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

[qawzsx]

Nobody will hire you with no feedback on Odesk. That's my point. Nobody will buy from you on ebay with low feedback. Etc.

That's completely false, I have actually used both ebay and Odesk as seller of product/service, both starting from 0 feedback, and easily sold my product/service. Sure the profit/price was lower in the beginning while I'm establishing my reputation, but it's false to say "nobody" will buy from you when you have 0 feedback.

Exactly. Somehow this punk thinks that Bay will take over Odesk eventhough employee is required to deposit escrow. Same goes for Ebay too...0 feedback and you can still sell stuff and buyers will gobble it up as long as your price is cheaper than other seller.

What? Changing the subject? Where is that confidence?

"I have more bay than you can possibly imagine"

Don't call me punk you poor as quacker. Look at yourself first.

You asked for 1 bay ..you got it. What did you send? NOTHING.

I'm not going to drive to my house to pull pen drive that holds rest of my bay, punk. Get off my dick.

then why the fuck bother sending from that address.
Anyway...fock off. You're next in my ignore list

[digicidal]

Exactly. Somehow this punk thinks that Bay will take over Odesk eventhough employee is required to deposit escrow. Same goes for Ebay too...0 feedback and you can still sell stuff and buyers will gobble it up as long as your price is cheaper than other seller.

If anything double deposit will limit the amount of buyers/sellers visit the marketplace.

Wait a second... you do understand that in that case (employee) it would be absurd to require a deposit for the employee?  In that case they are the same as the vendor actually... providing a service.  If they are unknown and providing a service for a very high rate without proof of competency... then a DD escrow contract would make sense... on the other hand if they are asking a reasonable rate and willing to accept my offer (via smart contract I would draft) then I simply agree to pay smaller amounts over time as deadlines are met rather than a single contract for the entire amount upfront.

... Exactly the same as I would do for someone that was physically hired as an employee on-site, with nothing but a resume (i.e. without a reputation I could simply verify with colleagues for example).

Nothing is required on either side of a smart contract... what makes it 'smart' however is that stipulations can be integrated on one or both sides in cases where other means of assuring 'fair play' from both parties is not available.  There's nothing to say you can't sell something with no deposit required at all... also nothing saying that they (or you) can't simply violate that contract with little repercussion (other than a reputation ding)... just like any other online marketplace.

The difference is that decentralization requires a different approach to difficult situations... because there's no running to the police/moderators/government/etc. and crying "foul".  

[funsponge]

This thread should be for 25 and overs - its full of kids!

[unusualfacts30]

Exactly. Somehow this punk thinks that Bay will take over Odesk eventhough employee is required to deposit escrow. Same goes for Ebay too...0 feedback and you can still sell stuff and buyers will gobble it up as long as your price is cheaper than other seller.

If anything double deposit will limit the amount of buyers/sellers visit the marketplace.

Wait a second... you do understand that in that case (employee) it would be absurd to require a deposit for the employee?  In that case they are the same as the vendor actually... providing a service.  If they are unknown and providing a service for a very high rate without proof of competency... then a DD escrow contract would make sense... on the other hand if they are asking a reasonable rate and willing to accept my offer (via smart contract I would draft) then I simply agree to pay smaller amounts over time as deadlines are met rather than a single contract for the entire amount upfront.

... Exactly the same as I would do for someone that was physically hired as an employee on-site, with nothing but a resume (i.e. without a reputation I could simply verify with colleagues for example).

Nothing is required on either side of a smart contract... what makes it 'smart' however is that stipulations can be integrated on one or both sides in cases where other means of assuring 'fair play' from both parties is not available.  There's nothing to say you can't sell something with no deposit required at all... also nothing saying that they (or you) can't simply violate that contract with little repercussion (other than a reputation ding)... just like any other online marketplace.

The difference is that decentralization requires a different approach to difficult situations... because there's no running to the police/moderators/government/etc. and crying "foul".  

As I said before I agree with what you're saying. Double deposit is there just as precaution (I think) and that'll benefit everyone from small to big guys who'll try to use marketplace.  Big guys can secure their transaction and small guys will just ignore it altogether to make deal go easy & faster for them. I'm sure there will be things like "reviews" etc.

