Bitbay? are there any projects that offers these features? suggest some please!

[cr197]

The above explanation is very interesting. It is obviously an ingenious design.
It removes reliance upon a centralized party to hold collateral that provides the guarantee of assured value.
Is the reduction of liquid supply rapid or aggressive enough in your opinion?

As the recent bitbay twitter tweet would explain that the last bitcoin dump could have mitigated its losses. Bitcoin dumped around 16% in just 28 hours.
The dynamic peg would have allowed bitcoin holders the ability to freeze 24% of supply if it had the dynamic peg integrated into it.

There is no telling how this could affect the price of bitcoin. It's never been tested on a high volume scale. But it will once it is discovered.
Just imagine how much support could be found by people waiting on the dips when you have a protocol that can enforce protecting a store of value that suites the majority consensus needs.

https://twitter.com/BitBayofficial/status/1332063147012853763

edit:
I would say that is aggressive enough 

[irixo10]

I might not have much information about this project but one thing I have come to understand for a while now is that, once the team within a project is capable of offering good features and not only that, but the team being also able to maintain and improve on those features, the project will stand the test of time; this is to the best of my understanding is what has kept many blockchains platform working till date, whilst they grow both in operations and in users. So I think, for Bitbay not to be widely known shows that the team might have lost interest or failed to keep up to what's expected of them which might then result to less attention from users. Nevertheless, I will check on the platform to understand more and why it really caught your attention to this extent.

[Joe-Bloggs]

I might not have much information about this project but one thing I have come to understand for a while now is that, once the team within a project is capable of offering good features and not only that, but the team being also able to maintain and improve on those features, the project will stand the test of time; this is to the best of my understanding is what has kept many blockchains platform working till date, whilst they grow both in operations and in users. So I think, for Bitbay not to be widely known shows that the team might have lost interest or failed to keep up to what's expected of them which might then result to less attention from users. Nevertheless, I will check on the platform to understand more and why it really caught your attention to this extent.

Yes, download the marketplace wallet and read the white paper also talk to the developer.
I have no reservations at all saying this is by far the most underrated project here if you are using price or market cap as some form of marker.

There are other projects proclaiming they can build something similar but claims I have noticed far more often than not hear remain claims or dreams.

I'm not advocating people leave bitcoin for any alt but some projects have such vast potential gains from sub 300 market caps it is worth considering a small taste be it Bitbay or one of the other interesting and underrated projects.  

Cr197

That is a very interesting link. I think bay has developed an extreme volatility prevention mechanism. It's certainly a stability mechanism rather than a hard peg. The security and cold staking feature is also amazing the voting mechanism. The wall of features on the thread are immense and that was 2018 the last update. I see many updates since then.

[Fern6]

Bitbay is not completed because its exchange is not finished yet. I prefer coins that are more similar to Bitcoin, like Litecoin and Doge. They are easier for people to use. Too complicated Alts like Ethereum or Bitbay aren’t what most people need or want.

[Joe-Bloggs]

Bitbay is not completed because its exchange is not finished yet. I prefer coins that are more similar to Bitcoin, like Litecoin and Doge. They are easier for people to use. Too complicated Alts like Ethereum or Bitbay aren’t what most people need or want.

The decentralized exchange they are currently working on is an extra they are adding to the completed project. They can polish some aspects but their projects is fully functional.
The decentralized exchange is almost to a test level apparently so that is very exciting. Most of Bitbay issues look to stem from 3rd party services letting them down. They are now going to able to avoid that and no longer rely on centralized exchanges.

Simple projects that are almost bitcoin clones are very desirable to some people but it is hard for them to stand out against other alts technically. I have some litecoin and doge also. You

[Fern6]

You say alts that copy bitcoin have a hard time to stand out from bitcoin and other simple coins. So the same for coins that copy ethereum and other complicated coins. You have said yourself you have bitcoin, litecoin and doge so you know this.

