I can tell you what will happen simply, Vendors will end by overcharging price of items to take in account the escrow they have to keep immobilized or they will bypass the escrow by asking the buyer to FE (Finalize Early) his transaction before the item is shipped, meaning the system will become quite useless because it is too expensive to bear for a lot of Buyers and Vendors
On a business model, for a Vendor that ship items that are received in about 2 weeks let's say, bear the escrow and the guarantee fund is enormous for 2 weeks...it is not really business friendly...only a Vendor starting with a large amount of cash for escrow will be able to do business constantly...And let's not speak about the issue to grow your business, the situation is even worse regarding the requirements for growing the business.
In the end i think the system will destroy itself in its current state because the only options for Vendors will be to price items expensive or to bypass the escrow, and yet it is not very confortable for them.
As another user said there is also the problem of scalability, for little items it is fine to make an escrow of a few dollars, but not all the buyers will have 2 times the money of what they are buying when we speaks of thousands $, for a company it will be also a hell for accounting, i don't see small companies having enough money to adopt the system either...
My point is that it will be hard to put the system mainstream in these conditions for sure.
As i suppose the moderation or arbitration of transaction is not an option seeing the FAQ, there are perhaps others way to explore, community votes or supervision in case of dispute on a transaction, possibility of modification or configuration of the escrow to free only a part of it as it is done in business when you pay an advance on an order and pay the rest after, to be able to negotiate between parties if needed.
So for me the current system is friendly to absolutely no one, Buyers will have to have 2 times the money needed to buy, filtering minimum 90 % of Buyers probably, Vendors will need an enormous amount of money to just keep the business running or to hope to be able to grow it a little...
There is no marketplace who can target all types of sellers/buyers out there... Yes, there will be buyers/sellers who can't afford it. Where is the problem? There are people on this earth who can't afford clean water. Does it make clean water useless? Your point is plain stupid. You are thinking from a scammer perspective. Legit traders will love to have a decentralized escrow system on top of a ranked system. There are tons of traders who make their living from this "business", buying/selling stuff on the internet. |
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Zimbeck is a very talented young man and it is sad to see that he ended up in assisting a shameful money collecting operation.
Well the jury's still quite out on Zimbeck... he seem to have had some talent... for chess. He ranked like 37th at some point I believe -which must be quite hard to do, but not difficult enough to make a living at it-, and he even published a book of chess puzzles ... that doesn't sell any copies either in print or digital form. Other than that, at 31, he's a total failure going nowhere soon having miserably failed at being an actor/model (he got to do a few sessions as an extra in movies and commercials), having even more miserably failed at being a "producer" - I believe somehow he produced a short film no one ever saw-, and even more miserable fail at being a photographer and, at 30, managed to see himself drowning on debt... which are not precisely the "achievements" of "..a very talented young man". The Black Halo protocol is one that no one uses, no one will ever do, that has brought to Blackcoin nothing but misery, since the price is stagnant at all time lows, 92% from ATH and quickly drifting to shit. Black Halo, smart contracts and Nightmarket or whatever other shit included. So the way I see it Zimbeck is just an opportunistic individual being paid by scammers -if not being the main one himself, which is the most likely-, to front a scam of pretty big proportions and that is already actively in progress but that, even as scams go, has been caught on time and, consequently, will be aborted in mid-progress. It HAS been aborted, already and Zimbeck and his employers are unable to keep unloading more than a very few BTC per day and at prices that will hit below 200 sat any time now. Since Zimbeck himself absolutely needs to get rid of his stack to cover debt, the unloading will continue and so will the price "progression", while this scam will quickly engross the checkered (pun fully intended) past of this questionably "talented" (relatively at 31 -- happy birthday, by the way...) young man. I was referring to the talent regarding mainly to the chess master role. Being an amateur chess