BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[j-bar]

when I lost 100K BLK through not keeping multiple backups

Ouch.

That must have hurt a bit.

It did :/ - but I am over it now and bought some more Taught me a good hard life lesson though.....

[1714659980]

1714659980

[1714659980]

1714659980

[j-bar]

Make multiple secure backups of your keys (encrypt the backups). I store mine on an encrypted drive and two USB keys - learnt my lesson when I lost 100K BLK through not keeping multiple backups.

Actually in the wizard i recommend two backup methods. Emailing your keys to yourself and using an optical drive. Like a DVD. Because old hard drive backups will fail and expire after a couple years. It happened to me and i lost an immense amount of data. So DVDs dont expire especially m-discs. Also another way is to print out the contents of the file on a piece of paper.

Encrypted and sent by email as well - but DVD will also be good

[dzimbeck]

Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.

It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.

So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.

But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.

[silavon]

David thank you for the positive words. It's very interesting for future investors...

[Gizfreak]

Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.

It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.

So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.

But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.

The pegging story makes sense to me, but the first priority imo would indeed be a working Windows client no matter what version is being used.

[Kevinrasf]

Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.

It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.

So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.

But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.

The pegging story makes sense to me, but the first priority imo would indeed be a working Windows client no matter what version is being used.

Yep lets first fix the current release, then look at MAC client or smoother UI.

The pegging can come later , but is 1 of the most important things.

[dzimbeck]

Well the current release works on most of the computers we tested on considering we had a few thousand downloads and only a handful of people not able to run it. Mostly because of openssl. The reason Giz wasnt able to run it was because he is running windows 8 and we need to test for that.

But Kevin, you should let me know if we can screen share at some point so i can troubleshoot your error as well.

[toknormal]

i am new to bitbay

bought some when ico started on bter

 

These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.

Just sayin 

[zoata87]

i am new to bitbay

bought some when ico started on bter

 

These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.

Just sayin 

i bought some, didnt care about it since eco ended. now i am back

[zoata87]

i am new to bitbay

bought some when ico started on bter

 

These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.

Just sayin  

it must be one of David's shills running a muck!

get your glass of warm milk, it's bedtime.

[Gizfreak]

get your glass of warm milk, it's bedtime.

lmao 

[neo1947]

 l still keep my bays since ico and have no intentions to sell some an other year.again Thanks David and rest  

[silavon]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

[Kevinrasf]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

We will first fix the wallets.

So we have a solid platform.


The pegging will come later since there is much to take care of first

[silavon]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

We will first fix the wallets.

So we have a solid platform.


The pegging will come later since there is much to take care of first

I think that we could attract more users. When we are about ninety space coinmarketcap we are not very interesting for potential users and investors. It was not meant badly. This is just my thought...

[issie81]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

We will first fix the wallets.

So we have a solid platform.


The pegging will come later since there is much to take care of first

I think that we could attract more users. When we are about ninety space coinmarketcap we are not very interesting for potential users and investors. It was not meant badly. This is just my thought...

How the F do you want to attract more users if the wallet don't work properly, we need to address the issue i am also having issues AFAIK this happens with Windows8. I think with most customers Windows8 is the most choosen OS and also for future Windows7 is outphased by April, so we need to focus on Windows8 because it's also futureproof.

[fox19891989]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

Lol, are you kidding? I don't think Bitbay will go up, how much per bitbay is pegging?

[spookycoins]

Lol, are you kidding? I don't think Bitbay will go up, how much per bitbay is pegging?

Hopefully no more than $.01 at first.
Either way, I'm sure fixing the wallet issue is priority right now.

[issie81]

Oops i am doing it again:)
it has been way to long (check bittrex)

Bob wanna dump on me?

[dzimbeck]

It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
 

We will first fix the wallets.

So we have a solid platform.


The pegging will come later since there is much to take care of first

I think that we could attract more users. When we are about ninety space coinmarketcap we are not very interesting for potential users and investors. It was not meant badly. This is just my thought...

How the F do you want to attract more users if the wallet don't work properly, we need to address the issue i am also having issues AFAIK this happens with Windows8. I think with most customers Windows8 is the most choosen OS and also for future Windows7 is outphased by April, so we need to focus on Windows8 because it's also futureproof.

I see a lot of people talking about it not running windows 8. You realize that is an entirely different build. Its the same at vista or 98. Every version of windows is different with all service packs. But actually our website shows bithalo downloaded a few hundred times a day and mostly windows 7. There was very few people who reported issues. And a majority of our visitors use Mac. Windows 8 is not as popular as 7 yet. Regardless, making it cross platform is not the kind of thing to have happen over night. It will be the next thing i work on though.

Issie what issue are you having? Can you send me an email with a time we can talk on skype or do teamviewer? Anyone who has issues on windows 7 can solve them if they install openssl or simply contact me directly. Also, none of the issues are directly with Bitbay but with bitbayd or bitmhalo which is the headless daemon or bitmhalo which is bitmessage which requires openssl.

In the directory you will see libeay32.dll and there are two of them for different windows builds. If those dont work, then install openssl. Later i can see if i can include it in the installer.