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Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 541847 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (2 posts by 1+ user deleted.)
Gabriel.S
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March 16, 2015, 05:54:53 AM
 #1021

Can you please elaborate on when the marketplace will also be released for BlackCoin? That's where me and my partners have been following your work and invested into BlackCoin, we are now awaiting that release. Thank you.

https://bitcointalk.org/index.php?topic=469640.msg10685736#msg10685736

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March 16, 2015, 06:43:09 AM
Last edit: March 16, 2015, 09:24:23 AM by dzimbeck
 #1022

Can you please elaborate on when the marketplace will also be released for BlackCoin? That's where me and my partners have been following your work and invested into BlackCoin, we are now awaiting that release. Thank you.

https://bitcointalk.org/index.php?topic=469640.msg10685736#msg10685736


Gabriel, if you really followed us in Blackcoin then you would know the markets are available in BlackHalo already. If you look at my recent post in reddit you would know that. Both BitBay and BlackHalo have been testing to make sure both Mac and Linux are working.

You know that i frequently mention BC on here so im not sure why you dont contact me on reddit. I'm always available there. This is the post where I told BC markets were available.
http://www.reddit.com/r/blackcoin/comments/2ywcc3/blackhalo_markets_and_feedback/

You can get those links if you PM me

I will make them publically available in a couple days once we update BitHalo.org and BlackHalo.info. Edit: there was a request by some people in the Blackcoin community telling me to wait a few weeks until i finish the user friendly templates.
dzimbeck
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March 16, 2015, 06:51:43 AM
 #1023



Cool .. Well the current scenario looks like this.
Darkcoin is being rebranded to DASH(Digital Cash). So that it would reach a wider audience. However the anonymity features are as is. They have also developed IntantX for trust-less transactions.
Monero is holding its own. However it looks like a lot of Monero bag holders are trying to fud and troll the Darkcoin thread simply because its being re-branded. (I am not following monero, so I would not know what their roadmap is)

Why would they rebrand? Darkcoin is a fine name. They should focus on what they do best, being anon and innovative imho.

In theory DRK isnt trustless because you can still track the blockchain mixer by watching the outputs. I think it would be fairly easy to write a script to reverse it. Hell, if they really wanted anon, they should try zero knowledge proof. Thats like the holy grail. I know Shadow tried it but i dont think they succeeded but i could be wrong. Monero shouldnt fud DRK, they are using totally different approaches to anon.

Anyways, hopefully i can extend more Halo software. The thing is, I like to give out software and give the coin that I extend it to something unique. Something that is their own. For example, Blackcoin has NightTrader exchange. BitBay has pegging. Dogecoin would have a custom "WOW" client and I've got a few cool ideas for something unique to give them. So yeah, if I was going to give DRK something I would want to distinguish it from what we do here.
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March 16, 2015, 12:07:55 PM
 #1024

Is there an official bootstrap file to quickly grab the blockchain for BAY?
dzimbeck
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March 16, 2015, 12:46:10 PM
 #1025

Is there an official bootstrap file to quickly grab the blockchain for BAY?
I've checked and am unable to find one. If you find one let me know. Perhaps i can upload one to my server.
Kevinrasf
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March 16, 2015, 12:48:39 PM
 #1026

Is there an official bootstrap file to quickly grab the blockchain for BAY?
I've checked and am unable to find one. If you find one let me know. Perhaps i can upload one to my server.

I dont think there isnt anyone who uploaded this.

But for now the Chain loads quite fast, but in the future it would come in handy to have an fast downloadable BC.

www.heathenmead.com voor Honingwijnen en meer. betaal met Bitcoin.
solid12345
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March 16, 2015, 01:15:40 PM
 #1027

As a former ebay seller the dawn of decentralized markets is exciting. I am still curious whether the pegging can work or not though, the idea of buying a million coins for a few hundred dollars and becoming a millionaire overnight seems impossible, but then again Bitcoin proved anything is possible.
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March 16, 2015, 01:23:09 PM
 #1028

As a former ebay seller the dawn of decentralized markets is exciting. I am still curious whether the pegging can work or not though, the idea of buying a million coins for a few hundred dollars and becoming a millionaire overnight seems impossible, but then again Bitcoin proved anything is possible.

