BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[cryptohunter]

Joke:

I was looking at the Market Cap of bay this morning...
"$260M"
I was thinking. Mhmm pretty good. Maybe room for a good x2 or x3 in the future.

Then I looked again and saw... shit it's $26M Market cap... not $260M...

This coin is gonna explode soon.

We're certainly overdue for a correction in the upward direction  

The contrast is even more drastic when you look at the valuation that other coins have been getting. Bitbay is not even in the top 100. That is something which cannot be digested.

I hardly recognise the top 100. Looks like it was grossly infested with a lot of fake dreams and talk projects with unrealistic roadmaps that will never reach fruition.
Although some solid old projects are starting to get major attention again.... lets hope bitbays time is just around the corner.

Same.
Top100 is crazy. Crypto becomed idiocracy... Maybe new investors need a bit of time to get back down to earth?

Haha Idiocracy(great movie)...
https://www.youtube.com/watch?v=kAqIJZeeXEc

Yeah.
Replace "it has electrolytes" by "it's a cryptocurrency debit card" and you pretty much have the picture here :-)

Btw @dzimbeck: what is your opinion about SHIFT ?

Well I love IPFS and DPOS has proven itself to be the best proposal for scaling despite its heavy centralization to the 100 nodes. However if a platform like Steem can operate on it then it clearly is a practical solution. However... decentralized storage is hard and with IPFS every node involved in storing a particular site means to store the internet on everyones computer? Seems really like an engineering nightmare. Like is this info encrypted? How much is being stored on the blockchain? Hopefully ONLY the torrent link. And how is data compartmentalized? What if nodes go down and they are hosting a specific piece of the torrent? What kind of security flaws is there in doing this? Should a user download the entire site, check to make sure the sites publisher signed the hash of it and proceed? Do they download something to run on the client side?

You can see some of the obvious concerns that immediately spring to mind.

Maybe I'm old fashioned, but I think the blockchain is only for notary, hashing, finance a few simple apps, sidechains, pegs and maybe hashed apps and torrents.

However, the idea seems ambitious and the chart looks good. See what you can download and beware of any coin that doesn't have downloadable software!!

Are you thinking of moving bay over to dpos eventually david? would that not fit in nicely with eths version of POS where you need a certain amount of eth to be a delegate. This could provide the accumulation and savings of bay we need.

[1714619152]

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[dzimbeck]

Joke:

I was looking at the Market Cap of bay this morning...
"$260M"
I was thinking. Mhmm pretty good. Maybe room for a good x2 or x3 in the future.

Then I looked again and saw... shit it's $26M Market cap... not $260M...

This coin is gonna explode soon.

We're certainly overdue for a correction in the upward direction  

The contrast is even more drastic when you look at the valuation that other coins have been getting. Bitbay is not even in the top 100. That is something which cannot be digested.

I hardly recognise the top 100. Looks like it was grossly infested with a lot of fake dreams and talk projects with unrealistic roadmaps that will never reach fruition.
Although some solid old projects are starting to get major attention again.... lets hope bitbays time is just around the corner.

Same.
Top100 is crazy. Crypto becomed idiocracy... Maybe new investors need a bit of time to get back down to earth?

Haha Idiocracy(great movie)...
https://www.youtube.com/watch?v=kAqIJZeeXEc

Yeah.
Replace "it has electrolytes" by "it's a cryptocurrency debit card" and you pretty much have the picture here :-)

Btw @dzimbeck: what is your opinion about SHIFT ?

Well I love IPFS and DPOS has proven itself to be the best proposal for scaling despite its heavy centralization to the 100 nodes. However if a platform like Steem can operate on it then it clearly is a practical solution. However... decentralized storage is hard and with IPFS every node involved in storing a particular site means to store the internet on everyones computer? Seems really like an engineering nightmare. Like is this info encrypted? How much is being stored on the blockchain? Hopefully ONLY the torrent link. And how is data compartmentalized? What if nodes go down and they are hosting a specific piece of the torrent? What kind of security flaws is there in doing this? Should a user download the entire site, check to make sure the sites publisher signed the hash of it and proceed? Do they download something to run on the client side?

