Everyone clamoring for BAY to be listed... you do realize that the devs haven't released source yet right? Kind of hard for anyone to even evaluate listing without it.
thanks,
richie@bittrex
Yeah you guys will get it. Everyone just relax, the team is getting this to them ASAP. |
|
|
|
David 1) Has contact been made with Peter? or Sergio http://coinspect.co/services2) Plans to add to BTCHINA or Huobi? 3) Any thoughts on contacting Skycoin to see want collaboration can be done? 4) Any thoughts on contacting Trezor to make it Bitbay compatible so you have the security of Bitbay and the security of the computer using it? @Bitbay can chime in on #2 Trezor is not needed. I can hide keys in JPEG or PNG and then there are two keys and you can store them on two different computers or a flash drive. Also, its possible to have hardware for the second key. |
|
|
|
Just picked up another 17,000 BAY, I cannot believe what people are selling thier coins for. Why would anyone want to let their coins go at or below what try paid at ICO? Or is this just buy/sell support to stabilize the price till the market picks up and figures out what an extraordinary potential this coin/community this is!
Think of it as a gift. Don't worry about them. Just silently build up your stash.  Everyone here knows what is going to happen. And when it happens... holy !$%. Getting cheap coins is competitive dont be surprised if people try to get them cheap. I will tell you guys what I can do. I can try to get a DEMO wallet out for smart contracts in Bay. I will do that before completing my work on markets. |
|
|
|
Fantastic job guys!! Wow I'm so amazed you actually performed zero with ring. Excellent job. Wishing the best in your BETA. Was holding Shadow since day one.  Let me elaborate. ANYONE reading this thread, drop what you are doing and buy this coin. It will pass DRK. Absolutely fantastic. Selling this coin before it breaks top 10 is a big mistake. |
|
|
|
Fantastic job guys!! Wow I'm so amazed you actually performed zero with ring. Excellent job. Wishing the best in your BETA. Was holding Shadow since day one. |
|
|
|
@David,
Why not reach out to Skycoin dev and see if you guys can collaborate?
Good idea. However, I can only do one thing at a time. Also there was another question about Peter Todd and he didnt get back to me. The other company listed was interesting for audits. I will have to do this at some point right now we are very busy. |
|
|
|
who's the hell that sold their coin under ico,..
Who do you think?  Owners are buying their own ICO, and then selling it, it doesn't cost any money for them, so it is pure profit. All those Big ICO are fake. Will always crash. Look at BLOCK, look at MNE.... This isn't true. I talk to them every day. They are part of this for long term. Not just a few months. The owner wants to be involved for 1-2 years at least. |
|
|
|
will you guys ever build a forum as amazing as bitsharetalk....using btctalk as main place of discussion is amateur
kinda amateur for big chinese investor to go to btctalk for info esp after 3000 btc If you don't like BTC talk then why are you on it fishing for business? if you want new users to bitbay, a thread here is not acceptable. a dedicated forum is needed to grow the community who agrees, quote me A dedicated forum for BitBay is needed, but is not easy to build. Maybe the team should consider it?? For now use reddits r/BitBay we will try to get a website with a community portal! This can have live bounties, bitcointalk community member of the month etc. I will add to project manager. |
|
|
|
|
Only Halo is in Python, the coin is C++ fork of Blackcoin. The pegging will be in c++. Python will daemon in until i reverse it to C
|
|
|
|
How anonymous/decentralized is the marketplace going to be? With being closed source at launch.. I'm guessing nsa nodes/backdoors all over the place  Thanks for the humor Rocoro : -) As you guys all know, we are serious about changing the landscape of how people interact on the internet. BitBay is about giving people the freedom to buy and sell regardless of what country they live in. When we say join the revolution, we mean it. If government agencies want to get involved, they will have to buy BitBay first. : -) And by all accounts, David is going to make it expensive for them to do so : -) So it's not going to be open source then? It is, its only obfuscated python to prevent easy deciphering of logic. It is done this way for audits and protection from lazy cloners. An advanced coder should be able to understand it. One day I will remove the obfuscation too and put it on github. But at least you can check for back doors. |
|
|
|
I know this might seem uneducated question.. but i don't see anything about when a person can mine this.. or if they can.. or if there is any pools.. or if you can mine with wallet etc.. anyone enlighten me.. and be nice cause im not gonna read thru 60 pages of fud to find out..
We will get a multipool. Also, this will be even more effective when the price is pegged and make really good volume and arbitrage. |
|
|
|
Somebody who bought 80 BTC worth is selling to bring the price lower so he can buy more at cheaper price and then pump it. It's more profitable that way. If you are interested in the coin and the project why worry about short term goal?
If you sell lower than ICO price that whale will buy it and then you're going to complain about how you lost money when it's really your fault. Don't sell before this project is completed.
