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

[kaene]

is there any plan to add more exchange?
dev,..

Any chance this will go to Bittrex or cryptsy? If so I may buy some.

I guess they both will add it, after the ICO.

Normally exchange don't add new coins during ICO, so it's up to you to decide to buy now at fixed price or after ICO at who knows what price.

Out of curiosity, any problem with bter?

[whetherman]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

[chicken65]

Anyone know what the actual time scale for the implementation of the wallets marketplace.
Are we looking at 6 months, a year? This is the biggie for me as well as the Chinese involvement.

I think before the end of the year, if I understand correctly

Really?
Before the end of the year would be rather brilliant. I was willing to settle for
Summer 2015 but the sooner the better.

[threecats]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

[chicken65]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

Im not the most Techie guy but from what I can tell about this coin it really does have an immense amount of promise in the areas you mention. The question I want to really ask though is all this stuff possible. Can the Devs really implement all of it. These type of questions answered would help me, and probably others decide if they want to increase their investment. Right now I see a damn good prospect, but Im playing it safe, perhaps to safe.
Anyway would like to see your Q answered.

[whetherman]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

Im not the most Techie guy but from what I can tell about this coin it really does have an immense amount of promise in the areas you mention. The question I want to really ask though is all this stuff possible. Can the Devs really implement all of it. These type of questions answered would help me, and probably others decide if they want to increase their investment. Right now I see a damn good prospect, but Im playing it safe, perhaps to safe.
Anyway would like to see your Q answered.

There is no question that it is possible. What's more is that this is already established, existing  tech in the Black Halo system. The ability to do trustless contracts with agreed upon release terms is core functionality there.

My question is more about the GUI and some first (easy) implementations of the smart contracts. Seems like the dice sites are everywhere and for example Supernet is going to have private betting within the GUI.  So sports betting seems like a natural for BitBay, especially as it gives noobs a chance to play with simple smart contracts.

And if the dev team isn't doing it, some one should. Money to be made there.  

[silavon]

When does the ICO end?

- Total Coin Supply: 1 Billion
- Starting Satoshi Price:
252-264 satoshi -Day 1
264-276 satoshi -Day 2
276-288 satoshi -Day 3
288-300 satoshi -Day 4
300        satoshi -Day 5
Price will go up 1 satoshi every 2 hours on the hour.
- Ticker: BAY
- ICO Starting Date: 11th Nov GMT 13:00
- ICO Conclusion Date: 15th Nov GMT 13:00
- Total BTC limit cap for investors before expiration: 3000 BTC
If any coins remain unsold at the end of the investment period, they will be burned by Bter Exchange. Thank you!

[chicken65]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

Im not the most Techie guy but from what I can tell about this coin it really does have an immense amount of promise in the areas you mention. The question I want to really ask though is all this stuff possible. Can the Devs really implement all of it. These type of questions answered would help me, and probably others decide if they want to increase their investment. Right now I see a damn good prospect, but Im playing it safe, perhaps to safe.
Anyway would like to see your Q answered.

There is no question that it is possible. What's more is that this is already established, existing  tech in the Black Halo system. The ability to do trustless contracts with agreed upon release terms is core functionality there.

My question is more about the GUI and some first (easy) implementations of the smart contracts. Seems like the dice sites are everywhere and for example Supernet is going to have private betting within the GUI.  So sports betting seems like a natural for BitBay, especially as it gives noobs a chance to play with simple smart contracts.

And if the dev team isn't doing it, some one should. Money to be made there.  

Understood.
Not a betting man myself but I like the idea of the sports betting.
Would this be available form within the wallet?

[dzimbeck]

David,

Can you take a long at this whitepaper and see if there are any things that you can take away from it to make Bitbay better?

http://www.coindesk.com/japanese-scholars-draft-proposal-better-bitcoin/

You don't have to reply right away, I want you to go through it in detail first.

You can also take notes or contact the scholars to encourage discussion of ideas.

To me, it sounds like Nubits...


But I hope you take my request seriously, I really want a successful peg and a successful marketing of Bitbay into the mainstream.

Thank you

Thanks Jessica, I'm going to archive this and read it in my spare time.

[dzimbeck]

Anyone know what the actual time scale for the implementation of the wallets marketplace.
Are we looking at 6 months, a year? This is the biggie for me as well as the Chinese involvement.

I think before the end of the year, if I understand correctly

Really?
Before the end of the year would be rather brilliant. I was willing to settle for
Summer 2015 but the sooner the better.

Summer??! Goodness no. It will be anywhere from december to late january.

