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Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
Another small but important update: when a textcoin link is clicked on Android which doesn't have Byteball app installed yet, the user will be automatically redirected to our app on Google Play and the textcoin will be passed on to Google Play, then to the newly installed app, and claimed immediately after the wallet is created. Which is a very smooth process for new users.
Fantastic. UX details like this matter greatly.
January 2018 update.
Guess by now we all know what happened.
Even scenario A was too conservative: https://i.imgur.com/Cr0BsQ0.png
Guess by now we all know what happened.
Even scenario A was too conservative: https://i.imgur.com/Cr0BsQ0.png
Just checked the price now, almost $800/GB, i never knew it was this highly priced.
It is not. There are only 645,222 GB in circulation. It is in fact very cheap right now.
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
A coin needs continuous development and marketing.
Paying these things from donations is not a business model.
You need a piece of the created coins to pay for this so that all coinholders pay their part of the bill.
Fully agree. There needs to be a dedicated reserve for marketing, UX & development in order to attract a larger community and to secure the future of Byteball.
Right now if Tony dies the project is over and out, so witnesses can still be centralised in Tony, as the project is still fully dependent on him anyway. Over time though it is indeed important that more people take on leadership roles so that the project can go on without him if necessary, and indeed witnesses become more decentralised as well.
Are there any known plans for the foreseable future to decentralise the witnesses?
In my opinion, this is quite a big risk that should be addressed in a timely manner.
Even though I like the innovative technology & distribution of Byteball, I really hope Tony will expand the team and decentralise the tech & community more.
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
And now the fools that come in claiming it's bad that whales get all the money without even considering what they're saying.
Someone with 16BTC (yes $130k) is not likely to care about $23 worth of byteball. If you really think that is their motivation, you're really lacking.
A Whale would simply purchase a GB at $250 and get the 10% bonus instead of hoping his $130k would get him $23.
Your logic here seems reasonable. Still: the top 10 Byteball linked BTC addresses represent ±200.000 BTC combined: http://transition.byteball.org
This translates to 1250 GB airdropped Byteball. That's still quite a lot for the market to swallow if it would be sold in a short period of time.
The merchant cashback program is great though and I'm very curious about the new additional distribution method coming in December.
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
..That's why the next round of distribution to Bytes and BTC holders is tentatively planned for the full moon of March 2, 2018. The rules are the same as in the previous round:
For every 16 BTC you receive 0.1 GB,
For every 1 GB you receive additional 0.1 GB,
and similar rules for blackbytes.
This round can be postponed or even canceled depending on performance of other distribution methods.
For every 16 BTC you receive 0.1 GB,
For every 1 GB you receive additional 0.1 GB,
and similar rules for blackbytes.
This round can be postponed or even canceled depending on performance of other distribution methods.
Why not limit the distribution to Byteball holders only? Rewarding BTC whales at this stage generates unnecessary sale pressure in my opinion.
In addition to the free distributions it would be wise to reserve around 5% or 10% for future marketing, UX & development in order to attract a larger audience & secure the future development of Byteball.
Actually, Sia is valued higher with a marketcap of 134,000,000 https://coinmarketcap.com/currencies/siacoin/, compared to just 65,000,000 for STORJ. https://coinmarketcap.com/currencies/storj/
2020 is really long time period for price prediction. But minimum is 12000$ and i cannot find a highest level.
If we are talking when i will sell my bitcoins then i will sell if bitcoin price hit 100k$ then i will get retired for sure.
If we are talking when i will sell my bitcoins then i will sell if bitcoin price hit 100k$ then i will get retired for sure.
While we might overshoot to $10000+ in the coming months, there is still the possibility of a bear market in 2018/2019 that will take us back to the $2000 - $6000 range for quite some time, so to say that $12000 is a minimum price in 2020 is pretty optimistic.
Update: Scenario A still in play, but it seems the timeframe is even more compressed than anticipated. (please repost as inline image)
https://i.imgur.com/D8b6jMR.jpg
https://i.imgur.com/D8b6jMR.jpg
For now, Litecoin will be a hedge against Bitcoin with all the uncertainty going on concerning a potential Bitcoin fork. If everything goes well after August 1st, and the Bitcoin network is stable, then Litecoin might drop.
