Why is BitBay price so low?

[Zadicar]

I do have some good views about this coin among other and when i backread most people say that it has a scammer developer and a scam coin and wong get any pump in the future?how can be so sure about this matter? Even if it falls into top 100 its still promising to keep this coin compared to pump and dump scheme coins.

[dzimbeck]

I do have some good views about this coin among other and when i backread most people say that it has a scammer developer and a scam coin and wong get any pump in the future?how can be so sure about this matter? Even if it falls into top 100 its still promising to keep this coin compared to pump and dump scheme coins.

I'm not a scam developer. Look at the software I made with your own eyes. The person who called me a scammer (bobsurplus) stole from the project adding insult to injury. I've worked my ass off on this project and am really tired of these lazy comments

[Goal]

finally we are seeing some notice in the value of this coin

[olarsson]

What should this Bitbay coin be used for? Which advantages does it have?

[funsponge]

What should this Bitbay coin be used for? Which advantages does it have?

http://bitbay.market/walloffeatures/

[jjacob]

I've been researching coins deeply and this coin offers so darn much! Why is it falling on the top 100 list? Why isn't it on the top 10? Can someone explain this to me?

Think of it as an amazing opportunity to buy some cheap coins. If you really believe in the potential of a coin, better to invest substantially in it. The market will come around to its fair value, sooner or later.

[NoiseBoy]

Alright, this thread has sold me. Just picked up a small position in BIT.

Not kidding about the "small" part. It's 1.1% of my crypto portfolio. But I'll be paying close attention now.

[Viper1]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

[edmundduke]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

[Viper1]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

I know that people really love to believe their favorite coin or whatever is decentralized, but in the case of this one, it's currently "centralized" in the developer himself. The moment he stops (is hit by a bus or something else happens), just like all others where the dev left, it will die. Him also having at least 10% (no one can be believed in this space and he could have far more than that), well that's a hell of a lot and cause for concern. It used to be that any coin that had a premine etc. of that sort of amount was immediately classified as a scam/garbage etc and avoided. Now of course people just accept it all as normal and make up all sorts of things to justify it.

His stating that this coin cannot be stopped by any country etc is just laughable and the fact that he's put that out there just has to make someone start to question more. Tor traffic can be detected and blocked. Bittorrent traffic can be detected and blocked. Sure, it wouldn't be cost effective to try and stop absolutely everyone, but you stop the majority and anything relying on it is dead. Seriously. I mean all you have to do is read the freaking wikipedia page about Tor. Just because no one really gives a shit about all this stuff right now doesn't mean it can't/won't happen down the road.

Another issue I have with this coin is that the marketplace is subject to the deal/licensing of Halo. Have all the specific details on that been made public? Would think that should be right in the OP of the coin as it's pretty important. Without it though, the marketplace no longer exists which makes it a risk.

At the end of the day though, this coin is no different than 99% of the others out there. It hasn't solved any real fundamental problems, offers a bunch of "stuff" that makes it seem like it has some sort of value and it serves no other purpose than a way for people to make a bunch of money for as long as it lasts. So as long as that's all you're interested in, then by all means, this one is as good as any other.

[edmundduke]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

I know that people really love to believe their favorite coin or whatever is decentralized, but in the case of this one, it's currently "centralized" in the developer himself. The moment he stops (is hit by a bus or something else happens), just like all others where the dev left, it will die. Him also having at least 10% (no one can be believed in this space and he could have far more than that), well that's a hell of a lot and cause for concern. It used to be that any coin that had a premine etc. of that sort of amount was immediately classified as a scam/garbage etc and avoided. Now of course people just accept it all as normal and make up all sorts of things to justify it.

His stating that this coin cannot be stopped by any country etc is just laughable and the fact that he's put that out there just has to make someone start to question more. Tor traffic can be detected and blocked. Bittorrent traffic can be detected and blocked. Sure, it wouldn't be cost effective to try and stop absolutely everyone, but you stop the majority and anything relying on it is dead. Seriously. I mean all you have to do is read the freaking wikipedia page about Tor. Just because no one really gives a shit about all this stuff right now doesn't mean it can't/won't happen down the road.

Another issue I have with this coin is that the marketplace is subject to the deal/licensing of Halo. Have all the specific details on that been made public? Would think that should be right in the OP of the coin as it's pretty important. Without it though, the marketplace no longer exists which makes it a risk.

At the end of the day though, this coin is no different than 99% of the others out there. It hasn't solved any real fundamental problems, offers a bunch of "stuff" that makes it seem like it has some sort of value and it serves no other purpose than a way for people to make a bunch of money for as long as it lasts. So as long as that's all you're interested in, then by all means, this one is as good as any other.

The first part of your argument applies to all walks of life, it is more about how decentralized it can go. If he does dissapear, things will continue to function.

As long as people run their nodes, it will be up. As for your main point, sure, anythings possible i guess

He MADE HALO.

