BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[sidhujag]

Hello!
Excuse me if this was mentioned before, but what if make DDE optional?
The point is if I myself want to buy small cheap thing I don't care much about loosing my 2 dollars and I'll be satisfied seeing seller's good reputation. And some people in some countries buy a lot of such cheap things at once from different chinese sellers, so using dde will take unneeded efforts (just annoying duty) and money.

dde doesnt require effort though, when you use the templates all of the game theory is handled by the client based on the type of business you are doing. Most people have enough to cover deposits for their volume

If he is buying tons of things from Chinese sellers will he need to tie up collateral based on the DDE requirements (create demand for BAY) because of this? This is assuming listing requires DDE or is that optional if the buyer wants to pay with DDE and thus cover himself in the event of a bad vendor, or doesn't want to pay if he feels he is sufficiently covered by reputation?

[dzimbeck]

Hello!
Excuse me if this was mentioned before, but what if make DDE optional?
The point is if I myself want to buy small cheap thing I don't care much about loosing my 2 dollars and I'll be satisfied seeing seller's good reputation. And some people in some countries buy a lot of such cheap things at once from different chinese sellers, so using dde will take unneeded efforts (just annoying duty) and money.

dde doesnt require effort though, when you use the templates all of the game theory is handled by the client based on the type of business you are doing. Most people have enough to cover deposits for their volume

If he is buying tons of things from Chinese sellers will he need to tie up collateral based on the DDE requirements (create demand for BAY) because of this? This is assuming listing requires DDE or is that optional if the buyer wants to pay with DDE and thus cover himself in the event of a bad vendor, or doesn't want to pay if he feels he is sufficiently covered by reputation?

Yeah you are correct, if he is a buying a lot or selling alot. But look at it this way. If you sell 10 items per day then you are probably making very good money, If each item nets you 100 dollars, and turn around time for your deposits is daily, you only need 100-1000 dollars tied up at once. Which is okay. If you make 1000 per week, its reasonable to think you had 1000 to insure your business.

Think of it like free business insurance.

I should mention, you should read Halos documentation. The part about the "change management" system. Its breaks up the outputs to denominations for buyers and vendors who want to do large volumes.

So it breaks it up 1 5 10 50 100 500 1000 etc...
This allows you to do many contracts at once with multiple denominations.


So actually I think the custom deposits is more of a concern with low volume sellers, not high volume. Because someone new to the markets will have to take a guarantor contract in order to buy their "first coins". Or if they are not making a lot of money either, they are more poor, coming up with a deposit might be a little bit harder.

The same is true for pegging. Because a person who is always tight on funds will have subpremium liquidity(set to freeze faster) since they will spend any funds that were frozen almost immediately.

[albert_mt]

great to see the technical discussion and bitbay is moving forward!  thanks dzimbeck for your effort!

[dmz241]

Havent been around. I think what you are doing is amazing I am still holding onto my bay is there a raspbian client for bay I have a pi laying around if someone can help me I can boot it up with bay wallet on it.... but its the older pi the 800mhz one.

[dzimbeck]

Havent been around. I think what you are doing is amazing I am still holding onto my bay is there a raspbian client for bay I have a pi laying around if someone can help me I can boot it up with bay wallet on it.... but its the older pi the 800mhz one.

Thanks, there is only the qt and markets client but yeah would be nice to have a pi tutorial. Ive never used one, but i think they would be useful for cold staking also.

[toknormal]

I can't get into my account on BTER cos they've got this new 2nd login page which looks like it's supposed to send you a kind of 2FA code by email, but I don't receive any email when I login (from the main page) so I don't have a code to enter.

I haven't logged in since they added that.

Anybody know how exactly that's supposed to work ?

******* EDIT [1] *********

Please ignore.

Tried again today and it works. I was thinking about moving my Bitbay to a cold wallet since it's been on BTER since the IPO (and all thorough the BTER hack etc). Is QT for Mac ok for this purpose ?

******* EDIT [2] *********

Hey - nice installer ! Things starting to look professional. Is there any advance on the market client for Mac since a year ago (the one that always crashed) ?

******* EDIT [3] *********

Nice client as well !

************************

listaddressgroupings doesn't seem to list anything in my console. Is that because I'm not sync'd ? Is there a boot download of the blockchain anywhere ?

Thanks !

(P.S. the download link for marketclient Mac in the OP seems broken).

[toknormal]

Ok - sorted. I think listaddressgroupings only lists stuff with balances.

dumpprivkey worked for the empty addresses which is what I wanted anyway. Blockchain 75% downloaded after about 9 hours.

[toknormal]

Have you heard of this new, quick and easy, type of investment?

I remember those from the seventees.

[dzimbeck]

Ok - sorted. I think listaddressgroupings only lists stuff with balances.

dumpprivkey worked for the empty addresses which is what I wanted anyway. Blockchain 75% downloaded after about 9 hours.

Well, dumpprivkey is useful for spending from an old wallet.

Anyways, the MAC client is currently disabled until I have them updated. Ive been coding updates to the MAC and Linux client to make them more compatible with more versions.

[dzimbeck]

Ok .. let me see .. last time something was promised was way back in DEC 2014. No shit has happened till now.