You can see some of the obvious concerns that immediately spring to mind.

Maybe I'm old fashioned, but I think the blockchain is only for notary, hashing, finance a few simple apps, sidechains, pegs and maybe hashed apps and torrents.

However, the idea seems ambitious and the chart looks good. See what you can download and beware of any coin that doesn't have downloadable software!!

Are you thinking of moving bay over to dpos eventually david? would that not fit in nicely with eths version of POS where you need a certain amount of eth to be a delegate. This could provide the accumulation and savings of bay we need.

I've thought about it but then I really don't like the pseudo-centralized aspect nor do I like political things like voting. I mean okay our peg will be driven by a vote at first but this is like voting for delegates. Also they have some sort of account driven model and a lot of differences I would have to adapt the code to.

However, I have been keeping an eye on it. There are other ideas I've had for POS and will wait and see which protocol fares the best.

[stupid_seb]

I find it funny that Particl is 4.5x the marketcap of BitBay, but they tried to reverse BAY's tech and failed. Why invest $ into the $90mil cap coin when they failed to reverse code the $20mil cap coin's code...? Makes absolutely no sense

Cryptos don't make sense (look at the top20... Hcash... others...)
But that's the way it is.

Since June,we see the beginning of an early-mass-adoption movement (who here doesn't know someone who entered the market recently, or thinks about it ?).
It changes the game: Technology is not the only parameter in the valuation equation: Teams are scrutinized, marketing has a huge impact etc...
Crytpomarkets evolved: projects must adapt or die.

That said... Bitbay is a great tech. Maybe it just needs a bit of PR, and starting from the community is not a bad thing.

What if, WE, the hodlers, start promoting the coin again ?
Twitter, Facebook, LinkedIn, BitcoinTalk signature etc...

I think we need :

1- 2 officials statements about Bitbay: why is it so good? what is the end user value propostion?
-->  it can be done by an expert member here and validated by the devs.
We need 2 statments: 1 statement will be technical, and one for the average joe (simple).
We'll use these as a baseline to write the social media tweets and so.

2a- a short term roadmap for "news" and teasing (don't tease without news...):
Next releases
2b- curators for news and articles. Writers on Medium and Steemit for instance, and their links to resteem and upvote.

3- A structured and synchronized communication:
--> Same Tweets, same Hashtag (#BAY... why not something else like #NextBigCrypto)
--> Same linkedin post for all with hashtag (someone writes one and we copy paste)
--> etc etc..


We probably need a specific topic here or a slack channel to coordinate "off-the line"

Who is in ?
It's time to lift BAY up :-)

[vlom]

i have to admit that at the moment the only thing that bring new people i are:
- airdrops
- bounties

is there somewhere a fund that could be used for this?

and if the know the tech and get used to used it maybe some will stay.

i don't have enough btc/bay to sponsor something like this.

[funsponge]

I find it funny that Particl is 4.5x the marketcap of BitBay, but they tried to reverse BAY's tech and failed. Why invest $ into the $90mil cap coin when they failed to reverse code the $20mil cap coin's code...? Makes absolutely no sense

Cryptos don't make sense (look at the top20... Hcash... others...)
But that's the way it is.

Since June,we see the beginning of an early-mass-adoption movement (who here doesn't know someone who entered the market recently, or thinks about it ?).
It changes the game: Technology is not the only parameter in the valuation equation: Teams are scrutinized, marketing has a huge impact etc...
Crytpomarkets evolved: projects must adapt or die.

That said... Bitbay is a great tech. Maybe it just needs a bit of PR, and starting from the community is not a bad thing.

What if, WE, the hodlers, start promoting the coin again ?
Twitter, Facebook, LinkedIn, BitcoinTalk signature etc...

I think we need :

1- 2 officials statements about Bitbay: why is it so good? what is the end user value propostion?
-->  it can be done by an expert member here and validated by the devs.
We need 2 statments: 1 statement will be technical, and one for the average joe (simple).
We'll use these as a baseline to write the social media tweets and so.

2a- a short term roadmap for "news" and teasing (don't tease without news...):
Next releases
2b- curators for news and articles. Writers on Medium and Steemit for instance, and their links to resteem and upvote.

