Bitcoin Forum
June 17, 2024, 08:24:01 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 ... 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 [336] 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 ... 389 »
  Print  
Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 541882 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.)
freigeist
Hero Member
*****
Offline Offline

Activity: 1107
Merit: 534


View Profile
December 27, 2018, 12:33:50 PM
 #6701


You can use the calculator at https://staking.bitbay.market to work out the possibilities for earning staking rewards.

The following message appears by clicking on that link you pasted here:

Quote
Forbidden

You don't have permission to access / on this server.


BitBaydev (OP)
Member
**
Offline Offline

Activity: 155
Merit: 11

https://bitbay.market


View Profile WWW
December 27, 2018, 03:34:55 PM
 #6702


You can use the calculator at https://staking.bitbay.market to work out the possibilities for earning staking rewards.

The following message appears by clicking on that link you pasted here:

Quote
Forbidden

You don't have permission to access / on this server.



Thanks for reporting that freigeist - it's back online now after a server reboot  Wink

David Zimbeck Interview

BitBay Official Twitter: https://twitter.com/BitBayofficial
BitBayDoc
Jr. Member
*
Offline Offline

Activity: 193
Merit: 3


View Profile
December 27, 2018, 07:07:37 PM
 #6703

Disclaimer:
BitBayDoc is NOT on the development team.
I am supportive of this project through my investment and staking of this coin.
It just sounds like I am on the Development Team because I actually have something intelligent to say about the coin.

And yes, I think One Penny is a ridiculously, almost comedic, price for this coin.
I continue to buy as much of this coin as I can afford.

I believe a drastic price change will occur once 3-5% the general population starts to get their feet wet once again in the Crypto Markets.
The blood bath going on since January has scared off a major wave of crypto investors - and with good reason!
Once the world's economies begin to tank more than they already are, and hyper-inflation hits, coupled with bank holidays, Bay (with its peg) will become the safe haven it was designed to be for trade around the globe.

@ Development Team:
Please put a check mark on the November/December Roadmap next to Dynamic Peg Exchange Testing.

Thanks
shaydinblue
Jr. Member
*
Offline Offline

Activity: 48
Merit: 1


View Profile
December 29, 2018, 04:28:58 PM
 #6704

I see testing of the peg has begun. How long are we realistically talking before Bitbay with the peg working is actually live on an exchange or ideally exchanges? Are we weeks away, months, a year? Just looking for a ballpark time frame, not a solid date. Been following Bitbay for a long time, looking forward to the future...
freigeist
Hero Member
*****
Offline Offline

Activity: 1107
Merit: 534


View Profile
December 29, 2018, 06:18:45 PM
 #6705


Regarding the PEG there some others interesting projects
that went live and that failed to went live.

Live:
https://www.havven.io
https://makerdao.com/dai

Failed due regulation:
https://insidebitcoins.com/news/top-funded-stablecoin-basis-shuts-down-due-to-sec-regulatory-constraints/201825

https://www.basis.io/faq  (interesting read about economics)

How would  Bitbay PEG compare to those?

tradersnow
Jr. Member
*
Offline Offline

Activity: 90
Merit: 3


View Profile
December 30, 2018, 01:48:34 AM
Last edit: December 30, 2018, 02:57:38 AM by tradersnow
 #6706


Regarding the PEG there some others interesting projects
that went live and that failed to went live.

Live:
https://www.havven.io
https://makerdao.com/dai

Failed due regulation:
https://insidebitcoins.com/news/top-funded-stablecoin-basis-shuts-down-due-to-sec-regulatory-constraints/201825

https://www.basis.io/faq  (interesting read about economics)

How would  Bitbay PEG compare to those?


Havven is crypto-collateralized, exposing its coin to risk of the underlying assets' volatility.
Maker's stablecoin is currently dependent upon the both integrity and volatility of Ethereum. (although they might have the option of changing that down the road)

BitBay's Dynamic Peg is non-collateralized and decentralized, making it impossible to regulate and not subject to the volatility of another asset. Its supply liquidity is controlled in a secure and democratic way, so there is zero counter-party risk. It is designed to be extremely elastic and black-swan resistant.  

Smiley
dzimbeck
Legendary
*
Offline Offline

Activity: 2412
Merit: 1044


View Profile
December 30, 2018, 06:43:42 AM
 #6707

There was no regulation that effected Basis in my opinion. It seemed like an excuse or an exit strategy. They got paid to have an idea and I'm guessing the refund wasn't worth it to investors.