NuBits already achieved and proved pegging can be done.

We will do so too.

And yes Bitcoin made many people rich in a couple of days so any coin with potential could do so again.

www.heathenmead.com voor Honingwijnen en meer. betaal met Bitcoin.
dzimbeck
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March 16, 2015, 03:30:13 PM
 #1029

As a former ebay seller the dawn of decentralized markets is exciting. I am still curious whether the pegging can work or not though, the idea of buying a million coins for a few hundred dollars and becoming a millionaire overnight seems impossible, but then again Bitcoin proved anything is possible.

Its actually perfectly simple, Bitcoin is not actually deflationary. it introduces about 10% extra coins per year. Most POS are inflationary.

However, the theory here is, we have inflation and deflation and the people who hold bitbay work as a decentralized reserve. They can spend a percentage of their coins based on inflation and deflation rates. Thus in theory, we could deflate the billion coins 99.9999% and have only 1 coin liquid and peg the coin to $1 with $1. So basically with decentralized control of supply we can always match volume and demand.
coin43.com
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March 16, 2015, 04:51:53 PM
 #1030

New BitBay faucet

faucet.coin43.com/bitbay

1 - 2 BAY every 30 minutes

pls support faucet and consider donating, direct faucet wallet address available on website
ShiftyTripster
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March 16, 2015, 06:16:38 PM
 #1031

New BitBay faucet

faucet.coin43.com/bitbay

1 - 2 BAY every 30 minutes

pls support faucet and consider donating, direct faucet wallet address available on website
nice work!
shaan.is.one
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March 16, 2015, 06:36:57 PM
 #1032

anyone have with me as they told for update Wallet..? Smiley
coin43.com
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March 16, 2015, 08:49:45 PM
 #1033

New BitBay faucet

faucet.coin43.com/bitbay

1 - 2 BAY every 30 minutes

pls support faucet and consider donating, direct faucet wallet address available on website
nice work!
thanks, share & like please Smiley
dzimbeck
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March 16, 2015, 09:12:09 PM
 #1034

New BitBay faucet

faucet.coin43.com/bitbay

1 - 2 BAY every 30 minutes

pls support faucet and consider donating, direct faucet wallet address available on website

Thanks! Saved the link.
illodin
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March 16, 2015, 09:38:00 PM
 #1035

Wrt transaction times, if I would want to buy DOGE using BTC, and having BLK as collateral, wouldn't the slow BTC confirmations still dictate the swiftness of the trade no matter how fast BLK confirms? i.e. the smart contract would release the collateral only after BTC has gotten its first confirmation (or however many confirms the users have configured)?


In theory DRK isnt trustless because you can still track the blockchain mixer by watching the outputs. I think it would be fairly easy to write a script to reverse it.

If it was that easy, it would've already been done. Believe me, people are trying. It's a whole lot more complicated than a mixer which you can observe, but it's off-topic anyway and too large of a subject to cover here.


Hell, if they really wanted anon, they should try zero knowledge proof. Thats like the holy grail.

It's proven to be hard (impossible?) to set up trustlessly (to prove no more coins can be created out of thin air by those who create the setup parameters) and/or without the proofs getting huge and crippling the performance and scalability.
dzimbeck
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March 16, 2015, 11:28:59 PM
 #1036

Wrt transaction times, if I would want to buy DOGE using BTC, and having BLK as collateral, wouldn't the slow BTC confirmations still dictate the swiftness of the trade no matter how fast BLK confirms? i.e. the smart contract would release the collateral only after BTC has gotten its first confirmation (or however many confirms the users have configured)?


In theory DRK isnt trustless because you can still track the blockchain mixer by watching the outputs. I think it would be fairly easy to write a script to reverse it.

