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Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 541885 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.)
Blockchain Mechanic
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May 16, 2019, 05:24:31 AM
 #6861

Hi,

Just a suggestion. Please put clearly marked links to your source code. I had trouble finding it with a cursory look. Currently trying to compile and sync.
Thanks will get a direct link on the site

Hi there, is this for the Markets client or QT? Both are at my github. github.com/dzimbeck

The markets client (which contains all peg logic in Python) is also there in the Halo github with Bitmessage. It has a link to the obfuscated source code and so does our main site bitbay.market

This is for my project. :- https://bitcointalk.org/index.php?topic=5141975.0

I intend to add support for all actively used and developed coins/assets.

I see, your project looks pretty ambitious. Well if all of it is going to be open source then I can recommend how you would go about doing decentralized "servers" because we have a design for it that is pretty bullet proof. The cool thing about crypto is almost everything can be client side other than the database where data that doesn't belong on the blockchain is stored. (although it can be hashed on the blockchain at predefined intervals if you want to keep it's integrity)

Also it's probably a good idea to make everything web based(except of course your full nodes). This is something I've learned over the past 5 years of development that end users won't really appreciate what's under the hood. They just want a viable product (even when something as serious as their own security is concerned)

Extremely ambitious! but getting there. Yes, the architecture requires only integrity material and proofs be published on a blockchain. I'd appreciate your help when i need to consult. I'm prioritizing privacy and user convenience. And since a lot of ad platforms restrict advertising anything to do with crypto, I want to encourage it on my platform and allow payment in crypto only.

Equality vs Equity...
Discord :- BlockMechanic#8560
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May 16, 2019, 09:24:01 PM
 #6862

Hi,

Just a suggestion. Please put clearly marked links to your source code. I had trouble finding it with a cursory look. Currently trying to compile and sync.
Thanks will get a direct link on the site

Hi there, is this for the Markets client or QT? Both are at my github. github.com/dzimbeck

The markets client (which contains all peg logic in Python) is also there in the Halo github with Bitmessage. It has a link to the obfuscated source code and so does our main site bitbay.market

This is for my project. :- https://bitcointalk.org/index.php?topic=5141975.0

I intend to add support for all actively used and developed coins/assets.

I see, your project looks pretty ambitious. Well if all of it is going to be open source then I can recommend how you would go about doing decentralized "servers" because we have a design for it that is pretty bullet proof. The cool thing about crypto is almost everything can be client side other than the database where data that doesn't belong on the blockchain is stored. (although it can be hashed on the blockchain at predefined intervals if you want to keep it's integrity)

Also it's probably a good idea to make everything web based(except of course your full nodes). This is something I've learned over the past 5 years of development that end users won't really appreciate what's under the hood. They just want a viable product (even when something as serious as their own security is concerned)

Is your solution similar to this: https://zeronet.io/ ?

Another question now that Cryptopia went fucked is there any place where is possible to acquire some BAYs
without going trough this bullshit KYC procedure?
All listed markets on https://coinmarketcap.com/currencies/bitbay/#markets
requires KYC.

Thanks.

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May 17, 2019, 02:26:31 AM
 #6863


Another question now that Cryptopia went fucked is there any place where is possible to acquire some BAYs
without going trough this bullshit KYC procedure?
All listed markets on https://coinmarketcap.com/currencies/bitbay/#markets
requires KYC.

Thanks.


BitBay will eventually be listed on blockdx.
But I'm guessing not until after we fork for peg.

What are some decent exchanges that don't require KYC?

"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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May 17, 2019, 04:53:39 AM
Last edit: May 17, 2019, 05:08:19 AM by BitBayDoc
 #6864

@dzimbeck, cr197 & The Entire BAY Team,

Been going through ALL 25 pages of the Dynamic Peg QT Wallet Gui VERY carefully.
Let me say this - You guys and the team are AMAAAAAZING!

