Crypto is more of a community of traders than investors. True enough.
That said, I think that the trading period prior to December/January (or whenever the hedging takes place) makes that point irrelevant.
It's an easy investment if you put in what you are willing to lose. The only question is what happens after David delivers all of the code...then we find ourselves in a real world investment. People have to buy and sell for this to be a success...smart contracts go a long way to providing a people a reason to move money around in that space...
I'm excited to see what will happen because I am not just waiting for a developer to develop...that much is a given in my opinion. I'm waiting for a populated marketplace...that will be awesome...
two cents...
Topic: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open - page 169. (Read 339485 times)
November 24, 2014, 02:47:57 AM
November 24, 2014, 01:48:54 AM
Why is this coin worth 1m USD market cap? With nothing released yet?
Why is FTC worth $1.75M? Why are PND and QRK worth ~$1.2M ea.? How about the re-launch of Fuelcoin with it's 50% premine... which is worth nearly four times as much?
For that matter, despite definitely having much more 'built out' (as they should considering their age/investment capital) why are LTC and XRP worth ~125X and 275X respectively, as much?
Because that is what the market is willing to pay for them. Period. Or I guess more to the point, people invest precisely in new ventures because at one time they were all worth almost nothing at all including BTC. So investing a few hundred or perhaps thousands of dollars into a venture which has a decent potential of becoming a similar valuation in a year or so is a pretty amazing opportunity.
As long as you aren't investing money which you cannot afford to risk, and have confidence in the devs and the concept/goals of the coin - is anything else (especially in the first week or so) really all that critical? God knows there's been billions of investment capital funneled into projects/businesses that had far less to go on... at least anyone that was investing in the late 1990's should know of a few thousand. Basically, anything that was web-centric got a $50M+ IPO... and most of them turned into Pets.com, WebMD, or MarketWatch.com... seeing a surge of 200%-500% in their first few weeks... only to be bankrupt or worth a tiny fraction of that amount 1-2 years later. Many had an IPO with little more than a Powerpoint presentation and an MBA or two on their boards - no customers, no stores, no inventory... nothing but a concept.
However, some of those investors throwing money at a number of totally unknown IPOs in those days bought Amazon, Ebay or Priceline at less than $20 per share each. If they held even a decent amount through the "I told you so..." crash in 2000... they've seen 2,000% to 10,000% gains from those holdings over the past 10 years. That's the whole point in investing and speculation in general. If you want a proven commodity prior to investing anything - then just invest in the index itself and hopefully get 5-10% gains per year on average (after all it's not without risk either... it's just mitigated by diversity and volume). In crypto terms that would mean just buying BTC and holding only it - don't even bother looking at anything else.
On the other hand, since BTC already went from pennies to ~$370/BTC (still a massive gain for early adopters, back when it had nothing but a concept to go on). Despite losing close to 75% of it's value from the top, I still consider my BTC to be the best "random chance" I've ever thrown pocket-change at. I doubt there's much of a chance of it hitting $37K per BTC anytime in the next 2-3 years (or likely ever for that matter). It's more likely that something with a great idea and some dedicated talent behind it can go from $0.001 to $0.1 or even $1.00 - which will get you every bit as much or more of a return if it happens.
The bottom line is this: If you believe in the coin/concept/venture then invest what you can afford to risk. If it seems interesting but you're suspicious/hesitant, then check back in a few months. If you're positive it's just another scam/fraud then move along and don't look back.
Only time will tell who is right and who is wrong - but debating it over and over in the thread is not terribly productive either way IMO.
Well said! It's a very simple formula really: (Success + profit) = (patience/discipline) + due diligence.
There is a clear cut difference between Investing and trading, sorry to state the obvious. Unfortunately Crypto has become a community of traders rather than investors. There is affecting the prices of coins where you can't easily sit in one coin and wait for the long term potential to be reached, even with Bitcoin the chart slopes left to right. The big gains are always in investing still though. Bitbay is clearly a long term bet that this is a system that will take over the current system of Ebay and online trading sites.
