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yes i just went and voted for it on cryptsy right now.
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Two-party escrow. What a great idea!
This is much like an old and tested way of doing business on the street. You want some product or service, let's say the price is $20. You tear a $20 bill in half, give half to the provider of the goods or service and keep the other half. Then the bill is of no value to either of you. When the contract is fulfilled you give the provider the other half. That practice works because you cannot profit by screwing anyone; all you will gain is an enemy if you do that, and you will lose the ability to do business again.
Now to do it online requires just a little modification. One reason is that the consequences of making an anonymous enemy on the internet are not significant, it's not like you are going to get cornered one day and get your ass kicked like you do on the street. The other is that you are more likely to come in contact with someone who has a non-financial motivation for screwing someone online, such as a moral objection to some type of business done on the Shadow market. So False Seller creates a listing to sell something for 100 SDT. He puts up 100 SDT of his own funds to escrow. True Buyer sends False Seller 100 SDT and puts 100 SDT into escrow. Nothing is ever delivered. False Seller gets his 100 SDT back from True Buyer, plus he gets his jollies knowing he screwed that immoral True Buyer out of 200 SDT and it cost him only listing and transaction fees.
In order to make this work against such an actor there has to be a way to make the escrow amount significantly higher than the purchase amount. Let's say each party had to put 200 SDT into escrow, it is far less likely someone would be willing to lose 100 SDT to screw someone else out of 300 SDT.
My preference to this is actually we stick to the original mechanics so.. Buyer - puts up 1x deposit + 1x purchase price Seller - puts up 1x deposit + item All goes into a multi-sig transaction that has say "30days" to settle after which neither party gets back anything (if either party tries to con the other). Instead the entire multi-sig balance gets spent as a "fee" and the miner of the next blocks get a nice bonus ... This will ensure that its impractical for the seller or buyer to gain a financial advantage by being dishonest... Example Item on sale : GPU @ $300 i.e. 300 SDC
Buyer and Seller agree sale.
Buyer - 300 SDC deposit + 300 SDC purchase price
Seller - 300 SDC deposit + send item
after 30 days (as defined)
Buyer - forfeits his 300 SDC deposit + 300 SDC purchase price = 600 SDC loss
Seller - forfeits his 300 SDC deposit + did not send item = 300 SDC loss
Neither party has gained anything by doing this transaction .. both parties forfeit a minimum of 300SDC and the buyer forfeits 600SDC.
after 30 days (as defined)
Buyer - forfeits his 300 SDC deposit + received item = 300 SDC loss
Seller - forfeits his 300 SDC deposit + sent item 300 SDC = 600 SDC loss
Neither party has gained anything by doing this transaction either .. both parties forfeit a minimum of 300SDC and the seller forfeits 600SDC.
It would also be nice to have a way for all in the community to know how much money ends up permanently sequestered in escrow, and in what listings. That will give us an idea of the actual money supply, and also of what kind of listings are problematic.
Linking an item sale to a transaction is a big no no - this is a privacy focused solution so why would we leak such data? This is system currently being used on Bitbay and it's successful ,yes this should be used . It make the deal even when a trade is in progress. |
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Bitbay is moving up the rankings because it's holding its BTC ratio while everything around it doesn't as Bitcoin dollar value appreciates.
yes i see that too i also tell people about it and their three people i know so far very interested in buying bitbays. |
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Unconfirm transaction for three days is the whole green address system down. Has anybody trasfered bitcoin since then ?
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Sorry, I edited my post to late.
- After starting the program, what bitbay processes are showing in your task manager?
- What language did you click on in the select language window?
- In the Bitbay program file, you should see a file called crashlog.dat You should PM David - Dzimbeck. He should give you an email address where you could send him the crashlog.dat so he could review it
- On task manager processes - it shows " bitbay.exe - Selected language - English I have tried to uninstall bitbay from my computer, it says " the set up files are corrupted. Please obtain a new copy of the program " I had trouble with opening the client once before you can try deleting all the bitbay file in the bitbay fold except for the key files and install the op file had the cilent up and running for me . |
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Thanks for the post Healthhealer!
Lol, that would be the day!
Sure , we will work on it to be the day. |
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Meditate on this guys.   |
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from what i read new wallet features are going to be insane. way to go dev team.  Yes the client being fitted with new templetes more direct contracts for selling and buying items, with shipping options worldwide |
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Bitbay one the best DM i been testing so far there few cons but nothing to bad I am also thinking about writing a blog about bitbay but I still in between writing others blogs so it take some time.  Yes link it here if you write the blog. |
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Loving this volume! David should have a new update released very soon. I'm getting closer and closer to finishing a blog about the few decentralized marketplaces in development and nearing release. It will be completely unbiased, as promised to the publisher. Currently testing out all the various payment options built into the client and will release blogs to the website bitbay.market after tests are complete Good things coming to Bay!  Yes i have been testing the system too very impressive .Have some other payment channles built in to the client,Its never ending |
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I'm starting to think the best way to tackle this is to write a blog exclusively for each payment option
yeah their should just be a list some where on the forum with just the links and then remove the links and add guides, that will be the hard part but one by one we be the less stressful way. The list should also be separated by counties . The reason i chose moneygram, western union was because they are in many, many countries. Wire, direct deposit(if both countries have something like hsbc) and cash in the mail always works too. Yeah that moneygram and western union are in many countries but the "other" option you made now locally in many, many counties people can trade anonymously and secured. The options are now endless, locals will know a payment method their familiar with and use it but this time it will be doubled deposited . |
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I'm starting to think the best way to tackle this is to write a blog exclusively for each payment option
yeah their should just be a list some where on the forum with just the links and then remove the links and add guides, that will be the hard part but one by one we be the less stressful way. The list should also be separated by counties . |
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Found a really cool link to help US citizens bypass coinbase.
Popmoney.com
Perfect application for the Bitbay Client!
yeah there so many option with the new sell and buy coin option in the Bitibay client that users can also use www.venmo.com it is a free us bank to bank transmitter they also would transfer money using your credit card or debit card with 3 % charge. |
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This is a really brilliant use case for two party escrow! Good idea. Thats great that you know Rife, very few people knew who he was. And he is like probably one of the most brilliant minds to disappear. There was similar concepts like the one by Kanzius who was injecting cancer with metals and using microwaves. He was able to light water on fire using special frequencies. And im trying to remember the guy who did some unbelievable things with metals and objects using frequencies. This was like in the very corner of the internet... the dude was causing objects to do some insane things. Then there is other "claims" of frequencies being used for things like Coral Castle which I've seen in person twice but those are much harder to verify. The book on Rife I actually own and have read a lot of it they say that the problem was to harm the industry fake devices started flooding the market and FDA had to "ban" resonance frequency. Of course like all things, this just is so familiar. I've also been to the Zeiss microscopy at Heidelburg where they said Rife got his honorary Phd and watched they microscope and compared it to what Rife was doing. And you know what? Rife was literally 100s of times better than anything we have even today. So one reason his work is so hard to replicate is because nobody has access to microscopes and labs of the quality his was! Nonetheless, people are trying to replicate his work. Heidelburg now has a new program with a similar theory for making specific drug cocktails for the person instead of using broad spectrum drugs which are obviously useless. This new idea of drugs made specific to the person shares an idea with Rife but of course its not as good. I heard there was preliminary success and of course it will never hit the market. My belief/dream is that 3d printing is one of the worlds most important technologies because once you cant print electronics from home they can be open sourced and we will finally know once and for all what can and cannot be done. I'm not sure it will ever get as advanced as complex crystals and microscopes and frequency devices but you never know. Kanzius is a new name to me will check him out, i head of separating the hydrogen from water and igniting that but not with a frequency that will be cool to see. I think i know the video you are taking about with the frequency i have to look for it , i do have this link https://youtu.be/wvJAgrUBF4wYes Rife microscope is even more advance then the current electron microscopes i guess when your doing good thing for humanity the universe upload to you the most advance information or you can decode the most advance information. I think what you mean by cocktail drug is something call homeopathic medicine , i head that your urine does that, that is why they say urinate on your self when you get a jelly fish stink because the anti venom is in your urine. I am sure their is stuff more complex but just we're not aware of it yet . Radionic is something i can think of but im sure their more . Ok i will pm you here or on slack dont want to spam the forum with none btc stuff. |
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This is a very great idea. The possibility are endless .The double deposit escrow will change the world by allowing suppress technology that exist (free energy, health technology ect) could be sold anonymously with out having to risk the safety of the inventors and securing the buyer from fake products.
