BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[HVCC]

BitBay Community Update - July 24th

● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b

● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.

● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!

● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page

● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.

[Bee Cho Chen]

BitBay Community Update - July 24th

● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b

● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.

● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!

● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page

● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.

Just keep rolling out the good news! I love how everything has been progressing recently.

[dzimbeck]

I was so off with my contest prediction... big mistake

Well who knew that Bitcoin was gonna drag down the entire market overnight? We all knew segwit was locked but I think someone called in a pretty big short on the whole market.

Now that is over it should bounce right back.

[Munti]

BitBay Community Update - July 24th

● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b

● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.

● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!

● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page

● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.

I'm really exited about Bay taking an initiative towards china 

[cryptohunter]

Yes, i'm interested in the china related news too..... any confirmation yet?

[Bee Cho Chen]

Yes, i'm interested in the china related news too..... any confirmation yet?

Same here. The suspense is killing me!

[toknormal]

BAY looking superb @ 860 sats.

2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.

The power of a super-dedicated, trustless escrow-based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.

One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:

 • it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens

 • the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place

 • goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).

That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.

* Why can't this be done simply with a token on the Ethereum blockchain ?

 • because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base

 • because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)

 • because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore consistent with its commercial function

In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.

[dzimbeck]

BAY looking superb @ 860 sats.

2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.

The power of a super-dedicated, trustless escrow based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.

One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:

 • it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens

 • the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place

 • goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).

That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.

* Why can't this be done simply with a token on the Ethereum blockchain ?

 • because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base

 • because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)

 • because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore compatible with its commercial function

In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.

Wow man this is a really excellent and well thought out post. Thanks. I would actually argue it doesn't have bias either because you talk about the engineering. And I would like to add that one major drawback to Ethereum is if you build a token on it and they face scaling issues your sub token will face the same issues. The reason why I love atomic trading is you can connect chains without needing to bulk up a single chain.

Guys I'm working on the next update for exotic spend and then finally we fork. The marketing crew is still doing solid work and I'm happy to see progress on that front perhaps at some point they can chime in on the matter.

[Munti]

BAY looking superb @ 860 sats.

2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.

The power of a super-dedicated, trustless escrow-based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.

One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:

 • it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens

 • the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place

 • goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).

That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.

* Why can't this be done simply with a token on the Ethereum blockchain ?

 • because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base

 • because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)

 • because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore consistent with its commercial function

In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.

Exellent post toknormal! So good to see someone that knows what he is talking about posting here.

For those of you that get confused by the mentioning of mining, staking is also commonly refered to as mining. But just to be clear, BitBay is a POS coin. More specifically POS3.

[HVCC]

Literally couldn't have said it better myself  

[cryptohunter]

Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?

[jjacob]

Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?

I don't think it is specific to bay. A lot of altcoins are down, with people preferring to hold bitcoins. It has a lot to do with the BTC-BCC fork. Once August 1 and the fork is done and dusted, people are going to drift back to the coins they like.

[dzimbeck]

Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?

I don't think it is specific to bay. A lot of altcoins are down, with people preferring to hold bitcoins. It has a lot to do with the BTC-BCC fork. Once August 1 and the fork is done and dusted, people are going to drift back to the coins they like.

Wow good point... still it seems a bit petty as it can cost an investor a lot to move out  and back in especially since the bitcoin cash won't be worth much.

[cr197]

BitBay Community Update - July 31st

Our marketing team has completed their strategy for marketing the future release of the CLTV update.We will spend ample time to market this to various media outlets. As this will be a great milestone for us. BitBay will be the first coin to have checklocktimeverify (CLTV) built into the Client UI - not just some protocol that sits ‘under the hood’.


We wish to thank all the community that has taken the time to complete our marketing survey. If you haven’t already please feel free to do so. Remember, we will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b


The French marketing campaign continues. Our lead marketer, lude, will be speaking  live with the Community "La Baleine"!
And thanks to ‘little_round’ for helping him with this campaign!  


