BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open

[unusualfacts30]

lmfao!! 1 billion coin supply!! this coin is way over priced at the moment, its a safe buy at 10-20 sat not 200-300 sat lol.

NXT has same supply and its worth 4500 SAT.

So your argument is invalid. thank you for playing.

we will see what way this goes, nothing against this coin at all but its very easy for it to be dumped hard with the supply, nxt has been about a good while dont forget and with crypto these days coins are coming and going real fast, pls remember this., ive nothing against this coin but i wont personally be buying atm but wish use good luck.

3000 BTC worth of coins were sold during ICO.

One person doesn't hold half of the market.

Group of people hold the market together.

If one person from that group decides to dump his coins market will still be MORE than stable as you can see if you look at the chart after ICO ended. It's still floating above 200 sat.

I highly doubt that one person is holding more than 200 BTC worth of coins out of 3000

https://chainz.cryptoid.info/bay/#!rich

Ignore first one that is exchange. As you can see coins are divided between many people and it'll be very weird coincidence if 10 top holders decides to dump at the same time causing market to crash.

Bitshares has 2 billion coins and it's trading around 3-4k. This coin has lot of things to offer and more importantly it has the money to implement those things in best way possible.

In other words 200 sat price is bargain and you'll see what I mean once everything is implemented.

Why does any good coin fail after few months? It's not because they aren't great but it's because they don't have capital that is required for proper marketing, development etc. Idea is worthless if you don't have money to back it up. Bitbay is $1.2 million richer than any other coin you'll see in the market. If it hadn't sold that many I would have my doubts but things are going to be great for everyone once they start spending that money in marketing/development etc.

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[Baghead]

I dont really know how any of you took this ICO seriously.

As an investor/believer in this how can we take you seriously, so this is when i stop reading your post and 2 second scan to finish.

What you people do is wrong (no reseach/no facts/+alot of confusion) then trying to create fear is just plain stupid. All you need to do is abit of homework. Everything they have told us has been true and been delivered! (Fact) More than that fact it will be your own fault in the end buddy.

The dev is awsome as a person and at what he does! The internet is your friend to learn i advise you to do that quickly, if you need help on what to search for inbox me and i will be glad to point you to facts.

Mick.

[qawzsx]

Some bla bla

You must be idiot or something...show me one dev who have the guts to just give 2500 BTC to BTER or any other altcoin exchange...
The risk is too great just to make 400-500 BTC.

On top of that, bter is not releasing the full funds...nobody affords to have 2500 BTC stuck with an exchange playing escrow side.

Cut your crap already and take your head out of that sand already.

[qawzsx]

As an investor i request his fud be removed.

Why would some post something like that if they had no interest in the coin to begin with, allegedly?No life maybe? Or maybe both his wrists are sore from being lonely?

Looking at his other posts on other threads you can see hes a serial fudder, and probably has thousands of dollars invested in this coin, and probably thousands more once he can fud-drop Bay's value.

+1

[Mig-23]

the simple thing
how to make this price rebound is asking investors to hold their coin
thats it,..

[toknormal]

Bitshares has 2 billion coins and it's trading around 3-4k. This coin has lot of things to offer and more importantly it has the money to implement those things in best way possible.

In other words 200 sat price is bargain and you'll see what I mean once everything is implemented.

First of all, Bitshares is not a "coin". You're not buying a currency, you're investing in the underlying asset that acts as collateral for the creation and adoption of  other assets. Those asset's creation and adoption directly impacts the value of the underlying collateral due to the mechanics of that blockchain logic.

You can't really compare the two. NxT however is probably a fairer comparison.

Secondly, notice how you justify your use of the word "bargain"........"you'll see what I mean once everything is implemented".

You're treading on well trodden soil here. There are plenty precedents for making a realistic market valuation of "you'll-see-what-I-mean-once-everything-is-implemented" coin.

A year ago "you'll-see-what-I-mean-once-everything-is-implemented" coin could make you big gains if you got in at ground level. But a year later, 280 Sats most definitely is not ground level.

It doesn't mean Bay can't be a viable, successful project. Also doesn't mean that decent gains can be made and that it could even be an exciting project to follow and be a stakeholder in. But at the same time regard every milestone as a bonus if it hasn't already been delivered.

