BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 315.

DeezCoinz

member

Activity: 85

Merit: 10

Quote from: Inotanewbie on April 26, 2015, 12:05:33 AM

Quote from: DeezCoinz on April 25, 2015, 11:35:34 PM

OK. Check yourself Deezzy. Cryptsy will trade USD for altcoins, no problem. DeezCoinz dropped over Cyptsy ready to cop some coin. Made the official DeezCoinz account. Gave the wrong state. haha. they took it. I got my CC out and, WUT?, they want my drivers license or passport? I'm too young to drive and can't leave the country either. I CAN'T USE MY $$ without DOXXING myself.

Am I nutz here? Yes

So you are speaking riddles here, you are old enough to own a credit card but not old enough to drive? Doxing yourself to an exchange is not really a massive deal unless you are on the run or some s*&t.

I have a good memory and i remember you telling the thread how you drive your sons to soccer practice and how you buy their nikey boots from ebay so you have confused me to say the least. You created an account just to love Bitbay what is this about?

Hahahahah. Work with me here. Me and any other 15 year old idiot with enough sense to do some BTC, tor network and some crypto shit and I got all the CC I got BTC for. Pick me up some local BTC on the street. Money talks and bullshit walks. On a clear day you can see birds.

Did I really make those statements? I was quoting my mom. Sorry for the confusion. I'm actually one of the sons.

All inanity aside, Let's say I'm willing to dox myself to spend dollars. How does bitbay plug into the USD transactional system?

PS: Next week I might have DeezCoinz T-shirts with my own natty designed logo and shit, on the bay market. Lemme know if you want to be a part of that action.

Inotanewbie

sr. member

Activity: 252

Merit: 250

www.CloudThink.IO

Quote from: DeezCoinz on April 25, 2015, 11:35:34 PM

OK. Check yourself Deezzy. Cryptsy will trade USD for altcoins, no problem. DeezCoinz dropped over Cyptsy ready to cop some coin. Made the official DeezCoinz account. Gave the wrong state. haha. they took it. I got my CC out and, WUT?, they want my drivers license or passport? I'm too young to drive and can't leave the country either. I CAN'T USE MY $$ without DOXXING myself.

Am I nutz here? Yes

So you are speaking riddles here, you are old enough to own a credit card but not old enough to drive? Doxing yourself to an exchange is not really a massive deal unless you are on the run or some s*&t.

I have a good memory and i remember you telling the thread how you drive your sons to soccer practice and how you buy their nikey boots from ebay so you have confused me to say the least. You created an account just to love Bitbay what is this about?

DeezCoinz

member

Activity: 85

Merit: 10

So, I'm not too dopy. I buzz on over to AltQuick.com where I can buy me some Doggie coins for a few bucks, right? I pick some likely lookin' coins and I drop down to the pay window and it tells me this:

Please Read The Following Terms Carefully

Cash deposit or SEPA transfer (EU customers) only. Wire transfers, ACH transfers, online banking transfers, check deposits, Wells Fargo Sure Pay, Bank of America transfers and any other unauthorized deposit methods will not be accepted.

I'm like, WUT? I just wanted to bust some doggie? I cant even spell SEPA transfers. Where's bitbay on this list? Where do I check out please? I have my visa card right here. I need some service over here, SUP?

Is there anyplace where I can exchange USD for Altcoins?

OK. Check yourself Deezzy. Cryptsy will trade USD for altcoins, no problem. DeezCoinz dropped over Cyptsy ready to cop some coin. Made the official DeezCoinz account. Gave the wrong state. haha. they took it. I got my CC out and, WUT?, they want my drivers license or passport? I'm too young to drive and can't leave the country either. I CAN'T USE MY $$ without DOXXING myself.

Am I nutz here?

I can't help it. The air is full of 1P tonight.

DeezCoinz

member

Activity: 85

Merit: 10

Quote from: dzimbeck on April 24, 2015, 08:11:13 PM

Quote from: 3r197 on April 24, 2015, 06:29:56 PM

Quote from: Munti on April 24, 2015, 06:12:26 PM

You will be able to exchange Bay directly to US$ in the client and on exchanges

OMG!!! That's great news!!! This coin is so awesome!

