Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 19. (Read 542196 times)

Not sure why you take it personally as we all are experiencing the same setbacks. Who isn't effected by this? Our entire team is no longer even getting paid except like a couple people. You and everyone here had many opportunities to make a great profit over the past 6-7 years. Some people becoming millionaires from almost nothing. Also you should remember after Bob/Dai/Lin/Gecko left the project in shambles our marketcap was almost nothing and we also had very few exchanges with no volume. And we recovered from that skyrocketing to .5 billion marketcap.

Altcoins are currently demolished from the bear market. Even if we start trading on Latoken again we would need a strategy to expand our liquidity.

So therefore what I mentioned, looking for liquidity providers and exchange partnerships are our best way forward. That includes anything in house which could drive profits or DEX options.

Nobody should be under any illusions, it's very difficult for us when most of the exchanges stole our listing fee. But you know what, if they had actually listed and our users put BTC on those platforms the exchanges would have stolen that too.

This is why the best option is advising multisig exchange and DEX as more secure trading options. Getting a large scale liquidity provider or a series of them can drive up buying power. There are options, we might not succeed but we are still doing better than many other projects that got completely destroyed by the alt crash.

I feel like my only major mistake personally was not cashing out more. If I had taken out a couple million when things were doing well, we wouldn't be in this situation. The problem is many other investors who took their profits didn't really give back to the business that enriched them.

I'm not happy that we are in this situation however consider it is not BitBay that has failed you, it is the Bitcoin/altcoin community that has turned their back on brilliant projects in favor of pumping premined vaporware with their criminal exchange friends who wash trade their garbage. That sucks out all of the honest money. And furthermore its the fault of investors who reward scams. The sheep who don't invest in powerful world changing technology. Bitcoin should have taught people to invest in fully decentralized products but nobody listened and they gave their Bitcoin fortunes to vaporware. It's the fault of the mainstream media who censors projects and promotes vaporware in favor of real tech that they fear as competition. It's the fault of Coinmarketcap and Coingecko for applying new rules to veteran projects and then picking and choosing who they want on the charts, letting some projects break their rules and while CMC deletes our charts every chance they get. Its the fault of exchanges for being too lazy to integrate wonderful cutting edge technology and instead giving the limelight to proven scams (like Qtum)  because they have an insider deal to pump garbage. It's that behavior which led altcoins into a depression, dragging the entire industry of good projects down with the garbage. So BitBay no matter how golden the project is, is not at fault for the actions of the foolish/greedy majority.

It cannot be denied that this project has decentralized markets on the level of TOR security. It can also not be denied that we were the first decentralized peg in the world as well as unbreakable contracts which are a huge benefit to industries without trusted escrow methods (and there are so many). So do we then take away from that technological milestone because it wasn't "popular" enough? Even if we fail, we did the right thing. Isn't the current events of today obvious we live in some sort of draconian 1984 nightmare? Honestly the world is currently like a bad sci-fi novel. BitBay is not at fault. I'm convinced at this point, you could hand people bars of gold and they wouldn't know it's value. We have to find the right people to move this forward from this point.

First off your idle speculation on my actions are BS, I have a right to to ask about my money on any exchange, I never hassled them, I contacted them about once a week, so you should shut the phuq up!! And my recent posts are a reflection of what the Dev wrote, if the Dev believes we need a new exchange it's not a good sign, simple as that. Not to mention that when Bitbay hit the exchange everything was working fine, so why all of sudden it does not work???

@CRYPTONAIRE   Agreed, appearances can be deceiving.

It only appears that way, we have no confirmation as yet.  If they are feeling hassled, I feel sure that it is entirely due to persistent needling by LuckyLeprechaun, who should, if he has any sense, shut the phuq up!!

Personally, I am drawing no conclusions about the situation at Latoken until something definite has been posted here by Mr Zimbeck after he has spoken to them himself.  Until that happens, all is just idle speculation.

That being said, I do agree with Mr Zimbeck's last comment, about considering other exchanges and liquidity providers.  It's never too early to be exploring such options.

Keep the faith everyone.  BitBay is destined to be #1 on CMC and Gecko.

