Syscoin vs Bitbay

[whale_shark]

I'm rather new to the altcoin scene and after a few days of looking at which coins to invest in i decided on ones that are working on decentralized marketplaces as I feel that's where there could be a  future for altcoins. I found and invested in Syscoin and Bitbay and both seen to be at the same stages of development but the difference in marketcap is huge? Bitbay is something like 12% of Syscoins price! Is the only difference here marketing? or that Syscoin is on Poloniex and Bitbay isn't?

[1714621282]

1714621282

[1714621282]

1714621282

[Munti]

No disrespect for syscoins marketing team (they are doing a great job), but this is just the way it is in crypto. Sys and Bay have tended to be around the same price. A few months ago sys had half the marketcap that Bay has now, and then they had their pump. The pump in Bay has not started yet, so if you already have bought you can sit back and enjoy 

[DishwashingUnit]

BAY is closed source.

I'll feel a lot better when that gets remedied (he says he plans to in the future).

[BitFomo]

How can i invest in bitbay?

[EpyxZ]

trex may have played a role but one has been pumped and the other has not... yet

[Munti]

How can i invest in bitbay?

Bay is traded on Bittrex, Bter, and C-cex. You can also buy directly in BitBay's own market. The biggest volume is usually on Bittrex

[Jcga]

Syscoin is greater than Bitbay for sure!

You can get some Syscoin at https://poloniex.com/exchange#btc_sys

[cryptohunter]

Syscoin is greater than Bitbay for sure!

You can get some Syscoin at https://poloniex.com/exchange#btc_sys

That is not true at all. Tell me why you think that.
They seek to do similar things but Bitbay looks like a better way of accomplishing it.

Both coins are way way better than your average shit coin but bitbay I heard was a better way of doing things than syscoin.

From an investment POV you would be probably mad to by syscoin at this point over bitbay.

[3r197]

Here is to the future of BitBay!
Buddy just accepted my contract to counter my bet that the EUR/USD will go up in value by 1% before Friday close of fiat market. As far as I know this is the first such transaction/contract of this kind for crypto!
No middle man needed. No escrow agent. No brokerage cut. And 100% guarantee that stop loss and take profits will be fulfilled.

This is just the beginning! Wait till this evolves with automated trading bots and python smart contracts!
Finally, a way where the small fish get the best rates and not just the massive institutions.
It's time you take your markets back people! No regulation because none is needed with DDE!

[3r197]

And don't forget that once BitBay is pegged, Bitcoin investors hedging their profits by converting to BitBay will cause the volume to skyrocket!
What better way is there to do that now? Nubits has issues. Coinbase seems to love to let you know that big brother is tracking your crypto to fiat exchanges .
With BitBay there will no longer  be a need to worry about government tax agencies trying to track your cash out profits from any cryptocurrency even if you are just trying to protect your investment profits and not spend them.

[3r197]

Who knows...
Maybe in the future, BitBay will be able to create the first Double Deposit Escrow backed mutual fund!

[Hunterwolfie]

So in essence the whole purpose for this thread is to pump Bitbay.....nice 

[sebastien1234]

Syscoin's decentralized marketplace is already in production

Its open source

Its blockchain based and not P2P (ever try to use torrents on a cellphone? Ouch)

Escrow does not require parties to double deposit(think real world here, would a store and customer ever accept to double deposit?).

Since Sys is already fully functioning, we have honestly stopped comparing ourselves to roadmap projects and instead are concentrating on the only "competition" out there: OpenBazaar



Good luck though, we respect all efforts towards decentralization.

[cryptohunter]

Syscoin's decentralized marketplace is already in production

Its open source

Its blockchain based and not P2P (ever try to use torrents on a cellphone? Ouch)

Escrow does not require parties to double deposit(think real world here, would a store and customer ever accept to double deposit?).

Since Sys is already fully functioning, we have honestly stopped comparing ourselves to roadmap projects and instead are concentrating on the only "competition" out there: OpenBazaar



Good luck though, we respect all efforts towards decentralization.

What? I mean syscoin is great but surely Bitbay is better?  or am I wrong?

Is being blockchain based actually workable with this kind of thing? I mean if syscoin got any real user base would it not just start consuming enormous resources/space? how big will the block chain end up being?

I am a fan of bitbay but I have some sys too. From what I can tell Bitbay seems a way better way of doing things. However, I would love to see a full on comparison between the two with technical analysis that layman can understand.

Seems sys could never scale to any real world usage? or could it?

Isn't sys just a copy of what bitbay first set out to be?

