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

[dzimbeck]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

[Kevinrasf]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

It might be an good idea to peg earlier then expected but not at the price it goes for now.

That would be a huge pain for most investors, I do have the patience to wait for the price to go a bit up.

[dzimbeck]

i vote too peg it too half a cent first

Of course, that was the idea. Dollar is a target or a destination and certainly not needed to start at all.

I can even peg at ICO price. There is lots of options. The harder part is shifting gears. Its going to require me to step out of python and into c++ bitcoin spagetti source lol. Of course it would be nice to get some good bitcoin devs on board too. (people who know more than just how to change a port number)

[unusualfacts30]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

Here is my suggestion:

Fck everyone who is crying about price and wants to peg it. Focus on smart contract for now and once we have that sorted out then we have marketplace. After that we can worry about pegging depends on the response we get from marketplace. Pegging should be last of our concern at this moment. Let it fall to 1 sat and let the weak hands drown in their own tears. You can't make everyone happy.

You have full support of lot of people in this thread who could careless about pegging including me.

[dzimbeck]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

It might be an good idea to peg earlier then expected but not at the price it goes for now.

That would be a huge pain for most investors, I do have the patience to wait for the price to go a bit up.

The starting price is up for debate guys. The lower it is, the higher supply and the less of a burden it places on us to resell any sale into our wall.

The thing is, pegging can be done at any price even 100 dollars. But the higher the price the longer the wait for the wall to sell back into the arbitrage.

So a lower price that grows is a very attractive idea to me actually.

[Kevinrasf]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

It might be an good idea to peg earlier then expected but not at the price it goes for now.

That would be a huge pain for most investors, I do have the patience to wait for the price to go a bit up.

The starting price is up for debate guys. The lower it is, the higher supply and the less of a burden it places on us to resell any sale into our wall.

The thing is, pegging can be done at any price even 100 dollars. But the higher the price the longer the wait for the wall to sell back into the arbitrage.

So a lower price that grows is a very attractive idea to me actually.

Well to be honest I do not like the idea of pegging below ICO or @ Ico prices maybe a bit better, but the shouting guy above this post is right!

Lets focus on the contracts etc first then the pegging issue can be attended too.

[dzimbeck]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

Here is my suggestion:

Fck everyone who is crying about price and wants to peg it. Focus on smart contract for now and once we have that sorted out then we have marketplace. After that we can worry about pegging depends on the response we get from marketplace. Pegging should be last of our concern at this moment. Let it fall to 1 sat and let the weak hands drown in their own tears. You can't make everyone happy.

You have full support of lot of people in this thread who could careless about pegging including me.

Yeah but i get lots of messages from people nagging me about it. I try explaining that i dont control bitbay, i only control the tech end of things.

So yeah i know what you mean about this. I'm ok with it either way.

[Kevinrasf]

Seeing massive buys @ BTER.

volume doubles in 1 hour of time from 33 to 67 BTC

[placebo]

Seeing massive buys @ BTER.

volume doubles in 1 hour of time from 33 to 67 BTC

It was a massive dump.

See you guys at 10 sats. Looks like another GML. A marketcap of $1M and now being sold off, and it will drop to 3 sats and then a small pump.

[unusualfacts30]

David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.

I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.  

Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily.  However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed.  On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me.  In any case, I'm here for the show - and like you, for the marketplace itself.  Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.

On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray.  I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises.  Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now.  BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).

Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.

I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.

On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.

The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.

If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.

Here is my suggestion:

Fck everyone who is crying about price and wants to peg it. Focus on smart contract for now and once we have that sorted out then we have marketplace. After that we can worry about pegging depends on the response we get from marketplace. Pegging should be last of our concern at this moment. Let it fall to 1 sat and let the weak hands drown in their own tears. You can't make everyone happy.

You have full support of lot of people in this thread who could careless about pegging including me.

Yeah but i get lots of messages from people nagging me about it. I try explaining that i dont control bitbay, i only control the tech end of things.

So yeah i know what you mean about this. I'm ok with it either way.

They get in touch with you because they know you'll respond to them. Best thing to do is tell them it's not your job to monitor the price 24/7. Just focus on tech part of it. Coin is not even one month old. We can worry about price 6 months from now once everything is done.

[toknormal]

I see what you are saying here but pegging can bring volume because people want to sit out of BTC and hedge against it. ALSO we can grow the peg 5% a month. The may draw volume.

Well, if you want to try it I will certainly watch with interest.

I don't understand how can you "draw volume" by increasing the price - usually it's a reduction in price which draws volume but I've always been interested in 'anti-gravity' technology so be my guest.

Nu-bits seemed to do it. I don't know how.

[randywald]

I will sit back now and just watch the price even if i need to buy the remaining percentage of my coin stockpile at a higher price later.

[placebo]

The problem with BitBay is that it doesn't offer anything. Nothing special. Other coins like GROWcoin allow people to buy some real products, for BitBay that is not the cause.

[powersup]

this is really sad. How investors can dump their coins at this level is beyond me 

[Decentradical]

Pegging is not a get rich quick scheme. It's quite the opposite. Toknormal is correct in that pegging requires both the up AND the down swings to slowly decrease the amplitude and home in on a set price.

It would mean that in case this thing turns into a bubble all the daytraders would have less to dump at the peak and during slumps there would be less BAY available to buy in.  

In other words, Pegging slowly makes a coin less and less appealing to day-traders. Merchant like that, but nearly everybody here is not a merchant and the majority would be short-traders.

[GStealthCoin]

Did the devs release a bunch of ICO coins recently? Introducing sellers into the market?

It's the only explanation I can think of that explains why the price fell off a cliff.

[unusualfacts30]

1. Can I keep using the old wallet now until I install the new one?
2. I do need to sync to the network (I've been afk for a week) before transferring the coins to an exchange, right?
3. Should I just send the coins to an exchange, then install the new wallet, then transfer from the exchange to that wallet?  

I'm using both wallets till I can see it working 100%. So to answer your question you can use both on same computer with no issue.

Old wallet is located in C>Program Files>BitBay
New wallet is located in C>BitBay

[Decentradical]

Did the devs release a bunch of ICO coins recently? Introducing sellers into the market?

It's the only explanation I can think of that explains why the price fell off a cliff.

Now think about that explanation a bit further. How would anyone be able to make money off that?

The only coins that are available are the ICO coins. That's the market cap. That's all there is.

Bter possesses the funds. If the developers own any BAY then they would've need to buy them from Bter. IE giving Bter their money which they'll only get back if they complete the milestones. That's certainly a possibility but there's no way you can make money out of that. Even if you bought most of your own coins and then dumped them then the best result would be a draw minus trading fees.

So far the only opportunity for a quick cash grab has been to buy in at 25 and sell at 30. Those opportunities have come and gone and were very small. From there on there really isn't any profit to be made from any kind of schemes.

A more reasonable explanation is that short-term traders expected the ICO too boom right off the bat and then got into a disappointment cycle.

[Zebedee23]

What percentage of Bitbay got sold in the IPO. What exactly happened to the coins that didnt get sold. Am seeing people say they were destroyed and other people say they are for the devs to do with what they want, potentially get dumped.  If they were destroyed is there any proof? If they were kept is their a public address?

[randywald]

What percentage of Bitbay got sold in the IPO. What exactly happened to the coins that didnt get sold. Am seeing people say they were destroyed and other people say they are for the devs to do with what they want, potentially get dumped.  If they were destroyed is there any proof? If they were kept is their a public address?

The ICO was completely sold out! I saw it with my own eyes.