New BitBay faucet faucet.coin43.com/bitbay1 - 2 BAY every 30 minutes pls support faucet and consider donating, direct faucet wallet address available on website Thanks! Saved the link. |
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As a former ebay seller the dawn of decentralized markets is exciting. I am still curious whether the pegging can work or not though, the idea of buying a million coins for a few hundred dollars and becoming a millionaire overnight seems impossible, but then again Bitcoin proved anything is possible.
Its actually perfectly simple, Bitcoin is not actually deflationary. it introduces about 10% extra coins per year. Most POS are inflationary. However, the theory here is, we have inflation and deflation and the people who hold bitbay work as a decentralized reserve. They can spend a percentage of their coins based on inflation and deflation rates. Thus in theory, we could deflate the billion coins 99.9999% and have only 1 coin liquid and peg the coin to $1 with $1. So basically with decentralized control of supply we can always match volume and demand. |
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Is there an official bootstrap file to quickly grab the blockchain for BAY?
I've checked and am unable to find one. If you find one let me know. Perhaps i can upload one to my server. |
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The markets have been in private tests for several days. There will be a full public release in a couple days or we can wait for all of the "user friendly templates" to be completed. Its up to you guys. The templates may take a couple weeks. NightTrader is one of them. NT may take an extra couple weeks though to get more coins on the exchange and see if i can run spv clients.
I would much prefer that we wait for a product that includes usable templates, a product that people can just use immediately. If the non-tech-savvy market get hold of it in a not-quite-ready-for-them state, I believe most will not bother to keep track of developments to find out when it is in a state that is relevant for them. People have limited disposable time. You need to hit them with a product that simply works. That, when they try it out, they grasp immediately, with no need for head scratching, no need to think about what bolts on where, no need to think "Oh ok that's not quite ready but I'm happy to wait until it is." You've been working on this for a long time David. Why rush the final stage ? Give the ecosystem as complete a product as you possibly can. Well if I wait, I really need BC people to start testing it. I posted on reddit however got few testers and really didnt see anyone accept my offers. Its funny, i posted free coins in the markets (about $2 each). I can raise that amount even. Most of the tests come from Jean Marc(Lanthan) and I. However, we need to know that it works on ALL Linux platforms and ALL Mac platforms. So we need a good amount of testers. |
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One of the many reasons people will want to use Blackcoin over Bitcoin is NightTrader exchange will be able to perform the escrows much faster with Blackcoin as the security deposit. Realize since they are deposits, volatility wont matter at all. You only need BC to leverage the microtrader.
Is it necessary to wait for confirmation(s) before the trade can occur? How big of a risk do you estimate it would be to accept zero confirm collaterals? Depends on if you can access the mempool for that coin. For example, if you are on Bitcoin, Bitcoin is centralized. Instead of waiting for confirmations, you can assume it will be ok as long as the TX is in one of the mempools for the top mining rigs. However, i really dont recommend zero confirmations. Just because if anyone realizes this, they will work hard to exploit it even if only once. Even a mining pool can see we are doing this and profit off it. Regardless, all that matters is that you know the trade is going through. I think we can confidently wait for one confirmation. Perhaps we should let the users specify this in their offer? |
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is blackcoin dying?  Rat4 is still doing commits to Blackcoin. And I'm also making software and working daily on Blackcoin. BlackHalo will have NightTrader decentralized exchange very soon. I recommend people support this amazing coin. Blackcoin does also have decentralized markets now. The only coins in the world to have this is Blackcoin Bitcoin and Bitbay. Those markets are perfectly trustless, they dont use arbiters and leverage smart contracts. This party is just about to get started. The markets have been in private tests for several days. There will be a full public release in a couple days or we can wait for all of the "user friendly templates" to be completed. Its up to you guys. The templates may take a couple weeks. NightTrader is one of them. NT may take an extra couple weeks though to get more coins on the exchange and see if i can run spv clients. One of the many reasons people will want to use Blackcoin over Bitcoin is NightTrader exchange will be able to perform the escrows much faster with Blackcoin as the security deposit. Realize since they are deposits, volatility wont matter at all. You only need BC to leverage the microtrader. |
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Can someone tell me - does Bithalo require you to download the whole bitcoin blockchain?
