BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[cryptohunter]

I agree that the anon fad isn't over. However with ZCoin and ZCash I'm not sure we can complete unless we use Zero knowledge. Anonymous broadcasting is better than almost all anon except for the top ones (SDC, Monero, Nav, Zcoin, Zcash)

Anon broadcast has very few flaws. People can only exploit Bitmessage in that example.

However it takes time to do POW in Bitmessage and then you have to wait and see if your transaction gets in the chain. From an engineering standpoint, it may not be worth it to sidetrack when we already have so many great features.

I say let's get the important templates done get the API done and of course finish pegging. Then we see what doors open.

Yes that is true, although even privacy enough to keep the average joe from seeing what his pals are buying is probably all that is required.

Is nav really a good design? imagine soopy could have been a good developer had he taken this more seriously. Im pretty sure he invented navs version of anon. I thought that was a simple design but if you rate it then i may have underestimated it.

I've heard Nav was a good design. But I've not independently verified it. The idea of parallel chains was interesting. My favorite ANON coin concept is obviously ZCash. However, SDC and Monero with ring signatures are a good second. And NAV is sort of 3rd. I think anonymous broadcast is better than most anon protocols but it isn't better if an exploit is found in Bitmessage so it all depends on how people audit that.

ZCash is on another level because its zero knowledge proof. You can't know who moves what, only you can know your own balance. However ZCash is memory intensive and ZCoin claims not to be.

In the end, anonymous broadcast is a low-tech and extremely simple system. I have no idea how someone would know who owns what account since your IP address is just thrown in the big pool of addresses and nobody in specific broadcasts. You would have to spoof a lot of nodes to break it.

But like I've said, no reason to derail development. Lets just stay course and people will see very soon the power of Bitbay.

Thanks David. I still rate you as the best and most responsive developer of any community I am part of. I have great faith in Bay and its future.

[cr197]

Good luck! I did the same thing about six months ago and lost my HERO account (RJF) because of it. Had to create a new one and start from scratch. Tried ever possible way to get them to respond but never heard anything so, now I'm stuck with the new account. Really sucks...

That figures.
Thanks for the info.


After the peg we should be able to afford to get some massive marketing going, then I think the website forum will be the main focus.

I'm hoping the website forum will come alive with merchant refugees from ebay, amazon, etc.
Since David has a steganography system built into the client, existing merchants could hide contact info inside their images they post for their items for sale.
That way they could market their items the same way, while the BitBay marketplace gains adoption. It would be like a temporary 'underground railroad' system.

[cr197]

Some nice buy support on bter.

That's a pretty big price difference from bittrex and bter.

I won't ever lay a btc on that exchange, but maybe it's coming from a chinese investor(s).

[sidhujag]

Zcoin is from the same team as zcash and implemented the same lib.. zcash is work ontop of zcoin and fixes critical security flaws and optimizations ontop of zcoin design.. thats what their cryptographer told me. Afaik zcash is the only anon choice after reading their code.. although their integration into btc wasnt the cleanest it could be it was obviously the best choice over the other mentioned implementations. Infact because of their choice to use btc as a base im able to integrate into syscoin easily aswell... providing optin anon to users of marketplace...

http://syscoin.org/increased-privacy-syscoin-2-1-direct-zcash-payment-support/?utm_content=buffer8e784&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

[cr197]

Zcoin is from the same team as zcash and implemented the same lib.. zcash is work ontop of zcoin and fixes critical security flaws and optimizations ontop of zcoin design.. thats what their cryptographer told me. Afaik zcash is the only anon choice after reading their code.. although their integration into btc wasnt the cleanest it could be it was obviously the best choice over the other mentioned implementations. Infact because of their choice to use btc as a base im able to integrate into syscoin easily aswell... providing optin anon to users of marketplace...

http://syscoin.org/increased-privacy-syscoin-2-1-direct-zcash-payment-support/?utm_content=buffer8e784&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Wow... that would be something. So it can be cloned fairly easy? That would give any coin with a decent dev the ability to cut and paste.
That's got to have Monero, Dash, Shadow, and Nav a bit nervous I'd think 

[sidhujag]

Zcoin is from the same team as zcash and implemented the same lib.. zcash is work ontop of zcoin and fixes critical security flaws and optimizations ontop of zcoin design.. thats what their cryptographer told me. Afaik zcash is the only anon choice after reading their code.. although their integration into btc wasnt the cleanest it could be it was obviously the best choice over the other mentioned implementations. Infact because of their choice to use btc as a base im able to integrate into syscoin easily aswell... providing optin anon to users of marketplace...

http://syscoin.org/increased-privacy-syscoin-2-1-direct-zcash-payment-support/?utm_content=buffer8e784&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Wow... that would be something. So it can be cloned fairly easy? That would give any coin with a decent dev the ability to cut and paste.
That's got to have Monero, Dash, Shadow, and Nav a bit nervous I'd think 

No not like that... ive made it an external payment option.. because rawtxs are compatible it will work with my escrow... addresses are compatible because it shares same private key prefix as syscoin for taddr. Clones wont go too far.. its too advanced and not many clone devs will understand how to improve it

[TrueAnon]

BIT BAY

LOL

DEAD ever since the bob breakup and scams of chinese exchange!!!