I would say it is different as it offers an actual working product. Each coin goes by its own path and we can only guess how it all ends up. But BAY has shown incredible resilience and is bringing in new stuff to teh table all the time. And what do you mean by offering people a way to make a lot of money ? I do not thin that is a part of BAY. But it does offer people to use a double deposit escrow when people wish to sell something on the marketplace and make money that way.

If you dont like the coin, feel free to not invest in it. That is your choice.

[Viper1]

He MADE HALO.

So? What are the contractural specifics of that? What happens to that in the case of his death? Does he even have a will? Or is it just a matter of believing in his good will with zero thought to the future of your investments? Why do so many treat the money they put into this as a hobby as opposed to serious business.

And what do you mean by offering people a way to make a lot of money?

I mean that it's nothing more than something to be traded on exchanges for profit.

If you dont like the coin, feel free to not invest in it. That is your choice.

I like it as nothing more than a means to make some money trading it on the exchanges as it solves no problems of crytocurrencies and has little chance of a long term (I mean a decade or two sort of thing) future.

[cryptohunter]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

I know that people really love to believe their favorite coin or whatever is decentralized, but in the case of this one, it's currently "centralized" in the developer himself. The moment he stops (is hit by a bus or something else happens), just like all others where the dev left, it will die. Him also having at least 10% (no one can be believed in this space and he could have far more than that), well that's a hell of a lot and cause for concern. It used to be that any coin that had a premine etc. of that sort of amount was immediately classified as a scam/garbage etc and avoided. Now of course people just accept it all as normal and make up all sorts of things to justify it.

His stating that this coin cannot be stopped by any country etc is just laughable and the fact that he's put that out there just has to make someone start to question more. Tor traffic can be detected and blocked. Bittorrent traffic can be detected and blocked. Sure, it wouldn't be cost effective to try and stop absolutely everyone, but you stop the majority and anything relying on it is dead. Seriously. I mean all you have to do is read the freaking wikipedia page about Tor. Just because no one really gives a shit about all this stuff right now doesn't mean it can't/won't happen down the road.

Another issue I have with this coin is that the marketplace is subject to the deal/licensing of Halo. Have all the specific details on that been made public? Would think that should be right in the OP of the coin as it's pretty important. Without it though, the marketplace no longer exists which makes it a risk.

At the end of the day though, this coin is no different than 99% of the others out there. It hasn't solved any real fundamental problems, offers a bunch of "stuff" that makes it seem like it has some sort of value and it serves no other purpose than a way for people to make a bunch of money for as long as it lasts. So as long as that's all you're interested in, then by all means, this one is as good as any other.

You have made some valid points but it boils down to this at the end of the day when talking about valuation..... show me a project that offers more for less. It has a functioning unbreakable smart contracts market that is getting more and more versatile every update, it has a functioning governance feature (one major issue solved) it has a rolling peg being developed (will solve spiking and troughs ie stability) the scaling of it is also very interesting and a novel approach so that on chain is not bloated and growing to a huge size ( 2 more interesting things being solved). I like the cold staking feature a lot too.

Some of your points are actually valid and a concern but these are also being worked on too. The fact halo is not a bitbay exclusive to me is a concern but halo is owned by the devloper himself so in time if bitbay becomes worth 100M + then I would hope he could remedy this if he still owns 10% of the bitbay minting. Halo is but one part of bitbay though and to me not the most important part the pegging system and all the other features in the market place are equally as important. The fact halo is not exclusive i do not like but then what about all other open source projects they can be copy and pasted at will with no consulting the developers so to me this adds value to bitbay also in that yes he can license halo to another project if he wants in theory but why would he that will destroy his value in bitbay so this is a better situation that where anyone can copy and paste the technology without paying  a license fee. Bay paid 100BTC fee for halo so that is already licensed to bitbay for good.

If you can find me a project that offers me more than bitbay for less I will be all over it.

I am not closed mined so feel free to get me a comparison chart knocked up for bitbay vs X project (that is not just a bunch of dreams and fantasies and that has these features now)

all these dreams and talk ICO's are not to be included. I want real working functioning tech.

Ethereum is perhaps the only project but that is magnitudes more expensive.

LTC is bringing some real word improvements over BTC so i have that already.

Block - yes that is going to be very very useful when it actually comes out fully functional so have that already.

Maid seems to have big plans but again how long will we wait how well will it work in practice how well will it be adopted....same for the decentralised super computer projects that are popping up all over this arena now.

I'm looking for something new something that gives me more than what these have and has to give it to me at a price that looks like a deal not already priced in and too expensive.

Please research bay in depth, then if you find something else to rival bay for the same or less please point me in the right direction.

I do not however make light of the valid concerns you have made but at this point the risk vs reward is a good ratio to me so I have no second thoughts at this point of hold and still accumulating more. When pegging is completed and all other spending features are completed fully and this is all polished I will still be accumulating up until a top 10 position for this project. I can envision it eventually becoming a base market for exchanges in the future too.

