BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[dzimbeck]

David's Back!!!! This is great news

Sounds like he never left, just took a few days off. Well deserved I should think.

I was moving, had to fly to Mexico City for a week to take care of some personal stuff, had to organize the new house and have been selling my trailer and stuff. There was a bunch of other things too. In order to keep my freedom and avoid 9-5 had to come up with a strategy to lower my expenses so I lost a month or so. I did some coding but it wasn't enough. I did code a really cool anti-keylogger password thing. It's badass. Say bye bye to screen recorder and loggers. Plus I fixed allof the bugs and sync problems so the software is really robust. I started hosting the nodes myself since I noticed the old ones were down.

Anyways I'm on the contract now lol my friend is managing me. I'm also doing one for him we have a list of habits to break... no eating out, hitting the gym daily etc. Stuff we are forced to do or lose our deposits. Most importantly many hours of coding daily.

I have to sign off on it daily applying for daily time extensions and report back how many lines of code I contributed and what the code was.

He's working on a different project related to construction. It's a spreadsheet with a cost breakdown of all the alternative building heating cooling methods for low cost decentralized housing. Such as 3d printed housing, Aircrete(Google it, it's amazing), Silo Homes, Earthbags and about 20 other awesome types of construction. Actually anyone who is interested in that can PM me especially if you have feedback on new techniques or want to see the sheet.

Anyways so I might force myself to report here every few days but for now I'm keeping the requirements realistic.

Ya know, what you are describing here as a contract with your friend could be a whole new use case for smart contracts (and BitBay). An entire eco-system could be set up around something like this, one-on-one fitness contracts, weight loss contracts, health maintenance contracts, child care, etc. Might want to think about it a bit more!

Yeah and so far it's working out well. The rules were 15 min of exercise, 10 min meditation, 10 min stretch, can only eat out once every two days and contribute at least 10 lines of code.

The goals are set modest, but that's the whole idea. I know someone who wants to use it for weight loss lol.

[LostLady]

Huge sell wall @110. This is the lowest price I've seen for 4399411 Bitbay! Usually, it would just be for penny amounts.

I bought some today at @107 sat right now. This is so amazing! I didn't think we could accumulate this much Bay at the moment!

https://bittrex.com/Market/Index?MarketName=BTC-BAY

Darn. My deposit is taking forever. I want to buy more, but I hope the Sell Wall @110 remains! This is truly an amazing deal!

How come the volume is so low for this coin. Am I the only one buying? Do people not realize the potential we have here?

[bitcoinking5]

The total buy orders are very low.Waiting for a chance to enter

[LostLady]

Do it now. I would say at least 1 million Bay would be a good starting point. Imagine if the peg reaches 0.10 per coin!

[LostLady]

Crap. Where did the sell order go? Prices are gonna rebound up...

[3r197]

Do it now. I would say at least 1 million Bay would be a good starting point. Imagine if the peg reaches 0.10 per coin!

Yeah well hopefully it will start getting more attention once exchanges realize they can safely cold stake their investors coins similar to the bonus rewards POW mining pools achieve.

[3r197]

Crap. Where did the sell order go? Prices are gonna rebound up...

He is still there. I track distribution accounts. He's currently #5 at 5.58 million
His deposit was 6.8 million. So he's sold almost 20% already.

[3r197]

Do it now. I would say at least 1 million Bay would be a good starting point. Imagine if the peg reaches 0.10 per coin!

Yeah well hopefully it will start getting more attention once exchanges realize they can safely cold stake their investors coins similar to the bonus rewards POW mining pools achieve.

And what's really cool is that it could create a new paradigm for exchanges. The exchange that provides the best stake reward, and security would gain the most coins to stake. BitBay could literally be backed by 3fa security.
An exchange that programmed their system to accept joint accounts with their investors would provide for the first time virtually unhackable accounts. The hacker would need to hack both the exchange and the individual investors computer system and find both keys to withdrawal on top of a typical 2fa deposit/withdrawal feature (google auth, sms text, email confirmation, etc.)

[3r197]

Do it now. I would say at least 1 million Bay would be a good starting point. Imagine if the peg reaches 0.10 per coin!

Yeah well hopefully it will start getting more attention once exchanges realize they can safely cold stake their investors coins similar to the bonus rewards POW mining pools achieve.