Wow... I'm a MD with patents around the globe and do a little programming; let me say this - The Smartest People in The World Ain't Got Nothin' On YOU!  lol
Again - it's amazing the concepts and programming you folks gotta do.
Just sayin' - Cheers

From cr197
Hey guys we are making good progress with peg documentation.

The new QT GUI guide is coming along just fine.
Still a couple more hours of work to get everything I want on it - including some "How To's"

We'll get it all formalized when we finish. But for now if you are interested in checking out the new QT GUI:

https://docs.google.com/document/d/1g25erk3zt5ZVzGYYwe74Zp1gw4nfgxJTWjMIvqzhwgs/edit?usp=sharing

...Doc says - BOOM!
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May 17, 2019, 12:38:47 PM
Last edit: May 17, 2019, 12:51:50 PM by cr197
 #6865

@dzimbeck, cr197 & The Entire BAY Team,

Been going through ALL 25 pages of the Dynamic Peg QT Wallet Gui VERY carefully.
Let me say this - You guys and the team are AMAAAAAZING!

Wow... I'm a MD with patents around the globe and do a little programming; let me say this - The Smartest People in The World Ain't Got Nothin' On YOU!  lol
Again - it's amazing the concepts and programming you folks gotta do.
Just sayin' - Cheers

From cr197
Hey guys we are making good progress with peg documentation.

The new QT GUI guide is coming along just fine.
Still a couple more hours of work to get everything I want on it - including some "How To's"

We'll get it all formalized when we finish. But for now if you are interested in checking out the new QT GUI:

https://docs.google.com/document/d/1g25erk3zt5ZVzGYYwe74Zp1gw4nfgxJTWjMIvqzhwgs/edit?usp=sharing

...Doc says - BOOM!

Thanks for the kind words. It's a lot of info, which is why we will make some "How To Quick Guides"

Most people will simply want to know:

1) How to stake for extra returns
2) How to navigate through their coin inputs efficiently so they can continue staking extra returns.


The real winners for the peg will be those who own Bay before the fork.
Because we will start the peg index at 0% reserve. So current Bay investors will be able to freeze as many of their liquid coin inputs as they want into "Voluntary Frozen Liquid"

So the initial investors will be maximizing their stake ROI. Cause once the peg kicks in, I'm sure most will agree, it's time to wipe our current price manipulator off the grid.
We might have to vote to increase peg index to 150-200 range in order to do so.

The point I'm getting at is that when that happens there will be less and less liquid coins available that can try to earn higher stake rewards. As long as initial investors never move their frozen liquid they will keep staking 40 coin inputs. But the rest of the network will have better chance of staking a max of 20 coin inputs.

It could take months before we ever see another peg index "0" value before it would allow others to finally take full advantage of that opportunity again.

I hope you liked the google spreadsheet.
Since the index is based on percentages, it literally gives us the power to wipe out any liquid coins a manipulator owns in as little as 10 days! The key is that they have to constantly sell in order to manipulate. Which is why they only take about 10 days!!
But we can manually vote as well Smiley and if he backs off his sell pressure, the majority could say, "We don't think he's done yet" and just keep deflating just to add insult to injury.

There are so many trade game possibilities with this, it is ridiculous.
Some won't even show themselves until it's trading in real time.

BAY/BTC
BAY/ALT
BAY/FIAT
BAYR/BTC
BAYR/ALT
BAYR/FIAT
BAY/BAYR

I'm excited to see how BAY/BAYR plays out. it has some very interesting possibilities for those that are in disagreement with price action. Bulls and Bears could find some very lucrative trade opportunities presented to  them.
One thing is for sure, trade bot programmers are going to make some money when their employers ask for a revised bot to trade BitBay. Cheesy



Can't wait for it to get here. Almost show time!


"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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May 17, 2019, 10:10:59 PM
Last edit: May 18, 2019, 01:25:15 AM by cr197
 #6866

I knew this would happen. It was just a matter of time before sovereign stablecoins enter the arena. Decentralized stablecoin solutions are the only way to break free from the status quo.
There's roughly 400 stablecoins in development.

