Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 20. (Read 542037 times)

Could somebody post a notice here every time LAToken goes offline or comes back online? Thanks

Thank you for explaining it to me, I now understand, I just have to judge the Bay price by the BayR. Cheers

You can now install the BitBay Qt wallet on a Pi computer!

Download the latest Qt for 64 bit machines directly from our official GitHub release:

https://github.com/bitbaymarket/bitbay-core/releases/download/v3.0.2b/bitbayd_linux64arm.tgz

For any support issues please visit our Discord server and post in the #support channel 

When you send BAYR it takes one month. When it arrives at the exchange it might still be BAYR and you can trade it on the BAYR orderbook. Sending BAYR doesn't change it's array of liquidity shards. After a one month lock the liquidity of ANY input is going to be based on the array of liquidity shards and the supply index. It could partially convert to BAY depending on the supply index (if inflation happened)

This is an effect to all users equally. If you are waiting for BAYR to convert to BAY then that happens during a supply increase and that can not be predicted. It only happens when users vote for inflation which they have not because they prefer to hit the higher price target.

Now if you are saying that your deposit didn't even register thats another thing and then just PM me with the screenshot of your account and deposit txid and we can check it.

I think you just don't understand how it works. I'm not sure i know exactly and I have been asking a lot of questions about how the exchange treats different coins.
You seem to be thinking yiour liquid coins that you sent to latoken that turned into reserve will go liquid again in one month?
They will not.
They will remain reserve until the target is reached.
This does not matter you can sell them on the reserve market.

Better to understand you have 2 coins.
Most of your reserve will remain reserve until adoption kicks off. Or demand kicks in. This is fine.
As adoption and use requires them to be liquid they will go liquid.
The supply matches the demand. Bay you can consider starts from now.

This is an amazing design. Once you understand it and the implications it is brilliant.
If you want your Bay to be liquid to get the 10000% sudden jump from bottom then we need to build genuine demand
Or sell at reserve prices that are way up from the double digit sats some eager dumpers scooped them up for

If it helps consider your Bay to be bayR
Save them or sell them.

Or it is possible you mean something else.

I think most should view their old Bay ad bayR for now. Focus on that market for selling in and out.
The default target is perhaps a little high considering the state of the entire alt market and the aweness Bay has
It is set low if you understand what you sre getting.
I mean I want to sell a huge bunch of my bitbay at liquid price. Since I could get 10x more reserve.
When the market place gets even tiny adoption you will need a cap of billions just to provide enough for the DDE


Need more coders and such to speed this up but then who can you trust not to rip Bay design off.
Just a couple of hardcore coders designers  who believe in bay and would work for Bay or bayR should not be that hard to find. You would imagine but the world is a strange place.

Slick android ios web market place easy to list easy to order. Would be huge. Then build some futures gambling apps on top of Bay. The UX is critical.

Thanks for the tip, but I have said my bit, not trying to bad mouth the Dev or project, just expressing my frustration.

@LuckyLeprachaun  go to the support channel in discord. The devs and community can probably help you there.

Was chatting with Latoken about the 30 day hold on reserve funds, mine has been in exchange since 25th February, way over the 30 day supposed limit, they told me to talk to dev of BAY and they had no idea when all or some would go liquid again, I run on small float need money to keep trading now most of cash trapped In reserve seems unfair, can anyone clarify please?   

Now you can probably deposit if you have more than 100 unfrozen coins.

The core client is bitbayd (https://github.com/bitbaymarket/bitbay-core-peg). It is of version 2.1.3 in your latest release 3.0.2 as well as sources published there. Also it seems that even in version 3.0.1 it doesn't contain any API commands for the latest added functionality. All coins are frozen and as a result the daemon is nonfunctional.

Could somebody please let us know when we can deposit to LAToken again?

sorry, generally core client = qt wallet

Yep, I probably will use it as a savings acc

thanks for your time

@marecek666 - Hi. I have no idea what a "core" client is. All we have is a Market Client and a Qt Wallet.

You could use the Market Clients "Buy/Sell Coins" to move and use what you do have access to;
or sell them on LAToken as "Reserve" coins or as "Liquid" coins - when they are released as the %supply increases.

OR... Use your modest investment as a savings account!
Sooner or later, the people will come, volume and supply will pick up and it will be much easier to trade your liquid coins.

sorry I do not use market client, I use latest core client and I wonder that I have no access to my coins. I do not want to stake (that is why I do not unlock wallet for staking after the wallet start). I only want to know how to move my coins, almost all my balance is in reserve more than a month (after the last POS block generated by my wallet) and I am able to send only a smaller part (several BAYs) of it. It is not very much (total 6200+ BAYs in my wallet) so there is no chance to influence any market from my side.
So eg. how to move and use my balance in Marketplace Client?

You are welcome Lucky.
No. Frozen coins have a ton of value - especially if you are staking. They earn interest. Like a savings account.
And, just like a savings account, we want you to use it as a savings account; as well as a checking account (MarketPlace)
Hence, savings accounts (frozen coin) make more interest than a regular checking account (liquid coin). The same principle applies here.

Your coins are not actually Frozen, unless you freeze them.
Your coins have been moved to a "reserve" status because the supply% available is limiting your access. It is protecting the price.
The "supply" is being influenced by our democratically voting to do so. The majority is ruling and we have spoken. This is want we want.
BAY is meant to be a store of value (resistant to the manipulators) and stability (when the Marketplace really gets ramped up).

Hence, if you want to "play the market" and sell and buy on the pumps and dumps; then no, BAY is not for you.
This is for investors who crave stability, decentralization, security and this: https://bitbay.market/wall-of-features/

The bright side is you have over 5,300 other coins to play with - I would suggest you do that, let us enjoy what we have created, sell your coins as they become available - and move on.
Cheers!

This is a fake market for sure. It has no value if you are not able to transfer your own coins anywhere. Almost everything is locked in my wallet for 37 days now, I have locked wallet (no staking=no new blocks more than a month) and I still do not have my balance free for transfer. I invested some money into this great project but I have not thought that devs will introduce a PEG in this way.

Thanks for getting back to me. So basically frozen coins have almost no value and leaves no access to your cash, been over 1 month now frozen yet on your link says 30 days only, they froze 99% of my assets, not liking this system.

"Latoken disables deposits when they work on maintenance..." - D Zim. (Today at 10:26:39 AM)

I have a question, why is the reserve price on LATOKEN way lower then the liquid bay? I thought the reserve was supposed to be higher? 

With disabled deposit I consider it a fake market.