BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[BitBayDoc]

BitBay - The World's 1st Decentralized Stablecoin and Marketplace - buy, sell, trade anything - with no fees or middlemen. WOW
Unlike other Crypto's with pie-in-the-sky projections - Bay is ready to roll NOW with an incredible Wall of Active Features (https://bitbay.market/features)
Plus, BitBay has the most awesome video explaining what it does: https://bitbay.market/decentralized-marketplace

Everybody on this thread needs to get 5 people set up with the BitBay Marketplace Client. The people of the world do not know we are here - yet.
We are coming out of an ass-kicking bear market - this is the best g-damn deal on the planet right now and no one will lose money a year from now.
Let's actively try to expand our base - Cryptos are still a VERY small market.
BAY has practical use applications that are functioning, this will and should be a top 10 coin...
It's Craigslist meets Ebay meets Amazon meets Alibaba, etc., on a profound truly decentralized stable (upcoming peg) blockchain - and its fast too!

From BitBayDev:

We've just published an updated 'quick guide to the Dynamic Peg', including some key benefits for investors and traders.

Have a read now:

https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf

Shorn,
Project Manager @ BitBay

[1715687847]

1715687847

[1715687847]

1715687847

[1715687847]

1715687847

[Bell4tex]

The valuation still looks pretty insane. There have been severe warnings and can only pray not too many have been ruined. The bear market in 2018 was a brutal reminder when it burst so hard. There is no reason it should come back, because 2018 was the big clean out - it were washed out, down the pipe, into the dark hole. A big black hole where it can`t come back.

[BitBayDoc]

What are you babbling about Bell4tex?  Are you a bot?
Are you a naughty bot?

Hey! Hopefully everyone saw that spike to .023799 around midnight the other night.
That was pretty cool.

[BitBayDoc]

BitBay - The World's 1st Decentralized Stablecoin and Marketplace - buy, sell, trade anything - with no fees or middlemen. WOW
Unlike other Crypto's with pie-in-the-sky projections - Bay is ready to roll NOW with an incredible Wall of Active Features (https://bitbay.market/features)
Plus, BitBay has the most awesome video explaining what it does: https://bitbay.market/decentralized-marketplace

Everybody on this thread needs to get 5 people set up with the BitBay Marketplace Client. The people of the world do not know we are here - yet.
We are coming out of an ass-kicking bear market - this is the best g-damn deal on the planet right now and no one will lose money a year from now.
Let's actively try to expand our base - Cryptos are still a VERY small market.
BAY has practical use applications that are functioning, this will and should be a top 10 coin...
It's Craigslist meets Ebay meets Amazon meets Alibaba, etc., on a profound truly decentralized stable (upcoming peg) blockchain - and its fast too!

From BitBayDev:

We've just published an updated 'quick guide to the Dynamic Peg', including some key benefits for investors and traders.

Have a read now:

https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf

Shorn,
Project Manager @ BitBay

[ptcgroup10009]

when you click on the individual items description on the web market place can everyone scroll down or is it just my machine that is making the scroll bar appear like it is frozen and i can only see a bit of the description. ... it well may be my machine since I use a tiny res mini laptop because I am always mobile and never anywhere suitable for a larger machine. Plus it's rather old.

Great to see some better things getting listed too.

I wonder for potential metals sellers where the market tracks up and down if one day in the future we could get some kind of kitco tracking bot and it moves their listing prices up and down on the market place ... so they could list their entire inventory on bitbay and the prices will track up and down as spot moves up and down? or is that not even possible once the selling process is initiated.

Nice to see bitbay moving up even against btc strongly today. Not many are.
[/quote




The scroll problem is with the brave browser , use anther browser like fire fox chrome or edge and you can scroll with no problem. The dev know about the problem.

[BitBayDoc]

Team Bay:
I'm looking for a Blog update.
Everything else looks great, works great (very fast transactions) and is on schedule. Thanks

[TuDaMu]

New Bitbay block chain explorer, multilingual one!

Check this multilingual Bitbay explorer providing the latest block info and some data analysis.

bay.tokenview.com/en

Hello.

1st time I've got Connection Timeout.
2nd time is loading very slowly still waiting to finish and already 5 minutes have passed.

loading resources from  "cdn.bootcss.com" is hanging a lot.

Just optimize our node to fix load issues.
The access should be much quicker now
bay.tokenview.com

[BitBayDoc]

@TuDaMu & Dev Team
If you just fixed the connection speed and optimized the Custom Multilingual Block Explorer (it seems to be running great now btw - thanks!), than the goal on the Roadmap page of BitBay.market of "A redesigned, custom-built explorer for $BAY" has moved from its current "Coming Soon" column, past the "In Progress" column to Completed 2019.  

