BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[dzimbeck]

i still using wallet v1.0.0
forgot that i still have this coin
what version right now

The qt-wallet in the OP is the correct version. However you may also test/download the new BitBay client with markets which is different from the qt.

However, the markets client is just testing until we confirm linux and mac are also running perfectly (so far so good).

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[gefafwisp]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

[dzimbeck]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

BitBay is open for public use, just let me know what platform you are on and i can PM a link. We are in the process of making sure Linux and Mac run smooth and getting a new landing page for the website and then can put a download on there.

I'm looking into Syscoin Blockmarket. This is very interesting project. Can you explain to me how its decentralized? I checked their website and its not easy to navigate. I wish there was more explanation on their project. They don't seem to have any contracts system. Anyways, if so, hats off to them. I know that Open Bazaar was in private tests but no public release.

In many ways, only BitBay and Blackcoin knew this release was coming so soon.

Regardless, BitHalo was the first smart contracts and we've been around for almost a year now (May 29th release). So I can say that these markets that run in BitBay are not only decentralized, but extremely user friendly and have built in unbreakable smart contracts which can be used for sale of goods, employment, barter etc. What excites me is double deposit escrow since arbiters/middle men arent needed. (its 2 party escrow/ true smart contracts)

Anyways, I would be happy to know more about what syscoin had developed. I always thought it was so awesome how they went after that Green guy from Mintpal. If you are friends tell them I said hello and wish them good luck on their project.

[xyzzyx]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on.
http://wiki.nxtcrypto.org/wiki/Marketplace
http://nxtfreemarket.com/

Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other.  Competition is good and hopefully will result in a better over-all user experience in the long run.

[dzimbeck]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on.
http://wiki.nxtcrypto.org/wiki/Marketplace
http://nxtfreemarket.com/

Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other.  Competition is good and hopefully will result in a better over-all user experience in the long run.

I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success.

As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on.

[3r197]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on.
http://wiki.nxtcrypto.org/wiki/Marketplace
http://nxtfreemarket.com/

Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other.  Competition is good and hopefully will result in a better over-all user experience in the long run.

I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success.

As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on.

LOL, Nxt coin is about "the" most complex coin in existence!!! But hey, I guess us layman should suck it up and understand it's rules if we are to respect it. I was lost on trying to learn the maZe of NXT that 10 people or so created and demanded that if you don't stake you will be penalized - on top of it's "asset" spinoffs!!
NXT's future is limited because its structure was created by people who have no concept of a simple, reasonable reality for the basic wallet holder/user.  NXT is for people with PHD's in computer science!"
Why the hell do coins need asset spinoffs?
Bitbay can simplify all that - and I don't need a PHd in computer science to understand it!!

[dzimbeck]

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on.
http://wiki.nxtcrypto.org/wiki/Marketplace
http://nxtfreemarket.com/

Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other.  Competition is good and hopefully will result in a better over-all user experience in the long run.

I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success.

As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on.

LOL, Nxt coin is about "the" most complex coin in existence!!! But hey, I guess us layman should suck it up and understand it's rules if we are to respect it. I was lost on trying to learn the maZe of NXT that 10 people or so created and demanded that if you don't stake you will be penalized - on top of it's "asset" spinoffs!!
NXT's future is limited because its structure was created by people who have no concept of a simple, reasonable reality for the basic wallet holder/user.  NXT is for people with PHD's in computer science!"
Why the hell do coins need asset spinoffs?
Bitbay can simplify all that - and I don't need a PHd in computer science to understand it!!

Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers.

Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind.

On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run.

Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader.

However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!"

Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space).

[Gizfreak]

I fully subscribe to your opinion, especially this phrase

This space will only succeed if we all work together.

[silavon]

I fully subscribe to your opinion, especially this phrase

This space will only succeed if we all work together.

yes I agree  

[gefafwisp]

I fully subscribe to your opinion, especially this phrase

This space will only succeed if we all work together.

yes I agree  

I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea).

[Fielding]

That's so great.

Thanks for the hard work.

A decentralized market place is great.

[interstellar2future]

Any future update from BitBay decentralized marketplace?

what's the difference with that OpenBazaar?

Thank you very much!