It is not a matter of if, but when!!   

Seems your (Sweat invested) statement turned out to be nothing, Latoken or another will all be the same, 3 exchanges have dropped Bitbay, I see the end in sight for this crypto 

It appears as if LAToken decided it's too much hassle, even though we're almost there and they had already invested so much time.

What's our next step? Anybody?

Jesus! stop behaving like a child. You think Bitbay holders want to read all your wining everyday!?
I expect you don’t even have a top 100 wallet.

Are you saying that Latoken is finished and that we need a new exchange again? So I lose my money in exchange 

The thing is we have seen trading get disabled multiple times. We are in the same boat as the community. Best to plan for other exchanges and liquidity providers.

Would it be possible to have one single designated person (like Shorn or David) contact LAToken every Friday afternoon or Monday morning to get status and post it to Discord, Slack and BitCoinTalk? LAToken isn't going to appreciate it if random investors keep bugging them whenever they feel like it. Please post the name of the single point of contact on all three boards and request that nobody else talk with LAToken. A weekly update about a reliable date and any information about the cause of the delay would be welcome.

Thank you for taking the time to explain all that to me, I understand now. Cheers  

The term "sweat equity" means work that is performed at a discounted pay rate (perhaps even zero) in exchange for a share in potential future profits of a business. A typical high tech start-up has founders and employees. The unpaid work that the founders put in formulating the idea, performing market research, finding a viable niche, doing initial product development, drawing up everything they need to approach vulture capital (think Shark Tank) then doing the VC rounds is considered sweat equity. When they get funding they hire coders that work at a lower rate than usual in exchange for stock options, another form of sweat equity.

I believe it was Shorn who said we have a hard time convincing exchanges to carry BAY because the work necessary to integrate the dynamic peg is several times the amount of work required to integrate most other coins. We paid the up-front integration fee to four exchanges. Three of them accepted the payment and gave us ample reassurances that they would perform the integration. Once they started actual coding, however, they soon realized they really weren't up for all that hard work (poor babies) so they started doing the BS boogie then vanished into the wind. This is the type of situation that LuckyLeprachaun is understandably concerned with.

But LAToken is in the processs of actually performing the agreed upon integration. Our coders say they have been consistently asking detailed questions. And their code seems to actually work correctly (for the most part). LAToken has invested a considerable amount of capable coder hours, so they are definitely motivated to see it through to payoff.


Go to YouTube and search for: latoken davos

LAToken presented the 2019 Blockchain Economic Forum in Davos. Check out the credentials of the speakers. LAToken doesn't have a virtual server on Bluehost. They know the business side. That's why they can grasp the potential of BitBay.

What you mean exactly? They invested in Bitbay? and how do you know what they have invested in?

One difference with LAToken is that they have invested a fair amount of sweat equity; they got skin in the game.

Yeah it's unfortunately something we are always concerned about. Out of 4 exchanges we tried to list, 3 stole our listing fees. I suppose then if we don't have millions to gamble on the top 10 exchanges in liquidity we probably are better off aiding platforms or even something in house. Either way we should look for large scale liquidity providers/angles.

 

Yes me too, just that I have seen many bad exchanges do this exact same bit before they disappear in the wind with our money. That's why I'm worried...

I agree it's especially frustrating. However we are on a tight margin and sort of depending on Latoken to follow through. However they have been responsive so we hope it's resolved shortly.

Thanks for your help, much appreciated.

Relax, your coins are safe. Of course BAY is coming back... after all it is still here after overcoming 5 years worth of obstacles! LA Token is fixing some important bugs, and will reopen trading this week. Your deposits are greyed out because they are fixing a balance issue that effected a handful accounts. Your frozen balance is likely due to the dynamic peg freezing the supply liquidity, which is decided every 200 blocks by the majority vote of users.

You can read more about that here:
https://forum.bitbay.market/t/why-are-my-wallet-balances-always-changing/2242

I have been patiently waiting on exchange, Just checked Latoken and now even deposits are greyed out, seems to be getting worse, starting to wonder if Bitbay is coming back at all, no action on forum for 5 days, my money frozen in exchange, not good signs. Does anyone know what is going on?