Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 253. (Read 542115 times)

Hi Cryptohunter
l have below pic taken almost 3 months old and seems that second address with 60 mil just gone out of radar.
hope this helps to comprehend what was caused this severe price drop.

Best

the thing that worries me about bay is there still could be a whale out there who just wants to destroy this coin. I mean nobody will be dumping this coin to 46 sats right??

I mean that is quite insane. The huge wallets out there ??who has done a history check on those wallets of 20M+

Are any of these vast wallets still in the hands of those that want to crush bay since the start and if they are what will we do about them?

Posting my Forex market predictions on the client now.
Feel free to bet against me if you wish!
Counter-offers are negotiable.

Glad to hear your interest.
Checked out your website. I think you are on the right track. There will be plenty of business in the future for attorneys who know the ins-and-outs of the crypto world. Smart to tap into that market now!


I've got a built-in faucet contract on the client. Feel free to accept it - 1000 free Bays. No coins are needed to accept because it's a guarantor contract and doesn't require DDE.
That's the beauty of the escrow system.
It's completely customizable:
 - The standard is Double Deposit Escrow that match the value of the item for sale.
 - Guarantor contracts are one-sided deposit escrow contracts.The creator of the contract takes the 'majority' of the risk since the counterparty doesn't deposit anything. This set up is perfect for people who don't have any Bays and wish to buy direct through the client. It's recommended to KYC these customers and/or keep the contract size at minimum levels for the sake of security.
 - Custom deposits give you the option to create your own levels both for you and your counterparty. If you don't trust them, jack their end up. If you trust them, lower to a minimum level you feel secure with. If you have complete trust you can void the deposit all together (yet to a level that meets anti-dust protocol for spam protection - this can be a one-sided deposit to cover).

As an attorney, bitcoin attorney, miner and student of crypto I have been watching, investing and studying these matters for over 2 years. Your discussions on this page are some of the most insightful, intelligent, honest and eye opening that I have seen. I applaud your sincerity, honesty and class. I'm going to download this wallet now and purchase. Best:  George D. Greenberg, Esq. www.attorneybitcoin.com

@3r197 dont even get me started on the "DAO"

I mean I'm almost certain they pulled the same trick the Lin+Bob pulled. Consider they claim to raise 100 million but from who?!?

They then immediately have a price drop, does this remind us of a pattern? Yes of course who else would sell below ICO price unless the "DAO"
was bought by Eth devs and other insiders or even worse they kept so many free DAO for themselves.

Instantly it cuts in half in price... not good

Also what does a voting address paid to another address going to do to truly organize a business?

Can the same not also been done with multisig?!!?

Maybe just another example of massive hyperbole, telling people that the blockchain can grant wishes or something... hahaha so ridiculous the claims they make saying what a "DAO" can do. (it even chops your vegetables, mows your lawn and gives you magical powers)

...more cash grabbing by the Eth devs ^

At least Lisk did good, I'm sure a lot of us are happy about that. They were good because they had a proof of existing software before the fundraising (in Lisk) .... unlike the DAO who has no GUI, no software, just peddling dreams.

David's goal is to have everything done by the end of the year. That includes all the market templates, pegging (user value protection - UVP), and python contracts which are similar yet unique to ethereum based programmable contracts.

In the near future? I missed that info. When will the peg take place?

Yea sucks to see some major selling - probably related to Lisk and the stupid "The DAO".
Ether looks to be at a stubborn resistance level as well @ .0241, and could turn south again with the recent BTC rally.

Wish them the best of luck.

Doesn't make sense not to hold till the peg.
With the peg in the near future, it would be wise to accumulate as much as possible now so you could potentially make a nice return simply by staking your coins after the peg and selling 80-90% of the daily stake reward coins back on the market.

It is time to buy a bit more i suppose 

sad to see bay getting crushed down again...

Azure is acting like a gatekeeper. You can see subtle maneuvering in crypto for sure.

I'm not saying Dapps aren't good but I'm saying the method in which decentralized applications is deployed is not a trivial computer science problem.

If it was that easy they would just start "internetcoin" where they put the entire internet on a blockchain. Which obviously doesn't make any sense.

Etherium sandboxes their code, so does Lisk. Which is good in theory. They could attempt methods of compressing and hashing known bits of code on the chain but in the end there is a bloat issue. Who has this kind of bandwidth? It takes me a half an hour to download a 100 megabyte file. Granted my connection is not that fast but we have to find a peer to peer solution. (maybe a lightning network)

In any case, the critical question remains: Blockchains are about store of funds and notary, what else truly belongs there?

