This has been said before, but it is worth repeating.....
If David can make the pegging happen, then every Bitbay you hold will be worth $1. Right now 1 btc can get you over a MILLION Bitbays! Now what are the chances that in a few months your 1M Bays will be worth 1M dollars? Well I don't really know, but considering that the dev is a bonafide genius and considering he and a team of others have been working on this project for nearly a year, I can definitely say that the chance of the peg working is WAY WAY WAY better than the chance of you winning a scratch off ticket for any substantial amount of money.
Bottom line is that anyone that doesn't put at least 1 btc into Bay right now is just a fool. The ratio of risk to reward here is about as good as you will ever see in your lifetime.
Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 297. (Read 542094 times)
July 28, 2015, 09:04:51 AM
July 27, 2015, 05:03:29 PM
I just wanted to say thank you David and the rest of the folks helping. I still hold coins and it is nice to see something being worked on so hard and not a scam. You guys are really pulling this project from the Bob fiasco to something that holds much promise. Although I still hold coins I had to sell off some due to some unforeseen financial pressure. I bought really low so I did not loose anything. I intend on buying what I sold back soon and holding it. Keep up the great work.
July 27, 2015, 04:50:35 PM
is their an eta for pegging?
Nothing set in stone. But rough 'guestimate' is around the end of 2015. July 27, 2015, 04:17:15 PM
July 27, 2015, 02:00:44 PM
good to see David is still around, after all Bitbay was a good investment.
July 27, 2015, 10:02:12 AM
is their an eta for pegging?
July 27, 2015, 09:00:23 AM
What's the slack link?
July 27, 2015, 01:58:20 AM
Thanks for your informative answers David.
What if anything could help you speed up the development side? do you have other devs helping you out or are you coding everything yourself.
I'm coding everything. I've been working on Halo for over a year now. It's too hard to find anyone to help on the code. Even when you offer to pay them, regardless of how much is offered, most coders are not able to work on crypto stuff and most of them are extremely slow or are dishonest about their hours or need to spend weeks just understanding the code. The bigger problem is most of them will take weeks to respond and then disappear.
So yeah, every time im just forced to do all the coding. But honestly, its faster this way since i know the code by heart and can quickly debug it. But of course i do wish there was someone out there who could help. I think the coders that are, cost hundreds of thousands per year. And even then, there is no guarantee they will be motivated to work hard every day. In that case, you need a good project manager too.
When you think about it though being the only coder has its advantages. I don't have to spend all day training people or be at their mercy. And i can make many more commits and even break the code up if i want. Considering that Halo was the first with smart contracts and markets, i think we have done things a lot faster doing things this way.
Thanks for taking the time to reply.
I do quite like BAY. The only things stopping me going even more in on this project is the fear that the original people involved at the start may still have some large amounts at hand to smack down on the markets in future. I still hold my ico coins and have stacked further. I do think this is one of the real projects to watch in the future though.
Honestly we don't think they do. The slack group did a lot of work in trying to figure out wallet balances. Their opinion is that most of it was sold. After all the price got pretty low and a lot of the guys there bought it up. Im not happy about it either. But then again, the whole point of pegging/hedging is to make the actual coin into the market maker. Control supply to match demand anyways. I'm sure some coins have had worse distributions. Although Bitbays was definitely not ideal in the beginning.
But then again, the guys on slack know more about that than i do.
Yes indeed, we got an hold on the big wallets from the guys who were involved in the beginning.
Their stack is drying up and basically there won't be enough BAY left in their hands to cause any more trouble.
Everybody prefers all the BAY to be spread out more but I'd rather have BAY in loyal investors hands then in some shady figure's hands.
And I do invite you hereby to join our Slack group, if you want of course, then you will be more up to date with what we are planning etc.
July 26, 2015, 07:48:30 PM
Thanks for your informative answers David.
What if anything could help you speed up the development side? do you have other devs helping you out or are you coding everything yourself.
I'm coding everything. I've been working on Halo for over a year now. It's too hard to find anyone to help on the code. Even when you offer to pay them, regardless of how much is offered, most coders are not able to work on crypto stuff and most of them are extremely slow or are dishonest about their hours or need to spend weeks just understanding the code. The bigger problem is most of them will take weeks to respond and then disappear.
So yeah, every time im just forced to do all the coding. But honestly, its faster this way since i know the code by heart and can quickly debug it. But of course i do wish there was someone out there who could help. I think the coders that are, cost hundreds of thousands per year. And even then, there is no guarantee they will be motivated to work hard every day. In that case, you need a good project manager too.
