BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Figatko]

Do I understand right that "web and mobile wallets" does not mean marketplace, contracts etc? They are just to store bays?
Or else it would be too good to believe 

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[Munti]

Do I understand right that "web and mobile wallets" does not mean marketplace, contracts etc? They are just to store bays?
Or else it would be too good to believe 

First step is basic wallets. Multisig of course for web wallet. Then we need to expand that to contracts, marketplace etc.

[Figatko]

Thanks for the answers!
After the first impression that was a little bit upsetting, I just understood that "Fully Functional Web Wallet Marketplace" in Q2 2018 – that is great! Really?! About 6-7 months and we'll have it? With the peg and other crazy things?

Guys, if I understand everything correctly we should reach the moon in a few days. Just because of the roadmap. Knowing that BitBay always deliver and fulfill promises.

[cryptohunter]

Now I understand why price went down. People were waiting for pegging in 2017, at least in the beginning of 2018. Now they see that really serious things that could move the price up won't happen in the near future. These things are pegging and Web/mobile marketplace (that allows to attract sellers and buyers). Things like smart contracts does not impress traders much today.
On the other hand, price is extralow anyway, it will not fall much more.

Pegging is something we all look forward to very much. But we are actually getting way ahead of original schedule with this roadmap. Originally we had been talking about starting to develop web and mobile wallets after the peg. And those wallets are a must for our goal of mainstream adoption. The web wallet is also crucial for others to start building their own services on top of our tech. So in reality we are reducing development time with 9-12 months here. Maybe more

I agree with this plan much better to get the user base up and demand built long before we bring in the pegging. I would leave the pegging until nearly all other conceivable development is done. I think though the locking coins away could still be used before though with the tiered levels for locking more bay for longer periods.

Pegging should be introduced not before bay reaches around 25 cents to 50 cents. Once you build usage out on the bay market place supply will become tied up in trades and services not to mention if we reward those saving their bay in the bitbay bank tiered savings bonds. I mean you can withdraw before your term but you will lose the large amounts of interest you have  accrued.

With the multi sig feature it would be easy to have a bitbay online bank that offers high interest bonds that is very safe.

[awill333]

greetings, I am happy to have recently found bitbay! this looks awesome, something the world really needs. we are in the midst of some amazing tech the only question now is will people adopt it or do they prefer the typical exploitative routes of paypal, ebay, merchant bank accounts and all of the other negative and debilitating associative factors of such? this has always been my question for humanity. here in the usa, most of the infrastructure is still based on "technology" invented in the 1800s! how's that for a modern society?! ebay and paypal really have their hooks sunk deep into peoples minds a result of questionable merchants and paranoid people- the fears being played upon to rally support to the ultimate middle men, the real thieves. personally I have trusted several of people to send my products who did not (via western union, etc) and sustained loss, while this loss is nothing comparable to allowing fear and mistrust to run your life causing suspicion and immobilization.

as someone who did run a successful online business using ebay/paypal and then merchant services through bank, I am validated to say, these poorly designed systems are only there to repress our prosperity and siphon our energy. obviously most here already know that, but the real question is when will everyone else wake up and choose they no longer wish to be exploited?

because I no longer will support ebay or paypal or even bother with my own website (ebay and allies pay so much for google adwords and have so many support tickets of customers, they basically strong-armed the entire retail trading market out of business) I found bitbay. PS, how I found bitbay was not through crypto research but using google looking for auction sites that support cryptos..

when I saw bitbay and the systems in place it was of course appealing, and who would not want the ability of global trade with personally secured transactions.. well the merit in this system is awesome and it supports several things I have been saying for the past years, one of which (should be a bumper sticker lol) is F*CK THE MIDDLE MAN.

apologies for profane. other than the brief introduction I am writing here to ask a question about the actual use of the market. I got halo blockchain synced, etc. etc. but now I am looking and it doesnt look like any listings there.. maybe 10 that I can see.. am I missing something? I am assuming there is more going on as I did notice a contest for most listed items in this thread..

I have plans to start a shop on bitbay to showcase my gem and mineral collection that has been accruing for about 20 years now.. I would love to trade for cryptos and since nobody supported the stand-along website (they probably thought it was fraud/scam due to paranoia)  that I built, bitbay seems like the perfect place.

