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

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[BitBay Team]

Ok, what's the point of this "new" tech?

Hi Qawzsx

Happy to answer, which aspect of the BitBay system are you thinking about?

BitBay Team

Well, bithalo/blackhalo can do all this without asking for 3000 BTC

Hi Qawzsx

BitBay has licensed the Black Halo tech, and David is our lead dev. However the scope of the BitBay project is quite a bit larger than the tech implementation. It is a worldwide online decentralized marketplace with many added features. All the details in the OP.

thanks.

BitBay Team

[qawzsx]

Ok, what's the point of this "new" tech?

Hi Qawzsx

Happy to answer, which aspect of the BitBay system are you thinking about?

BitBay Team

Well, bithalo/blackhalo can do all this without asking for 3000 BTC

Hi Qawzsx

BitBay has licensed the Black Halo tech, and David is our lead dev. However the scope of the BitBay project is quite a bit larger than the tech implementation. It is a worldwide online decentralized marketplace with many added features. All the details in the OP.

thanks.

BitBay Team

Licensed, decentralization...yeah...

[Mig-23]

do you have marketing budget and team in your development plan?
please don't ignore about marketing,..this is most important
if no,..so it will be the same like other

[BitBay Team]

do you have marketing budget and team in your development plan?
please don't ignore about marketing,..this is most important
if no,..so it will be the same like other

Hi Mig

You are absolutely correct. And marketing is a sizable portion of our budget. That much said, BitBay has very specific cultural and global challenges it faces, and the 'marketing' of BitBay in this opening phase is as much about building bridges and making connections as anything else - especially in Asia. This has been a big part of our focus the last month. If you check back on the website later this week there will be more information about the people who have been taking the lead for us in these areas.

Thanks

BitBay Team

[altcoinUK]

Altcoin UK

You seem to be implying a single server and a Skype chatroom will get us where we want to go.

No I haven't. You listed the "forum" as an expense yourself, - which is quite amazing and says a lot about your ambitious plan that you quote such expense in the context of a 3000 BTC operation, but in the mean time you refuse to provide a detailed expenditure plan -, and then I pointed out the cost of that forum infrastructure.

... However, where we want to go is the level of Ebay and beyond. This is our business structure and plan, as we have made quite clear. This is the root of the misunderstanding about 3000 btc.

Well, I can see a flaw in that business plan ... if you are unable to provide a satisfactory answer about your identity, you refuse to tell who you are, i.e. you fail to handle a very trivial aspect of fund raising, additionally, if you are unable to outline here a very simple business plan of how the 3000 BTC will be spent, why do you need that money, then you obviously don't know how to build a business. As it appears, you might very good at collecting money from investors, but you certainly don't know how to manage a business, and therefore you have no chance to take on Ebay ... it just can't happen with this mentality and approach ... consequently that means, the investors will be left behind with financial losses ... except the few who close to you and will dump the thing in the right time.

[altcoinUK]

Licensed, decentralization...yeah...

Doesn't it make sense?

Open source, so it need license.

David says that the software is ready, but they need money, 3000 BTC to finance a large software development, as the Bit Bay team said above.

This is a peer to peer technology (which by definition requires zero investment from the project team as you run the software) but they need money, 3000 BTC to build a large IT infrastructure.

Everything makes perfect sense, doesn't it.

[reRaise]

Simply put, the world of commerce is about to change.

Unfortunately i don't believe this.

If your aim is that high, you should atleast attend conventions, meetups, promote it through major news outlets, give presentation etc. like every other top coin.

[Baghead]

Message to anyone who has doubts (me including) you can live life risk free work hard and never step into new opportunitys or never take risks, this is ok and this route you will know where you stand. I take my hat of to you guys i really do, but for us entrepreneurs/crypto believers/ poker players or small to big scale betting guys, we take risks aha do they always work? No they do not but we take the risk because of personal reasons my reason is R - R risk reward. Naive is abit harsh dude and you really should not throw names about like you have been but hurt by us investors. I stake $200 mr naive may or may not make a buck lol..
One last message to the broken record do not invest you seem emotional

[jibble]

Licensed, decentralization...yeah...

Doesn't it make sense?

Open source, so it need license.

David says that the software is ready, but they need money, 3000 BTC to finance a large software development, as the Bit Bay team said above.

This is a peer to peer technology (which by definition requires zero investment from the project team as you run the software) but they need money, 3000 BTC to build a large IT infrastructure.

Everything makes perfect sense, doesn't it.

If everything was ready then they wouldn't be working on the marketplace for the next few months


You are really telling me you don't understand and can't comprehend the fact that stuff costs money and that continued development for years to come isn't needed?

The peer to peer technology costs money to make!! just because i run peer to peer tech and act as a peer doesn't mean that it magically appeared out of nowhere and cost nothing to create and develop the software .

What fucking world are you living in?  

[Mig-23]

Licensed, decentralization...yeah...

Doesn't it make sense?

Open source, so it need license.

David says that the software is ready, but they need money, 3000 BTC to finance a large software development, as the Bit Bay team said above.