Another option could be require double deposit from new buyers/sellers and once they've built reputation then they have an option to use it as required. Meaning if buyer A has 5+ reputation and seller has 5+ reputation they won't have to use double deposit.

That Odesk argument started from that punk (qawzsx) who said that double deposit is better for freelance service. Personally, I don't think it'll even be used when hiring people for small jobs. It has no purpose there and might do more harm than good.

[Gizfreak]

Amen

[digicidal]

My 2 pennies..

Play nice please guys and lets have a thread of ideas and cooperation to get where we are going.

We could probably even discuss opportunities for how to actually make our own money using BAY (or even smart contracts in general for that matter) rather than worrying as much about when everyone "gets rich sitting around counting their coins"... but I think, perhaps, the thread/coin is a little too young for that.

Once again I appreciate your .02 however.

[unusualfacts30]

I wish the mods would come in here and clean house. You guys are ruining what should be an intelligent discussion about a potential game-changing technology with your schoolyard bickering.

I agree and vote it gets deleted, what a waste of time scanning that crap.

We are only as strong as our weakest link guys, we are a young community yes this does not mean we are stupid and we do not know how to be nice to eachother?, this means it's going require leaders to work hard and build this community from the ground.

We have a patient lead dev who is as bright as they come, we have a team who i have no reason to disbelieve, we also have a community who will without a doubt need to play a constructive roll in this going and maintaining mainstream,.

Lead dev + Team + Strong Community = A bright future we would be unstoppable. Now take just one of them out of the equation and the calculations start getting angry and do not add up.

My 2 pennies..

Play nice please guys and lets have a thread of ideas and cooperation to get where we are going.

Some people have need to call other names when they question anything about BitBay. They hurt Bay more than anything else. They're as bad as fudders

[Gizfreak]

[RJF]

And for buyers either...You have to own 2 times the value of what you buy ?

I think a lot of you discussing "double escrow" are missing the point. Double does not mean twice the price, it means both sides. From what I see, escrow amounts would be agreed upon not fixed at double the items cost.

Please show where in the FAQ it says double the cost of the item in escrow...

[digicidal]

And for buyers either...You have to own 2 times the value of what you buy ?

I think a lot of you discussing "double escrow" are missing the point. Double does not mean twice the price, it means both sides. From what I see, escrow amounts would be agreed upon not fixed at double the items cost.

Please show where in the FAQ it says double the cost of the item in escrow...

I believe the confusion stems from a simple example David provided awhile back.  The idea is simply that in order to make it extremely unlikely for fraud to occur in the case of an unknown buyer, if the seller required a 100% escrow from their side... then it would be virtually inconceivable that they would not commit to accepting their side of the deal.

There are a number of aspects that haven't been dealt with from a practical standpoint... but to his credit - there's already more to show (in Halo) than I can see on the Etherium side, IMO.  On the other hand, there isn't any concrete evidence that smart contracts will ever be used for much beyond simple transactions in rare cases.  On the other hand, it might be as disruptive to the current system of contractual agreements and trade negotiation that smartphones or twitter are to personal communication... which is actually the case is anyone's guess at this point.

[RJF]

And for buyers either...You have to own 2 times the value of what you buy ?

I think a lot of you discussing "double escrow" are missing the point. Double does not mean twice the price, it means both sides. From what I see, escrow amounts would be agreed upon not fixed at double the items cost.

Please show where in the FAQ it says double the cost of the item in escrow...

I believe the confusion stems from a simple example David provided awhile back.  The idea is simply that in order to make it extremely unlikely for fraud to occur in the case of an unknown buyer, if the seller required a 100% escrow from their side... then it would be virtually inconceivable that they would not commit to accepting their side of the deal.

There are a number of aspects that haven't been dealt with from a practical standpoint... but to his credit - there's already more to show (in Halo) than I can see on the Etherium side, IMO.  On the other hand, there isn't any concrete evidence that smart contracts will ever be used for much beyond simple transactions in rare cases.  On the other hand, it might be as disruptive to the current system of contractual agreements and trade negotiation that smartphones or twitter are to personal communication... which is actually the case is anyone's guess at this point.

