BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 268.

dzimbeck

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Quote from: BitBaydev on December 12, 2014, 07:45:09 AM

So many FUDs in the old thread, to protect our investor and Bitbay Project, we have to start this Self-moderated thread.
(...)

Quote from: ?? on ??

The other thread was also Self Moderated...

Quote from: ?? on ??

(...)

Bobsurplus has controlled the BitBay Team bitcointalk account and this thread(https://bitcointalksearch.org/topic/bitbay-decentralized-marketplacesmart-contractsiot-techmarkets-open-850267)! and he want to dump the price to 20sats and pump this to 100 sats again. that's the reason why he keep FUDs this. The most evil people we have ever met is Bobsurplus.But he has been kicked out from the team completely!

(...)

How did those coinkilling posts make it past the moderator?

Looks like a cool coin.

Might buy some.

Well the question is, should we moderate out the fact that this guy and his partners had sabotaged development? Maybe but it helps show what went on exactly.

All someone needs to do is download the bitbay market client and see for themselves. Its totally unique code and has all the features it claims to have. Actions always speak louder.

dzimbeck

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Quote from: Bitcat on March 13, 2016, 03:55:10 AM

Hi guys, I've been reading this thread with interest and it's a real shame that BAY hasn't been getting the attention it deserves. The hype surrounding ETH is pretty staggering considering the technical issues surrounding it. I still can't get the wallet / app thing to work! However, no problems at all with my Bitbay client.

I already sent a listing request to Poloniex for Bitbay, and everyone in this community should please do the same to keep the pressure up. Maybe list a few bullet points as to the positive features and benefits as compared to Ethereum. DZ has already made a fine job of drawing the comparisons between Bitbay and Ethereum.

As for Chinese / Asian exchanges, have you considered approaching Gatecoin?:
https://gatecoin.com/

From their website: "We are a Money Service Operator Licensed in Hong Kong by the Customs and Excises Department..."

I opened an account there and tested it with some Ethereum and Bitcoin, and it all went pretty smoothly. I was able to deposit and withdraw with no issues. Although, the website was a bit laggy when I happened to be there, but they were doing some maintenance and improving the site I believe.

Yeah maybe the major difference between Bitbay and Etherium is they spent their time marketing and getting money and then developed software later. While we have been coding first and will market later. Altough i've learned a lesson that having a product doesn't always mean people will use it. (you have to market)

There has been multiple ideas for exchanges that we could add to. First this is people should let them know. And either way things will change once the pegging starts because we will have to negotiate it again since freezing coins will take some orders off the live books.

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: Bitcat on March 13, 2016, 03:55:10 AM

Quote from: edmundduke on March 07, 2016, 08:06:20 AM

Quote from: dzimbeck on March 07, 2016, 07:37:35 AM

Quote from: ?? on ??

Quote from: dzimbeck on March 07, 2016, 12:08:01 AM

Quote from: pugman on March 06, 2016, 07:35:19 PM

Chinese exchanges volumes are insane. We need to get listed to attract investors

a 3 btc buy up will see Bitbay reach half a million. Someone take one for the team and put up 3btc worth ;-)

Why not just pay the exchange to get listed then? After we lost BTER we lost all our volume... its unfortunate.

So we need a new chinese exchange. I can put up a .25 btc bounty to find one and help with any cover charge. We could definitely use more volume.

I still sey bay on BTER

Yes but nobody will use BTER because they stole multiple millions of dollars from their cold wallet or something like this. I lost 3 btc there.

Pretty much, i would never use them. For now Bittrex is good enough but would be so nice to have it on Polo also. I am sure that would lure in so many investors and who knows, once the platform is close to coming out (or maybe after it is out) i am certain Polo will look at BAY from another angle and we will get added. As for chinese exchanges, theres pretty hard to find one that is not shady and has not conned users.

Hi guys, I've been reading this thread with interest and it's a real shame that BAY hasn't been getting the attention it deserves. The hype surrounding ETH is pretty staggering considering the technical issues surrounding it. I still can't get the wallet / app thing to work! However, no problems at all with my Bitbay client.

I already sent a listing request to Poloniex for Bitbay, and everyone in this community should please do the same to keep the pressure up. Maybe list a few bullet points as to the positive features and benefits as compared to Ethereum. DZ has already made a fine job of drawing the comparisons between Bitbay and Ethereum.

