I disagree. This is not a logistical but a conceptual issue. What you have described is a workaround by asking users to comply with your work around in order to have the luxury of involving with a very-very complicated process. Anyway, thanks for answering, apart from the IoT part, your solution will be great and I have no doubt you will roll out an excellent smart contract system. I suggest don't involve the IoT it at all. Firstly people have no idea what is it so it doesn't mean anything :-)) and no one is investing in this because the IoT feature, but once someone take a closer look at it, the reaction will be that it is not acceptable for businesses and that reaction could cause more harm than good for the project. Your decentralized market solution is flawless, it is obviously a viable use case, but the hardware industry and hardware integrators will be taking apart the IoT concept and such publicity will hurt your and the project's reputation. I have been reading your posts most of the last two hours now, and I really do think you have a different conception of how IoT will evolve than most people. As stated elsewhere, IoT is in the 1st instance about connnecting the Things around one into ones lifestyle without having to manage them.The second phase is when these Things can begin to do your bidding with each other, ie the electric system keeps an eye on the floating electric spot price in the market and negotiates 24 hour leases - and pays with a IoT enabled architecture. Again a level of trust already there. The reasons for the blockchain - which you say is unnecessary - include among other things verifiable payments made, tax receipts etc. Your warnings to stay away from IoT escape me, why should anyone stay away from trying out innovative solutions on an enormous market? |
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I think, I also decided not to invest - except if the DEV answer my questions about real time hardware control and outlines how that will be possible at all with the Blackhalo solution?
I am mainly interested in the IoT offering, but it seems to me the IoT concept does not even exists on conceptual level. If there is not even conceptual solution, I can't see how this project will release a working, blockchain enabled, peer to peer Internet of Things software that controls hardware in real time.
I believe I already answered this, im not able to monitor this thread constantly because I'm usually working. But yeah you can do zero confirmations with multisig because your device or you hold the raw transaction. It depends on the application/hardware. Best that you give me some example or use case and I can explain to you how I would approach it. This isnt dissimilar from NightTrader multisig engine which I have made. I just dont have any front end for it. Controlling hardware in real time is fairly easy when you know multiple signatures are involved. Add this to checklocktimeverify and you can have outputs convert to different things based on blocks. Handling raw transactions where you hold the other signature can leave you secure with the fact that you can do zero confirmations. Thanks for your reply. I am familiar with the green address concept of Bitcoin that requires a third party and allows instant transactions and I believe you are not referring to that. So if your solution conceptually is not that, let see a concrete use case: open a gate in a sport venue where users uses their wallet to enter the venue and the gate controller device charges 10 BitBay coin for opening the gate. My understanding is, prior to opening the door the device must know if the 10 BitBay Coin is available for the buyer. The device must ensure the balance is available, it's not a double spending and it's a legitimate transaction, otherwise the door cannot be opened. Once the gate controller device is satisfied the balance is available, and only in that case it opens the gate. How long it takes for the device to verify if there is a sufficient balance on the address, because prior verifying the balance the gate cannot be opened? In other words, how long the user must stand for waiting the device perform the service? If you say so you worked out and willing to explain this I am sure that's the case that you will have a working solution :-)) Seems to me that is more of an automated payment system than the first wave of IoT - which is person-centric, that is connecting the devices around an individual to that individual's lifestyle. Or the second wave, which would be connecting the devices around a person to each other and outside suppliers. All the these things presuppose more familiarity than what you are proposing. |
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No functional wallet, no ICO please.
Read the OP. Wallet is condition of ICO. |
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Just checking in here, lots of good stuff the last couple pages. One thing that occurs to me, in today's climate there are some good reasons for investors in a large-scale decentralized market to wish to remain in the backround. Very good reasons.
I definitely understand people who have concerns about this; investing is serious business. And for the people who are not comfortable establishing their confidence on the basis of the project goals, the tech, the market niche & potential user base - it may well be a good decision to wait. Personally, given the turn-key licensing of Halo & a January release of the marketplace, I do not think the ico price will occur again. So probably a risk / reward situation for sure.
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Don't know if this has been addressed, but there was the idea that escrows that are forfitted due to non performance - instead of being burned - could be funneled to stakers, has this idea come any further in consideration?
Seems to me that would be one of several very attractive ways to reward investors / stakers who are in it from the beginning as BitBay begins to take off & gain millions of users.
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I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)
This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum? |
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Looks like this puppy got some legs. A lot of solid buys during the 1st hour. Evening time in China. Today is Chinese Singles day someone was saying on irc, biggest single online shopping day of the year in China.
Anyhow, Good AMA last night with Black Halo Dev. I am buying. Go BitBay : -)
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3000 btc is greed.
800btc is reasonable.