[Joe-Bloggs]

You say alts that copy bitcoin have a hard time to stand out from bitcoin and other simple coins. So the same for coins that copy ethereum and other complicated coins. You have said yourself you have bitcoin, litecoin and doge so you know this.

Well Bitbay was the first smart contract capable project and is in no way a fork or copy of ethereum.
Having said that, I take your point that complex projects are not for everyone. If you prefer to use simple designs that is a your choice.

The thread only seeks to examine if Bitbay offers more features and functionality than anything else around its price range or even. 50 or 100x or 500x more expensive.
I'm not a Bitbay maximalist I have a few projects that I'm invested in but Bitbay strikes me as stupidly underrated and undervalued. It's just crazy to me it has a cap that low. If there is anything out there completed and offering anywhere near the useful array of features at anywhere near this price then bring it here.

Strange this rolling peg hasn't been covered more in the crypto media.



I will have a look at TCR but is it completed?
If it's a concept but as yet not test ready then its not a comparison for a complete project.

[Fern6]

What is the point of Bitbay and Ethereum? People only need bitcoin to send coins to each other to pay for things. It is slow so litecoin and doge improved on speed and cost less.

[Joe-Bloggs]

What is the point of Bitbay and Ethereum? People only need bitcoin to send coins to each other to pay for things. It is slow so litecoin and doge improved on speed and cost less.

Well Bitbay and Etherum allow unbreakable contracts. So that opens up endless usecases. Its smart money. It knows only to transfer if the terms of some agreement are met. I love the idea of DDE which bay has.
Both are part of decentralizing many aspects of trade, services etc that would easily be abused if they were centralized.
Sure some of the features are super powerful and super complex especially with ethereum.
The rolling peg is also ingenious and would be ideal for their p2p marketplace.

If you only ever needed to send coins to each other and nothing more and both parties were 100% trustworthy you would never need anything more than bitcoin really. Of course litecoin, doge etc are good to off load the strain and as back ups.

[Fern6]

I don't need smart contracts. Or any of those unnecessary features. I buy things I send them litecoin or doge. It takes seconds.  You should change the thread name because it does not offer more to everyone. It offers nothing extra to me.

[Joe-Bloggs]

Yes you believe it offers nothing additional to you but what if

● you send coins without escrow and get scammed?
 
Or

● you wish to cold stake your coins and receive interest?

Or

● you wished to leave your relative some of your lite coins but wanted them released gradually over time?

I mean with ethereum and smart coins you can do lots of interesting things.
I wish to find out is the a project that can offer more features than others for the extremely low cost of Bitbay?
I'm joining with the Bitbay team to learn more. The more I find out what they are doing, the more I'm convinced they are the best value project out there.

[Rengga Jati]

I track Bitbay in Coinmarketcap as a crypto asset and the data is nothing. It is still empty. But when I tracked the exchange, this is true:
https://coinmarketcap.com/exchanges/bitbay/

If looking at the volume, Bitbay has good trading volume as an exchange. However, if it is a coin, we need to seek deeper as shown in Coingecko
https://www.coingecko.com/en/coins/bitbay
The problem is that is this exchange trusted, reputable, and also great enough?

The price of BAY as the token of Bitbay itself is around $0.21. It is following the other altcoins where they are increasing their price.

[pieppiep]

I track Bitbay in Coinmarketcap as a crypto asset and the data is nothing. It is still empty. But when I tracked the exchange, this is true:
https://coinmarketcap.com/exchanges/bitbay/

If looking at the volume, Bitbay has good trading volume as an exchange. However, if it is a coin, we need to seek deeper as shown in Coingecko
https://www.coingecko.com/en/coins/bitbay
The problem is that is this exchange trusted, reputable, and also great enough?

The price of BAY as the token of Bitbay itself is around $0.21. It is following the other altcoins where they are increasing their price.

I think the price is very good and it might be very expensive because this is an exchange platform so it is impossible to decline, judging from Binance which has the same platform as Bitbay.