[dzimbeck]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

Yeah you can make your own channels. Its more of a question of how much customization I allow for the channels like custom templates and stuff. It probably will take some time to get it to that level. I want to see NightTrader and BitBay markets popular and being used first.

[whetherman]

I am very interested in the smart contracts & the Black Halo tech upcoming in the next wallet. Anyone - either in the dev team or in the community - see the possibilities in private betting from the wallet? NFL playoffs in December, be a great opportunity for people to be get their feet wet in some simple smart contracts : -)

This brings up an interesting question. Will BitBay have a possibility for people to build plugin channels for the wallet & marketplace? For example, a sports betting function accessible directly from the wallet? Or will this venue be the marketplace itself? And will the marketplace have any kind of interactive forum?

Yeah you can make your own channels. Its more of a question of how much customization I allow for the channels like custom templates and stuff. It probably will take some time to get it to that level. I want to see NightTrader and BitBay markets popular and being used first.

Would be pretty awesome with some templates.

[chicken65]

Anyone know what the actual time scale for the implementation of the wallets marketplace.
Are we looking at 6 months, a year? This is the biggie for me as well as the Chinese involvement.

I think before the end of the year, if I understand correctly

Really?
Before the end of the year would be rather brilliant. I was willing to settle for
Summer 2015 but the sooner the better.

Summer??! Goodness no. It will be anywhere from december to late january.

Well thats just simply fantastic.
THis really opens up possibilities on a massive scale.

[xizmax]

So could you answer please one of the most important questions for the IoT feature: how the software works terms of real time hardware control. So far none of the IoT coins (BitBay, TileCoin, GadgetCoin) answered  this question and I hope you have the answer.

Let see a very simple and basic IoT sample, you have a light switch controlled by an Internet of Things Zigbee switch sensor, how do you turn on/off the light, do you wait 60 seconds until the transaction is included in the blockchain or do you have a workaround to complete the smart contract quicker to execute the hardware control?

I am very interested in your coin :-)) it is a great project and I am sure you have managed to make it work and it would be great to know how the solution works before making a decision about investing in the coin.

Well there are a few techniques to this. With checklocktimeverify, there is a whole bunch of new types of spending we can do. For example, we can spend so coins convert to a different address later, we can lock coins for months at a time. A 2 of 2 multisig account can convert to a 3 of 3 or (really anything)... its all about how you want to program the device.

With that said, most devices will need their own key and will sign on its own behalf. This would be used for more than just spending money. Since you get a secure connection to the device, it can hold coins, it can perform contracts with you etc. Thus, using double deposit we can create a set of rules and protocols interacting with the device. One example is a hardware staking wallet with multisig. At Blackcoin they are working on this. Their lead dev rat4 already coded in multisignature staking. It was lovely. So that just needs to be applied in the context of a device. This is just ONE example. Losing your hardware need NOT lose your coins even in a 2 of 2 multisig since we can lock the coins to convert back to the users key at a later date.

I think you are referring to Peter Todd's CHECKLOCKTIMEVERIFY implementation. Peter is contracted right now to ViaCoin, in this case they are working on the same stuff as you do. I thought the main issue with the CHECKLOCKTIMEVERIFY for IoT application is the timing, but I could be wrong. I understand with CHECKLOCKTIMEVERIFY no need to wait for the 10 minutes confirmation time before agreeing on an escrow for example, but I would think for IoT is still not feasible as it will still take 20 seconds or so to complete a contract.

Thanks for your reply, it's great!

This all depends on what you are negotiating. And it may actually require waiting for confirmations. In BlackHalo, i make the client go to escrow after only a few confirmations. Its a series of 3 or 4 transactions and its outline how its done in my whitepaper that comes with the program or found at Bithalo.org

I am still with altcoinUK on this one. I do not want to wait 50ms for my doors to unlock (to quote IBM example on IoT), much less 10 seconds. As I gather, 10 Seconds is blazing fast when it comes to crypto. Also, why would I want a trustless system with my house. What purpose would it have? I only need for my house lock to trust me and vice versa, why would I need a blockchain for that?

IMO this whole concept needs some thinking, not just get-on-blockchain-fadtrain. I can envisage some uses for blockchain based IoT, but having crooks datamining the blockchain to plot a pattern when I am at home and not isn't something I'd really like.

[threecats]

Don't know if this has been addressed, but there was the idea that escrows that are forfitted due to non performance - instead of being burned - could be funneled to stakers, has this idea come any further in consideration?

Seems to me that would be one of several very attractive ways to reward investors / stakers who are in it from the beginning as BitBay begins to take off & gain millions of users.

[BitcoinBaBa]

Okay so we know that David Zimbeck has been contracted as the lead Dev but what about other members of the team?

