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

[unusualfacts30]

I don't understand why people first buy ICO without doing research and then complain about it. The current development situation is the same as it was during ICO. Sit down and relax. Buy your coins once everything is implemented even if it's not as cheap as now.

Edit: I strongly expect it goes to 130 within the next 24 hours if i watch the charts.

It'll reach over 300 by Friday. It's name of the game. Shake, Accumulate & Dump. Rinse & repeat. Let me be honest for a little bit and tell you that eventhough smart contract is released there are lot of things pending such Nighttrader, marketplace, whitelist. It's not even one month old and no magic would happen overnight. If you bought at ICO price..export your share to pen drive and forget about it so you're not tempted to sell when price hits 300. Obviously if you like day trading then by all means buy low sell high...You can do it for as long as you want until marketplace is launched but there isn't much profit in it on day to day basis and there are lot of other coins which will give you more profit in day trading. I could careless about 10% daily profit. If I wanted to day trade BitBay would be my last choice. Truth.

[powersup]

incoming pump, volume has exploded. someone just put down 20BTC @ 102sat at bittrex  

[unusualfacts30]

Oh cool. I hadn't seen the FAQ. was the 33% of the ICO BTC distributed on Dec. 5th when the smart contract wallet was released?

I really don't know much about this stuff. Is there a way to see the ICO BTC sitting at BTER?

Yes, Every time a milestone reaches 33% will be released according to FAQ. That should give you enough confidence in the project and know that marketplace will be released around the time they said it would be released or they won't get the fund from Bter as agreed upon.

There is no way to tell what you're asking unless Bter agrees to disclose that info and for that you'll have to contact them and see what you can get.

[unusualfacts30]

Not enough transparency. If things are left to the imagination you can't really blame people for using their...imagination.

That's true and for me David is certainly not to blame of being not transparent. No, for me it's the BitBay Team, that I only see moderating this thread and for the rest depending on their lead developer to do some PR. They should do the talking and just let the developers do their job, which is...well...developing.

Well I agree, but there's one problem with that whole thing, to me it looks like the Bay has a broken wallet situation.  Can't PR a situation that ain't getting fixed. The working wallet was supposed to be out by now, and meanwhile instead of dev work 24/7 to get that wallet fixed all i been seeing is dev spending half the day flaming the net the other half hooking up with his BC homies on some campaign to get him elected dev of the year. Halo shill accounts keep posting vote for david z and whatnot. So marketing is getting done, just not the right kind, and by the wrong people, at the wrong time, for the wrong outcome.

Wallet works. Please chillout.

http://www.spookycoins.com/bitbay-smart-contracts/

[zoata87]

Not enough transparency. If things are left to the imagination you can't really blame people for using their...imagination.

That's true and for me David is certainly not to blame of being not transparent. No, for me it's the BitBay Team, that I only see moderating this thread and for the rest depending on their lead developer to do some PR. They should do the talking and just let the developers do their job, which is...well...developing.

Well I agree, but there's one problem with that whole thing, to me it looks like the Bay has a broken wallet situation.  Can't PR a situation that ain't getting fixed. The working wallet was supposed to be out by now, and meanwhile instead of dev work 24/7 to get that wallet fixed all i been seeing is dev spending half the day flaming the net the other half hooking up with his BC homies on some campaign to get him elected dev of the year. Halo shill accounts keep posting vote for david z and whatnot. So marketing is getting done, just not the right kind, and by the wrong people, at the wrong time, for the wrong outcome.

Wallet works. Please chillout.

http://www.spookycoins.com/bitbay-smart-contracts/

link at the end of the article points to the old bitbay site.

[qawzsx]

The richlist 1st wallet holds 360 mill coins at the moment.
There were 450 mills utill 2014-12-08 15:49:20   

That suspiciously looks like about the time bay started selling for sub-100 prices.

The ico i belive raised 1300 btcs   by  the times 550 million bays were sold.

1300 btcs = 541.66 mill bays * 240 satoshis
 
The remaining 460 million were supposed to be burnt .. but they werent ..

Exchange wallet. Your figures are totally incorrect as well. What's your point?

