Any method you can use to send cash is supported. The audience is everyone who wants to buy crypto especially countries without access to coinbase
and especially people who do not trust centralized companies. These Halo contracts cant be broken so the risk with coinbase is that they take your wire
or take your bitcoins. Remember mt gox? They took .5 billion dollars. If they used double deposit with their wire transfers that would not have happened.

You can exchange BTC for BAY using microtrading. I'm finishing up coding Blackcoins NightTrader exchange which goes into BlackHalo and other Halo clients.
This exchange uses smart contracts to exchange between any two coins without an exchange.

In theory you can already do that in Bay but NightTrader is meant to make it user friendly.

Your english is pretty good

Yes you can automate a lot of it. For example, you can run an automation script to wire money from certain banks by logging in online the same way a webserver does it, you can automate payments via western union with someone who has an online account. I think in theory there is nothing you can do with a website that you cant do p2p.

For now the only part that will be manual is actually sending the wire or sending the cash. The rest (forms, funding details, exchange rate) will be automated right out the gate.

Are you fudding this or something? There IS a Buy/Sell button in BitBay and BitHalo. Once you enter the info in once, its saved and you only have to click the button once. It will then buy at market price for USD. If the market price fluctuates your order will too.

Everything is automatic, thats the point of a template. If you allow western union you might have to log in and send money (oh the agony!)

Also, are you a soccer mom, 15 year old, or a dude with grandkids? lol... your "grandkids" will probably be driving flying cars when they grow up.

Tell me if this is too complex for you... you click "Buy coins" enter how much,  and you are done. Is that too complex for you?

Furthermore, Coinbase is not avaiable anywhere but america... lol. Arent you forgetting 99% of the world that has no way to buy Bitcoin? They can do that here no matter what country. Halo just solved a huge, huge problem. Problem solved international cash decentralized anonymous peer to peer transactions.

Also if China bans BTC, guess what? People can still use Halo. Its anonymous because its peer to peer. Coinbase reports you as suspicious if you transact too much and you will get audited... have fun with Coinbase lol. And Coinbase has been known to revoke high frequency accounts for no reason. If China bans BTC, then can buy in Halo because its anonymous/peer to peer. Any funding method is available. I would like to see Coinbase take Western Union. Do they take western union? ohhh thats right they dont.

Who said anything about drivers license and passport? The buying or selling of ANY coin not just BitBay can happen in the wallet. Its peer to peer cash. If you want, I will walk you through how to do it we can do a cash deal right now if you want. Basically, a person selling cash would not need a drivers license or photo id or anything like this. Thats up to the seller and i highly doubt they will care. Here is the various way cash can get done in the markets.

Most common:
Wire transfer - Buyer supplies checking account number and bank name, seller wires funds. Everyone releases deposits.
Western Union - Buyer gives name and country of cash pick up. Seller sends western union, gives confirmation number. Deposits released after cash is picked up.
MoneyGram - Exactly like western union
Cash in the mail(your mom doesnt need to know the address) - Buyer gives address. Seller sends cash in mail and insures it with carrier. Buyer gets it, deposits released.
Prepaid credit cards - Buyer gives prepaid credit card information. Seller refills card. Deposits released.

No as common, risky due to chargebacks(personally not recommend):
Credit card - Buyer allows for credit card funding, seller makes payment (with possible hold). Deposits released.
Paypal - Buyer gives paypal etc.

Anyone can be a cash seller, so it is clearly the sellers responsibility if they want to do large volume, they will have their own know your customer policies.
But many countries dont have those and most people wont care. Hope that explains it, its by far the most superior way to transfer cash.

ALSO...
You are NOT doxxing yourself at all!! The information you send will only be known by the seller. If you only want to reveal an address for cash in the mail then do that. If you want to only give your name for western union, do that. The information is ENCRYPTED so only the other party knows

That can already be done right now, its just that there is no user friendly template (only custom template right now). For example lets say someone is selling 1 million BitBay. He deposts 1 mil and so does the buyer (there is also the 1 mil amount advanced).

Thus sellers in for 2 mil buyer is in for 1. Buy sends cash any way he wants (paypal ok but wait at least 30 days or open a support ticket to avoid chargeback) for example, bank wire, cash in the mail, money wire like Western Union, MoneyGram etc.