When you think about it though being the only coder has its advantages. I don't have to spend all day training people or be at their mercy. And i can make many more commits and even break the code up if i want. Considering that Halo was the first with smart contracts and markets, i think we have done things a lot faster doing things this way.
Thanks for taking the time to reply.
I do quite like BAY. The only things stopping me going even more in on this project is the fear that the original people involved at the start may still have some large amounts at hand to smack down on the markets in future. I still hold my ico coins and have stacked further. I do think this is one of the real projects to watch in the future though.
Honestly we don't think they do. The slack group did a lot of work in trying to figure out wallet balances. Their opinion is that most of it was sold. After all the price got pretty low and a lot of the guys there bought it up. Im not happy about it either. But then again, the whole point of pegging/hedging is to make the actual coin into the market maker. Control supply to match demand anyways. I'm sure some coins have had worse distributions. Although Bitbays was definitely not ideal in the beginning.
But then again, the guys on slack know more about that than i do.
July 26, 2015, 04:48:40 PM
Thanks for your informative answers David.
What if anything could help you speed up the development side? do you have other devs helping you out or are you coding everything yourself.
I'm coding everything. I've been working on Halo for over a year now. It's too hard to find anyone to help on the code. Even when you offer to pay them, regardless of how much is offered, most coders are not able to work on crypto stuff and most of them are extremely slow or are dishonest about their hours or need to spend weeks just understanding the code. The bigger problem is most of them will take weeks to respond and then disappear.
So yeah, every time im just forced to do all the coding. But honestly, its faster this way since i know the code by heart and can quickly debug it. But of course i do wish there was someone out there who could help. I think the coders that are, cost hundreds of thousands per year. And even then, there is no guarantee they will be motivated to work hard every day. In that case, you need a good project manager too.
When you think about it though being the only coder has its advantages. I don't have to spend all day training people or be at their mercy. And i can make many more commits and even break the code up if i want. Considering that Halo was the first with smart contracts and markets, i think we have done things a lot faster doing things this way.
Thanks for taking the time to reply.
I do quite like BAY. The only things stopping me going even more in on this project is the fear that the original people involved at the start may still have some large amounts at hand to smack down on the markets in future. I still hold my ico coins and have stacked further. I do think this is one of the real projects to watch in the future though.
July 26, 2015, 10:56:34 AM
Thanks for your informative answers David.
What if anything could help you speed up the development side? do you have other devs helping you out or are you coding everything yourself.
I'm coding everything. I've been working on Halo for over a year now. It's too hard to find anyone to help on the code. Even when you offer to pay them, regardless of how much is offered, most coders are not able to work on crypto stuff and most of them are extremely slow or are dishonest about their hours or need to spend weeks just understanding the code. The bigger problem is most of them will take weeks to respond and then disappear.
So yeah, every time im just forced to do all the coding. But honestly, its faster this way since i know the code by heart and can quickly debug it. But of course i do wish there was someone out there who could help. I think the coders that are, cost hundreds of thousands per year. And even then, there is no guarantee they will be motivated to work hard every day. In that case, you need a good project manager too.
When you think about it though being the only coder has its advantages. I don't have to spend all day training people or be at their mercy. And i can make many more commits and even break the code up if i want. Considering that Halo was the first with smart contracts and markets, i think we have done things a lot faster doing things this way.
July 26, 2015, 05:36:55 AM
are any of the things david is coding exclusively for bitbay or this just all part of halo being coded out and trials with bitbay?
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
The branding of Bitbay is more conducive to markets. There are also features exclusive to BitBay such as the pegging/hedging tools. The issue with BitHalo and BlackHalo is that it will be harder to guarantee a stable price growth or stable economy. So yes, pegging is the only feature that is exclusively BitBay in our immediate roadmap.
However, consider its much easier to use markets when the prices aren't all over the place. Especially if there is a price growth with a rolling peg.
Blackcoin is the first coin I developed in however im not the main dev so there is less control over protocol. Decentralized markets are not technically hard coded in the coins protocol. It uses Bitmessage and the Halo modifications that are fully decentralized. However, Blackcoin will be the base currency for NightTrader microtrading contracts. So they have their own advantages.
My primary interest is delivering the products exactly as promised. Personally, i don't have a preference of Bitcoin over Blackoin or Bitbay. They are all good coins.
The thing about pegging is, its a hard coded protocol so it will work without exchanges or with them. But we do need to make sure that exchanges are willing to put the new Bitbay on their exchange. If everything works out well, then I'm very bullish on Bitbay(of course).
So yeah Blackcoin and Bay are my primary interests as coins because the people who invested in those want to see it pay off.