What exactly are you talking about? 

[toknormal]

Well, dumpprivkey is useful for spending from an old wallet.

I use it for making paper wallets.

[neo1947]

Ok .. let me see .. last time something was promised was way back in DEC 2014. No shit has happened till now.

why you following this forum then?

[cryptohunter2]

It would be great to get this listed on btc38 -  i wonder how we could go about this?

[dzimbeck]

Ok .. let me see .. last time something was promised was way back in DEC 2014. No shit has happened till now.

Well i dont think you were talking about BitBay but if you were here are the things that have happened since last year.

Completely new user interface, detailed panels for history.
Advanced payments such as joint accounts, automated joint accounts fully automated and complete
Pay to email with steganography (coins hidden in images) completed
Partial refactor of the Halo source, massive improvements to core
Email and Bitmessage stability greatly improved, no more lost messages, support added for different email encoding
DECENTRALIZED MARKETS released, first coin/software in the world to have them.(including Bithalo and Blackhalo)
Installation wizard made, multiple user friendly features
Many small user friendly features, reminders and hints integrated seemlessly
More improvements made to decentralized markets
Reputation system added, fully trustless checking of contracts and their success rate
Database management improved tremendously, (some) issues with memory and automated backup improved
Fixed a lot of random things
Major improvements to contracts such as time of agreement, modifications to negotiation
Fee calculation improved per kilobyte for large transactoin
Many scalability features added to source
TRANSLATIONS to 92 languages, autotranslator added to code with a User Interface for improving those translations(via google translate)
As above, entire UI adjusted to morph with translations AND UI changed to morph with coin switching
Entire User Interface developed for TEMPLATES
First Template "Cash for coins" made, massive update
Cash for coins included with TRUSTLESS price tracker, negotiation and verification of any market fluctuations
Full communication of price alterations between clients
Improved Custom contracts user interface
Automatic acceptance made with better contract verification totally immune to hacking
Contract hashes verified, hashing function made for unordered json dictionaries
Other exotic contracts and bitcoin scripting tested, functions added in back end for later use
Basics of "cold staking" multisignature staking added, was waiting for POS 3.0 to implement
Personally FIXED Qt client that was not properly forked and recompiled daemon
Wrote scripts for getting staked multisig coins out of Qt wallet if mixed
Released MAC and Linux versions of Halo for the first time(working on 75% of systems), however later withheld to enhance compatibility
Released obfuscated source
Full markets UI, improvements for wallets such as steganography for keys
Offer/Counter-Offer system massively enhanced including for autoaccept and backwards compatible with old counteroffer system

Other:
New graphics for UI as requested
Better organization on slack
Slack group ran multiple events, promotions, givaways too many to list
new logo designed social media improved
met multiple slack members in person
customer support for many different people
Fawcet made thanks to slack
Massive modifications to the pegging protocol (proposal) thanks to good advice on slack
Brand new website
Lots of promotional materials made
Several articles mentioning bay (a nice improvement from previous PR)
New OP with really nice graphics made for it
And even stickers, and t-shirts were made


I highly doubt you were talking about this coin. And thats the short list.
There was also changes to BitHalo and BlackHalo. They both have new sites, more articles etc. And I had several
months of down time from moving. This also excludes any networking done and side projects and personal stuff of course. The changelog in Bitbay has more technical details too, there is currently a list of things im working on.

I would like to say THANK YOU to everyone who is still here supporting this project and thanks for your patience. We have accomplished more in one year than entire teams accomplish in 3. Its not a sprint, its a marathon. And once this is all done hopefully we can market it harder too. And the sooner i finish the sooner i can take on more work. So I'm looking forward to releasing more frequent updates this year.

[toknormal]

Bitbay starting to look undervalued.

I have nearly got my full node up and running. 61k blocks remaining.

Brand new website

Hadn't seen that. Looks cool !

[dzimbeck]

Bitbay starting to look undervalued.

I have nearly got my full node up and running. 61k blocks remaining.

Brand new website

Hadn't seen that. Looks cool !

We all think it is, actions will speak louder than words soon. I've got faith that the coins with real utility will have to rise above the ones that don't do anything eventually. Maybe now that crypto is getting more popular this will change. Also, the rest of the features should be finished this year.

[pugman]

we are still following you David. The pegging will be the game changer!

[illodin]

Which is the official source repository:

https://github.com/bitbayteam/bitbay
or
https://github.com/oxidian/BitBay

[Bankrunner]

What is the scale-ability of Bitbay and Blackcoin?? How many transactions can be handled per minute?

What happens to the dollar peg if the dollar hyper-inflates and the new global trade settlement standard becomes gold?? I expect this by 2020 and Probably a lot sooner. do you have time frame for when your are going to attempt a dollar peg?

[dzimbeck]

Which is the official source repository:

https://github.com/bitbayteam/bitbay
or
https://github.com/oxidian/BitBay

it should be oxidian, however, I'm going to update that to my github shortly, ive got better source since oxidians source is missing files... the qt wallet was poorly done, thats why you cant build the daemon from it.

We might fork early for staking to move entirely to the markets wallet but i need to test the new staking commands first.