[cryptohunter]

BIT BAY

LOL

DEAD ever since the bob breakup and scams of chinese exchange!!!

Dead but still above WBB? Not that WBB isn't a reasonable outside chancer. The definition of dead though needs some focus in this case.

I would expect both of these projects to be way higher than they are if their plans come to fruition although BAY significantly higher than WBB.

[cr197]

Well they ought to stop everything they are doing and focus first and foremost on creating an actual marketable name.

[dzimbeck]

BIT BAY

LOL

DEAD ever since the bob breakup and scams of chinese exchange!!!

Dead but still above WBB? Not that WBB isn't a reasonable outside chancer. The definition of dead though needs some focus in this case.

I would expect both of these projects to be way higher than they are if their plans come to fruition although BAY significantly higher than WBB.

Bay should be higher than most of the coins on coinmarketcap. It should be top 20. World's first decentralized markets as promised. 

[cr197]

Wow so I'm starting to wake up more and more to the possibilities with Wallstreet opening up to trading stocks on the blockchain.

Overstock will lead the way...
http://www.coindesk.com/overstocks-blockchain-stock-will-begin-trading-december/

So this should create all sorts of advantages for stockmarket traders.
1) Slippage potentially minimized
2) Commission fee's minimized
3) Naked short selling minimized

Yet what's really caught my interest is how the ownership of stock shares will be stored.
I mean it shouldn't be any different than how a typical cryptocurrency stores it's values right? The owner actually holds in possession of the stocks on his blockchain wallet.
If it isn't set up that way yet for Overstock, I'm sure it eventually will.
This will cause a huge decline in brokerage houses that 'hold' your portfolio in their 'middleman' possession, and rightfully so... It's 'yours' after all!

So point being is that I don't see why we won't have a future where traders trade their shares like crypto currently does with exchanges like bittrex and polo.

Yet here's the kicker, with Halo, now David can add a whole new paradigm to the equation.
Traders will be able to trade freely and trustlessly any stock they want for any stock, fiat, or token of value they own.
I don't see exchanges like polo or bittrex being able to add stocks into their list of markets anytime soon. The existing brokerage houses of wall street will fight tooth and nail over that. They will buy up the SEC so fast with red tape that I just don't see it possible in any quick manner.
Yet with BitBay, it's decentralized, and can't be regulated since it's not a business and especially because it's not for profit.

So even though BitBay doesn't have the current crypto traders on board realizing that they can trustlessly buy and sell any crypto for any crypto without having to go through a 3rd party escrow or exchange, I think that wall street waking up will be a different story.
For example, if Mutual fund A wants to liquidate their 5% ownership of stock XYZ (for what ever reason) they could somewhat use their same chatbox channels to spread the word and once they find a buyer, they could literally sell securely through BitBay at a 0% slippage and commission fee.

The possibilities are endless! Since all this will be after the peg, BitBay will not only turn into a great hedging tool, but also a leveraging tool as well. And again, without having to front a 3rd party brokerage house the funds!

Man I can't wait to watch how Overstocks experiment works out in December!

[cr197]

I see that Overstock has vest heavily into their T0 platform.

I don't know enough about it, but I'm willing to bet it's based on profit and based on trust of a 3rd party.

So once that hurdle is overcome, we should have smooth sailing. Natural law of profitability will overtake it. If a trader can buy and sell for free over a fee based exchange, they will!

[cryptohunter]

BIT BAY

LOL

DEAD ever since the bob breakup and scams of chinese exchange!!!

Dead but still above WBB? Not that WBB isn't a reasonable outside chancer. The definition of dead though needs some focus in this case.

I would expect both of these projects to be way higher than they are if their plans come to fruition although BAY significantly higher than WBB.

Bay should be higher than most of the coins on coinmarketcap. It should be top 20. World's first decentralized markets as promised. 

Couldn't agree more and I hope will be when people are more aware of the possibilities with bay.

[cr197]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

[dzimbeck]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

Finally we might see a true bull run.

[clixcoin]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

So it is related to this thread and what benefit will be for BitBay if these countries are dumping. Are you official spokesman one of them. Crypto is still behind to get serious investment in it.

[cr197]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

So it is related to this thread and what benefit will be for BitBay if these countries are dumping. Are you official spokesman one of them. Crypto is still behind to get serious investment in it.