I don't really think this thread is the best way to highlight these projects but still if a comparison must be made I would like to hear the facts from a tech pov not from just investors.  I'm merely and investor in both (more in bitbay ) but when last I was asking for some comparisons between them I got the notion bitbay was clearly built for scaling better for real world usage.

Syscoin tbh seemed to me to be a bit of a bitbay copycat coin that didn't think it out quite so well (this could be proven to be incorrect let's wait and see). However, congratulations for how quickly it was coded out.

[sidhujag]

Syscoin's decentralized marketplace is already in production

Its open source

Its blockchain based and not P2P (ever try to use torrents on a cellphone? Ouch)

Escrow does not require parties to double deposit(think real world here, would a store and customer ever accept to double deposit?).

Since Sys is already fully functioning, we have honestly stopped comparing ourselves to roadmap projects and instead are concentrating on the only "competition" out there: OpenBazaar



Good luck though, we respect all efforts towards decentralization.

What? I mean syscoin is great but surely Bitbay is better?  or am I wrong?

Is being blockchain based actually workable with this kind of thing? I mean if syscoin got any real user base would it not just start consuming enormous resources/space? how big will the block chain end up being?

I am a fan of bitbay but I have some sys too. From what I can tell Bitbay seems a way better way of doing things. However, I would love to see a full on comparison between the two with technical analysis that layman can understand.

Seems sys could never scale to any real world usage? or could it?

Isn't sys just a copy of what bitbay first set out to be?

I don't really think this thread is the best way to highlight these projects but still if a comparison must be made I would like to hear the facts from a tech pov not from just investors.  I'm merely and investor in both (more in bitbay ) but when last I was asking for some comparisons between them I got the notion bitbay was clearly built for scaling better for real world usage.

Syscoin tbh seemed to me to be a bit of a bitbay copycat coin that didn't think it out quite so well (this could be proven to be incorrect let's wait and see). However, congratulations for how quickly it was coded out.

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

[Munti]

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

Bitbay isn't released???

Bitbay has been in public beta for more than a year for windows. It's now out in release version!
Mac and linux are still in beta until we are sure there are no OS specific bugs
We will of course keep adding features and make it even more user friendly, and those updates will come quite often now that the groundwork is done thoroughly.

You can download it from our OP https://bitcointalk.org/index.php?topic=890531.0 or our site http://bitbay.market/

Have fun

[sidhujag]

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

Bitbay isn't released???

Bitbay has been in public beta for more than a year for windows. It's now out in release version!
Mac and linux are still in beta until we are sure there are no OS specific bugs
We will of course keep adding features and make it even more user friendly, and those updates will come quite often now that the groundwork is done thoroughly.

You can download it from our OP https://bitcointalk.org/index.php?topic=890531.0 or our site http://bitbay.market/

Have fun

For me its considered released when I can read the code and get a picture of whats going on, I dont even bother looking the GUI until after. Generally it's good practice to direct developers to tests that show capabilities of the system and edge cases... not only does it increase code coverage and quality (bringing it to a production ready state where it needs to be when money is involved) but also gives others a chance to know what's going on without sifting through thousands of lines of code.

I'm sure it will come... its a great sector to be in thats for sure... decentralized markets are much needed for crypto in general. The velocity of money is what will create value for the underlying tokens being used.

[cryptohunter]

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

Bitbay isn't released???

Bitbay has been in public beta for more than a year for windows. It's now out in release version!
Mac and linux are still in beta until we are sure there are no OS specific bugs
We will of course keep adding features and make it even more user friendly, and those updates will come quite often now that the groundwork is done thoroughly.

You can download it from our OP https://bitcointalk.org/index.php?topic=890531.0 or our site http://bitbay.market/

Have fun

For me its considered released when I can read the code and get a picture of whats going on, I dont even bother looking the GUI until after. Generally it's good practice to direct developers to tests that show capabilities of the system and edge cases... not only does it increase code coverage and quality (bringing it to a production ready state where it needs to be when money is involved) but also gives others a chance to know what's going on without sifting through thousands of lines of code.

I'm sure it will come... its a great sector to be in thats for sure... decentralized markets are much needed for crypto in general. The velocity of money is what will create value for the underlying tokens being used.

I don't think nor do I hope that the bitbay code will be open sourced any time soon. If it can do what it promises to do and scales out as it should be able to then I sincerely hope david will not turn this code out into the wild to be copy and pasted by any and every other dev out there in 5 mins.

I hope he will do as the bitbay community wishes and keeps it closed source for a good long period of time and perhaps released when they are several generations ahead.