[Viper1]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

I know that people really love to believe their favorite coin or whatever is decentralized, but in the case of this one, it's currently "centralized" in the developer himself. The moment he stops (is hit by a bus or something else happens), just like all others where the dev left, it will die. Him also having at least 10% (no one can be believed in this space and he could have far more than that), well that's a hell of a lot and cause for concern. It used to be that any coin that had a premine etc. of that sort of amount was immediately classified as a scam/garbage etc and avoided. Now of course people just accept it all as normal and make up all sorts of things to justify it.

His stating that this coin cannot be stopped by any country etc is just laughable and the fact that he's put that out there just has to make someone start to question more. Tor traffic can be detected and blocked. Bittorrent traffic can be detected and blocked. Sure, it wouldn't be cost effective to try and stop absolutely everyone, but you stop the majority and anything relying on it is dead. Seriously. I mean all you have to do is read the freaking wikipedia page about Tor. Just because no one really gives a shit about all this stuff right now doesn't mean it can't/won't happen down the road.

Another issue I have with this coin is that the marketplace is subject to the deal/licensing of Halo. Have all the specific details on that been made public? Would think that should be right in the OP of the coin as it's pretty important. Without it though, the marketplace no longer exists which makes it a risk.

At the end of the day though, this coin is no different than 99% of the others out there. It hasn't solved any real fundamental problems, offers a bunch of "stuff" that makes it seem like it has some sort of value and it serves no other purpose than a way for people to make a bunch of money for as long as it lasts. So as long as that's all you're interested in, then by all means, this one is as good as any other.

You have made some valid points but it boils down to this at the end of the day when talking about valuation..... show me a project that offers more for less. It has a functioning unbreakable smart contracts market that is getting more and more versatile every update, it has a functioning governance feature (one major issue solved) it has a rolling peg being developed (will solve spiking and troughs ie stability) the scaling of it is also very interesting and a novel approach so that on chain is not bloated and growing to a huge size ( 2 more interesting things being solved). I like the cold staking feature a lot too.

Some of your points are actually valid and a concern but these are also being worked on too. The fact halo is not a bitbay exclusive to me is a concern but halo is owned by the devloper himself so in time if bitbay becomes worth 100M + then I would hope he could remedy this if he still owns 10% of the bitbay minting. Halo is but one part of bitbay though and to me not the most important part the pegging system and all the other features in the market place are equally as important. The fact halo is not exclusive i do not like but then what about all other open source projects they can be copy and pasted at will with no consulting the developers so to me this adds value to bitbay also in that yes he can license halo to another project if he wants in theory but why would he that will destroy his value in bitbay so this is a better situation that where anyone can copy and paste the technology without paying  a license fee. Bay paid 100BTC fee for halo so that is already licensed to bitbay for good.

If you can find me a project that offers me more than bitbay for less I will be all over it.

I am not closed mined so feel free to get me a comparison chart knocked up for bitbay vs X project (that is not just a bunch of dreams and fantasies and that has these features now)

all these dreams and talk ICO's are not to be included. I want real working functioning tech.

Ethereum is perhaps the only project but that is magnitudes more expensive.

LTC is bringing some real word improvements over BTC so i have that already.

Block - yes that is going to be very very useful when it actually comes out fully functional so have that already.

Maid seems to have big plans but again how long will we wait how well will it work in practice how well will it be adopted....same for the decentralised super computer projects that are popping up all over this arena now.

I'm looking for something new something that gives me more than what these have and has to give it to me at a price that looks like a deal not already priced in and too expensive.

Please research bay in depth, then if you find something else to rival bay for the same or less please point me in the right direction.

I do not however make light of the valid concerns you have made but at this point the risk vs reward is a good ratio to me so I have no second thoughts at this point of hold and still accumulating more. When pegging is completed and all other spending features are completed fully and this is all polished I will still be accumulating up until a top 10 position for this project. I can envision it eventually becoming a base market for exchanges in the future too.

Not sure if you've understood my point of view about the "coin". As long as you're going to buy/sell for some "short term" profit, then it's fine. If your plan is to hold for a nice 5x, 10x pump, then yes, that's probably also achievable. But if you think it's some sort of long term investment, then I'd say you need to look at the entire sphere of crypto currencies and realize that there is no track record that anyone can point to which makes that sort of investment anything more than a "dream". i.e. hobby vs business decision.

I'm not going to talk about various concerns regarding pegging as I just view it as a sure fire way to fail long term. People should be viewing it as a risky experiment and be ready to cash out quickly as that's what it's going to be, an experiment. I don't really pay much attention to coins with that sort of thing but didn't some other coin attempt it and fail?

LTC has always been and should always remain the silver to bitcoins gold so it's always a decent one to hold if you want to hold I suppose. But the buying should have happened awhile back now.

Block as in blocknet? Don't trust them in any way so would never do more than trade for short term profit.

Etherium. Any of these coins that seem like they want to get in bed with the current financial system (Etherium, Ripple etc), I would never do more than take short term profits from.

Maid. I keep hearing it mentioned recently but haven't got around to checking it out yet.