Well said. There wasn't any concrete evidence the Internet would be any more that an academic tool in 1992 or any other new technology. It's all in how you use and market it....

[elkrisi]

And for buyers either...You have to own 2 times the value of what you buy ?

I think a lot of you discussing "double escrow" are missing the point. Double does not mean twice the price, it means both sides. From what I see, escrow amounts would be agreed upon not fixed at double the items cost.

Please show where in the FAQ it says double the cost of the item in escrow...

I believe the confusion stems from a simple example David provided awhile back.  The idea is simply that in order to make it extremely unlikely for fraud to occur in the case of an unknown buyer, if the seller required a 100% escrow from their side... then it would be virtually inconceivable that they would not commit to accepting their side of the deal.

There are a number of aspects that haven't been dealt with from a practical standpoint... but to his credit - there's already more to show (in Halo) than I can see on the Etherium side, IMO.  On the other hand, there isn't any concrete evidence that smart contracts will ever be used for much beyond simple transactions in rare cases.  On the other hand, it might be as disruptive to the current system of contractual agreements and trade negotiation that smartphones or twitter are to personal communication... which is actually the case is anyone's guess at this point.

Well said. There wasn't any concrete evidence the Internet would be any more that an academic tool in 1992 or any other new technology. It's all in how you use and market it....

This clears the picture, I was also under the impression that double escrow means double the price. Clearly this can not work in real life. People don't even have the money to cover the price of what they buy and use credit for that. Retails sales cannot happen if people had to put down double the money for what they want. However, a flexible system where buyer and seller agree on a "security fee" of a value 1% - 10% - 50% (depending on the nature of business and risk estimation) that can create a new paradigm of doing business and has a chance of being widely accepted.

[BAYproviser]

I have a idea for dev's why not add a option to double escrow deposits of minting coins while the contract is active for example the buyer as a mint button or check box during the process in the period to set the time contract

if the time for transaction is 3 weeks with option to mint during this time to mint
the minting would end before the preset dates of the contracts ends

this will give more reason to use the system and  gain more coins also help with the system by minting BAY coins

of course for future projects


My .2 satoshi

[smallbay]

I have a idea for dev's why not add a option to double escrow deposits of minting coins while the contract is active for example the buyer as a mint button or check box during the process in the period to set the time contract

if time for transaction is 3 weeks with option to mint during this time to mint
the minting would end before the preset dates of the contracts ends

this will give more reason to use the system and  gain more coins also help with the system by minting BAY coins

its just an idea

3 days until friday

[Eastbay]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

[Mig-23]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

+100

[smallbay]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

Give it some more time. I'm sure a dev like david won't leave the project and that bay still has a long way ahead.

[VampiricElder]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

True

[qawzsx]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

I bet there is no dev crazy enough to send >200 BTC to an exchange to "buy" his own coins.

Where are those dumps you're speaking about? You mean the very-low volume bot-trades pushing the price down? oh, yeah, such "dumps"...

[MemoryShock]

Had high hopes for this one... so far its just been sad.... so much dumping and below ICO price, ICO coins should have addresses where the btc raised can be sent to so that it can be monitored by the community, so they know if the dev is just dumping his 'free' coins or not..

Bitswift and Bytecent did a good job as far as return on ICO coins go... wonder where this one went wrong?

My .2 bay

Both have significantly less coins in circulation and completely different projects.  

I don't think that this one 'went wrong' at all.  A large majority of the coins are not on the market and as such the price is easy to manipulate.  As well, people who bought in at the crowd sale knew the time frame that David and the BitBay team were aiming for.  Nothing has changed along those lines.  

I think that it should be common knowledge by now that the hedging is intended to provide a stable currency for the marketplace; it's necessary when trading a new currency for goods/services that a currency not lose value (or even gain which produces sellers remorse).  If the hedging works than the investment is a no brainer and all eyes are on the marketplace.  It will be the only one with smart contracts, the viability of such for real world use I fully expect to see debates on for the next few months.  

It's going to be interesting and I expect it to go either way with cautious optimism.  I'm looking forward to the new website which hopefully contains a forum so we don't have to rely solely on this thread for updates.