Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 102. (Read 542115 times)

"?" means genereated but not accepted. You see that if you hover over it. It means that someone beat you to that block.

when you say bitbay keeps as volatile as it is right now, I would say this is someone accumulating a lot of bays right now. Let's see when bitbay will break 900 first!

QT Wallet question - I bought BAY earlier this year, and immediately moved it into a QT wallet but never turned on staking.

I saw the new QT wallet was released (v2.0.0.0-g32a928e) so downloaded that earlier this week from the Bitbay website, replaced my old .exe with the new wallet, deleted all the BitBay files in the AppData folder except for my wallet.dat file, restarted the QT wallet and let it sync fresh with the network. 

It's all synced up now, showing me all my previous transactions with a correct balance, and the wallet version is v2.0.0.0-g32a928e. 
So I turned on staking yesterday, but so far all mined coins have given me a "?" in the transaction tab so it sounds like i'm not on the forked chain?

Anyone know what could be the issue and how to fix it?  Thanks!

Yes for Stake reward. Now It's 20 coins per block.

‘Triangulating’ ? ...lol  ... i guess this is GM chess brain 🧠 talking ... David must have studied his end games really hard

thank you. thats OK too. so i will transfer more coins into the webwallet address then.

Did the Fork already happen? Did´nt see any announcment.

Bitbay attrackted my attention a few weeks ago because if this gains traction it can turn out to be huge. Nice name also, resembling another great marketplace. It has some competitors though but i never would have guessed that syscoin was also related to a marketplace. However, if bitbay keeps as volatile as it is right now than i will be selling an buying and selling and buying. Hodling is not very interesting right now. Bitbay needs some work also. If it has nice categories like other centralized exchanges and a user interface just like that than it can explode.

Of course it was a good plan this time.

One time though you may sell for 900sats and get price out watching it travel to 10000 sats and beyond.

With a coin with this much minting and so many in the hands of day traders and scalpers/churners bay will find it tough get a good rally going.

You need to transfer these coins to the investment types that like to accumulate nice interest in return for buy large chunks and holding them a long time.

Masternode TYPE variable savings bonds would save this happening forever.

People arguing against introducing masternode type savings bonds now are litterally crazy. We can get the same effect and greater than the best masternode projects.

Until that point we are in for much of the same.

Bay does not have enough hoarders/savers... we have a majority of churners. We are attracting more with our great yoyo graphs too.

It's almost like a guarantee now. You sell into any quick double up then buy back for half price.

Introducing new tech to these types is casting pearls before swine.

Bring in the hoarders and savers and watch the liquid supply dwindle down then bring in some nice rallies.

The new improved pos rate will help but it is not enough alone to compete with masternode type models in terms of incentivising accumulation and saving long term.

It is hard to see with bay how many are in the hands of real long term believers and holders. I mean i even think many churners believe in it they just like making a few btc whist accumulating. Sadly this is long term detrimental to the project.

Get this coins out of the hands of churners into the hands of accumulaters and savers. These two types of people have totally different mindsets we need the latter.

We need to work smarter not harder here. You can litterally code and code and code until we have product that is the most advanced and useful crypto out there but if nobody finds it on page 1 because the churners like bumping it up and down extracting btc from new investors then forget about it reaching its rightful place.

sad to see bay bumped out so harshly of the top 100 but it really is not so surprising.

all crypto today is based on speculation not real use cases the world is not yet ready for the real use cases so my advice play to the speculator and give them what they want rather that what you know is better for them long term. Worry about the real use case (which we have in abundance) later when we have satisfied the speculators and got up there with projects people are talking about in the top 10 or 20.

we can even phase them out if the peg really will work as we hope

The client is multisig. You would need two keys. For only one key you would have to load it in Qt wallet if you want to use it outside of web wallet.

i am not sure if my question was answered. so again.
can i use the Private key (WIF key) from the web wallet with the client? like an ETHkey from MEW?