player I appreciate the talent of accomplished chess masters. Apart from this, it seems your assessment is quite accurate. It seems David is a nice guy by default configuration, he just doesn't know what he is doing regarding to the Bitbay project, but this in the case of an ICO where peoples' money is involved could be a fatal mistake. A "nice guy" who hasn't worked a day in his 31 years of life and is in the habit of not paying his bills, THAT type of nice guy. By the way, have you read the just posted FAQs on the BitBay thread? That HAS TO BE the ultimate monument to raw, smoking, unadulterated bullshit... If after reading through that crap the dozen of "investors" still holding the ICO bags don't see clearly and get out of Dodge immediately, they will never see the difference between their asses and their heads. Wow. The mention of Non Disclosure Agreements with vendors is particularly hilarious, but the whole piece is just a riot beginning to end. But, still, I am puzzled as to how people may be so gullible and not see the evidence in front of them: Who is selling below the ICO price? Just answering that question with the minimum imaginable of common sense will give you the inevitable, obvious answer: There wouldn't be even a minimum market, none whatsoever. And yet they keep on pulling 15-20BTC daily out of the market selling way under 252. Guess who's selling at a "loss"? Remember they paid with the right hand and pocketed that payment with the left hand (first 33% of it, already in pocket. Another coming up in 4 days, the rest a bit later). It is ALL profit, no matter if they sell at 250, at 200 or at 25 sat or lower. All (minus BTER fees), profit, so the selling HAS to continue, no matter the price. Because David HAS TO pay his debts, remember? YOU (the bagholders) are actually paying them. you are just a two faced piece of shit maggot...you are only angry cause you played your hand in a wrong way, and did not sold your BC at the TOP  ))) some of your posts related to BC... "Some in the top 20 have been dumping in recent days, a few, 30k-50k BC. Nothing of significance, just not too strong hands."Ohh, look, you used to be such a strong hand in BC )) "By the way, outside of this forum, where I insist on being the sobering voice of reason and common sense, I am quite the cheerleader of BC... Nothing that makes me good, bad or in between, for I do for 2 fundamental reasons: I am heavily invested in BC, one; and two, I believe this coin has a chance of not only reaching much more higher levels but actually have a future... which is way more than many of the ra-ra children who post shit in this forum probably even fathom."What happened? You did not sold your coins high enough? Maybeeee.... 90K? Ohhh  . It saddens me...NOT! |
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Nice update, it will be interesting smart contracts this week!
Not only this week, i dont assume that we will see lower prices than they are now. We should touch around 3-4m marketcap with working smart contracts. |
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Hypothetical scenario:
Suppose Bob sells a guitar to Alice.
Both of them deposit the value in a shared account.
Bob gets the payment and notifies the system that all is good.
Alice does get the guitar and is satisfied with it. She however forgets to notify the system in order for the release of the amount from the double escrow account
The escrow times out and both of them loose money .
i.e:
alice has now payed x(Deposit) +x(money payed to bob) = 2x
and bob has nothing now => x(money received from alice ) - x(deposit) =0 [and the guitar is gone]
Is there a way to recover from that ?
Please note: I am a substantial investor in bitbay and believe it its future .. This is just a question ..not a fud:).
You can NEVER have a retarded-proof system. |
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Price on Bter is lower than the minimum offered price in th earlier sale. Why are the ones who bought now selling at a loss a few days past?
Nobody is selling. This is old game... Small volume, manipulating bots selling into their own buy orders, pushing the price down An easy game to accumulate coins from panic sellers. |
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hmm an interesting thing about Bitmessage. So on my i7 to send a 100K photo it takes 3 minutes! I'm not sure how I feel about this. Perhaps when we redesign it, we lower the proof of work. In the meantime should I warn how long it will take to send?
Even worse, on my employees old laptop a normal message without a photo took a couple minutes for him to send. Its good for stopping spam but with whitelists and burn we wont need this.
Also, if you guys want to give an opinion on this. I'm trying to finish some nice user friendly features. I'm not going get them all done for the demo. But trying to get as many as I can. Things left to do...
