Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 33. (Read 541880 times)

Why would I emulate Steve Jobs? I would rather be an original than a copy. And besides, I don't see too many billionaires fighting for peoples freedoms.

It's redundant to say a coin needs liquidity (demand). Even if the peg can force price by controlling supply that only solves one of the two factors of value...
Supply and demand

Demand is the kind of thing that if you want the masses in, you need to do certain things to get their attention. And this has been mentioned on the forums over and over again.
However just so you know, the demand and supply will probably be very close in harmony. Thus if volume drops and demand drops then supply will probably drop to meet it in order to hold whatever price the community considers the floor.

Granted we think demand will come with the comfort of knowing the peg is not collateralized and then as they see the price stability and growth they will come. But unlike other developers I try my best to let the code speak for itself. If you want to buy dreams there is tons of vaporware on coinmarketcap I can recommend for you.  

And yeah as for news articles and bots and conferences and stuff sure that's a great idea. But first lets launch this thing! We are planning a fork within a week or two. So you will see periodic updates making sure everyone ports over.

You sound like a guy who’s closing his store after years of trying to keep afloat. Your suppose to be the positive one  . You wouldn’t Have see Steve jobs at the launch of iPhone saying its may catch on, it may not but it’s been good doing it’ or words to that effect.
Regarding the liquidity isn’t that something you knew would be an issue and been looking at how to solve it for the last few years? News articles planned or bots?

Thanks I appreciate it. I know we have done something right if even our detractors are quietly rooting for the underdog.  

To be honest, considering all the shilling Bob/Gecko/etc did when things were really bad for us in 2014, it was amazingly epic that we made a comeback
from that and I never expected BAY to go as far as it did in 2017. I had previously thought we needed the peg just to break 1 cent price because of how
difficult things were for us.

Amazingly, BitBay had it's day in the sun and no matter what happens, I will always be happy about that. It was a legendary comeback.

Also it's not so bad having you around even if you don't believe BAY will make it. It's a healthy dose of skepticism. I have admitted that we need liquidity and volume
regardless of how good the tech is or is not. The peg is great but for a high liquid supply high volume is almost required. It's anyone's guess if we will get it. And you might be right. Maybe we won't. But there is only one way to find out and that is to keep pressing forward. With the fork and LAtoken listing almost imminent we will see what the truth is very soon. We have tested trades on there and all that is left is for them to finish withdraws.

The QT does not come with a config file, you have to make one. And it is in the standard data directory in roaming. The markets client however does and for that just edit it.

No this is the new build. It has to be implemented before the fork.
We are currently testing out the new QT wallet and the new Halo Client wallet.

if you need a guide for the qt wallet you can review it here

https://docs.google.com/document/d/1vvtR8q_oSIXXW0JfAgsXgRJcFoLrxrUWRNueT7hOAMo/edit?usp=sharing

will there be a new build after the fork? containing all the peg stuff within the wallet/market?

also if you want every bitbay holder to do the update maybe mention it on facebook and twitter?

Thanks for the informative and helpful response David.  Re nodes; where do I insert them into the BAY blockchain directory?  There does not appear to be a .conf file?

Just updated my QT wallet to v. 3.0.0 and it litterally took less than 5 minutes ( wallet.dat back up included).
How can I check if I'm on the correct chain and not on a fork of it?

 

Okay so two things... the 18 coins instead of 20.
This is because there is a donation address. You can opt out of it(just look at staking tab). Users had been requesting it for years to help development (I personally was indifferent because I didn't feel like it helped to put sell pressure on the orderbook even if it was for development). Either way, every user can choose to opt in or opt out to contributing a small amount of the stake reward to development. In absolutely no way is it required (as that would not be decentralized). It goes to the foundation address which is managed by Craig, Bjorn, Shorn, etc. Also this feature is only in the QT and not in Halo wallet. Halo already had a donation option but it was not automatically applied to anyone or anything.

The second thing is, you must be on a fork. Unfortunately, if you are getting blocks every minute somehow you ended up on a fork. I would say we need more stakers. You will unfortunately have to resynchronize (of course back everything up). Might take you a few days. You can confirm that you are on a fork since your latest block hash won't match chainz and your block number won't match them either. To avoid in the future try updating your list of nodes and add some from chainz.

You can not delay upgrade. Everyone should upgrade with the links I posted. Delaying will put you on the wrong side of a fork and also we need over 75% of the users on the new software in order to fork. As far as rewards its the same staking until the fork is automatically triggered.