Also a suggestion mode for future versions which may also have been considered but if not, plz consider- ebay stores look great for selling gemstones and they showcase a gallery display and allow for multiple pictures to be uploaded. I know bitbay is new and just starting but for future interest this is something that would attract buyers and sellers, functionality to optionally include a compelling photo gallery. I know its lots of overhead but we have infinity storage and bandwidth these days with the latest tek (j/k) there should be some way.. then we could sell things as art, etc not just coin trades and stuff.

thanks for everything and happy to have found bitbay and offer support.. I dropped US $950 worth of coins to trade for bitbay, got high hopes for this one

[cryptohunter]

greetings, I am happy to have recently found bitbay! this looks awesome, something the world really needs. we are in the midst of some amazing tech the only question now is will people adopt it or do they prefer the typical exploitative routes of paypal, ebay, merchant bank accounts and all of the other negative and debilitating associative factors of such? this has always been my question for humanity. here in the usa, most of the infrastructure is still based on "technology" invented in the 1800s! how's that for a modern society?! ebay and paypal really have their hooks sunk deep into peoples minds a result of questionable merchants and paranoid people- the fears being played upon to rally support to the ultimate middle men, the real thieves. personally I have trusted several of people to send my products who did not (via western union, etc) and sustained loss, while this loss is nothing comparable to allowing fear and mistrust to run your life causing suspicion and immobilization.

as someone who did run a successful online business using ebay/paypal and then merchant services through bank, I am validated to say, these poorly designed systems are only there to repress our prosperity and siphon our energy. obviously most here already know that, but the real question is when will everyone else wake up and choose they no longer wish to be exploited?

because I no longer will support ebay or paypal or even bother with my own website (ebay and allies pay so much for google adwords and have so many support tickets of customers, they basically strong-armed the entire retail trading market out of business) I found bitbay. PS, how I found bitbay was not through crypto research but using google looking for auction sites that support cryptos..

when I saw bitbay and the systems in place it was of course appealing, and who would not want the ability of global trade with personally secured transactions.. well the merit in this system is awesome and it supports several things I have been saying for the past years, one of which (should be a bumper sticker lol) is F*CK THE MIDDLE MAN.

apologies for profane. other than the brief introduction I am writing here to ask a question about the actual use of the market. I got halo blockchain synced, etc. etc. but now I am looking and it doesnt look like any listings there.. maybe 10 that I can see.. am I missing something? I am assuming there is more going on as I did notice a contest for most listed items in this thread..

I have plans to start a shop on bitbay to showcase my gem and mineral collection that has been accruing for about 20 years now.. I would love to trade for cryptos and since nobody supported the stand-along website (they probably thought it was fraud/scam due to paranoia)  that I built, bitbay seems like the perfect place.

Also a suggestion mode for future versions which may also have been considered but if not, plz consider- ebay stores look great for selling gemstones and they showcase a gallery display and allow for multiple pictures to be uploaded. I know bitbay is new and just starting but for future interest this is something that would attract buyers and sellers, functionality to optionally include a compelling photo gallery. I know its lots of overhead but we have infinity storage and bandwidth these days with the latest tek (j/k) there should be some way.. then we could sell things as art, etc not just coin trades and stuff.

thanks for everything and happy to have found bitbay and offer support.. I dropped US $950 worth of coins to trade for bitbay, got high hopes for this one

welcome we need more bay enthusiasts on this board ....please stick around and don't vanish to slack

[Shadow Trader]

Community Announcement - Oct. 9th, 2017

https://twitter.com/BitBayofficial/status/917581754231328769

[dzimbeck]

Hey so just to mention the dates on the roadmap were to give me lots of padding on the time. We will try to be ahead of schedule I'm almost done with the new release.

