Topic: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open - page 41. (Read 339472 times)

Everyone, I will put an official statement on reddit discussing what makes sense to do from here. To discuss here further is to waste time and beat the issue to death. Thanks for listening. My statement will conclude briefly, discuss about future etc.

It's really sad what happened to this coin.
Greed is powerful over weak minds.
Karma will come around.

   Is anyone going to jail for this?!  

so many news about the dev team and the plan?
which one is right?

but would bob and gekko gain anything if their bay was nulled somehow? I mean they got free bay ...perhaps these bay can be destroyed with a new client?

can't be hard to freeze out those wallets that got .1Billion coins right?

they didn't dump them all yet did they?

it happened many times before and will happen in future. people are not able to learn in this community. watch them chase after shitcoin #23521 next week

 

BTER is notorious, I am a Chinese but never use this shit site. I prefer btc38

NEW THREAD CAN BE FOUND HERE: https://bitcointalksearch.org/topic/bitbay-official-bitbay-thread-smart-contracts-decentralized-markets-rolling-peg-890531

this project is DEAD unless the bay they got for free is nulled.

I'm still not 100% sure i'm reading these logs correctly. I mean this is pure dirt.  BTER owner is the worst culprit here if this is true. I mean nobody trusts bob or gekko.  The trust was given to BTER and some to DZ.  DZ to knew some shady shit was going to take place but probably thought sure let these guys make a few btc and i'll get a big bag of btc to get some development done. Either way investors would make money and so would he. He soon started to realise these people won't pay for any development they want the entire fund now. Then on to the next scam coin.

What I meant was:

Say counterparty plays host to Etherium and Bitcoin (by porting the Etherium code to counterparty etc and allowing access to the Bitcoin blockchain). That was gave it its last rise.

Great. But by investing in counterparty, you neither end up owning a stake in the Etherium project nor one in the Bitcoin blockchain. That is what I meant by "unerlying technology". Sure your investing in counterparty but that's just the broker. I thought that revaluation was rather hollow for that reason.

That's the thing. There is no Proof-of-work or Proof-of-Share in counterparty, ergo there is no 'staking reward' because there is no need to stake anything to achieve consensus amongst market participants.

You DO own a stake in the underlying technology. Maybe I just worded it badly but I'm not sure why you think you don't.

In exactly the way 1 BTC entitles you to 1 share out of 21million in the Bitcoin protocol. 1 XCP entitles you to 1 share in the CounterParty protocol- A protocol that was designed from scratch by the CounterParty team. NOT a fork of Bitcoin-QT. That protocol is the foundation for Medici, a forthcoming ATS by Overstock- http://www.investopedia.com/articles/investing/121014/medici-blockchain-stock-exchange.asp ; for which multimillion development budget has been allocated. Recently Bitcoin daily transactions surpassed 100,000 for the first time in history, XCP transactions were 3.5% of all transactions occuring onchain. There is no mining pressure.  As ubiquity increases, it's natural demand for a stake will increase.

ok, so the BTC from Bob and Gekko is gone, that much is clear.  But there is still the BTC held by you, Steven, and Lin.  That is at least 2000 BTC and still more then enough to find and pay more devs.

what's the solution?

is it at all possible to get the funds left now and use them for the development of this coin.

Can we cut away the coins from the scammers that seem to have got them for free?

I mean is all these coins were bought with phatom btc... how many real btc came from real investors that did not get their btc refunded to them and the bay as well?

I mean i'm still catching up...

bter allowed them to buy the bitbay but then refund their btc to them?? WTF BTER owner is going down to be in a LOT of trouble if proven.

Not at all, i wasnt really sure what my options were once the project had already started. So, i had no choice but to advance. But when they started to not pay for a team and they sat on their asses with the funds, then yeah of course.

So do you think they tried to find me devs? I think not.

These are the conclusion I have draw as well.  Bob comes across as someone who has very little foresight.  I dont know how he successfully runs a P&D group. Maybe he got lucky with bitcoin at some point and just brute forces his way into making more bitcoin. Fact is if he was smart and a real trader he could probably make a lot more and hold the respect of the crypto community.  But after this I cannot see even his P&D group trusting him.  What little shred of respect he may of had has quickly evaporated after this.  It might be time for a new bitcointalk account Bob.

By having sh*t quality control - look at his left hand.

No Cryptosis they KNEW what I had. They PRETENDED to not know. Im going to post this now so Bob doesnt try and control the narrative.

