Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 374. (Read 541841 times)

Ill pass this contest to 2 friends who are good at this .

Good to see some community challenges!

New Logo contest for BitBay
We plan to rebrand bitbay project.

We have 1 million baycoin(about 0.6btc)  bounties for our new logo contest winner.
First winner will get 0.5 million bitbay
Second winner will get 0.3 million bitbay
Third winner will get 0.2 million bitbay.
community will vote for this.
The contest will end at 10th Jan.

Design Brief

We are looking for something possibly abstract to represent BitBay which is both our currency, and also a decentralized service set that can enable blockchain based service, such as decentralized marketplace and decentralized smart contract applications.

We looking for something that can double as a logo for our decentralized service and a symbol for bitbay currency.

Good luck !
Thanks for your support.

you can post your logo in this thread.

Keep it up David.
In the long run you can deliver . Community supports you so take your time to make some thing really big. 

What tool so you use to integrate the python and c++?

Looking good David!
Thumbs up, once the Marketplace is up thats why i believe in this coin just like you love freedom i like it also investing in your believe is way the go
are you also going to put up a review system based on wallets?

Its very easy you have a vote on increase or decrease of interest every 500 or so blocks.

They vote by paying to a voting address 5500 satoshis(the network minimum) perhaps one vote per address. It can for example be calculated based on balance of the sender like staking. Then the small 5500 satoshi votes are added up, they have the vote in the script or 3 different addresses are used.

The increase and decrease in interest for example can be like .1% for every 500 blocks. Obviously this can compound really fast so even that can be too high

so its +.1%
or     -.1%
or     even/not enough votes

Elegant, right up to the part about miners counting votes. How would that be implemented?

checklocktimeverify also allows parking as an elective to tighten supply more and it means i can do Halo escrows in one beautiful TX

On a protocol level I have been deliberating over a few ways to do it. Basically, you make the first rule a mining rule that makes it so transactions before the fork are all conditionally frozen to spend X% of the input.

Then the transaction is tagged much in the way a colored coin is tagged.

So, you can use checklocktimeverify to freeze the funds as a requirement, although i think that is overengineering it maybe.

Possible other ways are to tag it with a required script with a special meaning in OP_RETURN

another way is to require a script in the transaction that would be redundant, but meaningful to miners and require it in order to color the coin.

Shit, you can even burn an encoded coin as a requirement.

Then, you make the miners require you pay X% back to yourself as change and freeze it in the input (if it is deflation)
Or, you allow spending X% of the frozen input to any external address to be marked as liquid (inflation)

Also, any coins that stake must be forced to either freeze or include a script.

Then you can set a hard % from the fork. Lets say 10% of the supply becomes liquid. So 100 million liquid coins.
Any input before block X can only spend 10% in this example.

Then, in order to set the network variables we have two options and im leaning towards voting.

You set it so, simply pay coins to a voting address which gets counted every X blocks. Its possible to give a "master key" by letting one vote count for more. Or just make it purely democratic.

That vote determines if we are inflating or deflating.

Now, in order to peg, we just need to make sure the inflating and delfating amouns match the market price. However, i do like the idea of growing the coins value. So maybe we can just vote on deflating slowly for a while so the price can rise and put a buy wall below it. Its really up to you guys. Since there is a few people with a lot of coins, ironically it can keep a lot of coins off market too which i think is actually nice in the beginning.

miners would have to count votes and keep track of the rates for all the blocks. so the miners properly enfore the mandatory scripts.

Yeah im not using trading bots its purely control over supply and demand. And most likely a buywall. There will probably not be a sell wall because I dont believe in custodial wallets although we can discuss it after the fork.

I think you are misunderstand the wallet peg. Because python is high level language, its easy to prove the concept in the wallet. The wallet can read the scripts the same way miners do. But it is not at all what i will be releasing. Think of it like a "testnet"... where we dont need to fork to try out new rules.