Basically, there is nothing worth "holding". Coins fall into 3 categories for me. 1, avoid at all costs as it's most likely a scam (which means I basically avoid all ICOs and anything with a large premine etc). If they survive after the launch, then they might move to the next category. Trade for profit. Short term profit taking and that's it. The last category is reserved for those that I think "could" have a future but since nothing is worth sticking money in and praying you guessed right, I do accumulation trading.

Having said all that, there is only one thing in this sea of crap that I stumbled across that could be interesting as it's very different and it's use could be massive. However, the tech is unproven and I'm still trying to figure out it's pros and cons etc. I'm also trying to figure out whether the team behind it is "solid" and if they have any real vision and a solid plan for leveraging the full potential. I've looked at probably hundreds of coins over time and this is the only one that has really piqued my interest.

Which, brings up something else that should be asked about this coin.. or in fact, any coin you're going to look at.

1. What exactly is it as I can't tell. Seems to be trying to be a few things. In things like the movie industry, you have to make a 1 or 2 sentence "pitch" for your idea. I've used that in a variety of industries and it works. So what would that be for BitBay.

2. Who are the target users of the "product"?

3. What is being done to grow that user base?

4. Who are it's competitors and what is being done to compete and grow it's market share?

That's some really basic stuff that has to be answered for any sort of product. Here's what's really interesting about asking questions like that. More often than not, most can't answer the questions and/or you'll hear people say that it's too early for that and they'll do it later. Never happens. Speaking from experience, actually taking a piece of tech and being able to market it effectively is a whole other skill set and the vast majority fail at it. Think about all the coins that really shouldn't be "big" but came out of the gate marketing like crazy and basically pushed themselves into the top on marketing alone. How many perfectly fine coins have come out but died as there was zero effort to promote it. In the past I've gone to some coins and talked about the importance of working on adoption and got people saying it's not time or not important yet. Fast forward a couple years and, if they're still alive, they still haven't done anything and it's stagnant.

I'm not really asking or expecting anyone to answer these questions for BitBay. I've put it out there as more for something people should think about when they're looking at other things to put their money into.

[cryptohunter]

In what way exactly is this one supposedly the "first" marketplace? I seem to remember perusing the NXT one long before this one existed. Or is it by sticking "decentralized' in front of it and that they feel they can then make that claim.

BAY has a functioning decentralized marketplace. With decentralized being the important part, if not the most important part. The whole crypto started to bring more decentralization, to make bartering trustless for the users.

I know that people really love to believe their favorite coin or whatever is decentralized, but in the case of this one, it's currently "centralized" in the developer himself. The moment he stops (is hit by a bus or something else happens), just like all others where the dev left, it will die. Him also having at least 10% (no one can be believed in this space and he could have far more than that), well that's a hell of a lot and cause for concern. It used to be that any coin that had a premine etc. of that sort of amount was immediately classified as a scam/garbage etc and avoided. Now of course people just accept it all as normal and make up all sorts of things to justify it.

His stating that this coin cannot be stopped by any country etc is just laughable and the fact that he's put that out there just has to make someone start to question more. Tor traffic can be detected and blocked. Bittorrent traffic can be detected and blocked. Sure, it wouldn't be cost effective to try and stop absolutely everyone, but you stop the majority and anything relying on it is dead. Seriously. I mean all you have to do is read the freaking wikipedia page about Tor. Just because no one really gives a shit about all this stuff right now doesn't mean it can't/won't happen down the road.

Another issue I have with this coin is that the marketplace is subject to the deal/licensing of Halo. Have all the specific details on that been made public? Would think that should be right in the OP of the coin as it's pretty important. Without it though, the marketplace no longer exists which makes it a risk.

At the end of the day though, this coin is no different than 99% of the others out there. It hasn't solved any real fundamental problems, offers a bunch of "stuff" that makes it seem like it has some sort of value and it serves no other purpose than a way for people to make a bunch of money for as long as it lasts. So as long as that's all you're interested in, then by all means, this one is as good as any other.

You have made some valid points but it boils down to this at the end of the day when talking about valuation..... show me a project that offers more for less. It has a functioning unbreakable smart contracts market that is getting more and more versatile every update, it has a functioning governance feature (one major issue solved) it has a rolling peg being developed (will solve spiking and troughs ie stability) the scaling of it is also very interesting and a novel approach so that on chain is not bloated and growing to a huge size ( 2 more interesting things being solved). I like the cold staking feature a lot too.

Some of your points are actually valid and a concern but these are also being worked on too. The fact halo is not a bitbay exclusive to me is a concern but halo is owned by the devloper himself so in time if bitbay becomes worth 100M + then I would hope he could remedy this if he still owns 10% of the bitbay minting. Halo is but one part of bitbay though and to me not the most important part the pegging system and all the other features in the market place are equally as important. The fact halo is not exclusive i do not like but then what about all other open source projects they can be copy and pasted at will with no consulting the developers so to me this adds value to bitbay also in that yes he can license halo to another project if he wants in theory but why would he that will destroy his value in bitbay so this is a better situation that where anyone can copy and paste the technology without paying  a license fee. Bay paid 100BTC fee for halo so that is already licensed to bitbay for good.

