Topic: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open - page 246. (Read 339472 times)

I'm in with 22000 Bay! "Let it Rip!"

Its not copying Blackcoin, the only Blackcoin devs are rat4 and myself. This project will help us develop more for Blackcoin especially since I'm setting up and training devs in Asia. Also, maybe you should realize that if this coin gets pegged at a dollar its a billion dollar market cap. Is that enough money for you? If that was the market cap, you would instantly gain tons of money. Furthermore, we can easily adjust the peg by changing the parameter of the network. So if Bitcoin grows in volume and scope we can peg to Bitcoin. Its just a hedge, the network can use whatever hedge it wants.

As far as tech promises, if you are familiar with Blackcoin subreddit you will know that I always honor my word. The reason they fork Blackcoin is because its the best coin and it supports my contracting software. The markets already are integrated because Bitmessage already works in BlackHalo. Don't trust me? Download it and do a contract with me in Bitmessage. I was approached and asked to do this. It was not the other way around. Lastly, if you think you can run a cryptocurrency business better, then go ahead. Nobody is stopping you.

I'm in with 4800 BAY

Thanks for the response. Interesting stuff.
At that price you would be lucky to get a programmer in the west for half a day.
Lets hope your works is well rewarded on this project 

Unfortunately, because im broke. Its too bad because i could have had so much money had i sold all my coins before the horrible summer. But once the summer ended i had nothing. The only way to expand Halo was to pay for it myself. For some ridiculous reason, we could not get funding. We just fell through the cracks. I did not want to have my "hat in my hand" looking for investors so I was just like "Screw it, I'm going to Cambodia and hiring myself a bunch of  devs". It was between Cambodia and India. But i thought Cambodia may be a hidden treasure because its so underdeveloped. And its cheaper. Although now, I wonder also about Bangladesh.

What i learned was, India may have been a better deal because finding devs here without jobs is a really slow process. So better to pay about 20-40% more and get a HQ Indian dev.

Although some of the sources here I talked to said it was the same.

About 150-300 per month for a beginning level dev (although here is most C# and little python)
         300-500 for middle level dev
         800 for senior dev

Once again. I'll put this simply. I am not a user. I am a speculator. Why should I speculate on a crypto pegged to US dollars? Where is my profit? Why should I take the risk and buy Bitbay coins now, why not to keep my dollars, if not bitcoins?

And this thread is useless to help me to make a decision. It' s just full of technology promises and vague business plans. Let' s copy blackcoin, get some chinese businessmen on board etc.

I'm not 100% sure but I actually believe that is because David is currently physically located there so he has the ability to meet with / manage them directly as opposed to hiring from outside and having to manage over group messaging/skype/irc/etc.

Can i ask why you hired a team from Cambodia
Im thinking cost was the prime reason which is fine. Just curious

I cant speak to much for the technical stuff but I think your on the right track there. Dont know if you saw this before? Maybe it helps.




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Thanks yeah its also decentralized trading of coins. But for coin trading I dont have it listed YET because I'm coding two engines in Blackcoin called "NightTrader" its basically a micropayment engine and a multisignature exchange engine. They are meant to fully decentralize trade without relying on atomic trading. There is other things we can do too like we can microtrade time locked coins as long as the coins touch the multisignature account. This again, doesnt require checklocktimeverify on both networks its an elegant solution to decentralized trade without middle coins. But I had to be practical and make sure the markets are running and solve other problems.

So, hopefully we can get more devs to worry about adding my engine because im trying to focus on the complex stuff so they dont have to. Currently I just hired 4 devs here in Cambodia and im paying out of pocket. They are totally new to Bitcoin but im training them. Cambodia does not have a lot of python devs so its been very slow getting them started. Has I not wasted time with devs, I could have coded the markets myself already.

Regardless I knew I needed help and refuse to work alone for the rest of next year. So this deal with Bitbay will help set up my dev team. That was part of the deal.

I'll say I''m impressed with it all. Coin will be a top 5 imo without any doubt.  

I'm reading a lot about NuBits here. How about BitUSD?
I'm a Bitshares guy so I'm biased but I think it's a much better product.

thats really interesting. all sounds like a well thought out plan. execution sounds like a bitch though. really complex. i am not saying i doubt you can do it or anything, just noting that to do it will be hard.

so, to be clear, is the goal decentralized digital markets/exchanges for coins, or are we talking physical goods? if the latter, which i think is what ya mean, then it seems the only remaining problem for users would be keeping shipping and delivery addresses anonymous from one another. not that the market should solve that, of course. what i'm trying to say is it sounds like you've covered everything a market could cover.

impressive.

That made me lol... ok well im going to repost the link. Its more of a "diagram" than a flow chart. So they way it works is, the nodes in the network do something similar to a multicast to all the other nodes that they find through each others known nodes. And they all try to decrypt everyones messages to see if it is indeed their. In order to prevent spam Bitmessage forces proof of work. But of course, an ASIC can smash their network. SO, use two methods. First burn coins on any network of your choose OR use timelock and lock a certain amount of coins to come back to you. (you pay yourself). Then, you can only post as much messages per minute as you have funds.

So, markets are channels in bitmessage or shared mailing lists. In SOME ways these can be decentralized servers. But, spam and of course inability to moderate is a problem. But its only a problem if everyone else can see you. SO, make a trust building system using Bitmessages white lists. This forces nodes to behave well in the lower level mailing list or perhaps a centralized server to earn the right into the moderators market. The mod likes you? He will burn your address into the blockchain thus making you a member of the white list. He could even store the list on a webpage no problem. You check that list, get into the network, they see you and the network is small only filled with people who behave well. Then to mitigate spam further you connect networks together like legos. Each network has moderators and can communicate with other moderators about the contents of their networks.

