Post
Topic
Board Announcements (Altcoins)
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
tarmo888
on 03/12/2018, 22:49:38 UTC
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.

Quote
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.

Quote
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

I read it again, but I still don't understand what the hell are you suggesting to do. If you change it from GBYTE to MBYTE, then 1USD be shown as 33.422460 MByte, instead of 0.033422460 GBYTE (or 1GBYTE = 29.92USD to 1MBYTE = 0.02992USD). So, changing the unit directly affects how the price is displayed. Are you suggesting to replace understood storage units to made up unit names like babbage, lovelace, shannon, szabo, finney, satoshi? http://ethdocs.org/en/latest/ether.html

Also, saying that you don't care about the price, but then say that it should be changed from GBYTE to MBYTE because many people can't afford GBYTE is directly connected with price because once price of MBYTE raises to hundreds, you would do this process again, because many people would never afford MBYTE then (and somebody will think it is blocking the mass-adoption again). Many people will never afford 1 BTC and it is fine because once BTC prices goes into hundreds of thousands, it would start to make sense to display prices in mBTC instead. Byteball has already taken care of that, like many good Bitcoin wallets have done it too. Byteball also starts with smallest (Byte) unit as default, not like Bitcoin wallets start with the biggest (BTC) unit as default.

And as I've explained more in detail in my June post, to think in terms of Gigabytes means to think in terms of Million of Dollars - that's not how I would design a currency seeking mass adoption. As for the people who are programming bots in MBYTE, they are a little minority of tech guys. 99% of people will stay stuck with the GBYTE unit which was chosen for them. This could result lethal for Byteball adoption. As I've said in June, I don't care about the price, I care about perception and coherency and avoiding cognitive dissonance. To seek mass adoption with a currency which unit is expressed in "million of dollars" by 99% of adopters is sheer cognitive dissonance. Comparing to Bitcoin here it makes no sense because the two coins are not peers due to Bitcoin's huge first mover advantage.

Developers are not programming bots in MBYTE, developers do it in Bytes (smallest unit for Byteball), just like Bitcoin developers do it in Satoshi (smallest unit in Bitcoin mainnet) and Ethereum developers do it in Wei (smallest unit in Ethereum blockchain). It is up to bot or exchange developer to choose, which unit makes sense for their product/services prices. Best would be if they also let users pick the unit of display, but it doesn't matter because once they click buy link or scan a QR code, Byteball wallet will show the unit that user has chosen.

If you dowload the wallet, then default unit is Bytes, GBYTE is not chosen for them, it's just CMC and exchanges.

Not sure why would somebody associate gigabytes with Millions of Dollars, giga is billion, mega is million. Most people don't associate them billions or millions, but rather with storage space, what is the whole point of bytes in Byteball (1GBYTE is roughly 1GBYTE of data in DAG).