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Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 541860 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (2 posts by 1+ user deleted.)
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October 20, 2018, 02:45:30 PM
 #6581

Hi all. We have a very busy week ahead so I just wanted to let you know what we have planned...

Early next week we are aiming to release the Android app and web wallet upgrades so we'll be testing these two thoroughly this week. Both wallets will be using our new custom block processor meaning faster transactions and more reliable balance reporting.

We are also planning to release the live wallet feature and a new light theme for the web marketplace demo. If you are a demo tester then we’ll let you know more about this in Slack.
And finally we will be updating the desktop client and Qt wallets this week with some new features in preparation for the next phase of dynamic peg testing.

Any questions, feel free to ask here and thanks as always for your continued support Smiley

Shorn, Project Manager


Great news! Also great that Bay is now on Blockfolio, keep the signals coming! Just bought up a few million more, most promising project out there that will actually work as designed.

A few million more??

Is that for real?

Also agree lots of great news coming out.

One thing I have noticed is I am getting a blackcoin alert message flashing in the bitbay wallet? is this meant to happen?

Have i got some older bugged qt running? or will all pos3 based coins have this flashing?

Actually I had bought a little bit more too a while back. Even though this is the worst bear market in altcoin history.

They say the best time to buy is when there is blood in the streets. Also "Be greedy when others are fearful and fearful when they are greedy."

The QT message is because we all share the Blackcoin alert key. Rat4 is doing another project and I'm assuming he has probably accidentally signaled 100s of different coins by doing that. We did change the alert key at my github but I'm not home to build the new QT. Yshurik I think maybe was building it and we will push an update. However it is nothing to worry about as it only is for in wallet messages.

Well I couldn't agree more about this being the best buy out there.
But grabbing a few million more is quite a bit. I wish I had the free capital to grab in bunches of millions.

Good to hear though I'm sure bay this cheap is going to been seen as a once in a lifetime opportunity in the future.

Thanks for reply about the QT.

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October 23, 2018, 12:59:36 PM
 #6582

Where do we stand on pegging process?
Did we finished testing mode?
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October 23, 2018, 05:28:02 PM
 #6583

Where do we stand on pegging process?
Did we finished testing mode?

Yeah all the tests went perfectly well. Yshurik is converting my code in Python to c++ to increase processing speed and I'm coding the exchange implementation which also needs to track the peg. That part is almost done in Python and then we just need to test it on anoxy's exchange which we will encourage all of the users to trade on the demo exchange which will probably just use testnet coins. If time allows we can have a little promotion for that. After the exchange implementation is tested then we have something to show all the exchanges. Then we release it into the wild.
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October 23, 2018, 05:29:38 PM
 #6584

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October 29, 2018, 02:19:42 PM
 #6585

Where do we stand on pegging process?
Did we finished testing mode?

Yeah all the tests went perfectly well. Yshurik is converting my code in Python to c++ to increase processing speed and I'm coding the exchange implementation which also needs to track the peg. That part is almost done in Python and then we just need to test it on anoxy's exchange which we will encourage all of the users to trade on the demo exchange which will probably just use testnet coins. If time allows we can have a little promotion for that. After the exchange implementation is tested then we have something to show all the exchanges. Then we release it into the wild.

Great news, which exchange is anoxy's?

Did you attend the london conference on the 25th David? that looks like you in the pic at the front nearest the camera?

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October 29, 2018, 06:04:49 PM
 #6586

Where do we stand on pegging process?
Did we finished testing mode?

Yeah all the tests went perfectly well. Yshurik is converting my code in Python to c++ to increase processing speed and I'm coding the exchange implementation which also needs to track the peg. That part is almost done in Python and then we just need to test it on anoxy's exchange which we will encourage all of the users to trade on the demo exchange which will probably just use testnet coins. If time allows we can have a little promotion for that. After the exchange implementation is tested then we have something to show all the exchanges. Then we release it into the wild.

Great news, which exchange is anoxy's?

Did you attend the london conference on the 25th David? that looks like you in the pic at the front nearest the camera?

Nope haven't attended any conferences. And anoxy is making an exchange called Bayex (no relation to BitBay the name is coincidental)
And yeah so there is where we will probably be able to test this peg. I'm finishing up the code for the exchanges.
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October 29, 2018, 11:46:09 PM
 #6587

Where do we stand on pegging process?
Did we finished testing mode?

Yeah all the tests went perfectly well. Yshurik is converting my code in Python to c++ to increase processing speed and I'm coding the exchange implementation which also needs to track the peg. That part is almost done in Python and then we just need to test it on anoxy's exchange which we will encourage all of the users to trade on the demo exchange which will probably just use testnet coins. If time allows we can have a little promotion for that. After the exchange implementation is tested then we have something to show all the exchanges. Then we release it into the wild.

