Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 339. (Read 542140 times)

Well, I have met the OB guys they seem really nice. Also I read through OBs stuff and it seems like people set up their own little markets and use a direct ip/torrent system. I would like to be corrected if im wrong on that, i was not able to find so much resources explaining how they decentralize

The way Halo does is definitely 100% decentralized. First of all, your public key is used as your identity so you cant lie to the market. Everyone records what they see as an internal reputation system. The decentralized markets are built on modified Bitmessage channels. This allows for serverless markets. Also, bloat isnt an issue since there is no blockchain in Bitmessage. Instead nodes share messages that they store for 48 hours. Private markets can be created. Its completely anonymous however there is two moderation keys giving us the ability to keep the markets clean. A sort of "decentralized moderation"

OB goes to a lot of conferences. I used to do that with Halo but realized i would rather be building things than marketing. The product will market itself by being awesome.  

I would disagree with that statement.  Especially in an opensource environment often 'first' is the only thing you can ever really claim... because 10 minutes later 'only' isn't true any longer.  Not to mention that a huge amount of the argument for BTC in the first place is that very reason - despite thousands of alt-coins.

The important thing is not to use leverage or deceit to be able to hold on to 'only'... because that is much more destructive to progress than a thousand people all screaming 'first' at the same time.

JMHO of course.

You are right. I wish them all the best.

And as you were stating... It's already happening ->  https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

Granted this has already happened in the past on a smaller scale and failed: http://cryptome.org/jya/digicrash.htm

I think this news will actually work in favor for decentralized coins. They (IBM and Feds) have an "unlimited" (joke) cash resource available to market the system to everybody, and as more people get involved, the sooner the "viral" breach hits. The new users will wake up to the incentive behind the decentralized systems already in existence.
I can't wait to see the day when the Fed reserve (yet again) decides to print out 1 trillion more fake dollars or digital cash and watch the price skyrocket on the decentralized coins.
Heck, who knows, maybe one day cryptocurrency will eventually force governments to actually run efficient for once.

 

Any future update from BitBay decentralized marketplace?

what's the difference with that OpenBazaar?

Thank you very much!

How OpenBazaar is Using Bitcoin to Build a Decentralized eBay

http://www.coindesk.com/openbazaar-bitcoin-build-decentralised-ebay/

What began as an award-winning concept for a peer-to-peer (P2P) marketplace could turn into a revolution in e-commerce.

OpenBazaar is set to take the stage at this weekend's Bitcoin in the Beltway conference, a Washington, DC-based event that will bring together digital currency leaders and thinkers including Charlie Shrem and Vitalik Buterin. There, project maintainer Brian Hoffman will lead a discussion on the much-hyped decentralized market project.

That's so great.

Thanks for the hard work.

A decentralized market place is great.

I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea).

yes I agree  

I fully subscribe to your opinion, especially this phrase

Yes this is true and lack of support for multisig can definitely interfere. One impressive thing about nxt is that its codebase differs greatly from BTC. Different isnt always better though. I would be much more quick to support coins that make crypto easier like Node or highly creative endeavors like Huntercoin. Hell, even Gridcoin never got the attention it deserved. People buy Bitcoin because they worship the dollar and thus BTC has the highest dollar value and the most security. They dont buy Bitcoin because its the "best" coin. If anything, it technologically is one of the worst. Its slow and hasnt included any of the most useful patches since they are afraid to fork. And just like MySpace was replaced by facebook, Bitcoin will be replaced if it refuses to improve its technology. Their "slow" paced improvements on protocol that rely on feedback from part time devs will get slammed once a real serious attack happens like botnet sybil attacks or quantum computers.

Furthermore if a serious company like Facebook or Microsoft came out with a coin (or a country makes its own coin like Venezuela) then perhaps Bitcoin will fall way behind.

On the other hand, ive been talking to some friends and we think Bitcoin may go on another bull run.

Also one of the arguments I had against nxt was it was a "middle coin" and it has been proven that decentralized exchange doesnt need a middlecoin. Examples are atomic trading (once enough coins get checklocktimeverify) or simply Halo microtrading such as in NightTrader.

However, the crypto space is overly competitive as it is and personally i think devs need to collaborate more instead of insulting each others projects. So in reality even though i have my own opinions on coins, i wish them all the best. It gets tiring to hear devs "looking" for reasons to say something negative about other peoples projects. Instead they should be saying "good job!"