[dzimbeck]

greetings, I am happy to have recently found bitbay! this looks awesome, something the world really needs. we are in the midst of some amazing tech the only question now is will people adopt it or do they prefer the typical exploitative routes of paypal, ebay, merchant bank accounts and all of the other negative and debilitating associative factors of such? this has always been my question for humanity. here in the usa, most of the infrastructure is still based on "technology" invented in the 1800s! how's that for a modern society?! ebay and paypal really have their hooks sunk deep into peoples minds a result of questionable merchants and paranoid people- the fears being played upon to rally support to the ultimate middle men, the real thieves. personally I have trusted several of people to send my products who did not (via western union, etc) and sustained loss, while this loss is nothing comparable to allowing fear and mistrust to run your life causing suspicion and immobilization.

as someone who did run a successful online business using ebay/paypal and then merchant services through bank, I am validated to say, these poorly designed systems are only there to repress our prosperity and siphon our energy. obviously most here already know that, but the real question is when will everyone else wake up and choose they no longer wish to be exploited?

because I no longer will support ebay or paypal or even bother with my own website (ebay and allies pay so much for google adwords and have so many support tickets of customers, they basically strong-armed the entire retail trading market out of business) I found bitbay. PS, how I found bitbay was not through crypto research but using google looking for auction sites that support cryptos..

when I saw bitbay and the systems in place it was of course appealing, and who would not want the ability of global trade with personally secured transactions.. well the merit in this system is awesome and it supports several things I have been saying for the past years, one of which (should be a bumper sticker lol) is F*CK THE MIDDLE MAN.

apologies for profane. other than the brief introduction I am writing here to ask a question about the actual use of the market. I got halo blockchain synced, etc. etc. but now I am looking and it doesnt look like any listings there.. maybe 10 that I can see.. am I missing something? I am assuming there is more going on as I did notice a contest for most listed items in this thread..

I have plans to start a shop on bitbay to showcase my gem and mineral collection that has been accruing for about 20 years now.. I would love to trade for cryptos and since nobody supported the stand-along website (they probably thought it was fraud/scam due to paranoia)  that I built, bitbay seems like the perfect place.

Also a suggestion mode for future versions which may also have been considered but if not, plz consider- ebay stores look great for selling gemstones and they showcase a gallery display and allow for multiple pictures to be uploaded. I know bitbay is new and just starting but for future interest this is something that would attract buyers and sellers, functionality to optionally include a compelling photo gallery. I know its lots of overhead but we have infinity storage and bandwidth these days with the latest tek (j/k) there should be some way.. then we could sell things as art, etc not just coin trades and stuff.

thanks for everything and happy to have found bitbay and offer support.. I dropped US $950 worth of coins to trade for bitbay, got high hopes for this one

This is a great post. Welcome! Yes well so have you fully researched the power of double deposit escrow aka unbreakable contracts on our site? You will really love it if you saw problems with the eBay format. I really like it when people can testify for the need to eliminate middle men. And you asked a really good question. Will people make the shift and start protecting themselves in their business deals and using products like this?

I think they might, it is just that humanity is like water. They take the path of least resistance so we need to keep making the product more accessible and easy to use. I like the idea of drop shipping and reselling too.

There are only about 10 orders. There was more. However if you sell rare minerals I will buy some! Let us know if you need help walking though the client on Slack.

Although hahaha it's nice to have you post here too like cryptohunter says it's good to have activity on the forums.

[awill333]

your right about the people, it is interested to see humanity at this pivotal point, the new technologies and potential infrastructure shifts being introduced like this.. and what is required for the adoption of these concepts. things like google ebay and facebook were all nothing not too long ago and somehow people flocked to each and chose to support them, resulting in an almost standardization for the way we interact and search the web. I like to call them 'support tickets' that each chooses to subscribe to whichever/whatever service eventually empowering those services to monopolize the markets. I watched the internet grow from nothing and couldn't imagine that it would become what it is now.. and looking at it now with these new blockchain technologies being introduced it almost makes the internet of the past seem primitive. In ten years of so things will probably be very different in the way we communicate and interact. Also I think we are ahead of the game in our thinking sometimes, always true innovation is.

I haven't fully researched or conceptualized what can be done with DDE but the concept is fascinating. Looking forward to using it. And thanks such a great innovation. The client seems fairly self explanatory, should be easy to add some listings, although a bit time consuming perhaps. I will see what I can do in the near future to have some on the market.

now all we need is a mass exodus from ebay to bitbay lol

[stupid_seb]

your right about the people, it is interested to see humanity at this pivotal point, the new technologies and potential infrastructure shifts being introduced like this.. and what is required for the adoption of these concepts. things like google ebay and facebook were all nothing not too long ago and somehow people flocked to each and chose to support them, resulting in an almost standardization for the way we interact and search the web. I like to call them 'support tickets' that each chooses to subscribe to whichever/whatever service eventually empowering those services to monopolize the markets. I watched the internet grow from nothing and couldn't imagine that it would become what it is now.. and looking at it now with these new blockchain technologies being introduced it almost makes the internet of the past seem primitive. In ten years of so things will probably be very different in the way we communicate and interact. Also I think we are ahead of the game in our thinking sometimes, always true innovation is.

I haven't fully researched or conceptualized what can be done with DDE but the concept is fascinating. Looking forward to using it. And thanks such a great innovation. The client seems fairly self explanatory, should be easy to add some listings, although a bit time consuming perhaps. I will see what I can do in the near future to have some on the market.

now all we need is a mass exodus from ebay to bitbay lol

bitbay market is great, but having to download a full client for it reduces the amount of people who could use it by 99%.

[Kira Tan]

Hey so just to mention the dates on the roadmap were to give me lots of padding on the time. We will try to be ahead of schedule I'm almost done with the new release.

Any news in the rest of this month David?

[dzimbeck]

Hey so just to mention the dates on the roadmap were to give me lots of padding on the time. We will try to be ahead of schedule I'm almost done with the new release.

Any news in the rest of this month David?

Well we are on schedule. So should be testing the new build soon with core.

[awill333]

hi, I just put my first offer on bitbay and now I have a few thoughts about it, hopefully this is an appropriate venue to place them

although I did not become thoroughly well versed with all of the logistics parameters of the system it seems apparent that the use of the DDE requires me to place deposits which are pulled from the wallet as the orders are listed. this is a fundamental hindrance to people listing what they have for obvious reasons, and could become problematic to lift off and adoption. the way it relates to me directly in the now is that I don't have $20,000K worth of bitbay or that much fiat with which to purchase them (if that was the choice) .. However, the inventory of minerals is far greater than that, and even with a half deposit of bitbay (compared to the sale price of the item) I find this to be a relevant limiting parameter.

before starting to list I had guessed that perhaps the bitbay would draw from the balance at the time of the order. So here I am presenting a solution which may be considered for future implementation. with a bit of clever coding it should be no problem to prevent double spend and any other potentially problematic situations as a result of: allow the people listing the items to not be limited to the amount of listings they can place based on their balance. the balance should be left in the wallet where it belongs, not tied up in the bitbay system out of my hands. I can say that this (the current situation) will prevent me from listing much more as the 30,000 bay that I just picked up the other night will come nowhere near allowing me to even get started.  

so with this consideration in mind it would be easy to allow a seller to list let's say $100K worth of inventory and the items would not be available for purchase in real-time unless the balance was available. this may mean that the seller can have one transaction 'in the works' which puts all of the other listings on pause (based on the actual available balance in real time) .. once that transaction is success the balance will go back and the other listings would 'unpause' . in this way a seller could build up BAY coins while at the same time allowing for a full inventory to be listed. As it stands I would have to come out of pocket in a relevant way just to support the listings. with some modifications much inventory would be listed while simply not allowing it to be purchased if the coin was not in the wallet. apologies if I am being redundant. no offense but I am seeing this criteria as a critical flaw with the adoption of the system. the system should allow people to build up their wealth (coins) from a starting point, not a huge investment of real money into the system just to list things.

I would very much like to use bitbay and continue to list items but I have drawn the line at what I am willing to invest at this time. I will guess that for anyone approaching this system they will likely have a similar perspective.

I was going to laughably suggest a bot to draw people (sellers) from ebay using their messaging system and invite them with some sort of promotional to sell on bitbay! ha ha but ebay does not charge the people money when they show up. they simply will allow the accounts to function in a 'probationary' mode which limits the total listings they can place and also (paypal) does not pay them until the customer releases the payment (with positive feedback). in this way the new people who show up to ebay do not have to 'buy in' and although slowly and with great taxation they are allowed to build trust.