Great news, which exchange is anoxy's?

Did you attend the london conference on the 25th David? that looks like you in the pic at the front nearest the camera?

Nope haven't attended any conferences. And anoxy is making an exchange called Bayex (no relation to BitBay the name is coincidental)
And yeah so there is where we will probably be able to test this peg. I'm finishing up the code for the exchanges.

That's all great news. Can't wait to start pushing bay out there as the number 1 stable coin in that is actually trustless and decentralised.

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October 30, 2018, 06:47:34 AM
 #6588

Does the market work in the meantime?

Is there a lightwallet for laptops that doesn't require you to load the blockchain?

The website should be available for many more languages.
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October 30, 2018, 09:59:20 AM
Last edit: October 31, 2018, 06:23:30 AM by 88998899
 #6589

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October 30, 2018, 11:36:26 AM
 #6590

Where do we stand on pegging process?
Did we finished testing mode?

Yeah all the tests went perfectly well. Yshurik is converting my code in Python to c++ to increase processing speed and I'm coding the exchange implementation which also needs to track the peg. That part is almost done in Python and then we just need to test it on anoxy's exchange which we will encourage all of the users to trade on the demo exchange which will probably just use testnet coins. If time allows we can have a little promotion for that. After the exchange implementation is tested then we have something to show all the exchanges. Then we release it into the wild.

Great news, which exchange is anoxy's?

Did you attend the london conference on the 25th David? that looks like you in the pic at the front nearest the camera?

Nope haven't attended any conferences. And anoxy is making an exchange called Bayex (no relation to BitBay the name is coincidental)
And yeah so there is where we will probably be able to test this peg. I'm finishing up the code for the exchanges.

That's all great news. Can't wait to start pushing bay out there as the number 1 stable coin in that is actually trustless and decentralised.

After the Tether debacle, interest in stablecoins has really rocketed.  When people start to notice BAY and begin to appreciate what it is all about it will wipe the floor with the competition.   Grin

FINANCECLOUD CRYPTO-HUB : by EUROPECOIN
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October 30, 2018, 06:13:39 PM
 #6591

Does the market work in the meantime?

Is there a lightwallet for laptops that doesn't require you to load the blockchain?
Does not answering these questions mean a double "no", or am I too impatient?  Smiley
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October 31, 2018, 11:49:55 AM
 #6592

The market part has just been installed. But there are no offers yet. The synchronization will probably take a few more hours.

But don't think that this market solution will make the breakthrough: A remark points out that the contents of shops or their owners can be censored. - Something that the crypto world should actually overcome.
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October 31, 2018, 03:50:17 PM
 #6593

The market part has just been installed. But there are no offers yet. The synchronization will probably take a few more hours.

But don't think that this market solution will make the breakthrough: A remark points out that the contents of shops or their owners can be censored. - Something that the crypto world should actually overcome.

How can you be sure double deposit escrow will not make a breakthrough?

If you want a private market then just make it private in the listing and it will be invisible to all but those you give the link to.

I agree that the centralised censorship should be totally removed, I don't think there should be any single point of accountability with a trustless decentralised solution i think it makes it dangerous for the persons with moderation powers.

The entire point of a DDE marketplace is really to make it 100% trustless and automated with no central points of accountability.

However it could be that flagged seriously messed up adverts can be removed via a decentralised voting process since we already have decentralised voting built into bitbay. I think they would have to be seriously illegal and undesirable to most for them to bother voting them off though. Most people are not going to bother voting off things that are grey areas or things that are not universally recognised as offensive. It would take a bit of planning.

Give David time to answer your questions. He usually answers very quickly he must currently be very busy working on something.


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October 31, 2018, 05:44:22 PM
 #6594

After five hours of synchronization just 1% finished, and offers were still not visible. Apparently the blockchain is loaded, something I don't want to do to myself.
Then I aborted the procedure and removed the program. So I cannot use it yet or recommend it to others.

I must admit that I have also lost the further interest. The awareness to become a victim of censorship is disappointing.
We do not need another ebay in the crypto area. For controlled and regulated goods, Fiat already provides unbeatable options.

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October 31, 2018, 05:50:26 PM
 #6595

After five hours of synchronization just 1% finished, and offers were still not visible. Apparently the blockchain is loaded, something I don't want to do to myself.
Then I aborted the procedure and removed the program. So I cannot use it yet or recommend it to others.

I must admit that I have also lost the further interest. The awareness to become a victim of censorship is disappointing.
We do not need another ebay in the crypto area. For controlled and regulated goods, Fiat already provides unbeatable options.



Which wallet market client or qt wallet? it should sync faster than that for five hours. what OS? and have a slow internet?

