Post
Topic
Board Announcements (Altcoins)
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
cryptohunter
on 22/09/2016, 19:20:40 UTC
About participation of exchanges in the distribution.

It is not the first time that people raise valid concerns about exchanges using their customers funds to get a large chunk of bytes, for themselves.  A few people offer to cap the amount on one bitcoin address but immediately admit that it is easily subverted by splitting the balance across multiple addresses, in other words, it doesn't work.

I see two solutions that work, both are something that I cannot do alone, and the community help is of utmost importance.

1.  Dilute the share of exchanges by bringing more people on board.  Fortunately, all individuals combined still hold much more bitcoins than the exchanges, hence this is achievable.

2.  Approach the biggest exchanges and ask them to give bytes straight to customers, as Jabbawa suggested above.  I'm going to do it but this will only work if there are enough customers who ask them about that.  If you are a customer, you can help.

(To avoid derailing this conversation into endless discussions about inequality, this post is about exchanges using funds that do not belong to them, not about whales using the BTC that they own)

I think capping the BTC wallet to 50 would be a good idea. Exchanges won't bother breaking it down that small hopefully and neither will super whales.
90% + of this board has less that 50 BTC.

Immense pressure should be placed upon all big exchanges to give byteball to the rightful owners/holders of BTC on their sites.

Can I ask you directly why you did not just follow clams and use the largest 3 POW coins to distribute if you want even more people involved with the project?