And what's really cool is that it could create a new paradigm for exchanges. The exchange that provides the best stake reward, and security would gain the most coins to stake. BitBay could literally be backed by 3fa security.
An exchange that programmed their system to accept joint accounts with their investors would provide for the first time virtually unhackable accounts. The hacker would need to hack both the exchange and the individual investors computer system and find both keys to withdrawal on top of a typical 2fa deposit/withdrawal feature (google auth, sms text, email confirmation, etc.)

So for example...
Imagine an exchange above has on average 75 million coins on their exchange and 50 million of them are owned by investors hoping to cash in on the extra benefits of a stake pool minting new coins. Since the network will never be able to stake all coins in circulation due to various reasons, this exchange would earn more than the typical %1 ROI coded into the protocol. For example again, lets say this particular exchange is averaging about %2.5 stake reward. The exchange could retain %0.5 for themselves and the investor %2.0.
So lets do some math to prove why an exchange would want to become involved.
50 million @ 2.5% annual ROI = 1.25 million coins per year ROI. Exchange retains 20% of that total = 250,000 coins per year or 684 coins per day. If the peg was set at 0.1 USD per coin, they'd make 68.40 dollars per day ='s nearly 25,000 dollars per year if the price remains the same. Yet the rolling peg protocol, will be designed to help the coin hopefully rise in price without the volatility. So if the exchange decided to hold their coins till the end of the year... well you see where this is going!

Should be interesting to say the least as this doesn't even take in consideration the fees generated through day traders. No other coin in existence will be able to reward an 'exchange' the way BitBay will!

And only Halo coins will be able to provide investors and traders with the capability to provide the tools necessary to create 'trustless' exchanges!

[LostLady]

Do it now. I would say at least 1 million Bay would be a good starting point. Imagine if the peg reaches 0.10 per coin!

Yeah well hopefully it will start getting more attention once exchanges realize they can safely cold stake their investors coins similar to the bonus rewards POW mining pools achieve.

And what's really cool is that it could create a new paradigm for exchanges. The exchange that provides the best stake reward, and security would gain the most coins to stake. BitBay could literally be backed by 3fa security.
An exchange that programmed their system to accept joint accounts with their investors would provide for the first time virtually unhackable accounts. The hacker would need to hack both the exchange and the individual investors computer system and find both keys to withdrawal on top of a typical 2fa deposit/withdrawal feature (google auth, sms text, email confirmation, etc.)

So for example...
Imagine an exchange above has on average 75 million coins on their exchange and 50 million of them are owned by investors hoping to cash in on the extra benefits of a stake pool minting new coins. Since the network will never be able to stake all coins in circulation due to various reasons, this exchange would earn more than the typical %1 ROI coded into the protocol. For example again, lets say this particular exchange is averaging about %2.5 stake reward. The exchange could retain %0.5 for themselves and the investor %2.0.
So lets do some math to prove why an exchange would want to become involved.
50 million @ 2.5% annual ROI = 1.25 million coins per year ROI. Exchange retains 20% of that total = 250,000 coins per year or 684 coins per day. If the peg was set at 0.1 USD per coin, they'd make 68.40 dollars per day ='s nearly 25,000 dollars per year if the price remains the same. Yet the rolling peg protocol, will be designed to help the coin hopefully rise in price without the volatility. So if the exchange decided to hold their coins till the end of the year... well you see where this is going!

Should be interesting to say the least as this doesn't even take in consideration the fees generated through day traders. No other coin in existence will be able to reward an 'exchange' the way BitBay will!

And only Halo coins will be able to provide investors and traders with the capability to provide the tools necessary to create 'trustless' exchanges!

When will peg be done?

[Bobsurplus]

Crap. Where did the sell order go? Prices are gonna rebound up...

He is still there. I track distribution accounts. He's currently #5 at 5.58 million
His deposit was 6.8 million. So he's sold almost 20% already.

Ok mr know it all.

You really like making yourself feel important eh.

Dont!

Caus you aint!

 

[LostLady]

David, are you coding alone or did you hire a team to code with you?

[dzimbeck]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

[damnMscollec]

another big dump today damn...

94 sat, it is acceptable, what is the ico price??  200 sat?

