Will you be involved with the Byteball community because of the airdrop?

in #byteball6 years ago

We have all heard of the Byteball airdrop by now, so I’m not going to bother nagging any more about that. Just click here if you've been living under a rock the last weeks. I do however want to hear some opinions regarding what you guys think will be the outcome from the airdrop, as well as share my own opinions on the matter.

byteball logo.png

The airdrop gave us all between $10 and $160 worth of Byteball bytes for attesting our Steem username, where 50 % was liquid, and the other 50 % is locked in a smart contract for a year. I believe this was a very good move from the Byteball team for a few reasons:

  1. It gave everyone a taste of what the smart contracts on the Byteball DAG can be used for. All of us now hold crypto that is locked in a smart contract, so you are kind of “forced” to learn about the smart contracts.
  2. It forces everyone to be invested in the success of Byteball for at least a year. If you believe that Byteball will fail, then you should sell all your Bytes right away, right? But you obviously can’t sell the ones that are locked in a smart contract for a year, so you are kind of vested in the success of Byteball. I bet all of us wants it to grow ten times over the next year, letting us cash out $100 to $1,600 each instead of what we got from the liquid half.
  3. It prevents everyone from dumping all their Bytes, which would lower the price/value of the coin. This is what happened in the past when Byteball airdropped to Bitcoin holders.

What exactly can we do with Byteball?

I have seen a few people wonder exactly what Byteball is, and I think it's important that we holders are aware of exactly what we are holding. In contrast to what many people believe, Byteball does not even run on a blockchain! Instead it uses a system called Directed Acylic Graph, mostly just referred to as DAG. It works a little bit differently, and the main advantages is that it can do things like produce multiple blocks at the time, giving the opportunity for better scaling. If you want to learn more about DAGs, then I suggest reading this article by Forbes.

Anyway, let's return to the point of the Byteball for a second. Right now they have some cool apps, such as sport betting, flight delay insurance, attestations, exchange bots, and even a Zork game running on the system. All these utilizes smart contracts of course.

This is obviously nothing revolutionary, but the idea behind it is to have human readable smart contracts where a huge amount of bots and systems like the ones mentioned above can run. Just like most other blockchains, its future is dependent on dapps being created for it.

Will you be involved with Byteball?

I believe that my point #2 might be the most interesting one, where it “forces” everyone to be long-term investors of Byteball Bytes. This leads to the question; how many people will be involved in the future of Byteball?

I’m not a developer myself, so I often have very little to contribute with when it comes to blockchains and cryptos. However, like here on the Steem blockchain, there’s stuff we can do to promote Byteball, such as telling other people about it, answering people who need help on places like the byteball subreddit, or just get involved with the community. Being a member of a crypto community might not feel like a direct way of helping, but I’m sure the communities actually contribute indirectly with increasing the value of a cryptocoin.

What I want to know with this post is if anyone here plan on getting involved with the Byteball community, either as a developer, or as a community member? I want to get a feel of whether or not people just want to get their free money, or if the airdrop actually has successfully gotten people involved with the project.

So what about you? Will you get involved? Just sell all your Bytes ASAP? Or will you be a passive holder for a while?

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I'm long-term holder. I will not sell them for the next two years.

Yup i will do that too its good to hold it for long

That sounds like a good plan. It would be cool if we were able to lock them for X years with a smart contract, and maybe get interest on them for doing it.

To be honest. Took money. Ran
but I am very interested in their smart wallet and its real life use for escrow payments. I will be monitoring them closely for now. I also loved their chat bot processes which worked like a dream. Jury out. High hopes though :-)

we are currently working on a real life smart contract/escrow payment service in Venezuela which we are very optimistic about.

there are current real live examples of smart contracts/escrow that you can use e.g. the sports betting bot https://bb-odds.herokuapp.com/ but the future of byteball is much more than just gambling using smart contracts

Hi mate and thanks for the response. Despite the fact the world needs a blockchain based, or in your case DAG betting exchange so badly, I did think that Byteball was kind of looking like a jack of all trades a little with all due respect.
But it worked, it wasn't too complex althought the multiple wallets and stuff did confuse me some what and as I said in the post, despite my trepidation at such things, the chat bots were right on the ball.
I just think that smart contracts/escrow payments done simply and done well if the cuture of trade, and who gets it right and gets the foot in will bring drag up the whole crypto movement into the mainstream. World trade done seamlessly, quickly and with transparency and trust is the way forward. Good look with the Venezuela project and every success in the future. I will be keeping up to date as I love genuine real world applications that can make a huge difference. Sadly there are so few.

Hehe, that's fair. I think a lot of people did this, and I've also seen a lot of people who used to it buy Steem, which is obviously good for us Steem holders.

I agree with the chat bot; it felt great to use, especially compared to dealing with Ethereum smart contracts.

I'm interested in it because I see the lack of smart contracts as a main weak point for Steem and the recent massive airdrop means there's an opportunity for some integration.

The idea of user-readable contracts is interesting, but I will have to read more deeply to see if that has actually been achieved (I've seen lots of user-readable stuff that gets very complex as soon as it becomes non-trivial).

It's 4th or 5th on my priority list, but if I have time, I do plan to hack around a little, write up a smart contract/steemit idea I have, and maybe post a utopian tutorial if it bears fruit.

The idea of user-readable contracts is interesting, but I will have to read more deeply to see if that has actually been achieved (I've seen lots of user-readable stuff that gets very complex as soon as it becomes non-trivial).

Good point. The bots/smart contracts I have seen done on Byteball thus far have been pretty trivial, so maybe it's a bit early to claim that it's a functional readable smart contract platform.

I'm looking forward to seeing what you have in mind (if you find the time)!

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I just made a wallet can someone show some love to get me started. Thank you want to get into it and the airdrops.

Sorry for the late reply, but you got enough Bytes to get started on the Steem attestation now (if you haven't done it already)!

I registered byteball, but I don't know how to use byteball. How do we increase our bytes?

You need to buy it or get it if you want more ;)

Oe, I think if we increase the reputation of the steemit account, then the bytes will increase.

No, I don't think it works like that :( I think the reputation only matter when you do the airdrop the first time.

Yeap, i see now....

yes i take my byteball reward...its amazing

Yep, it sure is :) Did you sell them, or keep them?

I have already get my byteball reward. And helped others. A great reward fo steemians

Yeah, it was a great reward indeed. Did you sell your Byteballs, or are you holding on to them?

I exchange them with steem.

That's not a bad idea ;) Don't forget to power it up!

@valth yes deifintely many people have involved with byteball due to this airdrops. People also enjoyed these airdrops also.

Yeah, I think a lot of people enjoyed it :)

Great and amazing information about byteball @valth. 🤗💚

Thanks for sharing this post.

I'm glad you found it interesting, @stardivine.

I just know this was a motivational opportunity.I got my airdrops.which was no doubt too less but I am happy to receive them .

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