BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Munti]

on a different note i have just been on Cryptsy for the first time in 6 months and its unbelievable the lack of knowledge and immaturity there is over there. The people on the chat are just buying whats going up and for no other reason.  I start to ask questions about coins and all their replies are "just ride the wave" or "its going up, buy buy"! A few days of a few of us on there educating them and we could gain loads of buyers/users. of cause we need to get listed there first.

Good thinking, but how about applying that on C-Cex first? Would be good to have someone working the trollbox a little. Any volunteers? We could also use more sellers over there, so if anyone is planning to sell, please place some orders at C-Cex as well. When we are well established on C-Cex, we can start thinking about other exchanges. Of course when pegging starts that might influence what exchanges we can be on.

[Mig-23]

when market ready please provide the tutorial
how to buy, how to sell and also the rules

[rqdxrocket]

I know have my 3rd item listed on the market.  The 1st sold last week.

Are you ready for it? its an "audio y adapter"

I know everyone wants one of those.

Thanks

[sidhujag]

Is bitbay onchain or offchain? How is it different than openbazaar(off chain) and syscoin(on chain)?

The markets are definitely off chain. The way it works is it leverages Bitmessage channels with modified Bitmessage source. So nodes keep messages in their memory for 2 days. Every node tries to see if it can decrypt any message which basically makes it anonymous. Since you dont know who is decrypting what.
There is a header which requires POW. So unlike OB or other systems ddos or flooding is hard to do. And in theory, time locks can be used to circumvent pow altogether.

Also, correct me if im mistaken but we are the only markets to be in open beta. Templates will be coming soon. Performance could be speed up dramatically with some server nodes (so can tighter moderation).

I dont believe in bloating the blockchain and i think bitmessage chose the correct model for scalable serverless internet. Nodes can easily choose a network of nodes they trust, ports can be changed to subscribe to certain markets, network can route through Tor (and hopefully eventually i2p), and nodes can most likely even link adjacent networks. Reduce bloat at all costs and of course only download what you need to see. Of course i think more modifications can and should be done to Bitmessage. Blockchains are very unnecessary here, you cant download the internet.

Bitmessage natively will submit messages again if 2 days pass. Then follow by 4, 8 ,16 and so on. In Halo it might be prudent to make that more frequent while in escrow. Not sure yet, for now i tell people to use encrypted gmail accounts for increased speed during negotiations.

If you have an offer on the market do you have to keep connecting to ensure it stays alive? So hard to do offline payments this way? How do you link bitmessages to payments on chain some kind of memo id?

I believe most people chose the bitmessage route however another option is to prune the blockchain so that you essentially keep everything in one structure payments offers transactions etc..

Also one other thing.. How would you make it possible for someone like say overstock to say hey i want to use bitbay with all of my product offers.. Can i do that so i essentially decentralize my website? That is a powerful usecase enabled by blockchain approach

[dzimbeck]

Is bitbay onchain or offchain? How is it different than openbazaar(off chain) and syscoin(on chain)?

The markets are definitely off chain. The way it works is it leverages Bitmessage channels with modified Bitmessage source. So nodes keep messages in their memory for 2 days. Every node tries to see if it can decrypt any message which basically makes it anonymous. Since you dont know who is decrypting what.
There is a header which requires POW. So unlike OB or other systems ddos or flooding is hard to do. And in theory, time locks can be used to circumvent pow altogether.

Also, correct me if im mistaken but we are the only markets to be in open beta. Templates will be coming soon. Performance could be speed up dramatically with some server nodes (so can tighter moderation).

I dont believe in bloating the blockchain and i think bitmessage chose the correct model for scalable serverless internet. Nodes can easily choose a network of nodes they trust, ports can be changed to subscribe to certain markets, network can route through Tor (and hopefully eventually i2p), and nodes can most likely even link adjacent networks. Reduce bloat at all costs and of course only download what you need to see. Of course i think more modifications can and should be done to Bitmessage. Blockchains are very unnecessary here, you cant download the internet.

Bitmessage natively will submit messages again if 2 days pass. Then follow by 4, 8 ,16 and so on. In Halo it might be prudent to make that more frequent while in escrow. Not sure yet, for now i tell people to use encrypted gmail accounts for increased speed during negotiations.

If you have an offer on the market do you have to keep connecting to ensure it stays alive? So hard to do offline payments this way? How do you link bitmessages to payments on chain some kind of memo id?

I believe most people chose the bitmessage route however another option is to prune the blockchain so that you essentially keep everything in one structure payments offers transactions etc..

Also one other thing.. How would you make it possible for someone like say overstock to say hey i want to use bitbay with all of my product offers.. Can i do that so i essentially decentralize my website? That is a powerful usecase enabled by blockchain approach

Bitmessage does not need to link to payments on the chain unless i decide to replace their pow with time locks. If you have an offer on the market, you do not need to stay connected. However, once the offer is accepted, you should stay connected as much as possible since BitBay is P2P. Pruning the blockchain will not support markets. You cant do markets on the blockchain its way too much data. There are bandwidth limitations.

And yes, we have an Alibaba connection, im thinking of ways to host websites on there or allow vendors something special.