@Cryptonaire - I have asked David to look at your comment. Thank You.
My staking amount has decreased a bit also down to 19.99994446
I just checked and I am doing better than usual also. At least it's not less than I did before!
  
Your increased run might have happened because everything "caught up" to what you had coming that was in que?

I have updated the QT; this went quite smoothly, as hoped.  I am also staking, but the results appear to be a bit odd.   Before update, I was staking a few dozen times/day, gaining 20 coins each time, as expected.  I am now gaining 18 coins each time, every other minute.  So something must be wrong, surely?

Hi Everyone,
I just checked to see if everything was running smoothly after updating for the fork.

MY ACCOUNT IS FUNCTIONING PERFECTLY AND I AM ONCE AGAIN STAKING.
TOTAL DOWN TIME WAS LESS THAN 3 HOURS from the time I exited the client, and uploaded the new one.
Then, it took about 5 hours to start receiving staked coin again, as seen on the Extraction file page.

Hopefully Little Tiny Piston sold all his/her/its Bay by now... I wonder why the hard-on for Bay all these years?
Maybe his mothers name was "Bay" and she/it abandoned him/her as a child
Just kinda strange the amount of negativity he/she/it holds. Must be a paid shill to throw shade all the time.

NEXT:  Like 3dant I was a little nervous about changing anything. But as I found out, I did not have to worry, it was a very smooth transition.
Thank you again David for all your help. Everything is running beautifully!  

lol HNY...so is that your big day?  we'll see 

honestly i really do hope for the best for y'all and we see bay succeed and moon. - for you guys!

just IMHO i don't think it'll go as far as promised is all.

take care.

hopenotlate:
Yes, there is a HIGHLY recommended end date of 1-21-20.
However, the SOONER everyone does it the better!

Whether its the QT or Markets Wallet/Halo everyone needs to do it at their earliest convenience.
I just did my Markets/Halo update on my desktop that I run everything off of, including my staking.

Simply follow David's very good directions and it will go very smoothly.
I read the instructions (above) 5 times before I attempted it; and it was not that difficult.
We've all done updates before, this is not really that different.

So - DO NOT DELAY THE UPGRADE TO CONTINUE STAKING REWARDS.
WHY? ONCE YOU UPLOAD THE NEW CLIENT AND UNLOCK YOUR WALLET, YOU WILL/CAN START STAKING ASAP, JUST LIKE YOU HAD BEEN DOING.

Think of it like the down time you may experience during a computer update or loss of electricity, etc.
You simply have to Rescan and Re-Synchronize the wallet; and viola!, its running and staking again.
Call it growing pains.

Again, EVERYBODY NEEDS TO UPLOAD THE NEW MARKETS AND QT WALLETS at their earliest convenience.
It is super important for the fork, this be done sooner rather than later.

Bottom Line: The sooner everyone downloads; the sooner we can all BE FREE.
So... Get on it, doggone it!

Is there any deadline for the QT update? What happens  if we delay the upgrade of it in term of staking rewards?

There is no risk of losing your stash, just make sure you are upgraded.

If it's the QT update here:
https://github.com/bitbaymarket/bitbay-core-peg/releases/tag/v3.0.0a

The QT just replace the previous QT with the file above and you are upgraded. That's all. Of course always make sure you have good backups.

IF it's the MARKETS/HALO client then download at the links formerly sent. Run the updater. Then rename wallet.dat to wallet-original.dat and then load then new Halo. Then load your two private keys from the file menu(file->open->normal account). Or if you have multiple accounts load each one in any order. Then once you finish loading them it should show a zero balance which is fine, just click the rescan button on the lower right corner. Rescan is different from resync as it just rebuilds wallet.dat. Once that's done you should be up to date. To be clear you don't need new keys. Your two private keys in Halo are your account (key1 and key.private). So just stay with that same account.

I always get a bit panicky when a coin forks, worried i'll lose my stash...so what do i need to do, just click on the update (i have a normal computer windows wallet)
and it does it automatic?, will i need to change passwords, will it create new keys?..sorry if these are daft questions but i don't want to feck it all up on the last hurdle.
and a big thumbs up to the bitbay team

Yes, both the web wallet and a Mac build that doesn't run Wine will be the highest dev priorities aside from maintaining the new build and assisting advising on exchanges and stuff. After that, the only thing left for a completion of everything would be web markets. Still, getting volume into this peg and marketing would be the biggest priority however I agree that without a web wallet it's harder to market to newcomers. And occasionally there will be people who buy and hold and only want to store on web wallet and android.