BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[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.

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.

Exactly. The idea of variable interest is the fairest way there is to reward the support and belief in this software. It is also an ingrained principle people are already familiar with. Long term bonds and shorter term bonds. So combining  that with also a development funding mechanism.... so the levels of interest exceed the usual level but a portion of that is taken for dev funding too is a win win.

I mean even a decentralised web version of just ebay that works perfectly and is totally free trade (not like ebays) has got to be potentially worth billions but then further to realise this is  not even a minute fraction of a fraction of the potential use cases of bitbay is quite freaky. Quite honestly if bitbay reached even 20% of its possible use cases it would render obsolete huge chunks of middle men business that thrives off of doing little and sucking end users dry.

I also believe knowing david (just a little) that his full plans for bitbay are still not even fully revealed.

These small rises are shaking weak hands out but for me even 1 dollar per bay would only be the start of it reaching mild recognition just within the current crypto community.... that is nothing like going mainstream

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[Munti]

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

Not all time high actually. We had close to 2k btc at the last spike

[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

Not all time high actually. We had close to 2k btc at the last spike

Munti,

  My bad, overall for the past week or so the volume has been really good.

Thanks

[Tonisim]

BitBay’s Web Wallet

https://blog.bitbay.market/bitbays-web-wallet-b0edad801f8e

The most advanced cryptocurrency in the industry is proud to announce the release of a simplified web wallet on the 27th November 2017.

The wallet works as a standalone application and is also compatible for easy integration into websites for payment services. This wallet is step number two out of seven in the “BitBay|Easy” development line that kicked off with BitBay’s recently released block explorer. It provides users the ability to send and receive coins without the need to synchronize to a blockchain.

Providing New Possibilities
Mobile app development — Our mobile app is still scheduled to be released in Q1 of 2018. With the web wallet complete, we can begin integration of the wallet into the App GUI. This will become the first mobile app wallet in the industry with multisignature account capabilities and advanced timelock payment options.

Website Hosted Integration — Now websites have the ability to provide payment options without the regulatory hassle, fraudulent refunds, nor high-end fees associated with standard fiat based payment solutions like credit cards and paypal. Consumers can minimize the amount of private information required for billing information on a website, eliminating fear that a data breach will bring that information into the wrong hands.No private key data is stored on a website host — therefore it’s impossible for a data breach on a website compromising your wallet. This wallet will also increase adoption for ‘easy button’ users.

This can provide a semi-trustless environment for websites to host applications like, poker games, exchanges, binary options, etc.

Future Advanced Features and Applications
Standalone application — We will soon release a standalone version with advanced payment options like timelock transactions and the ability to create multisignature accounts up to 16/16.

Full web integration — Porting our smart contracts and marketplace to web wallet will make the tech more accessible to everyone and thus drive adoption. Businesses will be able to use it “under the hood” for their own solutions. Forums and auction sites will have an easy way to set up a secure marketplace/payment solution with very little effort.
Mobile marketplace — With our roadmap poised to complete the release of the mobile app and bitmessage server in Q1 of 2018, once completed we can begin development of our web based mobile marketplace. This will be a simplified version of our Client’s marketplace.
Conclusion

BitBay recognizes that there are always ‘two sides of the spectrum’. One side demands abiding by the basic principles cryptocurrency was founded upon. Trustless decentralized trade environment is vital for any coin to succeed in the future. While the other side demands an ‘easy button’ approach and is willing to sacrifice some freedoms for the sake of practicality. We believe in providing an option for both. With security being the highest priority, it will help us remain at the top of the leaderboard in terms of functionality for programmable cryptocurrencies.

[bribed]

Hello there, I just found out about BitBay, it really looks amazing, and Im a fan of cryptos that are around for a while and still being cared about. With all those new coins out there, this somewhat gives trust in a coin in my opinion. Can anyone tell me if BitBay got a big community supporting it? Trading volume on Bittrex looking good, I can see that for a start.

[MrKillSwitch]

Can someone tell me if it is right that i see a cup and handle pattern on the 1Day chart? I'm learning to read charts so confirmation would be nice

[rqdxrocket]

Hello there, I just found out about BitBay, it really looks amazing, and Im a fan of cryptos that are around for a while and still being cared about. With all those new coins out there, this somewhat gives trust in a coin in my opinion. Can anyone tell me if BitBay got a big community supporting it? Trading volume on Bittrex looking good, I can see that for a start.

The community is growing daily and it will only get bigger.  Most important of all the Bitbay Market is real and functions as should.  Several things have been sold on the Market already.  I have sold several things myself.

