BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[R-J-F]

Ok, thanx for your calming answers and your time.
I apologize for my language, hope we all see bright future with Bay.

No need to apologize, I understand. This is also a good time to buy. And yes, we do see a bright future for Bay indeed.

BTW, you can find the Block Explorer and other info here:  http://bitbay.market/directory/

[dzimbeck]

Yes yes it looks just like that....
Who is dumping all those coins? what is happening !?
And still there is no sign of dump end...chinese scam coin ?!

Who is Chinese here?!  

Granted the software does translate to 90 languages.

Look at the OP (the first page of this thread) and then go look at the training videos. This coin is a long term hold not some short term traders play thing. Realize what you have invested in is real software that does too many things to list in a single response. And if you are trading based on day charts I don't know what to tell you. Zoom out and look at the 3 year chart.

[dzimbeck]

Taking an interest in this project.  I've familiarized myself with the client and things seem to work as they should.....except embedding the keys in images.  I've tried a few different pngs and it seems the client will embed the key sucessfully...but every time I go to extract it fails.

Any insight?

Hey can you be more specific? There is two ways to embed data into an image. The first is embedding files in images and the other is embedding an actual key. The key to image feature should be able to put files/keys inside and withdraw them. If for some reason you have trouble extracting I need more details. So please if you have a moment log into slack and tell me what your issue is and a complete description of the steps you took. Its most likely fine. Oh and one more thing. Read what it says, when you put a file in an image don't change the image in photoshop or recompress it by sending on imgur as that will mess up the steganography.

EDIT:
I changed something recently. So for this version you can't extract keys, only files. I will patch that in the next update. Regardless the keys load fine within the images. Its just I changed the way the file appears so I need to update extraction. Thanks for reporting that.

[Assman]

Yes yes it looks just like that....
Who is dumping all those coins? what is happening !?
And still there is no sign of dump end...chinese scam coin ?!

Who is Chinese here?!  

Granted the software does translate to 90 languages.

Look at the OP (the first page of this thread) and then go look at the training videos. This coin is a long term hold not some short term traders play thing. Realize what you have invested in is real software that does too many things to list in a single response. And if you are trading based on day charts I don't know what to tell you. Zoom out and look at the 3 year chart.

American scam coin!  

JK keep up the great work David and looking forward to big things from the new team!

Bought into this after a Crypto Baron episode a ways back... 10x returns in a couple months

[R-J-F]

Yes yes it looks just like that....
Who is dumping all those coins? what is happening !?
And still there is no sign of dump end...chinese scam coin ?!

Who is Chinese here?!  

Granted the software does translate to 90 languages.

Look at the OP (the first page of this thread) and then go look at the training videos. This coin is a long term hold not some short term traders play thing. Realize what you have invested in is real software that does too many things to list in a single response. And if you are trading based on day charts I don't know what to tell you. Zoom out and look at the 3 year chart.

American scam coin!  

JK keep up the great work David and looking forward to big things from the new team!

Bought into this after a Crypto Baron episode a ways back... 10x returns in a couple months

Sounds like a late night TV sitcom!    BAY is taking off, glad you didn't miss it!

[XxOtakuXx]

Yeah, thats what I`m saying also... someone dumped huge portion of Bay.
I was looking at a buy wall when that kind of big dump happened. From 1300 to 960 instant, and buy wall was 15+ btc..
So basically i`m worried about coin distribution....how many whales are there and where can i find stats of bay holders (wallets with biggest coin balance) ?
Thank you for your understanding.

https://chainz.cryptoid.info/bay/#!wallets

This is not Chinese scam coin. Back in 2014 When this coin got launched founders dumped the coins at 350-500 satoshi. The coin supply is 1 billion bay.  This coin maximum went down to 40 or 80 sathosi. Then developer (Dzimbeck) took over the project himself. Now this project going well and price is recovering.

Bittrex has the biggest wallet as i remember and you can ask David for his wallets address. This coin has so much holders with millions maximum and thousands minimum. There​ Will be panic sells at every new price floor bay enters.

However dumping won't last long only temporary. Wait for peg later this year. David will deliver his promises to this coin.

[HVCC]

All these people complaining about a dip - should have bought last week   just a little market turbulence. I think anyone who has spent time in the Slack knows that this is one of the best communities in crypto, perhaps more time should be spent projecting this within the Bitcointalk forum.

[Munti]

All these people complaining about a dip - should have bought last week   just a little market turbulence. I think anyone who has spent time in the Slack knows that this is one of the best communities in crypto, perhaps more time should be spent projecting this within the Bitcointalk forum.