In theory some of us can start selling Bay for cash, yen, peso etc P2P using smart contracts in the markets. However, once the template for cash is finished that will make it more obvious on how to perform a deal like that.

While I'm certain that we could make arrangements to exchange bitbay for envelopes full of USD

, what will it take to make bitbay accessible to/from my bank account or credit card? It's difficult to move USD around. Look at coinbase. You need full ID and a bank account that will accept transfers in and out from them specifically. If you further ID with a VISA card, they'll front you the BTC on demand.

Where will that interface exist? Who will you have to trust to have access to your USD bank account for an exchange between USD and BAY to take place? I'm not sure I'd be willing to open my USD bank account and supply personal information as part of getting an account at bittrex or any other altcoin exchange.

I'm just not sure how any of that would work. There's a place where crypto addresses and real money get exchanged, like coinbase or circle, but who will be handling that exchange between bay and $$?

dzimbeck

legendary

Activity: 2414

Merit: 1044

Quote from: solid12345 on April 24, 2015, 08:39:19 PM

Quote from: dzimbeck on April 24, 2015, 08:11:13 PM

Quote from: 3r197 on April 24, 2015, 06:29:56 PM

Quote from: Munti on April 24, 2015, 06:12:26 PM

You will be able to exchange Bay directly to US$ in the client and on exchanges

OMG!!! That's great news!!! This coin is so awesome!

In theory some of us can start selling Bay for cash, yen, peso etc P2P using smart contracts in the markets. However, once the template for cash is finished that will make it more obvious on how to perform a deal like that.

I imagine some kind of paypal to bay and vice-versa smart contract could be developed?

That can already be done right now, its just that there is no user friendly template (only custom template right now). For example lets say someone is selling 1 million BitBay. He deposts 1 mil and so does the buyer (there is also the 1 mil amount advanced).

Thus sellers in for 2 mil buyer is in for 1. Buy sends cash any way he wants (paypal ok but wait at least 30 days or open a support ticket to avoid chargeback) for example, bank wire, cash in the mail, money wire like Western Union, MoneyGram etc.

That wire covers 1 million and now buyer is out 2 seller is out 1 (1+1 deposit - cash which was 1)

So both parties have to confirm the deal and release to get their money out. We won't automate the wire but we can set up a template that fills in all the forms for any payment option. Things like wire info or western union info and the buyer would fill out their half as well.

To illustrate how the balance shifts its like this

2:1
1:2
even (contract complete)

solid12345

legendary

Activity: 1246

Merit: 1000

Quote from: dzimbeck on April 24, 2015, 08:11:13 PM

Quote from: 3r197 on April 24, 2015, 06:29:56 PM

Quote from: Munti on April 24, 2015, 06:12:26 PM

You will be able to exchange Bay directly to US$ in the client and on exchanges

OMG!!! That's great news!!! This coin is so awesome!

In theory some of us can start selling Bay for cash, yen, peso etc P2P using smart contracts in the markets. However, once the template for cash is finished that will make it more obvious on how to perform a deal like that.

I imagine some kind of paypal to bay and vice-versa smart contract could be developed?

dzimbeck

legendary

Activity: 2414

Merit: 1044

Quote from: 3r197 on April 24, 2015, 06:29:56 PM

Quote from: Munti on April 24, 2015, 06:12:26 PM

You will be able to exchange Bay directly to US$ in the client and on exchanges

OMG!!! That's great news!!! This coin is so awesome!

In theory some of us can start selling Bay for cash, yen, peso etc P2P using smart contracts in the markets. However, once the template for cash is finished that will make it more obvious on how to perform a deal like that.

dzimbeck

legendary

Activity: 2414

Merit: 1044

Quote from: bearishtrader on April 24, 2015, 04:13:01 PM

I have BitBay marketplace installed, recently I am having a sync issue where it says Synchronizing 217121: (this number does increment)
but the status bar is stuck at 0%
I tried the Rescan feature or restarting BitBay market but this did not fix the sync issue.
Thanks in advance any help appreciated!

Hmm well you can let it sync and see if the blocks increment, or perhaps its a firewall issue or something else? IF you send me your debug.log I can see if you are synchronizing. Rescan is only used to scan again for missing inputs (like an incorrect balance).

