BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Munti]

I understand this but what if you were buying something that was not obviously wrong and it was moderated out and closed. What will happen to my funds as they buyer or seller?

A contract that is already taken by someone disappears from the market and can thus not be moderated. The harder part of your question is "what if you were buying something that was not obviously wrong"
There are a lot of things that are legal in some countries or context, but illegal in others. It is not possible for a moderator to know the law in all countries. Some drugs are a good example of this problem. We are still trying to make guidelines for this, but it's obvious that we will never get this 100% right. The logical thing is to run a rather strict policy in the open market, and be less vigorous with private markets that limit themself to things that are legal in parts of the world.

Isn't the fact there is any moderation possible kind of leaving it open to legal issue. If there was no central control and everything was decentralised would that not be better than having a single entity moderating?

Very good point. No moderation would be the easy solution. The problem is that we are leading this development. That means criminal elements could be very tempted to use our market for their purposes, and thus constitute a threath to BitBay's chances to become a major player for legal goods. There are other coins that are trying to develop what we have. Some of them are signaling that they intend to target black markets. We have to assume that one or more of them will succeed at some point in time. When that time comes, moderation may become less of an issue.
But I agree this is a difficult one. Suggestions how to handle this are very welcome.

I think it is more risky for david being a moderator isn;t it?

I agree. But who says David will be a moderator?

I mean if you can moderate then you are responsible for allowing things to be there?

If no moderation is possible but there is no anon the authorities will have to police it according to their own countries rules.

I mean if you create a decentralised market place then how would you ever be able to moderate it all all or is there a special provision for this that I don't understand?

The answer to those questions are somewhat contained in the above answers I think.

Will there be incentive for moderators. How many moderators will there be? Or is it a case of reported bad stuff is removed?

We will try to run it without incentives for moderators. If that does not work, we will have to address it.
We believe the number of moderators doesn't have to be high because users can report bad stuff. And because, as I said above, we think a coin that targets black markets will take most of that traffic in the future

[dzimbeck]

It should be mentioned that the moderation itself is decentralized. Since mod keys have been given to multiple people in the community.

[cr197]

It should be mentioned that the moderation itself is decentralized. Since mod keys have been given to multiple people in the community.

And pretty much everyone has a basic moderator status since any user can flag inappropriate items.

This is just the beginning. It's not like we can't continue to program this protocol after David completes the core.
Heck BitBay is designed to add innovation. BitBay is one of the first few coins to have decentralized voting built into the Client UI. And probably the first that is actually user friendly.
The future possibilities with that will be mind blowing.

Hell... Bitcoin will take another 10 years to never before they can agree to implement something like that.


Currently there is one default marketplace that everyone is connected to - and that's the >BitBay< market.

So if we get into a snag with conflicts of laws pertaining to different countries, then by all means create a new market based on that country's laws i.e., >China BitBay< or >France BitBay< , etc.
Then anyone who posts on it and moderates it will be based on that countries laws.

No need to fret over this. There is no reason the Client can't be programmed to make everyone happy (or at least the vast majority) - unlike Bitcoin.

We've yet to really grasp all the possibilities that custom python programmable contracts will provide and help support us in future design-build protocols.

[Karartma1]

It was good to read the last posts. It seems like if people got the equation
decentralization=freedom=I do whatever I want

That's not how it works, right?

With Great Power Comes Great Responsibility

For this reason I hope there will be a constantly growing community made by people who share and understand the importance of this innovation and that will work together to make this market grow. 

[cryptohunter]

I think these are all good points. To me I just though every single thing was decentralised with no central governance at all.

I of course hope bitbay will never be spoiled with the stuff some people like to buy.

However, I think moderation should be 100% decentralised too. So there is no point of focus for blame or recriminations.

We are creating a software that allows you to sell things on the internet we should not be held liable for what people choose to sell. The legal side is simply you don't list things that are illegal to sell in your country and you don't offer for sale to those countries it is illegal to purchase. The onus is on them not on the moderators. They (the user) are responsible for using the software in accordance with the laws the onus is on them. They must do their own DD. I think making too many guides and rules specifically is going to be pretty tough.

I guess decentralised flagging and removal/remain voting is the best way to go. It is then on those people to keep bay free of stuff that can crush it's reputation.

[dzimbeck]

I think these are all good points. To me I just though every single thing was decentralised with no central governance at all.

I of course hope bitbay will never be spoiled with the stuff some people like to buy.

However, I think moderation should be 100% decentralised too. So there is no point of focus for blame or recriminations.

We are creating a software that allows you to sell things on the internet we should not be held liable for what people choose to sell. The legal side is simply you don't list things that are illegal to sell in your country and you don't offer for sale to those countries it is illegal to purchase. The onus is on them not on the moderators. They (the user) are responsible for using the software in accordance with the laws the onus is on them. They must do their own DD. I think making too many guides and rules specifically is going to be pretty tough.

I guess decentralised flagging and removal/remain voting is the best way to go. It is then on those people to keep bay free of stuff that can crush it's reputation.

Right there is definitely no governance. The mod key exists so we can grow the market. Flagging and moderation is decentralized so people can keep content relevant to the markets they subscribe to.

The responsility falls on the users. The creator of uTorrent isn't responsible for how people use it. I want people to have as much freedom as possible. This just helps us keep the markets we are aware of clean so we can reach a larger audience.

[cryptohunter]

I think these are all good points. To me I just though every single thing was decentralised with no central governance at all.

I of course hope bitbay will never be spoiled with the stuff some people like to buy.

However, I think moderation should be 100% decentralised too. So there is no point of focus for blame or recriminations.