That wire covers 1 million and now buyer is out 2 seller is out 1 (1+1 deposit - cash which was 1)

So both parties have to confirm the deal and release to get their money out. We won't automate the wire but we can set up a template that fills in all the forms for any payment option. Things like wire info or western union info and the buyer would fill out their half as well.

To illustrate how the balance shifts its like this

2:1
1:2
even (contract complete)

In theory some of us can start selling Bay for cash, yen, peso etc P2P using smart contracts in the markets. However, once the template for cash is finished that will make it more obvious on how to perform a deal like that.

Hmm well you can let it sync and see if the blocks increment, or perhaps its a firewall issue or something else? IF you send me your debug.log I can see if you are synchronizing. Rescan is only used to scan again for missing inputs (like an incorrect balance).

Hey thanks i totally agree, and i wanted to elaborate most coins are concentrated. Even Bitcoin there are wallets holding massive amounts of BTC. The top 100 wallets hold 20% of bitcoin! So distribution comes with time. Hedging/Pegging will help this happen i think by stabilizing prices.

I dont think so, all the jerks are gone anyways. Besides, unlike other coins, we are actually developing lol. And also, we had some very good volume spikes recently especially a couple weeks ago. Also, several new investors contacted me and the news outlets were fairly neutral and somewhat interested in this project. If anything, the past is just a crazy story to tell. People want to see a marketable project. The point is having a project that can reach masses outside of the forums.

Thanks. Yeah that sounds like a good idea. Ok well just wait for the next update to do the video so all the templates are complete with bug fixes. I just added some really good inbox management stuff today. Still have a long list of things to do. The next version should be much more commercial.

Hey there guys, so im making lots of updates and wanted to let you all know, if there is anyone who is good with PR or knows bloggers or would like some articles please reach out to me or the slack group.

Mostly, im usually busy coding so i dont have time to leverage my pr contacts. However, it would make sense for someone to reach out to a few bloggers or bitcoin pr news outlets to get some articles on the subject of decentralized servers and markets as well as pegging etc. I can always pay bounties for that as well.

Thanks and hope you all are looking forward to the next round of updates.

If anyone has some PR contacts, send them my way. Now is a good time to do articles and such while we wait.

I dont like basing currencies on trust. If you use a deflation/inflation system like what we are proposing here, it wouldn't be so hard to issue one currency backed by another. Consider that a person could issue "Johncoin" where the guy might issue 1000 coins backed by 1000 dollars. True, it wouldn't have a high marketcap but the concept is to issue coins based on market pegs, contracts or deposits. You should avoid audits at all costs. Youtube videos or "he said/she said" is the thing of the past. We should move to an economy not based on trust since absolute power corrupts.

I could see this working in a bitbay fork or perhaps issued through smart contracts or bonds.

This is only to mitigate volatility. It certainly is not always changing though. The core concept is pretty much set. I see your point there but in a bear market a coin can lose 90% of its value and nobody can buy/sell on a market while thats happening. So this engine I'm designing will prevent loss of value in your coins so the markets can be happy.

After all, right now we have working smart contracts and decentralized markets with no fees and no arbiters. You would think its perfect. After all even BitHalo had smart contracts for an entire year. People are waiting for templates so its user friendly I think. Although we did have at least 20 deals on the markets go through.

Remember this system is decentralized. There is no reason votes can't be automated or augmented based on node performance instead of stakeholders.

I understand your point. However floating point numbers aren't used in coins. Essentually "multiplying everyones balance by 10" is the same as adding a decimal place. Its simply from a math perspective, computers don't handle floating points correct and it will cause errors.
http://floating-point-gui.de/

The link above explains it simply. Of course ok, so it can be done without impacting the market... there is always a way. Even to make it "appear" to move to the right, you still must deal in integers not floats.

I see your concern, you are basically saying (what if voters are selfish) and thus they can increase supply by unfreezing? Well yes so the question of the frequency of voting comes in. Perhaps it can halve just like the block reward, perhaps we can allow the master key to message the client if variables like voting frequency need to be changed.

I think its more of a balancing act. What is the sweet spot where things will square off and the price can achieve a harmony. The idea that people can sell reserves in time locked sales may help act as a deterrent for selfish votes. Also with checklocktimeverify it should be possible to park your coins. This would mean that even on an interest increase those coins would stay parked until the locktime runs out. That would be a voluntary action. Coins that get sold from selfish votes might move into the hands of people who would vote deflation anyways.