If you can find me a project that offers me more than bitbay for less I will be all over it.

I am not closed mined so feel free to get me a comparison chart knocked up for bitbay vs X project (that is not just a bunch of dreams and fantasies and that has these features now)

all these dreams and talk ICO's are not to be included. I want real working functioning tech.

Ethereum is perhaps the only project but that is magnitudes more expensive.

LTC is bringing some real word improvements over BTC so i have that already.

Block - yes that is going to be very very useful when it actually comes out fully functional so have that already.

Maid seems to have big plans but again how long will we wait how well will it work in practice how well will it be adopted....same for the decentralised super computer projects that are popping up all over this arena now.

I'm looking for something new something that gives me more than what these have and has to give it to me at a price that looks like a deal not already priced in and too expensive.

Please research bay in depth, then if you find something else to rival bay for the same or less please point me in the right direction.

I do not however make light of the valid concerns you have made but at this point the risk vs reward is a good ratio to me so I have no second thoughts at this point of hold and still accumulating more. When pegging is completed and all other spending features are completed fully and this is all polished I will still be accumulating up until a top 10 position for this project. I can envision it eventually becoming a base market for exchanges in the future too.

Not sure if you've understood my point of view about the "coin". As long as you're going to buy/sell for some "short term" profit, then it's fine. If your plan is to hold for a nice 5x, 10x pump, then yes, that's probably also achievable. But if you think it's some sort of long term investment, then I'd say you need to look at the entire sphere of crypto currencies and realize that there is no track record that anyone can point to which makes that sort of investment anything more than a "dream". i.e. hobby vs business decision.

I'm not going to talk about various concerns regarding pegging as I just view it as a sure fire way to fail long term. People should be viewing it as a risky experiment and be ready to cash out quickly as that's what it's going to be, an experiment. I don't really pay much attention to coins with that sort of thing but didn't some other coin attempt it and fail?

LTC has always been and should always remain the silver to bitcoins gold so it's always a decent one to hold if you want to hold I suppose. But the buying should have happened awhile back now.

Block as in blocknet? Don't trust them in any way so would never do more than trade for short term profit.

Etherium. Any of these coins that seem like they want to get in bed with the current financial system (Etherium, Ripple etc), I would never do more than take short term profits from.

Maid. I keep hearing it mentioned recently but haven't got around to checking it out yet.

Basically, there is nothing worth "holding". Coins fall into 3 categories for me. 1, avoid at all costs as it's most likely a scam (which means I basically avoid all ICOs and anything with a large premine etc). If they survive after the launch, then they might move to the next category. Trade for profit. Short term profit taking and that's it. The last category is reserved for those that I think "could" have a future but since nothing is worth sticking money in and praying you guessed right, I do accumulation trading.

Having said all that, there is only one thing in this sea of crap that I stumbled across that could be interesting as it's very different and it's use could be massive. However, the tech is unproven and I'm still trying to figure out it's pros and cons etc. I'm also trying to figure out whether the team behind it is "solid" and if they have any real vision and a solid plan for leveraging the full potential. I've looked at probably hundreds of coins over time and this is the only one that has really piqued my interest.

Which, brings up something else that should be asked about this coin.. or in fact, any coin you're going to look at.

1. What exactly is it as I can't tell. Seems to be trying to be a few things. In things like the movie industry, you have to make a 1 or 2 sentence "pitch" for your idea. I've used that in a variety of industries and it works. So what would that be for BitBay.

2. Who are the target users of the "product"?

3. What is being done to grow that user base?

4. Who are it's competitors and what is being done to compete and grow it's market share?

That's some really basic stuff that has to be answered for any sort of product. Here's what's really interesting about asking questions like that. More often than not, most can't answer the questions and/or you'll hear people say that it's too early for that and they'll do it later. Never happens. Speaking from experience, actually taking a piece of tech and being able to market it effectively is a whole other skill set and the vast majority fail at it. Think about all the coins that really shouldn't be "big" but came out of the gate marketing like crazy and basically pushed themselves into the top on marketing alone. How many perfectly fine coins have come out but died as there was zero effort to promote it. In the past I've gone to some coins and talked about the importance of working on adoption and got people saying it's not time or not important yet. Fast forward a couple years and, if they're still alive, they still haven't done anything and it's stagnant.

I'm not really asking or expecting anyone to answer these questions for BitBay. I've put it out there as more for something people should think about when they're looking at other things to put their money into.

I think you are on the right lines actually but I do not think you have studied bitbay in depth. The reason i say this is.

1. Everything you say which is correct in part will write off every alt coin except perhaps LTC. So yes if you really want to stick to your process for long term investing then there is nothing alts can offer you that I am privy to at this time. I would invite you to reveal to me now or through PM this other project of interest you mention. I would like the opportunity to make a comparison to my other investments so that I may perhaps take a stake in something that sounds so interesting.