I'd like to show our general channel from slack on our site. Does anyone know if that is possible?

[rowenta01]

All these people complaining about a dip - should have bought last week   just a little market turbulence. I think anyone who has spent time in the Slack knows that this is one of the best communities in crypto, perhaps more time should be spent projecting this within the Bitcointalk forum.

It is indeed an excellent community!

And a developer who is very present also to answer any questions.

It is an honest project, transparent, and with extraordinary technology.

[toknormal]

Yes yes it looks just like that....
Who is dumping all those coins? what is happening !?

The market's doing fine. Growth is steady and consistent but in any growing market there are periods of overheating. Whales (who monitor these things) detect the overheating and use those points to dump on high volume. The exact same thing's happening in the bitcoin market right now.

Bitbay has been setting progressively higher trading floors over the last few months. But once the floor is set, it regularly trades up to 70% above the consolidated level at various points. Right at the top of those spikes is never a great entry point, but in general it's growing so hopefully the market will eventually reach your entry point again. It may just take a while.

[cryptohunter]

whales still accumulating this nobody who wants out for max profits just throws up 10btc walls above market ask price. They are whales who dont want it rising too fast and want to accumulate more.

10k sats will be starting to get nearer to where we should be now.... after api and pegging and all the other features then who except ethereum perhaps can justify their position above bay? there are a few projects that people could argue rival bays scope but that's based upon their dreams and talk roadmaps. Their actual working and tested code well.....

[R-J-F]

whales still accumulating this nobody who wants out for max profits just throws up 10btc walls above market ask price. They are whales who dont want it rising too fast and want to accumulate more.

10k sats will be starting to get nearer to where we should be now.... after api and pegging and all the other features then who except ethereum perhaps can justify their position above bay? there are a few projects that people could argue rival bays scope but that's based upon their dreams and talk roadmaps. Their actual working and tested code well.....

Good points cryptohunter! Lots of new coins and ICOs out there with big promises and dreams, BAY on the other hand, has working technology today. Big difference...

 

[cryptohunter]

whales still accumulating this nobody who wants out for max profits just throws up 10btc walls above market ask price. They are whales who dont want it rising too fast and want to accumulate more.

10k sats will be starting to get nearer to where we should be now.... after api and pegging and all the other features then who except ethereum perhaps can justify their position above bay? there are a few projects that people could argue rival bays scope but that's based upon their dreams and talk roadmaps. Their actual working and tested code well.....

Good points cryptohunter! Lots of new coins and ICOs out there with big promises and dreams, BAY on the other hand, has working technology today. Big difference...

 

Exactly, some of these road maps presented by other projects assume apparently they will solve issues that would result in them getting  nobel prizes apparently lol. I think i'll await the finished and working code thanks all the same

[gamonster]

Hello guys,

I was looking some crypto to invest, then found bitbay and get excited this currency fundaments and also the recently market growth. After this, I've decided to buy some and hold.

However, I've got some doubts about how BAY can handle about common marketplacess existent problems and the specifics decentralized marketplace challenges. Lets use ebay as parameter.

On ebay we have a lot of dishonest people (buyers/sellers). Its very common the ebay staff intervention to solve many kind of problems with transactions and many times those problems aren't solved.

The honest people of the ebay community (buyers/sellers) have a certain security about transaction and sales, even the problem was caused by thirds (like post offices, etc). This security is what bring a mass of buyers and big sellers to ebay plataform.

If to decentralized need to attract big sellers and a large mass of buyers to be successful, how bitbay can do this if the envolved have to trust on each other honesty? How bitbay system can force a fair solution about the transactions problem? Who will judge who is right? If I buy some product from a chinese seller and I don't receive, on my side "never received the product" on his side "I sent", who will prevail?

I know bitbay has a qualification system but this is enough to bring feeling of safety to sellers/buyers?

I still excited about bitbay, my intention here is just ask questions that I made to myself.

[Munti]

Hello guys,

I was looking some crypto to invest, then found bitbay and get excited this currency fundaments and also the recently market growth. After this, I've decided to buy some and hold.

However, I've got some doubts about how BAY can handle about common marketplacess existent problems and the specifics decentralized marketplace challenges. Lets use ebay as parameter.

On ebay we have a lot of dishonest people (buyers/sellers). Its very common the ebay staff intervention to solve many kind of problems with transactions and many times those problems aren't solved.