[RJF19]

another big dump today damn...

eh, no worries really. Those who dump now will be less to worry about later when the value of BitBay really starts to take off.

[LostLady]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

Any plans to start the peg? I think templates are great, but pegging is where we attract most of the people to our coin. They will see a price increase and go whaaaa? And this interest will go. I'm a bit worried since, talking about the details is one thing, but implementation may be hard? Can you start the peg or at least spec it out first? Thank you

Templates are great and all but to all other outsiders. It means nothing. The reason is because there is no marketing or explanation about it.

Ideally, you want your marketing team to take screen shots of the new templates and explain what they do and paint a story about how its used. Or videos about it. So far I see none of that, which is why the coin is illiquid. And stagnant and outside of top 100 on coinmarketcap without any volume, so I think shifting gears to peg may be better.

[dzimbeck]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

Any plans to start the peg? I think templates are great, but pegging is where we attract most of the people to our coin. They will see a price increase and go whaaaa? And this interest will go. I'm a bit worried since, talking about the details is one thing, but implementation may be hard? Can you start the peg or at least spec it out first? Thank you

Templates are great and all but to all other outsiders. It means nothing. The reason is because there is no marketing or explanation about it.

Ideally, you want your marketing team to take screen shots of the new templates and explain what they do and paint a story about how its used. Or videos about it. So far I see none of that, which is why the coin is illiquid. And stagnant and outside of top 100 on coinmarketcap without any volume, so I think shifting gears to peg may be better.

No the client needs to be finished completely first. Investing is a game of patience and coding requires extreme patience. I've already delivered decentralized markets and totally transformed the client as promised. The rest will come soon enough.

[RJF19]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

Any plans to start the peg? I think templates are great, but pegging is where we attract most of the people to our coin. They will see a price increase and go whaaaa? And this interest will go. I'm a bit worried since, talking about the details is one thing, but implementation may be hard? Can you start the peg or at least spec it out first? Thank you

Templates are great and all but to all other outsiders. It means nothing. The reason is because there is no marketing or explanation about it.

Ideally, you want your marketing team to take screen shots of the new templates and explain what they do and paint a story about how its used. Or videos about it. So far I see none of that, which is why the coin is illiquid. And stagnant and outside of top 100 on coinmarketcap without any volume, so I think shifting gears to peg may be better.

No the client needs to be finished completely first. Investing is a game of patience and coding requires extreme patience. I've already delivered decentralized markets and totally transformed the client as promised. The rest will come soon enough.

Absolutely agree! Would you put wheels under an engine and call it a car? No, the features need to be finished and tested, and being used before there would be meaningful value in pegging.

[Munti]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

No wonder why the site shows no info about the team. There's only 1 guy working on this   

And that one man happens to be David Zimbeck. He has accomplished more alone than most coins do with much bigger teams...
Thank you David

[Munti]

David, are you coding alone or did you hire a team to code with you?

Alone, never been able to find coders to help. I've tried but unfortunately most devs are lazy or lack the ability. I attempted to hire in SE Asia and they were way too slow and didn't even commit a single line. It would waste more time to teach them than to do it myself. A few other coders have been very slow to reply to emails or have tried a refactor and quit after about a day of work leaving me with nothing to commit.

So I've done 100% of the code. As for the daemon we use Blackcoin source which has been very reliable. Rat4 added some nice cold staking commands so that was helpful. And I was one of the people to message the Bitmessage dev and encourage Aetheros to fix the source of Bitmessage which is what I use to make decentralized markets.

The code itself is almost 50k lines. I could reduce it by making it more modular but it's a bit late for a refactor. I don't host on github since I've got doubts that enough people would commit and it would more likely get forked and cloned with dubious ideology. So we host on github after we finish. Also you can download source directly in my server and build from that with variable names changed which is good enough for audits.

No wonder why the site shows no info about the team. There's only 1 guy working on this  

And that one man happens to be David Zimbeck. He has accomplished more alone than most coins do with much bigger teams...
Thank you David

What are his accomplishments? legit question, I may be wrong

I'm sure sys has had some development since I made this, so ignore the comparison. Just read it as a list of features in BitBay




Edit: Except for the last 3, that's a list of what is already done. Next will be defence against keyloggers and templates.