3- A structured and synchronized communication:
--> Same Tweets, same Hashtag (#BAY... why not something else like #NextBigCrypto)
--> Same linkedin post for all with hashtag (someone writes one and we copy paste)
--> etc etc..


We probably need a specific topic here or a slack channel to coordinate "off-the line"

Who is in ?
It's time to lift BAY up :-)

this is happening right now, the community do all this and have writers. You are welcome to join in also. join the slack group to ask what needs attention

[Bee Cho Chen]

i have to admit that at the moment the only thing that bring new people i are:
- airdrops
- bounties

is there somewhere a fund that could be used for this?

and if the know the tech and get used to used it maybe some will stay.

i don't have enough btc/bay to sponsor something like this.

There is currently a practice transaction faucet within the client marketplace that gives away 100 free coins

[cryptohunter]

Joke:

I was looking at the Market Cap of bay this morning...
"$260M"
I was thinking. Mhmm pretty good. Maybe room for a good x2 or x3 in the future.

Then I looked again and saw... shit it's $26M Market cap... not $260M...

This coin is gonna explode soon.

We're certainly overdue for a correction in the upward direction  

The contrast is even more drastic when you look at the valuation that other coins have been getting. Bitbay is not even in the top 100. That is something which cannot be digested.

I hardly recognise the top 100. Looks like it was grossly infested with a lot of fake dreams and talk projects with unrealistic roadmaps that will never reach fruition.
Although some solid old projects are starting to get major attention again.... lets hope bitbays time is just around the corner.

Same.
Top100 is crazy. Crypto becomed idiocracy... Maybe new investors need a bit of time to get back down to earth?

Haha Idiocracy(great movie)...
https://www.youtube.com/watch?v=kAqIJZeeXEc

Yeah.
Replace "it has electrolytes" by "it's a cryptocurrency debit card" and you pretty much have the picture here :-)

Btw @dzimbeck: what is your opinion about SHIFT ?

Well I love IPFS and DPOS has proven itself to be the best proposal for scaling despite its heavy centralization to the 100 nodes. However if a platform like Steem can operate on it then it clearly is a practical solution. However... decentralized storage is hard and with IPFS every node involved in storing a particular site means to store the internet on everyones computer? Seems really like an engineering nightmare. Like is this info encrypted? How much is being stored on the blockchain? Hopefully ONLY the torrent link. And how is data compartmentalized? What if nodes go down and they are hosting a specific piece of the torrent? What kind of security flaws is there in doing this? Should a user download the entire site, check to make sure the sites publisher signed the hash of it and proceed? Do they download something to run on the client side?

You can see some of the obvious concerns that immediately spring to mind.

Maybe I'm old fashioned, but I think the blockchain is only for notary, hashing, finance a few simple apps, sidechains, pegs and maybe hashed apps and torrents.

However, the idea seems ambitious and the chart looks good. See what you can download and beware of any coin that doesn't have downloadable software!!

Are you thinking of moving bay over to dpos eventually david? would that not fit in nicely with eths version of POS where you need a certain amount of eth to be a delegate. This could provide the accumulation and savings of bay we need.

I've thought about it but then I really don't like the pseudo-centralized aspect nor do I like political things like voting. I mean okay our peg will be driven by a vote at first but this is like voting for delegates. Also they have some sort of account driven model and a lot of differences I would have to adapt the code to.

However, I have been keeping an eye on it. There are other ideas I've had for POS and will wait and see which protocol fares the best.

Thanks for reply David. That makes perfect sense.
As always a fast reply direct from the actual dev. You wont get that on many threads.

[cryptohunter]

I find it funny that Particl is 4.5x the marketcap of BitBay, but they tried to reverse BAY's tech and failed. Why invest $ into the $90mil cap coin when they failed to reverse code the $20mil cap coin's code...? Makes absolutely no sense

Cryptos don't make sense (look at the top20... Hcash... others...)
But that's the way it is.