Sidechains are good in theory. But the reason in my opinion they work is because they remove the risk of running some obscure application that could lose your funds to the peers.
So the peers might be able to take the risk instead of the miners and the entire network.

And I'm not sure the best proposal has been put forward yet. Ethereum will be a good test ground for what does and doesn't work.

Regardless, not everything can be on a blockchain because you can't download all of youtube to watch a single video, nor should you be forced to download an entire website to view a single page.
Nor should that burden be placed on all peers to verify if you visited the webpage, clicked on a button and so forth.

There is some fundamentals which Bitcoin is missing that Ethereum does have. For example, a better scripting system. Thats great and I think bitcoins scripting is very limiting. Things like lightning networks, pegging tools like we are doing here, sidechains and even pre-approved contracts(which ive yet to see any coin do)... are all good ideas. Tokens are interesting if you can get courts to honor the notary which i highly doubt.

In any case these are complex computer science problems that are not solved by simply putting everything on a blockchain. Otherwise, there is simply hype for the sake of marketing a protocol. And then the protocol becomes less important that the marketing.

Man you are preaching to the choir. I think its because the market is still obsessed with "pump and dump". People just jump on the "bandwagon" of any new coin. Because they are only hoping to sell it for more than they bought it. Because the market is still driven by greed. Like a game with money in a sense.

People aren't looking at the technology yet. Or else why is Dogecoin top 10 crypto for years? What technological benefit would one gain by holding Doge?

The masses do not see how crypto benefits them (YET)

However there is a hope here that the masses will eventually notice crypto and when they do, it won't be about "Dogecoin" or "Kittycoin", it will be about what can they do with the software and technology.

Most of the people involved in BitBay are early, they know what is being worked on. The key is to help other investors also understand what is going on here and this might be achieved by marketing and finding people who also see the ideology in the project.

As we know, the masses are usually not motivated by ideology so for the rest there is only marketing. Which in the case here might come in phases as the software continues to release more features.

Although we already have so many features! So for now we have more than enough to show others about what the software has the potential to do.

Interesting, but in any case, we would want to open source when complete. If I publish any sort of source other than the OBF package, coders will probably just want to refactor, take the parts they find beneficial and I'm not sure where that benefits us.

Perhaps best to just wait until the software is totally perfect to our liking and then open source.

Dapps are mostly hype. For what reason does an application need to be on a blockchain?

The whole idea that "everything needs to be on a blockchain" is totally ridiculous. I guess when your solution is a hammer, every problem looks like a nail.

Blockchains are for notary and banking and hashing almost exclusively. Apps function fine without existing on a chain and to put apps on a chain only bloats it.

Which is why the whole thing with Etherium is just a cash grab and I refuse to support that level of hype and greed. Regardless of whatever progress they make.
Even if they do develop into a good platform, there will be tremendous bloat issues that can only be solved by centralization. Because they are putting too much on the blockchain.

And they know it.

Lisk has a better approach of sidechains. But why would Bitbay be a sidechain of Lisk? That doesn't make any sense.
Bitbay already exists, what would this accomplish? Except make us look weak.

You still need a blockchain to store value, what difference does it make if its a sidechain? Again, more techno-babble to confuse the masses and take their money.
Sidechains may suffer from less nodes or more regulation from the parent chain.

Sidechains really only are needed for business applications where the user puts risk in the chain because the chances are is the sidechain would be centralized or with fewer peers.
So in that sense I support Lisk and similar concepts to move the risk off the miners and on to end users.

Also, why degrade this project to be some arm of Etherium which has not only proven itself to be driven by greed, and immense speculation but vaporware mostly considering they are overpromising tech
to dazzle the masses. Then repackaging that tech as a dapp and fundraising again. It almosts makes me think that modern business is ONLY about marketing.

Or perhaps we should start "governmentcoin" where everyone can be on one blockchain that is government regulated and your taxes are automatically taken out and you social security is replaced with a private
key and they can deactivate your key if you break one of the 10 million laws they have.

I dont know, please excuse my comment but Dapps are not the future. Decentralized banking is.