This is a peer to peer technology (which by definition requires zero investment from the project team as you run the software) but they need money, 3000 BTC to build a large IT infrastructure.

Everything makes perfect sense, doesn't it.

If everything was ready then they wouldn't be working on the marketplace for the next few months


You are really telling me you don't understand and can't comprehend the fact that stuff costs money and that continued development for years to come isn't needed?

The peer to peer technology costs money to make!! just because i run peer to peer tech and act as a peer doesn't mean that it magically appeared out of nowhere and cost nothing to create and develop the software .

What fucking world are you living in?  

haha,...in my country,urinating also have to pay...its true

[cryptohunter]

To summarize, the information we know and what David and the Bit Bay Team revealed here

a) We know David is a very talented, intelligent and knowledgeable young man, he is capable to write software

b) We know (because David said), he is financially broken, he is in Cambodia for rebuilding his life and has been contracted by the Bit Bay team. He is writing the software for BitBay (as he said). He is not the master mind behind this coin, he has no control over the 3000 BTC, he is not the recipient of the US$ 1.2 million ICO but the Bit Bay team.

c) The Bit Bay team, as they said, long term nicks on this forum, however they felt the need for registering a new nick for collecting the US$ 1.2 million. For some reason, a 3000 BTC ICO can't be associated with their existing community and market identity.

d) The Bit Bay team refuse to disclose how the 3000 BTC will be distributed

e) The Bit Bay team refuse to comply with requests to reveal their true identities and prove that they haven't been associated with existing scams and broken promises.

If I am correct, that's where we are ... and I am sorry for spoiling the 1.2 million US$ money collecting party ... but, because of the scams our market has lost all its credibility and most importantly the trusts of new investors, there is no new money is coming to this altcoin market, I believe it is everyone's interest to have an accurate information about who are the money collectors here.

Ok Altcoin, we have tried to answer your concerns. This post begins to move over into the realm of fud.

We will make one more attempt to answer you:

- David is an extremely capable programmer and does not need you commenting on his life situation.

- The BitBay ICO funds are being spent to hire teams of programmers and develop technology. Considerable investments are also being made in vendor networks, user interface IT, & marketing structures. Both David and the other mods have repeatedly discussed aspects of this. As for you wanting to know exactly where each dollar goes, that is not your prerogative.

- We have repeatedly replied to your questions about our team, the structure of our staffing, NDA's etc.  and encouraged you to check the website later this week for more bio information.

Please refrain from further posts of this type. If you have decided not to invest in BitBay, that's ok. But further attempts to fud this thread are not ok.

I have invested a small amount.

HOWEVER

In light of all the scams on here i really don't think ico's without full disclosure of whom is behind them is appropriate. I am actually shocked that David is putting his name to this without insisting on full disclosure. If this does go bad, his reputation is pretty much done. People are mostly investing based upon his involvement and his code.

He says he knows the people behind this and that they would not ruin their reputation over 3000btc. So they must be some large crypto or large players in some industry. Let's wait and see.

I would actually prefer BTER actually held the entire 3000btc and released it slowly to them as they require it and even then there should be a full ledger. So funds are gradually released as results are shown. Sure you could give a good will 300-500 btc out to get them started and get some staff.

[Adderral]

Very legitimate questions indeed. I think these type of questions serve transparency. The Bit Bay team thinks such question is FUD.

And I think you are a troll. If you don't like this coin or it's team and plans then simply move along. Nothing is compelling you to buy into it?

[cryptohunter]

Very legitimate questions indeed. I think these type of questions serve transparency. The Bit Bay team thinks such question is FUD.

And I think you are a troll. If you don't like this coin or it's team and plans then simply move along. Nothing is compelling you to buy into it?

Nobody cares what you think though. You joined yesterday a could well be part of the team for all we know. Surely you can see that noob accounts that just pop up have zero credibility and have earned no trust. Every new scam has a host of noob accounts giving support.

His questions seem reasonable to me.

[jibble]

Very legitimate questions indeed. I think these type of questions serve transparency. The Bit Bay team thinks such question is FUD.

And I think you are a troll. If you don't like this coin or it's team and plans then simply move along. Nothing is compelling you to buy into it?

Nobody cares what you think though. You joined yesterday a could well be part of the team for all we know. Surely you can see that noob accounts that just pop up have zero credibility and have earned no trust. Every new scam has a host of noob accounts giving support.

His questions seem reasonable to me.

His questions are completely reasonable, But his reactions to not getting what he wants , like a 5 year old child having a tantrum is not exactly reasonable .

Plus the random assumptions that are completely incorrect, like peer to peer tech is costless and magically appears from nowhere and that further development isn't needed (even thou its been stated it is) With a dash of "why so much money why so much money why so much money when 2 days ago all he cared about was the internet of things

[cryptohunter]

Very legitimate questions indeed. I think these type of questions serve transparency. The Bit Bay team thinks such question is FUD.

And I think you are a troll. If you don't like this coin or it's team and plans then simply move along. Nothing is compelling you to buy into it?

+100

-200

that's the attitude that leads to all of the scams on here.

