Expand on this, I wasn't a big fan of his distribution model either, having large ICOs hold the lions share, makes no sense.
See my prior reply to 7thKingdom. They can't use the distribution to fund app devs, content producers, and power users in order to drive the ecosystem.
But he still has 85%+ yet to be distributed ...
Okay that is a wildcard. I've heard this mentioned but never verified it. What is his commitment on that 85%?
When I was in Byteball's official thread last year to discuss, I thought he had committed to keep only a small premine and distribute all the tokens to BTC holders. What changed?
Edit: it is right there on the website:
Fair initial distribution
98% of all bytes and blackbytes will be distributed to current Bitcoin holders who bother to prove their Bitcoin balances during at least one of distribution rounds. No investment is required, you need just to link your Bitcoin and Byteball addresses by making a small BTC payment or by signing a message with your Bitcoin address. Then the number of bytes and blackbytes you receive in each round will be proportional to the balance of your Bitcoin address in the snapshot block of that round.
In the first round, over 70,000 BTC was linked, and we distributed 10% of all bytes and blackbytes according to linked Bitcoin balances in the first Bitcoin block timestamped Dec 25, 2016 (Christmas block). In the second and third rounds, we distributed another 3.7%, over 120,000 BTC was linked.
In the 4th round, which is scheduled for the full moon of April (April 11, 2017 at 06:08 UTC), we'll distribute 62.5 MB for each 1 BTC of linked balance and 0.1 new byte for each 1 byte you already hold. To participate, install the wallet and chat with the Transition Bot that will help you link your Bitcoin and Byteball addresses. Track linking progress at transition.byteball.org.
So there is another dilution of Byteball coming next month. But the current issued supply of 137,000 GB (out of 1,000,000 GB total supply that can be issued) is equivalent (at 4th round offer) to 2 million linked BTC that registered previously (in prior rounds at more favorable terms). So there would need to be serious interest from a large portion of BTC hodlers but they are only awarding $4 of Byteball (at current exchange price) for each 1 BTC linked. So I doubt many BTC hodlers will even bother to waste their time. So apparently the remainder of the supply is never going to get issued unless Tony breaks his commitment on how it should be issued.
The first round of Byteball was awarding 1 GB for each 0.7 BTC. The 4th round is only awarding 0.0625 GB for each 1 BTC. So apparently the distribution is nearly completed.
So the developer/creator of Byteball (named Tony) was very sneaky. He said his premine for himself was only 2%, but in effect it will be more than 10% (currently 14.6%) because less than 20% of the total planned supply will ever be issued.
Edit: "1%" (which is really 6 - 7%) will be given to up to 100m user wallet installs, at 100KB each, so roughly $0.0067 per wallet install at current exchange rate:
https://bitcointalk.org/index.php?topic=1839699.msg18309534#msg18309534What is not clear is whether the 1% referred to is only of issue supply or of maximum planned supply, as I explained in more detail at the above link.
Note I don't think $0.0067 per wallet install (even if the price increases by 10X or even 100X) is going to incentivize any users to install wallets.