We are creating a software that allows you to sell things on the internet we should not be held liable for what people choose to sell. The legal side is simply you don't list things that are illegal to sell in your country and you don't offer for sale to those countries it is illegal to purchase. The onus is on them not on the moderators. They (the user) are responsible for using the software in accordance with the laws the onus is on them. They must do their own DD. I think making too many guides and rules specifically is going to be pretty tough.

I guess decentralised flagging and removal/remain voting is the best way to go. It is then on those people to keep bay free of stuff that can crush it's reputation.

Right there is definitely no governance. The mod key exists so we can grow the market. Flagging and moderation is decentralized so people can keep content relevant to the markets they subscribe to.

The responsility falls on the users. The creator of uTorrent isn't responsible for how people use it. I want people to have as much freedom as possible. This just helps us keep the markets we are aware of clean so we can reach a larger audience.

Thanks David.. Yes that's what I thought it would be like. Cheers for the clarity.

I have been watching yobit a bit lately. I see it could be useful to be added there. Some of the volume is actually huge. I had suspected before this volume was mostly fake and perhaps it is but if you catch a big rise there it can get your coin a lot of new interest and attention. Polo actually scans other exchanges including those and cryptopia for the next big thing. Bay is still way too cheap I think new attention is all bay needs.

Im not sure why bittrex volume is low right now over all, it is a good exchange really these days.

[Anduril_FotW]

Thanks David.. Yes that's what I thought it would be like. Cheers for the clarity.

I have been watching yobit a bit lately. I see it could be useful to be added there. Some of the volume is actually huge. I had suspected before this volume was mostly fake and perhaps it is but if you catch a big rise there it can get your coin a lot of new interest and attention. Polo actually scans other exchanges including those and cryptopia for the next big thing. Bay is still way too cheap I think new attention is all bay needs.

Im not sure why bittrex volume is low right now over all, it is a good exchange really these days.

Would be super if we could get into Polo. Did anybody ever send them an official request ?

[rqdxrocket]

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[Johnny00]

Would be super if we could get into Polo. Did anybody ever send them an official request ?

[/quote]

People having been requesting add con option. You should to.

[Anduril_FotW]

Would be super if we could get into Polo. Did anybody ever send them an official request ?

People having been requesting add con option. You should to.
[/quote]

Cool, doing it right now !

[R-J-F]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

[dzimbeck]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

Thanks for the update. Yeah I would recommend against antivirus. It slows down the computer, and honestly I think most of them run spyware. There might be a couple open source ones though.

The thing is, a well coded virus will bypass all antivirus

[cryptohunter]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

any idea where you got it ?

[R-J-F]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

any idea where you got it ?

unfortunately no, at least, not yet. We are doing a forensic analysis but no joy yet. If we learn anything worthwhile, I'll share it with the community. Good thing I use a different PC for my wallets, only connects when needed, no browsers.

[cryptohunter]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

any idea where you got it ?

unfortunately no, at least, not yet. We are doing a forensic analysis but no joy yet. If we learn anything worthwhile, I'll share it with the community. Good thing I use a different PC for my wallets, only connects when needed, no browsers.

Good luck sorting it. If you have a signed BTC address on the board you can recover it. It happened to me before. Takes a while though.

Do you use vpn?

If you don't store wallets on it then it isn't from a coin on here then I guess. That's one good thing.

So many nasty bugs around on the net now and this is why BAY will be awesome for securing yourself and having a useable  wallet without constant fear of getting wiped out.

[R-J-F]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

any idea where you got it ?

unfortunately no, at least, not yet. We are doing a forensic analysis but no joy yet. If we learn anything worthwhile, I'll share it with the community. Good thing I use a different PC for my wallets, only connects when needed, no browsers.

Good luck sorting it. If you have a signed BTC address on the board you can recover it. It happened to me before. Takes a while though.

Do you use vpn?

If you don't store wallets on it then it isn't from a coin on here then I guess. That's one good thing.

So many nasty bugs around on the net now and this is why BAY will be awesome for securing yourself and having a useable  wallet without constant fear of getting wiped out.

Use VPN on the other machine, not the this one. Tried to recover my first account "RJF" no joy, no signed address so they simply ignored me. That was a HERO account, sucked....

[cryptohunter]

NOTICE: Any posts from my former account "RJF19" are NOT from me, the account was hacked. PC was infected by the "CoinBitClip" Trojan even though I had 3 forms of up to date protection including corporate versions. They say "third time's the charm", hope that is correct...Be careful out there, it's swamp...

any idea where you got it ?

unfortunately no, at least, not yet. We are doing a forensic analysis but no joy yet. If we learn anything worthwhile, I'll share it with the community. Good thing I use a different PC for my wallets, only connects when needed, no browsers.

Good luck sorting it. If you have a signed BTC address on the board you can recover it. It happened to me before. Takes a while though.

Do you use vpn?

If you don't store wallets on it then it isn't from a coin on here then I guess. That's one good thing.

So many nasty bugs around on the net now and this is why BAY will be awesome for securing yourself and having a useable  wallet without constant fear of getting wiped out.

Use VPN on the other machine, not the this one. Tried to recover my first account "RJF" no joy, no signed address so they simply ignored me. That was a HERO account, sucked....

Get that account flagged by some mods make it worthless to the hacker.

[dzimbeck]

I can't believe mods don't allow password reset by email. Bitcointalk mods are like anti-mods.

[Munti]

Marketing campaign is starting now



http://bitcoinprbuzz.com/press-release-bitbay-cryptocurrency/

That is the press release. We also have an article that will be posted on 400+ sites and also translated to many languages

A big thank you to all that contributed to this