Post
Topic
Board Announcements (Altcoins)
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
bobq
on 03/12/2018, 22:02:56 UTC
I'd like to resume the discussion on the theme of the default unit of Byteball, since Tony has finally made his point on this in the recent AMA session on Reddit, which people can fully read here:

https://np.reddit.com/r/ByteBall/comments/9yfbvt/i_am_tony_byteball_founder_and_lead_developer_ask/

I had expressed my opinion in June in this post:

https://bitcointalk.org/index.php?topic=1608859.msg40547826#msg40547826

and this is Tony's opinion as expressed during the AMA:

Quote
It would be unthinkable for Bitcoin to change their SI base unit, so altcoin changing it would look even more scammy. Imagin Bitcoin changing from BTC to mBTC, priced under dollar and listing total supply as 21 000 000 000 mBTC. People should be educated to read total supply and display units instead.

So, without changing the supply size, everybody (exchange, bot, user) can still decide individually what display unit makes most sense for them. Exchanges have decided for GBYTE, most bots for MBYTE. New user wallets start with Byte, but users can pick anything they like.

Base unit is Byte because on code level, if you want to send amounts, you need to convert amounts into Byte. Same is for Bitcoin satoshi and Ethereum wei.


What are you quoting is my opinion, not Tony's. OP on Reddit is the one who has the microphone icon behind their user handle. User who asked a question about unit sizes never got a reply from Tony, so I answered to 1 of 3 questions that this user asked. Their other 2 questions were in form of "When?", which I guess why they didn't get answered.

Since you missed that and trimmed first part of my answer, I am guessing you didn't get what I wrote you, so here same answer told in different way (maybe makes more sense):

GBYTE and BTC are the units that exchanges have decided to you and that's what is on CMC and it's this unit because that's how total supply is defined. Bitcoin decided for 21 million BTC and Byteball decided 1 million GBYTE. If you would change that unit on CMC to MByte, you would need to change the unit for total supply, so 1 000 000 GBYTE to 1 000 000 000 MBYTE. That would make Byteball to have 1 billion supply, which automatically would look shitty for some users because Bitcoin only has 21 million supply. But those who argue that price looks expensive, doesn't understand that it is normal to have higher price if supply is small.

Another thing you do not understand, it is up to exchanges and app developers to choose which unit they want to use, that makes most sense for them and their users. Bitcoin has thought about that, Litecoin too, many good Bitcoin wallets even have an option to change the units in the wallet the same way like Byteball does.

Some cryptocurrencies like Nano have not even thought about it yet, so they are wondering if they should change it now because it is not user-friendly for users to pay in amounts that have decimal places. https://www.reddit.com/r/nanocurrency/comments/9zqr03/weekend_discussion_shifting_the_decimal_place/

Good Bitcoin wallets and Byteball wallet doesn't have to do that, this feature is already built-in. Changing a base SI unit would be step backwards into 90s, that is not how the units displaying should work.

If you would be developer then you would understand that Byteball works the same as Bitcoin and Ethereum, in code you use only bytes, like on Bitcoin you use satoshis and on Ethereum you use wei. This enables the dapp or bot developer to let users decided what is the unit displayed on UI.

It is not feasible to change the ticker on CMC every time price reaches some level and then drops to some other level. GBYTE is only default for CMC and existing exchanges, it is not default in any other way. And it's not about what is default, GBYTE, BTC is the unit in which the supply is defined, changing that will change how supply is displayed too.




Sorry to have mistunderstood you for Tony on Reddit, since the AMA was with him I thought it was him to answer the questions.

Thank you for having dedicated time to try to explain me your point, but from your answer I understand that you have totally missed mine.

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It is not feasible to change the ticker on CMC every time price reaches some level
How do I have to say that the price is the least of my concerns? I'm repeating it in every post of mine but then people answer again and again as if the focus of my argument were just the price. It's a problem of semantics and of cognitive dissonance, but it seems that people here understand only about coding and pricing and are totally blind to any bigger picture. And IF the problem I'm raising is real, then to discharge the responsability of it on the exchanges is tragically childish. Problems must be addressed, not justified.

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If you would be developer then you would understand...
If you would NOT be developer then you would PERHAPS understand that to create "A cryptocurrency platform ready for real world adoption" is a complex task that goes far beyond coding and if you stay in denial of that and don't get into the team people who can see beyond coding, then.. well, good luck, you're gonna need it.

If by any chance you are really interested to understand what I'm talking about, and which you didn't address in your answer, you may want to read my June's post:
https://bitcointalk.org/index.php?topic=1608859.msg40547826#msg40547826