As for Chinese / Asian exchanges, have you considered approaching Gatecoin?:
https://gatecoin.com/

From their website: "We are a Money Service Operator Licensed in Hong Kong by the Customs and Excises Department..."

I opened an account there and tested it with some Ethereum and Bitcoin, and it all went pretty smoothly. I was able to deposit and withdraw with no issues. Although, the website was a bit laggy when I happened to be there, but they were doing some maintenance and improving the site I believe.

Good idea. Never heard of Gatecoin.

btc38 will be out of reach atm I guess until we get some more volume going.

Bitcat

newbie

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Quote from: edmundduke on March 07, 2016, 08:06:20 AM

Quote from: dzimbeck on March 07, 2016, 07:37:35 AM

Quote from: ?? on ??

Quote from: dzimbeck on March 07, 2016, 12:08:01 AM

Quote from: pugman on March 06, 2016, 07:35:19 PM

Chinese exchanges volumes are insane. We need to get listed to attract investors

a 3 btc buy up will see Bitbay reach half a million. Someone take one for the team and put up 3btc worth ;-)

Why not just pay the exchange to get listed then? After we lost BTER we lost all our volume... its unfortunate.

So we need a new chinese exchange. I can put up a .25 btc bounty to find one and help with any cover charge. We could definitely use more volume.

I still sey bay on BTER

Yes but nobody will use BTER because they stole multiple millions of dollars from their cold wallet or something like this. I lost 3 btc there.

Pretty much, i would never use them. For now Bittrex is good enough but would be so nice to have it on Polo also. I am sure that would lure in so many investors and who knows, once the platform is close to coming out (or maybe after it is out) i am certain Polo will look at BAY from another angle and we will get added. As for chinese exchanges, theres pretty hard to find one that is not shady and has not conned users.

Hi guys, I've been reading this thread with interest and it's a real shame that BAY hasn't been getting the attention it deserves. The hype surrounding ETH is pretty staggering considering the technical issues surrounding it. I still can't get the wallet / app thing to work! However, no problems at all with my Bitbay client.

I already sent a listing request to Poloniex for Bitbay, and everyone in this community should please do the same to keep the pressure up. Maybe list a few bullet points as to the positive features and benefits as compared to Ethereum. DZ has already made a fine job of drawing the comparisons between Bitbay and Ethereum.

As for Chinese / Asian exchanges, have you considered approaching Gatecoin?:
https://gatecoin.com/

From their website: "We are a Money Service Operator Licensed in Hong Kong by the Customs and Excises Department..."

I opened an account there and tested it with some Ethereum and Bitcoin, and it all went pretty smoothly. I was able to deposit and withdraw with no issues. Although, the website was a bit laggy when I happened to be there, but they were doing some maintenance and improving the site I believe.

Munti

hero member

Activity: 661

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Quote from: pugman on March 12, 2016, 09:52:43 PM

Can we get listed on Poloniex? Im sure every coin that isn't on there wants to be listed and constantly emails them. What can we do to make them want to list us? Also once pegged can Bitbay be listed on any exchange or will Bitbay have ti use its own exchange?

Fill out this form to get listed. I assume many of us have to do it to get their attention
https://poloniex.com/coinRequest

Once pegged Bay can be on ordinary exchanges that choose to work with us.

pugman

legendary

Activity: 2383

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dogs are cute.

Can we get listed on Poloniex? Im sure every coin that isn't on there wants to be listed and constantly emails them. What can we do to make them want to list us? Also once pegged can Bitbay be listed on any exchange or will Bitbay have ti use its own exchange?

LEONPATTON

full member

Activity: 170

Merit: 100

Quote from: dzimbeck on March 09, 2016, 10:24:42 AM

Quote from: LEONPATTON on March 08, 2016, 07:52:44 PM

Zimbeck is the coolest developer around and this asset should be twenty times its value. Got to give the man credit for sticking with this project and i know from personal experience hes a very fine man.
10/10 Zimbeck - your secret santa.

Thank you, i really appreciate it. Its stuff like this that helps me keep my head up and motivated. And once all this software finishes this year it will be completely worth every minute.