This is correct, everyone remember, there are guys out there that really want cheap coins. They know that there is markets and a plan to peg the coin they will try to do what it takes. Dont be surprised how competitive this gets. The point of a peg is to eliminate volatility and restore ECONOMY. That is the goal. So these next few months will be a lot of fun trading. Keep your hands strong. The goal is to make the price irrelevant. Clever traders will know that and act accordingly. |
|
|
|
Are you bitbay devs bying cheap coins back at these prices?
No way, there isnt any time for us to buy/trade this coin. Everyone on the team is more focused on working. |
|
|
|
lol what genious sells immediately below ICO price  oh man, that was just hilarious... somebody wants cheap coins pretty bad. |
|
|
|
Impossible, you cant dump lower than the availabe supply vs volume. The liquidity would vanish and the frozen funds would not move until arbitrage was made off your short sell and since there is a buy wall that exceeds the total active supply, they instantly profit off your mistake. |
|
|
|
Regarding how the developers get the ICO fund, I would suggest a weekly payment based on the quality of update and github submission.
Meanwhile, if the release of the BitBay wallet is nothing but a simple clone of Blackcoin and BlackHalo, I don't think it could worth more than 10 BTC.
Of course, more BTC could be reimburshed for reasonable advertising cost, etc.
To make it simple, no work no pay. If the team runs away, the rest of the fund could be returned to the investors or used to hire another team.
If all the fund is given to this team who just produces a simple clone of Blackcoin and BlackHalo, I believe the team might have a strong motivation to take the money and run away. It is not difficult to produce a clone of Blackcoin and BlackHalo (which just worth 10 BTC), but it is really difficult to finish the rest of the roadmap (2990 BTC work).
Not difficult hey?! You go ahead and write BitHalo from scratch. When you finish you will know that the price for its is easily 100 BTC. That software is mind numbingly complicated. 10 BTC is nothing. Thats not even enough to pay for a month of bills in the US. Lol it took me 4 months of coding just to release my beta. And then we worked our ass off for 4 months marketing flying all over the planet and you think its 10 BTC? If you think its so easy, go write a Halo clone and do all the legwork to grow it for a year and sell it for 10BTC. Whilst i agree your work is worth easily 100BTC+, you have to remember that you are not selling, you are allowing them to use it right? I like BC and hope that you will get a large chunk of btc for letting them use it. The more BTC feeding back to black coin is good. HOWEVER his point is kind of valid regarding slowly releasing funds in chunks for work produced or at the very least a ledger showing what the funds are required for. These ito ico if run properly can produce the results they want whilst giving the investors some kind of assurances. 10 Btc is far too small but 100 BTC per week is getting rather more reasonable. If a large chunk of work was produced up to 250BTC per week could be released. I mean the ledger should be able to show where the funds are being used. I don't think that is too unreasonable. Yeah this makes a lot of sense. To be honest, i was just a total mess total my nerves were wrecked hoping everyone would be honoring their words. But everyone was totally punctual, I'm meeting one of the members in person in a couple weeks and could not be happier with Bays performance and that of the other members. So we shall see how it plays out. We are making an operating budget and dont forget, we need that buy wall too. So its just a matter of being pragmatic. How many devs can we prepare in time, who works on what. Most likely I'm going to draw out an entire plan of how we structure the next month and what tasks to delegate. |
|
|
|
|
After markets and markets are going to be done the end of the year. How do I know? Because I was the only coder and there is already lots of things hard coded in to make it happen. BUT there is going to be a lot more after release. Fine tuning the trust system, calculating risk, adding more features. It never ends. This is the Half-Life 2 of software. Except you play as we build. So lets say 3-4 months.
Another guy asked about BlackHalo. And if you guys have been following this thread. I'm the biggest BC bull out there. BC gets the markets first actually. They get their own exchange NightTrader. Then i have another special idea in store. But going to avoid discussing it until all this work is done. So lots of excisting things in store.
|
|
|
|
Regarding how the developers get the ICO fund, I would suggest a weekly payment based on the quality of update and github submission.
Meanwhile, if the release of the BitBay wallet is nothing but a simple clone of Blackcoin and BlackHalo, I don't think it could worth more than 10 BTC.
Of course, more BTC could be reimburshed for reasonable advertising cost, etc.
To make it simple, no work no pay. If the team runs away, the rest of the fund could be returned to the investors or used to hire another team.
If all the fund is given to this team who just produces a simple clone of Blackcoin and BlackHalo, I believe the team might have a strong motivation to take the money and run away. It is not difficult to produce a clone of Blackcoin and BlackHalo (which just worth 10 BTC), but it is really difficult to finish the rest of the roadmap (2990 BTC work).