2. the questions that you pose for bitbay can be leveled at any alt and again 99.99% of them will have a less legitimate and satisfying response than what bitbay can honestly offer you.  I could answer those questions for you and from those answers you and anyone could deduce that bitbay therefore is superior to any other alt indeed not only in and below its current MC valuation but magnitudes higher also. The actual use case for bitbay are literally so numerous that only ethereum can rival it from those that are not just selling dreams and have tech there now that people can use. I would rather though people investigate bitbay deeply themselves and reach their own answers. The target and use case for the completed bitbay project is the strongest i have seen and is so vast you could spend years identifying them. But in broad strokes just about anyone that wishes to trade or barter or bet just about anything in a trustless manner ...with 3rd party scripts or apps running on top of it bitbay will provide so many services that the mind boggles. This covers such a vast array of possibilities but yes there is more work to do so i won't sell dreams. The thing is the tech is there it is real you can use it now the fine tuning and tweaks and app integration is outstanding so is the peg but the design he has already and obviously he can code out his designs.

I still do not say anyone should put all eggs into one basket of course. Bitbay is my fav alt but I am not even a top 50 holder of this project. I like to have several projects of interest because as you say they all have points of failure. Having said that i still ask anyone to bring forth a project that already provides so much for so little. 10M market cap is as you say good for another 10x if not far greater soon. We will wait and see of course where we are in 2yrs time. This however is not a project easy to pump and dump there are lots of holders and the largest the dev who is 100% believer and will introduce the peg so he cant even dump even if he wanted to. I mean if you have even spoken with him one on one and asked him some questions or listened to what he wants to achieve you will start to realise that this is not your average copy and paste developer. I would not usualy give much hope to a one person designer coder project because their peers of equal ability have a good chance of grouping together and out doing them. In this case however there are always exceptional people and in the field of conceptual design sometimes one great mind is superior to an army of lesser minds. Quite often when i read about people of exceptional ability they are better working alone and even if forced into a team environment the great breakthroughs and major work is still often as a direct result of their mind not the cumulative result of being part of a team. Other very good designers and coders complained to me when i have bugged them with my questions.. that actually working with other coders and designers is often a nighmare due to ego, differences in ability and just a general interface issue between them. In most cases though I agree a team is better than an individual if the tasks are easy to separate and agree on.


Either way if you still study bitbay deeply and make fair comparison to every other alt and say it is not cheap nor a long term hold then I will not argue with you because I will not be able to change your mind. Your reasoning will just be different from my own and only the future will decide which of us made the correct choice. Everyone should make up their own minds then you will over time learn where you went right and where you went wrong. Then you can start to correlate these things and develop a good system for picking out the good and the bad.

[dzimbeck]

...

Hey so I see you saying a lot of things that you seriously make up as you go. Do you enjoy arguing with people or do you have a genuine interest in making the world better?

To say "this coin doesn't bring new things to the table" to me is one of the most absurd things you could possibly say (no offense). I have busted my ass, blood sweat and tears to work on BitHalo and was then hired and propagandized on BitBay just to bring the world double deposit escrow, unbreakable contracts.
The problem with society that I have repeated like a broken record, and will continue until the worlds ears bleed, is that third parties are the problem... middle men are the problem. This software, which has taken me about 3+ years to develop ALONE (I would fucking love you to show me another project who has a dev to claim this) was all done to bring unbreakable contracts to the world to people like you.

Double deposit escrow is arguably more disruptive than Bitcoin. The theory being that both parties invest a deposit into a joint account and thus there is an enforcement layer and a deterrent if you will that forces the assailant to face his victim and lose funds if he deceives the counter party. The theory is to bring honest people above deceptive ones in society. When I first thought about this, I was so excited I taught myself Python from scratch and built this shit. So to tell me and others who see the value in it that this doesn't bring something to the table is utter bullshit.

Unbreakable double deposit contracts are the ONLY way to do peer to peer trustless cash deals since arbiters cannot possibly know or enforce international cash deals. This means a peer to peer cash gateway in BitBay and BitHalo respectively. That is so signifigant its mind blowing. Also, the contracts and markets being anonymous cannot be shut down even if I "die" so to speak. The source code is open and someone can pick up the torch where I left off.

Unbreakable contracts SOLVE the problem with unreliable international outsourcers that pad their hours and lie about credentials because the employee and employer put up a deposit and thus would both lose if the employee tries to lie about their hours. This in the long run saves the employer endless amounts of money because they will force employees to do the impossible: THEIR JOB. I've used it myself and it works. Yes I drink the kool aid.

Unbreakable contracts SOLVE the "empty box" and shipping fraud scam. I even had a friend who lost 100k+ in supplies in a shipping theft and when suing the party spent his life in court unhappy because nothing came out of it even when he won they didn't pay. This system solves it because empty boxes and other tricks are enforced by the deposits so it REMOVES THE PROFIT INCENTIVE FOR THEFT.

Unbreakable contracts allow TRUSTLESS BARTER and farm co-ops and thus is the ONLY peaceful contract that would work in an anarchy. Its the ONLY contract in history NOT BACKED BY GUNS. Behind every lawyer is a gun!

