I want you to answer one simple question:  Why does LBRY have "Trump Bombs Syria" on their homepage in the current events tab, on September 23, 2017?

LBRY hasn't put in minimal effort regarding their image...they've put in literally no effort.  Why is that?  How could that possibly be?

I get the "not until it's ready" mentality, but projects like this hinge upon building a strong network.  Explain to me how you can build a strong network when the feed on the homepage hasn't been touched in six months.  Explain to me why people should fund this project via capital and creativity when the team, through their actions, has demonstrated they give zero fucks about the folks out there eagerly looking for updates and wanting, with every fiber of their being, to support this project.

Why can they give us nothing after all this time, even if its sugar coated dog turds?  I mean literally nothing, zero effort on the public facing side.  I'm puzzled and flabergasted....is the team really that tone deaf?

You won't get a response.  They have a 15 year old fanboy on here who buries posts and thats about it.  I'm too poor to have the exposure some of the dudes on the last few pages have and thank Christ for that.  I think the one dude lost over five BTC and nothing but snark from LBC?  Wow...

There's literally no excuse for them to have "Trump Bombs Syria" in the current events feed on their webpage, and they know that, so they dodge and blame "typical BCT users" for their glaring failures.

I looked at GitHub before I posted and all I saw in recent past were typo fixes on readmes and the like.  The website has the same videos/images from months ago...does lbry have only like six videos uploaded?

The live thing w your ceo from a few months ago everyone was looking forward to was a disaster, can't even get a digital camera right.  Put in a little fucking effort and stop making excuses!

The public deserves regular updates on the project that aren't buried in chaff on social media, and not everyone wants to join the dipshit circlejerk that is slack.  If you can't be bothered to update the website with such basic information...something a person with novice web skills could do in at most an hour..then how can anyone trust in your ability to program a groundbreaking piece of blockchain technology?  I mean you all are so busy you can't update the homepage now and again?  For really real?  It seems to me like you have nothing but thinly veiled contempt for early adopters when it should be exactly the other way around.

The founder of this project is a moneygrabber like the tezos and bancor scum...should have known better.  Any doubt I had is now gone.

All coins right now are investment vehicles/speculative vehicles, LBC included.  I still have faith in the team and want to believe this is all part of a master plan...that they're devoting their efforts to developing the project rather than pumping hype and bullshit.

However a part of me is starting to worry.  I mean why the same ultra-shitty web site for months?  Why no road map/milestones?  And why not a single representative on btct responding to the extreme criticism?

I get the distinct impression they want to keep things quiet "until its ready" but with the breakneck speed of crypto that tactic may simply result in a stillborn network.

They have what I consider a great brand image and a great concept a lot of folks can get down with.  I just hope, for all our sakes, that's not the beginning and the end of it.  I really hope these guys aren't a bunch of aspies that got too many pats on the back from mom and dad.."you can do anything!"...only to realize they bit off more than they can chew and run away tail between legs...letting the project quietly die while all of us sit here and wonder.

Read the whitepaper and found some of the concepts extremely interesting insofar as digital trade is concerned.  There is little mention of dealing with physical goods in the real world ie: ebay's current province.  So, have I got this wrong then?  Is bitbay primarily geared toward plugging holes in crypto trade/digital trade, with exchange of physical goods ancillary to that end?


A small $4 deposit on a $4 item is cumbersome and illogical to most normies.


I can think of about a million examples where $2500 on $10K would be impossible, or cause undue harm/distress to the one putting down the deposit.

The issue I'm seeing here is why a 42 year old house wife would sit down to buy her widgits and baubles and on one hand you have ebay...click and buy...and on the other bitbay where you have to put down a deposit on top of the purchase price.  As far as most people are concerned when money leaves their account its gone, even if there's a promise it's coming back.  So the housewife would choose ebay and IMO so would most buyers given what I'm seeing here.  And where the buyers go the sellers follow, not the other way around.

You haven't yet addressed why people can't create burner accounts to game the system.  You go into detail regarding an example that seems to focus on one person/one account.  Is there anything stopping one person from holding multiple accounts?  Is there anything stopping that person from using one of those accounts to build up rep buying junk with the intention of scamming a seller on a large item (ie, only having to pay the fractional deposit on an item worth four times as much, etc).  Will rep be weighted based on dollar/bay value of transactions completed, or is it (let's say) one rep point regardless of whether it's a $4 or $10K transaction?


That's not justice.  At all.