Another thing no note is this: If you look at the last year's history of launches, "you'll-see-what-I-mean-once-everything-is-implemented" coin reaches is maximum valuation when everything HASN'T been implemented. Developments get priced in way before they actually arrive to the extent that when they finally appear the valuation gets dumped. Going on past performance (e.g. NxT, Darkcoin, Mastercoin, Blackcoin, Aurora etc) expect to loose around 75% of the peak valuation when the anticipated features actually appear.

[unusualfacts30]

@toknormal: Bitshares get traded as any other altcoin on exchange so your arguement is faulty. It's like saying URO isn't a coin because it's backed up with collateral (Urea). "Shares" is just an illusion.

As far as other altcoins (DRK, NXT etc) their team don't have money that is required for the development and marketing and that's where BitBay left everyone else behind.

Think of it as two new business in the market...Who would succeed? One who has only IDEA or one who has idea + money that is required to implement the idea successfully?

Why is Bitcoin still ahead of everyone? It's because they have so much money to market it and get more and more investors..not because it's better but because they have the money to implement the process that'll attract more investors. People know about bitcoin but they don't know about altcoins...why? it's because we're poor and BitBay will change it forever.

Please don't compare Bitbay to last year launch or any other coin. How many of those coins raised 3000 BTC during launch?

NONE

At the end of the day we all have to wait till everything is done so why bring your unnecessary arguement? I highly doubt you have anything invested in this coin and I would require a proof if you want to argue further. I would be forced to put you on ignore if that proof isn't provided in your next post.

[TinEye]

I dont really know how any of you took this ICO seriously.

In a deteriorating alt market where volume has already moved from alt exchanges to btc exchanges, it was damn near impossible to sell out of a 3000 BTC ICO.

Let me tell you what happened and whats going on;

The devs bought into their own coins and have been doing so every day of the ICO to create fake demand. For those that dont see the benefit of this, let me explain. When a dev buys into his own ICO, he essentially gets free coins for himself, since the BTC goes right back to him. To make it even simpler, if the dev buys 100 BTC of BAY @ 252 sats each, he will get all those BAY coins, PLUS he will get the 100 BTC back that he used to buy those coins at the end of the ICO.

So, as a dev with nothing much to show for, whats the best way to get an edge on the market? Easy. Dump your coins below ICO price ASAP. Why? Because investors know damn well that theyre not going to sell below ICO price. That would just be stupid. But the dev, who essentially got free coins, can gradually dump coins at any price ans still gain profit because of course, his coins were free. Another advantage of dropping the price below ICO is you lock out the current investors from selling. Devs know many ICO investors are not going to dump below ICO..so they will keep it around that range, while they slow-dump what they can and the ICO investors who refuse to dump are just watching these back and forth swings. Seriously, watch it. Any time some substantial buy support appears, someone immediately sells into it. No one holding over 1 BTC can safely exit and break even anymore.

Because of this, a dev can buy damn near half the supply, if not more, and he'd essentially be holding most of BAY, which is whats exactly going on here. Realistically, I'm sure the devs have made a legit 400 to 500 BTC from the ICO, but the rest was their own buys.

This is one plausible scenario, of course. But it can not be confirmed so no point worrying over it. Devs buying their ICO to increase interest is quite widespread, so I won't be surprised if that indeed happened.

[toknormal]

@toknormal: Bitshares get traded as any other altcoin on exchange so your arguement is faulty. It's like saying URO isn't a coin because it's backed up with collateral (Urea)

I don't think it is like that actually. I think it's exactly as I described it. It is very different from a "coin". I'm not saying it's better or worst but I think I understand it better than you appear to.

As far as other altcoins (DRK, NXT etc) their team don't have money that is required for the development and marketing

...and despite that have had a team of some of the most productive developers in the whole of crypto who have turned out successful results which now garner an increasing audience of asset traders and a sustained top-10 marlet cap position.

Think of it as two new business in the market...Who would succeed? One who has only IDEA or one who has idea + money that is required to implement the idea successfully?