Since June,we see the beginning of an early-mass-adoption movement (who here doesn't know someone who entered the market recently, or thinks about it ?).
It changes the game: Technology is not the only parameter in the valuation equation: Teams are scrutinized, marketing has a huge impact etc...
Crytpomarkets evolved: projects must adapt or die.

That said... Bitbay is a great tech. Maybe it just needs a bit of PR, and starting from the community is not a bad thing.

What if, WE, the hodlers, start promoting the coin again ?
Twitter, Facebook, LinkedIn, BitcoinTalk signature etc...

I think we need :

1- 2 officials statements about Bitbay: why is it so good? what is the end user value propostion?
-->  it can be done by an expert member here and validated by the devs.
We need 2 statments: 1 statement will be technical, and one for the average joe (simple).
We'll use these as a baseline to write the social media tweets and so.

2a- a short term roadmap for "news" and teasing (don't tease without news...):
Next releases
2b- curators for news and articles. Writers on Medium and Steemit for instance, and their links to resteem and upvote.

3- A structured and synchronized communication:
--> Same Tweets, same Hashtag (#BAY... why not something else like #NextBigCrypto)
--> Same linkedin post for all with hashtag (someone writes one and we copy paste)
--> etc etc..


We probably need a specific topic here or a slack channel to coordinate "off-the line"

Who is in ?
It's time to lift BAY up :-)

All these are great ideas.

I would add to this a few powerful tools we already have.


1. the main board here.... don't dream of underestimating the power of the main alt board.

2. this thread kept on page 1 of the ANN section - that will do more good than you know.


After the next release where the pos % is fixed and the exotic spending is introduced...plus whatever summer surprises were hinted at...

I will create a big thread on the main boad which is feel is justified and not just shilling or spam. It will attract attention.

I would prefer we had a masternode or tiered pos levels to encourage accumulation and holding but I see not many of the community nor david wants this. To me it is the main part missing here since high minting coins with low volume are very prone to churning. Any rise in price is tough when everyone is churning. Hard to get traction or momentum. Dash would be nowhere without its masternode scheme. It may be centralised but has a cap of 100 x bay. Same for pivX people love a number to aim for , people do not like messing with their masternodes every 5 mins. Accumulation and holding. The main part of getting up the cmc ladder to positions of real attention.

However even lacking that I think a  huge thread about bitbay on the main alt board will be very effective and even a small pos reward is better than nothing to make people save.

Another huge jump forward can be by obtaining the backing of a well known person with connections and followers. Bringing bitbay to the attention of someone like this can change a project over night. We need more people with connections involved with bitbay. People who know how to get bitbay inbfront of the right people. It has the capabilities to rival the top 10 projects we need some people to take note of it who can use that knowledge to get it to the top 10.

Self funding is one thing bay lacks compared to other big projects too. This needs to be looked at.

[stupid_seb]

I find it funny that Particl is 4.5x the marketcap of BitBay, but they tried to reverse BAY's tech and failed. Why invest $ into the $90mil cap coin when they failed to reverse code the $20mil cap coin's code...? Makes absolutely no sense

Cryptos don't make sense (look at the top20... Hcash... others...)
But that's the way it is.

Since June,we see the beginning of an early-mass-adoption movement (who here doesn't know someone who entered the market recently, or thinks about it ?).
It changes the game: Technology is not the only parameter in the valuation equation: Teams are scrutinized, marketing has a huge impact etc...
Crytpomarkets evolved: projects must adapt or die.

That said... Bitbay is a great tech. Maybe it just needs a bit of PR, and starting from the community is not a bad thing.

What if, WE, the hodlers, start promoting the coin again ?
Twitter, Facebook, LinkedIn, BitcoinTalk signature etc...

I think we need :

1- 2 officials statements about Bitbay: why is it so good? what is the end user value propostion?
-->  it can be done by an expert member here and validated by the devs.
We need 2 statments: 1 statement will be technical, and one for the average joe (simple).
We'll use these as a baseline to write the social media tweets and so.

2a- a short term roadmap for "news" and teasing (don't tease without news...):
Next releases
2b- curators for news and articles. Writers on Medium and Steemit for instance, and their links to resteem and upvote.

