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

[VampiricElder]

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

It's quite obvious a few of you are pushing this operation very-very hard, in the meantime your replies to me are purely trolling as you take out my answers from context, and I am sorry for spoiling your US$ 1.2 million money collecting party here, but I think it's worth to point out you this: we understand software development cost money, many of us here including me software professionals, but the Bit Bay team quoted here "IT infrastructure spending" as a major expenditure item of the 3000 BTC, and then I pointed out that the IT infrastructure in this project by definition a peer to peer network that runs on end users' environment, and therefore as such requires no investment from the team ... that's all ... if you would read then you would see what the Bit Bay wrote to me and what was my reply.

So I understand you have the agenda here, but the questions are remain: who is collecting the money and how the 3000 BTC will be spent?

I think you're confused bro, you kinda answered your own question but then diverted your answer into confusion.
Here is the wiki meaning of the word "infrastructure" for you:

infrastructure
ˈɪnfrəstrʌktʃə/
noun
noun: infrastructure; plural noun: infrastructures

    the basic physical and organizational structures and facilities (e.g. buildings, roads, power supplies) needed for the operation of a society or enterprise.
    "the social and economic infrastructure of a country"

[jibble]

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

It's quite obvious a few of you are pushing this operation very-very hard, in the meantime your replies to me are purely trolling as you take out my answers from context, and I am sorry for spoiling your US$ 1.2 million money collecting party here, but I think it's worth to point out you this: we understand software development cost money, many of us here including me software professionals, but the Bit Bay team quoted here "IT infrastructure spending" as a major expenditure item of the 3000 BTC, and then I pointed out that the IT infrastructure in this project by definition a peer to peer network that runs on end users' environment, and therefore as such requires no investment from the team ... that's all ... if you would read then you would see what the Bit Bay wrote to me and what was my reply.

So I understand you have the agenda here, but the questions are remain: who is collecting the money and how the 3000 BTC will be spent?

What agenda?

this is one of the only posts i have posted in this thread. You are paranoid , classic projection (taken things out of context is exactly what you have been posting ALLLLLLL FUCKING DAY)

Grow the fuck up you moron

[cinderpelt]

He finally said too much and they started deleting his posts.  He said that maybe they are the same people involved in destroying vericoin.  And now we all see the axe AltcoinUK had to grind.  Looks like he doesn't like the blackcoin dev who is onboard here.

[BitBay Team]

Altcoin UK your last posts containing accusations towards David and talk of the Blackhand  group have been deleted. Please keep your discussion centered on legitimate discussions concerning Bitbay.

[jibble]

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

It's quite obvious a few of you are pushing this operation very-very hard, in the meantime your replies to me are purely trolling as you take out my answers from context, and I am sorry for spoiling your US$ 1.2 million money collecting party here, but I think it's worth to point out you this: we understand software development cost money, many of us here including me software professionals, but the Bit Bay team quoted here "IT infrastructure spending" as a major expenditure item of the 3000 BTC, and then I pointed out that the IT infrastructure in this project by definition a peer to peer network that runs on end users' environment, and therefore as such requires no investment from the team ... that's all ... if you would read then you would see what the Bit Bay wrote to me and what was my reply.

So I understand you have the agenda here, but the questions are remain: who is collecting the money and how the 3000 BTC will be spent?

What agenda?

this is one of the only posts i have posted in this thread. You are paranoid , classic projection (taken things out of context is exactly what you have been posting ALLLLLLL FUCKING DAY)

Grow the fuck up you moron

Here we go ... paranoid ... moron ... FUD. The usual reaction when the legitimate questions spoil the money collecting party, thought the questions were very-very straight forward: who is collecting the money here and how the 3000 BTC will be spent? None of these questions (which are quite relevant to make an investment decision) have been answered yet.

And if you had read my post before saying "i agree you have perfectly valid questions" but acting irrational and childish because you don't get the answer you want isn't . then you might understand my "agenda" pointing that out

[Piston Honda]

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.

