BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[Preventative.Measures]

I don't quite understand how a unilateral system would work.  In the second example, buyer puts up double, so 400 gets locked in contract?  What if seller sends an empty box?  Does the buyer reject the transaction and get all 400 back?

What if the seller did actually send his item but the buyer rejects the transaction anyway?  Does the buyer get his money back while the seller loses his item?

I'm sure I must be missing something 

[1714946581]

1714946581

[ptcgroup10009]

I don't quite understand how a unilateral system would work.  In the second example, buyer puts up double, so 400 gets locked in contract?  What if seller sends an empty box?  Does the buyer reject the transaction and get all 400 back?

What if the seller did actually send his item but the buyer rejects the transaction anyway?  Does the buyer get his money back while the seller loses his item?

I'm sure I must be missing something 

unilateral is uneven deposit (usually its double deposit) do to the review rating of the seller or buyer the deposit can be lower if both parties agree because of user rating.



Try the client  try it on a small transaction you would understand it more, all your question could be answer by using it.

[Mr. Regi]

When will the wallet be released?

[dzimbeck]

I don't quite understand how a unilateral system would work.  In the second example, buyer puts up double, so 400 gets locked in contract?  What if seller sends an empty box?  Does the buyer reject the transaction and get all 400 back?

What if the seller did actually send his item but the buyer rejects the transaction anyway?  Does the buyer get his money back while the seller loses his item?

I'm sure I must be missing something  

The seller of coins aka the person depositing $400 coins goes into a joint account with the buyer.

So lets say she was selling coins for cash. I think the term "seller" confused you.

Alice is selling $400 of COINS for cash. She wants Bob to trust her and this will be Bobs FIRST purchase of crypto.

They go into a DDE contract 2 of 2 joint account.

Now when Bob sends $200 in cash Alice can't steal it or Bob blows up the money.

They both release the contract and everyone wins.

The risk is that Bob just blows up Alices money before sending his cash. This is why it is critical for Alice to interview Bob in advance or decide how much money she wants to advance. She could even simply advance 200 dollars and a 10 dollar deposit just something nominal. So with her advanced payment she would not really have any logical reason to keep the cash if she is almost breaking even.

Guarantor work for sellers and buyers in trade deals as well or even employment contracts. If a person was buying a 200 dollar guitar, the seller of the guitar may not want to put up collateral as they don't hold much Bay. The buyer would then do something similar to the above scenario.

[dzimbeck]

When will the wallet be released?

The wallet exists... bitbay.market

It's been around for 3 years. We have constant updates almost every month. The whole project will finish hopefully sometime this year.

[cryptohunter]

When will the wallet be released?

The wallet exists... bitbay.market

It's been around for 3 years. We have constant updates almost every month. The whole project will finish hopefully sometime this year.

Really the pegging, api etc is still all of for completion this year? that's great news.
I'm unwinding in a lot of projects to get more bay at 700 sats. It is pretty insane to see bay getting almost nudged out of the top 100 by a ton of new projects offering nothing more than promises and dreams.

[Mr. Regi]

If this crypto really has all the features listed, why is it still so low on marketcap

[baybitbuy]

Can someone edit the front post to add Cryptopia under the exchanges header? Cheers,

[dzimbeck]

If this crypto really has all the features listed, why is it still so low on marketcap

No idea, it's sort of ridiculous that it isn't top 20. We don't know why, however eventually the market will react to it. Still better than Dogecoin!

[joffmac]

If this crypto really has all the features listed, why is it still so low on marketcap

its out off top 100 now

[Mr. Regi]

If this crypto really has all the features listed, why is it still so low on marketcap

No idea, it's sort of ridiculous that it isn't top 20. We don't know why, however eventually the market will react to it. Still better than Dogecoin!

Yes it's ridiculous, the top 100 is filles with shitcoins.
But this coin actually proposes something and it's just barely in the top 100
Lol, maybe it lacks marketing or something. I never heard of this crypto before so

[vlom]

what this coin really need are wallets that are more userfriendy. if i had the tech knowledge i would help. all that i can offer is beta-testing.

[Mr. Regi]

what this coin really need are wallets that are more userfriendy. if i had the tech knowledge i would help. all that i can offer is beta-testing.

Me too, I think it still needs to improve it doesn't look very nice
It's true that the competition isn't for the most part doing a great job too with the UI, but BitBay client really has an odd feeling, it's just not pretty.
But what's amazing though is how it's so damn complete and already available.
Those features man

[Figatko]

Yes, there are two reasons nobody wants to use BitBay to buy/sell something:
1. Horrible UI.
2. No one in his right mind will download the blockchain or try to learn what's "bootstrap". I mean common people, byers, not crypto enthusiasts.

[jimmybob_007]

The UI could use some love, sure, but that's an easy fix later on. The core technology is what makes this coin unique. If rolling peg comes online by the end of the year this coin will rocket. Keep up the good work.

[cryptohunter]

Yes, there are two reasons nobody wants to use BitBay to buy/sell something:
1. Horrible UI.
2. No one in his right mind will download the blockchain or try to learn what's "bootstrap". I mean common people, byers, not crypto enthusiasts.

I think once the api is done and we get some websites and mobile version then more mainstream people will adopt it.
ebay resellers will be able to make money just from the fees especially over seas with the auto added on evil ebay fees and taxes now.

If that gets done before the peg then we can look at pegging much higher to start.

The possibilities are endless but there is only so much one person can do.

Bitbay eventually needs sidechains to enable other teams to plugin and fund raise then build on top of the core. Although even without this it can rival the top 10 projects.

[cr197]

BitBay Community Update - August 7th

Thanks to Meta’s connections, he was able to get his friend Taha to integrate BitBay into his chrome price tracker extension. Now you can track the price of BitBay in your chrome browser! https://chrome.google.com/webstore/search/bitbay%20bay%20price?hl=en-US

The website bounty list has been completed in full in regards to web development tasks. Thanks to Shorn for all the fast and hard work! We still have some work to do with finalizing text documentation so we can begin translating our website to other languages.

The marketing team continues there work with the "La Baleine" French community along with others.

Our marketing survey has provided us will excellent feedback. We are still recording data, so if you haven’t already done so feel free to take our survey with a chance to win 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b

We are prepping for the production of a new professional commercial to be featured on our website and youtube. This will take some time as we will utilize all our recent marketing research to provide a commercial relaying the communities input - seeing is believing!
   
As always - thanks for supporting BitBay!

Links:
https://www.reddit.com/r/BitBay/
https://bitcointalk.org/index.php?topic=890531.0
http://bitbay.market/wp-login.php?action=slack-invitation
https://t.me/bitbayofficial
https://discord.gg/sP8b66W
https://twitter.com/BitBayofficial
Bitbay.market

[wildbud]

Do not like BitBay ...Honestly

[cryptohunter]

above post made by a bot by the looks of his post history.

[dzimbeck]

above post made by a bot by the looks of his post history.

Well you've got a point he comments on tons of different threads like a comment a day. Kinda odd. However,  I think he came by from Sys thread if you notice he posted there shortly after. It's really trivial and lame tbh. We didn't fud them I only responded to Sid's comment and now a few of them are upset. Just let it pass I guess. The funny thing is, I want them to be successful and stated a few times that no harm was intended and was only responding to things that were said about us that are untrue.

I think the best thing to do is if you are an investor of BitBay always remember to be respectful of other communities unless of course it is a trap coin. I prefer to be friendly with other devs to chat about crypto and theory and stuff... not to compete with them.

Oh well...

The race is always with ourselves. We never gauge our progress or skill in terms of what everyone else is doing.

That is why we pioneer ideas here.