You should give us identities of those responsible for the project.More transparency is warranted when doing a 3000 btc ICO.

Whats stopping you from just running away with the funds? We won't even know who to point fingers at if it happens! What's the incentive for further developing the project once you get the btc?

I am really interested in the project but you have to understand my skepticism.There are rampant scams all around us and one should rather be overly cautious than greedy.Hope you will do well to prove the legitimacy of the project and deliver us with the goods.



 

                     

[illodin]

Okay so we know that David Zimbeck has been contracted as the lead Dev but what about other members of the team?

Does David Z know the identities of the people who are going to be getting the ICO monies?

[chicken65]

Okay so we know that David Zimbeck has been contracted as the lead Dev but what about other members of the team?

                     

David Zimbeck has an excellent reputation which was enough for me.
As for other team members I don't know but David is the head guy
and I seriously doubt he would get involved in anything that wasn't
genuine.

[emilraileanu82]

algo?

[altcoinUK]

So could you answer please one of the most important questions for the IoT feature: how the software works terms of real time hardware control. So far none of the IoT coins (BitBay, TileCoin, GadgetCoin) answered  this question and I hope you have the answer.

Let see a very simple and basic IoT sample, you have a light switch controlled by an Internet of Things Zigbee switch sensor, how do you turn on/off the light, do you wait 60 seconds until the transaction is included in the blockchain or do you have a workaround to complete the smart contract quicker to execute the hardware control?

I am very interested in your coin :-)) it is a great project and I am sure you have managed to make it work and it would be great to know how the solution works before making a decision about investing in the coin.

Well there are a few techniques to this. With checklocktimeverify, there is a whole bunch of new types of spending we can do. For example, we can spend so coins convert to a different address later, we can lock coins for months at a time. A 2 of 2 multisig account can convert to a 3 of 3 or (really anything)... its all about how you want to program the device.

With that said, most devices will need their own key and will sign on its own behalf. This would be used for more than just spending money. Since you get a secure connection to the device, it can hold coins, it can perform contracts with you etc. Thus, using double deposit we can create a set of rules and protocols interacting with the device. One example is a hardware staking wallet with multisig. At Blackcoin they are working on this. Their lead dev rat4 already coded in multisignature staking. It was lovely. So that just needs to be applied in the context of a device. This is just ONE example. Losing your hardware need NOT lose your coins even in a 2 of 2 multisig since we can lock the coins to convert back to the users key at a later date.

I think you are referring to Peter Todd's CHECKLOCKTIMEVERIFY implementation. Peter is contracted right now to ViaCoin, in this case they are working on the same stuff as you do. I thought the main issue with the CHECKLOCKTIMEVERIFY for IoT application is the timing, but I could be wrong. I understand with CHECKLOCKTIMEVERIFY no need to wait for the 10 minutes confirmation time before agreeing on an escrow for example, but I would think for IoT is still not feasible as it will still take 20 seconds or so to complete a contract.

Thanks for your reply, it's great!

This all depends on what you are negotiating. And it may actually require waiting for confirmations. In BlackHalo, i make the client go to escrow after only a few confirmations. Its a series of 3 or 4 transactions and its outline how its done in my whitepaper that comes with the program or found at Bithalo.org

I am still with altcoinUK on this one. I do not want to wait 50ms for my doors to unlock (to quote IBM example on IoT), much less 10 seconds. As I gather, 10 Seconds is blazing fast when it comes to crypto. Also, why would I want a trustless system with my house. What purpose would it have? I only need for my house lock to trust me and vice versa, why would I need a blockchain for that?

IMO this whole concept needs some thinking, not just get-on-blockchain-fadtrain. I can envisage some uses for blockchain based IoT, but having crooks datamining the blockchain to plot a pattern when I am at home and not isn't something I'd really like.

Finally, thanks God :-))) someone who knows what IoT is and what he is talking about :-)))

You are absolutely right, and it seems to me the BitBay DEV simply don't understand the significance of transaction time in real time hardware control, that's why he skipped my question completely - just like the TileCoin DEV. I don't blame them - it is a complex area, but I believe their solution has nothing to do with IoT - as we can see that from their answers.

I think the closest to a working solution is GadgetCoin. At least it seems they understand the concept of Internet of Things, how hardware works, the challenges and their white paper describes a clear solution for 1 second transaction time. Also, as for the family home in the peer to peer shared network, GadgetCoin's white paper says families and businesses can implement the software as a private network, in this case the hardware control is not accessible to the public network.

I think BitBay is a wonderful idea, the smart contract will definitely work for decentralized market, but as you said very correctly the IoT aspect requires lot more work - their IoT solution doesn't even exists in conceptual level.