The point is, the first iteration of this must exist. It certainly would decrease volatility though since no matter how you structure your argument, a dumpers coins will not be all available at once. Perhaps you could argue that overdeflating could cause this risk if the coin is inflated too early.

The theory is to have supply matching demand and there is some variables to consider.

Think of it this way, Bitcoin is supposed to be hailed as programmable money but they aren't taking advantage of their wonderful opportunity to programatically control their economy. No matter what, this is the next logical step for Bitcoin.

lol interesting point... well now that my client will replace the standard Qt, doing updates/"forks" will be easier. That would be an update that could be easily done. However consider that Bitcoin is not in decimals. Computers dont understand floating points and decimals because its binary. Bitcoin is in integers one Bitcoin is 100000000. They say satoshis and then make decimals to make it prettier. In order to denominate more you need to inflate the currency to 1 trillion. But hell, thats not a big deal if we have reserve coins locked. Perhaps if that was ever needed one day it could be done easier without harming early arrivers.

Yes this is correct. A more technical elaboration is possible. Inputs are required to be tagged as either "reserve" or "liquid" miners will always calculate wether or not a % of a reserve input is spendable or how much of a liquid input must be tagged as reserve when spent. The concept is simple but making the accounting perfect is a little tricky.

If everyone sends to the voting address in request to deflate for example and we start at 100%, then we move to 99%. When an input needs to be spent, lets say its 100 coins then only 99 coins can be used liquid and 1 coin must lock. That coin is only available if the currency inflates back to 100.

We will allow for voting after certain intervals of blocks. So perhaps 1-2X per day. Thus in a month at most it can deflate 60%. After 99% we have to figure out what increment makes the most sense. Most like .01% so it would drop 99.99, 99.98 and so on. This effects all wallets.

Now consider this is nothing at all like a bank or federal reserve because the rates effect all users evenly. No custodial wallets and no unfair advantages. The beautiful part here is if you have deflated and you hold 100 coins where you used to hold 100,000, then you must have 99,900 in reserve. Your 100 coins will increase in exchange value of course so your purse might be worth more here. If anything it acts as a decentralized economy for the sake of eliminating volatility.

However some good arguments were made for allowing reserve sales. So I'm (considering) adding "time locked sale of reserves" which is a way to bypass the freeze in the condition that you lock the coins for X months. So if you buy reserves you must wait (lets say the minimum is 3) months. Upon receipt those coins are still reserve but (might) be liquid one day if some arent already and your hope is at the same value.

Those bond type sales might create a secondary market and allow investors to enter into the market without making the argument that the distribution was unfair for early adopters. Those reserves would probably get sold at a discount and its a balancing act to decide what the minimum lock should be.

Other techniques are still being discussed and nothing is set in stone yet. I know how I'm writing it in the source code but am still meditating on what a good debut will be. Right now, I'm working on templates to commercialize the markets better and make them more user friendly. So far it looks like there are no bugs and the testing has been very smooth. The only thing we are missing is a build that works on all Macs as we notice about 75% of them running. Perhaps we need to include some libraries or something its on my list of things to do.

Try to not think of this as a "peg" to the dollar(there is no specific number we are targeting). Think of this as simply adding freezing/unfreezing deflation/inflation. Liquidity is not reduced because its reduced for everyone proportionally. So the best way to see it is making supply match demand. If the demand goes down, the supply can be voted on to decrease via deflation. If the demand goes up, then reserves can be made liquid. It happens in increments so no need to fear any crash. In theory, we can grow the price against the dollar via voting. The only thing that is happening here is volatility is dramatically being reduced. If the dollar dies, this coin still exists. Remember only its supply was matching the demand so it could survive any bear market condition. The dream situation is when 1 billion isnt enough coins to match demand. But the theory is, we grow towards that.

It can be fixed by changing the port but we will wait until its made obsolete.

I dont agree with this entirely, the markets have been teseted extensively and there is definitely a lack of marketing in both Blackcoin and Bitbay. Although I do agree that the marketing push is going to be much stronger once the templates and other things are finished. Forget rumors, there is no marketing. Also, considering that we are the only coin with decentralized markets, it doesnt make sense to give other coins time to catch up. At a minimum everyone should know about it even though there is more to do. Also, assume that we are waiting for a marketing push. Ok so who is designing the materials for that? What about advertisements, banners, diagrams, writeups etc? So many materials to prepare why not do it in advance?