How OpenBazaar is Using Bitcoin to Build a Decentralized eBay

http://www.coindesk.com/openbazaar-bitcoin-build-decentralised-ebay/

What began as an award-winning concept for a peer-to-peer (P2P) marketplace could turn into a revolution in e-commerce.

OpenBazaar is set to take the stage at this weekend's Bitcoin in the Beltway conference, a Washington, DC-based event that will bring together digital currency leaders and thinkers including Charlie Shrem and Vitalik Buterin. There, project maintainer Brian Hoffman will lead a discussion on the much-hyped decentralized market project.

[3r197]

Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers.

Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind.

On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run.

Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader.

However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!"

Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space).

You are right. I wish them all the best.

And as you were stating... It's already happening ->  https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

Granted this has already happened in the past on a smaller scale and failed: http://cryptome.org/jya/digicrash.htm

I think this news will actually work in favor for decentralized coins. They (IBM and Feds) have an "unlimited" (joke) cash resource available to market the system to everybody, and as more people get involved, the sooner the "viral" breach hits. The new users will wake up to the incentive behind the decentralized systems already in existence.
I can't wait to see the day when the Fed reserve (yet again) decides to print out 1 trillion more fake dollars or digital cash and watch the price skyrocket on the decentralized coins.
Heck, who knows, maybe one day cryptocurrency will eventually force governments to actually run efficient for once.

 

[digicidal]

I fully subscribe to your opinion, especially this phrase

This space will only succeed if we all work together.

yes I agree 

I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea).

I would disagree with that statement.  Especially in an opensource environment often 'first' is the only thing you can ever really claim... because 10 minutes later 'only' isn't true any longer.  Not to mention that a huge amount of the argument for BTC in the first place is that very reason - despite thousands of alt-coins.

The important thing is not to use leverage or deceit to be able to hold on to 'only'... because that is much more destructive to progress than a thousand people all screaming 'first' at the same time.

JMHO of course.

[dzimbeck]

Any future update from BitBay decentralized marketplace?

what's the difference with that OpenBazaar?

Thank you very much!

How OpenBazaar is Using Bitcoin to Build a Decentralized eBay

http://www.coindesk.com/openbazaar-bitcoin-build-decentralised-ebay/

What began as an award-winning concept for a peer-to-peer (P2P) marketplace could turn into a revolution in e-commerce.

OpenBazaar is set to take the stage at this weekend's Bitcoin in the Beltway conference, a Washington, DC-based event that will bring together digital currency leaders and thinkers including Charlie Shrem and Vitalik Buterin. There, project maintainer Brian Hoffman will lead a discussion on the much-hyped decentralized market project.

Well, I have met the OB guys they seem really nice. Also I read through OBs stuff and it seems like people set up their own little markets and use a direct ip/torrent system. I would like to be corrected if im wrong on that, i was not able to find so much resources explaining how they decentralize

The way Halo does is definitely 100% decentralized. First of all, your public key is used as your identity so you cant lie to the market. Everyone records what they see as an internal reputation system. The decentralized markets are built on modified Bitmessage channels. This allows for serverless markets. Also, bloat isnt an issue since there is no blockchain in Bitmessage. Instead nodes share messages that they store for 48 hours. Private markets can be created. Its completely anonymous however there is two moderation keys giving us the ability to keep the markets clean. A sort of "decentralized moderation"

OB goes to a lot of conferences. I used to do that with Halo but realized i would rather be building things than marketing. The product will market itself by being awesome.  

[dzimbeck]

Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers.

Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind.

On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run.

Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader.

However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!"

Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space).

You are right. I wish them all the best.

And as you were stating... It's already happening ->  https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

Granted this has already happened in the past on a smaller scale and failed: http://cryptome.org/jya/digicrash.htm

I think this news will actually work in favor for decentralized coins. They (IBM and Feds) have an "unlimited" (joke) cash resource available to market the system to everybody, and as more people get involved, the sooner the "viral" breach hits. The new users will wake up to the incentive behind the decentralized systems already in existence.
I can't wait to see the day when the Fed reserve (yet again) decides to print out 1 trillion more fake dollars or digital cash and watch the price skyrocket on the decentralized coins.
Heck, who knows, maybe one day cryptocurrency will eventually force governments to actually run efficient for once.

