BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[BitBayDoc]

How do I get my coins 100% liquid for the fork tomorrow? Do nothing? How do I freeze coins in the client? Do it in batches? How?

Repost from BitBayDev (This is very important, I don't want anyone to miss it!):

As some of you already know, BitBay will be hard-forking very soon, in preparation for the release of the Dynamic Peg! If you use the Qt wallet or markets client to store your BAY, you must update to the latest version by downloading from:

https://bitbay.market/downloads

For any support with the update, please feel free to ask.

THIS IS A MANDATORY UPDATE!

(Web wallet users, your coins will be safe during the fork but please consider using the Qt wallet to help support the BitBay network.)
Posted on: January 14, 2020, 12:55:18 AMPosted by: dzimbeck

[raisinbran]

Thanks a bunch everybody. I will apply the Universal Solution: chill.

[dzimbeck]

I'm using the latest market client (2.0). What is the difference between "Actual Balance" and "Available Balance"?

Actual balance is how many coins you have. Available balance is how many coins you can spend at that specific moment.

Things that effect your available balance:
*Coins may be reserved for contracts, so the software sets it aside
*Some coins may be set in reserve due to the peg
*Coins may be frozen due to the peg
*You might have coins coming in on a stake or on a spent transaction

For example, if you were doing a contract the software will want to set those coins aside so you don't use them for something else. This way, when a valid
offer comes the software can automatically accept it. There are many different scenarios when the software can't or doesn't want to spend certain coins.

Check the history tab and on the left hand side panel it should show you if you are staking coins, if you had pending contracts, or whatever the reason is for the discrepancy. It's possible you loaded the wallet unlocked, it found a stake, spent it and is waiting for it to confirm. A stake can take an hour or so to confirm.

Also in response to time of fork it's very possible it will be within 24-48 hours. That was our target and I think we can fork at close to 65% of the network over. Since all of our major stakers are on the right chain.

[DIGITAL-DEMON]

Roughly when will block 2459000 be reached?

[R-J-F]

Roughly when will block 2459000 be reached?

It's happening now, in the next few hours or so. Almost at Block 2459000! Epic moment!

[BitBayDoc]

Roughly when will block 2459000 be reached?

It's happening now, in the next few hours or so. Almost at Block 2459000! Epic moment!

EPIC, Epic moment! You got that right!!!
By my estimations at a hash rate of 1.067min, we should hit 2459000 approx. 0635 PST USA.

Thank You and Congratulations to D. Zim and The BAY Team!
THEY NEVER QUIT!!!
Everyone who still owns Bay... YOU never quit!  
God Bless. Congratulations to us all.
"BE FREE" - D. Zimbeck

[DIGITAL-DEMON]

Roughly when will block 2459000 be reached?

It's happening now, in the next few hours or so. Almost at Block 2459000! Epic moment!

EPIC, Epic moment! You got that right!!!
By my estimations at a hash rate of 1.067min, we should hit 2459000 approx. 0635 PST USA.

Thank You and Congratulations to D. Zim and The BAY Team!
THEY NEVER QUIT!!!
Everyone who still owns Bay... YOU never quit!  
God Bless. Congratulations to us all.
"BE FREE" - D. Zimbeck

I would just like to add my congratulations to Mr Zimbeck and his team.  Awesome job guys!  Not long to go now.  I genuinely feel this is history in the making, a whole new chapter in the unfolding story of crypto evolution. 

[DIGITAL-DEMON]

Only 5 blocks remaining.

Ignition sequence starts...………..

[DIGITAL-DEMON]

Houston, this is Tranquillity Base.

The Eagle has landed!!

[BitBayDoc]

Houston, this is Tranquillity Base.

The Eagle has landed!!

Boom!  And this time it's real!!! LOL
...Truly a historic moment.
Congratulations BAY Team.

[dzimbeck]

Thanks, congrats everyone.

Also to the question about freezing, Halo batch freezes for you in advanced sending. I tested it however I'm missing an API command (listfrozen) I didn't realize Yshurik split those up so the frozen balance won't show until the next update which should be in a week. Of course you can still voluntarily freeze in Halo now. We may drop supply temporarily just to test all the features but before Latoken launch there is a good chance the community will raise it to zero so the crypto world gets to see it gradually progress forward. This is up for discussion.

