BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[dzimbeck]

".com" is not a big deal anymore in this day and age... I assure you that using .com will have almost no impact on our investment. People aren't just going to randomly flock to BitBay just because it's dot com and not dot market. I'm pretty sure almost everyone else on the forum agrees. What makes coins successful is the liquidity and exposure to lots of exchanges which is what we don't have. Either way, please feel free to redirect the dot com you have to the current bitbay site as I'm sure that would be useful. Thanks Doc, as always for your support and enthusiasm.

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[BitBayDoc]

BTW - I also own: NightTraderExchange.com; .net & .org. Also, NightTraderDEX.com; .net & .org.
...to mitigate another highly obvious and potential boner, state of confusion or Three Stooges poke in the eye waiting to happen.
Those domains are being forwarded to NightTrader.org (ugh... which is still waaaaay better than bitbay.market ).
I am doing my best to support the project 110%, 24/7/365.

[BitBayDoc]

BitBayCoin.com is now live if anyone cares to look.
If you've already seen it when you read this, refresh the screen.

It will serve the following purposes:
1. Differentiate us from the Polish Exchange at bitbay.net;
2. Make a written record of the fact so no one has to guess anymore if we are related. If someone is looking for bitbay.market (the "coin") they will run across this landing page sooner or later and get their answer;
3. It's for simple clarity of a confusing situation; it had to be done sooner or later;
4. Drive interested traffic to bitbay.market and NightTrader.org.

I could not take the BS around this stupid subject anymore... Now I feel better. We all should.
It should make all our lives a little easier.

[anonimogmr]

I think it was a good idea to buy that domain. A .com domain is seen as more trustworthy and is easier to remember. Even though it won't change much about BitBay's exposure it is still a good step.

[dzimbeck]

BitBayCoin.com is now live if anyone cares to look.
If you've already seen it when you read this, refresh the screen.

It will serve the following purposes:
1. Differentiate us from the Polish Exchange at bitbay.net;
2. Make a written record of the fact so no one has to guess anymore if we are related. If someone is looking for bitbay.market (the "coin") they will run across this landing page sooner or later and get their answer;
3. It's for simple clarity of a confusing situation; it had to be done sooner or later;
4. Drive interested traffic to bitbay.market and NightTrader.org.

I could not take the BS around this stupid subject anymore... Now I feel better. We all should.
It should make all our lives a little easier.

Thanks Doc, I appreciate it. Lets chat sometime over the week. Cheers!

[BitBayDoc]

DZ - You are very welcome brother.
I am here for you, the team and the projects. Cheers.

[BitBayDoc]

NEXT: Getting rid of the bad BAY press. In this case, I think it's just confused press. Again - the name bitbay being the culprit for a drop kick in the face by Media.
I just wrote this to an uninformed writer spreading disinformation here: https://cointelegraph.com/news/800k-bitbay-users-face-2nd-unscheduled-outage-this-year:

Turner Wright
CoinTelegraph.com
3-9-2021


Dear Turner,

My name is _____ _____ __ and I am an investor with bitbay.market. The coin, not the Estonian exchange.

Most people, and apparently yourself, get bitbay.market (BAY) and bitbay.net (BitBay) the Estonian exchange confused all the time.
This is because most investors don't realize there are 2 separate BitBay's in the crypto world. I understand.

We are actively working on remedying this confusion; but in the meantime, articles such as your piece written on Oct. 12, 2020 titled "800K BitBay users face 2nd unscheduled outage this year", on CoinTelegraph.com don't help our cause (BAY) because we get the headlines along with the Estonia exchange - and it's not us.

This a very serious concern. Current and potential investors in bitbay.market, have seen your article and freak out thinking it's us.
Therefore, to mitigate further and ongoing damage from your article, I am respectfully asking that you immediately:

A. Remove the article altogether; or
B. Clarify at the end of every mention of the word(s) BitBay you add the word "Exchange"; in this and all future articles about the exchange.
And, when referring to us (specifically) BAY you add the word "Coin" at the end of every mention of the word(s) BitBay.

For example - the title of your article should be modified to read: "800K BitBay Exchange users..."
And when writing about us - "BitBay Coin "Dynamic Peg" is a proven winner - it works!"
We feel this would greatly help remedy the unintended confusion and damage to our brand by your article.

