___
https://bitcointalk.org/index.php?topic ... sg21308001

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Wed Sep 06, 2017 12:46 am

Don't forget Byteball - Round 9 - full moon of September 6, 2017 at 07:02 UTC - just hours away!
___
https://byteball.org/

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Mon Dec 18, 2017 11:56 pm

The Time for Byteball is Now

In recent weeks, we have witnessed increased interest in DAG-based currencies. This new revolutionary technology, which addresses the problems of existing blockchain currencies, is part of IOTA and Raiblock's recently success, whose capitalization increased seven-fold for IOTA and 20 times for RaiBlocks. Both of these currencies have recently become popular with everyone wanting to buy some. The price of Byteball, however, stayed the same for a long time. Now the sleeping giant has woken up and its price has increased from $330 to $770, more than 130%.

Read more: https://coinidol.com/the-time-for-byteball-is-now/

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Mon Jan 08, 2018 11:33 am

The Best Investment in 2018? Byteball

2017 was an excellent year for many crypto enthusiasts and investors. Few of us expected this period to be so successful, especially since it was clear from the beginning of the year that we would see the first hard fork of bitcoin, accompanied by a great deal of uncertainty.

With a little exaggeration, it could be said that it did not matter which currency investors invested their money in. Total market capitalization of cryptocurrencies increased approximately 35-fold. Hundreds of new projects came out, some of which contain new technology that could be a competitor to classic blockchain technology in the future.

Read more on Coinidol.com: https://coinidol.com/best-investment-byteball/

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Tue Jan 16, 2018 2:25 pm

Designed to Succeed: IOTA, RaiBlocks and Now Byteball

Byteball is a new generation of currency which is based on DAG (directed acyclic graph) and it gained unprecedented interest at the end of 2017.

The main benefits in short: Byteball has a user-friendly wallet, it’s fast and it has no PoW/PoS, yet is still 100% trustless. There is extremely high privacy through Blackbytes. It has smart contracts that actually work (insurance, prediction market, lottery, betting bot, blackbytes exchange, altcoin exchange etc.). It has fair distribution and a limited supply and is in very active development.

Read more: https://coinidol.com/designed-to-succee ... -byteball/

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Tue Jan 16, 2018 2:47 pm

If only byteball didn't need those witnesses to be trusted, it would be awesome.

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Fri Jan 19, 2018 8:45 pm

RaiBlocks, IOTA and the Undervalued Byteball

To help fix blockchain issues, new technologies are emerging on the market, known as data acyclic graph systems (DAG). New cryptocurrencies have emerged, such as IOTA, RailBlocks and Byteball. The systems upon which these currencies are based allow users to further leverage the potential of the technology.

Byteball has a lot of benefits.

To find out more about it read: https://coinidol.com/raiblocks-iota-and ... -byteball/

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Re: [ANN] BYTEBALL: Totally new consensus algorithm + private untraceable payments

Sat Feb 10, 2018 2:26 pm

Byteball and Its Development in 2018

Byteball is one of the few currencies that does not go through rapid ups and downs as we can see in other coins. It has a very strong user base and thanks to this its growth is gradual but stable. It allows users to create bets of all kinds (such as on a flight delay or the weather) using the smart contracts with conditionals. All public assets are able to be sent as textcoins, not just Bytes. It also provides private payments in the form of a secondary Blackbytes currency.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/byteball-and-its-development/

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