3- A structured and synchronized communication:
--> Same Tweets, same Hashtag (#BAY... why not something else like #NextBigCrypto)
--> Same linkedin post for all with hashtag (someone writes one and we copy paste)
--> etc etc..


We probably need a specific topic here or a slack channel to coordinate "off-the line"

Who is in ?
It's time to lift BAY up :-)

All these are great ideas.

I would add to this a few powerful tools we already have.


1. the main board here.... don't dream of underestimating the power of the main alt board.

2. this thread kept on page 1 of the ANN section - that will do more good than you know.


After the next release where the pos % is fixed and the exotic spending is introduced...plus whatever summer surprises were hinted at...

I will create a big thread on the main boad which is feel is justified and not just shilling or spam. It will attract attention.

I would prefer we had a masternode or tiered pos levels to encourage accumulation and holding but I see not many of the community nor david wants this. To me it is the main part missing here since high minting coins with low volume are very prone to churning. Any rise in price is tough when everyone is churning. Hard to get traction or momentum. Dash would be nowhere without its masternode scheme. It may be centralised but has a cap of 100 x bay. Same for pivX people love a number to aim for , people do not like messing with their masternodes every 5 mins. Accumulation and holding. The main part of getting up the cmc ladder to positions of real attention.

However even lacking that I think a  huge thread about bitbay on the main alt board will be very effective and even a small pos reward is better than nothing to make people save.

Another huge jump forward can be by obtaining the backing of a well known person with connections and followers. Bringing bitbay to the attention of someone like this can change a project over night. We need more people with connections involved with bitbay. People who know how to get bitbay inbfront of the right people. It has the capabilities to rival the top 10 projects we need some people to take note of it who can use that knowledge to get it to the top 10.

Self funding is one thing bay lacks compared to other big projects too. This needs to be looked at.

Excellent idea for a main thread. Count on us to keep it in the top10.
Add to that some solid announcements and it will do the trick for sure.

Regarding VIP support, maybe we can ask the community?

[Munti]

I find it funny that Particl is 4.5x the marketcap of BitBay, but they tried to reverse BAY's tech and failed. Why invest $ into the $90mil cap coin when they failed to reverse code the $20mil cap coin's code...? Makes absolutely no sense

Cryptos don't make sense (look at the top20... Hcash... others...)
But that's the way it is.

Since June,we see the beginning of an early-mass-adoption movement (who here doesn't know someone who entered the market recently, or thinks about it ?).
It changes the game: Technology is not the only parameter in the valuation equation: Teams are scrutinized, marketing has a huge impact etc...
Crytpomarkets evolved: projects must adapt or die.

That said... Bitbay is a great tech. Maybe it just needs a bit of PR, and starting from the community is not a bad thing.

What if, WE, the hodlers, start promoting the coin again ?
Twitter, Facebook, LinkedIn, BitcoinTalk signature etc...

I think we need :

1- 2 officials statements about Bitbay: why is it so good? what is the end user value propostion?
-->  it can be done by an expert member here and validated by the devs.
We need 2 statments: 1 statement will be technical, and one for the average joe (simple).
We'll use these as a baseline to write the social media tweets and so.

2a- a short term roadmap for "news" and teasing (don't tease without news...):
Next releases
2b- curators for news and articles. Writers on Medium and Steemit for instance, and their links to resteem and upvote.

3- A structured and synchronized communication:
--> Same Tweets, same Hashtag (#BAY... why not something else like #NextBigCrypto)
--> Same linkedin post for all with hashtag (someone writes one and we copy paste)
--> etc etc..


We probably need a specific topic here or a slack channel to coordinate "off-the line"

Who is in ?
It's time to lift BAY up :-)

Good initiative 
We are producing marketing material atm + will have a short term (1-3 months) marketing strategy done soon. Give us another week, and we should mostly be ready to go. You can then contact shorn on our slack to get what you need + get some pointers on where we think your efforts would make the most difference.

[HVCC]

Anyone  want a Lava lamp?   only $11 on the BitBay client!

[bamb]

Hello devs! This is a season of airdrops in crypto wonderland. Everybody is releasing drop here and there. People love free money and you can bet the influx and popularity of your coin if you can do this. Come to think of it, when you give free money, people become the product! Think about this.