BITBAY |Smart Contracts|Decentralized Markets|Rolling Peg| https://bitbay.market/
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October 31, 2018, 06:20:17 PM
Last edit: October 31, 2018, 06:36:10 PM by Thul
 #6596

However it could be that flagged seriously messed up adverts can be removed via a decentralised voting process since we already have decentralised voting built into bitbay. I think they would have to be seriously illegal and undesirable to most for them to bother voting them off though. Most people are not going to bother voting off things that are grey areas or things that are not universally recognised as offensive. It would take a bit of planning.
"Undesirable to most people" means that a small fringe group is no longer allowed to meet their needs?
Democracy is the dictatorship of the majority over the minority?
Do we seriously want to continue the state mischief in cryptospace?

In OpenBazaar one has the possibility to block unwanted sellers and their offer. The moral superiority can therefore be given to oneself, but is not imposed on others.

Which wallet market client or qt wallet? it should sync faster than that for five hours. what OS? and have a slow internet?
Market client.
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Internet: 91.6 Mbps Download, 95.0 Mbps Upload

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October 31, 2018, 06:51:36 PM
 #6597

However it could be that flagged seriously messed up adverts can be removed via a decentralised voting process since we already have decentralised voting built into bitbay. I think they would have to be seriously illegal and undesirable to most for them to bother voting them off though. Most people are not going to bother voting off things that are grey areas or things that are not universally recognised as offensive. It would take a bit of planning.
"Undesirable to most people" means that a small fringe group is no longer allowed to meet their needs?
Democracy is the dictatorship of the majority over the minority?
Do we seriously want to continue the state mischief in cryptospace?

In OpenBazaar one has the possibility to block unwanted sellers and their offer. The moral superiority can therefore be given to oneself, but is not imposed on others.

Which wallet market client or qt wallet? it should sync faster than that for five hours. what OS? and have a slow internet?
Market client.
Linux Mint
Internet: 91.6 Mbps Download, 95.0 Mbps Upload



yeah it sucks.

David literally left for an extended leave of absence away from home the day after he released the new linux build. This was back in  mid september.
Before we had a chance to test it, he was already gone.
They updated libraries and caused the build to break.

I'm amazed you can even get the Client started.

He's been able to continue coding peg while hes gone. But he can't fix linux till he gets back home.
Hopefully that will be in a just a few days.

Sorry about the wait.


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October 31, 2018, 10:33:24 PM
 #6598

However it could be that flagged seriously messed up adverts can be removed via a decentralised voting process since we already have decentralised voting built into bitbay. I think they would have to be seriously illegal and undesirable to most for them to bother voting them off though. Most people are not going to bother voting off things that are grey areas or things that are not universally recognised as offensive. It would take a bit of planning.
"Undesirable to most people" means that a small fringe group is no longer allowed to meet their needs?
Democracy is the dictatorship of the majority over the minority?
Do we seriously want to continue the state mischief in cryptospace?

In OpenBazaar one has the possibility to block unwanted sellers and their offer. The moral superiority can therefore be given to oneself, but is not imposed on others.

Which wallet market client or qt wallet? it should sync faster than that for five hours. what OS? and have a slow internet?
Market client.
Linux Mint
Internet: 91.6 Mbps Download, 95.0 Mbps Upload



Well perhaps bay can use openbazaar's model.
However, if a small fringe for example wants to sell CP  then that small fringe should not be allowed to spoil things for the greater majority.
It's a case of getting a balanced and enjoyable user experience without any central point of moderation.
People may not want to  load up the marketplace and have to go through the process of blocking things they didn't wish to be confronted with in the first place. This could slow or damage the adoption more than over zealous moderation even.
This is just my opinion of course.

These moderation keys have been one area that has been discussed before and a few people have said it does not seem the best way to go. I think there could be a decentralised approach to sensible moderation possible for extreme instances.


This aspect is not a deal breaker for most I would suspect in light of the other significant advantages for trustless decentralised trading. I do think though that having moderator keys is something that must be phased out eventually.















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November 01, 2018, 06:19:48 AM
Last edit: November 01, 2018, 06:54:53 AM by Thul
 #6599

However, if a small fringe for example wants to sell CP  then that small fringe should not be allowed to spoil things for the greater majority.
Who wants to draw the line?
Meanwhile I know the claim of millitarian groups who want to push through their moral concepts with all their might.
Whoever makes an exception at CP is also quick at heavy weapons and contract killers. If this limit is crossed, normal armament is no longer acceptable. Drugs, even light ones, are the next victim of censorship. And then, of course, any material that shows even the beginnings of a naked female breast.

If you allow censorship, we will very soon have such conditions that we already know from the Fiat world.
The fact that this has already had to be discussed in your community shows me the tendency in which the guardians of virtue finally gain the upper hand.


Those who cannot bear free goods and services with all the, perhaps abstruse facets, should stay on ebay.

