BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 30.

marecek666

member

Activity: 236

Merit: 12

Really thanks devs for the new version of wallet. It is super to see that the development is going forward. But this new wallet is the worst I have ever seen for syncing. It was not able to start with datadir files synced from previous version (keep crashing). I deleted whole contents of datadir except my wallet.dat and let it sync from the scratch. But it is not able to do full sync. It is doing OK for several minutes and after that stop at random block and for hours nothing after that. Log file contains ten thousands of lines with this:

Quote

ProcessBlock: ORPHAN BLOCK 751, prev=6b9c47a930d19f85eb84f5424cbe8a2ece68eddb0ba96c3783dcdc3a0730fee8
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ProcessBlock: ORPHAN BLOCK 751, prev=aa1355d0445953ee6f4525080b3dab11a3cb941c77502ded6c7d8faae98fb4e7

I have to close wallet, delete generated log file (it is prety large) and start it again. It can continue in syncing again after that. But it stops on another random block again. So have to close and start it again for syncing another blocks until next stop ...
Running on i5-3470, 16GB, SSD, Win8.1, 1Gbps symmetric connection. Previous wallet was well working.

dzimbeck

legendary

Activity: 2412

Merit: 1044

That's nice of you to say, thanks Doc. Yeah for those who are wondering what he's talking about, as I kid I composed puzzles as a "task composer" to set world records and such. I only learned chess at 11 but started composing at 13 and my work was published shortly after. At the time, I collaborated with some composers like Edgar Holladay and Milan Vukcevich both of whom are legends. Holladay used to send me hand written letters in the mail with the board hand drawn and the pieces stamped on. Hahaha the days before the internet or cell phones. The puzzles I created were designed to stump grandmasters and computers, one took me years to prove it's validity and ensure it was dual-free and sound. Since computers weren't any help in proofing it, the work was very demanding. It's a sort of art form. I wasn't really interested in competitive chess.

My work in chess can be found here:
www.zimbeckchess.com

BitBayDoc

jr. member

Activity: 193

Merit: 3

This is pretty cool to see the results of my Liquid, Reserve and Supply% of BAY that everyone is voting on - in the "History" section of my Wallet in the BAY Client.
Monetary History is being made right now and FEW even know it. lol

Right now the Peg Supply%, which is my Supply% also, is 50.99% - that's the lowest I've ever seen it. Very cool - it's working beautifully when the majority vote to deflate!

Even after all these years I thought I knew how all this worked; but as I recently found out from David, I was right in some respects and off the mark in others. Lol

I must say that after I think I now finally grasp what BAY really is, and could become; it is even BETTER than I ever imagined! Shocked

I wonder if the rest of the world knows that D. Zimbeck is one of the greatest, and maybe the greatest Chess Puzzle makers ever?
Not many people in the world are world class Chess players; yet alone world class Chess Puzzle MAKERS... I know I most certainly am not Cheesy

; and don't know anyone else who is. David was a Child Prodigy in Chess and could easily be a Grand Master if that's what he so desired.
His self taught genius and deep sense of fairness for everything business are on display in this BAY peg; and is simply amazing to witness.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: CRYPTONAIRE on January 23, 2020, 06:58:26 AM

Quote from: dzimbeck on January 22, 2020, 11:37:02 PM

Thanks, congrats everyone.

Also to the question about freezing, Halo batch freezes for you in advanced sending. I tested it however I'm missing an API command (listfrozen) I didn't realize Yshurik split those up so the frozen balance won't show until the next update which should be in a week. Of course you can still voluntarily freeze in Halo now. We may drop supply temporarily just to test all the features but before Latoken launch there is a good chance the community will raise it to zero so the crypto world gets to see it gradually progress forward. This is up for discussion.

May I ask, what is this "next update"? Is there anything we need to do in preparation for it?

Also, the staking appears to be behaving oddly again. Payouts, which were for 19.99994446, have now dropped to 4.99994446. And they are VERY infrequent.

My wife has 1.3 million BAY. She has received three of these payments into her wallet since the fork activated. I have over 20 million coins in my wallet, but I have received zero payments.

Any thoughts?

The reason is the cost to vote is 5554... that number was chose arbitrarily

The software will not vote if you ask it not to. You can see all of this in the settings tab. In fact, the software may only vote about 100-200 times before it forces you to return to the settings tab and decide to vote again. This makes it so nobody falls asleep at the wheel voting in a way that harms the system. Big stakers will want to then revisit the software every couple days to ensure the vote is set to automatic(community algorithm) or whatever they choose.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: CRYPTONAIRE on January 25, 2020, 01:33:11 PM

Thanks for the replies.

@shaydinblue: I was aware that the peg is active, I was really just following up on the post by BitBayDoc re freezing/reserving. BBD said he was not going to freeze/reserve until after next update, implying he had the choice. I was just wondering why coins were being reserved without any action being taken.

@yshurik: what exactly is the difference between reserved coins and frozen coins?

