Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 357. (Read 542094 times)
January 14, 2015, 07:35:02 AM
It would start with pegging a little early so we showed investors stability for their finances when Bitcoin is like a rollercoaster right now. It would be a great chance for BitBay now...
January 13, 2015, 04:02:53 PM
l still keep my bays since ico and have no intentions to sell some an other year.again Thanks David and rest 
January 13, 2015, 03:54:10 PM
January 13, 2015, 03:50:12 PM
i am new to bitbay
bought some when ico started on bter
These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.
Just sayin
it must be one of David's shills running a muck!
January 13, 2015, 03:48:34 PM
i am new to bitbay
bought some when ico started on bter
These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.
Just sayin
January 13, 2015, 02:44:55 PM
i am new to bitbay
bought some when ico started on bter
These two statements don't seem to square. If you bought it in the ICO then you couldn't be any "older' to Bitbay.
Just sayin
January 13, 2015, 11:08:32 AM
Well the current release works on most of the computers we tested on considering we had a few thousand downloads and only a handful of people not able to run it. Mostly because of openssl. The reason Giz wasnt able to run it was because he is running windows 8 and we need to test for that.
But Kevin, you should let me know if we can screen share at some point so i can troubleshoot your error as well.
But Kevin, you should let me know if we can screen share at some point so i can troubleshoot your error as well.
January 13, 2015, 11:04:58 AM
Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.
It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
The pegging story makes sense to me, but the first priority imo would indeed be a working Windows client no matter what version is being used.It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
Yep lets first fix the current release, then look at MAC client or smoother UI.
The pegging can come later , but is 1 of the most important things.
January 13, 2015, 11:02:29 AM
Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.
It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
The pegging story makes sense to me, but the first priority imo would indeed be a working Windows client no matter what version is being used. It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
January 13, 2015, 10:50:38 AM
David thank you for the positive words. It's very interesting for future investors...
January 13, 2015, 10:19:06 AM
Hey lots of comments, thanks everyone for the support and encouragement. As for the pegging what some of the other community members said was correct. The new model we are looking at is more democratic allowing voting on deflation and inflation rates from the fork. The fork itself will cause X% to become reserve. Perhaps anywhere above 90%. From there you set either inflation from reserve to liquid or deflation from liquid to reserve. So that will allow a much more dynamic market where price and supply can match consumer demand.
It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
It seems that an investor would want to see the price grow and the way to do that is with deflation. Then if the price gets too high we vote for inflation. This also means its much less centralized. NuBits totally is centralized relying on only one exchange primarily and custodial wallets. We can let the wild forces of nature give the price a lot more play for traders and at the same time we can deflate the supply so price can match demand. This makes for some really interesting arbitrage. Additionally, it protects the coin from having a central head or liability. Voting is a good way to put the power in the hands of the users. I might want to take a majority vote from the voting address itself in the beginning to avoid market manipulation(making a consistent deflation). And eliminate that majority after we hit that first target.
So even 1 cent is a very good target for the next 4-5 months. If we hit that level, and can continue to deflate we can grow gradually a few percent at a time.
But anyways, we arent there yet. The topic of the next month will be linux/mac/windows 8 and markets. One of the troubleshooting i did today was with windows 8 and apparently i might need a specific build or make a few changes to our build. Also, for some windows 7 users, libeay32.dll isnt sufficient and they would need to install openssl. I'm going to consider how to make that more user friendly.
January 13, 2015, 07:43:52 AM
Make multiple secure backups of your keys (encrypt the backups). I store mine on an encrypted drive and two USB keys - learnt my lesson when I lost 100K BLK through not keeping multiple backups.
Actually in the wizard i recommend two backup methods. Emailing your keys to yourself and using an optical drive. Like a DVD. Because old hard drive backups will fail and expire after a couple years. It happened to me and i lost an immense amount of data. So DVDs dont expire especially m-discs. Also another way is to print out the contents of the file on a piece of paper.
Encrypted and sent by email as well - but DVD will also be good
January 13, 2015, 07:40:48 AM
when I lost 100K BLK through not keeping multiple backups
Ouch.
That must have hurt a bit.
It did :/ - but I am over it now and bought some more
Taught me a good hard life lesson though..... January 13, 2015, 07:24:48 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
that's how I would prefer it. Pegging it to $1 straight would cause people to dump. If we peg it to lets say .01, then .02 then .10 so on and so forth we'll be getting new investors even after we peg. Someone who buys at 0.01 would wait till hits 0.02 and then there will be buyers who wants it at 0.02 because they want to cash out at 0.03. Market will be more stable this way.
Increase $0.01 each month until we reach $1. That would give us a lot more visibility.
This is a good idea. It would issue a statement about this method of pegging to new investors...
It was already planned to be like this.
An peg with slow increase, somewhere in this thread it has been discussed
. January 13, 2015, 07:23:34 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
that's how I would prefer it. Pegging it to $1 straight would cause people to dump. If we peg it to lets say .01, then .02 then .10 so on and so forth we'll be getting new investors even after we peg. Someone who buys at 0.01 would wait till hits 0.02 and then there will be buyers who wants it at 0.02 because they want to cash out at 0.03. Market will be more stable this way.
Increase $0.01 each month until we reach $1. That would give us a lot more visibility.
This is a good idea. It would issue a statement about this method of pegging to new investors...
January 13, 2015, 07:05:04 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
that's how I would prefer it. Pegging it to $1 straight would cause people to dump. If we peg it to lets say .01, then .02 then .10 so on and so forth we'll be getting new investors even after we peg. Someone who buys at 0.01 would wait till hits 0.02 and then there will be buyers who wants it at 0.02 because they want to cash out at 0.03. Market will be more stable this way.
January 13, 2015, 07:00:28 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
that's how I would prefer it. Pegging it to $1 straight would cause people to dump. If we peg it to lets say .01, then .02 then .10 so on and so forth we'll be getting new investors even after we peg. Someone who buys at 0.01 would wait till hits 0.02 and then there will be buyers who wants it at 0.02 because they want to cash out at 0.03. Market will be more stable this way.
Increase 0.01 each month until we reach $1. That would give us a lot more visibility.
Yes, then people will see BitBay as an way of payment and investment with interest.
January 13, 2015, 06:57:05 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
that's how I would prefer it. Pegging it to $1 straight would cause people to dump. If we peg it to lets say .01, then .02 then .10 so on and so forth we'll be getting new investors even after we peg. Someone who buys at 0.01 would wait till hits 0.02 and then there will be buyers who wants it at 0.02 because they want to cash out at 0.03. Market will be more stable this way.
Increase $0.01 each month until we reach $1. That would give us a lot more visibility.
January 13, 2015, 06:31:26 AM
brilliant work david everything falling into place now great looking wallet bitbay is the future
c'mon.It is crypto world not Paris or Milano.There is no room for "greating looking". This David is the dumbest Asian ,I guess.
January 13, 2015, 05:51:42 AM
Hi guys
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
I could have some prospective big investors, but need a roadmap for the upcoming year...
Thank you
Roadmap:
Next up is windows and Mac clients. Then markets. The target is one month but may take two. After that I release NightTraders microtrader for blackcoin. And also will do pegging and cold staking all the same 1-2 months. So total should be 2-3 months target. If there are any delays it shouldnt be so much.
Not at first, most likely a much lower price than that... but the plan is to peg it to SOME value. Likely $0.01 or less at first, then increasing as time goes on.
Jump to: