BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Munti]

is bittrex supporting your next fork at 30 november?

Yes. They are already using the new wallet.

@Munti: Do the bay coins get staked when they are on bittrex or do they have to be on the client / wallet to get staked? (sorry if its a silly questions (newbie  )

All exchanges will stake the coins, just logical and profitable for them. Yes they need to be in a wallet to be staked.

No. You do not get any stake when you keep your coins on Bittrex.

Edit: And so far I have not seen Bittrex stake their hot wallets. And certainly not their cold wallet.

I know the customers don't get the stake funds, the exchange keeps it as a bonus.

Not Bittrex. They don't stake.

How do you know for sure? Just logical they would.

Because we have been monitoring their wallets.
And it's not logical they would. They are very focused on security, and there are theoretical attack vectors when staking. That's why David developed what we call cold staking.

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[LuckyLeprachaun]

is bittrex supporting your next fork at 30 november?

Yes. They are already using the new wallet.

@Munti: Do the bay coins get staked when they are on bittrex or do they have to be on the client / wallet to get staked? (sorry if its a silly questions (newbie  )

All exchanges will stake the coins, just logical and profitable for them. Yes they need to be in a wallet to be staked.

No. You do not get any stake when you keep your coins on Bittrex.

Edit: And so far I have not seen Bittrex stake their hot wallets. And certainly not their cold wallet.

I know the customers don't get the stake funds, the exchange keeps it as a bonus.

Not Bittrex. They don't stake.

How do you know for sure? Just logical they would.

Because we have been monitoring their wallets.
And it's not logical they would. They are very focused on security, and there are theoretical attack vectors when staking. That's why David developed what we call cold staking.

Did not think of that, thanks for clarifying. How does cold staking work versus the standard method? Did not even know Bitbay qt used a different staking system.

[Munti]

is bittrex supporting your next fork at 30 november?

Yes. They are already using the new wallet.

@Munti: Do the bay coins get staked when they are on bittrex or do they have to be on the client / wallet to get staked? (sorry if its a silly questions (newbie  )

All exchanges will stake the coins, just logical and profitable for them. Yes they need to be in a wallet to be staked.

No. You do not get any stake when you keep your coins on Bittrex.

Edit: And so far I have not seen Bittrex stake their hot wallets. And certainly not their cold wallet.

I know the customers don't get the stake funds, the exchange keeps it as a bonus.

Not Bittrex. They don't stake.

How do you know for sure? Just logical they would.

Because we have been monitoring their wallets.
And it's not logical they would. They are very focused on security, and there are theoretical attack vectors when staking. That's why David developed what we call cold staking.

Did not think of that, thanks for clarifying. How does cold staking work versus the standard method? Did not even know Bitbay qt used a different staking system.

Qt has ordinary staking. The client has cold staking.
"Cold staking" is a bit of a misnoumer here, but we use it because it gives you security that is getting close to a cold wallet if you use all security measures we have.
You can use two computers for staking, keeping one key on each computer. Password protect the keys of course, and then hide them inside a picture that you store amongst hundreds or thousands of other pics. Add the anti keylogger as well, and you should be very safe. An attacker would have to find both computers, hack them, then find the pics, and then crack the passwords. You have to be very talented and extremly motivated to pull that off!

[LuckyLeprachaun]

is bittrex supporting your next fork at 30 november?

Yes. They are already using the new wallet.

@Munti: Do the bay coins get staked when they are on bittrex or do they have to be on the client / wallet to get staked? (sorry if its a silly questions (newbie  )

All exchanges will stake the coins, just logical and profitable for them. Yes they need to be in a wallet to be staked.

No. You do not get any stake when you keep your coins on Bittrex.

Edit: And so far I have not seen Bittrex stake their hot wallets. And certainly not their cold wallet.

I know the customers don't get the stake funds, the exchange keeps it as a bonus.

Not Bittrex. They don't stake.

How do you know for sure? Just logical they would.

Because we have been monitoring their wallets.
And it's not logical they would. They are very focused on security, and there are theoretical attack vectors when staking. That's why David developed what we call cold staking.

Did not think of that, thanks for clarifying. How does cold staking work versus the standard method? Did not even know Bitbay qt used a different staking system.

Qt has ordinary staking. The client has cold staking.
"Cold staking" is a bit of a misnoumer here, but we use it because it gives you security that is getting close to a cold wallet if you use all security measures we have.
You can use two computers for staking, keeping one key on each computer. Password protect the keys of course, and then hide them inside a picture that you store amongst hundreds or thousands of other pics. Add the anti keylogger as well, and you should be very safe. An attacker would have to find both computers, hack them, then find the pics, and then crack the passwords. You have to be very talented and extremly motivated to pull that off!

Interesting, thanks for explaining  

[toknormal]

If I don't get my wallet upgraded before Nov 30th will I loose all my Bitbay ?

What's the worst that can happen ?

