Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 4. (Read 541841 times)

Looking forward to see bridges being formed and the future of Bitbay!

Well first of all BAY was on 7 exchanges and many of them disappeared. Then we finished the demo peg website dynamicpeg to show exchanges how to integrate our dynamic supply control and then after months of negotiations Bittrex backstabbed us and delisted us because they either feared/censored the awesome peg tech or they were just too lazy to do any work to update for it. It was one of the first times they ever took a coin off international and that costed us their partners Upbit as well. What made matters worse is they didn't even give us a warning so we could plan to have a new exchange in their place. So then we tried to list on 4 exchanges and had our listing fee stolen 3 times costing us many bitcoins(I kept trying to force exchanges to use escrow but they kept refusing causing big arguments so we had to take some gambles) and then the 4th time Latoken took the deal and did integrate the peg and for a while we had volume building and were on Coingecko and sometimes CMC but then Latoken kept having "bugs" and pausing our trading. They refused to let us audit which was totally killing our volume and now none of our users want to use Latoken anymore because they have spent over a year screwing with us by not allowing an audit and constant outages.

BAY is around 60 cents for liquid and 1 cent for reserve more or less depending on who you ask. Remember the peg was implemented so the users may have either liquid or reserve coins depending on their liquidity/shards.

The roadmap was updated recently, it's just most users talk nowadays on Telegram and Discord so community is still very active. I usually am on Telegram, used to be on Slack but everyone moved over to Telegram.

https://bitbay.market/roadmap/index.html

Thats the roadmap, it's still active. BitBay is now making a bridge so it can add itself to all of the DEXes. This will give BAY access to ETH, Binance Chain, Avalanche, Matic, and other networks that have DEXes. The bridge will let users move coins on and off those networks. It's complex because BAY having the dynamic peg would be 10-20x more expensive in gas fees to run on ETH than a normal coin however because there are cheaper networks like Binance and things like ZKSYNC coming we feel the timing is right to make a bridge.

The supply on Tokenview is correct however consider the supply for liquid coins is based on supply index and BAY is something like 99.9% deflated so most of those coins are in "reserve". There is advantages to owning reserve though because it has the possibility of becoming liquid if supply increases (sort of like a decentralized bank)

As for Cryptopia, I have no clue what they are doing. As far as we knew they stole their users funds like so many other scumbag exchanges. Of course central exchanges are absolutely not the responsibility of BitBay which is a decentralized currency. If the exchange for whatever reason lets any effected users file a claim they have to take that up with the exchange.

This is precisely why we are making the bridge to get BAY on the DEXes. By the way, BAY is on Coingecko but because Latoken kept interfering with our momentum they probably don't list the page in search anymore. I'm in contact with them though and when BAY is only like 3 or so DEXes we can just tell them to refresh the listing.

That's great news!!!

Hello, I have several questions,

- Why is BAY not on CoinmarketCap / Coingecko anymore?

- Your website / social networking channels has not been updated for several years / months, roadmap, devs, objective ... Is the project still alive?

- How to buy or sell BAY native?

- How much total supply to this date (¿same like https://bay.tokenview.com/)?

- What position do you take regarding the BAYs that will be returned from the Cryptopia hack in the coming months?

No, not yet. However it's being constructed. Just takes some time to make sure everything is okay.

The bridge is live? What's the address?

Thanks Doc, it's always good to have your support. We have a lot to look forward to this year.
Also the new static site is looking good and we have the bridge to finally give BAY access to the DEXes

Note: The BitBay Team with Alec, Ysurik, David, Craig, Bjorn, Shorn, Aletha, Alex, Giorgos,
Anoxy, Chris, Slava, Bruno, Louise, Matt, Charlotte, Leah, Mantrack, Igors, Akio and others,
continue to work very hard expanding the dream!  Thank You!!!

Winter is coming above and below the equator.
Literally and Figuratively.

DECENTRALIZED BAY Marketplace is here and now... patiently waiting.
And it's FREE TO ALL. Buy, sell or trade anything that's legal, + a whole lot more. A lot more.
Wake Up. Be Creative. Be Free. https://bitbay.market/decentralized-marketplace/

I believe eventually we will get our day in the sun again

Just checking out the Markets Client again. Wow!
BAY is truly an amazing ginormous piece of programming.

Everything is here to completely run a truly de-centalized exchange - and a lot more!  
True Freedom for many people and institutions are right at their fingertips, if they only knew.

Ahhh - But, you have to take a little time and learn how to harness the power of BAY; whilst being honest in all transactions.

Want to invest in the future of BAY?
Become a NightTrader DEX Masternode: https://nighttrader.exchange/masternode/
and
To check out the latest Pricing and Volume Charts for BAY - Go to Coin Gecko: https://www.coingecko.com/en/coins/bitbay

Watching this engineered price action in the crypto markets (it's sooo obvious), is why BAY is important.
I feel like I've seen it all before. Déjà vu all over again.  

Check out what's coming for BAY in winter of 2021 - FREEDOM --> https://NightTrader.exchange

Yeah because they are always down for bugs, we don't really trust them anymore so DEX is just better. Integrating with any central exchanges they have to do custom code and thats because of the peg, the circulating supply is constantly changing and a users reserve vs liquid balances always change.

https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528-pdf

Please read up on how the peg works there ^ and you will see why we have custom code to add to exchanges.

Because most exchange operators are either greedy or unskilled we can't seem to ever get a good agreement with them. So thats why we just go to DEX via bridges.

Yeah we trade on Latoken however they are usually down for repairs so we are doing a bridge to Uniswap and have NightTrader DEX coming. You can buy it for now OTC on Bitcointalk or Telegram NightTrader DEX chat and BitBay channel. Best to join https://t.me/bitbayofficial

Hello Bitbay community, can you tell me how to mine extract BAY and where to buy it?

I don't know, I'm not the one coding it. However I think by the end of the year a very functional version of it should exist. Before launch they have to prepare all of the marketing materials and such as well.

Got it, and what is the timeline again when the full version of what you just explained maybe finally ready to use? It will take a while I presume with all the testing that is required before a full launch?

Not yet however the exchange will be testing trades soon for beta. Alec should have a Telegram set up for updates if you are interested. The first tests are BTC based coins only though and any ETH stuff is added later once everything else is stable.

Unfortunately. The new plan is to bridge over to DEXes with watered down peg. I don't think that will be ready until the end of the year though.