Have you heard about Byteball ? Yesterday I received $279360 (revealed) plus (hidden values) worth GBYTE absolutely free

in #byteball4 years ago (edited)

Do you know about Byteball & it's fare distribution ?

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Byteball is a completely new cryptocurrency with totally new consensus algorithm DAG (Directed acyclic graph). To know more about DAG algorithm you may navigate to  https://en.wikipedia.org/wiki/Directed_acyclic_graph.  DAG is Byteball's backbone where maximum crypto currencies use blockchain. For this Byteball has block size issue, because it has no blocks actually. Instead of blocks on blockchain,  every new transaction references one or more earlier ones (parents) by  including and signing their hashes. The links among transactions form a  DAG. By including its parents, each new transaction also indirectly includes and confirms all parents of the parents, parents of the parents of the  parents, and so on.  As more transactions are added after your  transaction, the number of confirmations you receive grows like  snowball, that’s why the name Byteball (our snowflakes are bytes of  data). 

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Mining, Fees & Money Supply

There is no PoW (Proof Of Work), no PoS (Proof of Stake), and no mining. All coins are issued to a genesis address from which every full moon we get free bytes. The fees paid for storing one’s transactions (or any other data) in the  Byteball database are equal to the size of the data being stored.  If  the size of your transaction data is 500 bytes, you pay exactly 500  bytes (the native currency of Byteball) in fees. There are only 10^15 bytes (1 Million GBYTE) existed.  All bytes will be issued in the genesis transaction.  Since the fees paid are returned into the circulation, the money supply will remain the same. 

1 GB = 1000 MB ; 1 MB = 1000 KB, 1 KB = 1000 Bytes, So, 10^15 Bytes means 1 Million GB

Some Interesting Features of Byteball

1. Conditional payments :  You set a condition when the payee receives the money. If the condition is not met, you get your money back. With this great feature you'll able to do exchange bytes to other assets or, bitcoins & vice versa without help from a middleman. A great & true P2P exchange is possible only on Byteball platform, it's sheer different from Bitsquare.

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2. P2P payments in chat : You can pay any person via chat by adding their wallet device to your wallet device. Oh! I've forgotten to tell that a nice chat app is integrated to your Byteball wallet, it's decentralized, privacy protected & fully encrypted.

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3. Prediction markets : Forget about Gnosis . Byteball has a strong feature to create a P2P smart contract that can be unlocked if a specific event occurs. Use it for betting on price movements and insurances also.

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4. P2P insurance :  Buy insurance from peers to get paid in case a negative event occurs. Sell insurance for profit. 

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5. P2P betting :  Do you love to bet on soccer matches ? It's very easier on byteball platform now. Bet against other users on sports events without any middleman.

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6. Chatbots :  Shop by chatting with a merchant's bot, pay in two clicks. Exchanges and other services are also easy to use in conversational interface.

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7. Assets and on-chain exchange :  Bytes is the native currency of Byteball.  Any User can issue any other tokens (assets), e.g. to represent debt.  The debt can be expressed e.g.  in fiat currencies or in natural units (barrels, ounces, kWh, etc).   The issuers of the debt can reveal their real-world identities and/or  be voluntarily attested (i.e. their real-word identities be verified by a  well known third party such as CA).  This enables the use of the  existing legal system to secure against fraud. 

8. Regulated assets :  Regulated institutions can issue assets that are compatible with KYC/AML  requirements. Every transfer of such asset is to be cosigned by the  issuer, and if there is anything that contradicts the regulations, the  issuer won't cosign. This way, banks can issue fiat-pegged assets  and stay fully compliant.  They can open demand deposit accounts and  track them on Byteball as assets.  These assets are easily exchangeable  against bytes and other assets (with bank’s approval). 

9. Private untraceable payments : The most interesting feature is Byteball's fully private untraceable payment system.  Payments in private assets are not published to the public database. Instead, only the hash of the transaction is stored to the database,  while the plaintext of the transaction is sent directly from the payer  to the payee.  To protect against double-spends, a spend proof is  also published to the Byteball database.  The spend proof is constructed as a hash of the output being spent, so that if the same  output is spent twice, the spend proofs will be necessarily the same.  When you want complete privacy, pay in blackbytes, a cash-like untraceable currency whose transactions are not visible on the public database, they are sent peer-to-peer instead. 