Just to get this software done is going to be like having an anvil off my shoulders. I've been working on Halo for 2 years! When it started, never had any idea it would last this long. But i can say its been totally a wild ride.

You withstood that ride because its that gene Wink

dzimbeck

legendary

Activity: 2412

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For all the investors who wonder what goes on day to day just wanted to drop in and say what im working on currently:

Recently i fixed the bitcointools library for high s curve signatures since bitcoins recent update
Ive tripled the fee in bithalo per input due to slow blockchain
ive fixed a minor issue where people who ignore the high fee warning for contracts result in a declined contract now we force them to accept the new fee or reject the contract entirely

im working on the linux and cross platform windows build of the daemon for all altcoins. Ive tried to build in a VM but got some weird memory issues, will be going to some local coding groups to find someone interested in assisting the build (if you know anyone who wants to help set up a VM for a bounty let me know)

After those builds i will buy a cheap mac and set up a build for that too

I've done some windows 10 testing with a new computer i got... windows 10 is a nightmare operating system. Aside from the spyware, it has serious memory issues and processing issues. I have no idea why anyone would use it. Nonetheless everything works. Although the OS is so unstable i almost lost a hard drive when it crashed because i was playing music. Got a faulty stick of RAM changed but i still think the Win 10 OS performs horribly. Forget that it also logs your keystrokes and invades your privacy... even its design makes my 8 processors seem like 1.

Apparently, using simple programs like chrome and winamp can cause 100% hard disk usage in windows 10. Ridiculous.

Today I'm working on a few bugs, if you type foreign characters into a Pay to Email, it can result in not getting encoded for email providers and not seen in the inbox. So thats being updated

Also, im working on cleaning up the queue for submitted raw transactions since they are not labeled for the account and can sometimes not get trimmmed.

And I'm going to check to see if resubmitting automatically to the markets has been working. You must stay connected at a certain sweet spot during the 2 days its posted and if you arent online at that time frame it gets removed and you must submit again manually. But i once did not see it submit so im going to do more tests.

Also i have to test contracts with myself to see if the fee adjusting works with autoaccepting and counter-offers. It might be a series of at least 2 tests.

Live tests take me time sometimes, opening and closing the program, using live coins and just repeating etc.

So just for anyone who is curious, I've been working recently and we will see more frequent updates now.

And for people who are not sure why there are delays, there is a changelog that comes with every new update/build. You can read those and see what was changed. Usually a lot is left out of that because there is no point to list everything. But it helps you as an investor to decide if I'm being lazy or not. Cool

Finally, if anyone has any bugs, please report them to me. And thank you to the slack group for searching for bugs. The idea is to try to break the client, stress test it etc.

Thanks

dzimbeck

legendary

Activity: 2412

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Quote from: Piltover on March 11, 2016, 05:25:14 PM

Is there some timeline for this, or is this speculation on things that can be achieved. The reason i am a bit frustrated is that for a year we've seen a lot of things especially in the beginning, but when it comes to achievements there are only halfway things that are ready?

Oh no this is not speculation, its must get achieved. I have gotten as far as charting out how its done, basically it is done in the scripting system, will effect individual inputs. And to elaborate, they get tagged with the time it freezes and unfreezes which will tell you how much it is fractionally divisible by. Then miner rules are changed for multiple different scenarios (such as allowing a 3 month exemption if the coin is time locked)

If you count the entire year quite a bit was achieved. Decentralized markets for one.

However, because im coding alone, if something comes up or i lose a few weeks, then there is nobody to code. So unfortunately I have to be constantly coding to finish this all since the software is so large already.

But its okay! This year i plan on finishing everything. So thats the timeline and i do believe this timeline was mentioned before.

funsponge

hero member

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He's invented the only decentralised market ever in the world in 1 year!! How quickly do you expect David to do these things on his own!? Bill Gates didn't just click his fingers and create an operating system! I would say that a year is quick! If I asked you to create something that has never been created before and asked you to do it on your own in 12 months you couldn't do it!
Not that this is enough for him though, David has also promised to do something no one else has ever done and create a pegging system and has given a time scale. He's aiming to active this before 2017. Again I would say that's extremely quick. Especially when other coins with millions of Dev funds haven't come close to what David had achieved! Give him some appriciation and be patient. If you were an active member of the community you will know that he is on the Slack group daily giving us all his progress and thoughts.

