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Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 43. (Read 542037 times)

jr. member
Activity: 90
Merit: 3
Thank you for getting back so quickly.

I don't know anything about BAYR or liquid BAY or anything else.

Could you back up and give some sort of overview? I am totally lost. You seem to have a full grasp on everything. Is there a White Paper I should read?

Please EILI5.


Also worth checking out:
https://medium.com/bitbay-blog/bitbay-dynamic-peg-faq-8cd257da63fd
jr. member
Activity: 193
Merit: 3
David Z - I think you are right...
When this peg is implemented, who knows how high the price will go?
BAY will be a bona fide safe haven at that point.

Therefore, I'm betting it does NOT go down -  lol.   Wink

I'm a HODL'er, so I'm putting my whole G** D*** stack in Reserve and voting to Deflate / Freeze Supply!
I don't think it will shoot up to $1.00 or more overnight; but it might in a few weeks or months.

This is truly an amazing time to be alive - Cheers Everyone!
jr. member
Activity: 64
Merit: 2
legendary
Activity: 2412
Merit: 1044
Make that "Please ELI5."

https://www.docdroid.net/st3eM7n/dynamic-peg-visual-technical-reference.pdf

This is probably the simplest and best visual representation of what it does. A persons balance is basically a bunch of tiny pieces and fragments that switch from BAY to BAYR or BAYR to BAY at precisely different moments and that is what they send to others and trade on the exchange. BAYR is different in that it moves slower (1 month delay to transfer to a new account). It gets higher interest 1% per year average instead of .5% for majority liquid BAY. Deliberately frozen liquid BAY yields an impressive 2% per year on average.
legendary
Activity: 2412
Merit: 1044
Thank you for getting back so quickly.

I don't know anything about BAYR or liquid BAY or anything else.

Could you back up and give some sort of overview? I am totally lost. You seem to have a full grasp on everything. Is there a White Paper I should read?

Please EILI5.

The information is all over our site. Also the whitepaper is in the downloads page(look up the dynamic peg). Please check bitbay.market. We have tons of articles, explanations, content, etc. After you read that just let me know if you have any other questions.
jr. member
Activity: 64
Merit: 2
jr. member
Activity: 64
Merit: 2
Thank you for getting back so quickly.

I don't know anything about BAYR or liquid BAY or anything else.

Could you back up and give some sort of overview? I am totally lost. You seem to have a full grasp on everything. Is there a White Paper I should read?

Please EILI5.
legendary
Activity: 2412
Merit: 1044
I am just looking for clarification.

The peg has not been released yet. So is the activity presented on dynamicpeg.com just practice with "funny money"?

How is it possible to buy BAYR with real BTC if the peg is not released?



BAYR will never be the same value as BAY. It's speed is slower so it only serves as a future. BAY protects the value of the liquid BAY
coins which in our tests was well over 30 dollars. Also dynamicpeg site uses fake Bitcoins, not real ones. However it simulates real world situations as I believe Craig set the bots up to be more bearish than bullish. People will still buy BAYR at a discount but not as much as you would think because the BAYR can serve as a future and generates higher interest when staking it. Plus it gives them more voting power and thus more control over the economy of BAY. Those are just tests obviously but its a good sign that the tech works.

But basically it's the liquid BAY we are protecting by shifting coins between the two assets.
jr. member
Activity: 64
Merit: 2
I am just looking for clarification.

The peg has not been released yet. So is the activity presented on dynamicpeg.com just practice with "funny money"?

How is it possible to buy BAYR with real BTC if the peg is not released?

jr. member
Activity: 64
Merit: 2
The site dynamicpeg.com has price information for standard BAY and also BAYR, or BAY (reserved).

BAYR is presumably just pegged BAY.

Why is the price for BAYR currently so far BELOW the price for standard BAY? It was supposed to be considerably higher.

hero member
Activity: 1110
Merit: 534
Where can I exchange BTC for BAY right now? Which exchanges?

Cryptopia went bye-bye.
Exchange.me only lists ABY not BAY.
Bittrex delisted BAY
So that leaves:
LiteBit
UPbit
BITLADON

Are these three all still good with BAY?
Is there any other place to swap BTC for BAY?

Thx
LAtoken will support US customers, Chaoex I think does as well and we are talking to 5 others. For now you can buy from anyone in the community by asking on Slack or Telegram and then buy through the BitBay markets client or Bithalo or even directly.


I would like to buy here directly. I don't use Telegram.
I could sign into Slack if is really required otherwise I would accept offers in privat messages over this forum
with amount and price.