I personally think this is the best bet that this can be achieved cause it brings the necessary elements together. I completely get why David was hired for this project because his technology is essential for this to work. Someone instigating this project is bringing together the necessary elements and you can see is totally serious about achieving the goal of decentralised trading. So I'm assuming the smart people getting David and his tech in the this project are just as serious in other parts for the project including trading contacts etc.
My point is I think this project is more planned and bigger than even supporters realise. I think some smart big players are involved pulling strings, they are serious is my hunch and the ICO was simply seed money to pay all involved to carry out the work.
November 24, 2014, 01:34:28 AM
Why is this coin worth 1m USD market cap? With nothing released yet?
Why is FTC worth $1.75M? Why are PND and QRK worth ~$1.2M ea.? How about the re-launch of Fuelcoin with it's 50% premine... which is worth nearly four times as much?
For that matter, despite definitely having much more 'built out' (as they should considering their age/investment capital) why are LTC and XRP worth ~125X and 275X respectively, as much?
Because that is what the market is willing to pay for them. Period. Or I guess more to the point, people invest precisely in new ventures because at one time they were all worth almost nothing at all including BTC. So investing a few hundred or perhaps thousands of dollars into a venture which has a decent potential of becoming a similar valuation in a year or so is a pretty amazing opportunity.
As long as you aren't investing money which you cannot afford to risk, and have confidence in the devs and the concept/goals of the coin - is anything else (especially in the first week or so) really all that critical? God knows there's been billions of investment capital funneled into projects/businesses that had far less to go on... at least anyone that was investing in the late 1990's should know of a few thousand. Basically, anything that was web-centric got a $50M+ IPO... and most of them turned into Pets.com, WebMD, or MarketWatch.com... seeing a surge of 200%-500% in their first few weeks... only to be bankrupt or worth a tiny fraction of that amount 1-2 years later. Many had an IPO with little more than a Powerpoint presentation and an MBA or two on their boards - no customers, no stores, no inventory... nothing but a concept.
However, some of those investors throwing money at a number of totally unknown IPOs in those days bought Amazon, Ebay or Priceline at less than $20 per share each. If they held even a decent amount through the "I told you so..." crash in 2000... they've seen 2,000% to 10,000% gains from those holdings over the past 10 years. That's the whole point in investing and speculation in general. If you want a proven commodity prior to investing anything - then just invest in the index itself and hopefully get 5-10% gains per year on average (after all it's not without risk either... it's just mitigated by diversity and volume). In crypto terms that would mean just buying BTC and holding only it - don't even bother looking at anything else.
On the other hand, since BTC already went from pennies to ~$370/BTC (still a massive gain for early adopters, back when it had nothing but a concept to go on). Despite losing close to 75% of it's value from the top, I still consider my BTC to be the best "random chance" I've ever thrown pocket-change at. I doubt there's much of a chance of it hitting $37K per BTC anytime in the next 2-3 years (or likely ever for that matter). It's more likely that something with a great idea and some dedicated talent behind it can go from $0.001 to $0.1 or even $1.00 - which will get you every bit as much or more of a return if it happens.
The bottom line is this: If you believe in the coin/concept/venture then invest what you can afford to risk. If it seems interesting but you're suspicious/hesitant, then check back in a few months. If you're positive it's just another scam/fraud then move along and don't look back.
Only time will tell who is right and who is wrong - but debating it over and over in the thread is not terribly productive either way IMO.
Well said! It's a very simple formula really: (Success + profit) = (patience/discipline) + due diligence.
November 24, 2014, 01:34:09 AM
There is a few things im wanting to add before release like a "First time user" wizard,
That's actually a nice touch...not sure if there is anything else you could do that could implicitly communicate the intent of the project...hint to the naysayers...
Its very important. When we released Halo in July the biggest criticism was that it was a prototype and it would not be mom friendly.