[HVCC]

Hello devs! This is a season of airdrops in crypto wonderland. Everybody is releasing drop here and there. People love free money and you can bet the influx and popularity of your coin if you can do this. Come to think of it, when you give free money, people become the product! Think about this.

We literally are always giving out free BAY  Download the client and check out the offer on the marketplace!

[cryptohunter]

This latest shit in china tells me more the need for decentralised exchanges and market places is more urgent than ever.

I do think the moderator key needs to be removed so there is no centralised point of attack at all though.

[Munti]

This latest shit in china tells me more the need for decentralised exchanges and market places is more urgent than ever.

I do think the moderator key needs to be removed so there is no centralised point of attack at all though.

Our tech is a little to perfect for black markets. And neither David nor the team wants to be as associated with that. I can see why short tem investors would like us to go down that route. But the legit markets dwarf black markets, and that is what we are going after. If we were to be known as the new silk road, it would be very hard to conquer the legit markets. So the mod key needs to stay. This has also been discussed earlier here: https://bitcointalk.org/index.php?topic=890531.msg17782226#msg17782226

[*Sakura*]

...After the next release where the pos % is fixed and the exotic spending is introduced...plus whatever summer surprises were hinted at...

Come again please, dear. What about the fixed POS % and exotic spending in the next release?

[cryptohunter]

...After the next release where the pos % is fixed and the exotic spending is introduced...plus whatever summer surprises were hinted at...

Come again please, dear. What about the fixed POS % and exotic spending in the next release?

That's the things that are coming in the next update which will be out very soon.

[filipp84]

Code:

https://bitbay.net/news/148

Warning about BitBay (BAY) cryptocurrency
Due to your frequent queries, we would like to inform and warn you that BitBay (BAY) cryptocurrency is not a part of our business and is not affiliated with our exchange and trading platforms (bitbay.net and bitbay.in). Convergence of names is not intentional on our side, and legal steps have been taken in this regard. We advise special caution when investing in BitBay (BAY) cryptocurrency as we can not guarantee it with our reputation.

What is the official position Dev Team

Maybe rebranding will solve this problem.
It should solve this problem as soon as possible. Underestimation may mean death for BAY

Legal steps have been taken in this regard - It looks bad. It is uncertainty for new investors

[cryptohunter]

Code:

https://bitbay.net/news/148

Warning about BitBay (BAY) cryptocurrency
Due to your frequent queries, we would like to inform and warn you that BitBay (BAY) cryptocurrency is not a part of our business and is not affiliated with our exchange and trading platforms (bitbay.net and bitbay.in). Convergence of names is not intentional on our side, and legal steps have been taken in this regard. We advise special caution when investing in BitBay (BAY) cryptocurrency as we can not guarantee it with our reputation.

What is the official position Dev Team

Maybe rebranding will solve this problem.
It should solve this problem as soon as possible. Underestimation may mean death for BAY

Legal steps have been taken in this regard - It looks bad. It is uncertainty for new investors

Their reputation?

Death for BAY? how would that work?

Bitbay currency has been around longer hasn't it.

Not that I am totally against a rebrand of this project at some point if it had to be done.

[Munti]

Code:

https://bitbay.net/news/148

Warning about BitBay (BAY) cryptocurrency
Due to your frequent queries, we would like to inform and warn you that BitBay (BAY) cryptocurrency is not a part of our business and is not affiliated with our exchange and trading platforms (bitbay.net and bitbay.in). Convergence of names is not intentional on our side, and legal steps have been taken in this regard. We advise special caution when investing in BitBay (BAY) cryptocurrency as we can not guarantee it with our reputation.

What is the official position Dev Team

Maybe rebranding will solve this problem.
It should solve this problem as soon as possible. Underestimation may mean death for BAY

Legal steps have been taken in this regard - It looks bad. It is uncertainty for new investors

Maybe we should help avoiding confusion by advising special caution when depositing in their exchange as we can not guarantee their exchange with our reputation?

Seriously, we can't have any official position to something that is not presented to us yet. If they want a legal battle, we'll just have to wait and see what they present to us.