First time setup user friendly wizard
Pay to email
Automatic signing of joint expenses(I can skip some of these for the next update)
detailed contract panel UI
checking for stalled bitmessages and sending again(I have been wanting to do this one for a while)
paying multiple addresses different amounts in one TX in advanced send tab
export history to csv
Make the BitBay UI prettier. It would be nice to make it as sexy as the Halo wallet.
This should not take me too long these are minor aesthetic details. But it may take a few more days. I could release now but why rush great things.
What about an asset exchange in the future? |
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Trolls will be trolls.
Simply a waste of everyone's time.
The harder the trolling the better the coin is the experience of anyone who has been around this forum for a while. I guess it should make us confident. Don't fall for it though and not think they are just after lowering the price. Meanwhile.... *looks over at price*  it seems dev has given up on this coin. Last seen online 2 days ago. He sholdn't act like this when things look pretty grim Aren't you just a stupid monkey? David (dzimbeck) is the lead dev - Last Active: Today at 03:50:38 AM |
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"that very professional and seemingly hard working dev" such nice words. I can remember a half dozen posts of you just mercilessly shredding him.
Bob Bob Bob... When are you people gonna stop this shit with Bob already? Bob is nothing but a shitty scammer. That shithead got no money to be called a whale or serious investor at all. |
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here we go again. oooooooohh the blackhand!! the go-to scary conspiracy theory to explain all possible altcoin situations - no proof required!!
your style exactly.
Wow, such nice name, all of a sudden I'm "part" of some kind of whales gang? )) I invested big enough with this, my partner too. We have ~100 BTC in this. That's like ~3.3% from the total marketcap, and that's only from two investors. At first I said the same "devs bought into their own ICO" but that was just because I made some mistake thinking that the ICO started just few hours back, when in fact it was there for >3 days. I made my research regarding David, and 3000 BTC is nothing compared to that kid potential. Adding a good reputation to that skill, is worth a lot more than 3000 BTC. Anybody thinking something different, or falling for this conspiracy theory shit is a complete IDIOT. |
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Why the hell am I seeing "This user is currently ignored." all over this thread all of a sudden? The paid fudders army picked a new "target"?
Sad and poor little people...
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What was the IPO price on this coin?
- Total Coin Supply: 1 Billion - Starting Satoshi Price: 252-264 satoshi -Day 1 264-276 satoshi -Day 2 276-288 satoshi -Day 3 288-300 satoshi -Day 4 300 satoshi -Day 5 Price will go up 1 satoshi every 2 hours on the hour. Why are people selling below the IPO price, is this a failing coin, some problems? I just found this, will read through. A summary would be nice though. I can't believe people are asking this stupid question over and over again. Watching that almost non-existent volume should ring a freaking bell in your tiny brain, and make you comprehend how easy it easy to play withe the market, making some monkeys like you to sell in despair... Gosh |
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what about an asset exchange?
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Or maybe he is a mature man that doesn't hold others accountable for his investments loss.
So many immature boys in here doesn't take responsibility for their own actions.
Read qawzsx post history, he is a good man.
Could somebody try to explain to me why oh why would anybody sell so low after getting in on the ICO for at least 250sat?
My head is about to explode from trying to reason that. I know, panic sellers, but that doesn't explain the shear stupidity!
Simple, huge hands pushing the price down (creating panic because there are enough idiots out there) with small orders while accumulating from panic sellers... ^This guy gets it.  Well, not only that, I'm DOING it Look, they are cutting losses ))))) pro traders. Hope I can accumulate under 200 too. That would be nice Here's some post history for you. I quote --> "Well, not only that, I'm DOING it". What's the problem with manipulating the price on a new market, shaking weak hands out? I hate weak traders who get in and dump as soon as possible for quick buck. |
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There is no market manipulation, only people like me getting out... I dumper around 25k XC only yesterday. That was my last stash. I had enough of this, since Blocknet clearly killed this coin on a med-long-term approach. (This is only my point of view).