Piltover

sr. member

Activity: 364

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Quote from: dzimbeck on March 10, 2016, 03:27:47 AM

Quote from: edmundduke on March 10, 2016, 02:40:59 AM

Quote from: dzimbeck on March 10, 2016, 01:54:52 AM

Quote from: cryptohunter on March 10, 2016, 01:42:30 AM

thanks for the reply as always david

Yes you are right. Let's wait till after pegging. Who knows with the first stable price coin out there we might attract a lot of attention anyway. I mean this is the holy grail from a commercial pov. I'm sure the adoption of btc would be 1000x what is is now if vendors could take btc without being scared it is worth half before they cash it out.

Yep, its so extremely important to get rid of this pump and dump market that has been preventing bitcoin adoption. Nobody wants to use a currency that swings 25% a day... and this way it can even grow in price.

So then, the only thing that will matter is popularity and volume.

It will be interesting to see how the market reacts to it. It is really hard to give a pegging value to BAY (or maybe it is not but i have never seen any coin do this so i do not know what to really expect). I don't fully understand how it is possible to guarantee the price (unless there is some money to guarantee the value). There are very big wallets out there and if pegging happens, it would mean all those people would get access to a lot of money.

The pegging freezes coins. It freezes them for every input evenly based on the rate of deflation.

So if for example you have 1 billion coins and freeze 99% then the inputs will freeze 99% of any input.

This means that if you hold 100,000 coins you can only move 1000 and the other 99,000 you have to send to yourself as change.

This rule is enforced by miners.

When it inflates your coins become unfrozen but you cant predict when that will happen because of voting.

Extreme example:
You have 1 billion coins and you freeze 99.9999% of them so only 1 coin is available

Everyone would still have an equal fraction of that one coin but it brings up the market cap because i can go on the exchange and offer $100 for that one coin.

This makes the liquid coin worth 100 dollars raising the marketcap to 100 billion.

But thats an extreme example because you want liquidity and volume too so thats too heavily deflated. Instead deflate gradually to a target price.

Is there some timeline for this, or is this speculation on things that can be achieved. The reason i am a bit frustrated is that for a year we've seen a lot of things especially in the beginning, but when it comes to achievements there are only halfway things that are ready?

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: edmundduke on March 10, 2016, 02:40:59 AM

Quote from: dzimbeck on March 10, 2016, 01:54:52 AM

Quote from: cryptohunter on March 10, 2016, 01:42:30 AM

thanks for the reply as always david

Yes you are right. Let's wait till after pegging. Who knows with the first stable price coin out there we might attract a lot of attention anyway. I mean this is the holy grail from a commercial pov. I'm sure the adoption of btc would be 1000x what is is now if vendors could take btc without being scared it is worth half before they cash it out.

Yep, its so extremely important to get rid of this pump and dump market that has been preventing bitcoin adoption. Nobody wants to use a currency that swings 25% a day... and this way it can even grow in price.

So then, the only thing that will matter is popularity and volume.

It will be interesting to see how the market reacts to it. It is really hard to give a pegging value to BAY (or maybe it is not but i have never seen any coin do this so i do not know what to really expect). I don't fully understand how it is possible to guarantee the price (unless there is some money to guarantee the value). There are very big wallets out there and if pegging happens, it would mean all those people would get access to a lot of money.

The pegging freezes coins. It freezes them for every input evenly based on the rate of deflation.

So if for example you have 1 billion coins and freeze 99% then the inputs will freeze 99% of any input.

This means that if you hold 100,000 coins you can only move 1000 and the other 99,000 you have to send to yourself as change.

This rule is enforced by miners.

When it inflates your coins become unfrozen but you cant predict when that will happen because of voting.

Extreme example:
You have 1 billion coins and you freeze 99.9999% of them so only 1 coin is available

Everyone would still have an equal fraction of that one coin but it brings up the market cap because i can go on the exchange and offer $100 for that one coin.

This makes the liquid coin worth 100 dollars raising the marketcap to 100 billion.

