Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 140. (Read 542140 times)
July 31, 2017, 05:22:07 PM
BitBay in the Crypto Times top 10 alt coin list: https://youtu.be/-QLXQolfIcw
July 31, 2017, 12:21:57 PM
BitBay Community Update - July 31st
Our marketing team has completed their strategy for marketing the future release of the CLTV update.We will spend ample time to market this to various media outlets. As this will be a great milestone for us. BitBay will be the first coin to have checklocktimeverify (CLTV) built into the Client UI - not just some protocol that sits ‘under the hood’.
We wish to thank all the community that has taken the time to complete our marketing survey. If you haven’t already please feel free to do so. Remember, we will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
The French marketing campaign continues. Our lead marketer, lude, will be speaking live with the Community "La Baleine"!
And thanks to ‘little_round’ for helping him with this campaign!
We are please to announce we will be listed on the Chinese BTC100.com exchange! They are currently revamping their website so we will have to wait a couple weeks before the listing will take place.
We’ve been listed on Cryptopia exchange as well!
After the rolling peg, these exchanges will hopefully be able to see the potential we can provide them as a decentralized hedging tool, and the potential to provide them with leverage(margin) trading as well - which will allow them to bypass the red tape involved with utilizing fiat as a leveraging currency!
Our SEO team is making progress. They are busy with our survey, building an SEO ‘turk team’, and pushing to keep our pos. 2 rankings for [bitbay]!
Our graphic designer, fridenhood, completed the draft of the first OP infographic revision bounty. We are make some minor alterations and hope to move to the next 2 ASAP.
As always - thanks for supporting BitBay!
July 29, 2017, 11:56:01 PM
Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?
I don't think it is specific to bay. A lot of altcoins are down, with people preferring to hold bitcoins. It has a lot to do with the BTC-BCC fork. Once August 1 and the fork is done and dusted, people are going to drift back to the coins they like.
Wow good point... still it seems a bit petty as it can cost an investor a lot to move out and back in especially since the bitcoin cash won't be worth much.
July 29, 2017, 11:28:05 AM
Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?
I don't think it is specific to bay. A lot of altcoins are down, with people preferring to hold bitcoins. It has a lot to do with the BTC-BCC fork. Once August 1 and the fork is done and dusted, people are going to drift back to the coins they like.
July 29, 2017, 08:31:49 AM
Freaky to see bay back at 700. Who would seriously consider selling for that given the road map we have planned?
July 28, 2017, 07:15:07 AM
Literally couldn't have said it better myself 
July 28, 2017, 06:54:05 AM
BAY looking superb @ 860 sats.
2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.
The power of a super-dedicated, trustless escrow-based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.
One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:
• it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens
• the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place
• goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).
That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.
* Why can't this be done simply with a token on the Ethereum blockchain ?
• because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base
• because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)
• because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore consistent with its commercial function
In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.
Exellent post toknormal! So good to see someone that knows what he is talking about posting here.
For those of you that get confused by the mentioning of mining, staking is also commonly refered to as mining. But just to be clear, BitBay is a POS coin. More specifically POS3.
July 27, 2017, 11:05:09 PM
BAY looking superb @ 860 sats.
2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.
The power of a super-dedicated, trustless escrow based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.
One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:
• it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens
• the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place
• goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).
That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.
* Why can't this be done simply with a token on the Ethereum blockchain ?
• because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base
• because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)
• because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore compatible with its commercial function
In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.
Wow man this is a really excellent and well thought out post. Thanks. I would actually argue it doesn't have bias either because you talk about the engineering. And I would like to add that one major drawback to Ethereum is if you build a token on it and they face scaling issues your sub token will face the same issues. The reason why I love atomic trading is you can connect chains without needing to bulk up a single chain.
Guys I'm working on the next update for exotic spend and then finally we fork. The marketing crew is still doing solid work and I'm happy to see progress on that front perhaps at some point they can chime in on the matter.
July 27, 2017, 08:16:11 PM
BAY looking superb @ 860 sats.
2017 revaluation consolidating into a hard packed level more than 8 times its speculative trading price over the last 2 years.
The power of a super-dedicated, trustless escrow-based trading facility who's sole objective is to facilitate goods exchanges of any kind, anywhere, anytime with greater reliability than eBay and 1% of the cost will be huge.
One of the reasons I like this asset is because its monetary model is so complimentary to its functional model. In particular:
• it has its own blockchain which means that the monetary base genuinely derives its value from the trading and is not airgapped*. Therefore it's worth investing in, unlike Ethereum tokens
• the monetary model (rolling peg) compliments the commercial model by presenting traders with a stable exchange rate while the goods exchange takes place
• goods trading is inherently integrated with the monetary base in a way that securities trading isn't. For example, in times of old, barter took place in the shadow of some notional value denomination so that traders could determine if they were being over or under sold. (e.g. if they knew the price of a fur in gold and also knew the price of an acre of land, they could barter the fur for the land but still use a notional monetary value to facilitate price discovery: Nº of furs for acres of land).