there are few strange things which notice that even the blind! 1. i saw your(if it was your) sell on Bittrex. 1.1 why you sold it all at once without even trying to place the sell order? This's good amount and great price! 1.2 why the buy order was excatly(+- few coins) the same as your sell order? In theory this is a great match! 2. after your sold you wrote on BTCTalk: i'm sad but I'll compensate it soon don't worry 2.1 if the guy lost 25 btc what you think he'll write - I'm so sad or !@#$% 2.2 usually if someone lost much this thing makes him an aversion and trying avoid but you are still here speaking with us as if nothing had happened. I bet you are the bait of Dan and Co!Maybe I have that many BTC, and this loss is nothing else for me but another wrong bet on the wrong tech... Why is this not a point for you? Anyway, back to your points... 1. Yes, that was my last stash, I sold at 60k, 50k, and my last stash was from 36k down to 30k. 1.1 I don't have the patience to place a sell order, I'm not that kind of player. 1.2 The buy order was NOT exactly as my sell order. There was a buy order for 6+ BTC at ~36k sat, etc 2. I never said I'm sad. I'm never sad about those kind of things. I'm sad when a friend or family member dies. This is just playing money. I said "sadly that blocknet fucked this up" 2.1 Believe me, I lost a lot more than 25 BTC from shits like asiacoin back then, when BTC had a lot more value against usd. I'll never cry for my loss, it's my decision after all. Bitching up is just pathetic. 2.2 Why should I stop speaking with you? I don't get it. That's my nature after all. I'm in the position to play silent whale, but I'm not that kind of guy. I like to say what I think. "I bet you are the bait of Dan and Co!" ... I don't get this at all... Go check the ~12 BTC buys on BAY from ~290 Sat to 330 sat yesterday. There is no bait this is real. I got rid of XC, and I'll not buy back with BlockNet out there.  And btw, I lost around 58 BTC from XC, not 25, if that amount is related to me. |
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BRING ME MORE SELL WALLS!!!! ... THIS IS MADNESS!
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It's just the whales keeping the price down so they can buy more.
From my experience, when people start saying that the coin is dead. Its an idiotic thing to say anyway - to artifically keep the price down you would have to be selling more than you buy, so you are saying that these 'whales' are selling coins because they want to buy coins, which is clearly foolish. What if they sell into their own buy! Just kidding ofc. I don't believe that the marked is being manipulated in any big way, If so I believe that the volume would show it. I think XC price is down because of the following factors (not in order): Mintpal crash Bitcoin Price Potential alt-coin marked disrupters like Ethereum and bitcoin side-chains. Not being shown on Bitcoinwisdom Successful paid FUD Campaign followed by drooling losers continuing FUD on the BTCTalk Thread Many new initiatives but few deliverables lately, more specific: New UI Mobile Wallet Blocknet - XBridge B2B hinted recently Of those above I think from a buyers perspective price is looking good. (I just increased my holding 20% back up to pre-blocknet release) * New UI won't rock price much, it is an important feature but not a differentiator, if it has any impact it will be price stabilization * Mobile Wallet, initially won't have much impact as it is not a differentiator but could be an enabler of the following. * Blocknet, Will be big, I predict that if Blocknet launches with a XBridge BTC wallet, XC could become one of the go-to mixing services for BTC. Blocknet is in a Duopoly with Supernet. Within blocknet it's a creation of a oligopoly for the involoved coins. the crypto alt-coin scene has had very low barriers to entry, this is the creation of such by service of trust, reputation and features. * B2B few coins has made the transition from a digital collectibles to real world application, this jumping the Chasm between early adopters and early mainstream is very hard and will be a very strong differentiator for XC. Dan is clearly not openly sharing his directions or visions as this market still is way to competitive with very low barriers to entry. I think this is wise, same goes for the opensource code, it will surely come when the market position is established. But it is also very clear by now that he has a long term plan with this, there are clear patterns in the products he releases and how they inter-service each other. It's a shame that investor relations are best managed on BTCtalk because this place user-base is rotten to the core. Hopefully we will get some peace when the next btc spike comes in a couple of weeks. There is no market manipulation, only people like me getting out... I dumper around 25k XC only yesterday. That was my last stash. I had enough of this, since Blocknet clearly killed this coin on a med-long-term approach. (This is only my point of view). |
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This is a 5 mill marketcap coin before the end of this year without problem...
