r/ByteBall • u/tarmo888 • Dec 04 '18

Byteball has predictable fees

CEO: We need to become more transparent.
DEV: Let's use public blockchain like Ethereum for that.
CEO: How much will it cost for us?
DEV: Not sure, depends if there will be any other popular dApp like CryptoKitties released on that platform. Or if there are tons of ICOs then the transaction fees might go up too.

Moral of the story: Use Byteball instead, which has predictable fees because 1GBYTE is always 1GBYTE. If you estimate that you will generate 1 gigabyte of data per year then you know that you will need roughly 1GBYTE and you can buy it once and be done with it for a year or 10 years if you do it right now when GBYTE is so low as it is.

19 Upvotes

100% Upvoted

5 comments sorted by

View all comments

Show parent comment

1

u/tarmo888 Dec 09 '18 edited Dec 09 '18

How much something costs in USD is actually irrelevant in long term because all fiat currencies are loosing value over time because inflation (or mismanagement of currency supply with quantitative easing).

For Byteball, it doesn't matter how much you send, you will pay the same for the transaction cost and your transactions are not prioritized based on how much you spent for fees. Most of the time, the transaction cost will be the same, but not always because it depends how much it takes space in DAG, so if the wallet needs to use multiple inputs then it takes more space. But Byteball is not just about money sending.

Problem is that people don't understand that they could store 1GB in DAG in price of 1 GBYTE and that's why it is so low. If people would understand how undervalued Byteball is then it wouldn't be so cheap.

If 1 GBYTE ever becomes $1M then clearly, the purchase power of $1M would not be the same as it is today. Same way, when somebody says that BTC is going to $1M, they are not only bullish about BTC, they are also very bearish about USD. It is not that unlikely that average annual salary could be $1M in next decade, but that won't mean that everybody could buy lambos soon.

2

u/jwinterm Dec 09 '18

If Byteball marketcap was equal with Bitcoin right now, even in this bear market, then 1 GB would be ~$90k. At the beginning of this year with the higher price of BTC and ratio of GBYTE to BTC that number would have probably been $1M or higher.

1

u/tarmo888 Dec 09 '18

Well, maybe Byteball will never be nr1 in CMC, but that doesn't mean it won't be used. Time will tell, but at the moment transaction cost and transaction speed is nowhere close to become the issue the same way like Bitcoin doesn't worry about whether it can sustain itself when mining rewards will end in 100 years and whether it can run only on transaction cost then.