Yeah as mentioned above, the system created in Bitbay is purely automated. Unlike other proposals, the freezing of coins is involuntary and therefore doesn't require incentives to maintain that would inflate the system or unfairly dilute or enrich users. Because the supply is dynamic, it can be experimented with. Users can choose to back the coin or not, to choose a fixed price or a moving peg price. Also because of all of this it's not volatile to regulation or loss of banking relationships because it's purely based on programming and not actions from anyone in the outside world.
raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 01, 2019, 06:08:44 PM
 #6708

How is WebHalo coming along?
tradersnow
Jr. Member
*
Offline Offline

Activity: 90
Merit: 3


View Profile
January 01, 2019, 07:37:46 PM
 #6709

How is WebHalo coming along?

It is coming along great. The dev team is currently working on integrating DDE into the Web Marketplace, which will be yet another huge milestone for BitBay.
Once released, it will be the first web-based decentralized marketplace in existence, and will be accessible to everyone on any device.

You can read more about it here, in BitBay's most recent blog post:
https://medium.com/@bitbay/bitbay-in-2018-our-strongest-year-yet-34f2be94dab9
raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 01, 2019, 09:16:11 PM
 #6710

How is WebHalo coming along?

The dev team is currently working on integrating DDE into the Web Marketplace


I thought (no expert here) that DDE is MS specific. How can DDE help Linux or iOS?

This is just nerd speak, no criticisms from me on an area I know absolutely nothing about.

I took a look at BitHalo. It's all in Py2.7. I would have broken it into separate client and server directories on the same box with something generic like pipes or semaphores for message passing.
After the whole thing was working on the same box I would have rewritten the client Py2.7 to Py3.7.
After the Py3.7 was working under Qt, I would have made raw DOM calls.
Then I would have passed it through Transcrypt to generate JS.

The client side could have stayed Py2.7 but with a speed-up like Cython or pypy.

Repeat, I don't know squat about what you're doing, just curious.

Thanks for your time.
tradersnow
Jr. Member
*
Offline Offline

Activity: 90
Merit: 3


View Profile
January 02, 2019, 04:21:59 AM
 #6711

How is WebHalo coming along?

The dev team is currently working on integrating DDE into the Web Marketplace


I thought (no expert here) that DDE is MS specific. How can DDE help Linux or iOS?

This is just nerd speak, no criticisms from me on an area I know absolutely nothing about.

I took a look at BitHalo. It's all in Py2.7. I would have broken it into separate client and server directories on the same box with something generic like pipes or semaphores for message passing.
After the whole thing was working on the same box I would have rewritten the client Py2.7 to Py3.7.
After the Py3.7 was working under Qt, I would have made raw DOM calls.
Then I would have passed it through Transcrypt to generate JS.

The client side could have stayed Py2.7 but with a speed-up like Cython or pypy.

Repeat, I don't know squat about what you're doing, just curious.

Thanks for your time.

Apologies for the confusion.
BitBay's Double Deposit Escrow (DDE) is an entirely different animal than MS Dynamic Data Exchange, which I assume you're referring to?

The Double Deposit Escrow used in BitBay's smart contracts is a process where both the buyer and seller can secure their deal without any third party involvement. It runs through the client (and soon the beta Web Marketplace), on Win, OSX, and Linux.

You can read more about BitBay's DDE here:
https://bitbay.market/blog/double-deposit-escrow
https://bitbay.market/double-deposit-escrow

As for BitHalo's (now BitBay) code methodology, might have to wait on David or one of the devs to respond to that one, as that's beyond my scope of knowledge.  Smiley

raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 02, 2019, 12:51:23 PM
 #6712

Much obliged.
dzimbeck
Legendary
*
Offline Offline

Activity: 2412
Merit: 1044


View Profile
January 03, 2019, 08:15:41 AM
 #6713

Much obliged.

BitHalo has no server. Neither does Bitbay. The software is decentralized P2P run on top of Bitmessage. The contracts are double deposit escrow so nothing is
hosted and it's not possible to defraud the counter-party. The code is Python 2.7 and I didn't upgrade to Python 3 but that would be possible to do. It wasn't
necessary. It does work on Linux and Mac. There is something with Linux that seems to be an update or something that doesn't work with Pyelliptic so maybe that package should be updated with the newer version of Bitmessage.
raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 04, 2019, 12:39:02 AM
 #6714

Thank you for getting back so fast, I know how busy you are. My motivation for the post was your interview with Leah Zitter when she asked, "What do you want BitBay to accomplish this coming year?" You replied, "and best case scenario get some coders to work on a web based version of Halo. But the web version may not happen if the project doesn't become self-regulating. I want to focus on realistic short term goals."

This led me to believe you were dealing with limited coding resources. I was thinking there might be a fast, simple way to get the web version out. I just took a look on BitBay's site and saw you already have a full-stack JS coder (Slava) as well as several other coders, so it seems you have the bandwidth to do a complete re-write. Good on you.

