BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[R-J-F]

Peg Update:

David's just taking a little bit longer with the new peg build.

- SNIP -

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

Agreed and, thanks for the easy to understand explanation of how the Peg works. This is truly a new way to look at crypto, might start a revolution! In any case, hats off to David and crew!

[cryptohunter]

I notice a couple of projects are now able to demonstrate some kind of solar powered radio transmission for their blockchains

eventually hoping to null the need for the internet and grid bound electricity.

I think this is something that would totally be something david would be interested in for bitbay.

Of course radio transmissions require license in many duristictions

mesh networks are the next step i guess in the decentralisation process

radio is cool too though

I know david has mentioned these things before and now net neutrality looks to be under attack this could be just the time to start looking at this.

[dzimbeck]

I notice a couple of projects are now able to demonstrate some kind of solar powered radio transmission for their blockchains

eventually hoping to null the need for the internet and grid bound electricity.

I think this is something that would totally be something david would be interested in for bitbay.

Of course radio transmissions require license in many duristictions

mesh networks are the next step i guess in the decentralisation process

radio is cool too though

I know david has mentioned these things before and now net neutrality looks to be under attack this could be just the time to start looking at this.

Absolutely I love the idea of mesh. I think we should be 3d printing these things. And I think radio should be encrypted even though the military is against encrypted radio the air waves should be free. Long range radio can go several miles. If balloons are used I'm pretty sure it can go even further. Maybe even something similar to skywave can go further. This type of tech might even be able to get around IP address issues.

[cr197]

Peg Update!!!

New private build is out!
Testing now!

Last voting session just froze my liquid supply from 90.4% to 87.7%
A 2.7% decrease. Which when you take in consideration discounting effects when freezing and compounding effects when unfreezing -  that is right on par with the 3% max change per voting session

Can't wait to rek the manipulators once and for all with this revolutionary system!

[XxOtakuXx]

Kucoin Rejected BitBay Listing saying such lame reasons.

[cr197]

Peg Testing Update

So new voting session in. Froze down from 87.7% to 85.1%
So a 2.6% decrease. Last time it was 2.7%
So it's averaging so far with a discounted effect of 1/10th of a percent per voting session.

I'm guessing if we unfreeze it would create a compounding effect of 1/10th of a percentage as well

_________________________________________________________________
Just voluntarily froze 5 coins for 3 months (it's a default timeframe)!
Voluntarily frozen coins earn twice the interest rate of frozen coins and and 4 times the interest rate of liquid coins!

It's super easy to do.

https://chainz.cryptoid.info/bay/tx.dws?922285242fcef58491bc4f65652f3ffd4fa0a3b3b32677fc6c8e743bd65adbfc.htm

[cr197]

Peg Testing Update

So new voting session in. Froze down from 87.7% to 85.1%
So a 2.6% decrease. Last time it was 2.7%
So it's averaging so far with a discounted effect of 1/10th of a percent per voting session.

I'm guessing if we unfreeze it would create a compounding effect of 1/10th of a percentage as well

_________________________________________________________________
Just voluntarily froze 5 coins for 3 months (it's a default timeframe)!
Voluntarily frozen coins earn twice the interest rate of frozen coins and and 4 times the interest rate of liquid coins!

It's super easy to do.

https://chainz.cryptoid.info/bay/tx.dws?922285242fcef58491bc4f65652f3ffd4fa0a3b3b32677fc6c8e743bd65adbfc.htm

People boast about masternodes as some sort of amazing perk.
With BitBay you can simply buy up as much liquid coin as you want and if you want to voluntarily freeze it then you get 4x the interest rate as liquid coins staking

[dzimbeck]

Kucoin Rejected BitBay Listing saying such lame reasons.

Image link not valid

[For_Canal_Coins]

what is the Poker Site (TBC) for what is it going to be used for?

[cryptohunter]

I notice a couple of projects are now able to demonstrate some kind of solar powered radio transmission for their blockchains

eventually hoping to null the need for the internet and grid bound electricity.

I think this is something that would totally be something david would be interested in for bitbay.

Of course radio transmissions require license in many duristictions

mesh networks are the next step i guess in the decentralisation process

radio is cool too though

I know david has mentioned these things before and now net neutrality looks to be under attack this could be just the time to start looking at this.

