Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
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I'll decide and announce the plans for future distribution around mid-November. But it is already certain that we skip the December full moon. The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently. That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more. Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow. Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.
Agreed, the efficiency of the airdrop decreases. It takes more people to fill the coin with value through their work.I'll decide and announce the plans for future distribution around mid-November. But it is already certain that we skip the December full moon. The purpose of the free distribution is in acquiring new users, and we should use the remaining undistributed coins most efficiently. That's why we are slowing down the distribution and gradually phasing out the method based on balances, which is not expected to produce much positive impact any more. Cashback has already proved more efficient in terms of cost of user acquisition, albeit it is still slow. Other product updates linked to the distribution are still in the making but not certain enough to speak about them now, I expect more certainty in the middle of November.
...but they need a reward
Great news Tonych
I was worried the distribution would continue as is.
Agree with you and kola that remaining bytes/blackbytes are much better used for distribution schemes that attract more users per spend byte, as well as pay devs that develop things.
I liked very much your idea of some free bytes for everyone that installs the wallet.
What concerns me most though is the lack of sustainable business model.
How will devs and other needed development and marketing expenses be payed once the limited stash is gone?
I don't believe dependency on donations works well. Only a few donate and pay for the bills for all coinholders.
After a while conflicts arise and the model in the end is changed, as is happening to Bitcoin, Nxt, Bitshares and so many others.
Think Dash, Decred, ZCash have solved this problem well by having an unlimited inflation where a piece of it continues to go to the dev/marketing.
However with a limited supply like Byteball I see only 2 solutions, break that agreement like Bitshares did and issue more coins, or abandon the project and build a new one with new tokes like Nxt did with Ardor, or much better and not tried yet to my knowledge, have a piece of the transaction fees go to a fund that pays for these things.
A hard problem to solve. Curious in your opinion on this.
In any case, thank you so much for everything. Love what you have build!!!