It's one of the defining characteristics of crypto that they are "decentralised". That specifically means that they are not a business. You are not investing in a business by investing in Bay. You don't have any stake in a business the way you do if you actually buy stock. You're simply holding addresses on a blockchain and hoping that adoption will do the job of giving them value. As I say above - I'm not discounting that possibility. By all accounts this is a well planned project which has a reasonable chance of success. But be clear about what you are investing in and where you're returns are going to come from because they're not going to come from any "business" revenue if you're simply holding coins.

Usually the "revenue" from these projects isn't revenue at all. What happens is everybody invests, then waits for the developers to announce "imminent big features. Then the currency pumps on the announcement, everybody sells and takes profits, then the valuation is left on the deck once the actual features arrive. At that point it becomes semi investable for someone who actually IS interested in the long term merits of the project because it has a bit of a track record and people can make up their own minds about what it's worth and what potential it has.

Why is Bitcoin still ahead of everyone? It's because they have so much money to market it and get more and more investors..not because it's better but because they have the money to implement the process that'll attract more investors. People know about bitcoin but they don't know about altcoins...why? it's because we're poor and BitBay will change it forever.

Who exactly is "they" ? The "Bitcoin" company ?

Bitcoin has grown organically. It hasn't spend millions on promition, it's just an organic technological phenomenon than an increasing number of people became interested in and around which markets developed.

[J9901]

I dont really know how any of you took this ICO seriously.

In a deteriorating alt market where volume has already moved from alt exchanges to btc exchanges, it was damn near impossible to sell out of a 3000 BTC ICO.

Let me tell you what happened and whats going on;

The devs bought into their own coins and have been doing so every day of the ICO to create fake demand. For those that dont see the benefit of this, let me explain. When a dev buys into his own ICO, he essentially gets free coins for himself, since the BTC goes right back to him. To make it even simpler, if the dev buys 100 BTC of BAY @ 252 sats each, he will get all those BAY coins, PLUS he will get the 100 BTC back that he used to buy those coins at the end of the ICO.

So, as a dev with nothing much to show for, whats the best way to get an edge on the market? Easy. Dump your coins below ICO price ASAP. Why? Because investors know damn well that theyre not going to sell below ICO price. That would just be stupid. But the dev, who essentially got free coins, can gradually dump coins at any price ans still gain profit because of course, his coins were free. Another advantage of dropping the price below ICO is you lock out the current investors from selling. Devs know many ICO investors are not going to dump below ICO..so they will keep it around that range, while they slow-dump what they can and the ICO investors who refuse to dump are just watching these back and forth swings. Seriously, watch it. Any time some substantial buy support appears, someone immediately sells into it. No one holding over 1 BTC can safely exit and break even anymore.

Because of this, a dev can buy damn near half the supply, if not more, and he'd essentially be holding most of BAY, which is whats exactly going on here. Realistically, I'm sure the devs have made a legit 400 to 500 BTC from the ICO, but the rest was their own buys.

This is one plausible scenario, of course. But it can not be confirmed so no point worrying over it. Devs buying their ICO to increase interest is quite widespread, so I won't be surprised if that indeed happened.

Except in this case, the dev would have over 50% of the total coin supply which was gotten for free...which could be dumped at ANY price for profit.  

C'mon guys. Risk Management. Trading 101.

[TinEye]

Except in this case, the dev would have over 50% of the total coin supply which was gotten for free...which could be dumped at ANY price for profit.

C'mon guys. Risk Management. Trading 101.

Its a plausible scenario. Does not mean its the correct scenario.

The buyers have to hope that the devs are honest, and thats it basically at this point. They do not have much protection.

[toknormal]

I highly doubt you have anything invested in this coin and I would require a proof if you want to argue further. I would be forced to put you on ignore if that proof isn't provided in your next post.

Quite happy to provide it.

254321 Sellwall @ 800 Sats coming right up on BTER.

[J9901]

Except in this case, the dev would have over 50% of the total coin supply which was gotten for free...which could be dumped at ANY price for profit.

C'mon guys. Risk Management. Trading 101.

Its a plausible scenario. Does not mean its the correct scenario.

The buyers have to hope that the devs are honest, and thats it basically at this point. They do not have much protection.