Escrow is a must!!!
If anyone here from you hodlers has some to sell, please let me know.

Thanks.

legendary
Activity: 2412
Merit: 1044
So it seems that within a month or two we will have three exchanges online with peg SW: LAtoken, Chaoex and BITKER.

As far as I can tell from CoinGecko there are only two exchanges currently online, neither with peg SW: Bittrex (non-US only) and Upbit. Are there any other exchanges trading BAY right now?

What happens when some exchanges have peg SW and others do not have it? Who wins? Would it be worthwhile to request that BAY be delisted from Bittrex and/or Upbit? It would seem that the higher the percentage of peg enabled exchanges, the faster BAY will rise.

If an exchange doesn't run our peg software they could become insolvent as it's the same as stealing from users (since a user could deposit liquid and get reserve frozen upon withdraw or the exchange could simply get their funds stuck by not running it properly).

Therefore, all exchanges must update for the peg. If not they will be required to pause trading until they integrate properly.

We are currently also on NovaExchange and Litebit. Neither Nova, Bittrex or Upbit have made their decisions on the peg and to be honest it probably won't matter if they delist us. We are optimistic though that they will see the light and integrate, to support new technology because it's this technology that made them rich and powerful in the first place.

Either way, we are going to be listed at Chaoex, Bitker and LAtoken and US customers will be able to use most of those exchanges as well. All 3 have agreed to properly integrate our peg in the same way as dynamicpeg.com
legendary
Activity: 2412
Merit: 1044
In post #6932 dzimbeck wrote, "For now you can buy from anyone in the community by asking on Slack or Telegram and then buy through the BitBay markets client or Bithalo or even directly."

Will these channels be peg enabled? Will it make any difference if they are not? It would be nice if somebody could clear this up.

Yeah all of our escrows in Halo software has been tested to work with the peg. I just need to update it once more for the actual fork.
jr. member
Activity: 48
Merit: 1
it's my understanding that there will be a hard fork to activate the peg and the team will no longer support the non-pegged chain...
jr. member
Activity: 64
Merit: 2
In post #6932 dzimbeck wrote, "For now you can buy from anyone in the community by asking on Slack or Telegram and then buy through the BitBay markets client or Bithalo or even directly."

Will these channels be peg enabled? Will it make any difference if they are not? It would be nice if somebody could clear this up.
jr. member
Activity: 64
Merit: 2
So it seems that within a month or two we will have three exchanges online with peg SW: LAtoken, Chaoex and BITKER.

As far as I can tell from CoinGecko there are only two exchanges currently online, neither with peg SW: Bittrex (non-US only) and Upbit. Are there any other exchanges trading BAY right now?

What happens when some exchanges have peg SW and others do not have it? Who wins? Would it be worthwhile to request that BAY be delisted from Bittrex and/or Upbit? It would seem that the higher the percentage of peg enabled exchanges, the faster BAY will rise.
member
Activity: 155
Merit: 11
https://bitbay.market
https://twitter.com/BitBayofficial/status/1151470212140732418?s=20

We are very pleased to announce yet another new exchange partner for the Dynamic Peg launch! BITKER is a centralised exchange located in Singapore, established in 2017. An exact listing date will be announced soon...
member
Activity: 155
Merit: 11
https://bitbay.market
A recent interview with Munti about the upcoming Dynamic Peg release has just been published on cardrates.com

https://www.cardrates.com/news/bitbay-crypto-holders-help-stabilize-its-value/
legendary
Activity: 2412
Merit: 1044
Shout out to Dave Zimbeck:

Just want to say "Thank You" for always being there to answer the hard questions over the years.
Also want to say thanks for always personally being available to solve the few technical issues and questions that have occasionally arisen.

I am confident of the coming break out and rise in price once this peg kicks in.
I would also have the developers finish the Marketplace ASAP that is in final Beta Testing.
(It looks great; so let's get 'er rolling!)

Thanks again.  Doc

Thanks Doc, our web marketplace dev had some downtime however should be back to work soon. Also remember guys there is always the markets software for escrows and a lot of good niches for that.
jr. member
Activity: 193
Merit: 3
Shout out to Dave Zimbeck:

Just want to say "Thank You" for always being there to answer the hard questions over the years.
Also want to say thanks for always personally being available to solve the few technical issues and questions that have occasionally arisen.

I am confident of the coming break out and rise in price once this peg kicks in.
I would also have the developers finish the Marketplace ASAP that is in final Beta Testing.
(It looks great; so let's get 'er rolling!)

Thanks again.  Doc
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