BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Figatko]

What if try to make waves-bay gateway? It could be a good promotion for bay even when planning/discussing.

Could you explain?
I'm not so sure I understand how Waves is set up. They use a gateway feature?

You can issue a token there and trade it to any other token. And as I understand we can also trade waves on Bitbay platform.

[cr197]

Problems I see here they are: you are alone, too much "solo mentality", a team, even if they are not all at the same "capacity level" (guys i'm not English, understand me), it can do a lot more and faster, you don't need only a good project, also time it's important, you can't start today and finish after 4 years, in 4 years the world changes.

Second, the peg idea doesn't convince me too much. Holding people money for some time....i would go crazy if i have 1.000 dollars for example in bitbay coins and i can't use them who knows for how long...
It would be better simply using Bitcoin or Monero for buying and selling inside Bitbay platform and instead of selling Bitbay coins to people, you sell them stocks/shares of Bitbay.
Nowadays are borning too much coins, people cant buy Bitbay coins for using your platform, Siacoin for the storage services, Monero for privacy, Gamecredits for gaming....
People want simple stuff, that's why only two or three coins go very well now.

Hundreds of coins in the mid term will have no success, now they are kind of working but mid and long term less than 1% will survive, but not because 99% of projects are bad, many are very interesting and good, just because can't exists hundreds of crypto coins.

Very good points...
At the very beginning of this project, David, did try to find developers and was unsuccessful. At this point trying to include new devs, probably would make the end product release take even longer.  

The rolling peg can be a little complex, but as we get closer to the release a detailed explanation will be included. It has so many positives to it though that need better clarification.

First, if you buy 1,000 dollars worth of Bay (post-peg), all of those will be 100% liquid. The odds that the peg algorithm will all of a sudden decide to freeze 40-50% of total coin supply, is a very very slim possibility.
Sure, at the beginning of the peg implementation the system will be more active in ratio adjustments, but as time goes by it should, in theory, become less frequent as the wealth is distributed out more evenly to more users. So in my opinion, someone who buys 1,000 USD worth of Bay post-peg probably wouldn't see more than a 10 to 20% ratio adjustment. And since that individual is already 100% liquid, it would only freeze their bag around 100 to 200 USD worth of value. The goal of the freeze is to reverse the direction of the market price, so in theory the odds are that the next ratio adjustment would be a 'liquify' adjustment rather than another freeze adjustment.

Second, you've got to realize the potential advantage this feature will have for day traders. Rather than day traders trading back and forth between BTC/USD or BTCNY pairing (which are currently the biggest markets), and rather than just use BTC/Tethered USD on poloniex, now traders will have the option to 'compound' their interest with BitBay hedging! The marketing potential for this is huge!!!!
Since BitBay will be using a rolling peg(price has fluctuation) it will allow traders to risk investing in one in hopes that the market increases and then investing in the other in hopes that the market increases. By timing the markets right they have the ability to make more money rather than just the typical BTC/USD pairing market. The rolling peg will give investors peace of mind knowing that if they missed a 'window of opportunity' they don't have to fret much because the rolling peg will protect their investment capital and, in theory, overtime the value of BitBay will continuously rise as more and more users buy it.
That's what's so cool about the rolling peg. It's not based on pegging to the dollar or gold, but rather, its value is based on supply and demand alone. So it's only weakness is lack of user interest. It doesn't have to worry about whether or not USD dumps 5% in a month, or if BTC dumps 15% in a month, or if gold dumps, etc., it's all based on user interest, and those market's volatility factors just mentioned will help increase interest in BitBay.

So yeah it should be noted that those that currently hold BitBay will be hit the hardest on the initial peg implementation. But that shouldn't be much of an issue in their eyes if the price also increases 200 to 1000% from whence they purchased their pre-pegged BitBay.  

One main aspect I like about BitBay is that it forces us out of debt-driven economics. It forces you to save your money and be patient for when the price goes down. It forces you to have enough reserve to buy items on the marketplace as if you could buy it twice over.

And yeah I understand people want simple stuff, but after you see these new videos about to be released on the next update, you'll see that BitBay really isn't that complex. If you want to trade it however, providing complexity for opportunity is not a bad thing, in fact, traders will demand it. It doesn't mean you have to trade like them though. You can still go with the basic buy low and sell high principle.