I get what you mean, so let me explain further;

So some people here are seriously going to believe than a 3000 btc ICO will completely sell out during a time when the alt market volume is deteriorating? Where talking an ICO who got to accumulate nearly 500% Bittrex's daily 24hr volume? lol

First people think they were the Chinese buying. Ok so if the Chinese bought, how did they react? I doubt many Chinese bought this. Like me they saw all the red flags. The amount of positive reviews with absolutely nothing to back them except 'TO DA MOON' on bter during the ICO was also laughable. The same 2-3 people posting the reviews to try and get more buys as the devs keep buying their own coins sporadically throughout the day to create fake demand.

At least you have an open-mind and are considering the possibility compared to  the rest of the people here.

[CryptoClub]

https://plus.google.com/+DavidKokua/posts/RcA4CZMjMLM

If you want to know a bit more about the lead dev, here is some detailed information. This is primarily why I am a buyer here. The unknowns are the people he is working with, but assuming they are for real, Bitbay might be a massive success. I am thinking about buying more actually.

[RJF]

200+ sat is expensive for 1 billion coins

Are you aware Bitshares is traded around 4k sat and it has 2 billion coins?

NXT is traded around 4-5k and it has almost 1 bilion coins

So, 200 sat is very cheap compare to what this coin will offer to the world. If you're smart you'll buy it, store in your wallet and forget about it. Come back after 1+ year and boom! one coin is now $.50-$1 and you're rich.

Agreed.  Maybe you could argue its "expensive" right now because the technology isnt out yet, but once the team starts rolling out the new features and tech, 200 sat will be a bargain.

I know every trader has done this at least once.  You look the the long term chart for a coin and you say "Man, I CAN'T believe it was trading at 200 satoshi! Why didn't I buy then???  Its at 5k now!"  That will be this coin.

Bitcoin comes to mind...

[whetherman]

to the people engaging with JLo999 -

you are doing exactly what he wants, which is provide someone for him to argue with, this gives him a chance to repeat his fud over and over again. check this guy's post history - you will see him doing the same thing in many threads.

and JLo if you have any proof to back up your claims (devs buying their own coin, etc.) can you please include this proof in your next post. otherwise it is fud. and clearly so, since you have now been challenged to provide proof of your claims.

if you do not come with specific proof, it would seem are clearly trying fud this coin - as you have done in each of the coins in your post history. so seems to me the mods should politely encourage you to take your fudding over to the area 52 bitbay thread, where you will find familiar surroundings.

[RJF]

As an investor i request his fud be removed.

Why would some post something like that if they had no interest in the coin to begin with, allegedly?No life maybe? Or maybe both his wrists are sore from being lonely?

Looking at his other posts on other threads you can see hes a serial fudder, and probably has thousands of dollars invested in this coin, and probably thousands more once he can fud-drop Bay's value.

+1  I agree, please delete it. This is a commercial venture, we don't need that kind of crap here. He can go to the other thread and get his ego stroked by posting there...

[Mig-23]

@J9901
in what coin you stand ?..
lets play fair
no need to dropping each other

[J9901]

to the people engaging with JLo999 -

you are doing exactly what he wants, which is provide someone for him to argue with, this gives him a chance to repeat his fud over and over again. check this guy's post history - you will see him doing the same thing in many threads.

and JLo if you have any proof to back up your claims (devs buying their own coin, etc.) can you please include this proof in your next post. otherwise it is fud. and clearly so, since you have now been challenged to provide proof of your claims.

if you do not come with specific proof, it would seem are clearly trying fud this coin - as you have done in each of the coins in your post history. so seems to me the mods should politely encourage you to take your fudding over to the area 52 bitbay thread, where you will find familiar surroundings.

JLo999?

Really?

lol

fwiw I didn't intend on hanging around here as most of you seem to think otherwise...and I still dont. I've said what I have to say and will leave it at that. You can choose to keep smoking the hopium, or finally decide to start thinking outside the box. Last piece of advice though...@EMC2Whale aka Bobsurplus is involved. Take that for what it is.

Good luck with BitBay, you guys will surely need it.

[unusualfacts30]

I highly doubt you have anything invested in this coin and I would require a proof if you want to argue further. I would be forced to put you on ignore if that proof isn't provided in your next post.

Quite happy to provide it.

254321 Sellwall @ 800 Sats coming right up on BTER.

sureeee  . Aren't you the guy who said Bitbay is overpriced?  

200+ sat is expensive for 1 billion coins

+1