Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 246. (Read 542225 times)

True I actually agree with everything you say here. It was extremely irresponsible to investors what they did with DAO and did with pumping.

We are doing it the right way, less volume now, we market a completed product that we test and can be proud of.

However from a greed perspective ETH did everything to try and be a media darling and shake investors for money. Market first code later.

It's a matter of principal. And we still have tons of room to market and grow.

I don't agree Etherum got it right unless you'r talking about p&d or devs getting rich. We are all working on software that is supposed to handle peoples money. That means we have to get it right first, and then market it. The damage that Eth has done to itself will be very hard to fix. Whales keeping Eth price at artificial high level after disaster only has effect amongst traders hoping to get rich. It has no relevance for adoption amongst ordinary people and businesses, and I can't see why they would use a coin with a dev team that is so reckless.
That said, I totally agree marketing is just as (or more) important as developing. We even have a marketing tool built into our client, the pay to mail feature.

BitBay is the only coin (that I know of) that isn't dependent on exchanges for people to buy it. Read this article on our site http://bitbay.market/bitbay-has-solved-the-last-mile/ and you'll see what I mean.

I might add that no centralized entity will ever become competition for BitBay (through duplication) because BitBay is a 'not-for-profit' protocol. Amazon, Ebay, Google, Etsy, etc... all have profit as their main source of motivation. This fact alone is a huge game changer and will never be trumped because it's simply not profitable to try and trump it!

The last time I sold something on ebay I had to fork out almost 10% in fees to the company after selling my item; it was a $6,600.00 piece of camera equipment. Did I get a reduced fee for selling such a high dollar item - hell no! Ebay took over 600 dollars out of my paypal account.
With BitBay the merchants keep ALL the profit! The only fee involved with BitBay is the standard bitcoin protocol for a transaction fee that supports the miners that secure the blockchain - we are talking a fraction of a penny per dollar. And if you take in consideration that if you are staking your coins you are going to easily earn more BitBay than any transaction fee applied to your various items bought or sold. So it's actually more than free, it rewards you and pays you for supporting and investing in it.

Still collecting BitBay after hearing about in a year ago.  I am in it for the longterm because I am a 15 year Ebay seller ready to make the break!  Nice job dev, good luck to everyone.

Good question! Well first of all, if EBay adds Bitcoin we still offer a different advantage over them because we use unbreakable contracts using double deposit escrow. That's a huge advantage. Also Halo and Bitbay have the best wallet security of any coin. Since all accounts are multisig and you can pay using a cold wallet by using two computers to sign transactions and store your keys in images it's great for people who live in areas without trust.

Realize in 3rd world countries they have no trust. Even packages get taken. However with double deposit they now have a way to trust each other regardless of if they live in a democracy, kingdom, dictatorship, or anarchy.

This does require education and the only way that happens is exposing them to Bitbay.

The good news is, Bitbay is the ONLY software that translates to 92 languages love in the software. So anyone can read instructions on how to use this programs, the smart contracts and the markets.

The rest is simply marketing.

I agree. Ethereum did marketing before development. I did development before marketing. Was it a mistake? I don't know. However we can bridge that gap. We need bots and PR and community growth. The question is when do we do it and what do we start with. I was thinking get a few articles written.

NightTrader would automate it. But yeah it can be done. You just trade any coin for any other coin. You use DDE to simply allow micropayment channel. Then because the two chains are unrelated it's as anonymous as switching accounts. They give you BTC for Doge for example with Bay as deposit. Now you guys are on a new chain. It's like switching alibi's.

I've tried to read some of the posts, I can see that the developers are devoted to this project and are very keen on making it successful but one thing I noted here is that you guys don't talk about the marketing side of it, no matter how solid a project is if nobody is out there to use it the effort invested into it will not be rewarded. I read a post that the developer of Bitbay developed smart contract ahead of Ethereum but to me Ethereum guys get this right because they got marketing/publicity side of their project right and they become successful. I have no doubt there is a market gap for Bitbay to fill but we need to understand that marketing a product is a important as developing it if not more important.

I've saw where you briefly mention cross chain before - I think it was in the Documentation file in the Help tab of the Client.

Could you better explain how this cross chain system could work?

I think you mentioned that cross chaining would actually be more anon than any other coins current anon feature.
Is it only possible with Night Trader?

Lol, good point. I've always wondered what they do to cover that loop hole. In the end your anon status is worthless if you want to use your coins to purchase goods with it. Got to send it somewhere with your name attached.

I believe we have a way to draw people to the market place. Just waiting for the new templates...

Thanks for you reply David. Yes, recognition is the only thing bay lacks really. If only we could think of a great way to get people to try out and use the bay market place.

There may be but Monero is just a fad pump. They are on cryptonote a different protocol. Plus Bitcoin is already anonymous. Accounts don't have names. If you use a dark market with an anon address but send your mailing address it just killed your anon!! Much bigger risk there. Otherwise the deal is private and there is no need to worry.

Plus to be anon just exchange coins on an exchange withdraw to a new address. Or use double deposit to trade cross chain.

But still, sure I want more anon functions. Maybe we can use another coins anon feature when we finish.

Also I doubt an anon feature would get a price rise. We have smart contracts and decentralized markets and still no price rise.