And as for the marketplace, if you are new to BitBay, and you see an item that's worth 15 USD of Bay and the seller requires a true double deposit escrow, you'd simply be investing and buying at the same time. So for that example a user would simply buy around 32 USD of BitBay. That way they can make their escrow deposit and account for any potential peg algo adjustments, and hopefully make some money off capital gains in the process if they wanted to sell out afterwards. Again, BitBay helps people to learn to save money, which isn't a bad thing!  

So hang in there and  thanks for being so patient!

[cr197]

What if try to make waves-bay gateway? It could be a good promotion for bay even when planning/discussing.

Could you explain?
I'm not so sure I understand how Waves is set up. They use a gateway feature?

You can issue a token there and trade it to any other token. And as I understand we can also trade waves on Bitbay platform.

Ahh... I see! Yeah BitBay will allow you to trade anything for anything, trustlessly. All you need is the BitBay to deposit into the escrow system.

Do they plan on any sort of trustless marketplace in their future innovations?

[formajocoto]

Problems I see here they are: you are alone, too much "solo mentality", a team, even if they are not all at the same "capacity level" (guys i'm not English, understand me), it can do a lot more and faster, you don't need only a good project, also time it's important, you can't start today and finish after 4 years, in 4 years the world changes.

Second, the peg idea doesn't convince me too much. Holding people money for some time....i would go crazy if i have 1.000 dollars for example in bitbay coins and i can't use them who knows for how long...
It would be better simply using Bitcoin or Monero for buying and selling inside Bitbay platform and instead of selling Bitbay coins to people, you sell them stocks/shares of Bitbay.
Nowadays are borning too much coins, people cant buy Bitbay coins for using your platform, Siacoin for the storage services, Monero for privacy, Gamecredits for gaming....
People want simple stuff, that's why only two or three coins go very well now.

Hundreds of coins in the mid term will have no success, now they are kind of working but mid and long term less than 1% will survive, but not because 99% of projects are bad, many are very interesting and good, just because can't exists hundreds of crypto coins.

Very good points...
At the very beginning of this project, David, did try to find developers and was unsuccessful. At this point trying to include new devs, probably would make the end product release take even longer.  

The rolling peg can be a little complex, but as we get closer to the release a detailed explanation will be included. It has so many positives to it though that need better clarification.

First, if you buy 1,000 dollars worth of Bay (post-peg), all of those will be 100% liquid. The odds that the peg algorithm will all of a sudden decide to freeze 40-50% of total coin supply, is a very very slim possibility.
Sure, at the beginning of the peg implementation the system will be more active in ratio adjustments, but as time goes by it should, in theory, become less frequent as the wealth is distributed out more evenly to more users. So in my opinion, someone who buys 1,000 USD worth of Bay post-peg probably wouldn't see more than a 10 to 20% ratio adjustment. And since that individual is already 100% liquid, it would only freeze their bag around 100 to 200 USD worth of value. The goal of the freeze is to reverse the direction of the market price, so in theory the odds are that the next ratio adjustment would be a 'liquify' adjustment rather than another freeze adjustment.

Second, you've got to realize the potential advantage this feature will have for day traders. Rather than day traders trading back and forth between BTC/USD or BTCNY pairing (which are currently the biggest markets), and rather than just use BTC/Tethered USD on poloniex, now traders will have the option to 'compound' their interest with BitBay hedging! The marketing potential for this is huge!!!!
Since BitBay will be using a rolling peg(price has fluctuation) it will allow traders to risk investing in one in hopes that the market increases and then investing in the other in hopes that the market increases. By timing the markets right they have the ability to make more money rather than just the typical BTC/USD pairing market. The rolling peg will give investors peace of mind knowing that if they missed a 'window of opportunity' they don't have to fret much because the rolling peg will protect their investment capital and, in theory, overtime the value of BitBay will continuously rise as more and more users buy it.
That's what's so cool about the rolling peg. It's not based on pegging to the dollar or gold, but rather, its value is based on supply and demand alone. So it's only weakness is lack of user interest. It doesn't have to worry about whether or not USD dumps 5% in a month, or if BTC dumps 15% in a month, or if gold dumps, etc., it's all based on user interest, and those market's volatility factors just mentioned will help increase interest in BitBay.

So yeah it should be noted that those that currently hold BitBay will be hit the hardest on the initial peg implementation. But that shouldn't be much of an issue in their eyes if they price also increases 200 to 1000% from whence they purchased their pre-pegged BitBay.  

One main aspect I like about BitBay is that it forces us out of debt-driven economics. It forces you to save your money and be patient for when the price goes down. It forces you to have enough reserve to buy items on the marketplace as if you could buy it twice over.