The honest people of the ebay community (buyers/sellers) have a certain security about transaction and sales, even the problem was caused by thirds (like post offices, etc). This security is what bring a mass of buyers and big sellers to ebay plataform.

If to decentralized need to attract big sellers and a large mass of buyers to be successful, how bitbay can do this if the envolved have to trust on each other honesty? How bitbay system can force a fair solution about the transactions problem? Who will judge who is right? If I buy some product from a chinese seller and I don't receive, on my side "never received the product" on his side "I sent", who will prevail?

I know bitbay has a qualification system but this is enough to bring feeling of safety to sellers/buyers?

I still excited about bitbay, my intention here is just ask questions that I made to myself.

BitBay uses double deposit escrow (DDE) in addition to a reputation system.
Default for DDE is that both buyer and seller put up a deposit that is 100% the value og the transaction. If everything goes smoth, they will release (simultaniously) the deposit. If one of them tries to cheat, the deposit will not be released, and the scammer has gained nothing.

[gamonster]

Hello guys,

I was looking some crypto to invest, then found bitbay and get excited this currency fundaments and also the recently market growth. After this, I've decided to buy some and hold.

However, I've got some doubts about how BAY can handle about common marketplacess existent problems and the specifics decentralized marketplace challenges. Lets use ebay as parameter.

On ebay we have a lot of dishonest people (buyers/sellers). Its very common the ebay staff intervention to solve many kind of problems with transactions and many times those problems aren't solved.

The honest people of the ebay community (buyers/sellers) have a certain security about transaction and sales, even the problem was caused by thirds (like post offices, etc). This security is what bring a mass of buyers and big sellers to ebay plataform.

If to decentralized need to attract big sellers and a large mass of buyers to be successful, how bitbay can do this if the envolved have to trust on each other honesty? How bitbay system can force a fair solution about the transactions problem? Who will judge who is right? If I buy some product from a chinese seller and I don't receive, on my side "never received the product" on his side "I sent", who will prevail?

I know bitbay has a qualification system but this is enough to bring feeling of safety to sellers/buyers?

I still excited about bitbay, my intention here is just ask questions that I made to myself.

BitBay uses double deposit escrow (DDE) in addition to a reputation system.
Default for DDE is that both buyer and seller put up a deposit that is 100% the value og the transaction. If everything goes smoth, they will release (simultaniously) the deposit. If one of them tries to cheat, the deposit will not be released, and the scammer has gained nothing.

Thanks for your explanation.

I've actually read about this but really don't know if it will works in major situations, because sellers and buyers have too freeze some amount of capital to warranty the transaction.

Just imagining as a seller point of view: if I want to grow my salles, I need liquidity of my capital fast as possible, if I do some business that last some time to be completed and until it's completely done my money will be frozen, why use this plataform?

Also, if both parts don't release their deposit, what will happen to the warranty bays?

[ScoobyDood]

Hello guys,

I was looking some crypto to invest, then found bitbay and get excited this currency fundaments and also the recently market growth. After this, I've decided to buy some and hold.

However, I've got some doubts about how BAY can handle about common marketplacess existent problems and the specifics decentralized marketplace challenges. Lets use ebay as parameter.

On ebay we have a lot of dishonest people (buyers/sellers). Its very common the ebay staff intervention to solve many kind of problems with transactions and many times those problems aren't solved.

The honest people of the ebay community (buyers/sellers) have a certain security about transaction and sales, even the problem was caused by thirds (like post offices, etc). This security is what bring a mass of buyers and big sellers to ebay plataform.

If to decentralized need to attract big sellers and a large mass of buyers to be successful, how bitbay can do this if the envolved have to trust on each other honesty? How bitbay system can force a fair solution about the transactions problem? Who will judge who is right? If I buy some product from a chinese seller and I don't receive, on my side "never received the product" on his side "I sent", who will prevail?

I know bitbay has a qualification system but this is enough to bring feeling of safety to sellers/buyers?

I still excited about bitbay, my intention here is just ask questions that I made to myself.

BitBay uses double deposit escrow (DDE) in addition to a reputation system.
Default for DDE is that both buyer and seller put up a deposit that is 100% the value og the transaction. If everything goes smoth, they will release (simultaniously) the deposit. If one of them tries to cheat, the deposit will not be released, and the scammer has gained nothing.

Thanks for your explanation.

I've actually read about this but really don't know if it will works in major situations, because sellers and buyers have too freeze some amount of capital to warranty the transaction.