My thoughts were, if coins are frozen too fast then the true liquid supply may be underestimated to cause a pump over the starting floor of 20 cents or overestimated and then coins may be sold at too high of a supply burning newcomers. However if we just let the peg do its "thing" supply and demand will gradually adjust in parity with volume and liquidity. At least that's my thoughts but I think we are a guinea pig for a very new system so there may not be any way to know what the liquid supply will be until some trading happens. It's anyones guess as to if liquid supply at 20 cents is only a few million dollars or even less or more. I wouldn't be surprised if it was slightly lower than current numbers because it would match the true liquidity and volume starting out. And there is nothing wrong with that because other communities quickly see our proven stability.

But maybe it doesn't matter either way. After all, this system is designed to be protected against speculation and manipulation. The algorithm that most people will vote with doesn't "think" it just adjusts supply to match the floor. Also as a community we might want to tweak that after we see the results. I would think that in most cases the community will do what makes the most sense for their positions. Voluntary freezing for higher stake maybe also has a cursory effect.

[CRYPTONAIRE]

Thanks, congrats everyone.

Also to the question about freezing, Halo batch freezes for you in advanced sending. I tested it however I'm missing an API command (listfrozen) I didn't realize Yshurik split those up so the frozen balance won't show until the next update which should be in a week. Of course you can still voluntarily freeze in Halo now. We may drop supply temporarily just to test all the features but before Latoken launch there is a good chance the community will raise it to zero so the crypto world gets to see it gradually progress forward. This is up for discussion.

May I ask, what is this "next update"?  Is there anything we need to do in preparation for it?

Also, the staking appears to be behaving oddly again.  Payouts, which were for 19.99994446, have now dropped to 4.99994446.  And they are VERY infrequent.

My wife has 1.3 million BAY. She has received three of these payments into her wallet since the fork activated.  I have over 20 million coins in my wallet, but I have received zero payments.

Any thoughts?

[whale_shark]

You have 20m 😱 wow owning 2% of a currency is crazy

Also where are people looking to see what they are receiving for stacking? I can’t see anywhere

[CRYPTONAIRE]

You have 20m 😱 wow owning 2% of a currency is crazy

Also where are people looking to see what they are receiving for stacking? I can’t see anywhere

Then there must be a lot of crazy crypto types around, because several people own more BAY than me, and lotsa people have bigger %'es of other coins, as do I.

Taken a long time to get here tho'.

As for staking, coins received are obviously visible in the Recent Transactions panel in the QT wallet. You can also see your stake earnings on chainz.cryptoid.info. 

[CRYPTONAIRE]

I have updated the QT; this went quite smoothly, as hoped.  I am also staking, but the results appear to be a bit odd.   Before update, I was staking a few dozen times/day, gaining 20 coins each time, as expected.  I am now gaining 18 coins each time, every other minute.  So something must be wrong, surely?

Okay so two things... the 18 coins instead of 20.
This is because there is a donation address. You can opt out of it(just look at staking tab). Users had been requesting it for years to help development (I personally was indifferent because I didn't feel like it helped to put sell pressure on the orderbook even if it was for development). Either way, every user can choose to opt in or opt out to contributing a small amount of the stake reward to development. In absolutely no way is it required (as that would not be decentralized). It goes to the foundation address which is managed by Craig, Bjorn, Shorn, etc. Also this feature is only in the QT and not in Halo wallet. Halo already had a donation option but it was not automatically applied to anyone or anything.

The second thing is, you must be on a fork. Unfortunately, if you are getting blocks every minute somehow you ended up on a fork. I would say we need more stakers. You will unfortunately have to resynchronize (of course back everything up). Might take you a few days. You can confirm that you are on a fork since your latest block hash won't match chainz and your block number won't match them either. To avoid in the future try updating your list of nodes and add some from chainz.

Thanks for the informative and helpful response David.  Re nodes; where do I insert them into the BAY blockchain directory?  There does not appear to be a .conf file?

The QT does not come with a config file, you have to make one. And it is in the standard data directory in roaming. The markets client however does and for that just edit it.