There are also a lot of features, to know please, visit Byteball's official homepage : https://byteball.org/ &  Read the whitepaper 

Buy/Sell Byteballs

 1. In-wallet Exchange Bot 
[ byteball:[email protected]/bb#0000 ]

2. Byteball Slack Channel - OTC Trading
[ https://byteball.slack.com/messages/trading/ ]
[ https://byteball.slack.com/messages/trading_blackbyte/ ]

3. Escrowed Slack Trading Bot - OTC Trading [Automated]
[ https://ydx.slack.com/messages/gb_btc/ ]
[ https://ydx.slack.com/messages/gbb_btc/ ]

4. Decentralized Bitcoin Exchanges
[ https://bitsquare.io/ ]

5. Regular Bitcoin Exchange Sites
[ https:/cryptox.pl ]
[ https://www.cryptopia.co.nz ]
[ https://bittrex.com ]
[ https://changelly.com/ ]  

Participation in free Byteball distribution

On every full moon you'll get free bytes & blackbytes by linking your Bitcoin & Byteball Address. The distribution rounds will be finished when all 10^15 bytes are distributed. Here are the rules of distribution :-

BTC to bytes: 1 linked BTC of proven balance gives you 62.5 MB (0.0625 GB)
BTC to blackbytes:  1 linked BTC of proven balance gives you 2.1111 * 62.5 million blackbytes  (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.2 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.42222 blackbytes 

How to link your BTC address and its balances with the distribution? It's easy just download the wallet & then navigate to Bot Store. There you find a bot named "Transition Bot". Add it. Now chat with transition bot to link your BTC address. At first type "hi" or, anything then chatbot reacts immediately to display the detailed instructions. Follow carefully the instructions , and it'll done. Actually bot tell you to sign your byteball address with your Bitcoin address to link. There is also an alternative option to send a micro payment to chatbot specified bitcoin address. After 1 confirmation your Bitcoin address will be added successfully.

Here is a full guide :

How to link Bitcoin address for participating Byteball Free Distribution Round ?

How to sign a message with Bitcoin Private Key ? Part #01 

How to sign a message with Bitcoin Private Key ? Part #02 

Yesterday was the 6th round. So, be ready for the next 7th round .......

Here I only share my hot byteball address which is linked with my hot bitcoin address.


Byteball is the Next Bitcoin .........

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wow, great post! thank you @royalmacro - i learnt so much. very well written. clear. easy to understand. thank you and cheers!

Wow I'm definitely going to try this! Sound so amazing and so easy let start asap on my computer hope i will make some cash in future with this currency what's the exchange rate with usd for 1 byte not that it would stop me even if it was $0.0000000000000001 i would still get them!

Thanks for sharing

1 GB = $750 now, so, 1 byte = $0.00000075

This is Really Interesting! Might Consider myself getting some Bytecoin

it's not bytecoin, it's byteball

My Mistake meant Byteball! There are so many Coins that I can get mixed up sometimes

So the full moon was the reason the price dropped today though?

yes, over $47 million worth of bytes were distributed on the last full moon :) So, imagine how big the crash was ? From 0.34 BTC to 0.25

Does Byteballs really give you free money?

They give you token, wich you can change for other cryptos.

@royalmacro I just wrote a post about byteball in spanish. I love this coin.

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Ill have to give this some thorough DD, thanks!

All of this looks great, and I will comment now so that I could read this article tomorrow, I have Purchased 1 Byteball, but later sold it, I didn't knew much. I will dig up all tomorrow.

nice. maybe you bought 1 GB byte, 1 GB byte means 1,000,000,000 bytes :)

Might be, I don't remember, are you into mining cryptos?

Excellent information dear friend @royalmacro, thank you very much for sharing this data.
Have a great day

have you ever linked your bitcoin to byteball ? If not then do it to get free bytes :)

followed, thank you

Interesting post. Good to see I'm not the only one that is thinking about this. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future. I was wondering if anyone of you uses: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis.

Just joined byteball. Any pointers? Can't seem to get any of the methods to gain the free bytes

I have download it and I got address here :

Byteball looks very polished. The option to do both public payments (bytes) as private payments (black bytes) is very handy, although bytes and black bytes are two different tokens.

The distribution scheme is very unique (you basically need to tie your Bitcoin wallet with BTC balance to your Byteball wallet during the period of drops) and ensures an active and distributed crowd of users/hodlers.

Together with Nimiq, I consider this one of the challengers to Bitcoin.

yes, thanks for your comment :-)

I want to activate the wallet to profit from Steam
Who sends him and wins?
This is the title of my wallet