BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[dzimbeck]

Any chance of cryptsy adding BAY?

I talked to Horus, he was supposed to meet our group and then he got busy with something else. But one thing we have to consider is, once pegging starts we will need to reform our exchange relationships. (they would have to have bay and bayreserve and use the daemon to calculate all their trades)

[silavon]

Hello everyone.
I want to thank David Zimbeck for his excellent work.
I do not understand
A few weeks prior to fixation and markets are almost zero.
 

[Kevinrasf]

Hello everyone.
I want to thank David Zimbeck for his excellent work.
I do not understand
A few weeks prior to fixation and markets are almost zero.
 

People want to see solid news, evidence of what we are creating here.

As soon as we come with solid material the markets will flourish again.


For now we can still get cheap coins below 100 sats.

[dzimbeck]

Hello everyone.
I want to thank David Zimbeck for his excellent work.
I do not understand
A few weeks prior to fixation and markets are almost zero.
 

Thanks for the support buddy. I'm coming out very soon with a new update. With the new templates orders will be able to stay longer on the markets (considering you remain connected) and you can track prices for fiat. This should encourage the markets in the client to populate.

I'm sure price wise people are only waiting for the news. Then others are waiting for pegging so they wont buy back in until later. So you know guys just hang tight, be patient we've got a lot of great updates prepared.

Also it should be noted that I'm trying to make larger updates instead of multiple small ones. This new update you will want to uninstall the markets client(not qt, that you can keep as is) and do a fresh install of the new markets client. The new one has an autoupdate link.

Large updates are better because im starting to make the software more commercial and i don't want people complaining about missing features.

We are about to test the first template on slack, its pretty exciting (buy/sell coins for cash) so that should happen shortly. I'm just testing those myself right now.

[silavon]

Thank you friends for answers.
I look forward to what comes.
Have a nice day. ♥

[dalefrench]

I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

[Kevinrasf]

I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

it will help the network if you stake.

And you will be able to mine some fees as well

[dzimbeck]

I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

Actually in an upcoming update you will be able to stake in the markets wallet which will allow you to stake from 2 locations. Security on a whole new level. And yes please stake. The rewards will probably be higher because there is less people staking. So its a huge bonus for people who have less coins, they will get a higher probability of finding blocks i think.

When i was testing the multisig staking i was shocked by how many blocks i was finding. Its one feature im very eager to get done.

And its good to be wary. People are not taking their financial security in bitcoin seriously enough. Most coins including bitcoin are very volative and people should always chose decentralized options over centralized ones. There is nothing in the markets wallet that relies on servers, nothing relies on anything but your own computer/node. Pure p2p.

[Penn.3D]

I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

Actually in an upcoming update you will be able to stake in the markets wallet which will allow you to stake from 2 locations. Security on a whole new level. And yes please stake. The rewards will probably be higher because there is less people staking. So its a huge bonus for people who have less coins, they will get a higher probability of finding blocks i think.

When i was testing the multisig staking i was shocked by how many blocks i was finding. Its one feature im very eager to get done.

And its good to be wary. People are not taking their financial security in bitcoin seriously enough. Most coins including bitcoin are very volative and people should always chose decentralized options over centralized ones. There is nothing in the markets wallet that relies on servers, nothing relies on anything but your own computer/node. Pure p2p.

We will be able to hold coins in Bittrex's wallet and stake at the same time? I've never heard of that before! Is that a first for crypto?

[dzimbeck]

I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

Actually in an upcoming update you will be able to stake in the markets wallet which will allow you to stake from 2 locations. Security on a whole new level. And yes please stake. The rewards will probably be higher because there is less people staking. So its a huge bonus for people who have less coins, they will get a higher probability of finding blocks i think.

When i was testing the multisig staking i was shocked by how many blocks i was finding. Its one feature im very eager to get done.

And its good to be wary. People are not taking their financial security in bitcoin seriously enough. Most coins including bitcoin are very volative and people should always chose decentralized options over centralized ones. There is nothing in the markets wallet that relies on servers, nothing relies on anything but your own computer/node. Pure p2p.

We will be able to hold coins in Bittrex's wallet and stake at the same time? I've never heard of that before! Is that a first for crypto?

Not in bittrex unfortunately. Exchanges don't use multisignature. But, when you keep coins off the exchange you can use two locations for staking and yes it certainly is a crypto first. Also, i definitely do not recommend keeping coins on exchanges. I lost like 3 btc on mintpal and 2 on bter and was lucky not to lose more. And im sure tons of people got wrecked at gox(.5 billion dollar theft).

So i think its best to just do your trades, withdraw immediately. Eventually Blackcoin will have a decentralized exchange using Halo (NightTrader) which is planned after template release.

[Bitcoinman777]

What's the stakerate everybody?