Thanks
RQDxRocket

[Asimmo]

I wonder, what should be done to be listed on Poloniex or Yobit?
Or does the coin plans it at all?

[toknormal]

Can someone tell me if it is right that i see a cup and handle pattern on the 1Day chart? I'm learning to read charts so confirmation would be nice

Wow. I'd say so.

Hadn't noticed that, nice discovery. Look at the volume at the entry, middle and exit from the handle: textbook. Bit of a deep handle but you rarely get them to perfection.

[toknormal]

Ok, decided to do something I'd never normally do.

Run a crypto client under Windows. (Under VM Ware on the Mac).

Downloading Bay QT for Win now.

[Figatko]

I wonder, what should be done to be listed on Poloniex or Yobit?
Or does the coin plans it at all?

Good question! There are problems with bittrex lately. They disable withdrawals without warning, ask for personal verification and sometimes deny to verify. People are worried.
So again we need more exchanges.

[toknormal]

I wonder, what should be done to be listed on Poloniex or Yobit?
Or does the coin plans it at all?

Good question! There are problems with bittrex lately. They disable withdrawals without warning, ask for personal verification and sometimes deny to verify. People are worried.
So again we need more exchanges.

Exchanges are interested in volume.

Bitbay's done $14 million in volume so far today. Used to be about 4 BTC a day if I can remember. (Which would have been more like $3-4000).

It can be quite a liquid market when it gets going and the more interest there is the more liquid it will get. Timing is good because bitcoin is drawing huge amounts of new capital into the sector and Bitbay is starting a new promotional and development wave at the same time.

Caution, careful handling of priorities and steady steering is now needed all round. If no big mistakes are made then volume will continue to rise and exchange listings will follow automatically.

P.S. Improving liquidity is also going to be great for Bitbay's pegging protocol because the more liquid the market is, the more leverage the supply-throttling will have over the price and consequently the less of it will be needed. Eventually the market may peg itself because the mere threat of the blockchain clamp will be enough to prioritise price targets for traders. (Think Mario Draghi..."whatever it takes" Jaw-Jaw effect on Eurozone peripheral bond yields, 2012-2016).

[zuzuca]

and still..i cant believe how far this coin has managed to go... i did not give them any chance

[spiftheninja]

Whats the MAX SUPPLY of BitBay?

Can't find it anywhere!

[bribed]

Ok, decided to do something I'd never normally do.

Run a crypto client under Windows. (Under VM Ware on the Mac).

Downloading Bay QT for Win now.

Can you tell me why you would never do that ? Im curious because Im not very tech savvy (I get wallets to work though) but dont know much about the pro / cons of the different operating systems. Would be happy if you evaluate a bit for me!

[toknormal]

Ok, decided to do something I'd never normally do.

Run a crypto client under Windows. (Under VM Ware on the Mac).

Downloading Bay QT for Win now.

Can you tell me why you would never do that ?

I'm just paranoid. I see Windows as the most rat infested, virus ridden, keyboard logging , attack prone operating system in existence. I also imagine that Microsoft stuff has more back doors than a city centre brothel so I generally try to avoid it for normal stuff, never mind for storing skyrocketting cryptocurrencies on.

[Munti]

Whats the MAX SUPPLY of BitBay?

Can't find it anywhere!

You find current supply here: https://chainz.cryptoid.info/bay/
Supply grows with 1% pr year (meaning it will probably decrease in reality because of lost passwords etc.)

[Munti]

Ok, decided to do something I'd never normally do.

Run a crypto client under Windows. (Under VM Ware on the Mac).

Downloading Bay QT for Win now.

Can you tell me why you would never do that ?

I'm just paranoid. I see Windows as the most rat infested, virus ridden, keyboard logging , attack prone operating system in existence. I also imagine that Microsoft stuff has more back doors than a city centre brothel so I generally try to avoid it for normal stuff, never mind for storing skyrocketting cryptocurrencies on.

If paranoia is the reason, you should consider linux cubes. Several members of the team are using it successfully I think.

[toknormal]

If paranoia is the reason, you should consider linux cubes. Several members of the team are using it successfully I think.

Yes. Good idea.

I'm not a linux geek but there are some good GUIs around. Maybe I could run that in the VM instead.

[toknormal]

BAY pulling away now, well inside the 900 Sat "arena"

Walls @ 950 and 960 demolished. Volume also ramping up. Over $16 million for the day so far. Starting to break out of that little "cup' formation at the end of the 2 month bowl on the BTC ratio.



15-minute volume over the last 5 hours...