Learning this voting system, and I must say, it really is a kickass design.
The majority consensus truly has the power.
Since votes require to be confirmed through stake reward:
A) it obliterates spam as they will also have to pay a .00005554 fee and painstakingly wait for confirmations via stake rewards
B) it keeps whales from 'pwning' a decision since they have to compete for staked blocks to confirm their transaction! So if 1 whale votes yes for a topic at hand and 100 small fish vote no, you'd essentially have 100 computers attempting to process a stake reward (with vote attached) compared to 1 computer owned by the whale trying to vote the opposite!
This really is going to open up a lot of doors for many other things as well.
Who needs AUGUR anymore, when again, it can all be done inside BitBay!
Exactly, I mean when bay is actually fully complete there are only probably a handful of cryto's that have any purpose left.
I think it is very important to try to keep our thread on page 1 of the ANN section. Lots of noobs and others that have not previously taken a serious look at bay will start to do so if we are always on page 1.
Although this is an aged project compared to most you are still getting in on this on the ground floor. This is hardly above ICO price and yet it now has achieved what was only talked about back then. I don't think many people realise that just because it has been out a few years the opportunity to be in on ground level still exists..
I think a new thread title that captures more attention could be useful. Perhaps even a new thread. We leave the past behind in this old thread full of spam and old negative memories. A fresh start.
BITBAY -
FREE BAY INSIDE - - We're just getting
STARTED here... come see for YOURSELF NOW!! -- get someone who knows how to insert attention catching graphics into the title without it looking cheap and cheesy.
OP is just too big with to many graphics and info. We want them in the thread trying out the wallet with videos to guide them straight away.
I think we should have links to the videos and only the marketplace wallet now.
I mean it is simply the new wallet with all the features packed inside it is so different from the normal QT's it is simply mindblowing for most people.
A faucet in the market place giving a some BAY to those that complete a basic smart contract. That smart contract can be mentioning BAY in another thread pointing out it's great new wallet and amazing features without spamming. Or even wearing a BAY avatar /sig for 1 week or more.
Once people are in and using the new wallet to complete a simple contract to get their free bay then I expect they MUST be convinced this stupid 1M MC is ludicrous in the face of other total shit coins having magnitudes higher MC.
I think a fresh new thread with immediate simple guide to downloading the new marketplace wallet and completing a smart contract for coins is the secret to getting anyone to see just how different and advanced bitbay is.
We then make those contracts we set up for free coins beneficial to bay by driving more people directly to the thread via posts, avatar and sig campaigns ...the thread does the rest to start a nice cycle going. The only issue is the source of the bay for the contracts. I would suggest all whales here donate all of their pos coins at least if not a nice chunk of bay to get it all rolling.
Interesting suggestions. I'm not to keen on BCT's search engine, but I don't have the energy to go there right now, so I don't know what effect that would have creating a new thread. Let's see what others say on the matter.
But yeah back to the voting...
The beauty of it is that it can either be public or private based on the users desire.
You are allowed to enter a 20 character string of your choice for your custom vote.
It can be as simple as posting 2 votes to gather consensus on pretty much anything.
If you want to know what others' opinion's are on the gold market, you could create 2 votes like:
GoldBull
and
GoldBear
Those strings turn into an individual burn address that tally up all the deposits from staked votes.
So imagine this setup for a potential decentralized trustless money management think tank. It would consist of a group of verified respectable traders and managers.
You could essentially ask their group (for a fee I'm sure) investment advice like the one above.
They would then vote on the matter. And you could verify their vote because you not only can count the votes in the client, but you can utilize the blockchain to verify the addresses that sent the vote to the burn address! Any sort of unverified address would be disregarded. Or better yet, the advisers track record would create a sort of 'network weight' similar to staking with more coins.
So we could even add a twist to their fee for their services. Rather than just pay them a flat rate fee they distribute amongst themselves, you could send the fee to a custom python contract that retains the coins until after the vote deadline and the correct voters are determined. Then the coins locked would be divvied up proportionally to the voters who provided the correct answer!
The losers don't deserve a reward, and this forces them to try harder next time!
Heck this is just a start!
The possibilities are mind blowing.
I know language strings are limited because, well... there are only so many ways to ask "BuyBTC" or "SellBTC" but that doesn't apply to random strings
So a random string could apply a massive amount of anonymity and give a near infinite number of strings to create a vote for.
For example:
'kJSisigusSwosid' could be applied to the example above (a money management think tank), and that community would be notified publically or privately that that string represents a decrypted vote for "I've got 5000 shares of IBM, should I hold or sell?"
Pretty amazing power at our fingertips!
All without the need for a middleman to take a cut!
Imagine a money manager that works for 'xyz' bank during the day, and by night, a freelance investment adviser without his boss taking a cut for his services!
