Post
Topic
Board Announcements (Altcoins)
Re: Obyte: Totally new consensus algorithm + private untraceable payments
by
MrChicken1987
on 29/06/2019, 17:18:17 UTC
Quote
I don't understand why you think this coin is a scam. Because it didn't fulfill its goals within the first two years? Maybe you can point that out. I really want to know why you think that.
yeah it is centralized database with zero use cases, luck of community and coin lost 99.2% of value. We must not allow new people to fall into this trap.

Okay, but that does not make this coin a scam. A scam would be something completely different in my eyes.
The problem is that decentralization alone does not change the world. Not every Bitcoin user has a copy of the blockchain. Heck, not even everyone has their coins in their own wallet and are in charge of the private keys.

But you could load a copy of the Blockchain or in this case a copy of the Obyte DAG. You are responsible for the decentralization. 
And supposing you are talking about the 12 witnesses, they do not mean centralization as far as i have understood the function of the witnesses.
Also, it is possible for you to convince users to use your node as witness. But you have to raise your stakes for that (give in your anonymity) as well as in Bitcoin (invest in hardware).

I think Obyte does have a use case. The wallet is super easy to use, available for every major OS and the chat bots could offer some amazing possibilities.
Also the lack of community that you are complaining about is something you said you want to achieve. So how shall the community grow (and erase one mistake that you see in Obyte) if you do not want that to happen? That's paradox.

I am sorry if you lost money during investment in this coin. Have you already realized the loss? Otherwise you could take actions that would help the value to increase and maybe even make some profit.

Additionally, there is a reason why people always say: Only invest the amount that you bear to lose.