Well P/D is never an answer to any Dev. Thats for sure.  But pumper will pump and dumper will poof.    But I have faith in Dev to carry through rough water just as he said in his previous post.  Time to relax and stop biting nails.  

It will be jittery ride to 10k. Time to sit back, relax and open a bottle of beer.

absolutely agree.  We been teetering at the bottom and real action is yet to begin.  I am sure to enjoy this ride just as Crave did.

I think 7k is easy. Hopping for 25k~~

Perfect timing for double bottom on 4k satoshi. Thanks dev. Am glad picked up more at 4k level.

Yupp. I totally agree.  I will be taking profits from VRC, which is going crazy now and move into Bitbay.  I just hope it will stay low for a while.

lol sure if I come out alive..

yupp picked up 40k at 5000 satoshi. Another 40k at 4000 and 80k or more at 3000.   I will be rich soon.....;0

Well I still have my doubts and like you have mentioned, history does not bod well for currency pegging.  What makes this time different? I don't know.  Munti have better grasp on situation so I won't argue anymore.  But some how this reminds me of Bern Bernanke saying QE is not money printing. 

But actually my main point was to kick the can down the road.  Our worry should be on success of market penetration.  Not just appreciation on value of Bitbay, but having wallet installed on every pcs out there.  And people actually using the contract system to buy and sell.  By itself is tough sell.  Complicating the matter with other distractions such as pegging etc is detrimental and unnecessary complication imho.  It is tough getting used contract system itself. I had trouble understanding it.  My wife would never understand it.  If I tell her, you gotta double down and could lose it all, they she would  it sounds risky.  If I tell here some of coins can be frozen then she would call me crazy or worse dumb.

Apple is apple because my wife and kids can use it. Simple and intuitive.   Lets put currency pegging on the road map.  Let wider audience hear about it later on.  Then it can be decided to incorporate into platform or not.

Thanks guys, been very interesting conversation.  Hope write some more tomorrow. 

Ok.

Just sent a 250k donation to the address.

I will continue to think about ramification regarding currency control.  The point I like about bitcoin is that its non inflationary and out of reach from money printing central bankers.  Pegging to dollar is like taking a step backward. 

Please remember that 2011 happened.  2009 crash happened.  Oil shock happened.  Things happen thats beyond our imagination and expectations.  Alan Greenspan said all is well and subprime mortgage happened.  People taking out double mortgage, I knew it was all going down bad and it did.  Its just common sense.

Anyway, I am not totally against it, after reading your posts, but till remain cautious. 

thanks.

Well thanks Munti, its puts better light on the subject.  Currency is big step and frankly a great experimentation.  It may work or may not.  Its hard to foresee and anticipate what nature could be throwing at you. 

I get a nagging feeling that we are talking about sprinting when we haven't learned to walk.    My gut feeling or educated guess would be to first ready and launch the platform and do a implementation down the load.  I don't see why this has to be rushed or included in initial rollout.  Pegging is innovative idea and as you put it, will start low and slow anyway.  Let see how platform performs and see that client base grow.  Maybe at that point, this crucial decision to implement currency control can be made.

Investors and users expect decentralized market place.  Thats what Bitbay name stands for.  Lets give them that first and grow from there.  This seems more prudent approach. 

sent pm.

Thanks for invitation but not sure if I am good enough know how to be any help.  Not even sure what slack does or for.  LoL.  Also is that bitcoin address or Bitbay address?  I will make 250k bitbay or equivalent donation.  Ain't much but hope it help revamping the face of Bitbay.

As for pegging system, I do not quite fully understand but it will be pegged to dollar?  And supply of Bitbay will be controlled by locking them in wallet or releasing them?  I do like the concept of stability on the Bitbay so that advertised price on contract stays same value, however I do see few of problem.

First, dollar isn't stable.  Its floating fiat currency just like any others like yuan yen or euros.  In us market no problem, but in international market, value of dollar fluctuates.  US dollar is somewhat stable now and hold world reserve currency status, but for how long?  USA is trillions in debt and can't increase interest rate higher than 1% which will crush the gov budget?  US gov, as any other major government out there, will have no choice to keep inflationary policy to lessen its debt load way  way way into future.  Its position as world reserve currency and petro dollar is weakening.  In fact IMF is proposing SDR or new world currency to replace US dollar. So if you are looking out 10 years down the road, this could be problem.