We are please to announce we will be listed on the Chinese BTC100.com exchange! They are currently revamping their website so we will have to wait a couple weeks before the listing will take place.
We’ve been listed on Cryptopia exchange as well!
After the rolling peg, these exchanges will hopefully be able to see the potential we can provide them as a decentralized hedging tool, and the potential to provide them with leverage(margin) trading as well - which will allow them to bypass the red tape involved with utilizing fiat as a leveraging currency!


Our SEO team is making progress. They are busy with our survey, building an SEO ‘turk team’, and pushing to keep our pos. 2 rankings for [bitbay]!


Our graphic designer, fridenhood, completed the draft of the first OP infographic revision bounty. We are make some minor alterations and hope to move to the next 2 ASAP.

As always - thanks for supporting BitBay!

[The Crypto Baron]

BitBay in the Crypto Times top 10 alt coin list: https://youtu.be/-QLXQolfIcw

[dzimbeck]

BitBay in the Crypto Times top 10 alt coin list: https://youtu.be/-QLXQolfIcw

Wow thanks awesome! Thanks for showing us this.

[R-J-F]

BitBay Community Update - July 31st

-SNIP-

Excellent work, you guys rock!

It is so uplifting to see people excited about Bay's future and working together to bring it about. It's been a long time coming. Keep up the great work!

[cryptohunter]

BitBay Community Update - July 31st

Our marketing team has completed their strategy for marketing the future release of the CLTV update.We will spend ample time to market this to various media outlets. As this will be a great milestone for us. BitBay will be the first coin to have checklocktimeverify (CLTV) built into the Client UI - not just some protocol that sits ‘under the hood’.


We wish to thank all the community that has taken the time to complete our marketing survey. If you haven’t already please feel free to do so. Remember, we will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b


The French marketing campaign continues. Our lead marketer, lude, will be speaking  live with the Community "La Baleine"!
And thanks to ‘little_round’ for helping him with this campaign!  


We are please to announce we will be listed on the Chinese BTC100.com exchange! They are currently revamping their website so we will have to wait a couple weeks before the listing will take place.
We’ve been listed on Cryptopia exchange as well!
After the rolling peg, these exchanges will hopefully be able to see the potential we can provide them as a decentralized hedging tool, and the potential to provide them with leverage(margin) trading as well - which will allow them to bypass the red tape involved with utilizing fiat as a leveraging currency!


Our SEO team is making progress. They are busy with our survey, building an SEO ‘turk team’, and pushing to keep our pos. 2 rankings for [bitbay]!


Our graphic designer, fridenhood, completed the draft of the first OP infographic revision bounty. We are make some minor alterations and hope to move to the next 2 ASAP.

As always - thanks for supporting BitBay!

Great news all round.

I hope btc38 will take us on soon too. Although cryptopia is growing well.

I see a lot of hype building over this stox ico. Prediction markets again. Bitbay is ripe for this kind of thing really.
Is there anyway we can issue tokens to fund coding out such things on top of bitbay?
What other ways are there to incentivise groups of developers to start learning to code out specific apps on top of bitbay?
David has provided a core product with such vast scope for specific apps and functions how do we attract and allow other dev teams to fund themselves to develop on top of it. This is the core issue i see when competing head on with other smart contract projects. I mean stratis is 500+M and i see no real reason for it to be 25x the cap of bitbay at all.

[dzimbeck]

BitBay Community Update - July 31st

Our marketing team has completed their strategy for marketing the future release of the CLTV update.We will spend ample time to market this to various media outlets. As this will be a great milestone for us. BitBay will be the first coin to have checklocktimeverify (CLTV) built into the Client UI - not just some protocol that sits ‘under the hood’.


We wish to thank all the community that has taken the time to complete our marketing survey. If you haven’t already please feel free to do so. Remember, we will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b


The French marketing campaign continues. Our lead marketer, lude, will be speaking  live with the Community "La Baleine"!
And thanks to ‘little_round’ for helping him with this campaign!  


We are please to announce we will be listed on the Chinese BTC100.com exchange! They are currently revamping their website so we will have to wait a couple weeks before the listing will take place.
We’ve been listed on Cryptopia exchange as well!
After the rolling peg, these exchanges will hopefully be able to see the potential we can provide them as a decentralized hedging tool, and the potential to provide them with leverage(margin) trading as well - which will allow them to bypass the red tape involved with utilizing fiat as a leveraging currency!