Up to 50% of Bitcoin at least has been stolen due to escrow theft (mt gox, sheep market, silk road, cryptsy, bitfinex, mintpal etc etc etc). If any of those platforms had double deposit the theft would never have happened (most were inside jobs of course). Bringing me to Open Bazaar and BitSquare which 2 of 3 escrow can easily be stolen by escrow agent colluding as buyer/seller and being anonymous posing no risk. That 3rd party?? GONE.

And don't even get me started on the "wall of features" in BitBay. Anti-Keylogger, Steganography and pay to email, BitHalo itself being the worlds first multisignature software before Armory. The security is so pumped up that it would be a joke to try and hack these accounts with your keys hidden in images and the automated 2 step spending joint account features to let a user sign a TX using two computers!!

This coin isn't different?? Screw that, show me one coin that has a piece of software with contracting user interface. NXT contracts were totally arbitrated and breakable and the markets had no enforcement layer and wasn't decentralized. These markets are because they are serverless and based in Bitmessage, they are not bloatware or blockchain based. And furthermore even Ethereum doesn't have a UI for offer/counteroffer contracts and even if they could do double deposit they have no interface for it. This interface has taken a chunk out of my life to make for people like you! To help consumers have better lives.

And me having 10% was know, all the addresses posted on reddit, I already had my name mocked by government trolls and had to deal with this cesspool called "bitcointalk" run by Theymos who works for a senate office. I was lucky to have a community in my corner who supported me. I didn't even give myself that 10% it was given to me by the founders who left with the funds. At this point, its a vested interest and I don't even sell any Bitbay ask the hundreds of community members who talk to me daily on slack. I've been working 3+ years WITHOUT FUNDING. And a shout out to all the other devs in crypto who go unnoticed for your hard work while investors bitch. I feel your pain! The devs who work like dogs without funding. I'm one of the few, I think there are a couple others. Granted, I hold crypto and made money from simply holding coins. But I can't trade and code. Try it yourself tell me how it goes.

And while we are on the subject of premines... say hello to Bitcoin!! You don't have a problem with Craig Wright, the NSA, and FBI members who ran silk road and all the govt thefts and hacks to steal so many Bitcoins not to mention it being popular on Tor made by the Navy and "Sathosi" having billions in coins or the WinkleVoss Twins who could crash the market in an instant if they wanted. Or how about people collectively selling?? I will argue Bitcoin has no better distribution. I don't even hold the most coins, there are a couple investors who bought up a big chunk in Bitbay too.

If you don't like people holding a big amount of supply I would avoid the USD since the federal reserve is allowed to DOUBLE SPEND printing infinite amounts of money and giving themselves funds for free in electronic accounts with their criminal friends at Swiss bank who used to have like 70% of the worlds secret money supply or how about the military who embezzles trillions of dollars and conveniently keeps their names off Forbes?!

Or you don't like premines how about DRK which is now DASH which had a signifigant premine almost 100% by the devs. And then there was Ethereum who has probably a premine as bad as DRK which somehow magically sold itself out for 40 million despite NOT HAVING A PRODUCT. And then they just so fortunately get deals with Microsoft and huge banks. Then all their ETH ICOs has Gavins name on them, they fund in minutes without hardly any marketing where its pretty clear the devs buy their own ICOs. And then there is the DAO where they obviously gave themselves kickbacks since it raised 100 mil, had a bug they audited and exploited and probably a few insiders shorted.

Look at wall street. Companies where the stock only sellls a few percent of its supply and the board of directors almost always holds more than 51% of preferred shares and those trade trillions of dollars.

So honestly your points are not true. You just haven't done the research. You aren't me, you don't know the investors and why they are so excited about double deposit.

And lastly without going too much into it, you mentioned the peg has been tried before in other coins? Not true. You just don't understand how I'm doing the peg. Its done by freezing and unfreezing supply evenly for ALL users its not opt in and gives various liquidity speeds for the money since the frozen funds are slowed with an option to transfer in a one month time lock. This is the ONLY way to do a decentralized peg. Its not a hard peg but we could make it that way, its more like a "crawling peg" in economics.

All the other coins that did pegs failed because those were CENTRALIZED. Nubits uses custodial accounts who front run the market and absurd interest rates offered for parking and then burn so you don't hold ownership over previous liquidity. NuBits peg failed before. Tether is of course centralized and already broken below a dollar and run by same parent company as Bitfinex?? Yeah we know where thats going. And lastly BitUSD and market pegged assets of BitShares are the closest to being valid however they rely on trading tricks and experience low liquidity and are subject to black swans and the whole set of pegs can crash if BitUSD crashes.

Ours doesn't have any of those flaws, is as simple as it sounds, control of supply by freezing and unfreezing. Yet quite complex to code and I wrote a 20 page whitepaper.

The code itself is 50,000 lines of completely original code. So you were saying what does this bring to the space? What doesn't it bring?