Doc was mistaken when he used the term reserve/frozen interchangeably

An output in the peg instead of being an integer is simply an array of values. These values say when parts of those coins will be reserve or liquid.
The difference between reserve and liquid are simply that reserve moves slower and must be locked for 1 month or "frozen". Therefore:

Liquid coins move immediately
Reserve coins can move but must be frozen
Frozen coins can not move

All of those coin types can be staked and each one gets a different reward.
Deliberately Frozen Liquid only for 4 months(40 coins)
Frozen reserve or liquid(20 coins)
Majority reserve in an input(10 coins)
Majority liquid in an input(5 coins)

https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528.pdf

That doc is what we send exchanges ^
So far the PDF is the best visual explainer we have.

As for the "fix" in Halo in the advanced tab you can see the ability to do "Reserve Transfer" or "Voluntarily Freeze Liquid":
The first freezes for one month getting the 20 coin bonus
The second freezes for 4 months getting the 40 coin bonus

Sending those freezes work right now but I overlooked an API command (listfrozen) thinking it should show up in listunspent.
No big deal, just means Halo won't show or stake the frozen coins until I update it this week.

Also I realize BitBay/Halo client needs better documentation so we will wait for enough feedback on what everyone would like to see to help them understand the peg client.

I think the community should definitely organize the docs and materials we have for the peg.
Because, we have a lot of good blog posts, learning materials but our community just doesn't have it all in one place like an FAQ. We should link such a thing on the site.

dzimbeck

legendary

Activity: 2412

Merit: 1044

Quote from: estenity on January 26, 2020, 05:02:00 AM

i don't understand fully how to sent cryptos to :
https://wallet.bitbay.market/#

We need to update that to be compatible with the peg. You could send to it but the funds may not show up at the wallet, you can instead export the private key to the QT for now until it's updated.

estenity

hero member

Activity: 1924

Merit: 538

i don't understand fully how to sent cryptos to :
https://wallet.bitbay.market/#

tradersnow

jr. member

Activity: 90

Merit: 3

For anyone with questions regarding the Dynamic Peg, here is a comprehensive FAQ:

https://medium.com/bitbay-blog/bitbay-dynamic-peg-faq-8cd257da63fd

If you read through it and still have a question that you don't see, please post it here so it can get added to the article

yshurik

newbie

Activity: 9

Merit: 4

Quote from: CRYPTONAIRE on January 25, 2020, 01:33:11 PM

Thanks for the replies.

@shaydinblue: I was aware that the peg is active, I was really just following up on the post by BitBayDoc re freezing/reserving. BBD said he was not going to freeze/reserve until after next update, implying he had the choice. I was just wondering why coins were being reserved without any action being taken.

@yshurik: what exactly is the difference between reserved coins and frozen coins?

Liquid can be transferred to another address without limitations same as standard coins.

Reserve can be transferred to another address but then it got frozen - can not move for a month.

When month passes frozen txout can be moved again.

Liquids move fast, reserve moves with a month lock.

CRYPTONAIRE

sr. member

Activity: 527

Merit: 251

Quality Crypto Collector

Thanks for the replies.

@shaydinblue: I was aware that the peg is active, I was really just following up on the post by BitBayDoc re freezing/reserving. BBD said he was not going to freeze/reserve until after next update, implying he had the choice. I was just wondering why coins were being reserved without any action being taken.

@yshurik: what exactly is the difference between reserved coins and frozen coins?

yshurik

newbie

Activity: 9

Merit: 4

Quote from: CRYPTONAIRE on January 24, 2020, 11:54:56 AM

Further to my post (above) the total number of reserved coins has now risen to 1,370,000.

What does this mean, if anything? (given that I haven't actually done anything?)

It means the whole system is deflating now. Liquidity is turning into reserves.

shaydinblue

jr. member

Activity: 48

Merit: 1

CRYPTONAIRE the peg is active and being tested on the main-net. That is why you now have reserve coins...

yshurik

newbie

Activity: 9

Merit: 4

Quote from: ExEric3 on January 24, 2020, 04:57:42 AM

Updated QT wallet to v3 and it stuck on block 2459220, 38 hours ago. Synced from scratch. How fix it?

This may happen as not 100% nodes were updated before hard fork.
So you unluckily stuck into abandoned chain looks like.
Simplest and quick way:

1. stop qt wallet
2. backup wallet.dat somewere
3. remove all files in datafolder except wallet.dat
4. place bootstrap.dat in datafolder
5. start qt wallet

bootstrap file is updated up to Jan 23 - bypassing fork point, so you should be safe after resync.
it may take 2-3 hours to load from bootstrap which is much faster then ordinary resync.

CRYPTONAIRE

sr. member

Activity: 527

Merit: 251

Quality Crypto Collector

Further to my post (above) the total number of reserved coins has now risen to 1,370,000.

What does this mean, if anything? (given that I haven't actually done anything?)

CRYPTONAIRE

sr. member

Activity: 527

Merit: 251

Quality Crypto Collector

@BitBayDoc

Thanks for the very comprehensive reply BBD!