Of which, about 90% of then are private, centralized, hard-pegged, fiat-backed stablecoins.
When sovereign coins become the norm. How many of these private coins will still be standing?

The road ahead is looking brighter and brighter.



https://blockpublisher.com/bank-of-france-is-on-the-verge-to-lunch-its-own-stablecoin/



"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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May 18, 2019, 01:13:52 AM
Last edit: May 19, 2019, 01:08:23 AM by BitBayDoc
 #6867

WOW! What an overview (above) cr197. Incredible...

Yes, when I saw Bay/BayR I said "Hmmmm".
GREAT Work Bay Team.

Yes, the Sovereign Stable coins themselves will be as worthless as fiat if they don't peg to a commodity like DELIVERABLE Au or Ag in the end; otherwise who would be foolish enough to trust them - you can't.

And, actually Sovereign run blockchain will be the Mark of The Beast System come to life.  Angry
Real Marketplace Decentralization, like BAY offers, is the only way to truly BE FREE!  Smiley

BAY - Trade and Sell Anything - With No Middleman, No Fees and Anonymously if you so choose.
https://bitbay.market/wall-of-features
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May 19, 2019, 01:37:14 AM
 #6868

Hi,

Just a suggestion. Please put clearly marked links to your source code. I had trouble finding it with a cursory look. Currently trying to compile and sync.
Thanks will get a direct link on the site

Hi there, is this for the Markets client or QT? Both are at my github. github.com/dzimbeck

The markets client (which contains all peg logic in Python) is also there in the Halo github with Bitmessage. It has a link to the obfuscated source code and so does our main site bitbay.market

This is for my project. :- https://bitcointalk.org/index.php?topic=5141975.0

I intend to add support for all actively used and developed coins/assets.

I see, your project looks pretty ambitious. Well if all of it is going to be open source then I can recommend how you would go about doing decentralized "servers" because we have a design for it that is pretty bullet proof. The cool thing about crypto is almost everything can be client side other than the database where data that doesn't belong on the blockchain is stored. (although it can be hashed on the blockchain at predefined intervals if you want to keep it's integrity)

Also it's probably a good idea to make everything web based(except of course your full nodes). This is something I've learned over the past 5 years of development that end users won't really appreciate what's under the hood. They just want a viable product (even when something as serious as their own security is concerned)

Is your solution similar to this: https://zeronet.io/ ?

Another question now that Cryptopia went fucked is there any place where is possible to acquire some BAYs
without going trough this bullshit KYC procedure?
All listed markets on https://coinmarketcap.com/currencies/bitbay/#markets
requires KYC.

Thanks.


Hi so one way to acquire BAY is just use our markets. There is a coins for cash template and if you let people know you want to buy they can either acquire them for you or sell direct. You can even do a custom contract. That's the advantage of P2P markets is sellers and buyers. Just remember to let our community know either here or one slack about the contract.

Also the solution for the web markets is pretty simple but I haven't seen a system like it yet. Zeronet probably doesn't let data expire or is best for serving static pages. In that case github would be fine for serving pages for free.

As for the web markets and any decentralized site, my solution has a few steps.
* All major logic is run client side in javascript. Because users should validate their own transactions and verify data and prices
* Blockchain data can be verified client side on chainz and other services as well as with nodes running the site directly
* External data can be scraped from third parties like coinmarketcap
*Nodes that run markets do so voluntarily. They share the data with a master/slave system and it is not blockchain based.
*If the master node (the node that updates the database from slaves) goes offline a new one is automatically selected
*A user connecting connects to any of the nodes or several and that's OK for trivial data. Just make sure all nodes sync with master
*All user data has an expiration date, even personal data and its ALL encrypted using their private key therefore if the master node messes
  with this data it will not be able to be decrypted! Nobody has access but the user
*Messages P2P is end to end encrypted again preventing tampering
*All requests and messages are signed with private key making SSL not as important and login much safer
*Messages with expiration date vary (from months to years depending on data type)
*Images can be stored on sites like IMGUR with a bundle of API keys used client side or anonymous pastebins
*Publicly shared data (such as offers) share a common decryption key and are signed by users making tampering almost impossible
*Master nodes that tamper with data will obviously be replaced by slaves who prove it was tampered (perhaps using master signature of hash)
*DDOS is stopped easily by traffic limits per node or progressive POW or "proof of time locked funds per KB" the more messages sent.
*Database size is contained by the fact that most data is trivial, users can back up data and hash it, nodes may also archive with hash