[Joe-Bloggs]

Have you read on Tecra and their TCR token? Guys are popular and widely discussed now, cause they are coming with unique product on fundraising field. Curious to discuss with you, cause looks exciting https://tecra.space/

Tell me a bit about it here. Tell me the main points that are good about it that stand out.
I really like completed projects due to the fact I've been scammed before with promises.
Tokens are not usually something I would look at. However something exceptional that was ready and tested could be something g to consider.

People are free to suggest anything they believe offers as much as Bitbay does for comparable investment.
Even projects 10x the cap are welcome as sensible comparisons. So yes ethereum offers very complex smart contracts but does have higher overheads than Bitbay which can still conduct smart (enough) contracts for most cases and has a pegging mechanism. So yes they are kind of comparable. But the price is completely different.

I welcome all comparisons.

[Fern6]

I think what anyone will say you will still claim Bitbay is superior because it have a lot of features. Even when people do not always need them.

[Joe-Bloggs]

I'm not sure that you understand what these features are.
They would protect you from being scammed through the DDE and cut out any middle man fees both for the escrow or 3rd party market place or auctions.

You would find the features very useful. I feel you either do not understand those features and many others Bitbay provides or haven't studied Bitbay at all. It is the most remarkable project that I've found here sitting outside of the top 25.

[Fern6]

I'm not sure that you understand what these features are.
They would protect you from being scammed through the DDE and cut out any middle man fees both for the escrow or 3rd party market place or auctions.

You would find the features very useful. I feel you either do not understand those features and many others Bitbay provides or haven't studied Bitbay at all. It is the most remarkable project that I've found here sitting outside of the top 25.

How does Bitbay operate entirely free escrow, it is for the consumer to trust Bitbay decision. I download their wallet and see nothing.

[Joe-Bloggs]

I'm not sure that you understand what these features are.
They would protect you from being scammed through the DDE and cut out any middle man fees both for the escrow or 3rd party market place or auctions.

You would find the features very useful. I feel you either do not understand those features and many others Bitbay provides or haven't studied Bitbay at all. It is the most remarkable project that I've found here sitting outside of the top 25.

How does Bitbay operate entirely free escrow, it is for the consumer to trust Bitbay decision. I download their wallet and see nothing.

You probably downloaded the standard QT wallet? Try the marketplace wallet this is the powerful one with all of the features.
Watch the instructional videos. Please comment only after spending the time to give it a fair trial.
You appear to have joined and immediately posted negative comments. Test and research what Bitbay is capable of.
Do you see that no member has provided another example of a project that can offer anything like this for the similar or even 10x its market cap.

[Fern6]

I'm not sure that you understand what these features are.
They would protect you from being scammed through the DDE and cut out any middle man fees both for the escrow or 3rd party market place or auctions.

You would find the features very useful. I feel you either do not understand those features and many others Bitbay provides or haven't studied Bitbay at all. It is the most remarkable project that I've found here sitting outside of the top 25.

How does Bitbay operate entirely free escrow, it is for the consumer to trust Bitbay decision. I download their wallet and see nothing.

You probably downloaded the standard QT wallet? Try the marketplace wallet this is the powerful one with all of the features.
Watch the instructional videos. Please comment only after spending the time to give it a fair trial.
You appear to have joined and immediately posted negative comments. Test and research what Bitbay is capable of.
Do you see that no member has provided another example of a project that can offer anything like this for the similar or even 10x its market cap.

I joined to talk about litecoin. I see you are saying that Bitbay is better than all other alts. That is why I comment.
I have downloaded the Bitbay market place wallet. It looks very complicated for a average user. It does look very different than litecoin or dogecoin. I have not watched instruction videos. There is 2 variety of Bitbay coins.

[Joe-Bloggs]

Yes there are 2 states of Bitbay. That is the elastic supply. Some are liquid and others are reserved or frozen.
The liquid supply is determined by both demand and the votes of liquid holders.
That is merely part of the genius.

I The only problem Bitbay has is that most investors in the crypto sector are unable to correctly appraise and analyse new projects.

There is no other project that can really be said to compare with Bitbay and certainly not outside of the top 25 on coinmarketcap.