I downloaded it but I can't see any indication that its synching either on Bithalo or blackhalo mode. I just want to have a play and test out the smart contracts so getting either one working would be ok, but I'd prefer to use bitcoin.
No it does not. BitHalo uses 3 different apis Blockchain.info, Biteasy and Electrum. BlackHalo does download the blockchain. I may give BitHalo users the option to download the blockchain in the future. |
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Cool .. Well the current scenario looks like this.
Darkcoin is being rebranded to DASH(Digital Cash). So that it would reach a wider audience. However the anonymity features are as is. They have also developed IntantX for trust-less transactions.
Monero is holding its own. However it looks like a lot of Monero bag holders are trying to fud and troll the Darkcoin thread simply because its being re-branded. (I am not following monero, so I would not know what their roadmap is)
Why would they rebrand? Darkcoin is a fine name. They should focus on what they do best, being anon and innovative imho. In theory DRK isnt trustless because you can still track the blockchain mixer by watching the outputs. I think it would be fairly easy to write a script to reverse it. Hell, if they really wanted anon, they should try zero knowledge proof. Thats like the holy grail. I know Shadow tried it but i dont think they succeeded but i could be wrong. Monero shouldnt fud DRK, they are using totally different approaches to anon. Anyways, hopefully i can extend more Halo software. The thing is, I like to give out software and give the coin that I extend it to something unique. Something that is their own. For example, Blackcoin has NightTrader exchange. BitBay has pegging. Dogecoin would have a custom "WOW" client and I've got a few cool ideas for something unique to give them. So yeah, if I was going to give DRK something I would want to distinguish it from what we do here. |
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Gabriel, if you really followed us in Blackcoin then you would know the markets are available in BlackHalo already. If you look at my recent post in reddit you would know that. Both BitBay and BlackHalo have been testing to make sure both Mac and Linux are working. You know that i frequently mention BC on here so im not sure why you dont contact me on reddit. I'm always available there. This is the post where I told BC markets were available. http://www.reddit.com/r/blackcoin/comments/2ywcc3/blackhalo_markets_and_feedback/You can get those links if you PM me I will make them publically available in a couple days once we update BitHalo.org and BlackHalo.info. Edit: there was a request by some people in the Blackcoin community telling me to wait a few weeks until i finish the user friendly templates. |
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Just trying to remember .. you did mention that Darkcoin will also be accepted by the Decentralized Marketplace you are creating .. correct?
I said that? haha. Well I was planning on giving Dogecoin a Halo. However, the decentralized exchange NightTrader will support at least Doge and Dark. I have thought about giving an anon coin a Halo so i considered byte, dark, monero and shadow. But in not certain who has the best anon. I thought the best anon was monero(?), correct me if im wrong. Giving out Halo software there was a bit of a waiting list. A lot of coins would ask for it but that was months ago and my license fee was pretty high. The license fee can and will be lowered after the release of NightTraders decentralized exchange(but not necessarily for full halo software). Nonetheless, the fee to get on that exchange will be different from the ones who get Halos. So to clarify, Doge was the first in line to be considered for a full marketplace and Halo. DRK and Doge is being considered for NightTrader pairings. I've discussed privately the possibility for DRK as a Halo however their distribution was a concern and there is debate over who has the best anon functions, but its still on my mind. Actually, Halo is much more anon because the trades on Halo/NightTrader arent linked (entirely different blockchains). Other than that no other coins were considered. Most likely, any coins that want a spot on the decentralized exchange should contact me to get on the waiting list. there may be a fee because it requires a lot of work to change their source code and build it to make it so Halo can run it because Halo uses a special branch of Bitcoin called "watchonly". That fee will be set in stone later after the NightTrader exchange is complete. |
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Oh, i almost forgot the most important point about Open Bazaar vs BitBay/Halo.
