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CRYPTONAIRE
Sr. Member
Activity: 528
Merit: 251
Quality Crypto Collector
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September 25, 2018, 04:48:42 PM |
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Tether will probably be displaced by True US dollar (TUSD) before too long. |
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cr197
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September 25, 2018, 10:01:29 PM |
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Tether will probably be displaced by True US dollar (TUSD) before too long. Well if it were to crumble, I hope we have the peg in place before hand. It would take down a lot of exchanges including bittrex. The good news for us would be that IF they were behind the pump of 2017 for both BTC and altcoins, then they have very little invested in us anymore at this point to be of any worry. I say that because in order for them to stay afloat as long as possible, in my opinion, they will try to liquidate any holdings they still have in altcoins to try to keep themselves alive. Maybe I'm wrong, not sure. So many ways for it to play out. I just wish this industry would wake up out of it's slumber and realize that BitBay has the best stability protocol in the industry. It's a shame what the whale club manipulators and erc20 tokens have done to the industry. Everyone is scared shitless - sheep just looking for the next flock to follow |
"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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dzimbeck
Legendary
Activity: 2420
Merit: 1044
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September 26, 2018, 07:00:35 AM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. |
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Asimmo
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September 26, 2018, 01:01:54 PM |
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No need to worry about exchanges too much, we are pretty established coin - to worry about this or that exchange listing.
Besides, nowadays, listing on new big exchanges do not have that high influence, as it had to be..
Main thing is to establish Bitbay as stable coin alternative, as demand for stable coins is increasing daily..
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cryptohunter
Legendary
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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September 26, 2018, 08:52:22 PM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay |
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cr197
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September 27, 2018, 12:22:19 AM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay I responded to them as well! Thanks for the link! Just a matter of time before the big boys catch onto this! https://bitcointalk.org/index.php?topic=5038442.msg46208944#msg46208944 |
"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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ZeroCrypto
Jr. Member
Activity: 64
Merit: 1
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September 27, 2018, 03:00:48 AM |
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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. Kinda weird that Kucoin rejected Bitbay when Bitbay was listed in Bittrex, Upbit, and Cryptopia. Bittrex alone is validation enough on the quality of the project. There's a lot of new exchanges coming up. If the community needs more exchanges, there are a lot to choose from. |
LETHEAN (https://lethean.io/) ★ DECENTRALIZED P2P VPN ★ Whitepaper (https://lethean.io/vpn-whitepaper/) |
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nagobinga
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September 27, 2018, 03:04:05 AM |
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each market must have a high price or there is also a low price and maybe to sell a token for sure the price is cheap and some are expensive depending on which market we sell.
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cryptohunter
Legendary
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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September 28, 2018, 11:59:29 AM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay I responded to them as well! Thanks for the link! Just a matter of time before the big boys catch onto this! https://bitcointalk.org/index.php?topic=5038442.msg46208944#msg46208944Excellent reply to that thread cheers Also this bit is really awesome In BitBay, people can buy up liquid coins and voluntarily freeze them for a higher stake reward interest rate. The current levels are set at: voluntary freeze (3 month time lock) = 4-5% newly minted coins per year, network frozen coins = 2-2.5% newly minted coins per year, and liquid coins = 1% newly minted coins per year. So imagine you had 10 million dollars invested in BitBay at the beginning of the year. You voluntarily freeze your coin supply 4 times back to back (3 month time locks) = you gain 4-5% newly minted coins. And on top of that, BitBay's exchange price increases by 10-12% over the course of 12 months. You do the math! That's a "little" bit better return than you'll get from any of these hard pegged stable coins! I was not aware we were going with the tiered system. This is exactly what bay needs to encourage holding. Ha of course i would love even more tiers with even more variable rates. But still this is great news. Still stacking bay here but also really hoping bittrex bill gives us the green light too. |
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dzimbeck
Legendary
Activity: 2420
Merit: 1044
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September 28, 2018, 01:09:26 PM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay I responded to them as well! Thanks for the link! Just a matter of time before the big boys catch onto this! https://bitcointalk.org/index.php?topic=5038442.msg46208944#msg46208944Excellent reply to that thread cheers Also this bit is really awesome In BitBay, people can buy up liquid coins and voluntarily freeze them for a higher stake reward interest rate. The current levels are set at: voluntary freeze (3 month time lock) = 4-5% newly minted coins per year, network frozen coins = 2-2.5% newly minted coins per year, and liquid coins = 1% newly minted coins per year. So imagine you had 10 million dollars invested in BitBay at the beginning of the year. You voluntarily freeze your coin supply 4 times back to back (3 month time locks) = you gain 4-5% newly minted coins. And on top of that, BitBay's exchange price increases by 10-12% over the course of 12 months. You do the math! That's a "little" bit better return than you'll get from any of these hard pegged stable coins! I was not aware we were going with the tiered system. This is exactly what bay needs to encourage holding. Ha of course i would love even more tiers with even more variable rates. But still this is great news. Still stacking bay here but also really hoping bittrex bill gives us the green light too. Yeah I do listen to community requests and this one made sense for the long term. Although I think the time lock on voluntary is 4 months however the nice thing is if you are staking it, you don't need to freeze it again. So when the 4 months expires you can keep staking for higher interest as long as you don't move it. |
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cr197
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September 29, 2018, 07:48:49 PM |
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Peg update:
So far most of our testing has run very smoothly with new build.
