Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 292. (Read 542094 times)

Thanks man!

BitBay's built-in faucet feature is live:

We are going to post a new marketplace so you guys can learn to join a new bitmessage 'chan' or channel. This marketplace will be called 'Bitbay Faucet' if you want to join you can simply go to the "Market" tab of the Client an click on the Add/Join Market feature. A window will pop-up asking you to type in the market you wish to add or join. Type   Bitbay Faucet  in this field.
We will have 100 contracts where we are giving away 1000 coins each. Only one offer valid per client user - meaning you can't accept multiple faucet contracts! Yet feel free to refer this faucet to friends and faimily.
We hope you enjoy your experience learning the new BitBay Market Client UI!

I haven't checked this thread in a long time. Still holding my bitbay from ICO. Glad to see all new information in OP!!

Good job guys!

And now that we think P2M is nearing completion, I'd think that would be a great way to help others to easily help in marketing to countries that have limited abilities to buy crypto!

Thanks David!
Yes I can't wait!
Good times!

3r197, thats exactly why its worth marketing this a little bit more. Perhaps its time for a few articles or even marketing to countries that have no way to buy crypto. 

And as for any community members who want to test with us, the sell coins template is released and buy coins will be released in a day or two so that will complete that entire template. And the remaining ones will follow shortly. But at least now, we have a decentralized p2p exchange for fiat which ends up being cheaper or equal to coinbase with a much larger potential reach.

Guys we need some community support here! The system is live! I don't think you really understand the power of this template released. Currently we have a sell coins template/app that basically has the ability to create a built-in bot for Bitbay. This will continue to evolve! The "Buy Coins" template/app is about to be released as well. Same setup but opposite construct.

Sure it's not as advance yet as Quatloo or Cryptocircuits! But damn it man! It's built into the Client with multisig technology backing it! This means that you can use Bitbay's 'Sell coin' feature (soon to include Buy Coin feature) to sell Bitbays with either a set price or with a price tracker that's automatically adjusting your contract prices!

I'm saying this because I really don't think you guys really understand the gravity of this potential! This is the first wallet with a built-in bot with multi-sig technology backing it!
Recently someone just sold his Bitbay's through the client so he could receive fiat. I bought his coins and he was paid through Western Union while he was on vacation!

Yet think of the possibilities once the new Buy coins feature is released!!
Imagine if you live in some 3rd world country that doesn't allow for you to transfer your fiat to crypto securely! With Buy Coins feature - now anywhere in the world that allows you to have a bank account or has Western Union or similar... you could simply send fiat to the coin seller on Bitbay and have those coins deposited in your wallet with these new templates! I'd hope you would do such a thing to buy Bitbay! But if you just wanted to securely transfer fiat for crypto. You could use this service, then sell your Bays on any exchange so you could buy what ever coin of your liking! Point is, now you have an easy, secure, trustless way to do it!!!

No more waiting!!
No more thoughts of..., "Well if I only had Coinbase, or xyz company come to my country, then I'd finally get into crypto!" Bitbay can already bypass them! After all, isn't that what Satoshi wanted all along - no more middlemen! True Crypto-currencies should be about removing the middleman in any way, shape, or form!!

The sky is the limit!
Take your markets back!
Take your money back!

See above for latest windows client downloads

@Kolbas, did you download the client yet?

Still rolling out templates. But we are getting closer. The sell coins template is done and will push out buy coins in a few days. After that we will see auctions and reverse auctions.

So is it time to start marketing?

This is awesome smart contracts working and Been tested in real life as well as bitbay website is online.
Well Done guys:))

Regards Anoxy

Thanks. For the icon, can you please use our new logo?

Wow! I like the new OP. Good job guys!

There is a new icon too:
https://allienworks.net/2015/cryptocoins-updated-to-1-4/

This week we got another round of nice updates!

-The new BCT OP has been updated! It’s quite an eye opener! And has all new updated links for client wallet downloads!

