BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[cr197]

yes a lot is happening with BitBay .Today a double deposit web market place demo is up and running and it looks great but more features will be add as time goes on.

This will be huge once it takes off and is much needed really.
I still think the totally decentralised market place relying on no central servers that David has created is amazing.
However I think the masses will appreciate a web browser based service in a big way.

Once it starts to take off and snowball it will be quite something to watch and be in on.

Well people want an easy button. It will allow for a super fast system and even mobile access.
The biggest factor is that we can actually keep transactions protected by DDE smart contracts. This will still allow our web marketplace to give merchants the ability to undercut the competition compared to 3rd party merchant service hosts like eBay, Amazon, or even other crypto marketplaces.

And yeah, if people still want to be decentralized all the way, they can still have it! The best of both worlds with a stable price.

That's the other aspect that people have yet to realize. We are way ahead of all the other stablecoins in regards to real world use. While they are busy trying to build their peg, they still have to come up with services that allow them to actually apply their currency to. Most won't bother trying, they will just use centralized 3rd party service hosts to do that for them.
But that equals fees.
They will never be able to undercut our marketplace services because we don't charge anything to use them!

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[88998899]

Hello! BitBay Client is synchronized by 6% and does not want to continue. (Client version 1.35) What's the problem, help.

[cryptohunter]

Hello! BitBay Client is synchronized by 6% and does not want to continue. (Client version 1.35) What's the problem, help.

all seems fine with the network.,.. maybe just pausing and will start again after some time.

[tradersnow]

Hello! BitBay Client is synchronized by 6% and does not want to continue. (Client version 1.35) What's the problem, help.

Are you using the native Mac version client by any chance?

If you're still having troubles, please post the problem with details here: https://forum.bitbay.market/c/support, and one of the BitBay team members will follow up with you shortly.

[88998899]

windows 10 I'm using


https://s8.postimg.cc/flhyr92b9/image.jpg

https://s8.postimg.cc/e7qbve5gl/image.jpg

all the blocks 1817402

[dzimbeck]

windows 10 I'm using






all the blocks 1817402

Please PM me debug.log in c:\bitbay\bitbaydata

[88998899]

windows 10 I'm using


https://s8.postimg.cc/flhyr92b9/image.jpg

https://s8.postimg.cc/e7qbve5gl/image.jpg

all the blocks 1817402

Please PM me debug.log in c:\bitbay\bitbaydata

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

[dzimbeck]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

[88998899]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

[dzimbeck]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

It usually checks a server for internet connectivity... in your screenshot it said it wasn't connected to the internet. The Markets client is where all the action is so perhaps it's best to check why. You can activate the debug file in settings and then restart the program and let it try to connect and if it fails then close it and send a file it will generate called c:\bitbay\debug.txt

[88998899]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

It usually checks a server for internet connectivity... in your screenshot it said it wasn't connected to the internet. The Markets client is where all the action is so perhaps it's best to check why. You can activate the debug file in settings and then restart the program and let it try to connect and if it fails then close it and send a file it will generate called c:\bitbay\debug.txt

Did as you requested c:\bitbay\ debug.txt

https://drive.google.com/open?id=19LWi16KnXR6Bs6mg3aIUiQMaL38abKf1

[dzimbeck]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

It usually checks a server for internet connectivity... in your screenshot it said it wasn't connected to the internet. The Markets client is where all the action is so perhaps it's best to check why. You can activate the debug file in settings and then restart the program and let it try to connect and if it fails then close it and send a file it will generate called c:\bitbay\debug.txt

Did as you requested c:\bitbay\ debug.txt

https://drive.google.com/open?id=19LWi16KnXR6Bs6mg3aIUiQMaL38abKf1

Hmm there doesn't  seem to be much about this on github for requests. Well actually the newer release we check urllib2 first like in previous builds. So when I release the update in a couple days will let you know.

So are you running TOR or a proxy or anything that interferes with some web requests?

[88998899]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

It usually checks a server for internet connectivity... in your screenshot it said it wasn't connected to the internet. The Markets client is where all the action is so perhaps it's best to check why. You can activate the debug file in settings and then restart the program and let it try to connect and if it fails then close it and send a file it will generate called c:\bitbay\debug.txt

Did as you requested c:\bitbay\ debug.txt

https://drive.google.com/open?id=19LWi16KnXR6Bs6mg3aIUiQMaL38abKf1

Hmm there doesn't  seem to be much about this on github for requests. Well actually the newer release we check urllib2 first like in previous builds. So when I release the update in a couple days will let you know.

So are you running TOR or a proxy or anything that interferes with some web requests?