But thats an extreme example because you want liquidity and volume too so thats too heavily deflated. Instead deflate gradually to a target price.

edmundduke

legendary

Activity: 1624

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Quote from: dzimbeck on March 10, 2016, 01:54:52 AM

Quote from: cryptohunter on March 10, 2016, 01:42:30 AM

thanks for the reply as always david

Yes you are right. Let's wait till after pegging. Who knows with the first stable price coin out there we might attract a lot of attention anyway. I mean this is the holy grail from a commercial pov. I'm sure the adoption of btc would be 1000x what is is now if vendors could take btc without being scared it is worth half before they cash it out.

Yep, its so extremely important to get rid of this pump and dump market that has been preventing bitcoin adoption. Nobody wants to use a currency that swings 25% a day... and this way it can even grow in price.

So then, the only thing that will matter is popularity and volume.

It will be interesting to see how the market reacts to it. It is really hard to give a pegging value to BAY (or maybe it is not but i have never seen any coin do this so i do not know what to really expect). I don't fully understand how it is possible to guarantee the price (unless there is some money to guarantee the value). There are very big wallets out there and if pegging happens, it would mean all those people would get access to a lot of money.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: cryptohunter on March 10, 2016, 01:42:30 AM

thanks for the reply as always david

Yes you are right. Let's wait till after pegging. Who knows with the first stable price coin out there we might attract a lot of attention anyway. I mean this is the holy grail from a commercial pov. I'm sure the adoption of btc would be 1000x what is is now if vendors could take btc without being scared it is worth half before they cash it out.

Yep, its so extremely important to get rid of this pump and dump market that has been preventing bitcoin adoption. Nobody wants to use a currency that swings 25% a day... and this way it can even grow in price.

So then, the only thing that will matter is popularity and volume.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

thanks for the reply as always david

Yes you are right. Let's wait till after pegging. Who knows with the first stable price coin out there we might attract a lot of attention anyway. I mean this is the holy grail from a commercial pov. I'm sure the adoption of btc would be 1000x what is is now if vendors could take btc without being scared it is worth half before they cash it out.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: cryptohunter on March 09, 2016, 11:08:15 AM

But David how can you be fudded. You did nothing wrong and are still here working on the project? don't reply on the thread you can just hold the ICO and do the ledger. If the ICO is transparent and full ledger then really there is no room for fudding.

Everyone else left and you could have taken your BTC and ran too? You gave us the smart contracts like you were paid. I mean if you didn't believe in BAY you could have just dumped your BAY and left saying sorry there is no dev fund now. Nobody could have said anything.

You have to think also. Even if we only raised 200BTC which I believe we will raise far more. But even if we did it would attract a lot more people to our community and increase interest in the BAY project. Also less dilution of the coins. I mean really there is no downside to where it is now. We either have big ico and big increase in interest and money to do things or we have small interest and don't have to dilute.

Anyway for me it would solve a lot of issues.
I like the name bitbay i would keep it like that. That's my vote.

Yeah thats true, it would be hard to fud based on that logic. And honestly, going through the FUD helped my skin get thicker and really helped me forget about my image and not worry about what people think.

Once you have had your character attacked publicly you are forced to face yourself. There is a really cool quote on this...

"Be who you are and say what you feel, because those who mind don’t matter and those who matter don’t mind."

In addition to smart contracts Bay also got the decentralized markets exactly as promised. But the project isnt complete yet of course we still need the rest.

Well this debate is interesting, however I don't want to take too much time away from coding. We could consider a relaunch when the pegging comes but i dont want to do anything that is unfair to investors who have stayed here and waited for ROI. I dont like the idea of diluting them. Letting new people into the market is okay perhaps at a discount since we will end up deflating anyways. It does create more work though.

So i think the best thing to do for now is let people talk about it on the forums in friendly debate and later this year when pegging is done we can discuss it again since im going to be testing it a lot anyways. And yes the btc would be helpful but not yet. If it came in now, it would be one extra thing for me to worry about (managing those funds, training devs). I would prefer to simply finish the coding goals we have here and then to clean up the code and to improve the system more and all that good stuff then i would be more comfortable managing devs.

Besides after i finish the templates i will probably be more interested in going completely open source instead of obfuscated python. So when we finish the pegging coding, then new devs can come in if we are able to raise funds and they will not have to work while im constantly changing the code. I know there is github for that but it would be a distraction simply explaining the code and I've had such a hard time finding reliable devs.