It is a big deal due to inflation.  It's why no one keeps money in a savings account, because it loses money.  That's why I suggested you need some sort of incentive for people to keep their funds locked up.  You've killed their liquidity for days or weeks and will be guranteeing them a loss on the locked funds (albiet in practice probably an inconsequential amount).  So, what do they get in return, aside from a completed transaction?


Because you're the sole avatar of this project and you're asking for a billion dollars...possibly billions?

I know I must sound like a ballbuster but crypto devs tend to exist in an echo chamber and often have an aspie level of focus on minutiae and sometimes fail to see the forest for the trees.  The positivity around here is fantastic and in truth this isn't really the venue for dissenting opinions.  My ultimate goal is to help strengthen the project by fostering alternative perspectives -- considering all the options.  At worst I make myself look like an ass and everyone gets a laugh.

I don't know why you're calling me out with that sort of language.  I sincerely want this project to succeed.  I also don't think you quite understand my concerns as you don't address them directly.  I feel, in practice, no one will buy inexpensive items because it's silly to put down a deposit on a $4 item.  And I feel, in practice, no one will buy expensive items because putting a chunky deposit down might be out of possibility for many, or may seem absurd or unfair.  In a very real way, people are losing money by having it tied in limbo and I feel most understand that on a visceral level even if it's not something everyone can articulate.

Regarding a scamming buyer, whats to stop someone from opening burner accounts and getting a bit of rep with the intention of ripping off a seller who doesn't require a full deposit?  I didn't understand your response?

Who backs the bonds?  Who foots the bill if the bond buyer renegs?

I ask simply how can you deliver in practice, how does it work..and have yet to get a straight, concise answer that makes sense when applied to the chaos of real-world markets and irrational actors.

Where's the whitepaper?  For what passes as a whitepaper these days you can [and should] outline the broadstrokes for idiots like me.  Saying you don't want people to copy your work is a silly reason not to draft a whitepaper.  It's like that wannabe writer everyone knows who won't share his idea cause someone will steal it!!!    Fear of mimicry is really just the fear someone else will do it better.  It speaks to a lack of confidence in the execution.

If this thing is almost done why can't you or any of your myriad supporters explain how double deposit works in practice, and why people will choose to use it over existing players in this space.  Zero fees is a good place to start but it's not enough to entice the first wave of people IMO.

I'm not up on the etiquette around here...in fact it's a lack of general etiquette that keeps me away.  If this thread is merely to pat one another on the back then forgive my intrusion.  However I assumed this was a place to engage in informed discussion.  I'm not a rich person and chose to back this project with what few spare shekels I have because I found the goals relatable and respected the perseverance and seeming integrity of the dev.  Starting to feel like I've made a mistake.

Does anyone else not see the issue with double deposits?  I was being a jerk about it a few posts back, but seriously who will put down double the money?  Think about it.  In this fast paced world who would want to lock up XX amount for days or weeks as an item is enroute?  Digital crypto transactions will have their place on bay, but methinks the marketplace will be the biggest draw.

So will the average person put down a double deposit on an item for $3.98?  No, because they're trying to get the best price and putting down $8 for something that costs $4 just doesn't make sense...

...I mean, yes, it does make sense to a rational, sane, smart person, but the market is none of those things.

And I'm sure as hell not going to put down $500 on a $500 item, just not happening.

...But wait, you say.  The deposit doesn,t have to be 100% all of the time?  Well great then an unscrupulous buyer will rack up a bit of rep purchasing junk, will rip a seller off (getting the item at a discount if the collateral isn't 100%) and then disappear.  Word of mouth would kill it.

These are just some of the glaring deficiencies I see with a collateral/deposit system.  100% collateral is offputting, anything less than 100% collateral invites fraud.

The feel good vibe around here is great...but I've been in more than one real life situation where a project looks great on paper but comes apart at the seams in execution all because obvious problems were glossed over in an effort to get it done.

Tried that.  It doesn't work.

 
You can't clearly and succinctly explain the basic mechanics of your project to laypeople (potential investors) and you wonder why BAY is less than vaporware at this point?  Doge does one thing well...be retarded.  And it does that exceptionally well.

What does BAY do, exactly?  The answer is nothing.  You explained a few posts back how a basic transaction performs in BAY, and even that, the core of its functionality, needs substantial thought and revision, which you cannot see because you've assumed the fool's errand of attempting this whole project solo.


You'll need it if you're the sole dev and are wasting time on here getting defensive.  Go to a local college and recruit someone.  Do something.  It's obvious you can't finish this thing by yourself.  Hiring a bunch of internet flunkies to create an advertising video = waste of resources and waste of time when the project can't deliver on any of its stated goals.

