BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[JanDzban]

No matter what but the fact is that market perceive low supply coins as a good buy and prefer them.
Almost all coins trading above 10k has maximum supply not more than 150 millions.

It is about 5:1 for less than 150m supply for more than 150m supply, that is why you can see more low supply coins on top of CMC ranking but also on the bottom:



And if we consider Top 30 CMC there is 10 coins with supply more than 150m so it is 3:1 for less supply. So kooks like high supply coins are more popular than low supply but it's not true neither because it doesn't really matter.

[vlom]

wallet download is so slow. could you please offer a fast download option. thank you.
more than two hours for about 300mb.

Are you talking about blockchain or the site?! It's actually not hosted at my server (the site) so I can't really do anything about that.
I'm assuming you are referring to the new Mac QT build?!

If you are talking about the blockchain you can download it precompiled here:
http://bitbay.market/downloads/

yes, i am trying to download the qt wallet. i stopped the download.

[Munti]

No matter what but the fact is that market perceive low supply coins as a good buy and prefer them.
Almost all coins trading above 10k has maximum supply not more than 150 millions.

You are hung up in an irrelevant figure.
The price of single coins is completely irrelevant. What matters is marketcap!
When you buy into a coin you buy a certain percentage of the total supply. And you win or lose the same percentage that the marketcap moves.
And I think most in here would agree that Bay marketcap is still very low when you see what we have to offer compared to other coins with higher marketcap.

[Munti]

And even potentially watch Bays value rise because the peg is "rolling" or "moving" and not fixed.

Ah !

I get it now. So "rolling" in this context means that the peg itself can move ? So it's basically like a regularly freely-traded asset except that the exchange rate moves discretely instead of continuously ?

Yes the peg itself can and will move. We expect exchange rates to move continously, only with a lot less volatility than without peg. This peg has a lot in common with what is commonly known as a crawling peg in fiat.

[toknormal]

This peg has a lot in common with what is commonly known as a crawling peg in fiat.

Thanks ! Will google that.

[dzimbeck]

Does 'voter-peg' fit? Or maybe 'velocity-peg'.

Yeah or maybe liquid peg? Moving peg is actually more direct than "rolling peg". Pegging is a word I want to avoid. Despite being an economic term (which is not used so often) now has a bizarre sexual term that seems to dominate google. So from an SEO perspective it would be nice to target a niche keyword that also fits within our target market but also explicitly describes what the currency is doing.

[dzimbeck]

wallet download is so slow. could you please offer a fast download option. thank you.
more than two hours for about 300mb.

Are you talking about blockchain or the site?! It's actually not hosted at my server (the site) so I can't really do anything about that.
I'm assuming you are referring to the new Mac QT build?!

If you are talking about the blockchain you can download it precompiled here:
http://bitbay.market/downloads/

yes, i am trying to download the qt wallet. i stopped the download.

Well switch to the markets wallet anyways! It's better to be honest. And smaller download.

[cr197]

Top 100 is the untouched over last 24 hours.

Most active sellers to date:                                 Current Amount    Previous amount

BLE1M3UDEzJxbkHHA5pZLPkT7zXq2xdpqm                211,649                516,765
BCK5KHcDTpgZULrzKyY4ygxYEuFBHRqwJE                 340,332               371,216
BHokzCwQ1RPUavAPFEHNsgZoxo6pgPsxDX                241,594               261,317
B6HtsEuEQfzJTsf751xFj11DpuFjzQfgiS                        159,263              218,850

Totals                                                                    952,838           1,368,148

Happy trading (edited)

[stereotype]

Does 'voter-peg' fit? Or maybe 'velocity-peg'.

Yeah or maybe liquid peg? Moving peg is actually more direct than "rolling peg". Pegging is a word I want to avoid. Despite being an economic term (which is not used so often) now has a bizarre sexual term that seems to dominate google. So from an SEO perspective it would be nice to target a niche keyword that also fits within our target market but also explicitly describes what the currency is doing.

Liquidity-Voting
Vote-Pricing
Dyno-Priced
Smart-Pricing
Stake-Pricing
Smart-Staking


Who are you saying, is the target market?