If i finish the goals now, then i wont worry about coding as much since im caught up on work and would be much happier managing and training a dev. So we are in no rush to rebrand.

Also when we peg, we can pay the new devs using frozen coins as well and some sort of bonus which serve as a future payment... if the project succeeds those coins unfreeze because volume increases so they will be motivated to see it succeed. Just another idea

cryptohunter

legendary

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: dzimbeck on March 09, 2016, 10:15:01 AM

Quote from: cryptohunter on March 07, 2016, 09:03:29 PM

Quote from: dzimbeck on March 07, 2016, 05:12:11 PM

Quote from: cryptohunter on March 07, 2016, 01:54:08 PM

Quote from: pugman on March 06, 2016, 07:35:19 PM

Chinese exchanges volumes are insane. We need to get listed to attract investors

a 3 btc buy up will see Bitbay reach half a million. Someone take one for the team and put up 3btc worth ;-)

No point doing this... more people will just poor bay on to the market.

BAY2 is the way forward.

LISK is crypti's BAY2

We have a legit reason for a BAY2

What was the problem with Crypti? I invested in Lisk because i liked their site and concept. But then i saw Crypti and wondered why that project was so unpopular.

I'm not sure I wasn't part of crypti. The thing is crypti developed some nice things. However they ran out of fund or the other devs wanted to move in a separate direction. Put forward some nice plans for lisk . Boom new ICO 1000's BTC for new development. That's what I heard. But anyway they seem cool guys and perhaps just want to go on their own and do something.

To be fair David you're probably a far more known figure than either of those two guys. They seem really cool and everything but most people have heard of david zimbeck. So whilst you've been scammed out the development pot and left to work on peanuts for years. Other devs are getting 1000's of BTc to further their development ideas?? that seems very weird.

We that are left here including you David are the victims. If you can come up with a perfect plan of how our BAY2 ICO funds will be used to further development and push us forward we could have an amazing BAY2.

If anyone read through all BAY2 proposal from before the they would not even be released until after pegging but are an rather Investment fund.

I went over the BAY2 idea several times and could find no good reason why not to run with it. It only has positives.

You can have the best single coder and designer in the world but there is only so much you can do on your own. The old BAY1 community could also be revived since they are not loosing out. Instead of 100% of cmc rank 120+ they can have 50% (or more if invest in BAY2) of CMC rank top 10.

I think you can do it David and you are being wasted here working with little resources.

I have no idea how they convinced you to do 100% of all the dev work for only 20% of the ico funds? That alone even if they had not deliberately took their 80% and sabotaged the project. You would have still been getting screwed over. You need a large dev pot and lot of BTC at your disposal.
Any negativity from the community can be quickly slammed down when we have an Open and transparent ledger for the funds and how they will be used. You as dev should take the same % from BAY2 as before for private interest and incentive and the rest of incoming funds spend on development.

I have no idea why any sane person (victim ico investor from BAY1) would not be over the moon at this idea. Yes you may well be seeing your share diluted by 50% but if the project is now 100+x the size or greater if we have a great ICO for dev and marketing then just increased you gain by 50%

And this ICO is practically fool proof because what we don't sell of BAY2 ICO (if it does not sell out which if we have a good enough road map and have competence to put in place which we do) is burned and never released after pegging so that dilution doesnt even take place.

Of course someone with a better mind for maths, leveraging etc will need to thrash out the best way.

If other project that actually USED all their first ICO money and didnt have it stolen away can have another ICO why the hell cant we. Of course we need to 100% track down those BAY1 wallets that are linked to the thieves that destroyed this project and have them frozen down first. We don't want them to benefit from our hard work.

Actually the lied thats how. When i talked to Steven he said they would hire devs. I told them i was involved in Blackcoin and could not do all the coding because i wanted to finish NightTrader but i did want the work since i was doing Blackcoin for free sort of a labor of love or something. So i was already in Asia hiring devs for the NT project and figured if that didn't work out they said they had devs with BTER. I even talked to Lin and he told me that. So it was hard for me to imagine that nobody would help me. They got paid and left. Thats so wrong on so many levels i dont know where to begin and end with it.