David's working on some small issues.
We are close to releasing the whitelist to the invited public
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"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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cr197
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September 29, 2018, 08:21:57 PM |
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And someone was asking me earlier on another forum about the oracle for BitBay.
The more I research David's peg, the more I realize just how amazing it is.
Most experts will say the oracle protocol for a stablecoin is one of it's biggest weaknesses.
For a stablecoin to claim to be truly decentralized, such a weakness can't exist.
So how does BitBay's peg protocol counter the exploit?
#1 - First and foremost we are not hard pegged. So we do not 'break' if price changes.
#2 - The dynamic peg relies on voters to dictate what fair market price should be. The automated algorithm our peg uses is only as powerful as voters allow it to be. In other words, if you don't vote to use the algorithm to control the total coin supply, then it can't do anything to change it. As far as I know we are the only stablecoin that enforces coin supply by 'human' oracles - the majority consensus. Who knows... there may never be a time where the algorithm has more voting power than the manual voters. And David purposely made the voting system proactive. Which means you can't just set the vote to either deflate/inflate/hold/algo and then walk away never to return to your computer. On the contrary, when you vote you only get a set amount of votes before you run out and have to 'reset' which voting input you want. This further strengthens the presence of a 'human' oracle the controls the majority consensus!
3# - Voting sessions are regulated. 200 blocks per voting session, which equals about 7 voting sessions per day (roughly 3.55 hours). If for an example, the majority of voters were voting in favor of the algorithm to manage coin supply. Then any exploiters would have to manage price manipulation for x amount of time before they could potentially cause the algorithm to work in their favor. But at any given time 'human' oracles could simply alter their voting to a manual vote to create resistance against the exploiters. This counters the power of the algorithm to change supply to their advantage.
#4 - In the near future we will be able to include our own algorithms that will vote based on our own desires. This will lead to multiple TA indicators at work to fit the needs of the investors who implement them. Yet again, it's never a permanent fix. Anytime these traders that use an algorithm, see manipulation at play trying to exploit the automated 'oracle', they can simply revert back to voting manually and thus creating what ever resistance they need to counter an attack.
So ask yourself how many stablecoins have a more sound oracle system?
