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

[jdebunt]

Small new article, please spread the word

[Gizfreak]

Small new article, please spread the word

Thanks and I used all of my social media contacts to spread the word as it is a very promising one.

[CryptoBull]

Hi all,
just bought up some more bay  i cant help it really , tomorrow price will start to climb up 

[hossy]

Bought more as well cant beleive people are actually selling this smart contracts are the way forward and with a decentralize market this is a win win situation cant wait for tommorow

[jcooper]

That means that for this type of work, smart contracts are a godsend.

Check this website:
http://clientsfromhell.net/  

Every single one of these horror stories can be avoided by smart contracts. That's because smart contracts give both parties the incentive to uphold their part of the bargain to the best of their abilities. It's not about a 'he said she said' issue with a broken guitar or a box filled with phonebooks.

It's about "Hey I like the site so far but our contract also says that the member profile section has to be finalised. If you finish it this week we can both release each other's eskrow, if you think you're not getting it done we can just pay for the finished part for 80% and make a new contract for the member profile section part."  

These deals need a lot of communication and this can only truly be done when both parties have leverage on each other.

Does the wallet allow a contract to be closed out at an agreed upon lower price? The point you raise here makes it clear that that's an important option for when a contract or an order can only be partially fulfilled.

When both parties agree on the situation, as in your example, and both negotiate in good faith, it should work fine. I guess escrow also pressures both parties to meet in the middle when they disagree, even if one party is objectively wrong but (because of ignorance or stupidity, as in many of the examples on that site) will never be convinced that they're wrong. That's often what would happen in real life anyway I assume.

[Decentradical]

Does the wallet allow a contract to be closed out at an agreed upon lower price? The point you raise here makes it clear that that's an important option for when a contract or an order can only be partially fulfilled.

When both parties agree on the situation, as in your example, and both negotiate in good faith, it should work fine. I guess escrow also pressures both parties to meet in the middle when they disagree, even if one party is objectively wrong but (because of ignorance or stupidity, as in many of the examples on that site) will never be convinced that they're wrong. That's often what would happen in real life anyway I assume.

Not directly. But, as you both are holding each other's collateral, you can agree on a new smart contract before you release the escrow of the old one. That makes the smart contracts malleable and allows both parties to upgrade or downgrade the contract.

Releasing the escrow gradually should be an extra feature. It's not extremely necessary but it would greatly boost the ease and pleasure of using the wallet. I have no idea what their roadmap looks like but that seems to be just a matter of time.

As for subjective disputes. Sure it will always be tricky. But that leverage will be there, both parties will lose out if one isn't happy. This is also true in current real life escrow services. The big difference though is that in real life it's a professional person able to mediate the deal. Online the wallet is just a blind broker that only ever cares about whether both people enter their personal key or not. 

That said, real life escrow services are outrageously expensive. These people take huge fees out of the original escrow, at least this one is free.

[FollowMe]

When is the next feature released ? Tomorrow ?

When is the next upcoming event ?

New wallet tomorrow, with smart contracts. 

[waxo]

Hi all,
just bought up some more bay  i cant help it really , tomorrow price will start to climb up 

*
and if this delayed ? price will drop

[hossy]

And it won't so price will rise first wallet with smart contracts get in before its too late

[CryptoBull]

after 1 year this coin will worth like blackcoin and dark   cant wait to make the first payment for my new place with the profit    

what is the next step in bitbay roadmap? smart contracts-winner first release tomorrow
when the team announces the Baymarket im going to Hawaii

[Piston Honda]

...

So as far as them putting my name to this. If you read the OP on BCT, they put me as lead dev before I had a chance to announce the news to BC. I was upset since the gossip spread so fast I didnt even have time to talk on my own behalf and so I had them change the post to say i was ONLY a project manager.

It was never my intention to be a lead dev of a coin that I myself didnt write from scratch. If you followed BC, you would know that and you would know that this action went way beyond what anyone expected from me.

After they had my name on it, and people kept asking questions on BCT and they only wanna talk to me, i felt like i didnt really have a choice.

So the only choice i had was to pass up the offer in the first place(and i didnt have a time machine). And I would had to consider that they would put my name all over it and that i would be forced to take on a larger role for them. At the time, I really had not considered it. To me, I was just cloning Halo for them and doing markets which i had planned all year anyways. At the time of negotiation my rationale was to "get paid doing what i was planning on doing anyways".

So, i accepted and now there has been some drama which i never ducked.

Instead of worrying about the past my only intention is to focus on the future. SO I'm just going to continue coding and try my best. Which is all anyone should expect. Im not going to spend my time worrying if they bought on the back end. If there is selling below ico, you may be right although i have no idea how you would expect me to provide evidence of that no matter how rational your argument. So now im going to simply have to walk forward and put one foot in front of the other.

Err.. have to admit it doesn't sound too promising. I divested a couple of days back as it was too much of risk for me. Hope it becomes a success as crypto could really do good with such projects.Best of luck guys.