Open Bazaar uses arbiters and that simply does not work. Because an arbiter would have a key to the transaction, they could easily collude with themselves
to take bitcoins. Even more dangerous is the arbiters are simply bitcoin addresses and totally anon. If they choose to be the arbiters themselves then OB only serves as centralized escrow and therefore is definitely not decentralized markets. Also, arbiters cant prove who is lying during a dispute and are no more useful than closing your eyes and randomly picking a winner. Or, you would need a very biased policy like ebay. However, OB is more dangerous because unlike ebay, they can actually collude with themselves and take their own escrows. OB did express some interest in the Halo escrows once we open source however they are also defensive of their model. Im not exactly sure why though, after all centralization/3rd parties is exactly what we are trying to avoid so why use arbiters? I would be more than happy to show them how to do these escrows because i believe in smart contracts and double deposit escrow. Perhaps when we are all not so busy.
Bitbay and BitHalo/BlackHalo don't use any of this. Instead of course, they use unbreakable smart contracts. Two party escrow. And because its a smart contract we can completely automate the entire buying process. Additionally, its not limited to sale of goods but can also perform barter and decentralized exchange as well as cash wires which OB definitely cant do. So the fact that there is a smart contracting system integrated into it makes it truly decentralized.
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I fully subscribe to your opinion, especially this phrase This space will only succeed if we all work together. yes I agree     I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea). I would disagree with that statement. Especially in an opensource environment often 'first' is the only thing you can ever really claim... because 10 minutes later 'only' isn't true any longer. Not to mention that a huge amount of the argument for BTC in the first place is that very reason - despite thousands of alt-coins. The important thing is not to use leverage or deceit to be able to hold on to 'only'... because that is much more destructive to progress than a thousand people all screaming 'first' at the same time.  JMHO of course. Yeah im not clammoring to say ive got the first public markets. There is a couple others in the space already either in alpha or perhaps beta. Even if we were the first its so close to say that its moot point. Regardless, its awesome and exciting. We have bad-ass decentralized markets! And best of all, our tests showed no bugs. I will get a public release available once we get an updated landing page or at least within a few days. |
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Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers.
Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind.
On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run.
Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader.
However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!"
Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space).
You are right. I wish them all the best. And as you were stating... It's already happening -> https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/Granted this has already happened in the past on a smaller scale and failed: http://cryptome.org/jya/digicrash.htmI think this news will actually work in favor for decentralized coins. They (IBM and Feds) have an "unlimited" (joke) cash resource available to market the system to everybody, and as more people get involved, the sooner the "viral" breach hits. The new users will wake up to the incentive behind the decentralized systems already in existence. I can't wait to see the day when the Fed reserve (yet again) decides to print out 1 trillion more fake dollars or digital cash and watch the price skyrocket on the decentralized coins. Heck, who knows, maybe one day cryptocurrency will eventually force governments to actually run efficient for once. The fed prints way more than 1 trillion from the infinite nothingness. You should see some of the chilling youtube videos about money coming from thin air. Bernake and Greenspan etc would always pull 9-10 trillion a year from thin air for black projects. Military overspends at least 90% on their budgets to disguise embezzlement and black budget projects. They have infinite money and would make Bill Gates look like a welfare recipient. Money doesnt exist, its a belief. |
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Any future update from BitBay decentralized marketplace? what's the difference with that OpenBazaar? Thank you very much! How OpenBazaar is Using Bitcoin to Build a Decentralized eBayhttp://www.coindesk.com/openbazaar-bitcoin-build-decentralised-ebay/What began as an award-winning concept for a peer-to-peer (P2P) marketplace could turn into a revolution in e-commerce. OpenBazaar is set to take the stage at this weekend's Bitcoin in the Beltway conference, a Washington, DC-based event that will bring together digital currency leaders and thinkers including Charlie Shrem and Vitalik Buterin. There, project maintainer Brian Hoffman will lead a discussion on the much-hyped decentralized market project. Well, I have met the OB guys they seem really nice. Also I read through OBs stuff and it seems like people set up their own little markets and use a direct ip/torrent system. I would like to be corrected if im wrong on that, i was not able to find so much resources explaining how they decentralize The way Halo does is definitely 100% decentralized. First of all, your public key is used as your identity so you cant lie to the market. Everyone records what they see as an internal reputation system. The decentralized markets are built on modified Bitmessage channels. This allows for serverless markets. Also, bloat isnt an issue since there is no blockchain in Bitmessage. Instead nodes share messages that they store for 48 hours. Private markets can be created. Its completely anonymous however there is two moderation keys giving us the ability to keep the markets clean. A sort of "decentralized moderation" OB goes to a lot of conferences. I used to do that with Halo but realized i would rather be building things than marketing. The product will market itself by being awesome.  |
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Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?