[fluxer555]

Wouldn't exchanges have to cooperate to a high degree here? The coins in each user's accounts usually just correlate to a percentage of some total supply owned by the exchange. If I transfer 100 coins to an exchange right before a 50% freeze, I'll still be able to trade all 100 of my coins, even though the exchange's wallets will have the funds tied up. The problem will be when I try to withdraw, or rather, when more than 50% of their stored funds are withdrawn. It would benefit those who withdrew earlier, and it seems possible that this could avalanche into a bank-run type scenario. In order to avoid this issue, all exchanges would have to artificially implement the coin's logic within their trade mechanics. Thoughts?

[cryptohunter]

We need tiered pos returns based  upon amount held and duration held  else it will be a continual battle against the churners.

People should be rewarded for accumulating and holding firm.

[dzimbeck]

We need tiered pos returns based  upon amount held and duration held  else it will be a continual battle against the churners.

People should be rewarded for accumulating and holding firm.

Coinage doesn't work because it allows people to gain by being disconnected. That was one of the major things removed from the original POS.

[neo1947]

Do you guys think it s worth to add Bay Coinhills? looks like a good site
https://www.coinhills.com

[dzimbeck]

Wouldn't exchanges have to cooperate to a high degree here? The coins in each user's accounts usually just correlate to a percentage of some total supply owned by the exchange. If I transfer 100 coins to an exchange right before a 50% freeze, I'll still be able to trade all 100 of my coins, even though the exchange's wallets will have the funds tied up. The problem will be when I try to withdraw, or rather, when more than 50% of their stored funds are withdrawn. It would benefit those who withdrew earlier, and it seems possible that this could avalanche into a bank-run type scenario. In order to avoid this issue, all exchanges would have to artificially implement the coin's logic within their trade mechanics. Thoughts?

Astute observation! Well, first of all the miners enforce it so if exchanges don't pay attention they can become insolvent. With that said most exchanges are corrupt. So there is a few pages of my whitepaper listing multiple strategies for dealing with them. Ideally they run the API and query balance of frozen and liquid with it. The more data they supply about trades the less of a melting pot it becomes.

A user would have two balances frozen and liquid. We can then handle somewhat inaccurate API calls that mix liquidity or super accurate ones that check the trades. The worst case scenario we allow full withdraw with the one month time lock to move the partially frozen chunks but that is only if we get desperate because then like you said people with their money on the exchange early have the unfair edge. You might tempt them with arbitrage elsewhere but really we want co-operative exchanges. There are a few that will work with us I think. We may end up turning a small exchange into a big one.

The other way is rely on decentralized exchanges which literally move the funds like (hopefully) Blocknet or Komodo assuming either of them get popular.

[dzimbeck]

Does 'voter-peg' fit? Or maybe 'velocity-peg'.

Yeah or maybe liquid peg? Moving peg is actually more direct than "rolling peg". Pegging is a word I want to avoid. Despite being an economic term (which is not used so often) now has a bizarre sexual term that seems to dominate google. So from an SEO perspective it would be nice to target a niche keyword that also fits within our target market but also explicitly describes what the currency is doing.

Liquidity-Voting
Vote-Pricing
Dyno-Priced
Smart-Pricing
Stake-Pricing
Smart-Staking


Who are you saying, is the target market?

Well I guess finding the term is tough enough. I'm not entirely sure who we are targeting I was just thinking about seo. Maybe something with freezing or forcing or moving. What words are synonymous with economic pegs?

So the closest term in economics is crawling peg?! Cool term but not explicit for newcomers who won't be able to visualize it

[stereotype]

Does 'voter-peg' fit? Or maybe 'velocity-peg'.

Yeah or maybe liquid peg? Moving peg is actually more direct than "rolling peg". Pegging is a word I want to avoid. Despite being an economic term (which is not used so often) now has a bizarre sexual term that seems to dominate google. So from an SEO perspective it would be nice to target a niche keyword that also fits within our target market but also explicitly describes what the currency is doing.

Liquidity-Voting
Vote-Pricing
Dyno-Priced
Smart-Pricing
Stake-Pricing
Smart-Staking


Who are you saying, is the target market?

