BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[cryptohunter]

The Interview is ready.  It is long with a great deal of information I am looking forward to sharing with everyone.

David and I are coordinating the interview's release with updates he is deploying in the next week or so.  We are betting his current progress combined with some publicity from the interview will convince investors to check out BAY more closely.

Here is an excerpt from the finished article...


CCN – Can you walk me through your vision for BitBay?

David Z. – I was on the team when BitBay still consisted mostly of undeveloped ideas.  I was already working on decentralized markets with BitHalo, and the guys who brought me in just had a coin and a marketing plan.  The original idea for BitBay was an international market, much like EBay.  Unlike EBay though, BAY could be used to exchange anything, including the purchase of good and services, negotiating contracts, employment, and even in bartering.  Also, unlike EBay, there are no fees.  Perhaps most importantly, BitBay will be developed as a secure way for two entities to make any kind of unbreakable contract without the need for anyone else to be involved… no arbiters… no middle-man.  This unbreakable contract technology was already a feature I built into BitHalo the year before.  I was able to simply integrate it into BitBay.

Looks great where is the interview going to be published?

I will be publishing on Medium and Steem.  I will be generating interest using various Slack, Reddit, and Bitcointalk threads.  I could really use everyone's help here though... If you have Twitter or are on Facebook, posting a link where others in the Crypto community will see it will be the best way to get the word out.

In addition, I am attempting to find a Crypto News site interested in picking it up.  If you know someone on a site such as BraveNewCoin, get me in touch with them and I will send them the article.

thats really cool cointelegraph should really pick this project up too....the peg should generate a lot of interest.

[funsponge]

The Interview is ready.  It is long with a great deal of information I am looking forward to sharing with everyone.

David and I are coordinating the interview's release with updates he is deploying in the next week or so.  We are betting his current progress combined with some publicity from the interview will convince investors to check out BAY more closely.

Here is an excerpt from the finished article...


CCN – Can you walk me through your vision for BitBay?

David Z. – I was on the team when BitBay still consisted mostly of undeveloped ideas.  I was already working on decentralized markets with BitHalo, and the guys who brought me in just had a coin and a marketing plan.  The original idea for BitBay was an international market, much like EBay.  Unlike EBay though, BAY could be used to exchange anything, including the purchase of good and services, negotiating contracts, employment, and even in bartering.  Also, unlike EBay, there are no fees.  Perhaps most importantly, BitBay will be developed as a secure way for two entities to make any kind of unbreakable contract without the need for anyone else to be involved… no arbiters… no middle-man.  This unbreakable contract technology was already a feature I built into BitHalo the year before.  I was able to simply integrate it into BitBay.

Looks great where is the interview going to be published?

I will be publishing on Medium and Steem.  I will be generating interest using various Slack, Reddit, and Bitcointalk threads.  I could really use everyone's help here though... If you have Twitter or are on Facebook, posting a link where others in the Crypto community will see it will be the best way to get the word out.

In addition, I am attempting to find a Crypto News site interested in picking it up.  If you know someone on a site such as BraveNewCoin, get me in touch with them and I will send them the article.

You could start a new altcoins thread titled "An interview with the next Bill Gates" or something. It will draw people's attention to it for sure.  1000's read the threads daily so worth posting it all as one article in my opinion

[dzimbeck]

Well done David! Your honesty and your true hard work will be recognized at last! I invested in Bay long ago during the BTER Ico and I've never sold those coins. I'm very much glad I resisted.
Thanks

Thanks for being patient. It takes time to code something like this. The software has undergone many transitions. I'm pushing out an update in a day or two, just testing it now. It won't have the settings tab, its a stability update for the article we have written. Then settings menu will come right after that. Then the next couple templates.

[sadasa]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

[cryptohunter]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Ha I agree with you for the mass market we are aiming for 1billion will be hardly enough unless you like using decimals for each transaction. 100billion would be more suitable.

However it wouldnt affect your stake % in bitbay which ever way

[Anduril_FotW]

Great work on this coin ! Glad I invested 

Itching to buy more...

[cr197]

Great work on this coin ! Glad I invested 

Itching to buy more...

Wait till you see the main update around the end of the year!
The client will have around 10 tutorial youtube videos built into the client's video library!
I still have about 4 - 5 more to do.

[RJF19]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Reducing THE coin supply would not reduce YOUR coin supply. The less coins available, the more each is worth.

[dzimbeck]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Reducing THE coin supply would not reduce YOUR coin supply. The less coins available, the more each is worth.

Yeah I realize what you were saying. I say just wait for the rolling peg. It will be soon enough.

[RJF19]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Reducing THE coin supply would not reduce YOUR coin supply. The less coins available, the more each is worth.