[dzimbeck]

hi, I just put my first offer on bitbay and now I have a few thoughts about it, hopefully this is an appropriate venue to place them

although I did not become thoroughly well versed with all of the logistics parameters of the system it seems apparent that the use of the DDE requires me to place deposits which are pulled from the wallet as the orders are listed. this is a fundamental hindrance to people listing what they have for obvious reasons, and could become problematic to lift off and adoption. the way it relates to me directly in the now is that I don't have $20,000K worth of bitbay or that much fiat with which to purchase them (if that was the choice) .. However, the inventory of minerals is far greater than that, and even with a half deposit of bitbay (compared to the sale price of the item) I find this to be a relevant limiting parameter.

before starting to list I had guessed that perhaps the bitbay would draw from the balance at the time of the order. So here I am presenting a solution which may be considered for future implementation. with a bit of clever coding it should be no problem to prevent double spend and any other potentially problematic situations as a result of: allow the people listing the items to not be limited to the amount of listings they can place based on their balance. the balance should be left in the wallet where it belongs, not tied up in the bitbay system out of my hands. I can say that this (the current situation) will prevent me from listing much more as the 30,000 bay that I just picked up the other night will come nowhere near allowing me to even get started.  

so with this consideration in mind it would be easy to allow a seller to list let's say $100K worth of inventory and the items would not be available for purchase in real-time unless the balance was available. this may mean that the seller can have one transaction 'in the works' which puts all of the other listings on pause (based on the actual available balance in real time) .. once that transaction is success the balance will go back and the other listings would 'unpause' . in this way a seller could build up BAY coins while at the same time allowing for a full inventory to be listed. As it stands I would have to come out of pocket in a relevant way just to support the listings. with some modifications much inventory would be listed while simply not allowing it to be purchased if the coin was not in the wallet. apologies if I am being redundant. no offense but I am seeing this criteria as a critical flaw with the adoption of the system. the system should allow people to build up their wealth (coins) from a starting point, not a huge investment of real money into the system just to list things.

I would very much like to use bitbay and continue to list items but I have drawn the line at what I am willing to invest at this time. I will guess that for anyone approaching this system they will likely have a similar perspective.

I was going to laughably suggest a bot to draw people (sellers) from ebay using their messaging system and invite them with some sort of promotional to sell on bitbay! ha ha but ebay does not charge the people money when they show up. they simply will allow the accounts to function in a 'probationary' mode which limits the total listings they can place and also (paypal) does not pay them until the customer releases the payment (with positive feedback). in this way the new people who show up to ebay do not have to 'buy in' and although slowly and with great taxation they are allowed to build trust.

Hey so let me explain why it is a bad idea to allow listing of items without forcing the reservation of funds. The reason is of course because of double spend but also because the limited number of inputs in an account. The BitBay Halo software breaks coins into multiple denominations of inputs for exactly this purpose so users can enjoy small and large orders without tying up their entire balance. Bitcoin itself works like a cash system so it's not possible to deduct X from your account without tying up inputs greater than that.

The thing is, when you say you have something for sale and you aren't reserving those inputs, then you might not actually have those inputs when the time comes. If you have multiple orders, all competing for the same input, logistically you would not be able to handle the incoming offers anyway because the inputs are stuck broadcasting. Also the seller wouldn't potentially have the money for the deposits anyways in that case.

What you will end up finding is the coding is very clever and designed for this exact purpose. This was definitely considered in advance, to handle lots of volume. Indeed it is other market designs that will not handle the volume when we will.

Now here is another thing and this is fairly important. When you list using custom contracts, you have no ability to set quantity. However in Cash for Coins, you do. That is because the templates are designed for a much more advanced user interaction with the markets.

So if you had a large volume of gems, instead of reposting them over and over, you can have a single order with quantity and inventory. Thus all the orders that come in could be bids.

A trusted seller may also not be asked to put 50%. Even 25% is a pretty good amount because he will be the one to ship first, putting him out the item and the amount placed to prevent extortion. Since the sellers deposit is to prevent extortion and bad quality items.

Nobody would want to wait for a seller to be on hold or pause while waiting for an escrow to clear either. The reason is when you are shipping something it can take up to a week. The buyer will want to review the item make sure it is as described before even thinking to release escrow.

As a seller you might want to consider your daily volume. If a seller has high volume chances are he will quickly get the BitBay he needs for deposits.

