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Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 542171 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (2 posts by 1+ user deleted.)
Karartma1
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February 07, 2017, 07:24:34 AM
 #3661

Blue Magic Capital posts BitBay Article

BITBAY, FROM VIOLENT STORMS TO SAFE HARBOR

http://bluemagic.info/2017/02/01/bitbay-from-violent-storms-to-safe-harbor/

Check out the article.  It covers the dramatic past, exciting present and enticing future plans.  Please retweet it to your friends using the link below.

https://twitter.com/bluemagicapital/status/826839297420582913



Nice article. Quick wrap up of everything you'll learn about this project from reading old posts & threads here on bitcointalk.

Good this project needs some marketing fuel as well as good development. Now we wait for your Press Release David. That should create a bit of noise around and I'm not simply referring to their name, BitcoinBuzz  Grin
cr197
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February 07, 2017, 11:46:20 AM
 #3662

Alright I got some new market items up. Basically they are binary options. If you think a *legit*  crypto coin (volume over 5 BTC  day) is going to go up or down in price. I'll wager you are wrong.
Or if you want to bet on any stock pick same applies!
All contracts for stocks end at close of bell on Friday.
All contracts for crypto end on Saturday 00:00 UTC.

Guaranteed stop loss at 10% of contract value.
Ever see a brokerage house not be able to execute a stop loss fast enough?
Now we don't have to worry about it!


Who needs exchanges and brokerage houses anymore? Tongue

"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
Munti
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February 07, 2017, 01:15:20 PM
Last edit: February 07, 2017, 02:27:16 PM by Munti
 #3663

A t t e n t i o n

Our site was hacked.
They changed a little in this blog http://bitbay.market/interview-david-zimbeck-vice/
We need to know if they changed anything else. Please help us read the info on site, and report if you see something that does not make sense.

Also do not use the download links until we have investigated. Use the download links in OP

Edit: The hack was less than 10 hours ago, so if you have downloaded QT wallet or client after that, you should be careful for now.
Munti
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February 07, 2017, 02:26:37 PM
 #3664



Ok, it was just an injection of marketing. The site is ok, and you can safely use the download links.
Our web dev is on it and tightens security right now. Site is also shortly getting moved to it’s own machine which will let us keep things way safer from there on.
Munti
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February 07, 2017, 02:56:09 PM
 #3665

Blue Magic Capital posts BitBay Article

BITBAY, FROM VIOLENT STORMS TO SAFE HARBOR

http://bluemagic.info/2017/02/01/bitbay-from-violent-storms-to-safe-harbor/

Check out the article.  It covers the dramatic past, exciting present and enticing future plans.  Please retweet it to your friends using the link below.

https://twitter.com/bluemagicapital/status/826839297420582913



Nice article. Quick wrap up of everything you'll learn about this project from reading old posts & threads here on bitcointalk.

Good this project needs some marketing fuel as well as good development. Now we wait for your Press Release David. That should create a bit of noise around and I'm not simply referring to their name, BitcoinBuzz  Grin

Marketing is getting a lot more focus now. Not only by doing the campaign. We have expanded our team as some may have noticed already.

We now have a highly professional video producer on our team. He has been here for a while already, but been busy making tutorial videos with craig. They are mostly done now, so he has started making promo videos as well. You can find one on our facebook page https://www.facebook.com/bitbaymarket/videos/736205693200941/ and more are in the pipeline.
Our latest addition to the team is gjsteele who has proven himself to be a talented writer. He is now writing at least one article every week, and participates in other marketing activities as well.

We have revived twitter and facebook recently, and also established presence in many other forums than BCT.
Community members have started to help out as well.

We will add more members to the team when we find the right talent.
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February 07, 2017, 03:13:36 PM
 #3666

Good work. There's no point in running!

The goal is to arrive!

Report to moderator 
__◣   Stake.com   ◥
Stake v2 Now live!
12+ Gamemodes  |  Provably Fair  |   Daily Giveaways
Munti
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February 07, 2017, 08:59:30 PM
 #3667

Alright I got some new market items up. Basically they are binary options. If you think a *legit*  crypto coin (volume over 5 BTC  day) is going to go up or down in price. I'll wager you are wrong.
Or if you want to bet on any stock pick same applies!
All contracts for stocks end at close of bell on Friday.
All contracts for crypto end on Saturday 00:00 UTC.

Guaranteed stop loss at 10% of contract value.
Ever see a brokerage house not be able to execute a stop loss fast enough?
Now we don't have to worry about it!