You forgot to read everything that David said. Obviously, Bitbay is for consumers and DD will have to be set up the way consumers want it. David has right to speak his mind and sometimes it can be different from what's good for Bay as a project. No big deal. David is a great dev as always and he has right to speak his mind. Bay is still as powerful as it ever was.

Personally, I think it doesn't make sense to put an ICO that'll release 33% of total ICO money everytime you get to a milestone. If Bitbay wanted to make money they would make it differently so they can get all the fund out in one shot without achieving milestone (easiest and most profitable way to run away with money) BUT they didn't. That means money from ICO isn't their motivation at all. Competing with Alibab is their goal.

You know the thing is, I believe in DD escrow. That was the reason I made it. I'm not the only one. Lots of people believe in it and there has been some contracts in Halo (we keep track of it). So although you are correct... ideally a society based on trust is a better one, we currently do not have a society based on trust. Simply turn on the news for a few minutes and listen to how corrupt and backwards society is.

I agree with you. There is definitely challenges in getting DD escrow to be used main stream. However, the same can be said for crypto.

Ive always been a fan of the old world and eye for an eye system. Regardless of its practicality because consumers want to feel comfortable

Instead of worrying about the past my only intention is to focus on the future. SO I'm just going to continue coding and try my best. Which is all anyone should expect. Im not going to spend my time worrying if they bought on the back end. If there is selling below ico, you may be right although i have no idea how you would expect me to provide evidence of that no matter how rational your argument. So now im going to simply have to walk forward and put one foot in front of the other.[/dzimbeck]

David role is a lead dev. People expecting him to answer questions regarding "alibaba" or "Ico money" is just plain retarded. How the hell would he know?

Main issue is that people think that Bay is just a smalltime crypto like any other altcoin and two or three people are working on it. That's far from the truth. I think there are people working in this project who have no clue about crypto or btctalk forum for that matter and lot of users on btctalk don't keep that in mind that world doesn't revolve around "btctalk" forum.  

My advice to David would be. Don't feed the troll. Focus on your coding and forget about everything else that's going on in BTCtalk forum. This place is full of drama and that's not just the case for "bitbay" it happens to every single crypto that comes out. Most of the trolls aren't looking for "answer". They're just looking to start drama and by feeding them you're falling into their trap.

People who are holding bags of any other altcoin are just pissed off and some of them spend all day calling out every single altcoin that looks promising. Instead of blaming themselves for their loss they blame whole crypto community like a coward who don't have balls to blame himself for his loss. It's pathetic.

*golfclap*

Couldn't agree more.  Love how this young coin and team behind it have SO much going for it and to look forward to!

Hoping tomorrow brings good things......but still, Dec. into the new year will be even better! 

[Cryptozillah]

I dont understand .. why are people selling it under the ICO price.
Did someone get these coins for free?

It is just weak hands and people that wanted a short term profit that is selling at a loss.
Just let the coins get in better hands, it is the best for all of us.

When this coin start climbing for real some of them will try to get in again at a higher price with less btc.

[Piston Honda]

I dont understand .. why are people selling it under the ICO price.
Did someone get these coins for free?

It is just weak hands and people that wanted a short term profit that is selling at a loss.
Just let the coins get in better hands, it is the best for all of us.

When this coin start climbing for real some of them will try to get in again at a higher price with less btc.

and bots?

[Gizfreak]

Exchanges are the battlefields for a game of humans vs. bots for sure.

[spookycoins]

Those damn bots

[Bobsurplus]

is the new wallet and smart contracts coming out tomorrow?? I just read that on twitter. Is it the case?

[MemoryShock]

is the new wallet and smart contracts coming out tomorrow?? I just read that on twitter. Is it the case?

That is what the BitBay team has stated.  So yes.

Edit for link - https://bitcointalk.org/index.php?topic=850267.msg9725737#msg9725737

The reference to Friday is at the bottom of the post.

[Bobsurplus]

is the new wallet and smart contracts coming out tomorrow?? I just read that on twitter. Is it the case?

That is what the BitBay team has stated.  So yes.

Edit for link - https://bitcointalk.org/index.php?topic=850267.msg9725737#msg9725737

The reference to Friday is at the bottom of the post.

That's some sweet news... Cant wait to get the download link.. Thank's for linking that post!

+1BTC

[waxo]

from the ANN :

"Available for use immediately upon ICO completion:

- Windows QT wallet (Certified)
- Mac QT wallet (Certified)
- Block Explorer
- Android / iPhone wallets will release within just a few days of testing on the blockchain after initial coin distribution."

where is android/ios wallet ?
it should be already here since ....

[Koontas]

from the ANN :

"Available for use immediately upon ICO completion:

- Windows QT wallet (Certified)
- Mac QT wallet (Certified)
- Block Explorer
- Android / iPhone wallets will release within just a few days of testing on the blockchain after initial coin distribution."

where is android/ios wallet ?
it should be already here since ....

Well, anyone who's published an ios app knows it can't just be released that easy, so....