Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 183. (Read 542140 times)

this is what i've been saying deep pocket whales want to know who behind this project without go digging around. at this point we still don't know who behind it.

hey

where can i find information about the dev team (size and so on) and how the project is funded?
was not able to find anything in op and off website

thanks

No I don't think you are understanding how these contracts work. They are unbreakable. Double deposit is simultaneous deposits by both sides and the payment for goods and services is advanced as well. So there is no way for either side to void a contract. Everything requires mutual consent or both parties lose funds

Great video. Keep them coming

Awesome thanks for the coverage! 

BitBay featured in episode 4 of the Crypto Times:

https://www.youtube.com/watch?v=X5dP2Xh2eDk

Glad to be a part of your project

This is a generic Bitcoin issue... so start by reading this thread:
https://bitcointalksearch.org/topic/error-reading-walletdat-1290416

typo sry

Bitpay? Is that a typo or your folder actually looks like that?

Hi
Got a problem with BitBay wallet. I actually thought i lost it after buying a new computer and forgetting to save the backup, but I think i have found the original wallet.dat. I download the newest qt wallet and replaced the wallet.dat with the old one in appdata/roaming/bitpay/ but i am getting this error -

 Warning: error reading wallet.dat! All keys read correctly, but transaction data or address book entries might be missing or incorrect.
and the client fails to start.

Any ideas?
tks

Well, crypto is all about "programmable money" but almost no coin is taking advantage of that. Bitcoin is too basic to be effective as a currency. BitBay has the rolling decentralized peg which creates different speeds of liquid funds. It will be done later this year. We feel like this will redefine money.

Add to the fact that we have unbreakable contracts which I could and have talked about for hours at a time. The ways in which unbreakable contracts revolutionizes law and not to mention international business is one that not even Ethereum can do better.

And lastly we were the worlds first decentralized markets a whole year ahead of Open Bazaar.

So honestly not sure why this coin isn't in the top 10. I guess investors just don't realize it. But will one day... at least thats what we are counting on.

Avast has a history of being unreasonable with Python. I submitted a ticket to them. They must have updated their algorithm in their last update because Craig says it effects the older builds too. Probably just add to exceptions for now. You can always build from source code too.

Hey I checked and nothing changed in this build. I reverted to how I used to elevate to admin and that was the only change which never used to trip up avast.

However avast has been the most obnoxious one. We have sent a ticket to them in the past. Some antivirus doesn't like frozen python which is sort of funny because its open source when its python because the interpreter is built into the exe. You would think its safer.

So you can still probably get this build to run just have avast put it on your exception list and run as admin. I will look at this.

I should specify that in the BitBay Lite, in order to initiate the contract, the buyer would have to pay immediately.  Otherwise, they would be able to initiate and void contracts for low costs that would cost the seller large amounts of money.

I think comparing it to eBay isn't the right move for now.  Down the line, sure, but right now don't target eBay users.  Target people using Bitcoin to buy things, because those are the people who would be willing to put in the extra 15 minutes needed to use this compared to what they're currently doing.  The eBay audience would have to put in a lot more effort to make the switch to using this.

The 'BitBay Lite' can be the exact same client software, but with a different skin, so it's super easy to make from what currently exists.  If you're looking for something to add, add on something that would make it easier for sellers to use, like a way to organize orders, shipping addresses, and the order status.  We already have a reason for buyers to want to use it, so now we need to make sellers really WANT to use it.

The fee to fund the upkeep would still be nothing compared to Ebay and such, because the system could remain highly automated and trustless on a peer to peer level with the DDE.

Yeah that's the beauty of this. If people want an easy button we could utilize a website with bitbay running under the hood. Sure it would be running on servers and centralized, but for those that don't care, it's definitely worth the effort to give it to them.
But yeah that's still down the road. Once core build is complete, marketing and tech funding should make it easy to integrate such a system.

I think you are on to something
Adding a lite build may be a problem though because it's scope creep. We have more than enough scope creep as is. But maybe we could solve it with good instructions/graphics/videos instead that target that specific use case.

Sounds good.  In the meantime, I have a ton of ideas about marketing.

I talked about some on Reddit, but the overview is that in order to get people to start using it there needs to be a small target market.  For that market, BitBay trades need to be as easy as the current trades, but offer something more.  I know several markets that operate exclusively on bitcoin/western union sales.  The problem is there is no protection for the buyer, and it's very easy for the sellers to scam.  We can pitch BitBay to these markets as an option for safe bitcoin sales for buyers.  Little do they know that they're actually stimulating the Bay economy and growing the popularity.  Soon, they'll bring it to other markets, and it'll grow further. 


Things that will aid in the adoption of BitBay by these markets:

1. Making it as easy to use BitBay from Bitcoin as possible.  The fewer steps needed, the more likely people are to use it.

2. Convincing buyers about how this works.  Some simple graphics that can be used to explain why BitBay is better than Bitcoin in a pitch to the target market will be super helpful.

3. Possibly having a 'BitBay Lite' download that would be impossible to mess up for the target market.  Like no unnecessary features, and so intuitive that an 8th grader could use it with ease.  This would be exclusively for contracts where one person is paying with coins and one person sends a good outside of the BitBay client.

4. Having the 'BitBay Lite' have preset values that favor the buyer compared to the current system.  I can get into the details if you want, but people would like it most if the buyer's reserve was ~0.5x the contract value, and the seller's reserve was ~1.5x the contract value.



This is just an idea to get people to start using it on a pretty small scale.  It would be very minimal, very targeted marketing.  However, I can guarantee it is SIGNIFICANTLY more effective than more generalized marketing, long term.  This concept is a home-run and a half, but if grassroots groups don't start using it you can be sure it won't gain any widespread traction.  The same thing happened with Bitcoin.  It took very small circles using it for it to gain any popularity. 

Let me know what you think.

Great, looking forward to it.  I've heard nothing but good things about David.