Is Dogecoin better than Bitbay?? Absolutely not. It's almost sick that this coin isn't higher with the hundreds of features we have. But that is just the way things are for now. When we finish everything the coin pegs and the supply can reflect volume.

I think polo will list bay when it becomes apparent no other coins can provide what bay can provide in such a efficient manner.

Is there no way david of making bitbay tokens ringsig based for the entire marketplace to become private?? or is this not essential or advisable?

Hey David,

I've been busy researching bitmessage
@ their forum - https://bitmessage.org/forum/index.php/topic,2768.0.html
and reddit - https://pay.reddit.com/r/bitmessage/

Most of it's over my head, but the possibilities bitmessage can provide seem 'mind-blowing'
Had a few questions on the matter...
 - It's obvious the crypto community at a whole has a high demand for 100% complete anonymity. People talk of these bitcoin coin-mixers that somehow wash you fingerprints off your stash (at a risk),  and it seems the debate over whether Dash or Monero are the anon kings is currently at an all time high of interest. My question is... with the decentralized, trustless, anonymous aspect bitmessage provides for BitBay's client, is there any other option we are possibly missing that could add even more anonymity to the client? With bitmessage and the bitbay client, wouldn't some sort of coin mixer be possible? Or is that something you plan to save for the Night Trader exchange? Or maybe you could better explain the potential possibilities with your upcoming release of a Tor setting built into the client? I mean correct me if I'm wrong, but isn't bitmessage already similar to a ring signature setup since no one can determine who the originator of the message is from inside the network?, so wouldn't the same go with the coins involved as well?

 - Also, I didn't know if you've seen this link yet. It's from one of the head moderators at bitmessage forum: http://bitm.sg/?menu=bitmessage
There is all sorts of goodies inside. I never knew about binsend and bitcrypt. Seems like there would be lots of potential with binsend and your future programmable python smart contracts that are not secured by blockchain (due to not wanting to bloat the chain)?

Would love some clarity on the matter as I'm not techie enough to completely understand all of the possibilities BitBay has to offer.

Not with the hoarding that is going on here and no buying nor selling. Poloniex are looking for volume coins not 0.5btc max a day coins. Try staying in the top 3 of bittrex for a few months and then hit the twitter and slack etc. Good luck, my couple of million hide in my image but client deleted from my computer. Maybe one day I come back and treat David to a beer for his hard work and allowing me to buy new car?

So many possiblities with bay. When will people wake up to this project.

We make it even better.
Imagine if you have Dash or Monero (or any coin for that matter).
In essence, you could use our marketplace to finally utilize your "other" coins in a safe trustless environment.
Granted to remain trustless, it would require some BitBay, as BitBays are used for the double deposit escrow program - which enforces counterparties to be honest.
But for example, let's say you hold a bag of monero, yet you typically only buy and sell items on Ebay for less than 100 dollars, then all you would need is 100 dollars worth of BitBay. Then you could create or join a "Monero" bitmessage backed marketplace (or Dash, Pinkcoin, Doge, etc...), and other monero holders could join that same marketplace channel and you can trade back and forth using your Monero as the coin of purchasing power and BitBay as the coin for transaction security.
Again, finally... every crypto coin in existence has a way to trade their coins (or items for their coins) in a safe, secure, trustless environment.
If you want a more private environment, you can simply create any marketplace you wish, for example, "iUkiqFUsTciMsBdnYETgE2DMg4k3fMdP"
I'd say that's a name of a marketplace that no one will just randomly stumble upon if they are bored and trying to find other markets to join!
Now with that marketplace created, you could post items for sell on it, then with the use of BitBay's client, you could email your potential customers the name of the marketplace. You can do this through the safety of the client with its Pay-to-email feature. BitBay's Pay-to-Email is powered by bitmessage protocol and security. https://bitmessage.org/wiki/Main_Page
So in essence, you could send your clientele emails through the client, with minimal BitBay's (send them 1 BitBay for example - (mainly for transaction fees to miners)) and even password protect the email. So then you could utilize another means of communication to send them the password for them to open the email you sent - kind of like a 2FA feature. Once they open the email, they could see your marketplace you created, join it, and trade with you in Monero, Dash, etc., with the privacy of your choosing!

The possibilities with BitBay are amazing! David's goal is to have everything complete before the end of the 1st qtr of next year.

Have you been reading the thread? Of course there is active developement. I'm the developer. I'm also the developer of BitHalo/BlackHalo (www.BitHalo.org) which was the worlds first smart contracting platform years before Ethereum. Also we had decentralized markets on year ahead of syscoin and one year ahead of Open Bazaar. So also, the worlds first. So I'm not sure I would call it an "alternative". Its built on Bitmessage, so its P2P and not blockchain based which makes it much more anonymous (arguably more than Tor) and doesn't have the issues of bloat. If you read up, you will see there is 20-30 more little features built in to Halo. I've been working on it for 3 years at least. It doesn't get the media attention ETH does because I'm working alone without a marketing team. Despite that, we had smart contracts which are totally unbreakable using deposits on the BITCOIN blockchain years before proposals like Rootstock or others.

So yeah download the client and see for yourself. The guys here would be happy to test contracts with you.