Quote from: yvv on March 23, 2017, 11:06:12 PM

Quote from: iamnotback on March 23, 2017, 10:28:15 PM

Just took a closer look at Byteball's distribution scheme (because someone posted and ask me to) and realized the developer did a sneaky form of premine (he wasn't totally honest and transparent):

Quote from: iamnotback on March 23, 2017, 10:04:20 PM

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.

I have nothing against the developer taking a premine for himself, but deceiving the community and obscuring the level of the premine is not what I expected from Tony. I thought he had a high level of ethics. He is acting like he is being altruistic by distributing it for free to existing BTC holders, but in reality he devised a scheme to obscure the computation of his actual premine level as percentage of the actually issued supply.

Note Iconomi apparently got another ~~roughly 15%~~ 10%, so nearly 25% owned by just two entities.

OMG, what a bullshit! This dude does not have a clue about what he says.

I corrected already the 1% + 1% aspect. Afaics, the 1% + 1% aspect was not mentioned on the front page of website where I originally got the information. So at most that would be ~7% for Tony + ~10% for Iconomi, so 17% for two entities.

But as I wrote in bolded text, it is not clear by Tony's statement whether he intends the 1% + 1% to mean from planned issuance or from actual issuance. So perhaps someone can clarify that officially.

If he means from actual issuance, then indeed his share would only be 1%.

Read the statement verbatim. It says, "98% of all bytes and blackbytes (the private untraceable currency) will be distributed among bitcoin holders". That seems to imply that the 2% is of the planned maximum issuance of 1,000,000 GB. But it doesn't seem to say what happens when not all the planned issuance is actually ever issued.

Also the following statement seems to confirm that it is 1% of the planned issuance (for the math retards please note that 100m x 100KB = 10,000 GB which is 1% of 1,000,000 GB):

Quote from: iamnotback on March 23, 2017, 10:52:12 PM

Quote from: tonych on September 05, 2016, 04:00:28 PM

One last thing. The remaining 1% will be given away to the first 100m users who install Byteball wallet, 100 Kbytes to each user. This will start 6 months from now or later, after we get ready for that scale.

It was written in a somewhat ambiguous way, but leans towards my literal interpretation. Perhaps it is Tony's use of English, or perhaps it is intentional deception. Any way, could someone please clarify officially?

Quote from: yvv on March 23, 2017, 11:08:15 PM

Quote from: iamnotback on March 23, 2017, 10:52:12 PM

Can't you do elementary school math. Do you blindly believe everything you read without thinking.

Dude, you have some special math, which nobody use but you.

Okay dufus, so why didn't you even think of the fact what he wrote is ambiguous and misleading?