That is Bitbay's market: goods bartering with a price discovery mechanism. The rolling peg is the genius ingredient because it decouples the conflicting priorities of a stable denomination for the goods exchange and a volatile risk asset that enables non-trading participants to support the value of the denominating currency by investing in it directly.
* Why can't this be done simply with a token on the Ethereum blockchain ?
• because if you're riding the back of a whale and that whale sinks, you sink with it. You therefore can't use an Ethereum token as a monetary base for an escrow-based goods trading platform because of exposure to 3rd markets and consequent loss of price discovery. As an example, look at Populous: its fundamentals have only improved in the last two weeks, yet its price vs BTC or USD has almost halved simply because of its exposure to its monetary base
• because Ether tokens are airgapped from the mining process. Cryptocurrency (as a monetary base) only works because there is a feedback mechanism from the monetary/commercial function to the mining hashpower. If goods trades take place on the BAY platform, hashpower pressure will build under the market peg. That will force the peg to roll at some imminent point. That in turn will encourage more goods trades as people's property is seen to increase in value. That in turn encourages mining. (e.g BAY will rise to 'most profitable' on coinwarz.com as the market pre-empts the peg movement)
• because mined currencies are genuinely decentralised and therefore far off the horizon of regulatory surveillance. (It's much easier to regulate a legal entity that creates 100 million tokens out of the blue and holds them as a corporate asset than it is to justify regulating a decentralised, mined blockchain). Bitbay blockchain is therefore consistent with its commercial function
In other words: Bay is looking bootiful, both monetarily and functionally. The more time goes on, the more it is emerging as having carved out a perfect balance between goods markets, an associated monetary base and a genuinely competitive digital asset in decentralised worldwide trading market.
July 26, 2017, 02:51:39 PM
Yes, i'm interested in the china related news too..... any confirmation yet?
Same here. The suspense is killing me! July 26, 2017, 01:01:55 PM
Yes, i'm interested in the china related news too..... any confirmation yet?
July 25, 2017, 03:46:50 AM
BitBay Community Update - July 24th
● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
I'm really exited about Bay taking an initiative towards china
July 24, 2017, 10:30:44 PM
I was so off with my contest prediction... big mistake
Well who knew that Bitcoin was gonna drag down the entire market overnight? We all knew segwit was locked but I think someone called in a pretty big short on the whole market.
Now that is over it should bounce right back.
July 24, 2017, 04:34:49 PM
BitBay Community Update - July 24th
● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
Just keep rolling out the good news! I love how everything has been progressing recently. ● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
July 24, 2017, 01:24:12 PM
BitBay Community Update - July 24th
● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
● Our marketing team has completed a survey we wish for our community to partake in. This survey will help us better understand the wants and needs of our users. We will provide a 2000 Bay reward for the person who provides the best suggestion regarding BitBay’s future marketing and development!
○ You can take the survey here: https://bitbay.typeform.com/to/RHhm6b
● We’ve added a new member to our marketing team, “little_round”. He is currently working on integrating a simplified text of BitBays biggest features in 2 of the biggest French forum communities, including creating text comparisons of BitBay with other prominent crypto-currencies.
● The development team continues to prep for the next release of Client with checklocktime UI & features. This update will provide the necessary fork to fix the the stake reward to the correct amount!
● Our web developers continue revising the website.
○ New FAQ page is active
○ Fixed Get Started button
○ Installed new analytics to website
○ Added slack invite on homepage
○ Added better spam protection to blogging page
● Our graphic designers are nearly complete with their preliminary updates to the first set of infographics on our bounty list.
● David has sent the necessary documentation and funding to be listed on Cryptopia exchange. Thanks again for everyone that donated!
● We have exciting news in China. Once we have confirmation we will update the community.
● Both our summer projects are progressing. We’ve decided to upgrade the UI of the first project to be released to create a more professional looking layout. This will create a small setback for the release obviously, but we feel it will payoff as ‘first impressions’ means everything.
July 23, 2017, 08:38:36 PM
I was so off with my contest prediction... big mistake
July 23, 2017, 08:33:40 PM
Did anyone win that last 2000 sat contest? so close. It was at 1800 sat when it started. .
The contest is still going on! The price peaked in the 1990s, but never eclipsed 2000 sats . July 22, 2017, 11:33:28 AM
Hi team,
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
Yeah I can't wait to see where we stand once the rolling peg is in place and we are live on the Blocknet decentralized exchange.
Let me paint a picture for you.
Imagine a billionaire invested in bitcoin. In the past if he wanted to hedge against a potential slide in bitcoin price, he'd have the fear of depositing millions of dollars worth of BTC to a centralized exchange (tx fee applies).
Then he has to trade the btc for a pegged coin like tether with the fear that their centralized structure will collapse and his hedge will fail (tx fee applies).
He can then withdraw those tethered coins to a tether wallet if he thinks the bitcoin slump will take some time and he fears holding his tether on a centralized exchange for so long (tx fee applies).