Nope its not an exchange wallet.and my figures are correct .
https://chainz.cryptoid.info/bay/#!rich
There was a withdrawal of 90 million coins on the 8th of December

You are an idiot. That is the cold storage from BTER ))))
What a moron. Stop using crypto you idiot.

[qawzsx]

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).

Thanks bud, yeah right now im just torn between doing pegging early to protect you guys or sticking to the schedule. Markets is the easier task, pegging is a bit more involved since it means adding mining rules. Im sort of preparing myself as we speak and studying bitcon/blackcoin source (its spagetti code lol).

And yeah ive got a major bithalo/blackhalo release to do too. That release would also effect bitbay as a wallet update.

Its one of those things where ive got lots of work piled on my desk and im deciding which ones are most important today.

My coders here in cambodia are still learning so they dont work on any major milestones(unfortunately it is really hard to find experienced software dev). I'm still doing all the coding. So with that said ive sent out my friend who works with me on all my Halo stuff to start scouting for a superdev not necessarily bitcoin related. And the guys are looking in china and im looking at India for another group.

Its just that even there, its a lot of interviewing i dont have time for and would rather be coding. So ive got my friend looking at it now and doing that for us in exchange for a bounty.

Absolutely stick to the task!!!!
There is no investor protection without coin distribution. Right now the coins distribution is low. Pegging will destroy the market.

So don't touch the pegging thing right now. I get it, there are desperate people who want to get out and ask for this thing. Fuck them, let them dump or shit. Nobody cares. DISTRIBUTION is a big factor and it's lacking right now. Add a pegging to that and you've kill it. You'll have whales owning tons of coins milking monkey from the newcomers forever.

Let the distribution grow a little. Start the marketplace first. Don't do such a mistake because morons are crying. They are crying all time because they can't make 10x profit in one month for their 0.5 BTC investment.

[toknormal]

Pegging will destroy the market.

So don't touch the pegging thing right now.

+1 Stick to the task.

[awais3344_1]

that is good pump.  but waiting for the order to get filled yet 

[Decentradical]

There is no investor protection without coin distribution. Right now the coins distribution is low. Pegging will destroy the market.

I think it's up for debate whether it's pegging or free market that's better for distribution. So far I've only seen volatility increase wallet inequality not lower it. Dogecoin being a prime example of that.

[toknormal]

Bumped from the other thread. Worth noting:

What i can tell you is this and its important. The guy who hired me wants more than all the investors combined to have a successful project despite the absolute obstacles that are thrown in his way. He is way too kind a person and probably was not making the wisest of business calls. I'm doing everything in my power to help him as much as i can to make his project a success.

I believe it will be as long as there is a bit of patience.

[awais3344_1]

so much fake volume. 

[qawzsx]

There is no investor protection without coin distribution. Right now the coins distribution is low. Pegging will destroy the market.

I think it's up for debate whether it's pegging or free market that's better for distribution. So far I've only seen volatility increase wallet inequality not lower it. Dogecoin being a prime example of that.

How can you create distribution with pegging? You are limiting the volume available to be moved from hand to hand. How can that create distribution?

There is no debate here. There are the ones who want out because they did not made 3254x out of their 0.5 BTC investment demanding pegging. Most of them don't even understand the concept. They want out as fast as possible.

[dzimbeck]

Not enough transparency. If things are left to the imagination you can't really blame people for using their...imagination.

That's true and for me David is certainly not to blame of being not transparent. No, for me it's the BitBay Team, that I only see moderating this thread and for the rest depending on their lead developer to do some PR. They should do the talking and just let the developers do their job, which is...well...developing.

Well I agree, but there's one problem with that whole thing, to me it looks like the Bay has a broken wallet situation.  Can't PR a situation that ain't getting fixed. The working wallet was supposed to be out by now, and meanwhile instead of dev work 24/7 to get that wallet fixed all i been seeing is dev spending half the day flaming the net the other half hooking up with his BC homies on some campaign to get him elected dev of the year. Halo shill accounts keep posting vote for david z and whatnot. So marketing is getting done, just not the right kind, and by the wrong people, at the wrong time, for the wrong outcome.