[hossy]

just want to congratulate david on all his hard work bitbay is going places and david and bitbay are now starting to get the recognition it deserves. Thanks for sticking with us david looking forward to the the future of decentralize markets and the pegging.

[silavon]

just want to congratulate david on all his hard work bitbay is going places and david and bitbay are now starting to get the recognition it deserves. Thanks for sticking with us david looking forward to the the future of decentralize markets and the pegging.

Yes... David Zimbeck is a great icon in the crypto world and has a great talent for innovation... ♥ 

[funsponge]

wish you guys would sell me your Bitbay! I'm taking the price to a new level due to your lack of selling ;-) Im surprised  others are not rushing to snap up Bitbay whilst its still cheap!

[Mig-23]

it would be nice If there is gaming website that accept bitbay

[deluxeCITY]

wish you guys would sell me your Bitbay! I'm taking the price to a new level due to your lack of selling ;-) Im surprised  others are not rushing to snap up Bitbay whilst its still cheap!

Have to be honest so am i, for the sake of a few satoshi i don't understand what is going on more people need to know the power of what Bitbay is now as i very much doubt they even know the new developments and completed "decentralized market" with pegging and lots of other stuff in the making, this coin should be at least 1000sat at present enjoy the cheap coin while you can!

[kevin1234a]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

[Munti]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

If you are using the old QT, I suggest you download the new one. The new one has the addresses for our servers coded into it.
If you are using the new one, or the beta client, you will have to wait for David. He's travelling now, so will not be online much for the coming days

[kevin1234a]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

If you are using the old QT, I suggest you download the new one. The new one has the addresses for our servers coded into it.
If you are using the new one, or the beta client, you will have to wait for David. He's travelling now, so will not be online much for the coming days

using v1.0.0.1-g assuming its a new one wondering if you can advc about the nodes to add in conf fiile might it will help, until David will respond

[Munti]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

If you are using the old QT, I suggest you download the new one. The new one has the addresses for our servers coded into it.
If you are using the new one, or the beta client, you will have to wait for David. He's travelling now, so will not be online much for the coming days

using v1.0.0.1-g assuming its a new one wondering if you can advc about the nodes to add in conf fiile might it will help, until David will respond

Then they are coded into your wallet. I don't have the addresses. Will have to ask bitbaydev to send them to you, but it's 2.30 in the morning for him now.
You can try this one: 81.35.33.46:19914 I'm connected to it atm

[Mig-23]

please provide gaming website
so we can use this coin for playing the game

[kevin1234a]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

If you are using the old QT, I suggest you download the new one. The new one has the addresses for our servers coded into it.
If you are using the new one, or the beta client, you will have to wait for David. He's travelling now, so will not be online much for the coming days

using v1.0.0.1-g assuming its a new one wondering if you can advc about the nodes to add in conf fiile might it will help, until David will respond

Then they are coded into your wallet. I don't have the addresses. Will have to ask bitbaydev to send them to you, but it's 2.30 in the morning for him now.
You can try this one: 81.35.33.46:19914 I'm connected to it atm

no luck mate will wait for dev thx though

[mrcashking]

please provide gaming website
so we can use this coin for playing the game

What kind of gaming website are you talking about? Why not just use the coin for the main purpose of it's creation to be the currency of a powerful decentralized market, if you really want to gamble which i assuming is what you want then just gamble with bitcoin.

[ShiftyTripster]

please provide gaming website
so we can use this coin for playing the game

What kind of gaming website are you talking about? Why not just use the coin for the main purpose of it's creation to be the currency of a powerful decentralized market, if you really want to gamble which i assuming is what you want then just gamble with bitcoin.

I guess Smart Contracts would be a great way to do sports bets... Just a thought.  I am a poker guy I dont bet on games but I think it would work well for that.

[Mig-23]

please provide gaming website
so we can use this coin for playing the game

What kind of gaming website are you talking about? Why not just use the coin for the main purpose of it's creation to be the currency of a powerful decentralized market, if you really want to gamble which i assuming is what you want then just gamble with bitcoin.

I guess Smart Contracts would be a great way to do sports bets... Just a thought.  I am a poker guy I dont bet on games but I think it would work well for that.

sports bet is nice idea
and also dice on blockchain 

[BitBaydev]

ok guys not sure why my wallet is not sync with network its up from last 24hrs did restart twice already, any suggestions

If you are using the old QT, I suggest you download the new one. The new one has the addresses for our servers coded into it.
If you are using the new one, or the beta client, you will have to wait for David. He's travelling now, so will not be online much for the coming days

using v1.0.0.1-g assuming its a new one wondering if you can advc about the nodes to add in conf fiile might it will help, until David will respond

Then they are coded into your wallet. I don't have the addresses. Will have to ask bitbaydev to send them to you, but it's 2.30 in the morning for him now.
You can try this one: 81.35.33.46:19914 I'm connected to it atm

no luck mate will wait for dev thx though

Hi Kevin,

Where did you source your wallet? Please make sure you are using the latest versions posted on the OP. Also, is it the PC or the Mac version?

Our node support network is now hardcoded into the QTs, so there should be no need for any config. Let us know re. the above and we will get it sorted.