Once he's ready to get back in he reverses the process and remove the BTC back to his personal BTC wallet (3 more tx fees apply)
So a total of 6 tx fees.
Now if he uses blocknet dex and bitbay has implemented the rolling peg. He could literally repeat the same process as above for only 2 tx fees! And those fees are half the amount the exchanges typically charge! And he never gives possession of his money to anyone else in that simplified process!
Every percentage gain helps! If a trader can save a 1/4% profit on fees that is massive in regards to high volume trading!
On top of all of that, he has the potential to make compounding interest in the process because Bitbay's peg is dynamic and price can still fluctuate with minimal volatility.
It's a no brainer really! What's about to come to cryptoland is going to change the way whales trade big money
Sounds very very interesting. Implementation is key. The only issue is too many fighters propping the space up into the financial space. Ripple, DGB, Bitshares, you guys and lots more. Wonder if all with get a piece of the cake . Take an example of the game tokens. Too much of competition. If it would be possible to patent an idea within the block chain space it would be really nice as it would give a particular token a fair price with less volatility. Hope my 2 + 2 made some sense.
Thanks..
Aakeel
Ripple, DBG, Bitshares do not have trustless setups, and of those 3 only bitshares has price stability that is controlled by 50? delegates (which still spells for a sense of centralization due to trusting those delegates that could potentially collude)
BitBay will not only provide price stability, but also trustless environment where 3rd parties are not needed - therefore there is no need for unnecessary fees either.
Because of this BitBay is the only one that can also provide trustless fiat gateway while the others will need to utilize a regulated/centralized in-house or 3rd party service, which equates to even more fees.
July 22, 2017, 10:54:24 AM
Hi team,
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
Yeah I can't wait to see where we stand once the rolling peg is in place and we are live on the Blocknet decentralized exchange.
Let me paint a picture for you.
Imagine a billionaire invested in bitcoin. In the past if he wanted to hedge against a potential slide in bitcoin price, he'd have the fear of depositing millions of dollars worth of BTC to a centralized exchange (tx fee applies).
Then he has to trade the btc for a pegged coin like tether with the fear that their centralized structure will collapse and his hedge will fail (tx fee applies).
He can then withdraw those tethered coins to a tether wallet if he thinks the bitcoin slump will take some time and he fears holding his tether on a centralized exchange for so long (tx fee applies).
Once he's ready to get back in he reverses the process and remove the BTC back to his personal BTC wallet (3 more tx fees apply)
So a total of 6 tx fees.
Now if he uses blocknet dex and bitbay has implemented the rolling peg. He could literally repeat the same process as above for only 2 tx fees! And those fees are half the amount the exchanges typically charge! And he never gives possession of his money to anyone else in that simplified process!
Every percentage gain helps! If a trader can save a 1/4% profit on fees that is massive in regards to high volume trading!
On top of all of that, he has the potential to make compounding interest in the process because Bitbay's peg is dynamic and price can still fluctuate with minimal volatility.
It's a no brainer really! What's about to come to cryptoland is going to change the way whales trade big money
Sounds very very interesting. Implementation is key. The only issue is too many fighters propping the space up into the financial space. Ripple, DGB, Bitshares, you guys and lots more. Wonder if all with get a piece of the cake . Take an example of the game tokens. Too much of competition. If it would be possible to patent an idea within the block chain space it would be really nice as it would give a particular token a fair price with less volatility. Hope my 2 + 2 made some sense.
Thanks..
Aakeel
July 22, 2017, 09:20:16 AM
Hi team,
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
Yeah I can't wait to see where we stand once the rolling peg is in place and we are live on the Blocknet decentralized exchange.
Let me paint a picture for you.
Imagine a billionaire invested in bitcoin. In the past if he wanted to hedge against a potential slide in bitcoin price, he'd have the fear of depositing millions of dollars worth of BTC to a centralized exchange (tx fee applies).
Then he has to trade the btc for a pegged coin like tether with the fear that their centralized structure will collapse and his hedge will fail (tx fee applies).
He can then withdraw those tethered coins to a tether wallet if he thinks the bitcoin slump will take some time and he fears holding his tether on a centralized exchange for so long (tx fee applies).
Once he's ready to get back in he reverses the process and remove the BTC back to his personal BTC wallet (3 more tx fees apply)
So a total of 6 tx fees.
Now if he uses blocknet dex and bitbay has implemented the rolling peg. He could literally repeat the same process as above for only 2 tx fees! And those fees are half the amount the exchanges typically charge! And he never gives possession of his money to anyone else in that simplified process!
Every percentage gain helps! If a trader can save a 1/4% profit on fees that is massive in regards to high volume trading!
On top of all of that, he has the potential to make compounding interest in the process because Bitbay's peg is dynamic and price can still fluctuate with minimal volatility.
It's a no brainer really! What's about to come to cryptoland is going to change the way whales trade big money
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