800 btc is far from enough to achieve the stated goals of this project. A working decentralized market with dedicated blockchain and built in smart contracts, that takes aim at Ebay and Alibaba? And you are thinking this can be achieved for the price of a used car? |
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this shit will die from very beginning.
Very articulate dotcoin. Perhaps you could reveal your trolling motivations. |
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Just amazing. The same people who moan about how terrible a scene the altcoin world is are the first to start trolling and calling 'shitcoin' at any perceived threat, in this case BitBay.
Just because BitBay will have an IOT aspect does not make it a threat. The IOT market is estimated at 30 billion over the next 10 years. There will be countless interfaces / access points to the IOT ecosystem. All you people having tizzie fits just because another project is integrating something that every project will soon integrate - relax. Stop being so threatened. Stop with the knee jerk trolling.
For the record I hold Tilecoin, and I will also research BitBay. My inclination is to invest in multiple avenues of IOT.
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Just one more clue that there is a Chinese angle here.
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This thread seems to be attracting heat from Tilecoin holders. Don't understand that. I hold Tilecoin, I think it's a very good project. However the focus of BitBay seems to be a much larger ecosystem. So I don't think it is a threat to Tilecoin. In anycase, IOT is going to heat up quickly in the coming year, so there will be alot more IOT focused projects coming out. No need to get upset about it.
Insofar as the marketcap & ICO, dev, will you be posting some of the dev budget? That would be very interesting to see. My guess is this would indicate both the scope and seriousness of BitBay. In anycase, the ann states that their target is to capture marketshare from some of these dinosaurs like Ebay and Ali Baba. This takes serious capital. I would be more worried about an ICO that was trying to do this with only 800 BTC like some people seem to be suggesting.
One of the problems so far in developing an fucntioning decentralized marketplace has been exactly this - a lack of capital and committed devs. My guess is that this will be how this project will be measured.
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This looks interesting. Does my ear decieve me or are you trying to avoid using the words EBay and AliBaba? Why not just come out and say it? About time there was a decentralized Chinese marketplace.
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Interesting, that is a well thought out business plan. Not sure if anyone really noticed, but the burn feature ensures that BitSwift scarcity will increase over time as its use rises. This is an excellent value proposition for investors, especially as one is not required to shift coins (like VIA's attempt at the same idea). So a 5 million count modular coin with built in burn towards scarcity. Sweet!
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I would encourage that we not start with new words (telepathy, and please please please not "magic send"). Is not teleporting still the main concept? It is an established term now, one that btcd is known for and alot of people are waiting on. Does this not suffice for the name?
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edit the config file in notepad, and be very careful to save it as "all files" not "txt file" in dialgue box. safest is to create a completely new notepad file that has never been saved as txt, paste in config, and save as all files / .conf
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Actually I think that's a bit much for a template. But congratulations fudsters for sniffing out the BitSwift web template! (if that is it, i did not bother looking) Oh the betrayal by BitSwift devs! Using a template instead of building an html website from scratch! That is a sure sign of ..... ummmm ......let's see .... basic common sense? ....
Enjoy the Canadian Thanksgiving, neighbors to the north! Looking forward to some good BitSwift dev releases in the coming week!
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wow, this thread has gone completely off the rails. many people playing the "good guys", trying to scare people into selling - why? - so they can get ahold of the coins ....
there seems to be no end to the fud here. romanian gangsters. guys named mother fudster. seriously ....?
the BitSwift devs finally did acknowlege the one key fact about the ico: that it was undercapitalized. well guess what. anyone with half a brain reading the ann thread leading up to the ico could see that, and could see this was a damn good buy. so you bet your sweet ass i had coins on the exchange, and bought my BitSwift right when it opened. and when i saw how fast it was selling out, i bought more. so did my mates.
so it would be pretty exotic if the romanian mafia was involved. but more boring, it was actually guys like me, or smarter than me. only downside is now we have to wade through endless pages of butthurt from people who did not do their research and missed the ico. and pages of fud from professional groups trying to scare people into dropping their coins.
it's a nice evening here in holland, i believe i'll go for a walk. clear the fud away.
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Well. I had btc ready to buy this coin because of the concept, the coin count, and the dev answering three of my pm's with specific and detailed replies. So all these theories of pump groups (coming from other pumpers, people who just dumped, and people who never bought) are quite entertaining to read.
I have picked up more now in the 30's and am quite happy with the current situation. I would remind the fudders they have their own thread, they can go play in there. :-)
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From has been described so far, the modules sound like basically block chain aspects that can be toggled on and off to give access to different usages of the BitSwift blockchain. Plus there is described a plug in structure that allows other devs (coins?) to plug into the system with extensions / apps.
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