Or is Bitbay currently open for public use?
Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on. http://wiki.nxtcrypto.org/wiki/Marketplacehttp://nxtfreemarket.com/Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other. Competition is good and hopefully will result in a better over-all user experience in the long run. I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success. As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on. LOL, Nxt coin is about "the" most complex coin in existence!!! But hey, I guess us layman should suck it up and understand it's rules if we are to respect it. I was lost on trying to learn the maZe of NXT that 10 people or so created and demanded that if you don't stake you will be penalized - on top of it's "asset" spinoffs!! NXT's future is limited because its structure was created by people who have no concept of a simple, reasonable reality for the basic wallet holder/user. NXT is for people with PHD's in computer science!" Why the hell do coins need asset spinoffs? Bitbay can simplify all that - and I don't need a PHd in computer science to understand it!! Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers. Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind. On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run. Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader. However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!" Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space). |
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Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?
Or is Bitbay currently open for public use?
Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on. http://wiki.nxtcrypto.org/wiki/Marketplacehttp://nxtfreemarket.com/Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other. Competition is good and hopefully will result in a better over-all user experience in the long run. I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success. As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on. |
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Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?
Or is Bitbay currently open for public use?
BitBay is open for public use, just let me know what platform you are on and i can PM a link. We are in the process of making sure Linux and Mac run smooth and getting a new landing page for the website and then can put a download on there. I'm looking into Syscoin Blockmarket. This is very interesting project. Can you explain to me how its decentralized? I checked their website and its not easy to navigate. I wish there was more explanation on their project. They don't seem to have any contracts system. Anyways, if so, hats off to them. I know that Open Bazaar was in private tests but no public release. In many ways, only BitBay and Blackcoin knew this release was coming so soon. Regardless, BitHalo was the first smart contracts and we've been around for almost a year now (May 29th release). So I can say that these markets that run in BitBay are not only decentralized, but extremely user friendly and have built in unbreakable smart contracts which can be used for sale of goods, employment, barter etc. What excites me is double deposit escrow since arbiters/middle men arent needed. (its 2 party escrow/ true smart contracts) Anyways, I would be happy to know more about what syscoin had developed. I always thought it was so awesome how they went after that Green guy from Mintpal. If you are friends tell them I said hello and wish them good luck on their project. |
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i still using wallet v1.0.0
forgot that i still have this coin
what version right now
The qt-wallet in the OP is the correct version. However you may also test/download the new BitBay client with markets which is different from the qt. However, the markets client is just testing until we confirm linux and mac are also running perfectly (so far so good). |
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wow..that's great.
So bitbay has a decentralized exchange platform now?
Decentralized markets and yes, you can perform decentralized exchange by microtrading. Now I'm working on templates that automatically perform those types of contracts to make it really friendly. Once the templates finish even someones mom can use it and know nothing about crypto. Using BitBay you can now employ, hire, barter, trade, whatever. There is no servers, no escrow, no arbiters who dispute unfairly and no point of failure. Totally decentralized however there is several moderator keys and a basic reputation system. The only templates available are custom templates so make sure to make deposits even to the amount for most deals unless its barter then make them equal and trade half the value under it. For example, if microtrading make the deposits 1000 and trade 500 at a time etc. There is technically unlimited kinds of contracts and templates will make it easier to understand all the uses for it. |
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Hey I just wanted to say thanks. Its good to have the support and comments like this really helps me stay motivated. Thank you.
David.. i invest all my money in bitbay. Last 4 month was complicated time(BOB MUST DIE) but now i believe in a great future of BitBay! Keep On Doing What You Do please Thank you very much from top30 bitbay holder Thank you for the support. We are testing the markets privately on slack if you are interested for a copy PM me. We are posting small amounts of free coins on there. It reminds me of one of my favorite quotes from the movie "The Princess Bride" ... "We are men of action, lies do not become us" With that said my only goal is to meet the promises of pegging and markets and software releases in a timely fashion. We were a few weeks past the self-imposed deadline but its worth it to see the markets working. |
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