And yeah I understand people want simple stuff, but after you see these new videos about to be released on the next update, you'll see that BitBay really isn't that complex. If you want to trade it however, providing complexity for opportunity is not a bad thing, in fact, traders will demand it. It doesn't mean you have to trade like them though. You can still go with the basic buy low and sell high principle.

And as for the marketplace, if you are new to BitBay, and you see an item that's worth 15 USD of Bay and the seller requires a true double deposit escrow, you'd simply be investing and buying at the same time. So for that example a user would simply buy around 32 USD of BitBay. That way they can make their escrow deposit and account for any potential peg algo adjustments, and hopefully make some money off capital gains in the process if they wanted to sell out afterwards. Again, BitBay helps people to learn to save money, which isn't a bad thing!  

So hang in there and  thanks for being so patient!

I see, i understand your points, we will see what will happen

[RJF19]

Happy New Year to all!

[vella85]

Happy New Year to all!

Same to you and let's hope 2017 will be a big year for BitBay and the community, by the way I'm new to BitBay as I just started staking 500,000 coins just last week and so far I'm happy with my staking rewards and am hoping that 2017 is the year BitBay really starts to take off.

[Munti]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more 

Happy new year

[target]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more 

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

[dzimbeck]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

[JohnBidwell]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

Then why does nobody pay attention to this project? Seems strange to me...

[funsponge]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

Then why does nobody pay attention to this project? Seems strange to me...

Good question and I'm glad you asked. Bitbay hasn't yet spent any money on advertising. David and the community want a product to advertise,  rather than promises like 99% of other altcoins (ether being the prime example) once the new year is over and the decentralised market is up and running with all the features such as stacking and pay via email etc then focus will be on advertising and spreading the word in what has been created! We have achieved a $1m marketcap just by word of mouth!!

The famous saying is "If you build it they will come"

We are at the early stages of crypto still where people want to make a quick profit in a few days and not do any research into what they are buying. When the people that really count start investing into crypto (billion dollar companies) they will look at actual product and the technology! What has been created and not what is 'promised'.

Also as David has said above he is the creator of Halo! So in theory he owns the copyright to it. Nobody can copy it or replicate it without his approval. He owns that technology!!

[cryptohunter]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more 

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

I think this will be the best of the lot. I only hope we can do it in time to make big waves in this area. Some others have big teams with a lot of funding. This is how it goes in life. Bitbay were the first to start with this idea. Others came along and pounced on it and tried to copy it. Hopefully though soon this project will start to come all together and proving all of us correct is sticking with this and david will get the recognition he deserves for coding out and designing this masterpiece.

I will never sell until any at all until we are top 10 at the least.

When moving to pos3 will there a coin swap. Would we not be better waiting until black has it's next big update? I heard they are making some big updates very soon to the codebase?

[sidhujag]

Merry xmas and happy newyears david and the team! From syscoin

[The-Accountant]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

Then why does nobody pay attention to this project? Seems strange to me...

Good question and I'm glad you asked. Bitbay hasn't yet spent any money on advertising. David and the community want a product to advertise,  rather than promises like 99% of other altcoins (ether being the prime example) once the new year is over and the decentralised market is up and running with all the features such as stacking and pay via email etc then focus will be on advertising and spreading the word in what has been created! We have achieved a $1m marketcap just by word of mouth!!

The famous saying is "If you build it they will come"

We are at the early stages of crypto still where people want to make a quick profit in a few days and not do any research into what they are buying. When the people that really count start investing into crypto (billion dollar companies) they will look at actual product and the technology! What has been created and not what is 'promised'.

Also as David has said above he is the creator of Halo! So in theory he owns the copyright to it. Nobody can copy it or replicate it without his approval. He owns that technology!!

It sounds like you don't know how to advertise or want big money to me. You make promises you know you can keep that equals hype and then more people are hyping and waiting for the release of said hype development tool. (FREE ADVERTISING) and may I add, the best! You guys have a good product but it won't go anywhere now you mark my words, you have no strategy, you think you do but you don't, you think you and master david know all. BUT YOU DON'T. Example, ether got places and was seen around the world because it was able to hype vapour, now think if you didnt think you know everything Bitbay could be world wide and worth a fortune even at this stage and then what advertisement you think you could top up the already great shit you had going on? Sorry but ya'll amateurs. I am available for strategy at the right price.

[CryptoRambler]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

Then why does nobody pay attention to this project? Seems strange to me...