I would say a seller starting out if buyers wanted to take the "risk" so to speak the seller could offer a 25% deposit on his end and that at least binds him in some way.

So I also would say setting a quantity in the Buy/Sell anything template essentially does what you are describing since all offers come in as counters and bids and the buyer would only be able to accept if he had enough inputs for those. Perhaps it is best to understand how Bitcoin actually works and see how inputs and outputs are structured. We have a video sort of scratching the surface to explain it.
https://www.youtube.com/watch?v=gJfxHWJ576c

By the way thanks for the feedback. We will get there one step at a time.

And actually I took your order for the tourmaline. This way you can get used to the process. Also you mention lack of photos in your order I should point out that I do think the description field allows basic HTML and also you might consider a link to imgur with more photos.

[awill333]

-quote
Hey so let me explain why it is a bad idea to allow listing of items without forcing the reservation of funds. The reason is of course because of double spend but also because the limited number of inputs in an account. The BitBay Halo software breaks coins into multiple denominations of inputs for exactly this purpose so users can enjoy small and large orders without tying up their entire balance. Bitcoin itself works like a cash system so it's not possible to deduct X from your account without tying up inputs greater than that.

The thing is, when you say you have something for sale and you aren't reserving those inputs, then you might not actually have those inputs when the time comes. If you have multiple orders, all competing for the same input, logistically you would not be able to handle the incoming offers anyway because the inputs are stuck broadcasting. Also the seller wouldn't potentially have the money for the deposits anyways in that case.

What you will end up finding is the coding is very clever and designed for this exact purpose. This was definitely considered in advance, to handle lots of volume. Indeed it is other market designs that will not handle the volume when we will.

Now here is another thing and this is fairly important. When you list using custom contracts, you have no ability to set quantity. However in Cash for Coins, you do. That is because the templates are designed for a much more advanced user interaction with the markets.

So if you had a large volume of gems, instead of reposting them over and over, you can have a single order with quantity and inventory. Thus all the orders that come in could be bids.
-

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the suggestion was disallow spending more than the wallets available balance while checking in realtime (time of order) the balance and presenting the potential customer with an order that either 'available now' or 'paused'. if the balance was not present at the time of the customer viewing the listings it would show paused, while still allowing the listings to be present and viewed by the customer.  the balance would be pulled from the wallet when the customer actually chose to proceed which would then disable additional customers from opening any more orders if the balance was not available. about listing multiples of a single listing, this is not possible for the materials that I have as each is unique. I will further explore the potential of what the system can do and perhaps that could be useful for other application but for now each item that I have is unique which would require plenty of money in escrow to even really get started.
---

-quote
A trusted seller may also not be asked to put 50%. Even 25% is a pretty good amount because he will be the one to ship first, putting him out the item and the amount placed to prevent extortion. Since the sellers deposit is to prevent extortion and bad quality items.
-

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I have no issues putting the 50% down and even 100% would be fine if the listings were able to showed. I think there is something to the psychology behind a deposit percentage. this is all new stuff so it's interesting to experiment with the results. as a new seller or an active one, placing at least 50% deposit does show something to the potential customer as to the intention. of course nobody wants to lose their money
---

-quote:
Nobody would want to wait for a seller to be on hold or pause while waiting for an escrow to clear either. The reason is when you are shipping something it can take up to a week. The buyer will want to review the item make sure it is as described before even thinking to release escrow.
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I don't agree that nobody would wait. There could be a button that tells the seller of a customers interest which would cause the seller to deposit more funds. so there wouldnt be much waiting. If the item were unable to be viewed then nobody would ever know. and if it was a unique item that somebody actually did want at a good price, they would wait. especially now this is relevant because there is not a ton of people selling the same items. a reconfig on the some parameters would result in a much bigger listing database which is reciprocal to invite the customers. I don't think if the logic was placed at the right 'tier' of the code, it would introduce any problematic results. I do think it would be wise however to force a deposit to place have the listings viewable at all, to prevent spam of course.
---

-quote
As a seller you might want to consider your daily volume. If a seller has high volume chances are he will quickly get the BitBay he needs for deposits.
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with what I sell, there isn't high daily volume. they are rare collectibles that don't have a large throughput. having the inventory able to be seen by the 'right person' is important. as it stands, I do plan to cycle back all of the BAY that I have to present listings when I have a bit of time to do so. and if the results are earnings then those too will be cycled back to present more items. it still is a relevant limitation parameter but it is doable. I am not just considering myself with this suggestion but the ability of the entire system to gain traction. I am considering what each person who shows up that could be listing their items, how they will feel about it and what is a possibility for them.
---

-quote
I would say a seller starting out if buyers wanted to take the "risk" so to speak the seller could offer a 25% deposit on his end and that at least binds him in some way.