In any case, thanks for your kind words, although it might seem like an art, the technology used to do what we do is very complex and requires a lot of work. Much like the engine of a car.

strange to see both sys and bay losing ground lately. So many inferior coins rising above both projects. I mean bay is crazy undervalued and even sys should be higher. I still much prefer bay though and have no idea why this coin is not top 20 already.

What about the MIT licensed source code like Bitshares did?

Hey guys! Just wanted to give a shout out... Any help with testing out the client is much appreciated. Currently our main focus is the new beta release of the MAC and Linux OS based clients. But I don't want to sound like I'm excluding Windows users! So if you are simply lurking and don't have any BitBays, that doesn't mean you can't test the system. I currently have  a BitBay faucet in place in the form of a guarantor contract. Guarantor contracts are designed so new users can buy Bay's (or any currency for that matter) without the need for the buyer to deposit anything in escrow.
So the current faucet on the marketplace is obviously completely free - 1000 coins per user and limited to 1 contract per user. So if you haven't already downloaded the client, you can do so at bitbay.market or this thread's OP.

The faucet is the perfect opportunity for you to learn how the contract process works. If you have any issues when we are in contract, I can chat with you though the bitmessage encrypted escrow negotiation/messaging box.

Looking forward to seeing you in the marketplace!

To add to this Sid, if you ever need some ideas to borrow for your client let me know(I would love to borrow from other projects but I'm up to my neck in coding work and have had to turn down a lot of work just to finish what I've got on my plate). Its in python but I can explain how I approached solving certain things.

For example, PyQT has a "translate" option that it automatically puts in the UI when you build it from QT designer. Although those UI files can get fairly huge, and very redundant (Designer just makes the UI from a script but the code can be condensed at least 50% with a few days of work). I wasn't able to figure out how translate was anything automatically but manually from a strings database. Which we obviously did not have funds for.

SO, I redefined the translate function to pull from a translations file. The file translates LIVE off Google translate as the UI loads text. This meant that I had to change the Dialog Boxes to be a custom Question Box in my main Halo source so it also used my Google translator.

The last step was simply adding a simple UI for editing the translations... so that users can correct them and submit their corrections!

The result? 92 languages for all Halo products.

If you ever do translations, I recommend that approach and yet, I've never seen any software ever use that (what I thought was) simple step.

Also, steganography can be done with the Stepic library. I'm sure c++ also has it. Just remember to use Bitmaps or PNG as Jpeg gets recompressed a lot. If you are emailing the images, only use Bitmap for Base58

And hopefully eventually you will add DDE with CLTV as an option. Not to give you a bigger work load, as scope creep is a bitch that can kill a project, but I personally think its worth it.

Like sirlose said, there are other features... I even recently just added a live debugger which allows me to put "exec" statements and use the python interpreter as the code runs. An easy but useful addition for troubleshooting. Only for coders or advanced users but you can definitely use it to communicate the the blockchain too if you know the source.

Hey thanks for the input, the guys made the chart back a few days ago and shared it on slack, the community does their own thing at times albeit the decentralized nature of managing a project like this. Hope you don't mind, I think they made it based on the one you posted in the thread they made.

I can state that there is moderation keys in Bay for banning everything from IP, to unique IDS, to encrypted IP address banning (I don't share my decrypt key but there is one)

Removing entire markets is possible but they are easy to start as they are to remove.

However putting moderation layer side by side would make sense. Since we both have one. There are two mod keys in Bitbay transforming the client to mod version.

Bitbay will roll forward Bitcoin core improvements if Blackcoin does. I did see some core staging on rat4s branch. However, you might be more on the ball with that as I tend to ignore the c++ side of things.
Bitbay doesn't re-use public keys for Bitcoin addresses. HOWEVER, BitHalo and BlackHalo and Bitbay can all use the same keys. And they are multisig. So switching from one account to another is trivial.

Paying in BTC for items is easy, as it can be specified in the contract. That would be more conducive to a barter contract although Sys UI is clearly different and made to encourage the BTC payment alternatives where Bitbay is strictly encouraging Bay.

Unless I add BitBay to BitHalo... which might happen if the pegging goes well and volume picks up. People might use BB over BH anyways because of the stability in pegs and price growth. That is sort of an unknown.


As for your block market and bidirectional gateways and e-commerce plugins we definitely don't have that and I will probably never have the time to add that. So thats definitely something Sys has.
I remember when you used to talk about that. It was cool and I'm glad to see someone has been doing that.