The wallet works just fine. There was a very minor bug with sending contracts directly to a bitbay address and it was instantly fixed. I'm pushing out another update to make the question mark buttons work in a moment. As for "Halo schill accounts" that is retarded i was in BC for a year. Go read the BC subreddit that was NOT my initiative nor is it my interest.

I'm not in charge of marketing. I dont "flame on the net", i was asked to post here which is personally a big waste of my time especially seeing comments like these. And im pretty sure i know where this comment comes from and who coached it.

[CryptoREI]

so much fake volume. 

I agree and from what I have noticed myself, the fake volume only happens when people are active on the forum. So it must be someone who is online now.

[unusualfacts30]

Bumped from the other thread. Worth noting:

What i can tell you is this and its important. The guy who hired me wants more than all the investors combined to have a successful project despite the absolute obstacles that are thrown in his way. He is way too kind a person and probably was not making the wisest of business calls. I'm doing everything in my power to help him as much as i can to make his project a success.

I believe it will be as long as there is a bit of patience.

It's pretty obvious from his post that there isn't one or two person working on it. It definitely looks like big project with solid long term goal in mind. David said that THEY had him fill out tech stuff in FAQ and then there is THIS guy who is kind and hired him.

It's safe to say that these guys are not playing around and they're serious about the project regardless of obstacles that comes in their way. Only time will tell the rest.

In one post David also mentioned that these guys are well connected. Truth be told they've assigned David a job of  Lead Dev and he wouldn't know much about what's going on in marketing side or other side for that matter. It's just like working in big corporation where HR doesn't know what IT is doing and vice versa.

It could also be possible that their original plan was to create a competitor site to Alibaba but then they heard about decentralized marketplace and thought it would be a good idea to combine both of them and that's when they hired David.

[awais3344_1]

so much fake volume. 

I agree and from what I have noticed myself, the fake volume only happens when people are active on the forum. So it must be someone who is online now.

the problem with the fake volume is, hardly anyone ever follows it. its utterly stupid.

[Decentradical]

There is no investor protection without coin distribution. Right now the coins distribution is low. Pegging will destroy the market.

I think it's up for debate whether it's pegging or free market that's better for distribution. So far I've only seen volatility increase wallet inequality not lower it. Dogecoin being a prime example of that.

How can you create distribution with pegging? You are limiting the volume available to be moved from hand to hand. How can that create distribution?

You take away the advantage whales enjoy in the short term. Whales can manipulate and set walls. By limiting that volume you're freeing up that game for everyone.

A dump is meant to create wallet inequality followed by an increase in price. The richest wallets get richer during a dump. They're the ones scooping up coins during a firesale.

A pump is meant to create wallet equality in order to get out of a coin which is usually followed by a decrease in price. The more bagholders the merrier.

To limit the volume in both ways you're basically spoiling the game for short-traders. Whales can't get out of their own dumps as easily and they can't reap as many coins during their pumps.

[dzimbeck]

There is no investor protection without coin distribution. Right now the coins distribution is low. Pegging will destroy the market.

I think it's up for debate whether it's pegging or free market that's better for distribution. So far I've only seen volatility increase wallet inequality not lower it. Dogecoin being a prime example of that.

How can you create distribution with pegging? You are limiting the volume available to be moved from hand to hand. How can that create distribution?

You take away the advantage whales enjoy in the short term. Whales can manipulate and set walls. By limiting that volume you're freeing up that game for everyone.

A dump is meant to create wallet inequality followed by an increase in price. The richest wallets get richer during a dump. They're the ones scooping up coins during a firesale.

A pump is meant to create wallet equality in order to get out of a coin which is usually followed by a decrease in price. The more bagholders the merrier.

To limit the volume in both ways you're basically spoiling the game for short-traders. Whales can't get out of their own dumps as easily and they can't reap as many coins during their pumps.

Of course.

However I have decided to hit some obvious milestones. The pegging intiative I'm gonna start specing it out simultaneously and we will revisit this subject.

[Munti]

David. This is another vote for focusing on the important stuff first. Pegging can wait.