It's related to this thread because the struggle for the US petro dollar to remain king has been in question for quite a while now. And in my opinion now that Trump was elected the Saudis and the Chinese are in full revolt and could be speeding up the process.

This strengthens crypto because any sort of disruption in fiat stability causes investors (especially Chinese) to seek safe alternatives. In my opinion, bitcoin is currently trying to break through some heavy resistance levels because of this. If/once it does, I don't think we will ever see this price range again for BTC - hence why I'm going to invest more in crypto. I think BTC is going to break 800 USD soon.

BitBay will soon have an unprecedented price stability feature, so all of this is relevant to BitBay because if the Chinese and Saudis are successful at 'de-throning' the USD as king, then in my opinion all fiat will go full retard in terms of price stability and BTC will become even more volatile. People will be looking for stability with hedging tools.

Interesting times ahead.

[cryptohunter]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

So it is related to this thread and what benefit will be for BitBay if these countries are dumping. Are you official spokesman one of them. Crypto is still behind to get serious investment in it.

It's related to this thread because the struggle for the US petro dollar to remain king has been in question for quite a while now. And in my opinion now that Trump was elected the Saudis and the Chinese are in full revolt and could be speeding up the process.

This strengthens crypto because any sort of disruption in fiat stability causes investors (especially Chinese) to seek safe alternatives. In my opinion, bitcoin is currently trying to break through some heavy resistance levels because of this. If/once it does, I don't think we will ever see this price range again for BTC - hence why I'm going to invest more in crypto. I think BTC is going to break 800 USD soon.

BitBay will soon have an unprecedented price stability feature, so all of this is relevant to BitBay because if the Chinese and Saudis are successful at 'de-throning' the USD as king, then in my opinion all fiat will go full retard in terms of price stability and BTC will become even more volatile. People will be looking for stability with hedging tools.

Interesting times ahead.

Sounds like interesting times ahead. Come on David get that peg in before we see a BTC rocket

Decentralised market places are the last piece of the puzzle that we need.

[dzimbeck]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

So it is related to this thread and what benefit will be for BitBay if these countries are dumping. Are you official spokesman one of them. Crypto is still behind to get serious investment in it.

It's related to this thread because the struggle for the US petro dollar to remain king has been in question for quite a while now. And in my opinion now that Trump was elected the Saudis and the Chinese are in full revolt and could be speeding up the process.

This strengthens crypto because any sort of disruption in fiat stability causes investors (especially Chinese) to seek safe alternatives. In my opinion, bitcoin is currently trying to break through some heavy resistance levels because of this. If/once it does, I don't think we will ever see this price range again for BTC - hence why I'm going to invest more in crypto. I think BTC is going to break 800 USD soon.

BitBay will soon have an unprecedented price stability feature, so all of this is relevant to BitBay because if the Chinese and Saudis are successful at 'de-throning' the USD as king, then in my opinion all fiat will go full retard in terms of price stability and BTC will become even more volatile. People will be looking for stability with hedging tools.

Interesting times ahead.

Sounds like interesting times ahead. Come on David get that peg in before we see a BTC rocket

Decentralised market places are the last piece of the puzzle that we need.

Even if it happens after no problem for us. A rolling peg is going to be very strong in any economy. I'm working on it. 

[cryptohunter]

Saudi's and China are dumping US treasuries.
Looks like I'm going to try to convert more USD to crypto .

Let the political war games begin!!

http://www.zerohedge.com/news/2016-11-16/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-375-billion-us-p (edited)

So it is related to this thread and what benefit will be for BitBay if these countries are dumping. Are you official spokesman one of them. Crypto is still behind to get serious investment in it.

It's related to this thread because the struggle for the US petro dollar to remain king has been in question for quite a while now. And in my opinion now that Trump was elected the Saudis and the Chinese are in full revolt and could be speeding up the process.

This strengthens crypto because any sort of disruption in fiat stability causes investors (especially Chinese) to seek safe alternatives. In my opinion, bitcoin is currently trying to break through some heavy resistance levels because of this. If/once it does, I don't think we will ever see this price range again for BTC - hence why I'm going to invest more in crypto. I think BTC is going to break 800 USD soon.

BitBay will soon have an unprecedented price stability feature, so all of this is relevant to BitBay because if the Chinese and Saudis are successful at 'de-throning' the USD as king, then in my opinion all fiat will go full retard in terms of price stability and BTC will become even more volatile. People will be looking for stability with hedging tools.

Interesting times ahead.

Sounds like interesting times ahead. Come on David get that peg in before we see a BTC rocket

Decentralised market places are the last piece of the puzzle that we need.

Even if it happens after no problem for us. A rolling peg is going to be very strong in any economy. I'm working on it. 

I agree. Nice little bump for bay today on trex.
Have you chatted to busoni yet from polonex. That guys seems to know his stuff and appreciates good coding and developing. It's mostly about volume but he does make exceptions I have noticed.