Thats all going to change. There is a long list of features to make this so easy anyone can do it. They will not need to know what bitcoin is when i finish. Also, they will not need to "think" about deposits and what is good for each deal, all of that is done automatically and the user is only informed.
A while back I realized explaining to people some very simple concepts about escrow proved to be amazingly difficult.
So the idea is to get everything explained in a series of videos in my video library and BitBay will handle everything under the hood.
Thanks for sharing this David. It will mean a world of difference if people don't need to think it all out but rather just make it do what they want without much though. A real good steps towards mass adoption.
November 24, 2014, 01:32:12 AM
Why is this coin worth 1m USD market cap? With nothing released yet?
Why is FTC worth $1.75M? Why are PND and QRK worth ~$1.2M ea.? How about the re-launch of Fuelcoin with it's 50% premine... which is worth nearly four times as much?
For that matter, despite definitely having much more 'built out' (as they should considering their age/investment capital) why are LTC and XRP worth ~125X and 275X respectively, as much?
Because that is what the market is willing to pay for them. Period. Or I guess more to the point, people invest precisely in new ventures because at one time they were all worth almost nothing at all including BTC. So investing a few hundred or perhaps thousands of dollars into a venture which has a decent potential of becoming a similar valuation in a year or so is a pretty amazing opportunity.
As long as you aren't investing money which you cannot afford to risk, and have confidence in the devs and the concept/goals of the coin - is anything else (especially in the first week or so) really all that critical? God knows there's been billions of investment capital funneled into projects/businesses that had far less to go on... at least anyone that was investing in the late 1990's should know of a few thousand. Basically, anything that was web-centric got a $50M+ IPO... and most of them turned into Pets.com, WebMD, or MarketWatch.com... seeing a surge of 200%-500% in their first few weeks... only to be bankrupt or worth a tiny fraction of that amount 1-2 years later. Many had an IPO with little more than a Powerpoint presentation and an MBA or two on their boards - no customers, no stores, no inventory... nothing but a concept.
However, some of those investors throwing money at a number of totally unknown IPOs in those days bought Amazon, Ebay or Priceline at less than $20 per share each. If they held even a decent amount through the "I told you so..." crash in 2000... they've seen 2,000% to 10,000% gains from those holdings over the past 10 years. That's the whole point in investing and speculation in general. If you want a proven commodity prior to investing anything - then just invest in the index itself and hopefully get 5-10% gains per year on average (after all it's not without risk either... it's just mitigated by diversity and volume). In crypto terms that would mean just buying BTC and holding only it - don't even bother looking at anything else.
On the other hand, since BTC already went from pennies to ~$370/BTC (still a massive gain for early adopters, back when it had nothing but a concept to go on). Despite losing close to 75% of it's value from the top, I still consider my BTC to be the best "random chance" I've ever thrown pocket-change at. I doubt there's much of a chance of it hitting $37K per BTC anytime in the next 2-3 years (or likely ever for that matter). It's more likely that something with a great idea and some dedicated talent behind it can go from $0.001 to $0.1 or even $1.00 - which will get you every bit as much or more of a return if it happens.
The bottom line is this: If you believe in the coin/concept/venture then invest what you can afford to risk. If it seems interesting but you're suspicious/hesitant, then check back in a few months. If you're positive it's just another scam/fraud then move along and don't look back.
Only time will tell who is right and who is wrong - but debating it over and over in the thread is not terribly productive either way IMO.
+1000
As an early adopter of BTC you won't believe how many times people criticized me for not selling it when it reached $1. In June of 2010, one Bitcoin was worth $0.004 : In 2013, one USD was worth 0.004 BTC
Who got the last laugh at at end?
People don't realize that crypto isn't even that old YET. If you buy any good coin and hold it for few years you can easily become millionaire within few years VS day trading all day just to get small profit that pays your utility bills.
