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

[Decentradical]

you can simply close the topic.Like this. Hello everyone. We got the escrow and no longer need this topic.

There's so much more to be said about this. The implications really haven't been fully explored yet. But perhaps it would serve better as a general discussion on decentralised exchanges and the digital economy. Other coins are trying something similar and perhaps the people vested against this specific coin could share their thoughts on it as well.

[toknormal]

Bitcoin making nice steady agains against BAY as development progresses - receiving a spacial boost on today's news.

Now up 55% since the IPO 

[BitBay Team]

Quit spamming and trolling crap in this thread a few have been asked to not post here and some have been reported to BTC talk admins. Troll quoting posts also deleted.

[Accommodation]

Any chance for normal discussions? Just posting shit meme's and trolling? WTF?

[TheDirtybird]

Trolling is the new social disease for weak minds and the narcissistic and Machiavellian among other personality problems. http://www.gmanetwork.com/news/story/351405/scitech/science/internet-trolls-have-real-personality-problems-study-shows

You really should just feel sorry for them and they should get some help.

 

[DeezCoinz]

Please excuse me for my ignorance, I've only recently started to look into altcoins. Please tell me if my questions don't make sense or where I can find the information I'm seeking on the net. It looks like the ICO collected 3000 BTC. That's about $1.125 million USD today. Those funds are held at BTER.

1. Who ran the ICO?
2. How are the funds stored on BTER? Wallet, escrow account, something else?
3. What individual or group owns the ICO wallet/account? Who can release funds?
4. Who makes the determination that criteria have been met to allow distribution of funds from the ICO account?
5. When funds are released, which individuals receive those funds and how much does each individual receive?
6. Where is the documentation regarding how the funds are being spent to further the bitbay project?
7. If today's software release triggered a distribution of ICO funds, what new functions are available in the new wallet? 
8. What individual is accountable for the finances of the project and can we see ledgers?
9. If bitbay drops to zero value today, who gets to keep the ICO money?
10. I didn't see an accountant listed among the project members. Who is doing the accounting? Will there be an audit?

Thanks.

[toknormal]

10. I didn't see an accountant listed among the project members. Who is doing the accounting? Will there be an audit?

Accountants !!???

Audits !!!??

What do you think this is - the FED or something ? 

The whole point of a "vapourware" IPO is to transfer risk from the developers to the investors. That's all the accounting you need to know - your sitting on the risk asset because you bought it.

Treat it as a learning fee - next time ask to see before you buy 

[DeezCoinz]

10. I didn't see an accountant listed among the project members. Who is doing the accounting? Will there be an audit?

Treat it as a learning fee - next time ask to see before you buy 

That's exactly what I'm doing  .

It's easy to clone a new coin: http://devtome.com/doku.php?id=scrypt_altcoin_cloning_guide

Now I need to know how little personal or accounting information I'd need to reveal when I run my own ICO. That seems to be where the cash is. So far it seems like no one cares where the ICO money goes.

Thanks.

[amytheplanarshift]

I don't think I've ever seen so much FUD concentrated in a single thread. What gives?

[qawzsx]

I don't think I've ever seen so much FUD concentrated in a single thread. What gives?

You should see the amount of FUD pointed at Bitcoin , go check btc-e troll box, your mind will bleed after 30 minutes
This is the strategy that you see with every fresh market out there.

There are:
- the ones who make money from daytrading (which are forming groups and paying low life forums warriors to spread BS on various markets).
- the ones who are not very good at daytrading, which are throwing the money in and are using a bullish approach.

So, bulls are like - "to the moon", bears(daytraders) are like - "X is going down, scam, dev dumped premine, etc"

I'm so baffled by the fact that people are still reacting to those low life idiots, which are hurting everything, and this forums too.

And there is the worst kind, the RiverBoatBTC kind. The ones who go butt hurt after loosing 100 bucks, and they are spreading BS just because they lost , thanks to them we are making money

[toknormal]

What gives?

The price ? Quarter of a million dollars that went up in smoke ?

(Unrealised of course for most, but that might have something to do with it).

[SkyValeey]

Bitcoin making nice steady agains against BAY as development progresses - receiving a spacial boost on today's news.

Now up 55% since the IPO  

BitBay community says about that "price is not important" LOL

The real answer for you is:

Bay had too expensive ICO. Hard to be above ICO with so big cap without big pump team working with devs.

Look at Arch. Similar price-story.

I don't want to buy Bay now, just watching (so don't take my words as a fud).

Bay could be in double digits and still got good cap (90 sato price = 340k $ which is still good cap nowadays).

