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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
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on: March 25, 2020, 12:25:05 PM
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3-4 years? Like Craig was saying almost 7! This was the original feature promised since BitBay started. Not to mention the pages and and pages of text talking about it since it's inception. Also it's fully democratic and a user can still trade their reserve. So it's not true to say coins are "frozen" against anyones will. They are more than welcome to sell their BAYR and I'm sure users would love to scoop up a majority of the BAYR at a discount. Besides, I would rather sell 1% of my bag for what is already 10x of the previous bottom than to have no price protection whatsoever.  Also with liquidity this thing can sky rocket because the economy can inflate because it's super cheap to buy up all of the liquid coins at this point which would push the peg over it's target forcing it to inflate. Not to mention a trader can buy up reserve and sell it at a premium when it converts to liquid. So much strategy involved and I feel like it takes trading to another level. The price in this case is not protected, it is artificial, just some magic meaningless number as long as 99.5% of coins are frozen. The price is definitely protected! And, it's very real. It's not a "magic meaningless number". Please do your homework... please do your homework and think again if you did not understand what I wrote. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
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on: March 25, 2020, 12:01:13 PM
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3-4 years? Like Craig was saying almost 7! This was the original feature promised since BitBay started. Not to mention the pages and and pages of text talking about it since it's inception. Also it's fully democratic and a user can still trade their reserve. So it's not true to say coins are "frozen" against anyones will. They are more than welcome to sell their BAYR and I'm sure users would love to scoop up a majority of the BAYR at a discount. Besides, I would rather sell 1% of my bag for what is already 10x of the previous bottom than to have no price protection whatsoever. Also with liquidity this thing can sky rocket because the economy can inflate because it's super cheap to buy up all of the liquid coins at this point which would push the peg over it's target forcing it to inflate. Not to mention a trader can buy up reserve and sell it at a premium when it converts to liquid. So much strategy involved and I feel like it takes trading to another level. The price in this case is not protected, it is artificial, just some magic meaningless number as long as 99.5% of coins are frozen. |
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