Hi,! It seems the problem was hiding in the assembly of windows 10 installed on my computer. I installed windows 7 and BitBay Client earned properly. Sorry, What distracted you in vain!

debug.txt:
Connection attempt: 0
Object::connect: No such slot HowManyOfYourBeliefsArePropagatedBlackAlways::timeoutSlot()
Connection attempt: 1
Connection attempt: 2
Connection attempt: 3
connection to network successful

https://postimg.cc/image/dmx3rz3q9/

https://postimg.cc/image/l2wddvu1d/

[dzimbeck]

https://drive.google.com/open?id=18kJUyEanPsVPe2v7rnFgfoh_3cFzyKYt

It looks like you were not connected to the internet intermittently. Because you said it was saying only 6%. Please go to your history tab and let me know
if it says it see if it thinks it's connected. Also what country are you from? Some countries have firewall.

Hi, Qt wallet works without problems. In version 1.34 there are no problems. I only have a problem, I think it's in my computer, I'll try to figure it out. Thanks for the help! I'm from Russia.

It usually checks a server for internet connectivity... in your screenshot it said it wasn't connected to the internet. The Markets client is where all the action is so perhaps it's best to check why. You can activate the debug file in settings and then restart the program and let it try to connect and if it fails then close it and send a file it will generate called c:\bitbay\debug.txt

Did as you requested c:\bitbay\ debug.txt

https://drive.google.com/open?id=19LWi16KnXR6Bs6mg3aIUiQMaL38abKf1

Hmm there doesn't  seem to be much about this on github for requests. Well actually the newer release we check urllib2 first like in previous builds. So when I release the update in a couple days will let you know.

So are you running TOR or a proxy or anything that interferes with some web requests?

Hi,! It seems the problem was hiding in the assembly of windows 10 installed on my computer. I installed windows 7 and BitBay Client earned properly. Sorry, What distracted you in vain!

debug.txt:
Connection attempt: 0
Object::connect: No such slot HowManyOfYourBeliefsArePropagatedBlackAlways::timeoutSlot()
Connection attempt: 1
Connection attempt: 2
Connection attempt: 3
connection to network successful

https://postimg.cc/image/dmx3rz3q9/

https://postimg.cc/image/l2wddvu1d/

Yes it was a very strange problem. Honestly I had not seen this one before and found very little help for requests package on github. Either way, two different libraries are usually used for that request it's only to check for connectivity. Some requests are only made with one library because they require it. And all of them can be routed through TOR or a proxy upon request. Except maybe one or two that use cloudflare so those don't like TOR. I think TOR + proxy bypasses that restriction.

[SheldonLeeCooper]

BitBay is proud to join Signal on @blockfolio, the most popular app for managing your #crypto portfolio! Add $BAY in the app now to get all the latest updates and news from the BitBay team!

https://twitter.com/BitBayofficial/status/1040717010773204995

[cr197]

Everything is falling into place

David should have the new peg build out anytime now.
We will test ASAP so we can get the community testers involved as well.

[cr197]

Found active seller.
Not much left.
https://chainz.cryptoid.info/bay/wallet.dws?18840.htm

Can't wait till the day comes that we can freeze and regulate these guys from drastically hurting investor confidence anymore.
These last 8 months have been brutal for mostly all of the altcoins.

We are just a few weeks away from removing their abilities anymore.
And it couldn't have happened at a better time. The market manipulators have been busy dumping their altcoin reserves.
They should be close to running out of Bay.
The dynamic peg will regulate them no matter what happens.
But the idea that we will soon have a dynamic peg in place, while the market manipulators are nearly out of Bay coins, it is going to make the peg release that much better!

It's going to be fun to watch as the true investors begin to realize that they ARE the "market movers", without even having to trade!
Manipulators that are trying to drive price down, can't sell and vote at the same time. So this will make them easy to regulate.
It will be a first for the crypto industry where a majority consensus always rules as the "market mover"! Rather than just a handful of elite whales that hold all their coins on an exchange and paint the charts as they see fit.

The manipulators are trying to force altcoins into submission of bitcoins price action, that won't be possible anymore with us!

[dzimbeck]

Found active seller.
Not much left.
https://chainz.cryptoid.info/bay/wallet.dws?18840.htm

Can't wait till the day comes that we can freeze and regulate these guys from drastically hurting investor confidence anymore.
These last 8 months have been brutal for mostly all of the altcoins.

We are just a few weeks away from removing their abilities anymore.
And it couldn't have happened at a better time. The market manipulators have been busy dumping their altcoin reserves.
They should be close to running out of Bay.
The dynamic peg will regulate them no matter what happens.
But the idea that we will soon have a dynamic peg in place, while the market manipulators are nearly out of Bay coins, it is going to make the peg release that much better!