The packages you mentioned (Linux and Mac) are stand-alone desktop apps. I was focusing on the web version. I was thinking WebHalo was going to be server-hosted site with the server handling all storage and socket I/O. That's why I used the terms client and server.

Now it appears you will be using a (Chrome at first?) extension to be the UI for the desktop apps. Right? The extension has full r/w access to all system storage and socket I/O. So the WebHalo extension will be able to create UDP/TCP sockets with arbitrary addresses. In fact, it will share fully equivalent functionality with the desktop apps without connecting to any host. Right?

The BitHalo is in Py2. If you were strapped for resources, you could use Transcrypt to transpile the Py to JS. Transcrypt requires Py3 as input. But then you would still have to handle the PyQt calls in some manner. But none of this is necessary since you have already coded it from scratch.

What did you mean when you said "self-regulating"? Kind of like an open source project that requires minimum input by the main author?

Bitmessage has not had a full-blown security audit. Do you view that as a concern? Do you think Loki is worth looking into?

I'm trying to get up to speed technically, but as in many other projects extensive documentation is the last step.

Disclaimer: All too often "piece of cake" transpiles to "kiss of death".

dzimbeck
Legendary
*
Offline Offline

Activity: 2412
Merit: 1044


View Profile
January 05, 2019, 02:55:52 AM
 #6715

Thank you for getting back so fast, I know how busy you are. My motivation for the post was your interview with Leah Zitter when she asked, "What do you want BitBay to accomplish this coming year?" You replied, "and best case scenario get some coders to work on a web based version of Halo. But the web version may not happen if the project doesn't become self-regulating. I want to focus on realistic short term goals."

This led me to believe you were dealing with limited coding resources. I was thinking there might be a fast, simple way to get the web version out. I just took a look on BitBay's site and saw you already have a full-stack JS coder (Slava) as well as several other coders, so it seems you have the bandwidth to do a complete re-write. Good on you.

The packages you mentioned (Linux and Mac) are stand-alone desktop apps. I was focusing on the web version. I was thinking WebHalo was going to be server-hosted site with the server handling all storage and socket I/O. That's why I used the terms client and server.

Now it appears you will be using a (Chrome at first?) extension to be the UI for the desktop apps. Right? The extension has full r/w access to all system storage and socket I/O. So the WebHalo extension will be able to create UDP/TCP sockets with arbitrary addresses. In fact, it will share fully equivalent functionality with the desktop apps without connecting to any host. Right?

The BitHalo is in Py2. If you were strapped for resources, you could use Transcrypt to transpile the Py to JS. Transcrypt requires Py3 as input. But then you would still have to handle the PyQt calls in some manner. But none of this is necessary since you have already coded it from scratch.

What did you mean when you said "self-regulating"? Kind of like an open source project that requires minimum input by the main author?

Bitmessage has not had a full-blown security audit. Do you view that as a concern? Do you think Loki is worth looking into?

I'm trying to get up to speed technically, but as in many other projects extensive documentation is the last step.

Disclaimer: All too often "piece of cake" transpiles to "kiss of death".



Ahh that interview. That's nice to hear you read it, that was a fun one. What I mean by self-regulating is fully decentralized. Basically the code I wrote was meant to be P2P and not modular. So to convert all of the code to JS even with a tool wouldn't work for web. Basically the Bitmessage network, the business logic and other things would prevent that from working. Bitmessage isn't very phone friendly. The team of coders has so far done a partial refactor of Halo code, they converted my Python peg logic to c++ and launched testnet, they started to code a demo of the markets with double deposit escrow. We do work on a tight budget with the bear market and all though so it's unclear if we will get the web/phone market where I envisioned it by spring or summer.

The model they set up is server based and that can not be used as a working product, only a demo. The downloadable software is already fully functional. The method I want and proposed for web is like this:

Markets go direct to IP routed from main site, peers form a master/slave group
Peers run "servers" voluntarily like docker nodes and receive signed/encrypted data from front end
Thus, the server cannot delete info before it's header expiry (no data is permanent but much is persistent)
If server breaks rules(deleting singed/encrypted data or making it illegible), the other peers replace by consensus with electing new master in list
Thus ALL web logic is client side. Clients may even check txid values on sites like chainz and our own nodes to ensure it's all correct

The current model is not that, it's just where all data goes to servers that don't process any client stuff but do centralize the market data.

The BitBay/Halo software is fully decentralized from the contracts, double deposit, bitmessage, no servers, etc. So the goal is to get the web markets to do
that. Peers must host data, that's the only proper way to shift liability away from third parties and secure users.

I don't think they use chrome extensions, just standard crypto JS libraries.