Good question and I'm glad you asked. Bitbay hasn't yet spent any money on advertising. David and the community want a product to advertise,  rather than promises like 99% of other altcoins (ether being the prime example) once the new year is over and the decentralised market is up and running with all the features such as stacking and pay via email etc then focus will be on advertising and spreading the word in what has been created! We have achieved a $1m marketcap just by word of mouth!!

The famous saying is "If you build it they will come"

We are at the early stages of crypto still where people want to make a quick profit in a few days and not do any research into what they are buying. When the people that really count start investing into crypto (billion dollar companies) they will look at actual product and the technology! What has been created and not what is 'promised'.

Also as David has said above he is the creator of Halo! So in theory he owns the copyright to it. Nobody can copy it or replicate it without his approval. He owns that technology!!

It sounds like you don't know how to advertise or want big money to me. You make promises you know you can keep that equals hype and then more people are hyping and waiting for the release of said hype development tool. (FREE ADVERTISING) and may I add, the best! You guys have a good product but it won't go anywhere now you mark my words, you have no strategy, you think you do but you don't, you think you and master david know all. BUT YOU DON'T. Example, ether got places and was seen around the world because it was able to hype vapour, now think if you didnt think you know everything Bitbay could be world wide and worth a fortune even at this stage and then what advertisement you think you could top up the already great shit you had going on? Sorry but ya'll amateurs. I am available for strategy at the right price.

Lol. You sound like a newbie. David was a coin trader prior to learning the code to make BitBay. He is well aware of marketing strategies, and is ensuring that the folks who have supported him when prices were low get paid.

I am not trying to offend you, but David is running the game here. Not Ben Affleck 😉

[vella85]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more 

Happy new year

I think 2017 will also be an exciting year for BitBay and I'll be sure to check in more often here to keep updated on what is going on with the coin. And right now the coin is cheap so any new investor can afford to get in and own some BitBay coins.

Happy New Year everyone!

[dzimbeck]

Merry xmas and happy newyears david and the team! From syscoin

Thanks Sid and good luck with your project! And also thanks to everyone on the forum, we are making tons of progress I expect 2017 to be our year.

[funsponge]

Merry xmas and happy newyears david and the team! From syscoin

Thank you happy new year to you too! :-)

[cryptohunter]

still pretty rock solid in the face of BTC bull

People are buying a holding. This is a good sign.

[RJF19]

2017 will be a very exciting year for BitBay.
We will fork to POS3 in january, so check in often the next two weeks to keep updated.
The fork will lay the groundwork for cold staking, pegging, and more  

Happy new year

Will it really have the chance after all the decentralized market being created these days, it seem like there are much competition going on. It will be good if bitbay will progress though. imagine how much profit will an investor get if he invest today because the price is cheap.

Yeah however our decentralized market is peer to peer, the others bloat the blockchain. And Bitbay has double deposit escrow 2 party escrow (unbreakable contracts), which is only found in Halo products. No other coin in the world has a smart contracting platform that actually has a UI and works. We are probably years ahead of the competition.

Then why does nobody pay attention to this project? Seems strange to me...

Good question and I'm glad you asked. Bitbay hasn't yet spent any money on advertising. David and the community want a product to advertise,  rather than promises like 99% of other altcoins (ether being the prime example) once the new year is over and the decentralised market is up and running with all the features such as stacking and pay via email etc then focus will be on advertising and spreading the word in what has been created! We have achieved a $1m marketcap just by word of mouth!!

The famous saying is "If you build it they will come"

We are at the early stages of crypto still where people want to make a quick profit in a few days and not do any research into what they are buying. When the people that really count start investing into crypto (billion dollar companies) they will look at actual product and the technology! What has been created and not what is 'promised'.

Also as David has said above he is the creator of Halo! So in theory he owns the copyright to it. Nobody can copy it or replicate it without his approval. He owns that technology!!

It sounds like you don't know how to advertise or want big money to me. You make promises you know you can keep that equals hype and then more people are hyping and waiting for the release of said hype development tool. (FREE ADVERTISING) and may I add, the best! You guys have a good product but it won't go anywhere now you mark my words, you have no strategy, you think you do but you don't, you think you and master david know all. BUT YOU DON'T. Example, ether got places and was seen around the world because it was able to hype vapour, now think if you didnt think you know everything Bitbay could be world wide and worth a fortune even at this stage and then what advertisement you think you could top up the already great shit you had going on? Sorry but ya'll amateurs. I am available for strategy at the right price.

Wow! Your available? I bet you are... Have a Happy New Year (somewhere else)