Review on Obyte by Paul Sletten
https://byteball.org/ Bitcoin shaped fintech. From their website, they…
https://byteball.org/
Bitcoin shaped fintech.
From their website, they espouse a value I hold dear in this space - the concept of things being as free as possible, ( My other favorite attributes being as sharable as possible, as distributed as possible, decentralized, immutable data, I could gush all day, guys.)
"Mass adoption requires wide distribution, that's why 99% of all bytes and blackbytes are to be distributed for free."
So this addresses many of the consumer hangups seen already with other products placing "too much" of the total pool in the hands of the people who developed,wrote,coded,scripted,networked, fundraised,marketed,bought,sold, and on and on and on.
As nearly every Hippocratic crypto kook will tell you, "Do your own research', and you should, but this product is A1. Before I did my research it was A1. And once you do yours, it will still be A1.
"It's not right because I say it's right. It's right because it's right."
- World Class boxing trainer Cus D'amato
Until the morrow, beloveds.
Pros
- In the whitepaper, today I learned a new acronym. DAG - Directed acyclical graph - as also seen on Minergate when you're setting up an ETH mining attempt and it hangs up for 3-5 minutes. Companies / People / projects that make consumers more aware and more deeply educated creates both more consumers and more predictable behavior from those consumers. Smart stuff. Conditional payments - requiring both parties to hold up their end of it or the one performing properly gets their money back. Consumer protection! ( puts on Mel Allen outfit) "How bout that?" Notable is the Textcoins function. One of the many barriers to entry for people is the learning and tech and configuration side of crypto, wallets, addresses, learning the language ( the bitcoin space) etc. Textcoins allows you to...wait for it, text people some coins. Or you can email them some coins. If they don't already have any wallets of any sort, they probably have an email address or a phone that can receive texts. From the article by seemingly AUTHOR UNKNOWN AND OR I COULDN'T FIND THE NAME IN 3 SECONDS SO I GAVE UP. https://medium.com/byteball/sending-cryptocurrency-to-email-5c9bce22b8a9 "The textcoins might be delivered through insecure media, such as emails or unencrypted chats. That’s why it is recommended to use them only for small amounts or through end-to-end encrypted chats, such as Signal, WhatsApp, and iMessage." I've long said you've got to train it into people or engineer it if you can't train them. With concepts seeking huge swaths of population to adopt into them, the smart choice is to engineer things into it first.
Cons
- Shoutout to the tastefully named Gregg Easterbook: "In deference to my Baptist upbringing, I am anti-gambling, but pro-topless." Byteball showcases as one of it's hooks Peer to Peer (P2P) betting. People should do what they want, so long as it harms none. If it harms self, I feel that fails to meet the criteria for harming none. Some people can bet for decades and not suffer social ills, and some fall into an unfortunate pattern. This is the downside to me ( one feature of many features in a strong product with good bones and good direction), but upside including Sovereign ID more than makes up for one persons individual opinion about an activity. I can certainly enjoy using Byteball Bytes and simply choose to not use that one feature.