If it was that easy, it would've already been done. Believe me, people are trying. It's a whole lot more complicated than a mixer which you can observe, but it's off-topic anyway and too large of a subject to cover here.


Hell, if they really wanted anon, they should try zero knowledge proof. Thats like the holy grail.

It's proven to be hard (impossible?) to set up trustlessly (to prove no more coins can be created out of thin air by those who create the setup parameters) and/or without the proofs getting huge and crippling the performance and scalability.

You point about Doge/BTC in a contract secure by BLK is 100% accurate. Doge is slowed down because it had to wait for the slow Bitcoin confirmations. Sadly, there is no way around this. However, i think we can use give the users an option to use a 3rd party service that checks Bitcoin mempools to have faster Bitcoin confirmations (this can be if both parties have agreed to it). That only works on Bitcoin because Bitcoin is very centralized.

Regardless, if you trade Node/Doge then the Node confirmations would be instant and they would have to wait for Doge. However, NightTrader does everything for you automatically! It loads all 3 wallets, it watches for all the transactions and it automatically fulfills the contract. So as long as you leave your client running, your trade should normally take no more than an hour(depending on how many transactions). IF for example you chose to trade 1 BTC for 1 BTC of Doge under a BlackHalo NT contract, we have to know how many transactions it needed to fund. Lets say it funds .1 btc at a time. So the BC contract would create a .2btc deposit contract and trade .1 10 times. So it would take about an hour.

However, if you traded BitBay for BC under the same contract it would take 10 minutes. So faster currencies would fund really quick in NT. And besides it is worth it, decentralized exchange with no trading fees and no middle coin!



You may be right about DRK coin mixer. Even Tor had security issues though so we know that security will always need improvement. As for Zero Knowledge proof, your point about "impossible to set up the network" is true for non-interactive proofs such as Zk-Snarks. For interactive proofs, then that trust issue isnt required. To make it "non-interactive" trust is required for the person who set up the network, they would know the secret and could take advantage of that knowledge. Additionally, interactive proofs would eat up a lot of bandwidth and processing time. Zk-Snark is much lighter in weight.

Actually, the bigger challenge with zero is simply figuring out a protocol!! Think of how many questions need to be asked to generate a proof. Aka "Is it a wallet on the network?", "Yes", "Are there coins in it?". "Yes"... and so on for each programming step you want to hide. Its intense. However, I do think it CAN be done and done efficiently. Unfortunately, i dont have the time to work on zero.


The best ANON is still in Halo/NT because when I send you DRK(especially with the mixer) and you send me BTC there is absolutely no way to prove that was done because its two totally unrelated networks. There is no link from A to B and because no exchange was used its not possible to know the users who performed that trade. At best, you would need to collect data from the Markets to somehow try and solve who was trading at that specific time (but actually, the same attack can be used on interactive zero).
Mig-23
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March 17, 2015, 03:24:36 AM
 #1037

too many bitbay threads
which the correct,..
confused  Huh Huh Huh
DeezCoinz
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March 17, 2015, 03:40:37 AM
 #1038

As a former ebay seller the dawn of decentralized markets is exciting. I am still curious whether the pegging can work or not though, the idea of buying a million coins for a few hundred dollars and becoming a millionaire overnight seems impossible, but then again Bitcoin proved anything is possible.

It's probably improbable. From what I've gathered, the peg would start at .01 USD. The price would be maintained by controlling the supply by freezing 90+% of the coins that are held in wallets. Controlling the supply is how central banks maintain pegs in countries whose currency is pegged to another, more stable currency.
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March 17, 2015, 03:46:59 AM
 #1039


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.

So, if I found a way to scam the system, I couldn't scam someone, delete my key, make a new one and be a new user ready to scam someone else?
dzimbeck
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March 17, 2015, 06:09:27 AM
 #1040

too many bitbay threads
which the correct,..
confused  Huh Huh Huh

This one and only this one.
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