Then after im sure there is no way to use checklocktimeverify to hack your way out of having assets frozen or liquid, i can make it a hard coded rule.

As for the c++ implementation. I can use the same libraries for scripting in c++. Also, I use daemons to communicate (aka blackcoind bitbayd) so those RPC calls refer to libraries in the program itself.

Also, I do have some c++ experience granted years ago when i was in my teens. I'm self taught Python and from everything I've learned, reading the bitcoin source isn't too hard.

But yeah having a c++ guy on board would be nice. Its not needed. When I set out to do something, I do it. That is how Halo got built. I was determined and did lots of hard work.

With that said I'm in discussions with a guy who thinks he can port my python to c++ as a hard coded mining rule. My guys went out and looked for devs but so many of them are wishy washy. So I'm going to code everything I have to get to our milestones and go from there.

As for the "email tipping" update, its because I'm doing a major BitHalo release with a new UI. So this is basically the last few features that are not markets. So email tipping, sending to multiple simultaneous addresses (useful for joint accouns and tipping), automatic signing of joint payments (really useful for hackproof wallets), first time user wizard (completely needed for everyone who is new to Halo to set up email, wallets, everything)

When thats done, I can finish the markets. Bitmessage is already in the client so to get the markets coded its mostly very UI and template heavy. And i can give periodic updates.

If you want, i can explain in depth how the pegging is done from a scripting perspective.

So David, can you ELI5 how you are going to peg bitbay with wallet transaction scripts?

I wouldn't loose too much sleep over the dropping of one of Bob's 'shoes' if I were you.

let him to be forgotten in dark and lonely,he will die bits and bits everyday and every second until he faces the real punishment.l curse you! you ll be hunted-down.

Yawn, yawn Duskes, hurry up and get on with it........is there really anything of value that you can add, or that anyone is actually interested in - or will believe? Hurry up and move along to your next scam. Oh, did you enjoy your Xmas private jet getaway with the btc you extorted?

You are without a doubt the dumbest person i have ever been unfortunate enough to meet on forums, you literally make me ashamed to use this shitty forum. You do realise other than the idiots you pay, people see mumble mumble? look at me in my play ground! Look at me LMAO! Dude get a grip.

I am mentally ill Robert Duskes i am meant to be a full grown man but i like stealing and playing in my 'playground' You should be really proud of yourself robert your IQ of a ten year old at best! Need to pay people to be your friend loser and they are just waiting for a better offer as proved recently without the better offer.

Your rude awakening couldn’t come sooner   

Oh really???

Just wait for that shoe to drop!

Absolutely there is. But its such a highly controversial thing to do. For example, do you remember when Vericoin rolled back the blockchain?! Lots of people said it went against everything crypto is about.

On the other hand this is a totally different situation. I personally do not care if my Bay is stripped since it was simply part of Steves offer. When it was offered i thought they would buy it with real bitcoins and those bitcoins would also go to development. Obviously that isnt what happened. And I think Bob dumped most of his coins. But there really is no telling if he or anyone from his group rebought. And since its so much further down the blockchain, I don't think we can know what anyone has anymore.

I'm still not following, NuBits is using trading bots on every exchange to keep the price stable near $1.00. bitUSD traders expect it to be near a dollar so they trade it on the exchanges in a way to keep it near a dollar. Both coins are Market Pegged. Neither is Wallet Pegged. A coin is a store of value, but the wallet doesn't know that or care. What do transaction scripts have to do with pegging the price? Why would you need to test pegging in wallets? My wallet doesn't care how much USD the incoming coins are worth. To peg bitbay you have to control the exchange price, I would think. Also, be careful thinking you can port python code into C++. It may not be as easy as you think, especially if you really have no knowledge of C++.

wow huge stash

how many btc have you used to accumulate this amount?

btw david

was there a way to strip the scammers of their bay?

Spreading the news about BitBay is really important for growth.
Hopefully our official twitter will become active soon.
https://twitter.com/BitBayProject