Obviously entry point is very important since you don't wanna be the guy who buys it at highest price and turn into bag holder but at the same time no body knows the future. People would look at crypto (few good coins) and wish that they had bought some in 2014 when it was dirt cheap. You can mark it and come back in 2020 and you'll see what I mean. I've stored lot of good coins in my external pen drive (bay being one) and I will not touch them till 2020. If I see a good opportunity I jump right in and stack it up.
Real money is in holding long term. I would rather take million dollar surprise than $1000 profit. 3 years + is the minimum wait time if you want to see big profit. If someone made a mistake of not buying bitcoin in 2009 or even 2010 doesn't mean they have to keep repeating the same mistake 2014. Crypto has come in to give everyone a chance and more importantly there are many options to choose from so at the end no one will lose.
November 24, 2014, 01:13:46 AM
Why is this coin worth 1m USD market cap? With nothing released yet?
Why is FTC worth $1.75M? Why are PND and QRK worth ~$1.2M ea.? How about the re-launch of Fuelcoin with it's 50% premine... which is worth nearly four times as much?
For that matter, despite definitely having much more 'built out' (as they should considering their age/investment capital) why are LTC and XRP worth ~125X and 275X respectively, as much?
Because that is what the market is willing to pay for them. Period. Or I guess more to the point, people invest precisely in new ventures because at one time they were all worth almost nothing at all including BTC. So investing a few hundred or perhaps thousands of dollars into a venture which has a decent potential of becoming a similar valuation in a year or so is a pretty amazing opportunity.
As long as you aren't investing money which you cannot afford to risk, and have confidence in the devs and the concept/goals of the coin - is anything else (especially in the first week or so) really all that critical? God knows there's been billions of investment capital funneled into projects/businesses that had far less to go on... at least anyone that was investing in the late 1990's should know of a few thousand. Basically, anything that was web-centric got a $50M+ IPO... and most of them turned into Pets.com, WebMD, or MarketWatch.com... seeing a surge of 200%-500% in their first few weeks... only to be bankrupt or worth a tiny fraction of that amount 1-2 years later. Many had an IPO with little more than a Powerpoint presentation and an MBA or two on their boards - no customers, no stores, no inventory... nothing but a concept.
However, some of those investors throwing money at a number of totally unknown IPOs in those days bought Amazon, Ebay or Priceline at less than $20 per share each. If they held even a decent amount through the "I told you so..." crash in 2000... they've seen 2,000% to 10,000% gains from those holdings over the past 10 years. That's the whole point in investing and speculation in general. If you want a proven commodity prior to investing anything - then just invest in the index itself and hopefully get 5-10% gains per year on average (after all it's not without risk either... it's just mitigated by diversity and volume). In crypto terms that would mean just buying BTC and holding only it - don't even bother looking at anything else.
On the other hand, since BTC already went from pennies to ~$370/BTC (still a massive gain for early adopters, back when it had nothing but a concept to go on). Despite losing close to 75% of it's value from the top, I still consider my BTC to be the best "random chance" I've ever thrown pocket-change at. I doubt there's much of a chance of it hitting $37K per BTC anytime in the next 2-3 years (or likely ever for that matter). It's more likely that something with a great idea and some dedicated talent behind it can go from $0.001 to $0.1 or even $1.00 - which will get you every bit as much or more of a return if it happens.
The bottom line is this: If you believe in the coin/concept/venture then invest what you can afford to risk. If it seems interesting but you're suspicious/hesitant, then check back in a few months. If you're positive it's just another scam/fraud then move along and don't look back.
Only time will tell who is right and who is wrong - but debating it over and over in the thread is not terribly productive either way IMO.
November 23, 2014, 11:59:04 PM
There is a few things im wanting to add before release like a "First time user" wizard,
That's actually a nice touch...not sure if there is anything else you could do that could implicitly communicate the intent of the project...hint to the naysayers...
Its very important. When we released Halo in July the biggest criticism was that it was a prototype and it would not be mom friendly.
Thats all going to change. There is a long list of features to make this so easy anyone can do it. They will not need to know what bitcoin is when i finish. Also, they will not need to "think" about deposits and what is good for each deal, all of that is done automatically and the user is only informed.