Just FYI to update the Roadmap & Blog - It's nice to see things getting done ahead of schedule - Congratulations!

Recap for Potential Investors:
Bay is in the process of Active Peg Demo Exchange Testing now.
Bay is testing a Live Active Beta Web Decentralized Marketplace now.
Both will be historical milestones... and completed soon. Think about that.

In the meantime, Bay COMPLETED IN 2018
New Qt Wallets, Enhanced Web Wallet, Mobile Wallet App, Buy/Sell Anything Template, New Client GUI, In-wallet Fiat/Bay Purchasing, Staking Calculator, Multilingual Website Launch, Hire Template Release, Web Marketplace - UI preview, Barter Template, API and Programmable Smart Contracts, Dynamic Peg Whitepaper, Web Marketplace - Demo Version, Dynamic Peg - Test version, Dynamic Peg - Start Public Tests, Web Marketplace Demo Updates, BitBay Block Processor, A custom-built block processor, removing the reliance on ElectrumX for transaction processing, Web Marketplace Live Wallet, Release of the WMP live wallet including sending, receiving and storing $BAY, Android and Web Wallet Upgrades, Integration of the Android app and web wallet with the new custom block processor resulting in faster transactions, BitBay Community Projects, Launch of the new community dev projects and rewards initiative...
Not Too Bad!

[BitBaydev]

We are pleased to announce that Dynamic Peg testing has started on the demo exchange.
After this first round of testing we will be opening the exchange to anyone who wants see the Dynamic Peg in action.

We are also testing v0.4 of the web marketplace this week with a view to rolling out the new features asap. This next release includes user avatars, an improved account section, and important item shipping info for the item view.

More updates soon!

Thanks,
Shorn.

[ptcgroup10009]

Just got my first items from the webmarketplace

demo.bitbay.market


https://i.postimg.cc/y885fB7j/20190411-160029.jpg

[dzimbeck]

Just got my first items from the webmarketplace

demo.bitbay.market

Awesome, markets are filling up nicely as well.

[BitBaydev]

After a couple of months with “technical difficulties” OEX have finally prepared our listing announcement:

https://www.oex.com/noticeInfo/95

-----------------

“BitBay (BAY) is launching on OEX.com

Launching Time : 28 April 2019, 11:00 (GMT +8)
Deposit Time : 28 April 2019, 11:00 (GMT +8)
Trading Time : 29 April 2019, 11:00 (GMT +8)
Withdrawal Time : 30 April 2019 11:00 (GMT +8)
Trading Zone : BTC”

------------------

[shaydinblue]

I own a screen printing business and listed some shirts on the market place. I am very impressed with the marketplace and it makes me excited to be invested and now involved in Bitbay (technically I'm a Bitbay merchant, right). I'm also invested in another decentralized marketplace crytpo and Bitbay is light years ahead of that project. I think the future is very bright for Bitbay...

I have a question or two about the market itself. If someone places an order with me, will there be an opportunity for them to specify what size shirt they want or what color if there are color variations? Can the buyer converse with me once they place the order? It's hard to tell what happens when an order is placed until someone places one with me.

Another question: Right now there is currently no fee to list an item. Will this always be the case or is there a plan to add a fee? It seems like some sort of fee will be necessary to deter spammy/excessive posts. Just wondering...


Another thought: The double deposit escrow is a really cool idea to get two parties who know nothing about each other to trust each other in order to conduct business and transact. Both parties have to put some skin in the game so it's in their best interest to make sure the transaction goes smoothly. It's design to keep everybody honest, protect both parties and eliminate bad actors. But what's to prevent someone from abusing this system to drive their competition out of business, similar to the way Amazon sells things at loss sometimes until their target competitor has to throw in the towel.

For example what if a large/wealthy merchant placed a substantial dollar amount worth of orders with a smaller/less wealthy competitor, there by locking up a bunch of Bay from both parties in a series of double deposit escrow contracts. The small/less wealthy merchant packages up the orders and sends them out, thinking he's going to make a bunch of money. When the evil wealthy merchant receives the goods, he disputes some arbitrary thing about the order and refuses to release the locked up Bay from the double deposit escrow contract, screwing the smaller merchant. Yes the larger/wealthy merchant would lose money in this case, but they are willing to take the hit in order to cripple their competition, because it would benefit them more in the long run. The smaller/less wealthy merchant would take a big hit, losing the Bay they locked up in the contract and the product/goods that they sent to bad actor. If a really large/wealthy merchant did this sort of attack on a smaller competitor enough, couldn't they essentially use the double deposit escrow system to pay to put their competition out of business? I know that this is an unlikely scenario and doesn't make a lot of sense, but capitalism is strange and sometimes makes no sense. If Amazon is willing to sell things at a loss to kill off the competition, it seems feasible that a large merchant might be willing to eternally lock up some Bay in some contracts to eliminate a smaller competing merchant by locking up all of his working capital in the same contracts, or am I just overly pessimistic about the spirit of capitalism?