Sold 20% of my stash @ 100 Billion marketcap. Looking back I should have sold more though. 
This deep correction was to be expected with so much hype going around.
We had a very (unhealthy) parabolic bull run upwards in the last few months.
Got in the cryptomarket @ 20 Billion marketcap, so I am not too worried (yet).
Most of my holdings are for long term investment.
This deep correction was to be expected with so much hype going around.
We had a very (unhealthy) parabolic bull run upwards in the last few months.
Got in the cryptomarket @ 20 Billion marketcap, so I am not too worried (yet).
Most of my holdings are for long term investment.
Update July 2017. So far scenario A+.
Can someone post the chart inline? (use permission issue since I am at newbie level)
https://i.imgur.com/DYjeNOT.jpg
Can someone post the chart inline? (use permission issue since I am at newbie level)
https://i.imgur.com/DYjeNOT.jpg
Feathercoin looks like it's about to skyrocket right now. A lot of the other old coins of the 2013 bull market just had a big rise as well (infinitecoin for example). FTC looks like a decent buy..
The scenarios are based on studying historical charts and doing some TA.
Disclaimer: I do not trade professionally and I have little experience in technical analysis.
Scenario A is Bitcoin FOMO on a global scale with accelerated adoption by retail, e-commerce and financial institutions.
A declining stockmarket would add extra fuel to the fire.
Scenario B is a 1:1 copy of the last bull run that started in the summer of 2013.
Basically this comes down to ±6x the previous top: $210 > $1200 > $7200.
Scenario C is based on steadily declining multipliers for the tops.
top $30 > top $210 = x7
top $210 > top $1200 = x6
top $1200 > top $5500 - $6000 = x5
Scenario D is based on a declining base to top multiplier (multiplier x0.666)
2011 spring base $1 > 2013 summer top $30 = x30
2012 fall base $10 > 2013 spring top $200 = x20
2013 summer base $100 > 2013 december top $1200 = x12
2015 summer base $250 > 2017 fall top $2000 - $2300 =x8
Scenario E is a consolidation fase with a retest of the psychological $1000 level. This level will now function as support.
Scenario F is Scenario C but with a lower top and consolidation at the $2000 level.
Scenario G and H are based on a future where Bitcoin will no longer be the dominant cryptocurrency. In this scenario Bitcoin will be surpassed by competitors or successors with better technology and/or it will fail to provide a solid solution for the scaling issues and long confirmation times.
Disclaimer: I do not trade professionally and I have little experience in technical analysis.
Scenario A is Bitcoin FOMO on a global scale with accelerated adoption by retail, e-commerce and financial institutions.
A declining stockmarket would add extra fuel to the fire.
Scenario B is a 1:1 copy of the last bull run that started in the summer of 2013.
Basically this comes down to ±6x the previous top: $210 > $1200 > $7200.
Scenario C is based on steadily declining multipliers for the tops.
top $30 > top $210 = x7
top $210 > top $1200 = x6
top $1200 > top $5500 - $6000 = x5
Scenario D is based on a declining base to top multiplier (multiplier x0.666)
2011 spring base $1 > 2013 summer top $30 = x30
2012 fall base $10 > 2013 spring top $200 = x20
2013 summer base $100 > 2013 december top $1200 = x12
2015 summer base $250 > 2017 fall top $2000 - $2300 =x8
Scenario E is a consolidation fase with a retest of the psychological $1000 level. This level will now function as support.
Scenario F is Scenario C but with a lower top and consolidation at the $2000 level.
Scenario G and H are based on a future where Bitcoin will no longer be the dominant cryptocurrency. In this scenario Bitcoin will be surpassed by competitors or successors with better technology and/or it will fail to provide a solid solution for the scaling issues and long confirmation times.
There is a fair chance that scenario D might play out with an intermediate top at $2300, a pullback in 2018 and a continuation of the bull market in 2019.
If Bitcoin takes this trajectory, this will force a lot of weak hands out of the market. I'm hoping for scenario B though.
If Bitcoin takes this trajectory, this will force a lot of weak hands out of the market. I'm hoping for scenario B though.