Thus Bitmessage is able to scale and avoid spam. It also can filter content based on rules (perhaps they want a clean market).

One more layer here... Halo itself can filter incoming and outgoing requests to bitmessage. So even if there was crap on the channel your actual client would not be able to see it. SO, here is a diagram that shows that. Granted, it sounds complex but its not so bad. I will have the markets with mods in our beta as well as a key i can publish to force it back to a server if it gets too much madness. Then after, i code the whitelists system. Basically, I force people through a server first and have them do some honest deals. Once they check out after a certain number of months and volume they get into the whitelist. Our server/bitmessage address signs for the whitelist for our market. Now if somebody wants to start their own channel, they use the same model.

A channel does not need a mod necessarily but ours certainly will and so will NightTraders.

Here is the page with my diagram...
https://bitcointalk.org/index.php?topic=850267.340

You should check out BitHalo and BlackHalo. This is my program that has been out and tested for almost a year. And yes, nobody can ever scam these contracts. They are by far the most secure way to do business. Check out blackhalo.info. You can read my whitepaper there its very exciting tech.

Well this was just an example. Also I should mention that your client would be locking the funds. And its not dissimilar from "Parking" funds in Nubits, we can offer incentive for parking with manufacturers. One method is to use only one manufacturer at first to simplify the distribution. I'm mostly interested in mesh networks to be honest. That is exactly what I discussed with the other players. My solution works, its not "green addresses" per se but I agree even though it works it may not get adopted. That solution works around bitcoins weakness of trustless doublespend problems. What you are describing is a problem inherent in Bitcoin itself so the only other way is to make the device are party to the transaction in some way so it can trust the RAW transaction is valid. This way it doesnt have to wait for confirmations since it knows its holding a signature, hash or something that would prevent you from spending otherwise. Time locks are not permanent, they are only needed to create a connection with the hardware manufacturers server to prove you arent double spending on one of their devices.

So, no offense taken. I have yet to see a better solution. Perhaps I can come up with an additional one later and PM you when I do. After all knowledge should be free. So we are taking baby steps. Just start with what works and let the industry evolve. That solution works for your particular use case. Users can also do a double deposit contract with device manufacturers in advance. Then they would not need to use my above proposed method.

Bitcoin itself is highly flawed anyways, it doesnt have a very advanced scripting system, there is malleability which always needs to be worked around by protocols, there is major problems with botnets and sybil attacks, there is a scalabiity issue that is very complex to confront (im speaking of bandwidth issues in securing the blockchain) and so on.

With that said, they liked my ideas with mesh networks and added it as IoT which is a misnomer. The mesh netowork idea I had was working with hardware but not necessarily in real time. A good example is Blackcoins COLD Staking. This is something rat4 added some RPC calls for. Now I can do multisignature staking in Halo. We could then, use a device with the staker to sign the second sig. So this is a case where you dont need instant confirmations.

 To me, mesh networks are a dream goal if we even get close to that point this project will be a smash hit. So really my impression in starting this project was to start in mesh. If they really want to do this with me, we can change the world so its of great interest to me to see this follow through.

Lets be clear about this roadmap again:

*DEMO Smart contracting client(from BlackHalo)  --- Within a week. Trying to get it before ICO ends but not 100% sure.
*Markets(beta without advanced whitelists but with a kill switch/mod key) --- Within a month or two max. I've been working on this for Blackcoin, they coincide

The last two get worked on simultaneously with Hedging taking precedence:
*Hedging transition with the checklocktimeverify --- this is about a month... we can pull from NuBits, but we are dealing with a larger supply so that math has     to work out to manage all of everyones funds properly. If they pay my dev team I can have them work on this fork BEFORE I finish my markets which would greatly increase the speed in the fork.

*Markets with whitelists/double back on server --- one month after the main markets release. Its not a difficult implementation, its very elegant but there would also be some user interface feedback and bugs we want to respond to. This could delay one additional month so we will have to ask users to behave in our decentralized markets so we don't have to shut it down.

So give the above a total of 3 months. Realize I'm trying to underpromise and overdeliver. And you know I deliver if you read blackcoins subreddit

ONCE we are hedged, we can go for the mesh networks. We will now be capped at a billion dollars(thats my target price anyways) and be able to afford and utilize our connections to the hardware markets and we will indeed create an incentive system for setting up these networks.

https://www.reddit.com/r/BitBay/comments/2lwx22/ama_with_bitbay_and_dzimbeck/

I actually just went over it yesterday, very good stuff (it's pretty much one of the main reasons for buying-in myself, as I'm gunshy when it comes to most alts in general).

Good evening,
so just finished reading the thread, got back from work.Well i can see some strong hand in the Dev team for sure.
i like the simple way of explaining things,open dev is always a good sign.I would love to hear some future plans for this project it sounds promising for me personally.Can somebody provide a link to the reddit Q&A i re-installed my PC and i lost my history.(thank you in advance for that)

I want to hear about the technology, if somebody is good lad and explain to me how exactly is BitBay working will be helpful for me,this smart contracts sounds interesting for example.
With that nobody can scam me with a trade right?
maybe i didnt understand it quite right i guess, thats why i could use some help understanding the Tech better.


Ok thank u in advance with the help


P.S
Btw merry btc rise