Who needs exchanges and brokerage houses anymore? Tongue

Looks fun. I'm gonna take one of those
rqdxrocket
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February 08, 2017, 01:25:12 AM
 #3668

Currently for sale on the Bitbay Market

Batman: Arkham City GOTY Edition STEAM CD-KEY GLOBAL for $3

Order number: 8e4183918fe010dd0891fb6919e0d174

This game currently sales for $19.99 on Steam - download the worlds most advanced virtual currency wallet and take advantage of this great offer

Thanks,
RQDxRocket
brigabriela470
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February 08, 2017, 11:57:56 AM
 #3669



Ok, it was just an injection of marketing. The site is ok, and you can safely use the download links.
Our web dev is on it and tightens security right now. Site is also shortly getting moved to it’s own machine which will let us keep things way safer from there on.

[/quote


ohhh......... it is very safe and sound techniques here to be used ..very active mind behind all this  work/scenario.
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February 08, 2017, 01:22:42 PM
 #3670

are we 100% nothing was changed with the market place or qt downloads in the breach?

I would hate to recommend to people they download anything that was compromised ?

I have talked to a few people that sometimes notice my recommendations for buys in the main alt board.

Some are new to bitbay altogether so we dont want to get them off on the wrong foot.




Munti
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February 08, 2017, 01:51:23 PM
 #3671

are we 100% nothing was changed with the market place or qt downloads in the breach?

I would hate to recommend to people they download anything that was compromised ?

I have talked to a few people that sometimes notice my recommendations for buys in the main alt board.

Some are new to bitbay altogether so we dont want to get them off on the wrong foot.





Yes, we are absolute certain. The download links go directly to Davids server.
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February 08, 2017, 01:59:36 PM
 #3672

are we 100% nothing was changed with the market place or qt downloads in the breach?

I would hate to recommend to people they download anything that was compromised ?

I have talked to a few people that sometimes notice my recommendations for buys in the main alt board.

Some are new to bitbay altogether so we dont want to get them off on the wrong foot.





Yes, we are absolute certain. The download links go directly to Davids server.

Thanks for quick reply. Good news indeed.

Bay is rock solid right now. Any dips are tiny and soon recover it looks like uptrend is set now. Fingers crossed it will be great to see us at 500-1000 sats base in the next few months with way more volume. Even that is under valued compared to those of similar MC.


scaryvirus
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February 08, 2017, 05:55:42 PM
 #3673

So dev decides what's allowed and what's not on this decentralized market? Why even make it decentralized if it's going to adhere to all the centralized laws? ....
Karartma1
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February 08, 2017, 06:38:28 PM
 #3674

So dev decides what's allowed and what's not on this decentralized market? Why even make it decentralized if it's going to adhere to all the centralized laws? ....
What are you talking about?  Sad Please explain yourself or go spamming somewhere else. Download the wallet, play with it and do something with the in-wallet marketplace.
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February 08, 2017, 06:43:49 PM
 #3675

So dev decides what's allowed and what's not on this decentralized market? Why even make it decentralized if it's going to adhere to all the centralized laws? ....

yes the dev can control what in the bitbay market but you can create your own market with in the bitbay client and no one will know about it only the people you advertise too.
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February 08, 2017, 07:03:51 PM
 #3676

I'm not aware that there will be any governance in the finished product the entire thing will be decentralised as far as I know.

Munti
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February 08, 2017, 07:35:43 PM
 #3677


It is decentralized, but the main market will be moderated. The reasons for that should be obvious. The legal market is so much bigger in the long run than any black markets, that it doesn't make any sense to become known as the next silkroad. That would create a very serious pr problem when promoting the market to ordinary people. Also, David does not want to be associated with crime. The team totally agrees with him on that.
The private markets in Bay can not be moderated unless a mod knows the exact name of the market. So in theory a black market could evolve there. But if the name of the market becomes common knowledge, a mod could hear about it, and close it down.
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February 08, 2017, 09:04:36 PM
 #3678

^ Exactly! Great explanation munti, couldn't have said it better. I'm not anonymous and getting myself into trouble prevents any future projects I'm working on. In order to get the masses to take an interest in decentralization, we need stuff like this.