3r197

hero member

Activity: 732

Merit: 500

Quote from: Munti on April 24, 2015, 06:12:26 PM

You will be able to exchange Bay directly to US$ in the client and on exchanges

OMG!!! That's great news!!! This coin is so awesome!

Munti

hero member

Activity: 661

Merit: 504

Quote from: bearishtrader on April 24, 2015, 04:13:01 PM

I have BitBay marketplace installed, recently I am having a sync issue where it says Synchronizing 217121: (this number does increment)
but the status bar is stuck at 0%
I tried the Rescan feature or restarting BitBay market but this did not fix the sync issue.
Thanks in advance any help appreciated!

Just let it finish syncing. It takes a while. Status bar has not been reliable.

Munti

hero member

Activity: 661

Merit: 504

Quote from: DeezCoinz on April 23, 2015, 05:56:49 PM

Hey.

Would I be wrong in thinking that if 1 bitbay were pegged to 1 dollar, it would still be unstable as long as it can only be exchanged for BTC?

Would it be not pegged to a dollar, but to a dollar's worth of BTC, which varies greatly and is unstable?

Just askin'.

I'd say that's putting it upside down. Bitcoin is the volatile currency. You will be able to exchange Bay directly to US$ in the client and on exchanges

bearishtrader

newbie

Activity: 51

Merit: 0

I have BitBay marketplace installed, recently I am having a sync issue where it says Synchronizing 217121: (this number does increment)
but the status bar is stuck at 0%
I tried the Rescan feature or restarting BitBay market but this did not fix the sync issue.
Thanks in advance any help appreciated!

3r197

hero member

Activity: 732

Merit: 500

Quote from: DeezCoinz on April 23, 2015, 05:56:49 PM

Hey.

Would I be wrong in thinking that if 1 bitbay were pegged to 1 dollar, it would still be unstable as long as it can only be exchanged for BTC?

Would it be not pegged to a dollar, but to a dollar's worth of BTC, which varies greatly and is unstable?

Just askin'.

Good point. Remember though, just look at c-cex - they already have a BAY/USD pairing. One day I'd hope to see the same pairing in place on cryptsy. The reason being is that cryptsy also has fiat/fiat exchanges. Wouldn't it be awesome to see the day cryptsy had a Bay/BTC, Bay/USD, Bay/EUR, Bay/GBP, etc... If so, then we could have a stable coin that could help hedge against all the others (crypto & fiat) in unison!

At least that's my hope and dream on the matter!!

Cheers!

mafort1469

sr. member

Activity: 364

Merit: 250

I will hold mine as I know this isn't another shitcoin. Thanks for that!!! Finally something solid.

DeezCoinz

member

Activity: 85

Merit: 10

Hey.

Would I be wrong in thinking that if 1 bitbay were pegged to 1 dollar, it would still be unstable as long as it can only be exchanged for BTC?

Would it be not pegged to a dollar, but to a dollar's worth of BTC, which varies greatly and is unstable?

Just askin'.

blumangroup

sr. member

Activity: 350

Merit: 250

'Slow and steady wins the race'

Quote from: dzimbeck on April 23, 2015, 02:54:40 PM

Quote from: blumangroup on April 23, 2015, 02:19:25 PM

Quote from: funsponge on April 19, 2015, 05:21:40 AM

Greeting Blumangroup welcome to the Bitbay thread! I see you haven't been here before. Strange first post to write but you are right! We all need to coordinate and organise outselves. Perhaps when we have an official launch date we can then do more percise planning.

Hey maan,

Thanks for the welcome, just because you have not seen me here before it does not mean i have not been here before Tongue

What exactly is strange about a post that is right? lol.

The 'precise planning' should be done be done long before launch, launch will be enough going on to have to worry about getting things planned, just my opinion of course

Quote from: blacktea286 on April 23, 2015, 08:38:53 AM

I checked the bitbay wallet, found the wallet with coin quantity is less and less, the coin is more concentrated.

That will even out the more people that understand what we have got here, a lot of people still seem to be on the sideline which is their choice but when it takes of they are the same people that will be panic buying on the way up following the sheep.

The wallets you see are either the smart cookies that takes risks or they are they are not Cheesy

But.. We are in the rich list as you can see Tongue

Hey thanks i totally agree, and i wanted to elaborate most coins are concentrated. Even Bitcoin there are wallets holding massive amounts of BTC. The top 100 wallets hold 20% of bitcoin! So distribution comes with time. Hedging/Pegging will help this happen i think by stabilizing prices.