The cryptoworld will anyway be only a niche for a long time, and that's exactly how you should look at a cryptomarket: To get goods and services that are not so easy to find in the regulated Fiat world.

We are at the beginning of a fascist world order with total surveillance of each individual. Nothing is therefore more urgently needed than a truly free market through which the military industrial complex and state terrorism is not financed by taxes.
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November 01, 2018, 11:27:06 AM
 #6600

However, if a small fringe for example wants to sell CP  then that small fringe should not be allowed to spoil things for the greater majority.
Who wants to draw the line?
Meanwhile I know the claim of millitarian groups who want to push through their moral concepts with all their might.
Whoever makes an exception at CP is also quick at heavy weapons and contract killers. If this limit is crossed, normal armament is no longer acceptable. Drugs, even light ones, are the next victim of censorship. And then, of course, any material that shows even the beginnings of a naked female breast.

If you allow censorship, we will very soon have such conditions that we already know from the Fiat world.
The fact that this has already had to be discussed in your community shows me the tendency in which the guardians of virtue finally gain the upper hand.


Those who cannot bear free goods and services with all the, perhaps abstruse facets, should stay on ebay.

The cryptoworld will anyway be only a niche for a long time, and that's exactly how you should look at a cryptomarket: To get goods and services that are not so easy to find in the regulated Fiat world.

We are at the beginning of a fascist world order with total surveillance of each individual. Nothing is therefore more urgently needed than a truly free market through which the military industrial complex and state terrorism is not financed by taxes.


What are you talking about? If you knew anything about me you would know that's not how any of my products work! I've been preaching freedom from governments and coding until my fingers bleed to make this software. It's the only 2 party escrow software and was the first smart contracts before ETH. The markets have been working for almost 4 years.

First of all you say it's censored but who is this ominous censor you are talking about? The way the moderation system works is users can flag orders if it somehow goes against whats supposed to be posted in a market and it's peer to peer so there is no central decision maker who decides when to pull an offer. There is a moderation key which goes out to volunteers who want to mop up the internet. But you should realize that this task is actually almost impossible. The Bitmessage system works a lot like TOR but has advantages over it namely because it's end to end encrypted so there is no such thing as an exit node... messages simply hop around all the time and that hides the sender. This encryption at receivers end protects you because there is no way for anyone to know if you can access a market or it's orders. Private markets make it almost impossible for people to breach your privacy because they would need the decryption key. Not to mention people can do contracts over email or Bitmessage peer to peer

Now with that said, we do encourage people not to post illegal content. The risk falls on the users. This is no different from purchasing a fire arm or something where it's up to the person to use it to mitigate their own risks. The voluntary moderation key doesn't come with a set of instructions or guidelines. It's to protect us so we can keep coding unhindered. If the market was flooded with darknet stuff then I would never have been able to do my job and code this thing. That doesn't take away from the value of the tools that are supplied here. ESPECIALLY two party escrow AKA unbreakable contracts to which I challenge you to find a more perfect decentralized alternative to enforcement of agreements (you won't).

Let me also point out that these markets can't be censored or shut down. Even if I wanted to shut them down I couldn't.

If you are talking about censorship then buddy you are barking up the wrong tree. I've been the first to denounce governments and the freedoms they stole from everyone. Of course the best world is one without governments at all. Decentralized tech is meant to bridge the divide and when you start to preach that we are censoring you are blinded not realizing who is here fighting for basic human rights. We want to commercialize good business practices and technology and enlighten people to the future of free internet tech. As for governments, it's not just thought crimes they persecute... people can't sell raw milk, they can't plant a tree anywhere they want, they can't go outside naked which is their god given right (being born into the world without clothes to wear). Peoples human rights have been so hijacked modern day culture has become barbaric and unrecognizable to it's true destiny and nature. It's only accepted by the relatively silent black sheep minority because of "might makes right" and the threat of violence through law which keeps them at Bay. Once people are willing to die and fight for their beliefs, that might change. However that's not so easy considering they get everyone indoctrinated in the school system at such a young age.

Decentralization isn't just about decentralizing the internet. To truly have a decentralized internet you somehow need to get rid of the Telcom and use 3d printed devices and manufacturing. It's just a modern way of telling people to not depend on others and to "decentralize" such as community farms and gardens, off grid tech, cheap construction methods such as cob/ceb or recycled materials... etc

So anyways you uninstalled the software. A few things about this. The Linux build has not been updated in a while because I've been out of the country due to a serious injury. I'm starting to feel a little better and will be home shortly and will fix the Linux build. If it said it was 1% after a day then it probably wasn't syncing. Linux used to work fine but one of the builds had a broken package so I have to fix all of that. Regardless we have had many Linux users for the past 4 years. The markets populate on their own and there is usually always about 10 orders or so. However we are testing the dynamic peg lately so I think most users are just waiting for that.
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