[rqdxrocket]

Hello,

  Volume is up, the price has risin and holding pretty steady, the Bitbay Market has several things listed for sale, the Bitbay team is keeping to the roadmap.

Its a great time to own Bitbay

Thanks
RQDxRocket

[Munti]

If I don't get my wallet upgraded before Nov 30th will I loose all my Bitbay ?

What's the worst that can happen ?

No. But you will not be able to have any transactions with wallets that are upgraded. So no blockexplorer, and no sending to or receiving from exchanges.

[cryptohunter]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

[rqdxrocket]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

[cryptohunter]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

i couldn't agree more.

The great thing is we have so much more than most projects but there is scope for even more to be added that will increase value before the peg.


I would expect 50 cents - 1 dollar is not impossible per bay before the peg is switched on and indeed that would be sensible for a fully functioning polished version of the bitbay roadmap in relation to other projects and what they ACTUALLY offer. I mean I would say this exceeds what is offered by almost every other alt with the exception of perhaps eth.

There are only a handful of projects that come close to being as interesting as bitbay with proven devs like david. Those caps are magnitudes higher than bays.

[BitBaydev]

Monday 27th November sees the release of the new BitBay web wallet, the first application in our new "BitBay Easy" development line.

To read about the new wallet, our reasons for building it and future projects check out the latest press release here: https://blog.bitbay.market/bitbays-web-wallet-b0edad801f8e

[Guido]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

i couldn't agree more.

The great thing is we have so much more than most projects but there is scope for even more to be added that will increase value before the peg.


I would expect 50 cents - 1 dollar is not impossible per bay before the peg is switched on and indeed that would be sensible for a fully functioning polished version of the bitbay roadmap in relation to other projects and what they ACTUALLY offer. I mean I would say this exceeds what is offered by almost every other alt with the exception of perhaps eth.

There are only a handful of projects that come close to being as interesting as bitbay with proven devs like david. Those caps are magnitudes higher than bays.

agree on all that
wish I had more than I have. which is not much but am looking forward to staking as the current 1.5 is pointless really, the 20 is worth it which is coming soon

[easypeasy]

exciting times ahead for the bay token hopefully

high five or whatever for the main dev david and the rest of the team, bitbay is definitely taking on a more professional/polished appearance

the tech has been there for a while but so far went under the radar, think now it will start to make ground on other less deserving alts

[00cryptomaniac00]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

i couldn't agree more.

The great thing is we have so much more than most projects but there is scope for even more to be added that will increase value before the peg.


I would expect 50 cents - 1 dollar is not impossible per bay before the peg is switched on and indeed that would be sensible for a fully functioning polished version of the bitbay roadmap in relation to other projects and what they ACTUALLY offer. I mean I would say this exceeds what is offered by almost every other alt with the exception of perhaps eth.

There are only a handful of projects that come close to being as interesting as bitbay with proven devs like david. Those caps are magnitudes higher than bays.

do you think this will reach .50? maybe after 3years.. hehe..

[cryptohunter]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

i couldn't agree more.

The great thing is we have so much more than most projects but there is scope for even more to be added that will increase value before the peg.


I would expect 50 cents - 1 dollar is not impossible per bay before the peg is switched on and indeed that would be sensible for a fully functioning polished version of the bitbay roadmap in relation to other projects and what they ACTUALLY offer. I mean I would say this exceeds what is offered by almost every other alt with the exception of perhaps eth.

There are only a handful of projects that come close to being as interesting as bitbay with proven devs like david. Those caps are magnitudes higher than bays.

agree on all that
wish I had more than I have. which is not much but am looking forward to staking as the current 1.5 is pointless really, the 20 is worth it which is coming soon

Exactly at last some incentive to hold other than just the advancements in tech that david is providing. I think there can be even greater expansion in this giving incentives to accumulate and save bitbay.

Also I kind of like the direction we are going now.

1. making accessible to laymen and others who do not want the hassle of using most blockchain based currency
2. making it easy for businesses and others to use bay under-the-hood and build out applications on top of bitbay core.
Once the api is ready and other dev teams can build things on top of bitbay I think you could see extreme vertical growth.

would be nice to make it easy for other projects to launch their own projects using bitbay as they can with eth and other platforms in the future.



even with the current roadmap completed there are still so many other ways to build and attract people to bay...

I'm excited about the peg but I think it should be pushed back until bay reaches a sensible valuation for what it provides already. I would target 1 dollar.

Once the market place takes off it will crush ebay on international purchases as soon as sellers/buyers realise there is probably 30% or greater profits here on the product alone. The new auto included international fees are ludicrous on ebay now. It has killed the import/export market for small traders. This will change with bitbay.  The peg will be very useful for the marketplace to really take off huge but once it does it will suck up so many bitbays in DDE contracts that I don't think many persons realise the possible effect that could actually have.

The market place as an ebay replacement though is but one tiny use case for bitbay. I mean the applications are almost endless.