Are you familiar with Royal Raymond Rife? He was like the Nicola Tesla of biology. He made the worlds most powerful microscope in the 20s and cured almost everything using frequencies (like an opera singer breaking a glass) and then he was propagandized until he disappeared. His work was never forgotten and made a revival on the internet but I'm not sure anyone has replicated the work yet. Check him out, he deserved the Nobel Prize an unsung hero. yes im familiar with both Tesla and Royal Raymond Rife. Rife had installments that could find the frequency of a parasite and amplify that signal killing the parasite but leaving all living cell around it alive, just like a microwave has the frequency of water to heat up only water. Now devices are being sold for thousands of dollars but they never have a refund policy so you can never test them first because their more then likely not real Rife technology. A halo contract will always give the buyer the time to test the device which would likely eliminate fake technology. Their are other inventors that we don't even know about because there technology will disturb big business but will liberate humanity. |
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I haven't checked this thread in a long time. Still holding my bitbay from ICO. Glad to see all new information in OP!!
Good job guys!
Thanks man! Gonna try a new faucet feature built into the client: We are going to post a new marketplace so you guys can learn to join a new bitmessage 'chan' or channel. This marketplace will be called 'Bitbay Faucet' if you want to join you can simply go to the "Market" tab of the Client an click on the Add/Join Market feature. A window will pop-up asking you to type in the market you wish to add or join - type Bitbay Faucet We will have 50 contracts (in multiples of 10) where we are selling 1000 coins each. If you accept our offer, we will ignore the cost to pay the amount in fiat. Meaning they are free coins. Yet only one offer valid per bitmessage address - meaning you can't buy multiple contracts! We will keep track of the addresses so if you try to create a duplicate wallet to try and beat the system. We will catch you trying and write a negative review in your multiple addresses! Who knows... in the future we might create more faucet marketplace channels! We will also post this new faucet concept to bitbay.market forum and to BCT! We hope you enjoy your experience learning the new Client UI Wallet! Since you've received these coins for free. We ask that you can also return the favor and try to add your own faucet contracts to the same marketplace address/chan This is a very great idea. The possibility are endless .The double deposit escrow will change the world by allowing suppress technology that exist (free energy, health technology ect) could be sold anonymously with out having to risk the safety of the inventors and securing the buyer from fake products. |
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hi i have paid for Subscription more them 4 hours ago and i still have not had my account upgrade. my bitcoin payment address is 1EMrUM8vQfSWjnUN5XaJPof3oD8yob1hYV
Hi, have answered you in PM. thanks for the help its working now |
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hi i have paid for Subscription more them 4 hours ago and i still have not had my account upgrade. my bitcoin payment address is 1EMrUM8vQfSWjnUN5XaJPof3oD8yob1hYV
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Will my old blockchain work with the new QT wallet from OP or I must do resync?
Your wallet.dat file will work with the current qt wallet . Just download the new qt waller on bitbaymarket.net and you should have wallet.dat which you will move to the your file path location that was created from the new qt wallet. If you need help finding that location just let the cummunity know and someone will help you. |
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