I know the market is not complete yet and there are probably many more features that will be added. Is there someplace to give feedback about he market and see what feedback others have given? Looking forward to seeing the market progress...

[BitBayDoc]

@shaydinblue - Good Questions
The one question I think I can answer is the one about a large player coming in and pushing out the little guys or gals.
Long Story Short:  If someone screws someone even ONE TIME, it goes on their "record" for not completing a deal and losing both parties escrow.
So... fool me once, shame on you; fool me twice, shame on me.
Conclusion - Don't do a huge transaction where you have a lot to lose if it doesn't go through; unless you have a history of dealing with them in the past.
Remember - There is also no set amount for a deposit. It can be $1 or $1000. Chose according to risk.

And THIS is worth repeating from bitbaydev:

After a couple of months with “technical difficulties” OEX has finally prepared our listing announcement:

https://www.oex.com/noticeInfo/95

-----------------

“BitBay (BAY) is launching on OEX.com

Launching Time : 28 April 2019, 11:00 (GMT +8)
Deposit Time : 28 April 2019, 11:00 (GMT +8)
Trading Time : 29 April 2019, 11:00 (GMT +8)
Withdrawal Time : 30 April 2019 11:00 (GMT +8)
Trading Zone : BTC”

[dzimbeck]

I own a screen printing business and listed some shirts on the market place. I am very impressed with the marketplace and it makes me excited to be invested and now involved in Bitbay (technically I'm a Bitbay merchant, right). I'm also invested in another decentralized marketplace crytpo and Bitbay is light years ahead of that project. I think the future is very bright for Bitbay...

I have a question or two about the market itself. If someone places an order with me, will there be an opportunity for them to specify what size shirt they want or what color if there are color variations? Can the buyer converse with me once they place the order? It's hard to tell what happens when an order is placed until someone places one with me.

Another question: Right now there is currently no fee to list an item. Will this always be the case or is there a plan to add a fee? It seems like some sort of fee will be necessary to deter spammy/excessive posts. Just wondering...


Another thought: The double deposit escrow is a really cool idea to get two parties who know nothing about each other to trust each other in order to conduct business and transact. Both parties have to put some skin in the game so it's in their best interest to make sure the transaction goes smoothly. It's design to keep everybody honest, protect both parties and eliminate bad actors. But what's to prevent someone from abusing this system to drive their competition out of business, similar to the way Amazon sells things at loss sometimes until their target competitor has to throw in the towel.

For example what if a large/wealthy merchant placed a substantial dollar amount worth of orders with a smaller/less wealthy competitor, there by locking up a bunch of Bay from both parties in a series of double deposit escrow contracts. The small/less wealthy merchant packages up the orders and sends them out, thinking he's going to make a bunch of money. When the evil wealthy merchant receives the goods, he disputes some arbitrary thing about the order and refuses to release the locked up Bay from the double deposit escrow contract, screwing the smaller merchant. Yes the larger/wealthy merchant would lose money in this case, but they are willing to take the hit in order to cripple their competition, because it would benefit them more in the long run. The smaller/less wealthy merchant would take a big hit, losing the Bay they locked up in the contract and the product/goods that they sent to bad actor. If a really large/wealthy merchant did this sort of attack on a smaller competitor enough, couldn't they essentially use the double deposit escrow system to pay to put their competition out of business? I know that this is an unlikely scenario and doesn't make a lot of sense, but capitalism is strange and sometimes makes no sense. If Amazon is willing to sell things at a loss to kill off the competition, it seems feasible that a large merchant might be willing to eternally lock up some Bay in some contracts to eliminate a smaller competing merchant by locking up all of his working capital in the same contracts, or am I just overly pessimistic about the spirit of capitalism?


I know the market is not complete yet and there are probably many more features that will be added. Is there someplace to give feedback about he market and see what feedback others have given? Looking forward to seeing the market progress...