The most frustrating part is just waiting for it all to happen but at last progress is tangible and it is nice to see the bitbay team growing and helping david with things even if it is not core coding. Still the help with testing and other tasks is apparent now. I hope they can keep growing and growing this team.

A funding mechanism is the next big thing that we need to think about but I think the savings bonds could certainly provide not only that but extra incentives to accumulate and hold.

So for instance you are saving not only for extra interest but also for the knowledge that you are donating partially to extra development that again cycles around to increasing value of your savings/holdings.

[Cymatoxa]

I have long liked this coin and I always wanted to buy it BUT. As soon as I came here to read about it there are not good people about it wrote very poorly. And I was scared to buy it now very much regret

[DigitalLemming]

Wow glad to see Bitbay is finally getting the attention it deserves. Nice to see a project actually making progress, keep up the good work.

[dzimbeck]

I have long liked this coin and I always wanted to buy it BUT. As soon as I came here to read about it there are not good people about it wrote very poorly. And I was scared to buy it now very much regret

Well what is most important is the quality of the software and project. I've always thought we explained things very well on this thread and are usually quick to respond to questions. We have a pretty large community too so perhaps you didn't ask the right people. Nonetheless if you have any questions we can surely answer them.

[dzimbeck]

im quite interested to see the web wallet and even more interested to see the web market place once it come online.

I hope we can rope in some nice ui and web designers to make it awesome in the near future

Hello,

  I agree Cryptohunter, its been a long tough road but the Davids efforts and everyone involved is finally paying off.  I have yet to see the new web wallet but I have seen glimpses of the upcoming UI redesign.  Everything is much improved but especially the daily volume, that is the most important for the upcoming PEG.

Thanks
RQDxRocket

i couldn't agree more.

The great thing is we have so much more than most projects but there is scope for even more to be added that will increase value before the peg.


I would expect 50 cents - 1 dollar is not impossible per bay before the peg is switched on and indeed that would be sensible for a fully functioning polished version of the bitbay roadmap in relation to other projects and what they ACTUALLY offer. I mean I would say this exceeds what is offered by almost every other alt with the exception of perhaps eth.

There are only a handful of projects that come close to being as interesting as bitbay with proven devs like david. Those caps are magnitudes higher than bays.

agree on all that
wish I had more than I have. which is not much but am looking forward to staking as the current 1.5 is pointless really, the 20 is worth it which is coming soon

Exactly at last some incentive to hold other than just the advancements in tech that david is providing. I think there can be even greater expansion in this giving incentives to accumulate and save bitbay.

Also I kind of like the direction we are going now.

1. making accessible to laymen and others who do not want the hassle of using most blockchain based currency
2. making it easy for businesses and others to use bay under-the-hood and build out applications on top of bitbay core.
Once the api is ready and other dev teams can build things on top of bitbay I think you could see extreme vertical growth.

would be nice to make it easy for other projects to launch their own projects using bitbay as they can with eth and other platforms in the future.



even with the current roadmap completed there are still so many other ways to build and attract people to bay...

I'm excited about the peg but I think it should be pushed back until bay reaches a sensible valuation for what it provides already. I would target 1 dollar.

Once the market place takes off it will crush ebay on international purchases as soon as sellers/buyers realise there is probably 30% or greater profits here on the product alone. The new auto included international fees are ludicrous on ebay now. It has killed the import/export market for small traders. This will change with bitbay.  The peg will be very useful for the marketplace to really take off huge but once it does it will suck up so many bitbays in DDE contracts that I don't think many persons realise the possible effect that could actually have.

The market place as an ebay replacement though is but one tiny use case for bitbay. I mean the applications are almost endless.

The most frustrating part is just waiting for it all to happen but at last progress is tangible and it is nice to see the bitbay team growing and helping david with things even if it is not core coding. Still the help with testing and other tasks is apparent now. I hope they can keep growing and growing this team.

A funding mechanism is the next big thing that we need to think about but I think the savings bonds could certainly provide not only that but extra incentives to accumulate and hold.

So for instance you are saving not only for extra interest but also for the knowledge that you are donating partially to extra development that again cycles around to increasing value of your savings/holdings.

It's funny when consider the laymen, I was just in a conversation yesterday with a person who is a good sounding board for your average consumer. It was good to get feedback. Because as a programmer, we see the technical and overlook the simple explanations we can give people to bridge the gap to the project. We should keep our messages simple and strong. Interestingly he was most excited about the peg and he seemed to easily grasp the ideas because he works in traditional investing. He really loved the idea about variable interest on frozen funds too although I don't know if we will implement that in the first version of the peg. Maybe when we test it with a demo client we can get more user feedback on it.

[rqdxrocket]

Hello,

  Another great day for Bitbay.  Volume at an all time high.  With the staking rewards fix happening soon its never too late to get started.

Thanks
RQDxRocket