BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg

[ExEric3]

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

This may happen as not 100% nodes were updated before hard fork.
So you unluckily stuck into abandoned chain looks like.
Simplest and quick way:

1. stop qt wallet
2. backup wallet.dat somewere
3. remove all files in datafolder except wallet.dat
4. place bootstrap.dat in datafolder
5. start qt wallet

bootstrap file is updated up to Jan 23 - bypassing fork point, so you should be safe after resync.
it may take 2-3 hours to load from bootstrap which is much faster then ordinary resync.

Usually new exchanges dont want use bootstrap file and want sync from scratch like me. But got same errors like @marecek666 had.

[BitBayDoc]

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

This may happen as not 100% nodes were updated before hard fork.
So you unluckily stuck into abandoned chain looks like.
Simplest and quick way:

1. stop qt wallet
2. backup wallet.dat somewere
3. remove all files in datafolder except wallet.dat
4. place bootstrap.dat in datafolder
5. start qt wallet

bootstrap file is updated up to Jan 23 - bypassing fork point, so you should be safe after resync.
it may take 2-3 hours to load from bootstrap which is much faster then ordinary resync.

Usually new exchanges dont want use bootstrap file and want sync from scratch like me. But got same errors like @marecek666 had.

We are not using "new" exchanges at this point; when we are ready for them the bootstrap file won't be an issue.

You and @marecek666 seem to be the only ones who are having problems. It's really not that hard.
If you are having so many orphans (like no one else is...), the best thing to do is Resync. Easy.
Everything is running smoothly and was easy to update on my end - and with now at least 75% of coin Stakers.

[marecek666]

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

This may happen as not 100% nodes were updated before hard fork.
So you unluckily stuck into abandoned chain looks like.
Simplest and quick way:

1. stop qt wallet
2. backup wallet.dat somewere
3. remove all files in datafolder except wallet.dat
4. place bootstrap.dat in datafolder
5. start qt wallet

bootstrap file is updated up to Jan 23 - bypassing fork point, so you should be safe after resync.
it may take 2-3 hours to load from bootstrap which is much faster then ordinary resync.

Usually new exchanges dont want use bootstrap file and want sync from scratch like me. But got same errors like @marecek666 had.

We are not using "new" exchanges at this point; when we are ready for them the bootstrap file won't be an issue.

You and @marecek666 seem to be the only ones who are having problems. It's really not that hard.
If you are having so many orphans (like no one else is...), the best thing to do is Resync. Easy.
Everything is running smoothly and was easy to update on my end - and with now at least 75% of coin Stakers.

very simple ... but ordinary resync is not smooth and stuck at random blocks. Wallet is not able to continue and takes everything as an orphan. It is able to accept next blocks for several minutes after the restart.
But I finally got it fully synced after many restarts of the wallet (I did not know about the link for bootstrap). It is synced and staking for now.
anyway thanks for your input  

[88998899]

Hello! What reliable cloud storage for wallet (wallet.dat) is better to use? Thank you!

[dzimbeck]

@dzimbeck thanks for the reaction, I run QT wallet. Tried to add nodes which are running this latest wallet (from this explorer: https://chainz.cryptoid.info/bay/#!network) , but still the same. Some progress and hours of nothing after that. Never mind, I will sync it somehow, there is about 1/3 of the chain to download left. I have to close/open wallet again and again. Bootstrap could be fine, but there is no official download link and taking the one from somebody on the Internet is not the best solution.

You have to be patient, it takes 10 days to sync the chain at least without bootstrap.

[dzimbeck]

Right now BAY earns about 2.2% annually if continuously staked. Does 2.2% correspond to the 5 BAY rewards earned by Liquid BAY? So would the 40 BAY rewards for Frozen Liquid BAY correspond to 8 * 2.2% = 17.6% ?

Actually that's the thing. The maximum inflation of the economy is 2% but that assumes everyone who stakes does voluntary freeze for the bonus. So in truth the real number is unknown. It is anywhere from .25-2% per year (5-40 coins per block)

[dzimbeck]

Hello! What reliable cloud storage for wallet (wallet.dat) is better to use? Thank you!