I doubt this project is a scam but really this kind of "we can't answer any questions just give us money or don't" attitude enables scams.

Should be 100 % standard now that exchanges or trusted escrow groups hold the bulk of the ico ito funds until results are flowing and then only released in sensible chunks to further funding of the project.

Same for premines.

[dzimbeck]

Ok, what's the point of this "new" tech?

Hi Qawzsx

Happy to answer, which aspect of the BitBay system are you thinking about?

BitBay Team

Well, bithalo/blackhalo can do all this without asking for 3000 BTC

Lets discuss this point because it is actually true. Although I can code everything myself, there is something nice about having people like Bay actually help me move away from coding and into project management. Because otherwise, I'm carrying the world on my shoulders. With a dev team in Asia, I can ask Bay to hire project managers, coders, marketers, form bonds outsider of crypto(money helps, we can hit up conferences, send delegates to large businesses, form partnerships etc etc)

Also, if I can learn to work with a team, I could run many more projects. This is about more than Bay. This is about changing the entire planet. This is the future of finance and it doesnt just end with pegging or hedging or whatever. We discussed a long term partnership in crypto projects and a long term set of goals with Bay. There is so many damn things I could do if funded that are related to expanding the reach of crypto. Imagine how much more I could reach people with a marketing budget, with a team, like an actual business.

If you know anything about marketing, you will know that a million bucks is not even close to enough if you are trying to reach a larger audience. So mostly, there is tons of ways to use funds. The guys involved have a vested interest since they bought some Bay just like you guys.

Halo has about 10 different revenue models that can be practically applied. I have a 40 page business prospectus outlining them all. There is no limit to how useful this tech is.

So yeah, in the end it would be nice to have control of the funds, but just have some faith and keep in mind that the 4 others working with me stand to benefit immensely by just allowing some of these ideas to be unleashed.

Also there is more than having working software. There is constantly improving the UI, user experience. Making something "mom friendly" can take years and tons of money and a team.

Thats just my opinion on all of this.

For me, its about changing the world. If the guys at BitBay want to change the world they will work closely with me and forge a business relationship.

[whetherman]

ALTCOIN UK

I think we all get your message, you think it's a scam blah blah blah.

You keep repeating the same things again and again. The dev tries to answer you again and again and again and you are just rude back to him.

LET ME TRY AGAIN SINCE YOU SKULL APPEARS TO BE MADE OF CONCRETE  (rude, but u are seting the tone here)

 1) They have told you where the money is going. If you don't like it, or think there business plan is "stupid" go somewhere else ffs. Buy some other coin.

2) They have investors and backers that do not want to be named. WHY IS THIS SO SURPRISING TO YOU??  Silk Road just got busted last week ffs.
Sure BitBay is going to be a mainstream marketplace but it is completely understandable that large investors - ESPECIALLY FROM  THE NON CRYPTO WORLD - want to have privacy in this respect.

THIS DOES NOT AUTOMATICALLY = A SECOND SHOOTER IN DALLAS OR A FAKE MOON LANDING

3) you are CLEARLY not asking questions as part of a decision to buy or not. you are poking around trying to find some weakness to fud with.

And don't put on your little spiderman superhero suit and say u are trying to protect the little guy or whoever. the truth is more boring than that, u have some axe to grind and u think u found a stone. there is a hundred guys here like u unfortunately.

[cryptohunter]

The important part here david is this

"The guys involved have a vested interest since they bought some Bay just like you guys."

I really hope

1. You know these guys personally, have met them and are sure they are large players in some industry to an extent that an easy 1.2m is not enough incentive for them to exit and ruin their reputation and your own.

2. They have bought a TON of Bay themselves.

3. They see that BAY being worth x lot more than the price they paid if they use the 3000btc wisely and let you and their team push the project through to completion.

4. 3000 BTC will be enough.



what do you say about bter holding 2000BTC of it until we see some real results and a ledger for the expenses??

Surely 1000BTC is enough to get the ball rollling.

[whetherman]

"We" ??

This is the part of  this discussion I just don't get. Maybe I am just a free market guy but since when do you walk up to a private venture and take over their cash flow until you see 'some results'?

If that was part of the OP, or part of their left-leaning business model, great.  But it's not. This sort of, we are the world, let's all vote on what we should do next week is the exact opposite of their stated  business model and value proposition, which says invest if you believe in what we are setting out to achieve, and we will deliver.

If you don't like the value proposition or the risk reward, fine, don't invest. To be honest, if this sort of 'community control' were in place, i would never touch this coin.

The important part here david is this

"The guys involved have a vested interest since they bought some Bay just like you guys."

I really hope

1. You know these guys personally, have met them and are sure they are large players in some industry to an extent that an easy 1.2m is not enough incentive for them to exit and ruin their reputation and your own.

2. They have bought a TON of Bay themselves.

3. They see that BAY being worth x lot more than the price they paid if they use the 3000btc wisely and let you and their team push the project through to completion.

4. 3000 BTC will be enough.



what do you say about bter holding 2000BTC of it until we see some real results and a ledger for the expenses??

Surely 1000BTC is enough to get the ball rollling.