[samuele1984]

Hi David,

I have 3 200 000 BAY in bittrex , also me i have lost btc in mintpal and excoin , i want to withdraw my coin from bittrex but iam scared that if i download BAY wallet and later my pc is broken , then i will lose my bay..
Is it possible to download bay wallet and then to save it in usb stick with all my bay ?

[astrobitcoin]

i want to withdraw my coin from bittrex but iam scared that if i download BAY wallet and later my pc is broken , then i will lose my bay..
Is it possible to download bay wallet and then to save it in usb stick with all my bay ?

you just need to do a backup of the wallet and save that on a usb stick

with the backup you can restore the wallet anywhere and when you rescan the blockchain your balance is back

[3r197]

What's the stakerate everybody?

The stake rate is 1% annual interest. If you don't sell your stake for a year the compound interest equates to 1.01005% a year.

Feel free to check my math. http://www.wikihow.com/Calculate-Compound-Interest

[Bitcoinman777]

What's the stakerate everybody?

The stake rate is 1% annual interest. If you don't sell your stake for a year the compound interest equates to 1.01005% a year.

Feel free to check my math. http://www.wikihow.com/Calculate-Compound-Interest

Thank you. I did transfer some coins to another address, since they were locked. I suppose the year will start from the moment i transferred them or is the official date (4 months ago) used?

[samuele1984]

i want to withdraw my coin from bittrex but iam scared that if i download BAY wallet and later my pc is broken , then i will lose my bay..
Is it possible to download bay wallet and then to save it in usb stick with all my bay ?

you just need to do a backup of the wallet and save that on a usb stick

with the backup you can restore the wallet anywhere and when you rescan the blockchain your balance is back

Thanks mate !!

[Penn.3D]

What's the stakerate everybody?

The stake rate is 1% annual interest. If you don't sell your stake for a year the compound interest equates to 1.01005% a year.

Feel free to check my math. http://www.wikihow.com/Calculate-Compound-Interest

Thank you. I did transfer some coins to another address, since they were locked. I suppose the year will start from the moment i transferred them or is the official date (4 months ago) used?

There is no "start date." You figure out what you would get in a year and divide that by 365 and that's how many coins you will get per day.

[Bitcoinman777]

What's the stakerate everybody?

The stake rate is 1% annual interest. If you don't sell your stake for a year the compound interest equates to 1.01005% a year.

Feel free to check my math. http://www.wikihow.com/Calculate-Compound-Interest

Thank you. I did transfer some coins to another address, since they were locked. I suppose the year will start from the moment i transferred them or is the official date (4 months ago) used?

There is no "start date." You figure out what you would get in a year and divide that by 365 and that's how many coins you will get per day.

Sorry, but what you say makes no sense. As stated by 3r197 the compound interest for 1 year is 1.01005%.
In other words after 1 year you will get 0.0105% interest (extra). To achieve this, we need to have a startdate (so we can calcuate an enddate). Since on the enddate your compound interest would be paid.

Having said that.
I bought a 20 million bitbay a few months ago. (march/april). However when I tried to sent Bay from 1 wallet address to another address  (guess it would make more sence to hold everything in 1 address then 2). I got an error. By using coin control I was able to sent all mini transactions (over 2500) to my main address).
Situation
Address 1 3M
Address 2 2M
Combined  5M

So again, which date is used for the compound interest of the complete wallet
Buy date of 20M

Or
Buy date 3M
Last week (when I transferred it) 2M

[Mig-23]

i want to withdraw my coin from bittrex but iam scared that if i download BAY wallet and later my pc is broken , then i will lose my bay..
Is it possible to download bay wallet and then to save it in usb stick with all my bay ?

you just need to do a backup of the wallet and save that on a usb stick

with the backup you can restore the wallet anywhere and when you rescan the blockchain your balance is back

back up the wallet,save it to your pc
then you can upload that file in to one drive or google drive
i did like that

[Kevinrasf]

Dear Readers,




We drummed up another weekly news bulletin for you!

It was a rather quiet week so we don't have an entire shopping list


-   David is finishing up the first template for the client to be released to slack members to beta test.


-   The new website is in its final testing stages, we expect it to be up and running soon.


-   3r197, a member of our slack group, is preparing an article to be published by coingecko.com regarding the current decentralized marketplaces in development.
   As promised, he will keep the article completely unbiased.It will be up to you the readers to make your decisions after reading the article and hopefully
   join in on the comment section to debate with as much bias as you wish. Remember, competition is good as it helps innovate technology.
   Thanks to coingecko.com for allowing us the opportunity to provide this information.


-   Our slack channel is also getting a lot of new members, everyone is welcome so feel free to join us!
   If you want to join please send an E-mail to info@bitbay.market


Thank you for reading, have a nice weekend!