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

[Momimaus]

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.

But David is just hired for doing things. He isn´t the one holding the 3k BTC.
That´s dangerous.

Devs are not holding coins. They can stop right after the ico

Most of the features will not fit in reality with 60 sec blocktime.

They are promising unlimited features developed by anonymous devs over night where Ethereum is working since months and are still not ready to launch. And sorry Ethereum has got one of the best teams in the whole cryptospace.

I decided for myself not to invest. Too may points are pointing in the wrong direction ans turning my alarm bells on.



Be careful guys.

[FollowMe]

This here is really legit, theres lot of coins out there without any perspectives, and this coin here doesnt count to them.   
Glad to see theres serious work also in cryptoworld. This will be amply rewarded. 

[silavon]

[illodin]

Sounds like he knows them from this post:

Youve got a valid point here. There is a good amount of uncertainty. I'm the type to respect the privacy of my associates. From the discussions we had, their actions and the fact that I will be meeting one of the team members personally in a few weeks quells my superstitions. But hey, you never know where this coin is gonna go. Thats why just take a "wait and see" attitude. By the way, from the discussions I had with these guys, they are not really at all like Tilecoin

So he has talked to them on Skype or something?

"Hi there, we are Bob & Lee and we'll hire you for 500 BTC, deal?"

Then Bob & Lee proceed to raise 3000 BTC and... fill in the rest.


The least BTER should do imo is to release the funds after the meeting, in which the BitBay team member proves his identity to David so there is at least some sort of proof.

[altcoinUK]

I think, I also decided not to invest - except if the DEV answer my questions about real time hardware control and outlines how that will be possible at all with the Blackhalo solution?

I am mainly interested in the IoT offering, but it seems to me the IoT concept does not even exists on conceptual level. If there is not even conceptual solution, I can't see how this project will release a working, blockchain enabled, peer to peer Internet of Things software that controls hardware in real time.

[whetherman]

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.



 

                     

Seems to me the whole motivation for the project is the long term. The stated goal is a private sector driven Open Bazaar with the added benefits of smart contracts and IoT aspects, which if realized will be an extremely lucrative situation for both investors and devs. The difference between private and public is exactly what you see with Open Bazaar - great project, but seriously undercapitalized, under-dev'd. And falling behind in the evolving tech environment.

The chinese investors seem to have made it pretty clear they will be remaining in the backround for the time being. But they are clearly funding a rather large dev push, a David has made clear.  I will link to his post concerning the dev teams & hiring if I can find it.

So if you are looking for full financial openness about dev budgets etc at this point my guess is that it is not going to happen. One of the differences between for-profit & non-profit. However if you, like me, have been waiting for someone to step up and launch a well funded, ambitious decentralized market - this is what this situation represents.

[BitcoinBaBa]

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.

Question is not about about David and his excellent developing reputation .The question is who should be held accountable for the whole project. Don't u find it odd not even a single other identity has been revealed. What's stopping them from piggybacking on David's reputation and fool him and the investors to pull off a great con.Just trying to be vigilant here.     

[Piston Honda]

I think, I also decided not to invest - except if the DEV answer my questions about real time hardware control and outlines how that will be possible at all with the Blackhalo solution?

I am mainly interested in the IoT offering, but it seems to me the IoT concept does not even exists on conceptual level. If there is not even conceptual solution, I can't see how this project will release a working, blockchain enabled, peer to peer Internet of Things software that controls hardware in real time.

Same thing I'm thinking regarding your second comment - very curious to see how this coin integrates with the IoT in the near future.  I know it's probably tricky for more people to wrap their heads around it now, but it'll become easier to grasp when we all "see it in action" as the coin does it's thing.  

Not too worried about the whole persons behind the scenes since I trust Zimbeck and well, he obviously is working well / in tight with the dev's so given all the work/funds behind this (international) don't forget I dont think the dev will disappear.  Ppl asking for 'proof' I can understand but I also think it's pointless since any dev could just lie about that too anyways.  You can only rely on whatever info you have in front of you at the time.

This coin has already exceeded the work of SO many other shitcoins out there...hopefully it stays that way (seems so).

Very excited to see post launch how this coin will tie in with the China RMB!  Well and of course decent. marketplace actually working.

[BitcoinBaBa]

The least BTER should do imo is to release the funds after the meeting, in which the BitBay team member proves his identity to David so there is at least some sort of proof.

+1

[whetherman]

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.