- The Windows OS, “Sell Coin” template has been updated into the Client to all Slack members and BCT members for testing. This gives the client a total of 2 templates to test including the existing "Custom Contract" template.
To download:
 You can either ask to join our slack group by PM to David, Munti, or emailing [email protected]
Or go to the links provided in our official websites:
http://bitbay.market/getstarted/#
bitbaymarket.net
OP here on BCT https://bitcointalksearch.org/topic/bitbay-official-bitbay-thread-smart-contracts-decentralized-markets-rolling-peg-890531

- And yes, you read that right! Our new official website, Bitbay.market is live!! It has a built-in forum! We’ve been very busy lately testing the client, yet the new website and forum will continue to evolve and will be a great hub for Client related information, updates, technical help, and community adoption. Thanks Meta and Munti for all the hard work setting it up!

- If you have previously downloaded the Client. Follow these steps to install the new client:
As always back up your private keys.
If you have any existing contracts on the marketplace, backup your contract.dat files. The beauty of Bitbay is that it has a built-in, auto-backup system for contracts!
Delete the existing Bitbay Client
Install new Client from links provided above.
Remember the Client will need to ‘sync’ to the entire blockchain. This can currently take anywhere from 5-10 hours. For the sake of security, you must wait for the blockchain to syncronize 100% before the Client will allow you to begin doing transactions. Bootstraps are in progress and will be ever-evolving to download: See OP for existing link!
In the future, most updates will just require downloading on top of the existing Client version and will not require downloading/resync of blockchain!


-The world’s first international Bitbay ‘Sell Coins for Cash’ transaction has been finalized. Thanks to slack member ‘ptcgroup10009‘! The Client gave him the ability to create a ‘Sell Coins’ contract on the Bitbay marketplace and a buyer sent him the necessary fiat via Western Union to finalize it! At the time he was vacationing in the Dominican Republic! Bitbay’s fiat payment system already includes bank wire feeds, along with other methods of payment, and will continue to evolve!


Thanks for reading, we wish you a nice weekend!

Yes pegging will be exclusive to Bitbay. And as much as i want to say that I will be in crypto forever, I've got to focus on my immediate promises which are already tons of work. I should mention, if a lot of time goes by, and we find that we have to open source, eventually people will want to audit the code and when that happens I can't promise this will not get forked.

However, right now its my priority to make sure the people who are still following this project get what they came for and obviously that means we will want to keep our advantage in the market for as long as possible.

Not to mention, if i release source too early, it will get used for the wrong reasons.

Sweet! I got confirmation that my new Western Union prepaid card is in the mail and should be delivered soon. Can't wait to try it out!

For those interested. Bitbay has multiple features for sending payments and receiving payments. These features will be evolving!
What I love with Western Union's prepaid card, for the time being, is that it minimizes tx fees for Bay to fiat transactions!
https://www.wunetspendprepaid.com/how-it-works.shtml

It has a max of 5 dollars for USA domestic transactions and a minimum of 99 cents.

Foreign transactions are of course higher, but it's WAY better than using a credit card to create a transaction through western union to an international agency for manual pickup.

So this way if you are a lazy 'couch potato' that want's to minimize fees, you don't even have to leave your house to go to an agency and retrieve your money. You can receive payments or send payments directly from the card and that means everything is online!!!


Check it out!

Thanks very much for your answers David. I have always found you to be very reasonable and helpful. I for my part want both blackcoin and bitbay to succeed. I have a bit of both but always looking to grab more of each when good opportunities arise. The time and effort that goes into coding such things as the pegging is beyond most peoples comprehension. I hope we keep it closed long enough to gain the fair rewards such coding deserves. I'm pleased to hear the pegging is exclusive to bitbay.

Hey there, yeah this is a really good question and I am glad you have asked it. The first question being primarily about BitHalo. First of all, as everyone knows, I don't market BitHalo. The only reason we ended up having articles on BitHalo was because many reporters don't want to do stories on altcoins and I do expect that to change one day. BitHalo may be the door that gets people interested in Blackcoin and Bitbay so we should not shut it! And thats why I still have an interest in it. However, coding/community/etc I dedicate my full time in BlackHalo and BitBay. Its all still powered by Halo though which is really your question. So...

