Any new updates?

Wow.  I came back from a data center meeting and this Paul guy got named not once, but twice!!! Also Paul is portrayed to be a LEADER.  ENERGETIC. The best months came after PAUL? PAUL must be fucking AMAZING!!  I wonder what else this Paul guy can do, he sounds powerful and knowledgeable.  You all must high respects for this person.


So the data center meeting went well.  I learned a few things about all the other services they offer, ISP, SIP trunking, main interconnection for Rogers Canada cellular.  We spoke regarding the future of technology and shared great ideas block chain based technology integrating into business.  I had the pleasure to educate all of them on the finer details of SWIFT.  The beer at the pub we were at tasted fantastic.

I paid everyone's meal and drinks with (SWIFT) (this part is a joke). Smiley

Apparently the data center has expanded greatly since last I talked to the Manager there (whom I must admit is a very good friend with lots of business connections).  

Here are the specs:

-10 Locations all across Canada (all sites image each other, these sites are used for disaster recovery purposes by govt and enterprises all across Canada - yes they are 100% certified to do so) (Not sure if systems like Storj or the other solutions can be certified for this purpose)

-100 % Scale-able - 4 Million SWIFT = 4 Petabytes of Storage - BitSwift can accommodate that no problem

-All communication with the Backup Servers is conducted through a secured SOAP/XML interface.   Each request is signed by a unique signature per user. This offers an extra security layer on top of SSL, which not only protects the transfer of the data, but also secures the total integrity between client and server processes.

-All backup data through SwiftBackup is encrypted using AES (Advanced Encryption Standard) 256 bit encryption technology. The backup data is only transferred to the Backup Servers once it’s been encrypted on the clients machine. The encryption key is only known by the end-user, so nobody but the end-user can open the backup data on SwiftBackup servers.

-SwiftBackup Software, Infrastructure and the rest of our Service is in compliance with all industry best practices and Canadian privacy legislation as per the PIPEDA Legislation.

-SwiftBakup is in compliance with the HIPAA (Health Insurance Portability and Accountability Act) which was enacted by US Congress to protect sensitive Medical Information. The guidelines in the act clearly state storage, retention and security required to protect the information and SwiftBackup ensures we follow the guidelines fully.

-Advanced and detailed logging and alerting features.

-Easy Web Based portal to manage everything. (Logs, Alerts, Restore, Policies)

-Bit level incremental backups that provide a low bandwidth solution to protecting your data. Only the updated changes are transferred and stored in the backup to ensure no costly overhead for transferring the data. Retention times can also be set to ensure amalgamation of good data without taking up an over abundance of space on the servers.

The best thing about this all though.  Is that when people use SwiftBackup, the network will reward everyone on the network.  

I wonder what other services BitSwift has that rewards everyone when used?

We will find out when the low life's continue their bed tie story.   Continue on please...

As usual,  thank you for the FREE advertising.

More please.

-BitSwift

LMAO...

Hahhahhhaha......

Sorry to have turned your faith but the scamming lying dev/project manager David is in a world of whoopass...

Yes, we did. We learned to be patient and to support the Dev team....

So, in the end you only care how much your coin is worth. As I said, you don't think long term. You can't ask for stability within a young market without proper distribution.

You are very wrong. This is not about pump and dump. Pumps and dumps are nothing but freemarkets. You are better with FIAT if you don't like pump and dumps, or with GOLD. Pumps and dumps are still creating distribution, which result in more healthy market.

To limit the volume in both ways is a BIG mistake. Yes you don't have your evil pump and dumps that everyone fear, but in the same time you won't have distribution.

Whales are no the problem my friend into this market right now. I invested around 50 BTC into this. Do you consider me a whale? I don't consider myself a whale. Whales are not a problem within a 400k marketcap coin. Whales starts to be a problem from 10m marketcap coin because they can damage the coin.

This volatility is generated by daytraders. This is a new kind of game.

In the past, the things worked differently. They changed the game.

- They are not pumping the markets with bots anymore, they are creating volatility and they are milking BTC out of the market. BUT this is working only on fresh markets with low distribution. That's why we don't see those 2-3x price increase after the ICO. Because the players don't make money like this anymore if everybody expects to dump for 2-3x ASAP after the ICO ends.