A while back I realized explaining to people some very simple concepts about escrow proved to be amazingly difficult.
So the idea is to get everything explained in a series of videos in my video library and BitBay will handle everything under the hood.
November 23, 2014, 10:50:51 PM
There is a few things im wanting to add before release like a "First time user" wizard,
That's actually a nice touch...not sure if there is anything else you could do that could implicitly communicate the intent of the project...hint to the naysayers...
November 23, 2014, 10:48:40 PM
.....So I'm targeting a week for a demo wallet. So we are right on schedule. At least the video will show people the update and help them relax.
Thanks for the update.
Glad things are coming together relatively smooth. Keep up the great work
November 23, 2014, 10:05:51 PM
Hey everyone! So I'm going to release a quick video showing the wallet.
There is a few things im wanting to add before release like a "First time user" wizard, and one panel for history needs to be done.
The markets are being worked on simultaneously.
So I'm targeting a week for a demo wallet. So we are right on schedule. At least the video will show people the update and help them relax.
There is a few things im wanting to add before release like a "First time user" wizard, and one panel for history needs to be done.
The markets are being worked on simultaneously.
So I'm targeting a week for a demo wallet. So we are right on schedule. At least the video will show people the update and help them relax.
November 23, 2014, 05:37:24 PM
*** POS 2.0 ***
As we passed Block 20000, BitBay has successfully transitioned into POS 2.0. We are now one of only 2 coins with this new technology.
To find out more about the benefits of POS 2.0, please read this excellent whitepaper from BlackCoin: http://www.blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf
Very ambitious. Good luck with the project
It's one of the most interesting at present time.Just got back from a long weekend to see this. Sweet! This coin just keeps getting better and better the more I look into it.
November 23, 2014, 05:15:59 PM
Are there any roadmap dates? Expected time frame for releases? I read this coin has a dev team working on this full time - is that true?
I still don't follow how this is better than open bazaar but I may invest to hedge my bets.
G.
I still don't follow how this is better than open bazaar but I may invest to hedge my bets.
G.
And you never will, until you start reading the thread. The answer to your last question is 2 posts above this post.
I read it. It wasn't that clear...
November 23, 2014, 04:09:56 PM
Are there any roadmap dates? Expected time frame for releases? I read this coin has a dev team working on this full time - is that true?
I still don't follow how this is better than open bazaar but I may invest to hedge my bets.
G.
I still don't follow how this is better than open bazaar but I may invest to hedge my bets.
G.
And you never will, until you start reading the thread. The answer to your last question is 2 posts above this post.
November 23, 2014, 04:04:37 PM
So we may see a drop in price to a more realistic level until something is actually released?
It just peaked and came back to an equal level of yesterday. Nothing unusual. I feel we are looking at something fantastic. See where we got in not even 1 week...
What happened this week other than price change? Did something get released?
November 23, 2014, 03:56:33 PM
So we may see a drop in price to a more realistic level until something is actually released?
It just peaked and came back to an equal level of yesterday. Nothing unusual. I feel we are looking at something fantastic. See where we got in not even 1 week...
November 23, 2014, 03:51:39 PM
So we may see a drop in price to a more realistic level until something is actually released?
November 23, 2014, 03:50:07 PM
Does anybody have an idea why the download of the Mac wallet isn't working?
Thanks!
Thanks!
November 23, 2014, 03:45:28 PM
Because the ICO of the coin raised 1 mil?
November 23, 2014, 03:44:38 PM
Why is this coin worth 1m USD market cap? With nothing released yet?
November 23, 2014, 03:20:21 PM
*** POS 2.0 ***
As we passed Block 20000, BitBay has successfully transitioned into POS 2.0. We are now one of only 2 coins with this new technology.
To find out more about the benefits of POS 2.0, please read this excellent whitepaper from BlackCoin: http://www.blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf
Very ambitious. Good luck with the project
It's one of the most interesting at present time. Jump to: