Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
Regarding the discussion about the Coin Supply. The current supply is 1,000,000 GBYTE which is not high in my point of view.
You can not multiple the current supply with billion and say we have 1,000,000,000,000,000 Bytes as supply. As this is not usable due to the fees per transfer (583 Bytes per usual transfer)
Recently i have tested the wallet and made some micro (1 byte) and small (1,250,000 = 1$) transactions.
I have paid 588 Bytes fee per transfer which equals to 0,0004664 $ (800$ per GByte / 1,000,000,000 x 583 fee)
If we assume that highest reasonable fee is 0,01 Cent. Then Gbyte should maximally rise with factor 21. The maximum price for 1 GByte would be then 16800$ per GByte
You can not multiple the current supply with billion and say we have 1,000,000,000,000,000 Bytes as supply. As this is not usable due to the fees per transfer (583 Bytes per usual transfer)
Recently i have tested the wallet and made some micro (1 byte) and small (1,250,000 = 1$) transactions.
I have paid 588 Bytes fee per transfer which equals to 0,0004664 $ (800$ per GByte / 1,000,000,000 x 583 fee)
If we assume that highest reasonable fee is 0,01 Cent. Then Gbyte should maximally rise with factor 21. The maximum price for 1 GByte would be then 16800$ per GByte
Thanks for clarifying
So KBYTE makes no sense but the underlying unit should definitely change to MBYTE
Having a 4 digit price is really a turnoff to investors, which is why XRP or ADA getting all the attention.
Supplywise, compared to XRP, a price above 100 000$ would be appropriate but no one pays that. 100$ for an MBYTE, on the other hand....