The above system lets anyone join without the concern of data issues or trust. It also allows anyone to serve the data with big servers.
It's possible that Zeronet, IPFS or even DPOS databases have a design close enough to the above but some of the things in the required specs are pretty specific. If this is designed by our team we can probably open source it and increase contributors to our github.
I've not had the time to research any alternatives but if they can do the above with a few modifications that saves us a lot of work.

If for whatever reason, any trust of nodes serving is involved a list can be periodically updated on github by reputation. Also stakers can potentially vote them in or out and even give them incentive by a stake donation so I don't see those things as issues for trivial data.
Contracts can at least have very important info backed up on chain by a hash or a small encryption of minimal critical data(for example a disposable key). If you really wanted to be fancy, use stenography to store data into images on 3rd party services

And thats it, I think the design itself is pretty simple... it just needs to be coded and I really dont want to have any of the above features missing (except perhaps a variation in how nodes group together or something)

Hopefully this makes sense.  Grin
cr197
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May 19, 2019, 09:53:18 PM
 #6869


Hi so one way to acquire BAY is just use our markets. There is a coins for cash template and if you let people know you want to buy they can either acquire them for you or sell direct. You can even do a custom contract. That's the advantage of P2P markets is sellers and buyers. Just remember to let our community know either here or one slack about the contract.

Also the solution for the web markets is pretty simple but I haven't seen a system like it yet. Zeronet probably doesn't let data expire or is best for serving static pages. In that case github would be fine for serving pages for free.

As for the web markets and any decentralized site, my solution has a few steps.
* All major logic is run client side in javascript. Because users should validate their own transactions and verify data and prices
* Blockchain data can be verified client side on chainz and other services as well as with nodes running the site directly
* External data can be scraped from third parties like coinmarketcap
*Nodes that run markets do so voluntarily. They share the data with a master/slave system and it is not blockchain based.
*If the master node (the node that updates the database from slaves) goes offline a new one is automatically selected
*A user connecting connects to any of the nodes or several and that's OK for trivial data. Just make sure all nodes sync with master
*All user data has an expiration date, even personal data and its ALL encrypted using their private key therefore if the master node messes
  with this data it will not be able to be decrypted! Nobody has access but the user
*Messages P2P is end to end encrypted again preventing tampering
*All requests and messages are signed with private key making SSL not as important and login much safer
*Messages with expiration date vary (from months to years depending on data type)
*Images can be stored on sites like IMGUR with a bundle of API keys used client side or anonymous pastebins
*Publicly shared data (such as offers) share a common decryption key and are signed by users making tampering almost impossible
*Master nodes that tamper with data will obviously be replaced by slaves who prove it was tampered (perhaps using master signature of hash)
*DDOS is stopped easily by traffic limits per node or progressive POW or "proof of time locked funds per KB" the more messages sent.
*Database size is contained by the fact that most data is trivial, users can back up data and hash it, nodes may also archive with hash

The above system lets anyone join without the concern of data issues or trust. It also allows anyone to serve the data with big servers.
It's possible that Zeronet, IPFS or even DPOS databases have a design close enough to the above but some of the things in the required specs are pretty specific. If this is designed by our team we can probably open source it and increase contributors to our github.
I've not had the time to research any alternatives but if they can do the above with a few modifications that saves us a lot of work.