Well I guess finding the term is tough enough. I'm not entirely sure who we are targeting I was just thinking about seo. Maybe something with freezing or forcing or moving. What words are synonymous with economic pegs?

So the closest term in economics is crawling peg?! Cool term but not explicit for newcomers who won't be able to visualize it

Then, i would say cryptonomic peg.......doesnt say much to newcomers, though. 

[cryptohunter]

dynamic peg?

[The Crypto Baron]

dynamic peg?

Dynamic is good

[cryptohunter]

Wouldn't exchanges have to cooperate to a high degree here? The coins in each user's accounts usually just correlate to a percentage of some total supply owned by the exchange. If I transfer 100 coins to an exchange right before a 50% freeze, I'll still be able to trade all 100 of my coins, even though the exchange's wallets will have the funds tied up. The problem will be when I try to withdraw, or rather, when more than 50% of their stored funds are withdrawn. It would benefit those who withdrew earlier, and it seems possible that this could avalanche into a bank-run type scenario. In order to avoid this issue, all exchanges would have to artificially implement the coin's logic within their trade mechanics. Thoughts?

Astute observation! Well, first of all the miners enforce it so if exchanges don't pay attention they can become insolvent. With that said most exchanges are corrupt. So there is a few pages of my whitepaper listing multiple strategies for dealing with them. Ideally they run the API and query balance of frozen and liquid with it. The more data they supply about trades the less of a melting pot it becomes.

A user would have two balances frozen and liquid. We can then handle somewhat inaccurate API calls that mix liquidity or super accurate ones that check the trades. The worst case scenario we allow full withdraw with the one month time lock to move the partially frozen chunks but that is only if we get desperate because then like you said people with their money on the exchange early have the unfair edge. You might tempt them with arbitrage elsewhere but really we want co-operative exchanges. There are a few that will work with us I think. We may end up turning a small exchange into a big one.

The other way is rely on decentralized exchanges which literally move the funds like (hopefully) Blocknet or Komodo assuming either of them get popular.

Perhaps we could create our own centralised exchange with bitbay as the base currency which will be like the most stable vs usd exchange out there.
All fee's after costing taken out for running it used to buy back bay from the market place and provide constant upwards pressure.

also whats up with tether today> seems to be 10% down?

[cr197]

Wouldn't exchanges have to cooperate to a high degree here? The coins in each user's accounts usually just correlate to a percentage of some total supply owned by the exchange. If I transfer 100 coins to an exchange right before a 50% freeze, I'll still be able to trade all 100 of my coins, even though the exchange's wallets will have the funds tied up. The problem will be when I try to withdraw, or rather, when more than 50% of their stored funds are withdrawn. It would benefit those who withdrew earlier, and it seems possible that this could avalanche into a bank-run type scenario. In order to avoid this issue, all exchanges would have to artificially implement the coin's logic within their trade mechanics. Thoughts?

Astute observation! Well, first of all the miners enforce it so if exchanges don't pay attention they can become insolvent. With that said most exchanges are corrupt. So there is a few pages of my whitepaper listing multiple strategies for dealing with them. Ideally they run the API and query balance of frozen and liquid with it. The more data they supply about trades the less of a melting pot it becomes.

A user would have two balances frozen and liquid. We can then handle somewhat inaccurate API calls that mix liquidity or super accurate ones that check the trades. The worst case scenario we allow full withdraw with the one month time lock to move the partially frozen chunks but that is only if we get desperate because then like you said people with their money on the exchange early have the unfair edge. You might tempt them with arbitrage elsewhere but really we want co-operative exchanges. There are a few that will work with us I think. We may end up turning a small exchange into a big one.

The other way is rely on decentralized exchanges which literally move the funds like (hopefully) Blocknet or Komodo assuming either of them get popular.

Perhaps we could create our own centralised exchange with bitbay as the base currency which will be like the most stable vs usd exchange out there.
All fee's after costing taken out for running it used to buy back bay from the market place and provide constant upwards pressure.

also whats up with tether today> seems to be 10% down?

Maybe Bitfinex needs more money to stay afloat?