I don't personally recommend cloud storage but you can just as well encrypt it with a password in Winrar and email it to yourself. Also it's good to store on a flash drive. Just always remember to not lose passwords.

[88998899]

Thanks David for the answer! But I have another question: can a wallet.dat wallet file with a good password be cracked if my wallet.dat accidentally falls into the wrong hands? Thanks!

[dzimbeck]

Thanks David for the answer! But I have another question: can a wallet.dat wallet file with a good password be cracked if my wallet.dat accidentally falls into the wrong hands? Thanks!

If the password is good then I don't think so. Every time a character is added to a password it's complexity increases exponentially. So not even a "quantum" computer could solve a long enough password. On the other hand, you want to be realistic and be able to remember your password. Or else you will find backing up a password in one place and keys in the other. If a wallet file is password protected and you forget or lose that password you also would lose access to your account so consider all of that when backing up.

[88998899]

Thanks for the full answer! I only remember one password from the password manager.

[CRYPTONAIRE]

Any news about the latest update that was supposed to happen last week?

[dzimbeck]

Any news about the latest update that was supposed to happen last week?

I have updated the client, even yesterday I posted an updated version. If that's what you were referring to? As for Latoken we are testing the main net.

[CRYPTONAIRE]

Any news about the latest update that was supposed to happen last week?

I have updated the client, even yesterday I posted an updated version. If that's what you were referring to? As for Latoken we are testing the main net.

I was referring to the update you said was going to fix a little error re reporting of frozen/reserved coins.  Did you post that yesterday?  I didn't see it announced anywhere.

[dzimbeck]

Any news about the latest update that was supposed to happen last week?

I have updated the client, even yesterday I posted an updated version. If that's what you were referring to? As for Latoken we are testing the main net.

I was referring to the update you said was going to fix a little error re reporting of frozen/reserved coins.  Did you post that yesterday?  I didn't see it announced anywhere.

Oh I guess we forgot to report back to Bitcointalk. That has been out for I think over a week. So sure please update the client from bitbay.market

Your frozen balance will definitely show. And also we have raised the supply to 100% so anyone who wants to freeze voluntarily to get the stake reward bonus can do so. If using Halo just remember to break for change if you have any large inputs over 100k.

[BitBayDoc]

Any news about the latest update that was supposed to happen last week?

I have updated the client, even yesterday I posted an updated version. If that's what you were referring to? As for Latoken we are testing the main net.

I was referring to the update you said was going to fix a little error re reporting of frozen/reserved coins.  Did you post that yesterday?  I didn't see it announced anywhere.

Oh I guess we forgot to report back to Bitcointalk. That has been out for I think over a week. So sure please update the client from bitbay.market

Your frozen balance will definitely show. And also we have raised the supply to 100% so anyone who wants to freeze voluntarily to get the stake reward bonus can do so. If using Halo just remember to break for change if you have any large inputs over 100k.

@Cryptonaire - I didn't see the fix was posted either...
I recently noticed the supply was 100% (I think only a couple of days ago).
So glad you asked about it; We've been waiting for it to post. So I guess it's now posted.
Thank You for paying attention!!!

[CRYPTONAIRE]

@dzimbeck
@BitBayDoc

Thanks for the replies guys!  Now a few more queries:

I have downloaded v3.0.0.15-gf683d6; is this correct?  Reason I ask is that there appears to be no discernible difference from previous version.

I have a frozen balance = 0; is this simply because I have not yet voluntarily frozen anything?

Where does the supply = 100% appear?  And does it matter to me?

How do I freeze coins exactly?  Do I have to freeze ALL of my coins, or simply a number that I specify?

As for paying attention BBD, I never take my eyes off this thing.  I'm not into many crypto projects, just a handful, and BAY is my absolute favourite.  Gold-plated, diamond-studded excellence!

Sorry about all the queries, but I'm not a techie like you bods, so I need all the help I can get! 

[dzimbeck]

@dzimbeck
@BitBayDoc

Thanks for the replies guys!  Now a few more queries:

I have downloaded v3.0.0.15-gf683d6; is this correct?  Reason I ask is that there appears to be no discernible difference from previous version.