Normally, I will openly support projects that have dedicated development. So to all the coins who work hard to develop "good job" and I hope they also see what we do here in Halo and that they clone some of our techniques to make their products stronger. This space will only succeed if we all work together. Because an outside investor can see the toxic environment of bitcointalk and run for the hills (they wouldnt really know the difference of the coins being new to the space).

LOL, Nxt coin is about "the" most complex coin in existence!!! But hey, I guess us layman should suck it up and understand it's rules if we are to respect it. I was lost on trying to learn the maZe of NXT that 10 people or so created and demanded that if you don't stake you will be penalized - on top of it's "asset" spinoffs!!
NXT's future is limited because its structure was created by people who have no concept of a simple, reasonable reality for the basic wallet holder/user.  NXT is for people with PHD's in computer science!"
Why the hell do coins need asset spinoffs?
Bitbay can simplify all that - and I don't need a PHd in computer science to understand it!!

I agree, to be honest, im so busy its hard to look into all the other coins projects. But i wish them well and hope they all succeed. I dont see it as competition at all. Personally, if someone else takes double deposit escrow and makes it used worldwide because they got inspired then i would consider that a huge success.

As for Nxt markets, i know you have to jump through a few hoops to get everything set up. Also, they dont have multisignature nor do they have unbreakable double deposit contracts. So they would still need a good platform that doesnt rely on arbitration. Hopefully soon, i wont be so overworked and can look at what everyone else is working on.

Don't forget Nxt Marketplace (aka Digital Goods Store) in the Nxt core and the Freemarket add-on.
http://wiki.nxtcrypto.org/wiki/Marketplace
http://nxtfreemarket.com/

Each of these projects (BitBay, Syscoin, Nxt, and other blockchain based market places) should know about each other.  Competition is good and hopefully will result in a better over-all user experience in the long run.

BitBay is open for public use, just let me know what platform you are on and i can PM a link. We are in the process of making sure Linux and Mac run smooth and getting a new landing page for the website and then can put a download on there.

I'm looking into Syscoin Blockmarket. This is very interesting project. Can you explain to me how its decentralized? I checked their website and its not easy to navigate. I wish there was more explanation on their project. They don't seem to have any contracts system. Anyways, if so, hats off to them. I know that Open Bazaar was in private tests but no public release.

In many ways, only BitBay and Blackcoin knew this release was coming so soon.

Regardless, BitHalo was the first smart contracts and we've been around for almost a year now (May 29th release). So I can say that these markets that run in BitBay are not only decentralized, but extremely user friendly and have built in unbreakable smart contracts which can be used for sale of goods, employment, barter etc. What excites me is double deposit escrow since arbiters/middle men arent needed. (its 2 party escrow/ true smart contracts)

Anyways, I would be happy to know more about what syscoin had developed. I always thought it was so awesome how they went after that Green guy from Mintpal. If you are friends tell them I said hello and wish them good luck on their project.

Call me a Syscoin advocate, but wasn't Syscoin's Blockmarket the world's first decentralized marketplace?

Or is Bitbay currently open for public use?

The qt-wallet in the OP is the correct version. However you may also test/download the new BitBay client with markets which is different from the qt.

However, the markets client is just testing until we confirm linux and mac are also running perfectly (so far so good).

i still using wallet v1.0.0
forgot that i still have this coin
what version right now

Decentralized markets and yes, you can perform decentralized exchange by microtrading.

Now I'm working on templates that automatically perform those types of contracts to make it really friendly.
Once the templates finish even someones mom can use it and know nothing about crypto.

Using BitBay you can now employ, hire, barter, trade, whatever. There is no servers, no escrow, no arbiters who dispute unfairly
and no point of failure. Totally decentralized however there is several moderator keys and a basic reputation system.

The only templates available are custom templates so make sure to make deposits even to the amount for most deals unless its barter
then make them equal and trade half the value under it. For example, if microtrading make the deposits 1000 and trade 500 at a time etc.

There is technically unlimited kinds of contracts and templates will make it easier to understand all the uses for it.

wow..that's great.

So bitbay has a decentralized exchange platform now?

The part i like the most at the moment is knowing there is a thief lurking in the shadows not coming forward because he has nothing to say and no doubt sulking crunching his fat fingers against his bitcoin holdings.

Just the other day this person was saying how un equipped a certain genius was but little did fat fingers know he was talking to one of the best 

Well done mate proper chuft for you and what you have done 

yes brilliant work david bitbay on the move looking forward to sweet redemption