If for whatever reason, any trust of nodes serving is involved a list can be periodically updated on github by reputation. Also stakers can potentially vote them in or out and even give them incentive by a stake donation so I don't see those things as issues for trivial data.
Contracts can at least have very important info backed up on chain by a hash or a small encryption of minimal critical data(for example a disposable key). If you really wanted to be fancy, use stenography to store data into images on 3rd party services

And thats it, I think the design itself is pretty simple... it just needs to be coded and I really dont want to have any of the above features missing (except perhaps a variation in how nodes group together or something)

Hopefully this makes sense.  Grin


It's going to make things interesting for sure.

You've got entire platforms that are gambling on creating web 3.0 on a blockchain.

And now that there are alternatives along with alternative concepts in development, it could create some competition.
I'm going to gamble on the easiest solution will be the winner. Sure ethereum has smart contracts included with it's web 3.0.
But as we are going to prove, you can add smart contracts to off-chain decentralized web networks as well.

So I can't wait to see how things fall into place.




"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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May 20, 2019, 12:21:32 AM
 #6870


It's going to make things interesting for sure.

You've got entire platforms that are gambling on creating web 3.0 on a blockchain.

And now that there are alternatives along with alternative concepts in development, it could create some competition.
I'm going to gamble on the easiest solution will be the winner. Sure ethereum has smart contracts included with it's web 3.0.
But as we are going to prove, you can add smart contracts to off-chain decentralized web networks as well.

So I can't wait to see how things fall into place.





Exactly, not everything needs to be on the chain. The data for markets or p2p networks can be handled by the users themselves. Why should a disinterested party handle someone else's messages? Nodes can run to do this anyway and be motivated because they run the network or because there is stake donations or something. Besides, large amounts of data can still be hashed/signed and notated on a blockchain as well.
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May 20, 2019, 10:50:24 PM
Last edit: May 21, 2019, 12:20:25 AM by BitBayDoc
 #6871

We have some of the smartest people on the planet here. Wow
All innovators and entrepreneurs. Exciting times.

David, you were right to build the entire ginormous back end FIRST (only 5 brutal years) - now the foundation is totally in place.
The average investor has NO IDEA what bay has to offer and can do right NOW; and will be doing in the very near future.
https://bitbay.market/wall-of-features

...Just waiting (HODL) for things to go boom!
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May 23, 2019, 10:32:21 AM
 #6872

Hi all.

After more than 4 months of trying to have BAY listed on the OEX exchange, we have had to concede to the fact that they have stolen our listing fee and will not be listing us.

We have tried many times to get an exact date of listing and each time there has been a delay with various excuses.

Knowing we have had 3 BTC stolen which could have been spent on marketing or put towards another exchange listing is very frustrating. We will look into legal options to try and recover the fees, as long as it isn’t too expensive of course.

Please feel free to share this news on social media or other chats, and let’s help to make sure no other projects are scammed into losing money from this exchange.

David Zimbeck Interview

BitBay Official Twitter: https://twitter.com/BitBayofficial
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May 23, 2019, 02:46:52 PM
 #6873

@BOoOBa - Yes, the BAY community is waiting for OEX.com to fulfill their commitment to be listed with their very important exchange.
Let's hope they are honorable and do it. I've been hearing about it for a few months now, with launch dates kept being pushed back.

I tried your project, it's viable. I wish you success because your idea is practicable.
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May 23, 2019, 10:12:27 PM
 #6874

@BOoOBa - Yes, the BAY community is waiting for OEX.com to fulfill their commitment to be listed with their very important exchange.
Let's hope they are honorable and do it. I've been hearing about it for a few months now, with launch dates kept being pushed back.

I tried your project, it's viable. I wish you success because your idea is practicable.

Thanks! We certainly hope it will finally be able to change the status quo of crypto market cycles.