My interest in Halo is totally separate. It's not a financial incentive. I don't care if Halo succeeds, I care that double deposit escrow (2 party escrow) becomes the standard in Bitcoin. Nobody should use 3rd parties, it goes completely against decentralization. Third parties are biased. So yeah the Halo stuff is more of an idealistic thing. Its the reason i came to Bitcoin. As for Halo licenses, whats the point of a license if the idea of DECENTRALIZATION dies with it?? We want 2 party escrow, no courts or complex paperwork, no arbiters who are biased, no middle men taking from every deal, no more theft and deception. That idea i hope will become the standard escrow even if another company copies it and Halos name is forgotten.
Pegging happens to be one of my favorite cryptocurrency concepts. I really think programmable money should not be limited to the boring "Bob sends Alice coins". If we can force the coins to behave like an actual economy then we can prove cryptocurrency has true advantages over the dollar. We can make coins act like different asset classes, use the blockchain as a notary, and even use it to represent time.
Bitcoin is not being used correctly. Its being used as a speculative asset. Thats what we are trying to change.
Thanks for your informative answers David.
What if anything could help you speed up the development side? do you have other devs helping you out or are you coding everything yourself.
July 26, 2015, 12:15:04 AM
David,
Have you seen the pegged assets over at bitshares? Thoughts? I thought it was the best implementation so far. A new one at ethereum tries to prove its better by rune4444 not sure of it yet.
Have you seen the pegged assets over at bitshares? Thoughts? I thought it was the best implementation so far. A new one at ethereum tries to prove its better by rune4444 not sure of it yet.
Yeah i have seen it. Their methods are definitely different from ours. However they seem to work pretty well. The difference here at Bay is the proposal is to cause supply to react to voting so the peg can roll and grow the price or it could be a hard peg. Since all value is determined by supply vs demand i think its probably the simplest way to do a peg (either a hard peg or a rolling one).
Still i read bitshares paper and i think they do pretty good work over there. Ethereum has been proposed almost a year ago with very little activity. If they ever exist, they will need to hurry up and finish so people can develop for it. I'm not sure that blockchain based approach is the correct one.
Not everything should be on the blockchain especially applications. On the other hand (some) modifications to the scripting system would be extremely useful so that is where i see Etheriums proposal a good idea. After all the bitcoin stack language is way too limiting.
July 25, 2015, 11:00:43 PM
David,
Have you seen the pegged assets over at bitshares? Thoughts? I thought it was the best implementation so far. A new one at ethereum tries to prove its better by rune4444 not sure of it yet.
Have you seen the pegged assets over at bitshares? Thoughts? I thought it was the best implementation so far. A new one at ethereum tries to prove its better by rune4444 not sure of it yet.
July 25, 2015, 08:34:24 PM
are any of the things david is coding exclusively for bitbay or this just all part of halo being coded out and trials with bitbay?
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
The branding of Bitbay is more conducive to markets. There are also features exclusive to BitBay such as the pegging/hedging tools. The issue with BitHalo and BlackHalo is that it will be harder to guarantee a stable price growth or stable economy. So yes, pegging is the only feature that is exclusively BitBay in our immediate roadmap.
However, consider its much easier to use markets when the prices aren't all over the place. Especially if there is a price growth with a rolling peg.
Blackcoin is the first coin I developed in however im not the main dev so there is less control over protocol. Decentralized markets are not technically hard coded in the coins protocol. It uses Bitmessage and the Halo modifications that are fully decentralized. However, Blackcoin will be the base currency for NightTrader microtrading contracts. So they have their own advantages.
My primary interest is delivering the products exactly as promised. Personally, i don't have a preference of Bitcoin over Blackoin or Bitbay. They are all good coins.
The thing about pegging is, its a hard coded protocol so it will work without exchanges or with them. But we do need to make sure that exchanges are willing to put the new Bitbay on their exchange. If everything works out well, then I'm very bullish on Bitbay(of course).
So yeah Blackcoin and Bay are my primary interests as coins because the people who invested in those want to see it pay off.
My interest in Halo is totally separate. It's not a financial incentive. I don't care if Halo succeeds, I care that double deposit escrow (2 party escrow) becomes the standard in Bitcoin. Nobody should use 3rd parties, it goes completely against decentralization. Third parties are biased. So yeah the Halo stuff is more of an idealistic thing. Its the reason i came to Bitcoin. As for Halo licenses, whats the point of a license if the idea of DECENTRALIZATION dies with it?? We want 2 party escrow, no courts or complex paperwork, no arbiters who are biased, no middle men taking from every deal, no more theft and deception. That idea i hope will become the standard escrow even if another company copies it and Halos name is forgotten.