 

The fed prints way more than 1 trillion from the infinite nothingness. You should see some of the chilling youtube videos about money coming from thin air. Bernake and Greenspan etc would always pull 9-10 trillion a year from thin air for black projects. Military overspends at least 90% on their budgets to disguise embezzlement and black budget projects. They have infinite money and would make Bill Gates look like a welfare recipient.

Money doesnt exist, its a belief.

[dzimbeck]

I fully subscribe to your opinion, especially this phrase

This space will only succeed if we all work together.

yes I agree 

I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea).

I would disagree with that statement.  Especially in an opensource environment often 'first' is the only thing you can ever really claim... because 10 minutes later 'only' isn't true any longer.  Not to mention that a huge amount of the argument for BTC in the first place is that very reason - despite thousands of alt-coins.

The important thing is not to use leverage or deceit to be able to hold on to 'only'... because that is much more destructive to progress than a thousand people all screaming 'first' at the same time.

JMHO of course.

Yeah im not clammoring to say ive got the first public markets. There is a couple others in the space already either in alpha or perhaps beta. Even if we were the first its so close to say that its moot point.

Regardless, its awesome and exciting. We have bad-ass decentralized markets! And best of all, our tests showed no bugs. I will get a public release available once we get an updated landing page or at least within a few days.

[dzimbeck]

Oh, i almost forgot the most important point about Open Bazaar vs BitBay/Halo.

Open Bazaar uses arbiters and that simply does not work. Because an arbiter would have a key to the transaction, they could easily collude with themselves
to take bitcoins. Even more dangerous is the arbiters are simply bitcoin addresses and totally anon. If they choose to be the arbiters themselves then OB only serves as centralized escrow and therefore is definitely not decentralized markets. Also, arbiters cant prove who is lying during a dispute and are no more useful than closing your eyes and randomly picking a winner. Or, you would need a very biased policy like ebay. However, OB is more dangerous because unlike ebay, they can actually collude with themselves and take their own escrows. OB did express some interest in the Halo escrows once we open source however they are also defensive of their model. Im not exactly sure why though, after all centralization/3rd parties is exactly what we are trying to avoid so why use arbiters? I would be more than happy to show them how to do these escrows because i believe in smart contracts and double deposit escrow. Perhaps when we are all not so busy.


Bitbay and BitHalo/BlackHalo don't use any of this. Instead of course, they use unbreakable smart contracts. Two party escrow. And because its a smart contract we can completely automate the entire buying process. Additionally, its not limited to sale of goods but can also perform barter and decentralized exchange as well as cash wires which OB definitely cant do. So the fact that there is a smart contracting system integrated into it makes it truly decentralized. 

[dzimbeck]

Just trying to remember .. you did mention that Darkcoin will also be accepted by the Decentralized Marketplace you are creating .. correct?

I said that? haha. Well I was planning on giving Dogecoin a Halo. However, the decentralized exchange NightTrader will support at least Doge and Dark. I have thought about giving an anon coin a Halo so i considered byte, dark, monero and shadow. But in not certain who has the best anon. I thought the best anon was monero(?), correct me if im wrong.

Giving out Halo software there was a bit of a waiting list. A lot of coins would ask for it but that was months ago and my license fee was pretty high. The license fee can and will be lowered after the release of NightTraders decentralized exchange(but not necessarily for full halo software). Nonetheless, the fee to get on that exchange will be different from the ones who get Halos.

So to clarify, Doge was the first in line to be considered for a full marketplace and Halo. DRK and Doge is being considered for NightTrader pairings. I've discussed privately the possibility for DRK as a Halo however their distribution was a concern and there is debate over who has the best anon functions, but its still on my mind. Actually, Halo is much more anon because the trades on Halo/NightTrader arent linked (entirely different blockchains). Other than that no other coins were considered. Most likely, any coins that want a spot on the decentralized exchange should contact me to get on the waiting list. there may be a fee because it requires a lot of work to change their source code and build it to make it so Halo can run it because Halo uses a special branch of Bitcoin called "watchonly". That fee will be set in stone later after the NightTrader exchange is complete.

[gitbknowsall]

pump is currently happening on bittrex. Now is possibly the best time to sell. I'm up 19 btc.

p.s. multigateway transfers via the supernet client are very nic, maybe try integrating trades there as well for bitbay.