It all makes perfect sense, tho' I agree a crib sheet would be useful, esp for new users.

Like you I do not intend to freeze/reserve anything until after the update. I do, however, have about 200,000 coins in 'Reserve', without me doing anything. Is this a feature of the system, or a glitch which will disappear after the next fix?

ExEric3

full member

Activity: 176

Merit: 100

Updated QT wallet to v3 and it stuck on block 2459220, 38 hours ago. Synced from scratch. How fix it?

BitBayDoc

jr. member

Activity: 193

Merit: 3

Quote from: CRYPTONAIRE on January 23, 2020, 02:54:10 PM

@BitBayDoc

Thanks a million for keeping a weather eye on this thread and for trying to answer everyone's queries.

It really is greatly appreciated. Grin

It's my pleasure - just trying to be a positive voice for a positive and historic endeavor.

I spoke to D. Zim., he is traveling now so I will do my best to convey a few answers:

1. A small fix needs to be applied so coins that may not be showing up when frozen or reserved, which are actually still there, will show up.
This will be done in a week or so - after that, he will post an update, like any other update, we upload it, and that issue will be fixed.
All coins will then be there that may not be showing up; but can be seen on crypto chainz. Again, all coins are there and safe.

Me personally, I am not freezing or reserving anything until after the before mentioned update; but I will be freezing or reserving a large part (if not all) of my stack before we launch on an exchange - for the highest staking or "interest" returned. Thank God I don't need the money and this is a long time investment for my retirement anyway. Which leads to the next question:

2. Now that we are in the peg format, what we received when staking prior to this, has changed depending on what we are doing with our coin.
Different rates of staking returns now depend on whether the majority of your coins are Liquid (5 Bays returned); majority Reserved (10 Bays returned); 1 month Freeze or "Reserve Freeze" which can also be Liquid (20 Bays returned); or 4 month Freeze of Liquid only (40 Bay returned).

I have asked David to write up a reference sheet explaining all of this more in depth and posting it, as in the beginning it may sound confusing.

The bottom line for me is to always be fairly conservative at this point. I know if I start freezing or reserving Bay now, it may not show up where expected until after the update in a week or two, but it is still there. So for me, I want to stay calm and don't mind only getting 5 Bay for a week or two until after the update, when I will then pretty much put everything in a frozen or reserved status - and then get 40 Bay, for my staking efforts and supporting the network moving forward.

I hope this helps.

CRYPTONAIRE

sr. member

Activity: 527

Merit: 251

Quality Crypto Collector

@BitBayDoc

Thanks a million for keeping a weather eye on this thread and for trying to answer everyone's queries.

It really is greatly appreciated. Grin

BitBayDoc

jr. member

Activity: 193

Merit: 3

Quote from: CRYPTONAIRE on January 23, 2020, 06:58:26 AM

Quote from: dzimbeck on January 22, 2020, 11:37:02 PM

Thanks, congrats everyone.

Also to the question about freezing, Halo batch freezes for you in advanced sending. I tested it however I'm missing an API command (listfrozen) I didn't realize Yshurik split those up so the frozen balance won't show until the next update which should be in a week. Of course you can still voluntarily freeze in Halo now. We may drop supply temporarily just to test all the features but before Latoken launch there is a good chance the community will raise it to zero so the crypto world gets to see it gradually progress forward. This is up for discussion.

May I ask, what is this "next update"? Is there anything we need to do in preparation for it?

Also, the staking appears to be behaving oddly again. Payouts, which were for 19.99994446, have now dropped to 4.99994446. And they are VERY infrequent.

My wife has 1.3 million BAY. She has received three of these payments into her wallet since the fork activated. I have over 20 million coins in my wallet, but I have received zero payments.

Any thoughts?

1. Good question about the "next update in a week" per D.Zim.
We will probably just have to do a regular update like at any other time. I am sure David will let us know when to do that.
Keep checking this thread for updates.

2. The staking issue is interesting... I am getting 4.99994446 BAY now also.
I see it all started at EXACTLY 16:00 1-22-20 per Chains.Crypto.info... Which would have been 9:00pm PST 1-22-20; prior to that - 19.99994446.

Thanks for the heads up! I'll ask David to please comment.

BitBayDoc

jr. member

Activity: 193

Merit: 3

Quote from: whale_shark on January 23, 2020, 12:20:13 PM

You have 20m 😱 wow owning 2% of a currency is crazy

Also where are people looking to see what they are receiving for stacking? I can’t see anywhere

BTW - I'm just answering this question. I have alot; but not 20... just sayin'.

1. Go to Coin Market Cap https://coinmarketcap.com/.
2. Go to BitBay.
3. Click on the Explorer link - not Explorer 2.
4. Click on Rich List - Find your address, click on it.
5. That will take you to a "Details of Address" page.
6. At the bottom of the 1st block of Details on this page you will see "Staked".
There you go!

Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 30. (Read 542140 times)