Hey David

You are right nearly every coin out there has 25+% concentrated in the top 100 but as you have said in time and a nice amount of people finding out how awesome this is, then they will be buying a nice percentage of the concentrated coins which will even out in no time when we go public.

The fact is only a small amount of people are willing to take the early risk and they may or may not pay of but that is what you can see when you look at the rich list is people who are willing. Wow super excited for pegging and hedging to start that will create a lot of interest and the speed of the transaction only helps.

All is looking good!

dzimbeck

legendary

Activity: 2414

Merit: 1044

Quote from: blumangroup on April 23, 2015, 02:19:25 PM

Quote from: funsponge on April 19, 2015, 05:21:40 AM

Greeting Blumangroup welcome to the Bitbay thread! I see you haven't been here before. Strange first post to write but you are right! We all need to coordinate and organise outselves. Perhaps when we have an official launch date we can then do more percise planning.

Hey maan,

Thanks for the welcome, just because you have not seen me here before it does not mean i have not been here before Tongue

What exactly is strange about a post that is right? lol.

The 'precise planning' should be done be done long before launch, launch will be enough going on to have to worry about getting things planned, just my opinion of course

Quote from: blacktea286 on April 23, 2015, 08:38:53 AM

I checked the bitbay wallet, found the wallet with coin quantity is less and less, the coin is more concentrated.

That will even out the more people that understand what we have got here, a lot of people still seem to be on the sideline which is their choice but when it takes of they are the same people that will be panic buying on the way up following the sheep.

The wallets you see are either the smart cookies that takes risks or they are they are not Cheesy

But.. We are in the rich list as you can see Tongue

Hey thanks i totally agree, and i wanted to elaborate most coins are concentrated. Even Bitcoin there are wallets holding massive amounts of BTC. The top 100 wallets hold 20% of bitcoin! So distribution comes with time. Hedging/Pegging will help this happen i think by stabilizing prices.

blumangroup

sr. member

Activity: 350

Merit: 250

'Slow and steady wins the race'

Quote from: funsponge on April 19, 2015, 05:21:40 AM

Greeting Blumangroup welcome to the Bitbay thread! I see you haven't been here before. Strange first post to write but you are right! We all need to coordinate and organise outselves. Perhaps when we have an official launch date we can then do more percise planning.

Hey maan,

Thanks for the welcome, just because you have not seen me here before it does not mean i have not been here before Tongue

What exactly is strange about a post that is right? lol.

The 'precise planning' should be done be done long before launch, launch will be enough going on to have to worry about getting things planned, just my opinion of course

Quote from: blacktea286 on April 23, 2015, 08:38:53 AM

I checked the bitbay wallet, found the wallet with coin quantity is less and less, the coin is more concentrated.

That will even out the more people that understand what we have got here, a lot of people still seem to be on the sideline which is their choice but when it takes of they are the same people that will be panic buying on the way up following the sheep.

The wallets you see are either the smart cookies that takes risks or they are they are not Cheesy

But.. We are in the rich list as you can see Tongue

blacktea286

member

Activity: 96

Merit: 10

I checked the bitbay wallet, found the wallet with coin quantity is less and less, the coin is more concentrated.

dzimbeck

legendary

Activity: 2414

Merit: 1044

Quote from: E9800 on April 23, 2015, 06:54:06 AM

Quote from: jm1978 on April 23, 2015, 05:03:14 AM

Quote from: illodin on April 23, 2015, 03:58:48 AM

One reason the price is so low could be that this project doing all it says it will just sounds too good to be true to most.

In this world that we living? Yes, for sure Roll Eyes

Or maybe the past of BAY is something investors cannot\will not ignore.

I dont think so, all the jerks are gone anyways. Besides, unlike other coins, we are actually developing lol. And also, we had some very good volume spikes recently especially a couple weeks ago. Also, several new investors contacted me and the news outlets were fairly neutral and somewhat interested in this project. If anything, the past is just a crazy story to tell. People want to see a marketable project. The point is having a project that can reach masses outside of the forums.

Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 315. (Read 542225 times)