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News from devs and price is 30k again:-) few pages ago someone said that xc is recovering:-D it would be nice not to see less than 30 ...
it'll be at 20 k next week, less than 10 k in 1 month, xc turns into an zombicoin  Sadly... That BlockNet shit burned it I got out with huge losses you made a mistake dumping now qawzsx buy back in till you are still in time. this the bottom. it will not reach 2k No, I've made no mistake...my new investment will bring back my losses a lot more faster compared to staying in XC and hoping Like I said, I don't feel like XC is going to meet my expectations anymore. BlockNet destroyed it from my point of view, that's one big flawed approach on developing things. I don't see why not: - keep XC as it is and transform it into something like BlockNet instead of creating a separate tech - XCurrency already had a proper name for such approach, and name the merging feature something like XBridge was enough - implement all blocknet features via sidechains - etc, etc Instead they decided to rush everything up in a new tech which make no sense. I really don't see how is XC relevant anymore. It's simple they needed more funds. I am still hopeful for xc although they should have had a full ledger for the premine being used. This time with blocknet funds there is to be a full ledger i understand. I think dan has recouped a ton of xc through the blocknet sale. Let's hope this motivates him to take XC further. The price is pretty shit right now. Let's hope they bring something out for block and XC pretty soon. We need the media sharing aspect of it live well before maidsafe. Neah, it's not about funds, they had enough funds since there was no proper marketing for this project at all. You can develop XC as it is right now without much funds, so I call this BS even if I was a strong hand in XC and a strong believer, but I needed to be real. My loss became real as soon as I decided to bail out, but so my time lose was real, having such amount of money blocked within a project which haven't moved for ~4 months. Lets be real, this is TINY development to be achieved in 4 months period. I was in only because of Dan, he IS very legit compared to other coins out there, and there are very few coins which can be trusted with med-term investment out there. 4-5 months is long-term already in crypto, and XC achieved nothing. I could not risk another 3-4 months to move 2-3x in marketcap, and I clearly see how flawed projects like BlockNet or SuperNet are. It's like Microsoft, Google, Apple, Etc merging their techs under one umbrella. That's crazy, we are not living in such world and human nature cannot support such approaches. This kind of approach will only bring failure at one point. |
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News from devs and price is 30k again:-) few pages ago someone said that xc is recovering:-D it would be nice not to see less than 30 ...
it'll be at 20 k next week, less than 10 k in 1 month, xc turns into an zombicoin Sadly... That BlockNet shit burned it I got out with huge losses you made a mistake dumping now qawzsx buy back in till you are still in time. this the bottom. it will not reach 2k No, I've made no mistake...my new investment will bring back my losses a lot more faster compared to staying in XC and hoping Like I said, I don't feel like XC is going to meet my expectations anymore. BlockNet destroyed it from my point of view, that's one big flawed approach on developing things. I respect your choice and I still disagree. what is your new investment if I may ask? I cannot talk about that unfortunately |
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News from devs and price is 30k again:-) few pages ago someone said that xc is recovering:-D it would be nice not to see less than 30 ...
it'll be at 20 k next week, less than 10 k in 1 month, xc turns into an zombicoin Sadly... That BlockNet shit burned it I got out with huge losses you made a mistake dumping now qawzsx buy back in till you are still in time. this the bottom. it will not reach 2k No, I've made no mistake...my new investment will bring back my losses a lot more faster compared to staying in XC and hoping Like I said, I don't feel like XC is going to meet my expectations anymore. BlockNet destroyed it from my point of view, that's one big flawed approach on developing things. I don't see why not: - keep XC as it is and transform it into something like BlockNet instead of creating a separate tech - XCurrency already had a proper name for such approach, and name the merging feature something like XBridge was enough - implement all blocknet features via sidechains - etc, etc Instead they decided to rush everything up in a new tech which make no sense. I really don't see how is XC relevant anymore. |
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