It's fucking working: https://bter.com/trade/nbt_btc

This.

I can't understand how such unrelated concepts could become entangled - markets and coin mechanics. You can't control a market with an algo. Buyers decide prices not algos and there's no point in restricting supply if there are no buyers.

This concept of pegging is seen from the perspective that the currency concerned is *exclusive*. i.e. it's the only currency in the world and the market has to use it because it has to have liquidity. In that case - yes, this approach would work. But what's missing from the model is that this isn't the only currency. If buyers don't want to pay a dollar per coin for Bitbay they'll just use another currency that only costs them a cent per coin instead.

If they don't want to pay a dollar per coin for smart contracts then they'll just use another coin that costs a cent per coin for smart contracts.

I can only see one scenario where this type of "pegging" algo could work and that's where there is some broader commercial context where the use of this coin is mandatory - i.e. the buyer cannot purchase the item they want without using Bitbay. For that to happen you need massive pre-existing and well established marketplaces to adopt because it won't be possible to "grow" them due to said demand deficiancy from peoepl not wnating to pay a dollar a coin as described above.

But I've seen no allusion to such large scale commercial markets. It's not specified anywhere as part of the project plan or even as part of the pegging model (which it should be because control over supply is useless without a corresponding level of demand if you want to "fix" a price).

David, I suggest you to ignore those fucktards and don't waste one freaking second to post on those threads. Anybody know them already. That's what they are, that's their limit. Don't bother

And P.S. You fucktards, get your things straight, Botshitplus is nothing but a low life scammer, not some whale or shit how the bunch of you believe he is. Just a poor canadian scammer. Nothing more.

As posted, indirectly he is. He's the one calling the shots.

Very easy to not being called liar: Don't tell lies. Or half truths.

Did you see my post regarding Broadcasting?

I had set up smart contract yesterday and it's still showing as "Broadcasting" in pending offer. How long does it normally take to go through?

Could be something I did?

GoDaddy is quite possibly the worst host on the planet so you should cut ties with them anyway IMO.

Oo hm that's some serious shit 

Keep in mind this thing was done in rush because people kept asking for it to release over & over. There are going to be issues and there are going to some things lacking. If people had patience we could've had perfect wallet. Also, don't forget it got released within 20 days of launch. That's the fastest any coin has EVER delivered. Name one coin that has delivered something as good within 20 days? I can't think of any.

There are going to be issues and those things should've been expected. I'm sure they'll be fixed when marketplace launches. Whole point of releasing wallet before marketplace is so everyone can  test and come with their issues so that can be fixed before marketplace gets released.

Great David, and unfortunately the fact that you are the public figure will make your life very-very difficult in the coming months - except that you can make some damage limitation by trying to be transparent and in my opinion you are doing the right thing by being transparent.

On the technicality note, actually I am quite interested in the pegging model, I have read the Nubits white paper and while it's not in the league of Buterin of Gavin Wood, and while it's not clear yet whether the pegging could work at all, it's a quite interesting piece of material. Could you please push a public link of the c++ source? I have over a few decades c++ experience under my belt and just as a pure professional interest it would be great to see the implementation details of Nubits.

Thanks David for clarifying about your payment. It still doesn't make sense terms of the figures as you have mentioned earlier a very different figure, and I really don't want to be pedantic about 100-200 BTC differences, but the few legit investors who put their hard earned cash into your project has the right to know about the expenditure of the ICO fund and at least you are - unlike the Bitbay team - trying to be transparent about it.

It's not my role to tell you what to do, but since this scam will be obvious for everyone very soon and there will be quite a few very-very unhappy people it's your primary interest to come forward with transparent information. I think everyone understand that you are passionate about your software and you want your hard work to be widely used, still probably it's not the best way to realize your dream via an association with a very shady project. Do you really need to give your name to such a project and its thread? The moderated thread, the deleted posts, the army of secondary, third and newbie nicks mobilized by the Bitbay team that desperately trying to hype the project is the sign of a proper scam and since you have been in the altcoin business for long you know it very well what's happening there is the sign of a proper scam. Do you really need to associate your name with such a desperate money collecting party? You are a very intelligent individual, how can you be part of a project when the investors are presented with such a tragicomic professional team bio, like Nico from Russia who loves dog and Holly from Taiwan who has the family - this is the team who supposed to build a 1 billion $ business and take on eBay, however investors can't know more about them because there's an alleged NDA in place. Please ... such bullocks don't even acceptable in an Uganda based ponzy scheme ... how can you accept such project handling in your venture? We understand the nature of this altcoin market, but your Bitbay project takes the bullocks to the very highest level and you have an active role in this.

It's clear that you are very unhappy about this operation, you expected a different attitude from the Bitbay team in many aspects of the project. In my opinion it is better if you are vocal about the issues, because if you don't then you mislead a few legit investors who put their money into your project.


   

I think we have an issue here :-)))  Since I have a very different figure from David, David Zimbeck was either not truthful with you or me. I have a lot higher payment figure than the 100 BTC you mentioned. It would be great to get clarification from David how much he received for "licensing" and developing the software. I never asked him how much here received, you never asked him as well, but since here revealed it and the figures are different it would be great to get some transparent clarification from him - mainly to establish his trustworthiness.

I would disagree on Bob. Once he advertise that he is buying, up to this date never happened that he buys - when he says he buys in fact he is dumping already. I don't see why this natural method of a P&D operator would be different with Bitbay.

For the purpose of this thread, the coding abilities of Zimbeck are totally irrelevant. He could be a genial coder or the clumsiest one and still wouldn't make the slightest difference since he is the ONLY real name behind the BAY scam and, therefore, the responsible party for the losses of those who trusted him and decided to invest in the scam. THAT is the point of this thread, not his abilities.

And yes he has been quite open here... while still misleading investors in the official BAY thread, which is underhanded and the opposite of honorable behavior.

And the mods will not either lol