You can only see contracts that are posted or refreshed after you joined the market. You will see more in the next 48 hours.
We have built a bitmessage server. In one of the next updates you will get an option to connect to it. Then you will see all orders imidiatly.

I see nothing wrong in trading with the bay token. If you bought at 579 satoshi and it goes to almost 900 satoshi i will sell because i know it will come down again. Now i bought back at less than 500 satoshi. If i just would have hodled i do myself short. Now i have more and cheaper bay. By the way, am i doing something wrong or are there really so few sellers on the bitbay market? I see only 5 or so sellers with stuff.

well, i have to admit that i sold part of my coins when the price was about 1800sats. why? because now i have a wallet with free bay. and i can wait until the price is reasonable to sell.

I've never been under the opinion that selling something for less than it's worth is efficient profit taking. Imagine the people who sold Bitcoin at 30 dollars after they made so much money and then seeing Bitcoin drop to 2 dollars and then shoot up to 10,000 dollars. BitBay traders should consider that selling so aggressively prevents us from being on page 1 and also sustained spikes encourage new people to enter the market. Thus holding is by far more profitable than selling. Plus when you sell you can't predict the next spike and could thus lose your position. But that is just my personal opinion I understand that everyone wants to buy Monacoin or Dogecoin perhaps because their awesome lack of utility. 

The price of BITBAY is going through the inevitable profit taking. Investors who have a deep understanding of this project should take chips. Don't be washed up by dog farm.

How to stake? Can somebody give a link or explain here?
And is it profitable? How many bays should I have for a real chance to win a reward?

Fork is success. Stake reward is now 20 Bay pr block.
Next event is releasing our own forum Dec 4th

The Client allows you to use any payment method. You can trade anything for anything. You just need BitBay for the collateral deposit for the smart contract, or bitcoin for a BitHalo collateral deposit for a smart contract.

The beauty in it that that most don't understand is that coins have to be locked in place in order to create a contract, and coins are locked when the counterparty accepts the contract. This prevents double spend and further strengthens the fact that you have to actually have to money to complete a contract before you can even begin - no room for shady people!
But most importantly it causes the whole network to have a set percentage of the total coin supply frozen from usage at any given time. The more people use the marketplace the more % of total supply is sold. If you can't spend it you can't sell it on an exchange!
This creates even more stability for the value of the coin as it acts as a domino effect countering sell pressure.
And stakers that are being rewarded for supporting the network don't have to deal with competing with those coins for new block rewards.

So even though we are at 1% ROI stake reward on paper and that POS 3.0 creates an estimated 2-5% ROI because it's impossible for all coins to stake at one time, stakers must also take in consideration that their ROI will increase as well from marketplace usage locking up coins in contracts. I'd hope that in the future we could see 20% to 30% of the total coin supply locked in contracts.
It's going to create a very solid symbiotic ecosystem where each different aspect will feed and strength others.

Now imagine what happens when international trade organizations realize that they can use the bartering smart contract for trading minimizing or removing the need to deal with the shady middlemen forex brokers and bank wire fees!
Imagine Japan selling 10000 pounds of Kobe beef for 2,000 bottles of French Pinot Noir. To complete the contract all they have to do is lock BitBay collateral in place in a smart contract and if the value of their specific fiat fluctuates violently during the transaction, they simply settle up and agreed upon compensation amount with just a BitBay payment!

Now imagine what happens to the price of BitBay when investors realize this and realize that BitBay can literally make Ripple obsolete! Ripple is nearly a 10 billion dollar marketcap coin!
What does that say about BitBay's current price and potential growth? To me that means we deserve to be over 10 billion 
 

Have a question for the Dev's, was thinking about your logic in introducing only a market wallet and it occurred to me that the market client offers both Bitbay and Bitcoin as payments alternatives, so how will this help people buy more Bitbay, you would need a Bitbay ONLY market and a noob friendly interface, those 2 things would increase Bitbay value IMO.