I find it admirable zimbeck is very upfront about this project, as someone mentioned below, his rep is on the line.  Given the size/scope of BAY I don't think he'd waste his time on a garbage coin or project, especially one that would tank.  I don't go throwing my btc at many alts but this is one I definitely want "in on" on the ground floor.  I like the idea of putting even more btc in come January when we see some awesome results.  

It seems many folks don't understand (or are just maybe not experienced enough) to understand that REAL WORLD WORK takes REAL WORLD MONEY (be it btc or fiat), regardless if you want results you have to 'pay to play'.  Again ppl can't forget the international backing here, both of investors and the folks actually working on the coin.  Looking forward to a sneak peak at that 40 page doc.  I'm still trying to delve more into the tech so I can better understand it for myself (which I think many others should do themselves).

[spookycoins]

20 BTC buy on BTER.
Yeah that just happened.

[VampiricElder]

20 BTC buy on BTER.
Yeah that just happened.

Huge amount of money has gone into this without advertising. Imagine what it will be like with proper marketing. I think we will all be happy if this reaches 20 cents

[BitBay Team]

I was kinda on your side AltcoinUK until you showed me you have an agenda and an axe to grind.  Now you just look like a sad little man full of shit trying to under-mind this project because you don't like Dave.

That I dislike David is absurd. I said here from the beginning that David is a very knowledgeable professional and he answered here with civility and he was really professional. He seems a great guy. I have nothing but respect for that young man who create a wonderful technology. As you know very well, the discussion is about who is running the show here? That's why the Blackhand group was mentioned, not because anyone is questioning David's integrity. We understand David is not collectiong the money here, he is a developer, and we would just  like to know who is then the collector of the 3000 BTC?

AltcoinUK, your concerns are understood. The funds that are being raised are for future development purposes and expanding our company resources (hiring more developers, attending conventions, making business relationships with vendors, and marketing). To ask for a more precise ledger of every business expense is simply not something we want/can do at this time. Our business will grow organically and we ask that if you do not wish to be a part of the project you simply resign to the sidelines or wait until January so you can see our project come into fruition. Hopefully once you see a working decentralized marketplace that we WILL bring to you your concerns will be alleviated.

[qawzsx]

meh, anyway, I'm in 5 BTC, curious to see where is heading on a med-term...

[choeymethod]

The way I see it, decentralized markets and the IoT are gonna be a gamechanger, whoever might get it going first is probably gonna be making huge profits. So I think it's a smart move to diversify your investments and hold some, of all of them including BitBay. Question is risk a little more now or panicbuy in January or whenever from whoever wins the race? Im more of an option A guy, but to each his own.

[Gizfreak]

I can imagine that there is a big demand for a decentralized marketplace as SR 1 and 2 showed, so I also invested my 2sat in this promising project.

[unusualfacts30]

Almost 2000 BTC sold and still hours before ICO ends. Wow! 

Very impressive.

[qawzsx]

Almost 2000 BTC sold and still hours before ICO ends. Wow! 

Very impressive.

Yeah, well...

GIVE ME THAT DECENTRALIZED EXCHANGE ALREADY!!!! 

[FollowMe]

meh, anyway, I'm in 5 BTC, curious to see where is heading on a med-term...

Your problem is: You havent invested moar than these 5 BTC to get moar BTC out of this cool coin. Good thing is, you have little time till ICO ends. I am in with a way bigger amount  

[spookycoins]

Any official numbers the BitBay team can share? 
I'm wondering how close to 3000 we are.

[qawzsx]

meh, anyway, I'm in 5 BTC, curious to see where is heading on a med-term...

You problem is: You havent invested moar than these 5 BTC to get moar BTC out of this cool coin. Good thing is, you have little time till ICO ends. I am in with a way bigger amount 

Neah, I'm not playing those games anymore, I made enough BTC, going bullish for the very long term.
I'm still playing small poker-like investments on various projects with good enough potential, going 10x or nothing on those

It's a lot more fun

[threecats]

meh, anyway, I'm in 5 BTC, curious to see where is heading on a med-term...