Pegging happens to be one of my favorite cryptocurrency concepts. I really think programmable money should not be limited to the boring "Bob sends Alice coins". If we can force the coins to behave like an actual economy then we can prove cryptocurrency has true advantages over the dollar. We can make coins act like different asset classes, use the blockchain as a notary, and even use it to represent time.
Bitcoin is not being used correctly. Its being used as a speculative asset. Thats what we are trying to change.
July 25, 2015, 06:45:41 PM
are any of the things david is coding exclusively for bitbay or this just all part of halo being coded out and trials with bitbay?
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
david how invested in bitbay are you and how exclusive are all of your current and ongoing developments tied to bitbay?
Is only the pegging going to be bitbay property?
Would you say you are equally interested in blackcoin and bitbay and invested in those two projects above all others?
Or is your primary interest neither and rather the halo project is what you are working on that can be licensed to anyone for a fee?
I would like to know the answers to those questions before investing more into either black or bay. I already have quite a bit of both.
July 25, 2015, 06:18:22 AM
A lot of great news, thank you!
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
If we have it next week, we will want to test it on slack first. But yeah im pretty close to an update.
July 25, 2015, 06:17:53 AM
A lot of great news, thank you!
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
You're welcome.
The client is being worked on but as said above if you want a closer look into things feel free to join our slack group
July 25, 2015, 05:33:46 AM
A lot of great news, thank you!
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
And it would be nice to know a rough estimate when the new client will be ready. Maybe next week?
July 24, 2015, 04:34:48 PM
Dear BitBay fans,
This week we have some exciting news, so here is a list of interesting articles and BitBay related news!
- Cointelegraph wrote an article about how eBay is flushing out merchants who use Bitcoin as a payment option. This is very relevant to BitBay because we are creating an excellent and safe alternative to eBay. The article shows how ebay is using its position to block the upcoming of crypto payments in general.
For the article check this link: http://cointelegraph.com/news/114875/ebay-forbids-bitcoin-for-payments-removes-merchant-listing
- The upcoming Client update will incorporate Google Translate, meaning that 92 different languages will be available at the click of a button. This will make our client accessible and user friendly to non-english speakers, majorly increasing the potential reach of our solution. Of course, english speakers that prefer their mother tongue will also benefit!
- We are finishing up a brand new website for BitBay, yes you read it right! This site brings together a wealth of information about BitBay, as well as many other interesting features. One of these is a fully custom forum for BitBay, which we hope will become the community hub and where you all can receive support and have all kinds of conversations!
- Our Bitcointalk OP is getting a nice overhaul as well, which will be replacing the current OP. We are busy playing with options for graphics and expect to have this ready within a week, our thanks go to Crz for taking the time!
- And last but not least David is working hard on the advanced BitBay client, fixing it up and adding more features and templates. This is indeed a huge task but we are seeing daily progress and things are really shaping up.
If you feel like you want to keep in touch on a daily basis, feel free to join our slack group. You can get an invite by sending an short message to [email protected] saying you’d like to join.
Thank you for reading and we wish you a nice weekend!
This week we have some exciting news, so here is a list of interesting articles and BitBay related news!
- Cointelegraph wrote an article about how eBay is flushing out merchants who use Bitcoin as a payment option. This is very relevant to BitBay because we are creating an excellent and safe alternative to eBay. The article shows how ebay is using its position to block the upcoming of crypto payments in general.
For the article check this link: http://cointelegraph.com/news/114875/ebay-forbids-bitcoin-for-payments-removes-merchant-listing
- The upcoming Client update will incorporate Google Translate, meaning that 92 different languages will be available at the click of a button. This will make our client accessible and user friendly to non-english speakers, majorly increasing the potential reach of our solution. Of course, english speakers that prefer their mother tongue will also benefit!
- We are finishing up a brand new website for BitBay, yes you read it right! This site brings together a wealth of information about BitBay, as well as many other interesting features. One of these is a fully custom forum for BitBay, which we hope will become the community hub and where you all can receive support and have all kinds of conversations!
- Our Bitcointalk OP is getting a nice overhaul as well, which will be replacing the current OP. We are busy playing with options for graphics and expect to have this ready within a week, our thanks go to Crz for taking the time!
- And last but not least David is working hard on the advanced BitBay client, fixing it up and adding more features and templates. This is indeed a huge task but we are seeing daily progress and things are really shaping up.
If you feel like you want to keep in touch on a daily basis, feel free to join our slack group. You can get an invite by sending an short message to [email protected] saying you’d like to join.
Thank you for reading and we wish you a nice weekend!
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