Yeah I realize what you were saying. I say just wait for the rolling peg. It will be soon enough.

Take your time, no hurry here. Been waiting since the ICO, no point pushing it until your 100% happy with the code.

[Karartma1]

Well done David! Your honesty and your true hard work will be recognized at last! I invested in Bay long ago during the BTER Ico and I've never sold those coins. I'm very much glad I resisted.
Thanks

Thanks for being patient. It takes time to code something like this. The software has undergone many transitions. I'm pushing out an update in a day or two, just testing it now. It won't have the settings tab, its a stability update for the article we have written. Then settings menu will come right after that. Then the next couple templates.

Do all it needs to be done, no need to rush. The more stability the better and community/interest is building. FUD will come also but I think you have good bulletfroof vest just in case.
Keep it up

[HORT]

Yes, please take your time and make it 100%.

[dzimbeck]

Thanks everyone, I'm not going to rush and honestly it helps keep me calm hearing you guys say that.

I'm releasing an update in a matter of days. Just testing it and patching a couple more things.

[Karartma1]

If that helps even more Rome wasn't built in a day and all good things come to those who wait. I've been waiting for Bitcoin to go up again and I will certainly do it for BitBay especially if that is run by you.

[CryptoRambler]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Reducing THE coin supply would not reduce YOUR coin supply. The less coins available, the more each is worth.

Right! Your percentage of ownership of the entire pie remains the same - you would be decreasing the size of the entire pie - creating scarcity - and hopefully leading to higher prices.

Everyone's share is evenly reduced according to their percentage, resulting in no gain or loss, as the basis is also reduced in proportion to the sale price.

[cr197]

David:

What are your thoughts on reducing the max coin supply?

Isn't that what pegging does by freezing? No reason to artificially reduce market cap before that is there?

Absolutely not lol who would accept reducing their coin supply anyway RJF? I wouldn't. I only have a few million locked away but that is not getting fondled with.

Reducing THE coin supply would not reduce YOUR coin supply. The less coins available, the more each is worth.

Right! Your percentage of ownership of the entire pie remains the same - you would be decreasing the size of the entire pie - creating scarcity - and hopefully leading to higher prices.

Everyone's share is evenly reduced according to their percentage, resulting in no gain or loss, as the basis is also reduced in proportion to the sale price.

Well I can't wait for when the coin becomes democratic with it's own built-in voting system! Say goodbye to bitcoin development gridlock.
Granted, David has an agenda he's got to stick to to complete the core build. Hopefully after the peg we can really get ourselves organized as a community and help with funding to expand the system even further. And with a built in voting system, we can focus on what's best and how to reach it! And once python programmable smart contracts are released (that don't bloat the blockchain), the sky is the limit on what can be coded for expanding BitBay's future!

[Johnny00]

Cam someone tell me what the ICO price was?

[cr197]

Well I've been thinking a lot about the future of multi-sig. Obviously with  an individual account on the client you have control of both signatures. In a joint account you have control of 1 sig and your partner/counterparty has control of the other. The only downfall of such a joint account is that if one or the other drops off the earth never to be found again, if their partner doesn't have their private key and password (which would be highly unlikely) then those coins in that account are lost/burned forever.
So I've been thinking on the matter, if we  could have multiple options for joint account setups we could correct this and use it to our benefit. If for example, when a joint account is created, what if it asks you if you want a both sides to have manual signature capabilities or just one side to be manual and the other side to be 'auto-only'!
 
So with that in mind, inject that concept into an exchange account. You'd have  a joint account set up with them where they are always in auto-sig, so you still have full control of your coins, yet your side of the account can either be auto or manual. If you want to buy or sell your coins you'd have the choice to either manually or auto-sign the approval.

So let's say someone hacks their system and tries to steal BitBay... before they could do it they'd need to hack your computer as well!

We could make it even better. With existing 2fa on exchanges, let's say the investor's computer gets hacked, his coins on the exchange would still be protected as long as he had 2fa in place and they don't have the capabilities to break his 2fa!! Any coins he doesn't have on the exchange would be in a separate personal account where he could spread onto to different devices! So the hacking issue would be nearly impossible!

So now with this technique we could have a trustless exchange to interact with the trustless client!!! All of this with minimal retrofitting from the exchanges end - they are in auto-signature mode!

[cr197]

If we can make it where we take the trust issue out of the equation with exchanges.... Hackers will be all like....

https://www.youtube.com/watch?v=dsx2vdn7gpY

[RJF19]

Cam someone tell me what the ICO price was?

252-264 satoshi -Day 1
264-276 satoshi -Day 2
276-288 satoshi -Day 3
288-300 satoshi -Day 4
300 satoshi -Day 5

I think the final price was 320, someone can correct that if I'm wrong...