Sys is good and is at this stage more polished from the outside...but I feel bitbay will be a superior design in terms of scalability and resource efficiency (that may prove to be a false assumption of course) . Let's wait and see I guess. Both need to bring on lots of real world usage to test them out. Having 1000's perhaps 100'000's to millions of users will certainly be the acid test for both. Best to have some of each but I'm heavier bitbay right now.

[sidhujag]

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

Bitbay isn't released???

Bitbay has been in public beta for more than a year for windows. It's now out in release version!
Mac and linux are still in beta until we are sure there are no OS specific bugs
We will of course keep adding features and make it even more user friendly, and those updates will come quite often now that the groundwork is done thoroughly.

You can download it from our OP https://bitcointalk.org/index.php?topic=890531.0 or our site http://bitbay.market/

Have fun

For me its considered released when I can read the code and get a picture of whats going on, I dont even bother looking the GUI until after. Generally it's good practice to direct developers to tests that show capabilities of the system and edge cases... not only does it increase code coverage and quality (bringing it to a production ready state where it needs to be when money is involved) but also gives others a chance to know what's going on without sifting through thousands of lines of code.

I'm sure it will come... its a great sector to be in thats for sure... decentralized markets are much needed for crypto in general. The velocity of money is what will create value for the underlying tokens being used.

I don't think nor do I hope that the bitbay code will be open sourced any time soon. If it can do what it promises to do and scales out as it should be able to then I sincerely hope david will not turn this code out into the wild to be copy and pasted by any and every other dev out there in 5 mins.

I hope he will do as the bitbay community wishes and keeps it closed source for a good long period of time and perhaps released when they are several generations ahead.

Sys is good and is at this stage more polished from the outside...but I feel bitbay will be a superior design in terms of scalability and resource efficiency (that may prove to be a false assumption of course) . Let's wait and see I guess. Both need to bring on lots of real world usage to test them out. Having 1000's perhaps 100'000's to millions of users will certainly be the acid test for both. Best to have some of each but I'm heavier bitbay right now.

So Satoshi shouldn't have open sourced bitcoin? How would a dev go and prove it is doing what is supposed to be doing, trust the EXE that your running on your windows even though your virus scanner is telling you its bad? Anyways if someone clones your codebase its not a bad thing, the base will always become stronger because the stems all depend from the base. You have to think about it the other way around. Yes bitbay has interesting features but like I said let's see the code with some tests and then we can put them side by side.. I believe they will serve different niches in the same sector but thats just a guess.

I could have done the same thing and kept Syscoin closed source, but I kept in the spirit of open-sourced development and Bitcoin by open-sourcing and showing all what I am working on every day. Closed source only makes sense if you a) depend on it for revenue and b) pretty much operate a company with DV test cycles (integration and unit tests) internally to ensure the code is bug-free from major fires. You would probably get preferablly multiple invested customers to use it and sign off on the beta/rc candidates as well. It doesn't make much sense here. If someone copies it and markets it better, heck good for them for pumping and dumping a new coin, but the base is what will retain any value.

[cryptohunter]

Wait for the new features coming. David is a great person and being closed source means nothing because I know he is honest.. although he should open it up ASAP instead of sending around exe's etc.. I think its a good initiate and we are on different paths in terms of marketplaces... we are focused more on e-commerce and retailers although both platforms can handle it... right now the breadth of the problem is too big to solve for either one unless you focus on one task at a time. Syscoin is not a copy cat of any coin it was started out with the Namecoin style coloured coin transactions and grew from there. We have unit tests for our services which put it above any competition who claim to try to achieve a production ready platform for average users to use. We can't really compare bitbay to sys yet because bitbay isn't released... once its out and I see some unit tests I will get a sense of the quality (i have no doubt in David's capabilities) but i'm sure many people are still waiting for that. Also with the tests I will know exactly what is and isn't possible on bay that is on Sys and vice versa... still too early to tell. OpenBazaar is a valid comparison with Syscoin currently and nothing else as reflected by current marketcap.

Bitbay isn't released???

Bitbay has been in public beta for more than a year for windows. It's now out in release version!
Mac and linux are still in beta until we are sure there are no OS specific bugs
We will of course keep adding features and make it even more user friendly, and those updates will come quite often now that the groundwork is done thoroughly.

You can download it from our OP https://bitcointalk.org/index.php?topic=890531.0 or our site http://bitbay.market/

Have fun

For me its considered released when I can read the code and get a picture of whats going on, I dont even bother looking the GUI until after. Generally it's good practice to direct developers to tests that show capabilities of the system and edge cases... not only does it increase code coverage and quality (bringing it to a production ready state where it needs to be when money is involved) but also gives others a chance to know what's going on without sifting through thousands of lines of code.