But David is just hired for doing things. He isn´t the one holding the 3k BTC.
That´s dangerous.

Devs are not holding coins. They can stop right after the ico

Most of the features will not fit in reality with 60 sec blocktime.

They are promising unlimited features developed by anonymous devs over night where Ethereum is working since months and are still not ready to launch. And sorry Ethereum has got one of the best teams in the whole cryptospace.

I decided for myself not to invest. Too may points are pointing in the wrong direction ans turning my alarm bells on.



Be careful guys.

Some mixing of apples and oranges here perhaps. As David posted earlier, the mechanisms for IoT will have a much different trust requirement & execution than for example a marketplace sale, which again will be different from a smart contract fulfillment. The tech he has outlined recognizes these different scenarios.

I am also holding Ethereum, and I can tell you these are two completely different visions & goals. Ethereum is building agreements into the fabric of the average web experience. That's their web 3.0 (greatly simplified). BitBay is not trying to reinvent the net. And throwing around a phrase like "anonymous devs over night" is just silly, and disrespectful to the proven implementations and methods of the Halo system.

[chicken65]

Seems to me the whole motivation for the project is the long term. The stated goal is a private sector driven Open Bazaar with the added benefits of smart contracts and IoT aspects, which if realized will be an extremely lucrative situation for both investors and devs. The difference between private and public is exactly what you see with Open Bazaar - great project, but seriously undercapitalized, under-dev'd. And falling behind in the evolving tech environment.

The chinese investors seem to have made it pretty clear they will be remaining in the backround for the time being. But they are clearly funding a rather large dev push, a David has made clear.  I will link to his post concerning the dev teams & hiring if I can find it.

So if you are looking for full financial openness about dev budgets etc at this point my guess is that it is not going to happen. One of the differences between for-profit & non-profit. However if you, like me, have been waiting for someone to step up and launch a well funded, ambitious decentralized market - this is what this situation represents.

Thanks for that. Explains quite a lot to me.

[Mig-23]

after ico end,..just stay up to date with ongoing project
to avoid investor panic

[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.

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.

Well I simply believe that in cases which require realtime or near-realtime blockchain as it exists now, will not and can not be used. Rather some sort of off-chain hybrid system, which could possibly tie in to blockchain for record keeping purposes. However, if its off-chain I think some trust delegation is required. If we're delegating trust, why not just use existing technologies. Ofc, I am still new with all this tech so I might be off the mark

Still, I do not think the physics of bitcoin-style transaction confirmation on can be cheated enough to work realtime. Especially given the limited processing power and network throughput of proposed IoT devices. I am reading up on GadgetCoin now though, maybe they'll convince me otherwise.

Smart contracting, BitBay or Ethereum style, is awesome and has many applications. I will be watching it closely.

[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.

Question is not about about David and his excellent developing reputation .The question is who should be held accountable for the whole project. Don't u find it odd not even a single other identity has been revealed. What's stopping them from piggybacking on David's reputation and fool him and the investors to pull off a great con.Just trying to be vigilant here.     

I also invest outside Crypto. Such information isn't always available for many reasons. Lets say a Fiat world company I have invested in went under, its game over. Its not good when it happens (and it has) but thats the risk. I cant hold anyone responsible even if I did know who they were.  I get where your coming from but I think the nature of Crypto means a lot of people will remain in the shadows.   Case in point:  James the dev of BTCD/Supernet etc. No one has seen him or knows who he is. Didn't stop people investing hugely in his projects and he has backers as well who remain in the shadows.
I dont particularly like it the anonymous side of the Crypto world my self but thats the risk and lets face it when things go well in Crypto the profits can be exceptionally good.

[Momimaus]

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.

But David is just hired for doing things. He isn´t the one holding the 3k BTC.
That´s dangerous.

Devs are not holding coins. They can stop right after the ico

Most of the features will not fit in reality with 60 sec blocktime.

They are promising unlimited features developed by anonymous devs over night where Ethereum is working since months and are still not ready to launch. And sorry Ethereum has got one of the best teams in the whole cryptospace.

I decided for myself not to invest. Too may points are pointing in the wrong direction ans turning my alarm bells on.



Be careful guys.

Some mixing of apples and oranges here perhaps. As David posted earlier, the mechanisms for IoT will have a much different trust requirement & execution than for example a marketplace sale, which again will be different from a smart contract fulfillment. The tech he has outlined recognizes these different scenarios.