On the markets client you download you can absolutely sort out details of the deal with the client through the messaging system. On the online markets I'm sure a similar feature is intended and that market will also be decentralized. There is no reason to ever charge fees. I will absolutely never endorse this. There was a few different anti-spam methods laid out in my specifications. The first is simply requiring progressively higher POW the more orders you post (each time doubling it) or simply limiting the IP address if they appear to spam. Another option is forcing a timelocked payment to yourself so that can make a user only temporarily have to tie up funds if they post too much. Currently in the downloadable client because it's Bitmessage and Bitmessage requires POW per kilobyte, no defense is required. On the web markets any of the above options is acceptable.

In the markets client, there is a feedback system. On the web markets a similar system will be used. Most importantly as pointed out by Doc you can track how many contracts a user blows up by looking at the blockchain and simply force them to dramatically increase their deposits the more they blow up contracts. If some competition is very wealthy and tries this there is a saying that goes "a fool and his money will soon be parted". The idea since the beginning was always to transition society from a world run by liars to a world run by honest people. This transition no matter how slow, can start to happen with double deposit. Since this is a game that favors the honest party. So the liars may go down kicking and screaming, but they will eventually go down if they use this system.

[sieemma]

hello sir, I pay bitcoins through your payment gateway to skrill. I don't understand the fees system. You have set your fees and when I am sending, I pay the fees myself instead of deducting it from the fees you have already stated. Is this normal?

[BitBaydev]

hello sir, I pay bitcoins through your payment gateway to skrill. I don't understand the fees system. You have set your fees and when I am sending, I pay the fees myself instead of deducting it from the fees you have already stated. Is this normal?

Hi, I think you may have us confused with another platform? We are BitBay.market. No Skrill payments or fees required here 

[freigeist]

@shaydinblue - Good Questions
The one question I think I can answer is the one about a large player coming in and pushing out the little guys or gals.
Long Story Short:  If someone screws someone even ONE TIME, it goes on their "record" for not completing a deal and losing both parties escrow.
So... fool me once, shame on you; fool me twice, shame on me.
Conclusion - Don't do a huge transaction where you have a lot to lose if it doesn't go through; unless you have a history of dealing with them in the past.
Remember - There is also no set amount for a deposit. It can be $1 or $1000. Chose according to risk.

What prevents the evil large player from creating multiple new accounts to scam people?
That way he will always have a new clean record or not?!

[BitBayDoc]

@freigeist - "What prevents the evil large player from creating multiple new accounts to scam people?
That way he will always have a new clean record or not?!"

If someone wants to spend their valuable time on earth scamming people, creating new multiple accounts, loosing their deposits, etc., I think Bay will eventually be a waste of time for any scammers/bad actors - why?

1. Just because this process of buying and selling may initially start out as anonymous, it certainly doesn't have to end that way.  For example, if I wanted to buy a large ticket item such as a car, I would have to eventually know the persons name, address and phone number to complete a Title Transfer.  Same with Real Estate. All of the sellers information can and should be obtained and checked out BEFORE completing any large deal on any platform (Craig's list, Ebay, etc.) - Right???
2. Again, this is about FREEDOM.  The buyer always has the upper hand and is free to ask that any requests be fulfilled before completing a deal.  If the seller doesn't want to complete a reasonable request for verification, you have the freedom to walk away and not be scammed.
3. This platform is like any other marketplace except its FREE with NO MIDDLEMAN, and CAN BE ANONYMOUS to sell anything.
AND, both players have to have some skin in the game to play (Bay's Double Deposit Escrow) - if that's what both players agree to.
4. One may also utilize a standard contract, with standard safeguards, that are admissible in a court of law if the deal goes sideways.
5. Like any other business transaction in the real world, common sense must rule.

[shaydinblue]

@dzimbeck - Thanks for the detailed answers. Awesome that Bitbay is thinking about finding other ways to deal with spam other than fees. I was not aware that the downloadable client was even more feature packed than the web market, that's excellent. When I first got into BitBay I attempted to download and install the client on my Windows 10 machine, but kept getting a reoccurring OpenSSL error that I couldn't figure out despite a moderate amount of looking for a solution on the BitBay forums. Around that time I took a break from crypto for a while so I never did find the solution and actually get the client working on my computer. When I returned from my break the web market was being rolled out, so I just went straight for that and as I said I am very impressed. I am going to try to download and install the client again, hoping that OpenSSL error has been fixed and I can install and check out the client. This is great project and you are doing a great job leading it.

@BitBayDoc - Thanks for the answers. I know the bad actor scenario I brought up is highly unlikely, was just wondering what would happen if someone tried it. Seems like everything has been well thought out and planned for. BitBay is going to be amazing...