There was an article on BitBay and BitHalo markets a ways back and it covered the exact same subject.

https://motherboard.vice.com/en_us/article/this-decentralized-bitcoin-market-is-for-legal-stuff-only
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February 08, 2017, 10:41:09 PM
 #3679


It is decentralized, but the main market will be moderated. The reasons for that should be obvious. The legal market is so much bigger in the long run than any black markets, that it doesn't make any sense to become known as the next silkroad. That would create a very serious pr problem when promoting the market to ordinary people. Also, David does not want to be associated with crime. The team totally agrees with him on that.
The private markets in Bay can not be moderated unless a mod knows the exact name of the market. So in theory a black market could evolve there. But if the name of the market becomes common knowledge, a mod could hear about it, and close it down.

I understand this but what if you were buying something that was not obviously wrong and it was moderated out and closed. What will happen to my funds as they buyer or seller?

Isn't the fact there is any moderation possible kind of leaving it open to legal issue. If there was no central control and everything was decentralised would that not be better than having a single entity moderating?

I think it is more risky for david being a moderator isn;t it?

I mean if you can moderate then you are responsible for allowing things to be there?

If no moderation is possible but there is no anon the authorities will have to police it according to their own countries rules.

I mean if you create a decentralised market place then how would you ever be able to moderate it all all or is there a special provision for this that I don't understand?

Will there be incentive for moderators. How many moderators will there be? Or is it a case of reported bad stuff is removed?


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February 08, 2017, 11:56:44 PM
 #3680


It is decentralized, but the main market will be moderated. The reasons for that should be obvious. The legal market is so much bigger in the long run than any black markets, that it doesn't make any sense to become known as the next silkroad. That would create a very serious pr problem when promoting the market to ordinary people. Also, David does not want to be associated with crime. The team totally agrees with him on that.
The private markets in Bay can not be moderated unless a mod knows the exact name of the market. So in theory a black market could evolve there. But if the name of the market becomes common knowledge, a mod could hear about it, and close it down.

I understand this but what if you were buying something that was not obviously wrong and it was moderated out and closed. What will happen to my funds as they buyer or seller?

Isn't the fact there is any moderation possible kind of leaving it open to legal issue. If there was no central control and everything was decentralised would that not be better than having a single entity moderating?

I think it is more risky for david being a moderator isn;t it?

I mean if you can moderate then you are responsible for allowing things to be there?

If no moderation is possible but there is no anon the authorities will have to police it according to their own countries rules.

I mean if you create a decentralised market place then how would you ever be able to moderate it all all or is there a special provision for this that I don't understand?

Will there be incentive for moderators. How many moderators will there be? Or is it a case of reported bad stuff is removed?



We can't stop private escrow. Only listings. If a buyer and seller are in escrow they control their funds, banning a user cannot ban them from contracts, only posting illegal things in the main market. Contracts cannot be interfered with, its impossible because its peer to peer.

Also things that are illegal in one country but not another are probably going to be allowed. So if a person sells Hemp or Raw Milk which is illegal in USA but legal in South America, then they are responsible for their own order. We won't moderate Mein Kampf for example.
However if someone offering out something like a hitman contract obviously that has to be removed.

I'm pretty sure thats a fair moderation policy for the main markets.

Also, I'm not responsible for the contents of the markets. This project is open source. If someone thinks I'm responsible I will gladly give them the moderation key they can then accept the responsibility. I'm not interested in babysitting the markets. It is impossible to "control the entire internet". That is a fruitless way to spend my time. How can you moderate what you can't see? If someone encrypts porn to the Bitcoin blockchain is everyone in the world committing a crime by downloading it?

Each country is going to police their citizens and generally try to rob them of as much freedom as possible before they realize it(so they have the illusion of freedom). However, these markets are obviously international. BitBay was started in China by Steven Dai. So is America
going to interfere because the dev is american?? That doesn't make sense. I don't even get paid in USD. Heck I don't even get paid.

Thats the same as throwing Satoshi in jail for making Bitcoin (even though Satoshi is just a pseudonym for a large group). It might happen but it is a violation of all that is good in the world a price I would gladly pay. If it really boils down to that. The creator of reddit unfortunately met a similar fare. Sadly he took his own life before the "stupidest trial in the world" took place. It happens. A life lost in pursuit of all that is good. Source: http://edition.cnn.com/2013/01/12/us/new-york-reddit-founder-suicide/

So it is what it is. We will do the best we can to moderate what we see, I'm not legally responsible for it but we do it out of goodwill. We want the masses to take an interest in their own freedom and start looking at distributed networks and decentralized markets. For their own benefit. Its a much, much larger picture.

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