Second, the implementation of control on Bitbay.  How will you lock the supply?  Meaning I can't spend it?  Chee thanks alot.  Locking Bitbay will lower its supply and price goes up relative to dollar.  But when everyone goes crazy about Bitbay and wants to have some, Bitbay will get stronger in terms of dollar.  Then you can either release the supply of Bitbay from  wallet or bring down the supply of dollar, which we know isn't option.  But if all the Bitbays from wallets are released and demand is still too strong, Bitbay will go up higher in exchanges, via btc purchases, thus imbalance could ensue.  This also could happen if dollar value plumets, however unlikely it is.

I am sure you have thought about all this already, but I think it should be given more consideration before implemented.  Maybe  Bitbay 5.0?

For now, exchange ratio can be shown on wallet in Bitbay, BTC and dollar?    As for the problem of seller constantly needing to readjust its price, maybe let them sell in any of three,  bitbay, btc, or dollar.  And buyer will have to make calculation on exchange rate.  

In general many worlds currencies were tied to one another, like dollars and euros with mixed results.  Recently, I think switzerland unpegged from euros and saw its value wildly appreciate against euros and other currencies, causing  major disruption.

Overall I am bit pessimistic about it.  

In other words "NO".  All we have is fancy brochure.   

I am waiting for miner to panic sell.  I hear they go crazy sometimes and have very very weak hands...

My hash is whopping 5.4mh.  Dont think makes difference.  When will CCex price drop to my 5k satoshi buy order?   I want some before PoS.

if.


Well only been couple days now? incommunicado?  I will give dev few more days.  This wasn't ICO or anything and don't see any sign of scam. 

I agree, QTZ has been flawless in pow/pos stage.  If dev comes back, it should go higher into 2k range and higher if his crappy roadmap is updated.  Either way, it has double dipped and bottom attained. imho.

shake shake burger time.  Hold on to you EKN or will fall into my pockets.... 

Lol.  You have done a amazing job for one man show.  I was particularly impressed how installation proceeded like a software, unlike other  crypto mumbojumbos.  Only other wallet worthy of mention is VRC.  And yes I understand "simple" can be complicated on coding part.  And thats why Apple stands out.  But you need to remember Apple started out of garage, and its their product philosophy or rather Steve Jobs, that carried them all this years.  

Good to hear that contract/trading platform is fully functional.  But you will always have this problem.  No products listed, no one will buy.  No buyers so no one will list.  Its chicken and egg problem.  All other auctions sites failed because of this.  Only Ebay stands strong because its monopolistic presence reinforces itself.

Unless you are targeting corporation/business market, you would need to do mass marketing.  Either tried and true marketing blitz which cost lots of money or something like viral marketing.  Either way, its full time work and doubt if you can do it all alone, coding, relations, marketing etc etc.

Or, price goes up. All problem solved.  When people realize what a solid wallet you have, they will be thrilled.  But first they need to come and rising price will get their attention.

Perhaps Bitbay coin price fluctuation isn't your concern and it shouldn't be, but remember more supporters you have, more help you will have and words can spread faster.  I myself only came about your coin during my routine 700 pages coin chart scan.  Other wise, I would have never heard of it.  Trust me, price goes up, boards will be filled and more converts will show up.  Some of them might even start lending hands or donations or start listing contracts.  Who knows.

I know for sure at least beefed up OP page will help.  Use lots of cool graphics and plainly laid out road map with past accomplishments.  Put in dates too if possible.  Basically its same information but laid out better with cooler graphics.  Check out EKN op page ( https://bitcointalk.org/index.php?topic=1019681.0 ).  Mostly its copycat vaporware with thin promises, not like Bitbay with solid product, and yet I bought in for quick ride because I know crowds will buy into it.  I bet you EKN will be has been in few months with missing dev.  But point is, people are people and they like cool looking stuff.  Just look how long EKNs OP page is.  Picture tells thousand words, and this is reason why corportions spends billions on marketing, letting people know what a great product they have.  

I am willing to donate some coins for graphic artist to "renovate" OP, and list some item when "template" is finished and off the beta status.  

It seems to me that perhaps you are perfectionist, trait that I admire, but seriously consider bring out the core product out of beta, cut out all the excess for future development, laid it out on roadmap on revamped OP page.  At least this will clearly show advanced wallet that you have.  Right now, you don't even have screen shot of beta wallet.  sigh.

I am speculator/investor so I do not mind dips( actually I love it), but clearer presentation will benefit whole community.  Bitbay is one of my few long term holds and will add more when I see dips and funds become available.