Actually its a huge regret of mine that i didnt demand to be in control of finances. But there was BTER and i doubted the exchange would put their reputation on the line. They had a lot of volume after all. And i was afraid i would not get hired at all if i was too demanding and i liked that fact that it wasnt a silk road type setup so i just sort of went with it. But yet it was very stupid of me not to ask for more, its just i had never gotten a contract that big before so from my perspective it was a blessing. And i didnt ask enough questions.

Okay so on to BAY2.

There is another problem i see with that. If it was an ICO, then it sets me up again for possible sabotage and not to mention fudding and insults on the bitcointalk thread. It could effect how much is raised and for me would be personally stressful.

Also since i dont have any coders working with me, the problem is promising an investor something new, most successful ICOs have at least 2-3 people and partners you know. I dont trust anyone anymore unless Vitalik himself wants to do it. hahaha I know hes busy so... yeah.

So yeah you know even if it raised for example 200 btc... thats not enough for more than 1-2 coders and if they cant hit their target in a year the money is gone and im still stuck doing all the work. Besides, i would have to train them too.

So for it to really be successful it would need a few million dollars. Like you saw what Lisk funded?? They can hire some nice coders for that!! They really will do great if they handle those funds responsibly.

The problem with wallets of the theives is its hard to track once they get split up. If you look at Mt Gox that was .5 billion dollars! They should have honestly rolled back the blockchain. It was seriously worth it because that was 30% of the coins in circulation. In our case the problem was mostly with the bitcoins.

In fact, more than 50% of bitcoins in existence have been stolen (mt gox .5 bil, sheep market 100 mil, silk road a few hundred mil, mintpal bter cryptorush cryptsi and so many others)

So it really is an issue even in Bitcoin

But David how can you be fudded. You did nothing wrong and are still here working on the project? don't reply on the thread you can just hold the ICO and do the ledger. If the ICO is transparent and full ledger then really there is no room for fudding.

Everyone else left and you could have taken your BTC and ran too? You gave us the smart contracts like you were paid. I mean if you didn't believe in BAY you could have just dumped your BAY and left saying sorry there is no dev fund now. Nobody could have said anything.

You have to think also. Even if we only raised 200BTC which I believe we will raise far more. But even if we did it would attract a lot more people to our community and increase interest in the BAY project. Also less dilution of the coins. I mean really there is no downside to where it is now. We either have big ico and big increase in interest and money to do things or we have small interest and don't have to dilute.

Anyway for me it would solve a lot of issues.
I like the name bitbay i would keep it like that. That's my vote.

wosch76

legendary

Activity: 942

Merit: 1026

I don't know much about the BAY2 proposals. tl;dr

But how about a rebranding including namechange to f.e. C-BAY (C is for crypto).
I think of Dogedark that rebranded to VERGE, what made some waves and price rises.

1. this would avoid the confusion with this Exchange https://www.bitbay.net/

2. this would bring the opportunity for some media coverage to advertise the outstanding features of BitBay to a wider audience.

what do you think?

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: LEONPATTON on March 08, 2016, 07:52:44 PM

Zimbeck is the coolest developer around and this asset should be twenty times its value. Got to give the man credit for sticking with this project and i know from personal experience hes a very fine man.
10/10 Zimbeck - your secret santa.

Thank you, i really appreciate it. Its stuff like this that helps me keep my head up and motivated. And once all this software finishes this year it will be completely worth every minute.

Just to get this software done is going to be like having an anvil off my shoulders. I've been working on Halo for 2 years! When it started, never had any idea it would last this long. But i can say its been totally a wild ride.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: illodin on March 09, 2016, 02:52:41 AM

IOTA tokens are currently being sold and bought using escrow and trust before the network actually launches. Could someone post a step by step guide on how to sell and buy such tokens on BitBay in these circumstances? Where to download the client, which version etc.

Both buyer and seller should post an escrow deposit and the contract should last at least 3 months until it expires after which the escrow is returned if neither party disagrees (this takes care of either party dying or losing keys etc). Also the contract should be able to expire if both parties want so. And the contract should terminate successfully when the buyer has received the tokens (when the IOTA network eventually launches and is declared safe to do transactions on) and the seller has received the payment (BTC or perhaps even BitBay).

Hey thats a really good idea... maybe someone in the slack team wants to help with this? I could do a small bounty on that and we can post it there or propose it to their team?

Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 268. (Read 542094 times)