I have a frozen balance = 0; is this simply because I have not yet voluntarily frozen anything?

Where does the supply = 100% appear?  And does it matter to me?

How do I freeze coins exactly?  Do I have to freeze ALL of my coins, or simply a number that I specify?

As for paying attention BBD, I never take my eyes off this thing.  I'm not into many crypto projects, just a handful, and BAY is my absolute favourite.  Gold-plated, diamond-studded excellence!

Sorry about all the queries, but I'm not a techie like you bods, so I need all the help I can get! 

Thanks for the feedback . I didn't realize you were using QT and not Halo. In that case your version sounds correct. You won't see a frozen balance if you haven't voluntarily frozen anything(although you may see reserve coins if the supply changes). The supply appears at the top of the QT and it matters to know the supply to know the size and health of the economy in my opinion. To freeze there are options for voluntary liquid freeze (4 month lock 40 coins reward) and reserve transfer/freeze (1 month lock 20 coins reward). You simply send the coins to yourself with one of those options selected. You don't have to freeze anything if you don't want to. The reason people do it is to get a boost in staking rewards. And some people only choose to freeze a certain portion of their account. Also they choose to freeze in batches of no more than 100k per transaction/freeze so they can be ensured consecutive stakes. Since I don't think QT batches the outputs (Halo does do that for you however QT doesn't)

[CRYPTONAIRE]

Hi David.  Thanks for the speedy response.

I've tried sending some coins 'to the freezer', and that seems to work OK. The total of frozen coins is displayed correctly.

I don't get the concept of 'batching'.  What do you mean by consecutive stakes?  And if you do batch coins for freezing, does this simply mean sending sums of 100,000 each time to the same address, or must you create different addresses for each batch?

Can you point me to where the supply is displayed; I just can't seem to see it anywhere?

Thanks in advance.

[BitBayDoc]

Hi David.  Thanks for the speedy response.

I've tried sending some coins 'to the freezer', and that seems to work OK. The total of frozen coins is displayed correctly.

I don't get the concept of 'batching'.  What do you mean by consecutive stakes?  And if you do batch coins for freezing, does this simply mean sending sums of 100,000 each time to the same address, or must you create different addresses for each batch?

Can you point me to where the supply is displayed; I just can't seem to see it anywhere?

Thanks in advance.

@Cryptonaire - I can answer the "where is the supply displayed" question.
The questions about batching, consecutive stakes, etc. I will save for David.

Note: There is going to be most likely one more update after this recent one, on the Client before the Exchange launch.
David, BitBayDev or myself will post when that is available. The Exchange launch should not be far behind…

1.   To see the Supply, go to History in the Client and click on that. Two lower boxes will appear.
The lower left side box will show you: liquid, frozen, reserve and supply.
3.   The Supply reflects the total percentage of Bay that is Liquid vs. Reserve/Frozen as a reflection of the Peg voting.
The Supply percentage is the same for the total coins, as it is for everyone's individual wallet.

[dzimbeck]

Hi David.  Thanks for the speedy response.

I've tried sending some coins 'to the freezer', and that seems to work OK. The total of frozen coins is displayed correctly.

I don't get the concept of 'batching'.  What do you mean by consecutive stakes?  And if you do batch coins for freezing, does this simply mean sending sums of 100,000 each time to the same address, or must you create different addresses for each batch?

Can you point me to where the supply is displayed; I just can't seem to see it anywhere?

Thanks in advance.

If you are using the QT the supply is that little speedometer in the upper right. When it says 100 it's fully liquid.

When you stake, those funds are not available again until the stake matures which can take about an hour. Since to stake, you spend. Therefore if you have all of your coins in an input of 1 million and you win a block then you will not have the ability to win a stake again until that coin matures. Therefore you only need to make 10 payments each of 100k to yourself when you freeze. That ensures that when you win a block then only 100k is out pending while 900k is attempting to win another block.

You do not need to create different addresses, just make each payment for freezing of no more than 100k per payment if using the QT.

Also you can get more specific peg info from the console and see the list of commands with help. getpeginfo returns more specific info (like the current supply index)