What editing does the markets client .conf require?

server=1
rpcuser=bitbayrpc
rpcpassword=77628bff0a7df3e04d545cd8c487140fabba84415c6fbdfbd7c5e590e0fa52cf
rpcport=19915
addnode=195.181.242.206
addnode=151.236.221.10
addnode=108.61.163.182
addnode=45.79.94.206
addnode=139.162.226.144
addnode=172.104.25.65
addnode=172.104.248.46
etc
etc

[BitBayDoc]

You have 20m 😱 wow owning 2% of a currency is crazy

Also where are people looking to see what they are receiving for stacking? I can’t see anywhere

BTW - I'm just answering this question. I have alot; but not 20... just sayin'.

1. Go to Coin Market Cap https://coinmarketcap.com/.
2. Go to BitBay.
3. Click on the Explorer link - not Explorer 2.
4. Click on Rich List - Find your address, click on it.
5. That will take you to a "Details of Address" page.
6. At the bottom of the 1st block of Details on this page you will see "Staked".
    There you go!

[BitBayDoc]

Thanks, congrats everyone.

Also to the question about freezing, Halo batch freezes for you in advanced sending. I tested it however I'm missing an API command (listfrozen) I didn't realize Yshurik split those up so the frozen balance won't show until the next update which should be in a week. Of course you can still voluntarily freeze in Halo now. We may drop supply temporarily just to test all the features but before Latoken launch there is a good chance the community will raise it to zero so the crypto world gets to see it gradually progress forward. This is up for discussion.

May I ask, what is this "next update"?  Is there anything we need to do in preparation for it?

Also, the staking appears to be behaving oddly again.  Payouts, which were for 19.99994446, have now dropped to 4.99994446.  And they are VERY infrequent.

My wife has 1.3 million BAY. She has received three of these payments into her wallet since the fork activated.  I have over 20 million coins in my wallet, but I have received zero payments.

Any thoughts?

1. Good question about the "next update in a week" per D.Zim.
We will probably just have to do a regular update like at any other time. I am sure David will let us know when to do that.
Keep checking this thread for updates.

2. The staking issue is interesting... I am getting 4.99994446 BAY now also.
I see it all started at EXACTLY 16:00 1-22-20 per Chains.Crypto.info... Which would have been 9:00pm PST 1-22-20; prior to that - 19.99994446.

Thanks for the heads up! I'll ask David to please comment.  

[CRYPTONAIRE]

@BitBayDoc

Thanks a million for keeping a weather eye on this thread and for trying to answer everyone's queries.

It really is greatly appreciated. 

[BitBayDoc]

@BitBayDoc

Thanks a million for keeping a weather eye on this thread and for trying to answer everyone's queries.

It really is greatly appreciated.  

It's my pleasure - just trying to be a positive voice for a positive and historic endeavor.

I spoke to D. Zim., he is traveling now so I will do my best to convey a few answers:

1. A small fix needs to be applied so coins that may not be showing up when frozen or reserved, which are actually still there, will show up.
This will be done in a week or so - after that, he will post an update, like any other update, we upload it, and that issue will be fixed.
All coins will then be there that may not be showing up; but can be seen on crypto chainz. Again, all coins are there and safe.

Me personally, I am not freezing or reserving anything until after the before mentioned update; but I will be freezing or reserving a large part (if not all) of my stack before we launch on an exchange - for the highest staking or "interest" returned.  Thank God I don't need the money and this is a long time investment for my retirement anyway. Which leads to the next question:

2. Now that we are in the peg format, what we received when staking prior to this, has changed depending on what we are doing with our coin.
Different rates of staking returns now depend on whether the majority of your coins are Liquid (5 Bays returned); majority Reserved (10 Bays returned); 1 month Freeze or "Reserve Freeze" which can also be Liquid (20 Bays returned); or 4 month Freeze of Liquid only (40 Bay returned).

I have asked David to write up a reference sheet explaining all of this more in depth and posting it, as in the beginning it may sound confusing.

The bottom line for me is to always be fairly conservative at this point. I know if I start freezing or reserving Bay now, it may not show up where expected until after the update in a week or two, but it is still there. So for me, I want to stay calm and don't mind only getting 5 Bay for a week or two until after the update, when I will then pretty much put everything in a frozen or reserved status - and then get 40 Bay, for my staking efforts and supporting the network moving forward.

I hope this helps.

[ExEric3]

Updated QT wallet to v3 and it stuck on block 2459220, 38 hours ago. Synced from scratch. How fix it?