Actions speak louder than words, my software works and actually does something. And people even have started to use it! See it in action for yourself:
https://www.youtube.com/watch?v=HrXUZRGd1hE

And sorry if I come off as emotionally invested, I am... can't help it. I really want double deposit escrow to be known and used in this space. SDC tried to copy it but they failed and abandoned the brand. I'm hoping more people will attempt it but I know its hard because of how much work this was.

If you don't believe me, try and code it from scratch yourself and I think you will change your tone.

[Johnny00]

Great post David.  Viper won't show his face again

[Viper1]

Great post David.  Viper won't show his face again

Actually no. I just don't see anything really worth directly responding to. I'm referring to big picture things the coin doesn't solve and he's talking about "features". He believes that centralizing the coin in himself and thus putting everyone's money at risk is fine and I don't. Being emotionally invested is fine, as long as you're being responsible as well and I'm not seeing it. I do note however that over here he talks about how great pegging in the coin will be while in the official thread he admits at least one flaw and how it could result in a hard fork. At this point continuing any discussion isn't worth anyones time. There are true believers and there are not and not much will change that.

[dzimbeck]

Great post David.  Viper won't show his face again

Actually no. I just don't see anything really worth directly responding to. I'm referring to big picture things the coin doesn't solve and he's talking about "features". He believes that centralizing the coin in himself and thus putting everyone's money at risk is fine and I don't. Being emotionally invested is fine, as long as you're being responsible as well and I'm not seeing it. I do note however that over here he talks about how great pegging in the coin will be while in the official thread he admits at least one flaw and how it could result in a hard fork. At this point continuing any discussion isn't worth anyones time. There are true believers and there are not and not much will change that.

The fact that this is all you got from reading that shows how poor of a listener you are. Nobodies money is at stake. Double deposit doesn't have third parties. I can't shut down the markets even if I wanted to. The cat is out of the bag. And speaking of people's money. All the investors profited.

Lastly the pegging has no flaws. It's just going to remove the need for a market maker and replace him with technology. It's the only way in the world to do decentralized pegs, doesn't rely on trading tricks. If you had more humility or was a better listener you might actually learn how the protocol works. It's very clean and pure and simple. I doubt we would ever need to fork because money always moves. If we ever had to it would be to improve it. Bitcoin sucks because they are not improving protocol and fearful of forking. It's a joke forking is great it means you are constantly maintaining and improving protocol. We have decentralized voting and recently voted on a fork so it's absurd that you think the coin is all about Zimbeck. It will exist without me. It was designed to work in an anarchy.

And lastly, if a piece of software isn't a sum of its features then I'm not sure what it is.

You talk about us having features as of its a bad thing. Almost hilarious you came to shill and complained about me having features. Sad but funny.

I drive a car because of its utility, I use computers for their utility. Bitbay has more utility than almost every other coin which is vapor marketing nonsense. Unless you want to argue in the favor of Dogecoin?

Didn't think so, adios. Aparrently the only thing not worth responding to is you. Come back and talk to us again when you grow up and gain some humility. When that time comes we will be happy to answer your questions.

[Viper1]

Almost hilarious you came to shill.

Shill? Exactly what was I shilling? I was having a conversation with someone else about BitBay AND coins in general, and you showed up. Instead of answering the valid concerns listed, you went off on a massive rant about yourself and some coin features as if you were butt hurt. That's why I view it as not worth responding to.

I'm not even going to address the "humility" thing as it's ludicrous when looking at your posts or even the ANN for Bitbay. You seem to want to get into some sort of who's dick is bigger contest. I will just throw this out there though, that I've been coding and putting out products for over 30 years now, almost half of which "self employed". So I'll be long dead before you catch up in terms of accomplishments and amount of code written lol.

Note that I've never gone into your thread. In fact I've avoided doing so as I didn't want to get into this sort of thing as people just start to chalk it up as FUD etc and it brings out all the trolls. But, you seem to want to go there and so I've been going back through all the initial scam stuff about this coin to refresh my memory of events and have seen a variety of things you avoided answering back then. You seem to have a history of avoiding answering things in fact.  I even completely missed something interesting the first go around. If you want to waste your time answering some questions I can bring up from all of that, then we can certainly go there. But I'm pretty sure you have more important things to do and it wouldn't change much in terms of all your true believers.

Pegging

I can see the peg falling into the situation you described. A few potential risks is it is deflated too much so the price goes way too high and cannot be recovered to that target. Another risk is the network can't agree on a supply so it gets stuck at a certain level.

But consider that there is always changes to the economy and the ones holding. So most likely it would never really get stuck at a specific supply. Someone who buys up 100% of the liquidity would end up seeing the supply inflate. So i think as long as there is consistent demand that is something we shouldn't worry about.

But lets say this happens. Then we would want to consider forking to update the algorithms perhaps?! The cool part about this is that its an awesome social experiment so we can see how it goes and adjust and get inspired to improve upon it with better algorithms.

In theory, we can do it based purely on algorithms without voting but for now I really like combining the two.

That was a couple days ago to the investors. Over here you're saying something different. I do like how you're at least honest in saying you don't have a clue if it will work or not and that it's an experiment.