[11/17/2014 9:47:37 AM] Steven: we have got about 1783BTC values Bitbay(i hold 1283btc values+bob‘s group 500BTC refund), i have 442,450,977=0.442 billion.  Also let's say the average price of bob's 500BTC of bay is 275sat, so bob hold about 500btc/275 sats=0.182 billion. so we have 0.442+0.182=0.624 billion Bitbay. we will Reserve 0.074 billion（about 200BTC for dev funds）. so we have 0.55 billion for all of us.  and everybody will get 0.11 billion.  David will get 0.11 Billion. Steven will get 0.11 billion. lin will get 0.11 billion. bob’s and gekko will get 0.22 billion(original hold 0.182, will send 0.22-0.182=0.038 billion later). i do not know if i make some mistake, if i make some mistake, please correct me. or tell me later. Also i really hope everybody hold your coin for a long term investment, we have more charming features for Bitbay. never crash the market if you want to sell some. Bitbay is our baby. thanks. we will rank in top10 on coinmarketcap one day.  we have 100BTC+0.074billion Bitbay for dev funds, we can control this together. currently all dev funds are hold by bter. if i make some mistakes, please correct me. thanks bro. we can have a plan to pay Elmer and his guys later.
[11/17/2014 9:59:50 AM] Gekko: Perfect sir
[11/17/2014 10:00:07 AM] David Zimbeck: yeah thats ok

The mistake i made and im man enough to admit it is I tried to protect them because it also protected investors. I was complete fucked without any options. It was the complete opposite of the coin that i wanted to go into.

ANYWAYS next morning Rob sees it.

[11/18/2014 7:47:22 AM] International Rob: bittrex needs the source code
[11/18/2014 7:47:28 AM] International Rob: can asomeone get it to them?
[11/18/2014 8:15:24 AM] International Rob: so everybody get 957/5=191BTC
[2014-11-15 7:56:12 AM] Gekko: beautiful
[2014-11-15 7:56:26 AM] Gekko: and this is only the start
[2014-11-15 7:57:18 AM] Steven Dai: and get 356 BTC values Bitbay.
[2014-11-15 7:57:46 AM] Steven Dai: so everybody will get 191BTC+356 values Bitbay.
[2014-11-15 7:58:22 AM] Steven Dai: Also we should at least Reserve 100BTC+200BTC Bitbay for DEV Funds control by ourselves.
[11/18/2014 8:16:17 AM] International Rob: If that is the case then we each put up 20 btc for now into a multisig wallet and put aside the 100 btc right away.. in that case please keep the 21 btc I am still owed and use that as my portion of the funds put aside.. is that ok?
[11/18/2014 9:14:09 AM] David Zimbeck: yeah
[11/18/2014 9:14:27 AM] David Zimbeck: how did you guys want that joint account?
[11/18/2014 9:14:44 AM] David Zimbeck: I was thinking a simple joint account in BitHalo between Steven and I or Armory


Notice the operative word here "for now"

I tried to get it into a multisig at least. That never happened. It was one of my many attempts to get devs. I would show you guys logs about me asking for staff, devs, any sembalance of a company but i think at this point its redundant.

WHEN Steven stated Bob and Gekkos share, he was considering that Bob was going to pay back his group this was something that went way over my head.

OF course, he never did, he just put the BTC in his pocket


Regardless of what Bob and Gekko tell you. They knew the numbers, agreed to them, repeated them back and later act all "surprised" that I got .11 billion.

I was so pissed that they were trying to manipulate me (they already lied and told me whatever they had to say to use my reputation something Gekko bragged about later) that i refused to speak about my share with Rob since i was getting pretty tired of the bullshit. No need to look further than this exact exchange.

There was many many times i tried to mitigate disasters since i wasnt entirely sure how to protect anyone.

So in theory the Bitbay team did not have more than 30% of the coin (Which is alot but managable for pegging) SINCE it was Bobs pump and dump group that held the rest of the Bay. DO NOT LET HIM CHANGE THAT NARRATIVE.

How do you make these so fast? Making my stomach hurt

had a few days away... back to check on my new fav coin...

bitbay another great investment i made in the last weeks along with blocknet and scooping up some cheap xc which just went south even more.

to recap...

so bter is run by a scammer?
dz - is ok with it being a semi pump and dump manipulated price scam? so long as he is not accountable being just the coder... whilst taking some nice profits mostly built upon the strength of him being public and coding halo? although would like to see some development take place eventually if possible.



the other people in the team are just outright thieves?


put an order in at 1 sat, need to cost average down a little i guess.