Absolutely I love the idea of mesh. I think we should be 3d printing these things. And I think radio should be encrypted even though the military is against encrypted radio the air waves should be free. Long range radio can go several miles. If balloons are used I'm pretty sure it can go even further. Maybe even something similar to skywave can go further. This type of tech might even be able to get around IP address issues.

Totally agree. Can't wait for this to take off.

If they could be 3d printed off cheaply enough and fully solar powered then they could soon be developed and deployed in numbers for it to work nicely.

[cryptohunter]

Kucoin Rejected BitBay Listing saying such lame reasons.

Image link not valid

 "So I hear @kucoincom turned down Bitbay due2 them not having 'strong enough roadmap & tech'"

LOL

Please David call their devs forth for a public comparison to the other coins they list there.

Personally I don't trust many of these type exchanges

So now unless you have some new hyped up new consensus mechanism that is probably more centralised and less secure than what we have then you have no tech. Or just write some nonsense white paper that sounds smart to them and off you go.


Then again that exchange could be a worry right now until things are clearer there.

No huge loss

So long as we have bittrex and upbit that's a good start and perhaps all we need.

[For_Canal_Coins]

especially since a radio jammer is multi-frequency.

[For_Canal_Coins]

what is the Poker Site (TBC) for what is it going to be used for?

[For_Canal_Coins]

Kucoin Rejected BitBay Listing saying such lame reasons.

https://tinyjpg.com/web/output/pn3ah51f3h6z1kqwket70u6za3uchwuz/ed0ebfb6-2ac6-40c5-ad57-45cd1b33b833.jpg

Image link not valid

 "So I hear @kucoincom turned down Bitbay due2 them not having 'strong enough roadmap & tech'"

LOL

Please David call their devs forth for a public comparison to the other coins they list there.

Personally I don't trust many of these type exchanges

So now unless you have some new hyped up new consensus mechanism that is probably more centralised and less secure than what we have then you have no tech. Or just write some nonsense white paper that sounds smart to them and off you go.


Then again that exchange could be a worry right now until things are clearer there.

No huge loss

So long as we have bittrex and upbit that's a good start and perhaps all we need.

Bitbay is not Chinese you have your explanation ;-)

[tradersnow]

what is the Poker Site (TBC) for what is it going to be used for?

The poker platform is a separate project which one of the BitBay devs is building independently. While it isn't directly affiliated with BitBay, players will be able to use a unique multisig wallet, and can fund it with BAY. It's awesome because players won't have to store their coins (and winnings) in a 3rd party custodian wallet.

The project is getting really close to completion, and the dev is in the process of narrowing down locations to host the website.

[R-J-F]

Kucoin Rejected BitBay Listing saying such lame reasons.

Who needs Kucoin, their a joke. In time, every exchange will want Bay, then we rule...

[dzimbeck]

Kucoin Rejected BitBay Listing saying such lame reasons.

Who needs Kucoin, their a joke. In time, every exchange will want Bay, then we rule...

Yeah actually I'm at peace with listing on a small exchange as long as the peg is supported. There was a time where people said if we didn't get on Poloniex we wouldn't succeed. Well I guess we proved them wrong. The same can be said for Bittrex and the others.

I think that if the peg is supported properly then traders will register on the small exchange just to trade it because after all, it's safer than Tether because less concern over being regulated out of existence. And of course no concern of bank runs or losing banking relationships. Also traders won't be able to ignore that it will be hard to dump the coin for long periods of time. We might end up causing a small exchange to get big.

On the other hand, the small exchanges might be more risky for disappearing. Although history has shown big exchanges also do this as some of the biggest in the world have performed the most notorious defaults. Bittrex and Upbit could be worth a lot of money so it maybe isn't worth it to sacrifice the listings. However, maybe it would be OK as new exchanges are always appearing and getting reasonable volume. The peg doesn't need as much volume to spike because we can control supply collectively.

[cr197]

No need to have a doubtful outlook on acceptance.

What does bittrex have to lose?
Innovation is what drives volume.

This coin has had this innovation on its roadmap since day 1.
Pretty much the entire community is in favor of this innovation.