I'm sure it will come... its a great sector to be in thats for sure... decentralized markets are much needed for crypto in general. The velocity of money is what will create value for the underlying tokens being used.

I don't think nor do I hope that the bitbay code will be open sourced any time soon. If it can do what it promises to do and scales out as it should be able to then I sincerely hope david will not turn this code out into the wild to be copy and pasted by any and every other dev out there in 5 mins.

I hope he will do as the bitbay community wishes and keeps it closed source for a good long period of time and perhaps released when they are several generations ahead.

Sys is good and is at this stage more polished from the outside...but I feel bitbay will be a superior design in terms of scalability and resource efficiency (that may prove to be a false assumption of course) . Let's wait and see I guess. Both need to bring on lots of real world usage to test them out. Having 1000's perhaps 100'000's to millions of users will certainly be the acid test for both. Best to have some of each but I'm heavier bitbay right now.

So Satoshi shouldn't have open sourced bitcoin? How would a dev go and prove it is doing what is supposed to be doing, trust the EXE that your running on your windows even though your virus scanner is telling you its bad? Anyways if someone clones your codebase its not a bad thing, the base will always become stronger because the stems all depend from the base. You have to think about it the other way around. Yes bitbay has interesting features but like I said let's see the code with some tests and then we can put them side by side.. I believe they will serve different niches in the same sector but thats just a guess.

I could have done the same thing and kept Syscoin closed source, but I kept in the spirit of open-sourced development and Bitcoin by open-sourcing and showing all what I am working on every day. Closed source only makes sense if you a) depend on it for revenue and b) pretty much operate a company with DV test cycles (integration and unit tests) internally to ensure the code is bug-free from major fires. You would probably get preferablly multiple invested customers to use it and sign off on the beta/rc candidates as well. It doesn't make much sense here. If someone copies it and markets it better, heck good for them for pumping and dumping a new coin, but the base is what will retain any value.

Sometimes there is always going to have to be a element of trust. There are some that argue ethereum should have remained closed source for a time so the banks etc could not have immediately have cloned it. Perhaps there would have been some benefits to bitcoin having remained closed source. However, starting off back then closed source would probably have slowed adoption greatly. I'm not sure we should always quote satoshi and bitcoin as good comparisons or models for every new project. I mean David Zimbeck is hardly unknown like satoshi was when btc was first launched. We know exactly who he is in real life. There is accountability. Satoshi well who knows what his exact purpose of creating btc was, perhaps their purposes are not exactly the same. There are many different factors here so I can't say just because satoshi acted one way with BTC all coders should act exactly the same way with their projects. A delay in releasing source is a good idea in some cases.



Well everyone has different opinions. I just hope that he does not open source it after all his hard work just to see other coders copy and paste it. Several projects have kept their coding closed for quite a time to allow a period of time to pass and for updated versions to be created and improved before releasing the v1. Allowing themselves the headstart such hardwork and dedication to the task deserve. Mostly I only see others demanding open source from a well know project/dev with years behind them if they want to gain easily from work they have not done themselves. (not that I'm saying this appies to you in this case since you have your project based on a different method entirely)

Some will want open sourced in this arena but several successful projects have gone closed source and I think it has contributed to their success.

I've heard you are also a great coder/designer and it was your choice to open source your code as you went along. I feel the fact you did this and kept your community appraised on your ideas each step of the way has lead to your recognition and adoption. That is one approach.

I hope David does not choose this route and I don't think he will. Bitbay is rather interesting and rather different from many other projects. I think it's real value will become apparent over time with real world usage. He has been working very hard without saying all that much so far. However, he seems a very nice person and to my understanding a very smart guy too.

I wish syscoin well, I believe both should be top tier by the time they are done. There need not be an "there can be only one" type scenario. There is plenty of room for many market places. Let's live and let live. It's fine to compare like I say both you and David seem to get on well...let's just see how things turn out in the future. You do seem a very pleasant person so perhaps I should not have said it was a pure copycat of bitbay ..perhaps since it was because I'd not heard of sys before and then it appeared (to me) with a lot of similar functons as bitbay (which i had known about for 2years). If you had intended to do all the things with sys at the start anyway regardless of whether bitbay existed then fair enough only you can know if this is the case or not. I hope both projects get fair recognition  for such useful/functional projects.It's perhaps a shame you and David had not just started one project together years ago and worked together on something. It may have been something better than either one.