Our SEO team is making progress. They are busy with our survey, building an SEO ‘turk team’, and pushing to keep our pos. 2 rankings for [bitbay]!


Our graphic designer, fridenhood, completed the draft of the first OP infographic revision bounty. We are make some minor alterations and hope to move to the next 2 ASAP.

As always - thanks for supporting BitBay!

Great news all round.

I hope btc38 will take us on soon too. Although cryptopia is growing well.

I see a lot of hype building over this stox ico. Prediction markets again. Bitbay is ripe for this kind of thing really.
Is there anyway we can issue tokens to fund coding out such things on top of bitbay?
What other ways are there to incentivise groups of developers to start learning to code out specific apps on top of bitbay?
David has provided a core product with such vast scope for specific apps and functions how do we attract and allow other dev teams to fund themselves to develop on top of it. This is the core issue i see when competing head on with other smart contract projects. I mean stratis is 500+M and i see no real reason for it to be 25x the cap of bitbay at all.

Well half the stuff on the top has no reason to be there... what is "Bitconnect" what is "Dogecoin". We can build on top of BitBay and that may come in time. First we get the remaining features done and see what happens. It's exciting stuff. We are still years ahead.

[cryptohunter]

BitBay Community Update - July 31st

Our marketing team has completed their strategy for marketing the future release of the CLTV update.We will spend ample time to market this to various media outlets. As this will be a great milestone for us. BitBay will be the first coin to have checklocktimeverify (CLTV) built into the Client UI - not just some protocol that sits ‘under the hood’.


We wish to thank all the community that has taken the time to complete our marketing survey. If you haven’t already please feel free to do so. Remember, we will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b


The French marketing campaign continues. Our lead marketer, lude, will be speaking  live with the Community "La Baleine"!
And thanks to ‘little_round’ for helping him with this campaign!  


We are please to announce we will be listed on the Chinese BTC100.com exchange! They are currently revamping their website so we will have to wait a couple weeks before the listing will take place.
We’ve been listed on Cryptopia exchange as well!
After the rolling peg, these exchanges will hopefully be able to see the potential we can provide them as a decentralized hedging tool, and the potential to provide them with leverage(margin) trading as well - which will allow them to bypass the red tape involved with utilizing fiat as a leveraging currency!


Our SEO team is making progress. They are busy with our survey, building an SEO ‘turk team’, and pushing to keep our pos. 2 rankings for [bitbay]!


Our graphic designer, fridenhood, completed the draft of the first OP infographic revision bounty. We are make some minor alterations and hope to move to the next 2 ASAP.

As always - thanks for supporting BitBay!

Great news all round.

I hope btc38 will take us on soon too. Although cryptopia is growing well.

I see a lot of hype building over this stox ico. Prediction markets again. Bitbay is ripe for this kind of thing really.
Is there anyway we can issue tokens to fund coding out such things on top of bitbay?
What other ways are there to incentivise groups of developers to start learning to code out specific apps on top of bitbay?
David has provided a core product with such vast scope for specific apps and functions how do we attract and allow other dev teams to fund themselves to develop on top of it. This is the core issue i see when competing head on with other smart contract projects. I mean stratis is 500+M and i see no real reason for it to be 25x the cap of bitbay at all.

Well half the stuff on the top has no reason to be there... what is "Bitconnect" what is "Dogecoin". We can build on top of BitBay and that may come in time. First we get the remaining features done and see what happens. It's exciting stuff. We are still years ahead.

I more meant like things on top of ethereum... like this stox ico and augur etc. The perceived value of ethereum waves and stratis is because people see other teams building out apps on top of those core projects. NONE of these on top apps even work yet though. Bitbay is perfect for prediction markets really to be built on top of. Bitbay really is like a more secure less tricky version of ethereum that can provide the basic functioning for useful apps without the complexity that is allowing ethereum based projects to be vulnerable to dao and other such loop holes. I think bitbays api will encourage other dev teams to build on top but  allowing them to crowdfund is harder without them being able to issue their own tokens I guess.