The pegging works by balancing the wallet amounts based on present liquidity and votes, so depending on what the people want and the liquidity of Bitbay forces the coins in reserve to keep price stable. The reason you cannot see the trading on Latoken is because Bitbay is presently under maintenance, don't worry trading will resume soon.
I thought PEG is for whole network. Then why im my personal wallet I see BAY(R) 1059 and BAY(L) just 0.53? When I compare it with Latoken exchange I had almost same reserved BAY value 1016 and for liquidity 10 BAY. That means Latoken exchange have different rules or wallet? It is for the whole network, same system on exchange as wallet. |
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Hello, can I ask how that PEG works? Latoken/exchanges have different wallet like others people? At Latoken had 1016 BAY Reserved fund I got after some time transfered 10 BAY to liquidity fund. Here is screen from Latoken:  Now lets look to my personal wallet.  Reserved BAY 1059 and avaiable for liquidity just 0.53 BAY? Anyone else is able trade at Latoken exchange? Im getting only empty page when I search for BAY. The pegging works by balancing the wallet amounts based on present liquidity and votes, so depending on what the people want and the liquidity of Bitbay forces the coins in reserve to keep price stable. The reason you cannot see the trading on Latoken is because Bitbay is presently under maintenance, don't worry trading will resume soon. |
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Good to see you back on the forum   |
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Maybe we should email the editor and let them know about the peg release and BitBay as one of the oldest most developed projects. That's a great idea, I think if we can get the editor to give you a small interview, could be exactly what Bitbay needs now, to let the world know about your genius invention. I think all people need is a small lesson on this peg system, once they can understand it, they will see that is the future of Crypto. |
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I agree with you, very good article, thanks for sharing it |
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This is an exiting time in Bitbay history, things are about to explode, now is the time to buy |
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Interesting video, good to see such positive talk on Bitbay, I feel good things for the future with this project |
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Flawless transition on the new wallet, The Dev did a great job |
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What is the best Dex exchange for Bitbay?
Well anyone can use double deposit on our markets client. However for a full orderbook best chance is to list on Blocknet we just have to push the customized code updates for them That's sounds great, but tried to install wallet on Ubuntu and its got a format error, on the site showing every version of Linux except Debian base or I missed it. |
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What is the best Dex exchange for Bitbay?
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Hi guys What happens when I send Bitbay from desktop wallet to Latoken account. 1. On which type of address will I receive it? Reserve or Liquid? How to make sure receiving on Liquid address? 2. If received on Reserve address, can I send it to Liquid address on Latoken exchange itself? Latoken might have different deposit addresses even though liquid/reserve coins are simply determined by peg index and could in theory be sent to the same one, just deposit where they ask you to when depositing one or the other. Who asks in which address to deposit? I`m sending coins from my desktop wallet to my Latoken address. (BTW, liquid and reserve have same addresses in Latoken). How can I mention/instruct to send my coins from wallet to Latoken address, so that to make sure it`s received there on liquid address? When you send liquid coins to the address Latoken will register them as such. As you say its the same deposit address, should be fine. Thanks. I sent coins from desktop wallet "from Reserve to Liquid". So it will be received on liquid address, right? Also, how many block confirmation does it need? I`m waiting for almost 30 hours already, still not received.. 1127 confirmations already.. You cannot send reserve to liquid, it is controlled by the peg system. If you could do that it would defeat the whole purpose of this new code. |
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MY qt wallet is stuck at block 2591518, also tried a rescan but without any good result : anyone else or is it just me?
My wallet works fine, I suggest you remove all the files in Bitbay except the wallet.dat and re-download it, should fix the issue. |
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Trading is reopened on Latoken but the wallets still do not function, cannot deposit or withdraw Bitbay  , Hopefully they will resolve the wallet issue soon. |
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It appears as if LAToken decided it's too much hassle, even though we're almost there and they had already invested so much time.
What's our next step? Anybody?
Seems your (Sweat invested) statement turned out to be nothing, Latoken or another will all be the same, 3 exchanges have dropped Bitbay, I see the end in sight for this crypto Sorry "lucky", Latoken did NOT drop Bay, check you facts before you post crap. I apologize for that statement, was very frustrated with Latoken. |
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This was posted on Slack this morning:
Alysea 1:53 AM
Dear BitBay community,
On behalf of LATOKEN, we apologise for the delay with the reopening of trading.
We had planned to reopen trading in the previous week but unfortunately some new bugs sneaked in.
Thanks to the help of BAY community, we have been able to find these bugs and fix them.
Sadly this Monday, additional new bugs have been identified and need to be fixed.
Currently user balances should have been fixed. Two issues remain, one related to the opening of trading, the other related to BAYR deposits not being credited.
We are focusing on reopening trading first. Once this will be done, we will work on tracking down the deposits issue.
We understand the frustration caused by these delays and we are sorry that it takes longer than expected.
Thank you for your understanding and patience while we fix these remaining issues.
Special thanks to the community members helping us with testing regularly to get rid of these nasty bugs!
That's great news!!! |
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I have 1 question for the Dev, you run an exchange yourself, why not run Bitbay completely yourself on your own exchange at Bitbay.net?, would solve all the problems.
Oh people always get confused with that. I do not run BitBay exchange. That is a Polish company that was founded at the same time. Although we had more recognition than they did in the beginning. There was a lot of recommendations to rebrand but we never did as exchanges come and go. This was stated many times on our forums actually. Now with that said it would be nice if we did have a cash cow because if we had that kind of cash flow we wouldn't be in this situation. And thanks for clearing that up, I know you have been a supporter. Just was clarifying that we have done everything possible. Honestly, even I have lost some faith. Not in the ideas or the tech but just in the consumers and crypto space. It's really hard to stay motivated after everything we have been through. Thanks for explaining, they are not interested in taking on Bitbay? would be perfect with the same name and all. I was very frustrated with all that is going on but I still have faith Bitbay will rise up again from the ashes like the phoenix!!! |
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I have 1 question for the Dev, you run an exchange yourself, why not run Bitbay completely yourself on your own exchange at Bitbay.net?, would solve all the problems.
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