So I also would say setting a quantity in the Buy/Sell anything template essentially does what you are describing since all offers come in as counters and bids and the buyer would only be able to accept if he had enough inputs for those. Perhaps it is best to understand how Bitcoin actually works and see how inputs and outputs are structured. We have a video sort of scratching the surface to explain it.
https://www.youtube.com/watch?v=gJfxHWJ576c
-

-------
I have a fair understanding of how bitcoin works with the utxos and whatnot. I did notice that a single large deposit that was placed to the bithalo wallet had suggestion to split it up.. so I have considered this. but it's not so relevant if the transaction is simply prevented without that utxo available.
---

-quote
By the way thanks for the feedback. We will get there one step at a time.

And actually I took your order for the tourmaline. This way you can get used to the process. Also you mention lack of photos in your order I should point out that I do think the description field allows basic HTML and also you might consider a link to imgur with more photos.
-

of course I am very happy to help and participate in this project. I found bitbay just a few days ago it will require some moments for myself and the world (lol) to have understanding of what is actually relevant with a system like this. nothing like this has been available for people until this technology was presented! so thank you kindly for that. also, much gratitude for the mineral purchase, it is a liberating feeling to exchange to cryptos and not  fiat!

and as an afterthough the imgur is a good suggestion I didn't consider thanks. I can post some links on the future listings. kind greetings!

[cryptohunter]

we need to be a bit careful about low volume... don't want to get bittrex delisting.. worth chucking in a few buys and even sells if you're mad enough to sell at this rate.

Pass this on to slack where we have a lot of bay followers.

[dzimbeck]

...

Hey so I realize you think that you can just deduct when an order starts to fund but it doesn't work like that. Specific inputs need to be signed and then arranged peer to peer in order to broadcast and also arrange the other advanced commitments like the bomb tx. It's maybe something you could argue is a flaw in bitcoins design. However until we have things like lightning transactions it's really not realistic to over-engineer a way to not commit inputs.

The software is very strict. I very carefully do accounting on everything. This helps educate users on accounting, not to delegate funds they don't have and really helps scale things. In fact, this system was built to scale. There is no other Bitcoin software in existence that I'm aware of that does such complex change and input management.

I do know what you are saying in terms of your inventory. Like lets say you are a seller and hold 100k usd worth of gems and want to list half your inventory so the software is going to want at least 25k worth of inputs with a little padding assuming you put 50%.

However... a seller can even put 10% up if this is a concern. In your case you can in theory offer a nominal deposit. There are even guarantor contracts where you don't deposit however I would not recommend a buyer to take a guarantor with a high deposit on their end and low or non-existent on the other. So at least putting a nominal 5-10% of item value should be more than enough to get started and then when you really start selling gems and things kick off you can offer higher deposits on your inventory.

Think about where things are headed with any type of advancement in lightning networks or (maybe) some DPOS improvements we can start to see faster transactions and then be okay with being a little more lenient. However it is still not ideal to have a bunch of inventory listed that you are unable to deposit on. It would depend on your daily volume I suppose. Like if you predict it to be low enough to have the funds to deposit to somehow return to you. However please remember your X% will be locked in escrow!! And it will be locked for the entire duration of the shipment process which could be a couple weeks. You definitely do not want to backlog users nor "pause" anyone as they will turn somewhere else to buy. At the time being I cannot allow that as it would be a big design flaw and against the theory of a UTXO system to boot. There is also something else to consider and that is when we have the peg, maybe we can find a clever way to use frozen funds as collateral.

[HVCC]

BitBay Community Update - Oct. 15th, 2017

https://www.reddit.com/r/BitBay/comments/76l6l8/bitbay_community_update_oct_15th_2017/

[Munti]

OP is now updated with new infographics