I don't quite understand how a unilateral system would work.  In the second example, buyer puts up double, so 400 gets locked in contract?  What if seller sends an empty box?  Does the buyer reject the transaction and get all 400 back?

What if the seller did actually send his item but the buyer rejects the transaction anyway?  Does the buyer get his money back while the seller loses his item?

I'm sure I must be missing something 

I guess we'll have to see how it unfolds in practice.  It sounds good, but it seems to presuppose the existence of a market that isnt yet there.  Chicken and the egg.  If everyone has to start as untrusted entities within the network, without rep, then you will still face the barrier to entry problem.  It seems to invite over-dependence on a centralized guarantor (who?), which could just as easily gain strength as lose it when the network matures, and corrupt the original intent into something like an eBay/PayPal.

I guess you're saying in practice you, as a seller, can buy a gurantee from someone who will financially back the integrity of the transaction and foot the bill if things go afoul?  And same as with the buyer?  If the buyer doesn't have collateral he can purchase -- what would you call it? a voucher? -- from someone who will back the transaction on that side?

Sounds like a transaction fee to me, albeit a decentralized one.  IMO unless there's some sort of financial incentive baked in people will find a way to game this system and burn it down before it has a chance to flourish.

Devil's advocate here.  Like I said, behind the project, but something as elemental as this really needs to be fleshed out in great detail.  If there's any extant literature to this end, please point me in that direction.

Understood, thought that might be a possibility, but won't the high outlay be a barrier to entry?  For the uninitiated, I could see how putting 100% on the line would make them uneasy or irate for a variety of reasons.  In many, many cases it would be entirely impractical.  The folks using these marketplaces by and large won't be rich.  Their net worth could (and in practice, will be) tied to the very items they're selling.  For the guy listing the 10,000 BAY comic book, that could be an entire month's salary locked up in crypto limbo until the sale is completed...an amount our fictional seller cannot afford to put aside.

Is there any way to incentivize the deposit and reward completed transactions?  For example a lottery wherein one could yield anywhere from 0.0000001% to 10% of the deposit for a sucessful transaction?  There are a variety of interesting ways to implement the odds of high payout, to further incentivize good and civil conduct.

The BAY to fund such a system would have to come from somewhere...where I don't know...but I believe it will take more than 0% fees to overcome aversion to 100% collateral.

Just kinda spitballing as I really like this project and want to see it succeed.

In reading articles and the like the issue of trust between buyer and seller is glossed over.  BitBay purports a certain sum held in contract by both parties is an unequivocal gurantee scamming won't occur.  To me, it seems unless that amount is 100% of the agreed purchase price it will stack the deck against sellers and invite buyers [scammers] to purchase goods at a discount.

For example, lets say someone has a comic book for 10,000 BAY with collateral of 1000 BAY.  What's to stop the buyer from saying he never got it, sacrificing the 1000 BAY, and essentially get the comic at a 90% discount?

Or is the problem the opposite?  I.e., once funds have transferred to the seller, is the onus then on the seller to issue a refund if the buyer has a problem?  Flipping the script, what's to stop a seller in the above senario from selling a buyer an empty box for what amounts to 9,000 BAY?

This collateral system is offered as a panacea to limit or eliminate fraud, but I can't quite see how it will work in practice...

It's a legitimate problem, there's no doubt of that.  Has anyone on the team probed the legalities of the trademark?  We're talking international law (in eastern europe no less) so it's a shot in the dark, but due dilligence in matters such as these separates the chaff from the wheat.  It's one of those forest for the trees issues, deceptively critical for the project's success.

Knowing Poles they'll ask for money if you try and play nice, so maybe a cease and desist right out the gate is the way to play it.  Doing nothing or going with a passive option like SEO work is not your path to success.

Any solution to the identically named BitBay exchange, other than hope for its immanent demise?

*Descent . Loved that game...also what I first thought of when I saw Decent.

I want to know why the hell they call themselves Decent.  Why not Spectacular or Fantabulous?

Why would anyone spend money on something that's just...decent?  Huge misstep right out the door IMO.

LBRY folks are nice and very accessible.  They're not marketing the product just yet because it's not ready.  Makes sense if you're thinking long term.

Taking an interest in this project.  I've familiarized myself with the client and things seem to work as they should.....except embedding the keys in images.  I've tried a few different pngs and it seems the client will embed the key sucessfully...but every time I go to extract it fails.

Any insight?