Believe it or not, we found it necessary to put up a site to specifically address the difference between the coin and the exchange.
Much of the more recent confusion we traced comes from your one (1) article! Please go to https://bitbaycoin.com/ to see for yourself.
I just learned of your article being the more recent major culprit here after a conference call with other team members.

We believe you probably did not do it on purpose with malicious intent; however, we are letting you know now that you and your publisher will be held financially responsible for any ongoing inaccurate information promulgated by your article in question.

I personally don't feel at this time we need to contact CoinTelegraph about you correcting the article yourself, unless you would like us too.
We feel (being published writers ourselves) you can certainly remove it or fix it quicker than they can - and we are counting on you to do just that. It's the right thing to do to avoid any further confusion originating from this article.

We would very much appreciate this article be corrected or removed within the next 24-48 hours (you could be sipping tea somewhere and not at a computer), or sooner.

If you would like to write an article about this interesting situation we both find ourselves in, I would be happy to sit down for an interview.

Thank You in advance and best regards,

_____ _____ __

[dzimbeck]

Doc you win more bees with honey.

[BitBayDoc]

Coin Telegraph reply to Confusing Headline that has caused so much grief in trying to get investors into this project:

Dear __. ______,

Mr. Wright forwarded me your email.

We are not responsible for the fact that there are two companies with similar names operating in this sector. The article made it very clear that we were discussing an exchange in the first line, "Estonia-based cryptocurrency exchange BitBay went offline for almost two hours on Monday without explanation."

Nevertheless, as a courtesy I have updated the title of the article in question to "800K BitBay exchange users face 2nd unscheduled outage this year".
_
I strongly counsel that if you wish to achieve the desired results in future when dealing with the media, a polite request goes further than a legal threat.

Sincerely yours,

Jon Rice
Coin Telegraph - Editor in Chief

My Reply:

Dear Mr. Rice & Mr. Wright,

I really appreciate you addressing this issue so promptly. Thank You both.

As you know, many people only read headlines; that is why myself and our investors felt the issue really needed prompt attention.

Thank you for your feedback on addressing the media; in the world I normally interact in, being nice gets nothing done.
My apologies if I offended.

Thank You again,

Dr. ________

https://cointelegraph.com/news/800k-bitbay-users-face-2nd-unscheduled-outage-this-year

[BitBayDoc]

Management does not want to listen to the reality/fact that 2 commodities in the same field (cryptocurrency) should not have the same name.
I don't understand. This will be a never ending circle-jerk... Wake me when the exchange launches.
Doc is on temporary leave of action.

PS - The Features and Roadmap pages on the website need updating. The Peg has launched.

[dzimbeck]

Management does not want to listen to the reality/fact that 2 commodities in the same field (cryptocurrency) should not have the same name.
I don't understand. This will be a never ending circle-jerk... Wake me when the exchange launches.
Doc is on temporary leave of action.

PS - The Features and Roadmap pages on the website need updating. The Peg has launched.

It's on my list of things to do.

Really strange that they actually responded cordially, you lucked out. Yeah like he said as well, win more bees with honey. I'm not too concerned about those types of articles though because when we actually have a marketing budget we can push out many articles even if PR wire.

[numeracci]

Hi, is Bay going to be listed anytime soon?

[dzimbeck]

Hi, is Bay going to be listed anytime soon?

There are lots of plans to get on all the dexes starting with the NightTrader DEX

[raisinbran]

Go to https://coincodex.com/crypto/bitbay/

LAToken is open for business. Right now the price is falling. It's only $3.21!

[dzimbeck]

Go to https://coincodex.com/crypto/bitbay/

LAToken is open for business. Right now the price is falling. It's only $3.21!

Hahah nice

[dactylion]

Maybe it's verifying the blocks instead of downloading them. Which should still be a bit faster. Bootstrap doesn't instantly sync however if you synced in advance it should work.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.

So my 32-bit Halo v2.5 eventually synced up and upon loading key2.private, it shows the correct balance. I will still need to catch up with the dynamic peg and terminology, as in "Actual balance: vs. "Available balance" but I should be in control of my BAY again and able to move it to a "lighter" wallet

Thanks for your help @dzimbeck!

Actual vs available balance is effected by several things. First of all your ratio of liquid to reserve which you can see in the "history" tab which shows a more detailed ratio of liquid/reserve/frozen. I do think there should be more on the homepage to express that though.