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"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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cryptohunter
Legendary
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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September 30, 2018, 08:14:29 PM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay I responded to them as well! Thanks for the link! Just a matter of time before the big boys catch onto this! https://bitcointalk.org/index.php?topic=5038442.msg46208944#msg46208944Excellent reply to that thread cheers Also this bit is really awesome In BitBay, people can buy up liquid coins and voluntarily freeze them for a higher stake reward interest rate. The current levels are set at: voluntary freeze (3 month time lock) = 4-5% newly minted coins per year, network frozen coins = 2-2.5% newly minted coins per year, and liquid coins = 1% newly minted coins per year. So imagine you had 10 million dollars invested in BitBay at the beginning of the year. You voluntarily freeze your coin supply 4 times back to back (3 month time locks) = you gain 4-5% newly minted coins. And on top of that, BitBay's exchange price increases by 10-12% over the course of 12 months. You do the math! That's a "little" bit better return than you'll get from any of these hard pegged stable coins! I was not aware we were going with the tiered system. This is exactly what bay needs to encourage holding. Ha of course i would love even more tiers with even more variable rates. But still this is great news. Still stacking bay here but also really hoping bittrex bill gives us the green light too. Yeah I do listen to community requests and this one made sense for the long term. Although I think the time lock on voluntary is 4 months however the nice thing is if you are staking it, you don't need to freeze it again. So when the 4 months expires you can keep staking for higher interest as long as you don't move it. Excellent work David. It is a great surprise that is being included already. I wasn't expecting it. I was wondering will all pegging features like selecting voluntary lockdown or putting voting on auto pilot be available from the QT and even web wallet or is it all going to be operated from the the marketplace? |
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dzimbeck
Legendary
Activity: 2420
Merit: 1044
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October 01, 2018, 06:33:13 PM |
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Very soon! We are converting my Python code to c++! So that will make it nice and fast. Then the last little part is I need to make basic QT functions and exchange stuff. All my testing is going excellent everything works. I should be doing a new release to private testers today and then we open up public tests. We will probably have a demo exchange so our users can test the feel of this peg and make a game out of it. I've got to talk to our team about that. That's good news indeed. People still don't seem to get that a stable coin that relies on audits and promises and taking peoples word for it is not really in the spirit of crypto ... https://bitcointalk.org/index.php?topic=5038442.msg46194898#msg46194898what you want is a fully transparent trustless and democratic method like bitbay I responded to them as well! Thanks for the link! Just a matter of time before the big boys catch onto this! https://bitcointalk.org/index.php?topic=5038442.msg46208944#msg46208944Excellent reply to that thread cheers Also this bit is really awesome In BitBay, people can buy up liquid coins and voluntarily freeze them for a higher stake reward interest rate. The current levels are set at: voluntary freeze (3 month time lock) = 4-5% newly minted coins per year, network frozen coins = 2-2.5% newly minted coins per year, and liquid coins = 1% newly minted coins per year. So imagine you had 10 million dollars invested in BitBay at the beginning of the year. You voluntarily freeze your coin supply 4 times back to back (3 month time locks) = you gain 4-5% newly minted coins. And on top of that, BitBay's exchange price increases by 10-12% over the course of 12 months. You do the math! That's a "little" bit better return than you'll get from any of these hard pegged stable coins! I was not aware we were going with the tiered system. This is exactly what bay needs to encourage holding. Ha of course i would love even more tiers with even more variable rates. But still this is great news. Still stacking bay here but also really hoping bittrex bill gives us the green light too. Yeah I do listen to community requests and this one made sense for the long term. Although I think the time lock on voluntary is 4 months however the nice thing is if you are staking it, you don't need to freeze it again. So when the 4 months expires you can keep staking for higher interest as long as you don't move it. Excellent work David. It is a great surprise that is being included already. I wasn't expecting it. I was wondering will all pegging features like selecting voluntary lockdown or putting voting on auto pilot be available from the QT and even web wallet or is it all going to be operated from the the marketplace? Well the QT as usual is low hanging fruit. It will be supported with at least basic sending. And probably reserve transfers too. However really it's only purpose is to give the exchanges something light weight to use. |
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cr197
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October 01, 2018, 09:16:00 PM |
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Well the QT as usual is low hanging fruit. It will be supported with at least basic sending. And probably reserve transfers too. However really it's only purpose is to give the exchanges something light weight to use.
Lazy exchanges I might add. Heck we just found out that QIEX is actually using our Client to host user accounts. Why not?! It's a multisig wallet. You'd think that with the amount of exchanges expected to exceed cryptocurrencies in the next 2 years (my joking statistic), that they would seek out every leveraged tool they could find to be better than their competition. |
"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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cr197
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October 01, 2018, 09:17:41 PM |
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Update!!
The public invited beta peg build is almost ready to be released!
Just gathering a few more addresses to add to whitelist
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"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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legday
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October 02, 2018, 05:46:08 AM |
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recently, pegging has become more and more popular. Bitbay might be on the right track here, if done right and I am against hard pegging, so that is another choice I agree with.
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cr197
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October 03, 2018, 08:36:21 PM |
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recently, pegging has become more and more popular. Bitbay might be on the right track here, if done right and I am against hard pegging, so that is another choice I agree with.
Thanks, I still don't know if anyone else is trying to create a stability protocol that allows price to increase and hold if demand grows as well. The best of both worlds! |
"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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