Doge and post-doge coins era is over. 1.000.000.000 is too much. It means that if Bay would drop into 30-80 sato price, it would be hard to jump above 200 or 300 again.

That's why I was shocked when I saw 50 sato dip at bittrex chart and wonder WTF? Something sleazy or just hard thumb trader?

I made nor profit nor loss at Bay. Watching and maybe rebuy but this price is dangerous for my trading.

[toknormal]

BitBay community says about that "price is not important" LOL

It wouldn't be if the IPO hadn't made such a meal of the opening price - graduating it the way they did and notching it up 10 Sats every day or whatever it was. The implication of that was that price IS important.

I acknowledge that investors have to accept the fact that they are taking on risk when ploughing cash into an IPO for an as yet undeveloped product, but you can't expect them not to have a right good moan about it if the valuation then plummets in the weeks after. I think that's their right.

So what if it goes back up sometime way in the future. It demonstrates that the IPO was way overvalued and that investors picked the worst of 3 categories:

 - those that didn't invest have the luxury of waiting till they see some real product and then buying in at well below IPO prices
 - developers have the luxury of having transferred the bulk of the risk to the IPO investors
 - the IPO investors are carrying the bag for the whole show

Under those circumstance, I don't think you can complain if investors aren't all sweetness and light and that the thread isn't constructive.

[smallbay]

what is happening?

[Cryptosis]

A lot of misconceptions about RiverBoatBTC's nick. Most think its Bitcoins ticker but its not, its actually a acronym for his first true love. Black Thick Cock, his ass is so worn out you could probably park a RiverBoat up it.

[UNO_owner]

Bitcoin making nice steady agains against BAY as development progresses - receiving a spacial boost on today's news.

Now up 55% since the IPO  

BitBay community says about that "price is not important" LOL

The real answer for you is:

Bay had too expensive ICO. Hard to be above ICO with so big cap without big pump team working with devs.

Look at Arch. Similar price-story.

I don't want to buy Bay now, just watching (so don't take my words as a fud).

Bay could be in double digits and still got good cap (90 sato price = 340k $ which is still good cap nowadays).

Doge and post-doge coins era is over. 1.000.000.000 is too much. It means that if Bay would drop into 30-80 sato price, it would be hard to jump above 200 or 300 again.

That's why I was shocked when I saw 50 sato dip at bittrex chart and wonder WTF? Something sleazy or just hard thumb trader?

I made nor profit nor loss at Bay. Watching and maybe rebuy but this price is dangerous for my trading.

But you obviously haven't done your research since David is going to peg 1 BAY to 1 USD (about 250k satoshi).   He has worked out an ingenious method to do that too, all it takes is for exchanges to agree not to let you sell or withdraw 99% of the coins you buy.  LOL.

Anyone want smart contract tech?  Buy blackcoin or bitcoin.  It already exists.  It's already functional.  I will never understand why this IPO got 3000 BTC by promising something that already exists.  

[MemoryShock]

The last few pages are exactly why a dedicated forum is necessary.  Nothing but a lot of people who are likely part of their own pump groups who are misusing memes (arguably the biggest offense in this thread) and repeating talking points.  This was never meant to be a short term investment (did someone really compare this with Doge; the joke coin?).

David has been very transparent on this and another thread.  This is a big project.  It is ambitious.  Not every ICO maintains value but not every one of them doesn't recover.  Not all are scams.

[DiCE1904]

The last few pages are exactly why a dedicated forum is necessary.  Nothing but a lot of people who are likely part of their own pump groups who are misusing memes (arguably the biggest offense in this thread) and repeating talking points.  This was never meant to be a short term investment (did someone really compare this with Doge; the joke coin?).

David has been very transparent on this and another thread.  This is a big project.  It is ambitious.  Not every ICO maintains value but not every one of them doesn't recover.  Not all are scams.

The joke coin with a 22mill market cap and 400K in 24hour volume? that one? lol get real

[MemoryShock]

The joke coin with a 22mill market cap and 400K in 24hour volume? that one? lol get real

It was started as a joke and is a completely different project.  I referenced it correctly and have actually been a staunch supporter because it proves what a community can do.

[spookycoins]

This is the Trust Summary for RiverBoatBTC.
This guy is obviously a stain in the thread.
He's pretty much the epitome of what is wrong with the crypto scene at the moment.
Anyone who even slightly entertains the notion of listening to his opinion deserves what they get.

To see the trust summary for yourself, click Trust link under his forum name and then click on Show Ratings.
Straight loser.