Not difficult hey?! You go ahead and write BitHalo from scratch. When you finish you will know that the price for its is easily 100 BTC. That software is mind numbingly complicated. 10 BTC is nothing. Thats not even enough to pay for a month of bills in the US. Lol it took me 4 months of coding just to release my beta. And then we worked our ass off for 4 months marketing flying all over the planet and you think its 10 BTC? If you think its so easy, go write a Halo clone and do all the legwork to grow it for a year and sell it for 10BTC. |
|
|
|
Correct me if I am wrong because I have been thinking about this the past few days. Before Nubits launched, they requested some large investors specifically for 'parking' and that is how they were able to achieve a non volatile price from the onset. Bit bay is doing the ssame thing but the 'parking' is going to come from the people who bought in at the ICO (and/or whoever has sufficiently participated in the subsequent trading period in the next few months). It's essentially the same process but the 'large investors' are more spread out here.
Is that close to correct?
If so, then the hedging to a dollar or some other price is really just a matter of coding if I understand correctly - along with a properly placed marketplace. The hedging is required to create a non volatile Bay (the currency) by which goods can be purchased with confidence. I'm just ruminating in this second paragraph and if this is the case then I think that there is reason to take this project seriously from an investor perspective since it seems like all of this is geared to provide a forum for vendors to begin seriously selling within the marketplace and that is where we will see adoption and increased money flow.
If I am not too far off the mark...it seems brilliant and almost as if real world application decided that the crypto tech was sufficiently advanced to take advantage of for a very real business venture.
You sir are 100% correct. YOU are the backers. Once volume increases money circulates and you profit. The speed of the money determines the speed you cash out. But you have to be careful to not sell too low. If you do, someone will IMMEDIATELY buy your coins and sell into the wall at BTER! I think this is different from NuBits, in this case we control circulation speed. Parking is not optional. Its mandatory. Its all based on math. So if you have 1000 dollars in liquidity and the speed of the circle is 5% a month, next month you may have 950 dollars in liquid and 50 off market. You were not given the choice it just happened naturally. Think of it like being forced to invest by the network. That speed is controlled. So we will all profit but as a company. We need to grow our company in size to increase the speed of the wheel!! If too many sell, the wheel stops and waits for buyers to force a market correction because the backers need to make arbitrage in order to return their investment of the buy wall. We will set that wall and use statistics from BTER to calculate the rate of the wheel. |
|
|
|
Guys I am excited as you are but....1$ a coin? Really?
Do you realize how flawed that is? That would mean everyone who bought a few BTC worth would be millionaires. Logistics fail?
Anyway, great innovative platform...but let's stop floating in the clouds and stay grounded here.
It IS possible. I can prove it in a video which I will show this on a whiteboard and we will make many videos professionally describing the economic theory. We will fork and immediately freeze assets. However the funds available will be a small fraction of the frozen supply. Think of how ripple has 99% off the market. Well we will be similar. Except the "market" will be all of YOU. Mathematically, if there is only 1 million coins on market and a 2 million dollar buy wall at .95 cents. If everyone sells into the wall they give all the money to the people at the wall. Now any volume has to be higher. This forces arbitrage!! Now the people at the buy wall profit instantly because they suck up all the volume at .97 cents!!! Now you may ask, if your funds are frozen what is the USE?? First of all the use is, as the market grows so does volume so we allow faster circulation. People from the frozen side move to the liquidity side. People from the liquid side move to the frozen side. This happens very slowly. We have the option to decrease or increase this speed. Much like a wheel. Therefore, its almost the way the US Government controls price. They use money sink holes to suck money out and then allow money to circulate. They have the ability to depress or inject. Here instead of faking it like most govs do, we do it by freezing and unfreezing or like NuBits calls it, parking. However, in this case we ALL FORM THAT BODY. So this is very similar to decentralized governance? Dont believe me? Do the math. Take 10 dollars but remove nine. Place a buy wall at one and a sell wall at two. Make the supply one dollar. If the full supply sells, the buy wall at one profits because any new volume must now buy at the higher price. The arbitrage allows people to pull pure profit. If they see losses, the circulation stops and nobody new gets in to sell. If the volume increases the circulation increases and economy has been stimulated. ADD THIS TO THE FACT that there is a market!! This market encourages spending! And with spending invigorates volume which allows for faster circulations of funds. So its like an engine of money. The only thing that it responds to is volume but not price. The higher volume the faster the wheel moves. But this can be calculated by the sell and buy walls. We know when those walls get hit, that we should be decreasing or increasing supply. We also know when the walls get hit that we need to be increasing speed for volume. Thus, price and volume is invigorated by economy alone, the money is backed and volatility gone. Kid, you're smart, hope you won't get bored and keep shooting this up for the long-term More overwhelmed than anything. Have to stop being a coder and start being a manager. Its a funny transition because I'm always compelled to do the work. This project is just too much fun to get bored. |
|
|
|
|
Show Posts