I am also holding Ethereum, and I can tell you these are two completely different visions & goals. Ethereum is building agreements into the fabric of the average web experience. That's their web 3.0 (greatly simplified). BitBay is not trying to reinvent the net. And throwing around a phrase like "anonymous devs over night" is just silly, and disrespectful to the proven implementations and methods of the Halo system.

looks like everytime I post something I get a repost of a four weeks old account.

Please spend some time on reading, it is not about David an Bithalo. He is known, but he is just hired. The rest is anonymous. The guys holding our money are anonymous.

And just in case you are really not just a created sockpuppet for promoting this, the most important thing in crypto is to avoid getting scamed. Simply as that. I have seen a lot of this threads, and the ones which promising heaven on earth are most likely scams.

[Don Flamenco]

Seems to me the whole motivation for the project is the long term. The stated goal is a private sector driven Open Bazaar with the added benefits of smart contracts and IoT aspects, which if realized will be an extremely lucrative situation for both investors and devs. The difference between private and public is exactly what you see with Open Bazaar - great project, but seriously undercapitalized, under-dev'd. And falling behind in the evolving tech environment.

The chinese investors seem to have made it pretty clear they will be remaining in the backround for the time being. But they are clearly funding a rather large dev push, a David has made clear.  I will link to his post concerning the dev teams & hiring if I can find it.

So if you are looking for full financial openness about dev budgets etc at this point my guess is that it is not going to happen. One of the differences between for-profit & non-profit. However if you, like me, have been waiting for someone to step up and launch a well funded, ambitious decentralized market - this is what this situation represents.

Thanks for that. Explains quite a lot to me.

I agree.  I get the sense that there is a lot of money and important people backing this project.  And, just like in any business, you can have the greatest ideas in the world and have your business fail if you don't have the backing or connections to get your feet off the ground.

[altcoinUK]

Some mixing of apples and oranges here perhaps. As David posted earlier, the mechanisms for IoT will have a much different trust requirement & execution than for example a marketplace sale, which again will be different from a smart contract fulfillment. The tech he has outlined recognizes these different scenarios.

It seems to me you are the one who is mixing here something.

Of course the DEV recognizes the difference and needs in IoT related implementations ... no shit ... it is a very different ball game ... the issue is that Dave (though he is a hard working, very knowledgeable and honest guy) doesn't have a feasible IoT design, not even at conceptual level - at least he couldn't answer my simple question about turning ON/OFF an IoT enabled light switch in the context of a blockchain enabled application. He doesn't know how real time hardware control works, as simple as that. And nothing wrong with that, IoT and hardware control applications that expose a user interface are complex software, but in this case they shouldn't collect the money by using the buzz word of Internet of Things, because it is completely misleading.

[Momimaus]

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.

Question is not about about David and his excellent developing reputation .The question is who should be held accountable for the whole project. Don't u find it odd not even a single other identity has been revealed. What's stopping them from piggybacking on David's reputation and fool him and the investors to pull off a great con.Just trying to be vigilant here.     

I also invest outside Crypto. Such information isn't always available for many reasons. Lets say a Fiat world company I have invested in went under, its game over. Its not good when it happens (and it has) but thats the risk. I cant hold anyone responsible even if I did know who they were.  I get where your coming from but I think the nature of Crypto means a lot of people will remain in the shadows.   Case in point:  James the dev of BTCD/Supernet etc. No one has seen him or knows who he is. Didn't stop people investing hugely in his projects and he has backers as well who remain in the shadows.
I dont particularly like it the anonymous side of the Crypto world my self but thats the risk and lets face it when things go well in Crypto the profits can be exceptionally good.

But we know his actions and followed him for long time. We don´t know his address but we know his character. That´s not anonymous.

[Oops]

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

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

Thank you for the great question. Yes, we do plan on going to several other exchanges after completion of the ICO investment period @Bter. We will initially reach out to Bittrex and Cryptsy while we remain completely open to others adopting BAY as well.

As for the questions regarding completion of the in-wallet marketplace, I think it would be best to have David himself respond directly as soon as he is available / online. We are making breakthroughs everyday and release of that technology may come a lot sooner than expected. Once again everyone, we really appreciate all the support on BitBay.

Thanks for getting back to me. i decided to make a Bter account and get some before the price rises even more.

[illodin]

i decided to make a Bter account and get some before the price rises even more.

Yes, buy fast before they run out.