Why I'm Long and Bullish on BitBay

[HVCC]

I've been in the BitBay slack (link: http://bitbay.market/wp-login.php?action=slack-invitation) for quite some time. Throughout my time chatting with the developers and core group of investors, I never got the impression that anyone was out for a quick buck or run their mouth off about vaporware that may never see the light of day. In addition, David Zimbeck has released his updates in a timely and seems to show a grand enthusiasm for making the best possible market client he can.

Unlike other cryptocurrency projects, BitBay is not a promotion or vaporware. This crypto software is available for you to use today, for free, and does exactly what it says. Many investors speculate on coins, not even bothering to download the software and see the power of what it offers. We are trying to fix that. The BitBay Smartmarket Client software has a full user interface and hundreds of features exhaustively tested over the years. There is absolutely nothing like this anywhere in the digital currency world.
The most innovative feature will be the upcoming “rolling peg” system, which will allow for the removal of much of the volatility experienced by most average digital currencies. To explain in the simplest manner possible, the rolling peg will operate by freezing and unfreezing the coin supply, allowing for a soft peg to a predetermined value. The team is hard at work and the rolling peg anticipated to be released near the end of 2017.

So, without further ado, the following is a comprehensive list of all that BitBay has to offer TODAY, right now, at this very second:

Unbreakable contracts (P2P means NO blockchain bloat!)
Decentralized Anonymous Markets (P2P, no blockchain – stronger than Tor!)
*Multisignature wallets w/ dual passwords - hide passwords inside PNG/JPG images! In fact, encrypt ANY file you want into an image using our marketplace client! Perfect for secure and safe transmission of sensitive material.
Automated Joint accounts and the ability to sign transactions with 2 computers makes for some of the best security in Crypto.
User-friendly templates for contracts.
Tutorial videos – learn how to use the BitBay client step by step!.
IMAP under-the-hood full integration with email, automated negotiation of contracts.
Price tracking so orders always maintain price.
Bitmessage fully integrated decentralized Email and Markets.
Translates to 90 languages.
Unique change management system which breaks all the change into denominations.
Easy to use accounting panel.
Live Python Debugger, run the interpreter within the software.
Advanced sending with multi-pay options.
”Pay-to-email” tipping system. Hide payments in images direct to email.
Full Offer/Counter-Offer negotiation system.
Escrow panel w/ a variety of options, anonymous chat.
Feedback and reputation system, see how many contracts gained and lost. Perfect way to check up on who you’re doing business with.
Serverless - everything in BitBay is Peer-to-Peer.
Decentralized moderation keys available to trusted users.
Custom contracts and all kinds of contact options.
Start your own market, completely anonymous.
Cash-for-coins template.
Custom contract template – make your own smart contracts!
Decentralized “Local Bitcoins”: Send wires without the fear of theft due to Double deposit.
Decentralized exchange of cash for coins.
Buy/Sell anything without “Empty Box Scam” NO ARBITER NEEDED. Self-enforcing trade even with untrusted parties.
Works like a decentralized trustless Ebay… NO MIDDLEMEN, NO ESCROW NEEDED!
Cold Staking using two computers, impossible to hack joint-account staking.
Custom Staking with Voting! Completely trustless voting and donations via staking.
Anti-Keylogger: A special on-screen keyboard to obliterate keyloggers once and for all. Even mouse movement loggers will be no match for this unless every movement is recorded.
Tor and proxy options for internet requests.
Unbreakable Employment contracts. Double deposit escrow makes it happen!
And, and additional list of features planned for the future…

Exotic spending… we will have the world’s first client to support time locks in the UI, deadman’s switch and burn and parking and freezing coins all supported within the UI Coming Soon!
”Mom Friendly” templates to ensure even those unfamiliar with the crypto world will be able to utilize BitBay to its full potential. No need to think up your own long list of “terms and conditions” for your anonymous self-executing contracts.
Buy/Sell template featuring multiple shipping options including a calculator and options to bill in escrow.
Employment template featuring the ability for weekly reports and auto-payment within contract. Payments contingent on reports.
Barter contract with amazing “wish list” where each item can be calculated converting kilograms to hours (ex. bility to know exactly how many “Avocados” you need for a pound of “Tomatoes”). Perfect for farming co-op in 3rd world countries. Perfect for trading used items!
Reverse auctions! Sellers bid for you, the buyer.
Normal Auctions (Ebay style decentralized auctions).
Python contracts: Use the python interpreter to make contracts between peers. Pre-approved contracts potentially possible for verified devs and audited code on github.
API.

[thehiddenconifold]

Also the fact that Bitbay is highly undervalued with respect to its current competitors as well as the extent to which the client platform has been completed. One of the best Low Cap coins to buy and hold for the time to come.

[HVCC]

It is just nice to use something that isn't vaporware. BAY's time will come.

[thehiddenconifold]

I could see BitBay reach 5k sats at the very least by year end, specially with the peg planned to come at that time.

[tokeweed]

But how's the platform working?  And how do you think it'll scale?  The problem with these decentralized platforms is its ability to scale when transactions increases enough to become meaningful. 

It's admirable to see dzimbeck keeping at it, continuing development despite everything he went thru with this project tho.  Keep it up.

[thehiddenconifold]

But how's the platform working?  And how do you think it'll scale?  The problem with these decentralized platforms is its ability to scale when transactions increases enough to become meaningful. 

It's admirable to see dzimbeck keeping at it, continuing development despite everything he went thru with this project tho.  Keep it up.

The Platform works well, though there are cosmetic changes that need to be done to make it visually appealing. Since the platform is P2P, I imagine scalability could be managed in a more efficient way. Maybe the Dev could comment more on that. 

[HVCC]

But how's the platform working?  And how do you think it'll scale?  The problem with these decentralized platforms is its ability to scale when transactions increases enough to become meaningful. 

It's admirable to see dzimbeck keeping at it, continuing development despite everything he went thru with this project tho.  Keep it up.

The Platform works well, though there are cosmetic changes that need to be done to make it visually appealing. Since the platform is P2P, I imagine scalability could be managed in a more efficient way. Maybe the Dev could comment more on that. 

Yes, the P2P nature will greatly improve the ability to manage the scalability. I am in total agreement that the cosmetic features and UI in general will need moderate to huge upgrades to be intuitive to the average user, but I am also of the perspective that those changes will only be a hop and a skip away after the majority of the fundamental tech is in place.

[Fragbait]

I've recently conducted over 10 trades on the BitBay marketplace using the contract that has BAY tokens as escrow collateral, and it was very useful for avoiding 3rd party escrow agents which I wouldn't have known who to trust anyway, and they could run with the money just like anyone else. They only have their reputation to lose, whereas with double deposit escrow they lose money if they scam.

So yeah, it's not vaporware, it can be used now. Still quite a bit of work to be done with ease of use before your every day user can start using it, but that's what's being done over at Bay every day.

[thehiddenconifold]

But how's the platform working?  And how do you think it'll scale?  The problem with these decentralized platforms is its ability to scale when transactions increases enough to become meaningful. 

It's admirable to see dzimbeck keeping at it, continuing development despite everything he went thru with this project tho.  Keep it up.

The Platform works well, though there are cosmetic changes that need to be done to make it visually appealing. Since the platform is P2P, I imagine scalability could be managed in a more efficient way. Maybe the Dev could comment more on that. 

Yes, the P2P nature will greatly improve the ability to manage the scalability. I am in total agreement that the cosmetic features and UI in general will need moderate to huge upgrades to be intuitive to the average user, but I am also of the perspective that those changes will only be a hop and a skip away after the majority of the fundamental tech is in place.

Yeah, with the bounty program off I imagine that should be worked out in the near future. The marketplace looks very bland now, it needs to be appealing to the eye. Thats how large companies gather interest because it works so well everytime.

[lengfeng847]

xotic spending… we will have the world’s first client to support time locks in the UI, deadman’s switch and burn and parking and freezing coins all supported within the UI Coming Soon

This is a good choice, I am looking forward to  these new features ！

[HVCC]

xotic spending… we will have the world’s first client to support time locks in the UI, deadman’s switch and burn and parking and freezing coins all supported within the UI Coming Soon

This is a good choice, I am looking forward to  these new features ！

The security features alone are incredible imo. Feels safer than the womb lol

[Munti]

But how's the platform working?  And how do you think it'll scale?  The problem with these decentralized platforms is its ability to scale when transactions increases enough to become meaningful. 

It's admirable to see dzimbeck keeping at it, continuing development despite everything he went thru with this project tho.  Keep it up.

The market (and smart contracts) are run over bitmessage -not on the blockchain, so no bloat there. David got that right. No need to save every deal on the blockchain.
For the coming years the blockchain has more than enough capasity. And if we someday in the future reach max capasity, it can be delt with easily. It is possible to increase blocksize or implement segwit for instance. Or we could move the whole smart contract platform to a blockchain with a different architecture with higher capasity. This is possible because the smart contracts are a seperate layer. And we don't risk a gridlock when it comes to these decissions because we have voting in our software.