You problem is: You havent invested moar than these 5 BTC to get moar BTC out of this cool coin. Good thing is, you have little time till ICO ends. I am in with a way bigger amount 

Neah, I'm not playing those games anymore, I made enough BTC, going bullish for the very long term.
I'm still playing small poker-like investments on various projects with good enough potential, going 10x or nothing on those

It's a lot more fun

Nice one : -)   i prob have less BTC than you but i have the same basic attitude.

[digicidal]

Since I don't feel like working quite yet... thought I would add some perspective from my standpoint and why although I understand the demands for transparency - I also understand and accept that there will be none.

To me, as an investor I have everything I need to know to make a decent bet on this project:

1) Demand for concept. As should be clear from both the initial success of this ICO and the amount of money (both investment and sales-wise) into silkroad, Overstock.com, etc. the crypto-currency world is desperate for an actual broad based marketplace in which to transact real exchange of goods.  Couple that with the interest in smart-contract based systems and trustless-escrow processes and availability of anon/relative-anon transactions and you've got a 100K BTC+ idea.

2) Nature of coins themselves.  Although I understand skepticism, the reality is that even of the 'good' or 'honest' coins... the majority fail due to a lack of initial funding.  As a result of the armies of 'investors' whose only desire is manipulating fast gains in BTC/fiat, those that don't have a war-chest of funding that is not dependent on the current market price of the coin itself often die an early death.  If the project managers have only access to funds which are dependent on the current exchange rate of their coin/BTC pairing, and further on the fiat/BTC pairing for actual expenditures (hotel, travel, marketing, etc.) what started out as an adequate amount (premine, ICO, whatever) rapidly turns into barely enough to send 2 people to one conference and then having to spend their time begging for donations - donations that have to come from bagholders who, in most cases, are already in the red.

3) The risk in general. There is a general misconception surrounding an ICO of a coin (partially due to naming) that causes people to draw similarities with an IPO in the stock market.  In reality this is much more similar to your nephew wanting to start a comic book store and asking relatives for enough capital to buy a storefront, inventory, and hire 2 employees, etc.  In many cases you have to accept that the money may simply disappear, and invest accordingly... however, in exchange you can still see returns - even in disastrous cases.

Waiting is much safer, however - since the BC/'BlackHand' (and the first multipool should be included in that list as well actually) was brought up here is where I sit in that:  I mined intially from day one and held everything.  I bought another 15BTC - at the time all I had - when everyone else was dumping... I then sold off a small portion of my bag when the pump occurred (although not as much as I wish I had in hindsight... I'd have 500BTC and the same amount of BC I held at the time by now)!  My investment was sound, despite everything that went down because I invested very early.  On the other hand, if I'd waited until I saw things working and bought in at 70K sats or something like that - assuredly because I didn't want to get left behind - then I'd be holding a 85% lost in my portfolio for a very long time... possibly forever (although I will hold my remaining BC forever, because now it's free - thanks to luck/early trust).

The bottom line is this... even if this were a scam, and the BTC was simply used to pump the coin and then dump it... with that much BTC for manipulation... it's gonna be one hell of a pump... and you should be able to capitalize on it.  On the other hand, if the parties are driven by greed (which we can assume as aren't all of us?) and even if they were initially planning on running with the funds - wouldn't it make more sense to get 10K BTC rather than ~2500 BTC?  It's clear that the amount of work required to deliver at least the first phases of this project (wallet/contracts/marketplace) is relatively simple to do... it's also obvious that if there's this much demand without those things being in place - then demand will only increase (along with price) - when it rolls out!  

If you're worried, wait - if you can absorb the risk/loss for the opportunity to capitalize on this demand/hype then you undoubtedly already threw your BTC into this.  If you're not sure, then look at it exactly the same as you would a lottery ticket or slot machine... where I live people dump millions every week into 1:1,000,000 long shots and they call it 'entertainment'... you might lose everything, you might double your money, or you might see 10,000% gains... but the only way you can guarantee that you won't see profits in this world is by doing nothing at all until it's over.

[kaene]

Any official numbers the BitBay team can share? 
I'm wondering how close to 3000 we are.

I calculated around 1700btc so far.

The initial total amount of coins was 1billion, and there are around 390million left, so more or less 610million sold, and average price should be around 275sats ...