Available balance may also be effected by pending transactions waiting for confirmations, pending contracts and marketplace offers, etc.

I don't know why so many people want to move to lighter wallet. I think the two keys are so much stronger security, I even use BitHalo to store BTC(BitHalo works with Bitcoin and dates back to 2014). Also the markets it's unfortunate people don't use them because they are full decentralized with security possibly better than TOR.

Thanks, I will read up on the Liquid/Reserve coins some more, so I understand it better.

As for the wallet, I may keep my BAY in Halo for now, I just wanted to spare myself having to spend a week making the binaries to work on two different platforms :/ If you can find the APK, I would be grateful, I think it may be safer to use than the webwallet, although since the login information is probably only used for hashing & key generation, I wouldn't be too worried, my password keeping is safe enough I think. I still find it difficult to navigate Halo. I understand that the Offers and Contracts sections are empty as my only interaction so far has been syncing and importing keys, however I've been unable to show any Marketplace listings, just can't figure out how to get anything show up. There's the BitBay and ALL markets dropdown, Sell Coins, Auctions etc. but clicking Go with anything selected does not do anything.. Then again, I'm probably just unexperienced. A good UX feedback anyway maybe? Sorry for being this direct. Compared to Haven or Particl Marketplace I'm feeling completely lost..

No the markets are working 100%. It's simply that there are no listings. Anyone can post anything to the markets. You can even start your own market. They are fully anonymous and arguably better security than TOR. We were before Particl and actually Particl started as Shadowcoin which was inspired by my work. Of course contracts on the market are also unbreakable and impervious to fraud or theft due to the nature of double deposit escrow. I think it would be nice to also connect to a dedicated node that always shows some basic listings to populate the markets with something however our community is currently trying to get more exchanges, especially DEX.

Login info for web wallet is only kept in cache so the moment you close the tab it logs you out. It's safe as long as you don't have malicious plugins that read keystrokes or something.

As for APK, we had some updates to web wallet recently so we will rebuild it. Also moving some code from bitbucket to github. Then next APK we build I will make sure it's hosted on github. Although the one at the playstore is working fine anyways.

Thank you for clearing it up, that is unfortunate -- not for long, hopefully! I have followed Particl since the beginning and my thumbs are up for all private & decentralized marketplaces, can't wait for the BitBay web marketplace, is there any ETA? The roadmap on bitbay.market does not mention any as of yet.

Great to hear there will be a fresh APK, please publish the GitHub URL when available, I'll keep checking!

Take care all and thank you for being this responsive.

[dzimbeck]

Right now we are updating web wallet first... then I want to do a few site updates also put source code on the github

[lifeiscrypto]

Understood. So if I don't use the advance sending, how will my reserve become liquid? is it a matter of time or is there anything I can do? All my balance has been in the wallet since 2017

Would anyone be able to give me more information about how a reserve becomes liquid? the same balance have been sitting in the same wallet since 2017 and only 0.003 % of my balance is liquid. Is moving it to ax exchange the only way to trigger the 1 month period for unfreezing the funds? would moving the reserve to a different private wallet trigger that 1 month period too?
Thank you in advance.

[dzimbeck]

Understood. So if I don't use the advance sending, how will my reserve become liquid? is it a matter of time or is there anything I can do? All my balance has been in the wallet since 2017

Would anyone be able to give me more information about how a reserve becomes liquid? the same balance have been sitting in the same wallet since 2017 and only 0.003 % of my balance is liquid. Is moving it to ax exchange the only way to trigger the 1 month period for unfreezing the funds? would moving the reserve to a different private wallet trigger that 1 month period too?
Thank you in advance.

https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528.pdf

Take a look at that visual explainer. Reserve and liquid is determined by the supply and the users vote on the supply when they stake. When supply goes up the reserve turns into liquid. In QT you can see a chart of each input that tells you precisely when it changes. When you send reserve it is delayed by a month and that delay has no effect on it's chart. The one month is actually just a difference in speed from reserve to liquid to distinguish them and so sending them has no effect. You have to wait for supply to change by community consensus which usually happens because all the liquid gets bought up and demand increases.

[lifeiscrypto]

Thank you for the clear explanation and the document @dzimbeck, it is clear now to me