It's going to be fun to watch as the true investors begin to realize that they ARE the "market movers", without even having to trade!
Manipulators that are trying to drive price down, can't sell and vote at the same time. So this will make them easy to regulate.
It will be a first for the crypto industry where a majority consensus always rules as the "market mover"! Rather than just a handful of elite whales that hold all their coins on an exchange and paint the charts as they see fit.

The manipulators are trying to force altcoins into submission of bitcoins price action, that won't be possible anymore with us!

It always has been one of the big weaknesses of the market is that the investors have no control over sell pressure. And now we finally have a tool for them. So all that's really left is talking to exchanges.

[jjacob]

Found active seller.
Not much left.
https://chainz.cryptoid.info/bay/wallet.dws?18840.htm

Can't wait till the day comes that we can freeze and regulate these guys from drastically hurting investor confidence anymore.
These last 8 months have been brutal for mostly all of the altcoins.

We are just a few weeks away from removing their abilities anymore.
And it couldn't have happened at a better time. The market manipulators have been busy dumping their altcoin reserves.
They should be close to running out of Bay.
The dynamic peg will regulate them no matter what happens.
But the idea that we will soon have a dynamic peg in place, while the market manipulators are nearly out of Bay coins, it is going to make the peg release that much better!

The timing is really good. The peg will protect value, although the entire value cannot be realized in one go.
This will go a long way in differentiating Bitbay from other altcoins. Market manipulators will know that it is in their best interest to leave this coin alone.

[cr197]

Peg Update:

David's just taking a little bit longer with the new peg build.
We realized that the 1% freeze per voting session is just not responsive enough. Considering that it only freezing 1% of liquid supply rather than total supply. So when we consecutively freeze coins, it actually "discounts" the rate of deflation. And when we consecutively unfreeze coins it "compounds" the rate of inflation.
So rather than have a 1% rate, we've come to conclusion that a percentage range would be the best option. Currently, David is setting up the new build to have a range of 1-3% per voting session. Each voting session is 200 blocks. which is roughly 7 sessions per day.
So depending on democratic voting and algorithm, we will now have a dynamic range to change supply.
Only befitting for a dynamic peg 😆
So in one day we now have the potential to freeze up to 21% of the coins supply (with discounting effect because it's based on existing liquid supply) and a max of 21% unfreezing (compounding effect). This creates a much more responsive structure, and therefore reduces the volatility compared to a flat rate 1% change.
Almost there guys! 😜

So if my math is correct and based on discounting and compounding interest rate effects...
If you have 1000 coins and we vote to freeze 3% every voting session for that day. Then those 1000 liquid coins would then be 807.9 liquid and 192.1 frozen
Where if it was just an initial 21% of 1000, that would actually be 790 coins liquid and 210 frozen.

That doesn't seem like much of a difference, but when we are dealing with just a flat rate 1% rate change system with a discounting and compounding effect, it becomes much more responsive!

So now the inverse applies to unfreezing.
Lets say you have 500 liquid and 500 frozen.
And the community votes to unfreeze by 21%
(3% per 7 voting sessions). Then we have a compounding effect that would unfreeze your supply to 614.9 liquid and 385.1 frozen.

Again not much extra compared to a straight rate of 21% of 500 = 605 coins liquid.
But in regards to just using 1%, we now have a much more responsive system

Bear manipulators that try to control the market price for their own best interests, will just have to give up and try somewhere else. 😜
Knowing we can freeze upwards of 63% in just 3 days, will make it hard even for the largest whale to do any real manipulation before they run out of the power to control the exchange!
With BitBay's dynamic peg the majority consensus is the "market mover"

Meanwhile, coins like Kowala, that use a burn system to deflate, will have to wait till their burn protocol supposedly allows for demand to catch up with supply. During this time miners supporting the network have virtually zero incentive to keep mining.

They can't burn peoples accounts, that would piss off investors. So they just have to sit back and burn newly minted coins from miners.
This could take weeks if not months to correct itself, especially if bitcoin decides to turn bullish for a long period of time.

Meanwhile we simply freeze a portion of everyone's liquid supply. There is no need to burn them. This protects your equity fairly. Your frozen coins actually mine more profit than liquid coins, so miners GAIN incentive to support the network  with frozen coins. This in turn provides demand and the ability for investors to buy frozen coins from those that just can't wait for some of their coins to unfreeze.
It's perfect. Those that want to sell can still sell - even frozen coins. It's just that the buyers will receive these frozen coins with a  time lock on them to protect the price. Once the time lock expires, then the coins become liquid again and the investor who bought at a potentially lower price could either hold the profit or sell at a profit once matured.

A much more responsive and fair system to all these stablecoins that are using a burn system.