Gemini now supports ether trading!
This is great news for altcoins - especially programmable smart contract altcoins!
Yeah interesting... they seem to be hype magnets. However, the media should really not put all their faith in one protocol. They are sidelining Bitcoin in some ways, consider that Bitcoin can do smart contracts using BitHalo as well. Etherium is not tested as secure yet.
I'd rather they added bitbay than either of the other two mentioned
Also David can I ask are you 100% confident that Bitbay is going about things in a better way than syscoin?? I mean from what little I can understand it certainly seems Bitbay is going to scale better and not require 10000tb hard drives to hold the blockchain etc.
I keep seeing sys vs bitbay debates. There is one running on the main forum now. As yet the sys devs have not shown up but I'm sure they will given time. I guess no need to up the anti yet but there is only so long bitbay can remain passive in the face of copycats claiming superiority especially if that is not justified. I like both projects but really if bitbay is clearly superior this should become common knowledge to people at some point.
As you know I support other developers in their quest, its hard work!!
With that said, I don't think I've been shy to say that double deposit escrow is a absolutely superior technology in every way shape and form!!
Not to mention, this software is 50k lines of totally original code and 2 years in the making.
There is also many more features like automated joint accounts, live translations, templates, price tracking bots, live price feeds, counter-offer systems, accounting, change management systems, p2m, imap and bitmessage, steganography, advanced sending, reputation system, etc. Dude the list is so long I probably forgot most of the things it does under the hood.
The contracts aren't blockchain based so it doesn't add to the stress on the payment protocol. People need to remember that Bitcoin is a payment protocol FIRST not second!
So it is in my opinion a horrible idea to conflate. Adding things to the blockchain that belong as separate protocols especially since contracts can and should be done peer to peer. Why force the whole blockchain to know you are selling your 1950s coin collection?! They don't care and it doesnt effect the outcome of the payment in the slightest.
Do we really need to notarize everything? No! We notarize houses, yachts, stocks, things of great value.
Now I'm not entirely sure about the full details of sys and its blockchain, I know they use links to images so thats good. But still links should not be on a blockchain either.
However I hope the increasing of 6a is a temporary solution and that there is a long term plan to not make the markets blockchain based. I see this as a "convenient place to communicate". But just because its convenient doesn't mean its the correct way to do things. We discussed bloat recently, it was interesting to hear some of his methods of attempting to tackle the issue.
The thing of it is, Bitcoin already has a bloat problem... which has yet to be solved.
Bitcoin is a payment system, a bank. Its not a place to store everything.
My software was around before Etherium was even announced!! That shows you how long I've been working on this. It is completely unfair to compare seasoned software with new software.
I think the media has totally censored Halo in Lieu of Etherium which has been so much hype. They are a money vacuum, sucking up funds and resources. The media puts all their eggs in one basket forgetting that there is other ways to manage a blockchain. Blockchains arent powered by unicorns and rainbows... Etherium has scaling issues that go complete ignored. They may solve it, but even if they do, double deposit will always have scope well beyond "decentralized markets". It permeates all agreement and in my opinion deserves much more attention.
You can do double deposit on any coin, this software was designed to accommodate that without lock times.
Of course the media may end up censoring Halo anyways because it cuts out middle men. And they are the middle men.
By the way, I realize that entertaining "comparisons" of protocols is just asking for a debate. I'm not interested in criticizing other projects including Ethereum. They probably do great things there.
The reason we have the tech we do in Bitbay is because I believe its the best way. And of course its still the only smart contracting software in the world. Can you name another smart contracting software?
Anyways, all these coins especially Sys, have my full respect. Even Eth. Their work is hard... people seem to be thinking this is a competition. I'm not here competing with other coins. I'm just making the tech that I know in my heart is the best. I've never seen this as a competition, but a tech breeding ground. We can't force people to use it, but if we market it hard enough they will use it.
You should also remember I came to this party for double deposit. Thats why I got into crypto. That hasn't changed. Of course double deposit is the best way to do things. How many people have stopped to think about how backwards the legal system really is? We are literally living in a giant asylum. Double deposit could change that, bring people back to the hand shake deal.
This software BitHalo BlackHalo BitBay should have been on the damn cover of Forbes! It should be in Times magazine. But you have to realize the media is the gatekeepers and technology that seeks to eliminate middle men won't necessarily get the warmest reception.
Regardless, Bitbay increases your profit margins since you pay no fees to escrow. So the only thing lacking is media attention. And i think its naive to base faith in the technology of something just because it pumps or not.
Does Dogecoin have better technology than Bitbay? Just sayin...