While Bitcoin takes 3-4 years to complete 1 cycle. We are speculating that we could complete one in as little as 3-6 weeks



"Dishonour is like a scar on a tree, which time, instead of effacing, only helps to enlarge."
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May 23, 2019, 10:52:56 PM
 #6875

DAI is on coinbase, even in the USA. I just checked online.

This is really good news for us for multiple reasons!!

1) We are way more compliant in regards to a decentralized stablecoin protocol compared to their system.
2) There system is designed for one reason - decentralized leverage trading and lending interest earnings. And yet Coinbase is able to list them! US regulators hate margin trading.
3) MKR token isn't listed and most likely is a security. Either way, we don't have any sort of "common enterprise" token that reaps all the profits from a stability fee. Yet they still listed DAI.


This should be a good foundation to stand on once we are ready to present peg package to exchanges.
There is no way Coinbase would be able to list DAI in US if regulators were already holding them in a hot seat for a protocol they felt was against their guidelines 
https://www.financemagnates.com/cryptocurrency/exchange/coinbase-launches-dai-dai-stablecoin-on-retail-platforms

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May 25, 2019, 08:54:58 AM
Last edit: May 26, 2019, 10:33:50 AM by dzimbeck
 #6876

Hey everyone, so it's looking like we have at least 2 exchanges lined up for the peg. And there might be more who will ask for BTC. As there is really no way around this, I think it would be best if everyone from the community who has a vested interest contribute something. We will need at least 10 BTC for these exchanges however if we can raise more even better considering there are many exchanges that will probably ask similar things. I think it's personally worth it as we have waited 5 years and finally have completed this feature of the rolling peg. I think if everyone made a contribution it could leave us room to negotiate with even more exchanges. It's not my style normally to ask these things however exchanges will always charge (and sometimes they can get pretty expensive).

Of course it is up to each individual person however obviously if everything goes our way it will be worth it. I know we aren't in a bull market right now, but there is no telling when the altcoin industry will boom again and we have the only coin in the world with a decentralized dynamic supply. I'm going to post the address here. Thanks and let me know if there are any questions/suggestions/ideas.

Bitcoin address:
3P45R8RGmdLzjWgucp2X56eAexadNRrJTY
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May 26, 2019, 06:20:12 AM
 #6877

I think if everyone made a contribution it could leave us room to negotiate with even more exchanges.

3P45R8RGmdLzjWgucp2X56eAexadNRrJTY

Been following you guys for 2 years now and never even bought you a beer, so I'm happy to chip in. That's a BTC address?
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May 26, 2019, 10:33:33 AM
 #6878

I think if everyone made a contribution it could leave us room to negotiate with even more exchanges.

3P45R8RGmdLzjWgucp2X56eAexadNRrJTY

Been following you guys for 2 years now and never even bought you a beer, so I'm happy to chip in. That's a BTC address?

This is the BTC address the "3" symbolizes multisignature. And thanks by the way. Although this one won't go to beer.  Cool
The more we raise obviously the more exchanges we can get on at once.

3P45R8RGmdLzjWgucp2X56eAexadNRrJTY

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May 28, 2019, 06:27:37 PM
 #6879

Been here since the beginning...and I'm looking forward to seeing the peg in full swing,
so I've sent you guys a wee contribution. Kiss...keep up the good work.
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May 29, 2019, 07:42:57 PM
 #6880

Just finished reading this entire thread. It's crazy, everything that BitBay has been through to get to this point. David Zimbeck and the community have overcame every obstacle, weathered every storm and are now on the verge of success. It is very encouraging to see that many people have stuck with Bitbay since the ICO or shortly afterward and are still part of the community, either here or on Slack, etc. I've held BAY since 2017, but recently took a greater interest when preparing to chop down the number of coins in my portfolio. BitBay made the cut for sure, it is as solid of a project as it ever was if not more so and one of the most promising projects in crypto. I have faith in David and the team and believe that the success of Bitbay is almost a certainty consider what they have developed. I don't have much money to donate, but I'm making a small donation to the exchange listing fund. Every little bit helps...
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