Just imagining as a seller point of view: if I want to grow my salles, I need liquidity of my capital fast as possible, if I do some business that last some time to be completed and until it's completely done my money will be frozen, why use this plataform?

Also, if both parts don't release their deposit, what will happen to the warranty bays?

Quote from Dave's interview on this same question, hope this helps (I was wondering how that worked)....

CCN — How can there be no arbiter? What happens when there are disputes?

DZ — It is probably easiest to start a comparison by looking at the way EBay handles disputes. On EBay, if you are the seller, and the buyer has a complaint, EBay always sides with the buyer. If the buyer said something was not what they were expecting for any reason, Ebay forces the seller to give a full refund, and in addition pay for return shipping, no matter what the truth is.

Alternatively, BitBay has unbreakable contracts where both the buyer and seller make a deposit as part of the contract. If there are unresolvable problems, the deposits on the contract for both parties are lost. People either work together to resolve any issues, or both parties lose. When everything works out, both parties close the contract and the deposits are returned.   

[dzimbeck]

Hello guys,

I was looking some crypto to invest, then found bitbay and get excited this currency fundaments and also the recently market growth. After this, I've decided to buy some and hold.

However, I've got some doubts about how BAY can handle about common marketplacess existent problems and the specifics decentralized marketplace challenges. Lets use ebay as parameter.

On ebay we have a lot of dishonest people (buyers/sellers). Its very common the ebay staff intervention to solve many kind of problems with transactions and many times those problems aren't solved.

The honest people of the ebay community (buyers/sellers) have a certain security about transaction and sales, even the problem was caused by thirds (like post offices, etc). This security is what bring a mass of buyers and big sellers to ebay plataform.

If to decentralized need to attract big sellers and a large mass of buyers to be successful, how bitbay can do this if the envolved have to trust on each other honesty? How bitbay system can force a fair solution about the transactions problem? Who will judge who is right? If I buy some product from a chinese seller and I don't receive, on my side "never received the product" on his side "I sent", who will prevail?

I know bitbay has a qualification system but this is enough to bring feeling of safety to sellers/buyers?

I still excited about bitbay, my intention here is just ask questions that I made to myself.

BitBay uses double deposit escrow (DDE) in addition to a reputation system.
Default for DDE is that both buyer and seller put up a deposit that is 100% the value og the transaction. If everything goes smoth, they will release (simultaniously) the deposit. If one of them tries to cheat, the deposit will not be released, and the scammer has gained nothing.

Thanks for your explanation.

I've actually read about this but really don't know if it will works in major situations, because sellers and buyers have too freeze some amount of capital to warranty the transaction.

Just imagining as a seller point of view: if I want to grow my salles, I need liquidity of my capital fast as possible, if I do some business that last some time to be completed and until it's completely done my money will be frozen, why use this plataform?

Also, if both parts don't release their deposit, what will happen to the warranty bays?

Ebay takes a large % of the deal, their arbiters do not resolve disputes. If you are buyer, seller sends you an empty box or if you are seller and are returned an empty box you lose. Ebay will just guess.  Arbiters drive up cost and know nothing of the truth. Liars will always win in the deal. Worst case they pay for the item best case they steal it.

Double deposit - both parties put a deposit and if they lie/cheat their funds blow up BOTH LOSE. This type of contract favors HONEST people. A liar can't possibly win because he will lose more trying to steal than he profits! The incentive to lie is removed liars get demolished.

Also, deposits can be customized. So you can lower them if you are a power seller moving 1000 dollars of merchandise a day and are honest, people will probably only make you put up 20%... and if you move that much that should be nothing for your to put up.

And of course there are NO FEES so you just make an enormous amount more here than you would in any other system. The funds are only frozen for the duration of a deal which may be a few days. A small bit of patience to destroy deception from society (one of the worlds biggest issues).

[CryptoKidd]

1 billion coins in circulation?!  Why would anyone buy knowing that there are a billion coins in peoples wallets, most waiting to be dumped? That's a pretty tough a wall for most investors to climb.

[cryptohunter]

1 billion coins in circulation?!  Why would anyone buy knowing that there are a billion coins in peoples wallets, most waiting to be dumped? That's a pretty tough a wall for most investors to climb.

I also feel people who make these comments need a lot more education before investing real money.

Number of tokens means 0 when making investment decisions.

The distribution of the tokens and MC are far more important. More important still is the real value of the project in the context of others here.

Why would people be waiting to dump at 30m when there are projects with 100M to 1B with less going for them.