The voting and algorithm is fair and balanced.
We will actually help market manipulators make more money than their stupid AI bots ever could, because we can curb any major sell off within just 3-4 days.
Meanwhile, we and over 80% of the legacy altcoin community have been dealing with an 8 month bear trend.
It's kind of nice knowing that a bear trend can only last a few days with BitBay after the peg is released.

The key components to keeping Bittrex happy with the peg protocol integration is:
1) Provide a system that keeps their hands neutral - this has already been accomplished through a voting and algorithmic protocol that is 100% automated.
2) Provide a system that keeps their current security protocols sustained - David has a solution that still needs to be coded that will allow them to keep their cold wallets cold.


Don't forget they have financial backers to appease. These backers want bittrex back to it's former glory where it use to be the #1 exchange in volume

[dzimbeck]

No need to have a doubtful outlook on acceptance.

What does bittrex have to lose?
Innovation is what drives volume.

This coin has had this innovation on its roadmap since day 1.
Pretty much the entire community is in favor of this innovation.

The voting and algorithm is fair and balanced.
We will actually help market manipulators make more money than their stupid AI bots ever could, because we can curb any major sell off within just 3-4 days.
Meanwhile, we and over 80% of the legacy altcoin community have been dealing with an 8 month bear trend.
It's kind of nice knowing that a bear trend can only last a few days with BitBay after the peg is released.

The key components to keeping Bittrex happy with the peg protocol integration is:
1) Provide a system that keeps their hands neutral - this has already been accomplished through a voting and algorithmic protocol that is 100% automated.
2) Provide a system that keeps their current security protocols sustained - David has a solution that still needs to be coded that will allow them to keep their cold wallets cold.


Don't forget they have financial backers to appease. These backers want bittrex back to it's former glory where it use to be the #1 exchange in volume

Well my point is I'm not concerned either way anymore. We of course have started talking to them and they asked me to send the proposal. We will probably test this peg on a demo exchange first to show them how it looks.

The can only gain from it. Hosting the worlds first decentralized peg. And we can stop catastrophic sell offs in almost real time?!?! It's crazy to think how much can be gained from that. I really would like to see them add the reserve market too so users can trade their frozen funds. Those two side by side would be really perfect. Still because it's so new of a thing we should just do whatever is needed to launch it. After all we have waited long enough.

[cryptohunter]

No need to have a doubtful outlook on acceptance.

What does bittrex have to lose?
Innovation is what drives volume.

This coin has had this innovation on its roadmap since day 1.
Pretty much the entire community is in favor of this innovation.

The voting and algorithm is fair and balanced.
We will actually help market manipulators make more money than their stupid AI bots ever could, because we can curb any major sell off within just 3-4 days.
Meanwhile, we and over 80% of the legacy altcoin community have been dealing with an 8 month bear trend.
It's kind of nice knowing that a bear trend can only last a few days with BitBay after the peg is released.

The key components to keeping Bittrex happy with the peg protocol integration is:
1) Provide a system that keeps their hands neutral - this has already been accomplished through a voting and algorithmic protocol that is 100% automated.
2) Provide a system that keeps their current security protocols sustained - David has a solution that still needs to be coded that will allow them to keep their cold wallets cold.


Don't forget they have financial backers to appease. These backers want bittrex back to it's former glory where it use to be the #1 exchange in volume

Well my point is I'm not concerned either way anymore. We of course have started talking to them and they asked me to send the proposal. We will probably test this peg on a demo exchange first to show them how it looks.

The can only gain from it. Hosting the worlds first decentralized peg. And we can stop catastrophic sell offs in almost real time?!?! It's crazy to think how much can be gained from that. I really would like to see them add the reserve market too so users can trade their frozen funds. Those two side by side would be really perfect. Still because it's so new of a thing we should just do whatever is needed to launch it. After all we have waited long enough.

I think bittrex will be very interested in it once they fully understand it.

Let's await bittrex reply to the proposal. I hope bittrex bill will analyse it and not just some other employee who perhaps will not understand how interesting this will be.

They added extra software for ignis so they can do it is they choose to.

It is very important we get to speak directly with bittrex bill not just some mod or employee

We at bitbay really need to attract some high profile people in this arena that probably have lots of important peeps on their skype or other chat medium who could be very useful for us getting this out there.