Believe me, a coin will die as soon as the distribution stops. With a pegging system so early present, the distribution will stop very fast. The tech will come, but new investors will not wait days to invest few BTC. They will look for another investment. And this is how you kill the coin.

yes ,,NOW I BELIVE THIS COIN WILL BE HUGE IN THE FUTURE,,,I WILL BUY NOW...

If anyone has every followed a software development project, be it a website, a game or an app you know that shit WILL happen. There's going to be bugs, there's going to be down-time and there's going to be all kinds of weird stuff going on.  At any of those moments there's a huge financial incentive for people to start screaming that the sky is falling. You can make a ton of money by shaking people up like that. We're not seeing this going on at Blackcoin even though they're both in the same boat. Both coins will benefit once Nighttrader takes off. It's all the other coins that will lose out on this new step being taken.  

Currently Bitbay is the perfect chewtoy. The trolls will come out of the woodwork at every tiny hiccup and see how far they can exacerbate it.

It won't stay like this for long though. As the whole thing takes root it will become stable and quick gains based on predictable yet jittery prices will be less common. The pump groups know that. They know that currently they're in their haydays so they're going full throttle on opportunities like this.

I'm not really angry at them trying to make a profit either this way either. What is a concern though is that it obstructs the discussion and testing feedback. That slows development down and that's unacceptable.

Another point to add to toknormal's about volume/price - which is why the current prices don't bother me (with just limited trading I'm scoring a ton of free BAY so I'm delighted actually - despite the 'loss' of my ICO coins in value).

In the early stages of a project, especially a software project, there are a ton of bumps in the road.  In crypto you couple this with a ton of manipulation and volatility and FUD and there is a ton of money to be gained/lost, all before anything really can be seen in a polished state.  These are all speculation bids for a future which may not be fully realized for years (even BTC is a baby in terms of real-world adoption).

On the other hand, since BAY has not been 'pumped' or artificially supported - as some have called for - we have a situation where all of the coins have a very small profit horizon.  By that I mean that if you believe this is more than a $1M project - ever - then it should be easy to see profits just from a price perspective.  Many people hold BTC they bought at over $800... so for it to best it's ATH price will be difficult and require a large infusion of new capital as selling pressure will be significant.  For BC it's even more the case - it would take close to a miracle for it to ever get over 50-60K sats again (although as most of those buyers have probably given up and sold at a loss the average price paid for the entire mintage is probably lower than this).

It's a weird trend in crypto that I've noticed over the past couple years trading it... people will often sell coins at a loss (when you should never sell) and will hold on to coins that have seen a parabolic rise in price (when you should always sell).  With BAY all the price has to do is crest ~295 sats (except for the few that bought during the tiny bump to ~310 after the markets opened)... and everyone holding it is in the profits.  Although it might take a little marketing to 'restore' the ICO hype at that point, it won't take very much at all considering the low volumes and sideways price action we've seen the past week.

To me I didn't buy into this coin because of the market price - I just trade everything, especially early on, because that's how I make more BTC to invest in these coins in the first place.  I invested in the concept with BAY, and to a lesser extent, in David as a developer - because I've seen promise in his work and work ethic.  He's hungry and an entrepreneur... and those are the only two qualities that really matter much in new business ventures.

Time will tell who is right and who is wrong - but you either take risks and participate, or you guarantee that you stay exactly the same as you were yesterday.  

I don't think this is a very constructive attitude.

Value is a relative concept. That's why markets exist - to reconcile your sense of value with everyone else's.

You're asking people not to sell just so that the coin price can reflect your subjective sense of its valuation. Traders are selling at low prices because they can. And the reason they can is because there's not enough commercial viability in this project to remotely sustain a the valuation that was originally assigned to it by its developers at the IPO.

No manipulation, no "not seeing the value in it", no fud - just plain and simple commercial viability.

The sooner the people in this thread who are throwing their toys out of the pram about fudding and spamming realise it and address that fact directly, the sooner they might be able to start reconciling promotion with fact and enjoy a more constructive audience  

Hi Everyone

Just a friendly reminder, profanity, personal attacks and fud will be moderated. We appreciate the non-quoting of trolls, it helps keep the thread clean.

We're just waiting on the final builds from David, and we will post : -)

BitBay Team