if even one or two wales took notice and realised the potential of bay and took a lot of the weaker hands and dumpers/churners out this would find a base of 1000 sats. After that it would gain at least some attention and additional usage. Whales are not always for short term at all. Some btc whales adopt other worthy projects and keep with that project. Watching the bay market I see a lot of strong hands but many people are churning over for mini profits. It does look though like they keep buying in again with those profits so are gradually taking more bay off of the market.
whales could bring us to top 25 cmc and if you watch a lot of threads on the main alt board as I do long term hodlers mostly only look at the top 10 or top 20 for long term. People there asking for best coin under 1M cap are looking for quick profits in and out.
When people start to use bay as an alternative to an exchange to get into crypto that will be usefull tool.
I am away currently and have not really had much time to use my main trading machines so ive not fired up the market place for a while.
Any run down on just how the paypal to bay unbreakable contract works? sounds interesting.. what prevents them charging back weeks later?
You may be right to some extent but, the true purpose and value of a project is not determined by the holders or traders. It is determined by the users. I see great long term value in BAY, the short term will do as the market wishes but, years from now, BAY should be going strong as a useful application, not a speculative venture. That is where I have set my sights.
I couldn't agree more.
However there is a fast track to what you want and a slow track. With the slow track you are risking more competition and possible copy cat teams outpacing us. Bay lacks only user base and raw development speed. David is obviously a fantastic coder/designer and person. With a team behind him to do the things he can delegate tasks we would may be finished by now and even adding a lot of extra features.
A lot of whales out there are not pump and dumpers only. They are invested in the entire crypto scene and many other areas. Many own all the top crypto news sites and many many other very useful tools to a crypto project. Along with the pegging which stops whale dumping damage and control.
If we had had a couple of influential whales with us that believed in the project from the start who knows where bay could be now.
So many inferior projects beat down much better projects through their contacts and financial backing.
Luckily for us there is nothing exactly like bay out there (yet and hopefully not for a while) so we can may be keep on with the pace we are and still eventually reach the heights the project deserves to reach on pure merit without getting copied and over taken. I though would not at all mind a serious whale or two to give us a leg up to some decent converage, and a more sensible price so that we can fund all kinds of things even now bay at 1000 -20000 sats. Really to just take off a bit of the constant churning volume would be amazing. If I had even a spare 250 BTC I think bay would soar in market cap and interest in the community. It would spiral. So many churners between 100 and 200 sats it's bogging us down. Suretha if we increase our userbase then these churners will be forced up higher and higher.
It's great to be firmly inside the top 100 though and I hope minimum bay will be firm and stable in the top 20 by the end of the year even at this slowly slowly market penetration rate.
The people that destroyed the project were not really whales as such they were more scammers that are now whales since they extracted their btc from this project and dumped their bays destroying both the development fund and the bay market for years with dumping it down over and over.
I have no doubt david will create one of if not the best project on this board the issue is everyone else is watching and trying to outpace us. Hence why before I suggested another ICO months ago ( i see now many projects have done this) to get attention (people will examine the marketplace and the pegging in detail before investing garnering a lot of attention and likely a lot of publications and free marketing) I guess the time for this idea has passed now since people are a bit jaded on ICOs and especially 2nd ICO's. Failing that the financial support and connections some BTC whales have (these connections are vast and create a lot of buzz and marketing) could have really boosted us forward.
Anyway everything is going great as it is so this is a positive time for BAY and success will come either rapidly or steadily. I'm not even considering looking at opening my cold wallets until top10. Even then only if it is essential and I need funds for anything specific. I'm hoping with a decentralised market place and no need at all for centralised enforcement or penalties along with the peg this could and should be massive. With just a few highly reliable bay merchants for inputting fiat then the entire thing is self sufficient and has crazy potential. I know some regard it as a pipe dream but even a 1 or 10Bn market cap is not at all large for such possibilities.... only time is the factor for bay and will others try to clone and beat us to the end.