Because of Halo core, they are similar products. Halos design was meant to be coin agnostic. To prove that we don't need fancy Etherium code hard coded into the blockchain interfering with decentralization and a coins ability to scale(bandwidth/bloat).

This is exactly why I've proposed features that are exclusive to BitBay and Blackcoin. There are two things that make BitBay unique. The first being its branding. People use "E-Bay" because because it is branded in a way that people think of markets when they do. BitBay has the name that I think will make people think of markets and economy. And NightTrader has a name that obviously make people think of trading/exchange.
As you pointed out, pegging is the exclusive feature.

However, pegging is the feature that I'm the most bullish on because of the fact that if you are selling something in the markets and it's low volume you don't want prices to decline in the middle of your transaction. And even if they do, you would want long term price growth. Also, the fact that there is two different asset classes (frozen/liquid) really opens tons of doors (lending against frozen assets, large swaps, etc). Even on discussions on slack we have yet to break the ice on how much can be done there.

Blackcoin will be the base currency for any exchanges on NightTrader and again is branded. They don't have the rigid peg system and thus appeals more to speculation (which is not really a bad thing). They can and might go in a more anonymous direction as they just released stealth addresses. Plus Blackcoin is a place where many coders look to fork proof of stake security which is rat4s territory.

So I have more control over BitBay and its protocol. In theory, I was hired to only be a project manager and now have had to completely take over the project to protect it. And I do hold enough BitBay to make it worth my while to see this one to the end. So I have more control here but I really don't have a favorite because I want both communities to prosper. In the end, I'm very bullish on pegging if it works out the way we plan. However NightTrader could prove to be popular. Right now I see people still throwing money at centralized exchanges unfortunately so I don't know we have to wait and see.

As for open source well that will happen when the time is right. It has to happen one day, but it certainly will not happen until I have a completed project and i will probably wait to see that things are in fact successful. When people fork an idea the original usually remains more popular anyways we can't count on being the only game in town forever.

For when I leave crypto thats more of a personal decision. To be honest, i really don't like coding alone, and programming is not great for my health. So i'm looking forward to completion. If this turns out to be profitable and it doesn't upset the forces that be too much, and I can find some coders then I will probably still have a hand in the project. Not to mention if it succeeds we may get interesting offers.

So can i just makes sure if fully understand what it is i am buying.

bitbay is a combo of

Bithalo - that is not tied to bit bay but is kind of licensed by bitbay for now. Will all halo evolutions/updateds automatically come to bitbay?
pegging - that is not yet developed? but will be closed source so that other alts can't just copy and paste this tech to their coins? this will be the property of bitbay or available to license by other alts?

I fully recognise david is a crypto genius of the level that few others can equal but I want to be sure he is tied to the future of this coin not just bithalo. There are no other devs on this coin so if David is not dedicated to bitbay long term i worry this is not the project to place too many of my eggs long term.

So can i ask straight out to david now:  do you consider yourself bitbay's dev for the long haul or are you rather here code out what you said you would then move on to other projects?

Which coin do you favour blackcoin or bitbay? i have both but will go in further on the one you see as gaining more of your attention in the future.

I mean do you have enough bitbay to make it worth it becoming your priority? The entire coins value kind of lies in davids hands. I hope he has enough coins to make the hard work seem worth while.

Since i have noticed that some people are installing the new updates anyways, im going to post it here. The first template "Sell Coins" is being tested. At bitbaymarket.net the download for windows contains the newest build.

The new build is extremely stable. It has translations to 92 languages with a language editor, the new UI for templates, major enhancements to the core of Bay and improvements to speed and performance especially with dropped connections on imap and new Bitmessage improvements. Also an improved pay to email system.

In order to install it, i would recommend uninstalling your old build. You should obviously back up your two keys if you havent already.

The new build has a link to the updater inside it so from now on you will never have to update again, the client will notify you when the version changes.

You might want to message them about this too. And make sure the transaction went through because if the txid is not in the block explorer then they failed at creating it or did not submit it.