The system I want to build for WebHalo will be compatible with Desktop app because nodes will read Bitmessage for main markets and post on web (relay)
and then to communicate back both Halo and Web will know they must deal with the Web logic. Bitmessage then would only be for posting to desktop only.

Bitmessage has shown itself to be very secure. Although I've not audited all the code, the main concepts are solid. Peers encrypt and only decrypt what they
hold a key for. Channels are shared keys. Messages bounce from group to group hiding sender. Even if a sender could be correlated assuming a person
had many, many nodes it's still hard to say they are involved in enough groups to know that node is the original sender.

More importantly, encrypted messages which are channels gives plausible deniability that you can just say you aren't able to read the traffic even if you
forward it. It's very strong. Unlike TOR when it accesses unencrypted pages which means entry and exit nodes are more volatile, Bitmessage is encrypted end to end meaning no clearnet traffic is found by ISP. It's not perfect, but I think it's the best we have out there. Plus there is NO SERVERS! This is so superior to hosting an onion site in my opinion which in theory might eventually be uncovered by an ISP.

Lack of servers is the end goal to serving censorship resistant, peer to peer data. I feel Bitmessage is headed in the right direction despite the bulky POW which
can be replaced anyways with other methods such as proof you time locked funds.

We have a lot of help boxes in the code, there is some sparse documentation which is somewhat old it would be nice for someone with the technical expertise
to document all the software and code but I'm pretty much focused on looking forward for now.

I take it you are a coder or something?
freigeist
Hero Member
*****
Offline Offline

Activity: 1107
Merit: 534


View Profile
January 05, 2019, 01:35:38 PM
 #6716


Lack of servers is the end goal to serving censorship resistant, peer to peer data. I feel Bitmessage is headed in the right direction despite the bulky POW which
can be replaced anyways with other methods such as proof you time locked funds.


I guess Bitmessage POW is in place to prevent sybil attacks or not?
How would that other method "proof of time locked funds" work?
How would that prevent a whale to attack the network?

dzimbeck
Legendary
*
Offline Offline

Activity: 2412
Merit: 1044


View Profile
January 06, 2019, 02:27:37 AM
 #6717


Lack of servers is the end goal to serving censorship resistant, peer to peer data. I feel Bitmessage is headed in the right direction despite the bulky POW which
can be replaced anyways with other methods such as proof you time locked funds.


I guess Bitmessage POW is in place to prevent sybil attacks or not?
How would that other method "proof of time locked funds" work?
How would that prevent a whale to attack the network?


Yes exactly POW prevents DDOS but the problem is it needs to be easy enough for consumer grade computers and hard enough for strong computers.
So it doesn't really stop an attack it just makes it a bit more cumbersome.

One solution I've had for years (although you can argue it does sacrifice a little bit of anonymity) is to require a user to tie up funds for X time.
This solution is simple and because you can charge X coins per kilobyte. Since the funds are only tied up for a few blocks it's a good way to say
"sending a message will cost you a couple dollars but you get it back in a few minutes". You are right in thinking a whale can attack this as they
don't lose money, they just tie it up. But perhaps you can keep increasing cost or lock time for related addresses. They can get around that too
by having a lot of addresses. I would say for now there is no perfect solution but it's a solution that allows for Bitmessage to be faster because POW
can take up to 10 minutes on slow computers sometimes.

The only issue with it is it creates a mild barrier to entry (user would need funds or have to fall back on POW) so I haven't really bothered to code it. Also other nodes in Bitmessage won't acknowledge the messages and for user security I prefer to be part of the larger network with more nodes.

I guess as long as POW serves as a deterrent (most people won't attack a network unless there is profit involved) then it's good to protect Bitmessage for now until we see someone even attempt it. And besides, Halo has backup messaging options so a prepared user won't be too affected.

I still also really like using Bitmessage to make accounts anonymous by having someone else broadcast (getting rid of the IP address issue altogether). It's still unclear if having control of a lot of nodes can help someone guess who is sending a message.
raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 06, 2019, 04:15:46 AM
 #6718

Is there a better venue for this discussion such as Slack or Telegram?
raisinbran
Jr. Member
*
Offline Offline

Activity: 64
Merit: 2


View Profile
January 06, 2019, 04:25:56 AM
 #6719

I take it you are a coder or something?

I'm currently in 12-step rehab for recovering nerds.
dzimbeck
Legendary
*
Offline Offline

Activity: 2412
Merit: 1044


View Profile
January 06, 2019, 05:37:07 AM
 #6720

Is there a better venue for this discussion such as Slack or Telegram?

Well there is a Slack and Telegram. I'm usually on Slack. You can visit our site at bitbay.market and request an invite there or here.
Pages: « 1 ... 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 [336] 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 ... 389 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!