Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 48. (Read 542196 times)

@shaydinblue - Agreed, the BitBay Exchange is not going away. Period.
Rebranding would be a good thing; however, unless we come up with a better name the developers don't want to change it because of the innate ability for the name BitBay to draw traffic.

This is the most feature rich platform on the market and we are kinda stuck in obscurity.  Hopefully the Asian exposure will help here shortly!

True exchanges don't always last,but clearly Bitbay the exchange is not going anywhere. They've been around as long you and seem to be one of the bigger exchanges in Europe (or were until they moved to crypto friendly Malta last year). Coinmarketcap says they are doing some 10 million in daily volume. Considering that it's hard to see them going belly up and it seems unrealistic to wait and hope for that to happen. They have a logo that is sort of similar to ours and a Google search for Bitbay has them showing up in the number one spot and Bitbay.market showing up 5th. That has to be hurting us as a project in terms of being discovered. It's understandable that rebranding is not in the budget at the moment but I think it's something that needs to be seriously considered as some point down the road, especially as when the project is more ready for prime time. There are several examples of coins that really took off after a rebrand. For example, Antshares gave up their cartoony ant logo, rebranded to Neo and that's when the project really started taking off. Personally I don't think BitHalo would be a good choice, but nothing else is springing to my mind either at this time. Perhaps when you are ready you could see if someone in the community has a good idea. It could literally be anything as long as it's you unique and somewhat catchy. Think about Etsy, that name would have brought nothing to mind before it existed, but now it's a household name because it's the catchy name of a very useful site and successful....

More client issues: So I download and installed the client, imported my wallet and the blockchain has been synchronizing for the last week is finally at 100% today. Problem is I see nothing in the marketplace, it is empty. Are there things for sale in the marketplace and I just can't see them? What's the problem?

Well exchanges don't always last. I suppose we could always rebrand as BitHalo which started it all however that is a software solution that was supposed to be cross-platform for the escrow service and was branded that way. We have discussed other names but honestly nothing springs to mind. Besides, success is the best revenge and it would be nice that it happens with the BitBay name after all we went through. We existed at the same time as the exchange so it is a funny coincidence. I never really understood why they chose that name for an exchange since it's not what I think of when I hear the name. Plus there is the cost of rebranding which is beyond the scope of our budget at the time. Perhaps the peg fork will either force our hand (to keep exchange listings) or bring the funds to have a more serious convo on that subject.

@shaydinblue
I am a big investor and believe in BitBay.market the crypto and the main developer.
Having said that... It can be confusing for the average joe in the beginning.

I've seen two post in this thread recently by people confusing our Bitbay for the Bitbay exchange. I also just watched a youtube video with one of the Bitbay devs and the host mentioned that he originally thought Bitbay was the polish exchange until he really dug in and figured out it was actually a coin/decentralized market with the same name. Is the any plan that will be implemented down the road to address this at any point? Clearly it causes confusion as evidenced by customers of the exchange posting on this thread and who knows how many crypto enthusiasts attempted to check out Bitbay via Google and ended up at the exchange or looking at the exchanges twitter. Bitbay is a cool name, but it seems like a unique name might be the way to go in the long run maybe. Just wondering...

You might be confusing Bitbay currency with the exchange.

Sure, then use some testnet BTC and try and break the peg. It's hovering around 6 dollars.

https://dynamicpeg.com/

What's even funnier is you have nothing better to do than come here year after year. Remember when BitBay hit 45 cents? Only 450 times price increase over 4 years. 

Is there any news about the upcoming crypto debit cards? I want to order one for testing but there is no official announcement, only some tweets.

LOL the dreaming continues..........same shit for years lol, sigh.

new event added:


29 April 2019
BitBay (BAY)
OEX Listing


source: https://tothemoon.live/?IsPast=False&Page=2&Month=0&Year=0&SortBy=0

@dzimbeck - Thanks for responding again and answering all of my questions. It's really awesome that the lead developer of a project engages with the community so much. I also really appreciate that the goal of your project is to propagate freedom and defend basic human liberties, everything is extremely well thought out in that regard. I've been a Bitbay supporter/investor for a long time and I feel more confident in Bitbay now than ever. I look forward to seeing the all the pieces fall into place when the peg goes live.

Happy Bicycle Day...

The users are the ones who self-moderate (they can flag orders) and they can share a moderation key. It's their own responsibility to respect the request. Because it is peer to peer and decentralized similar to the internet, it's not really possible to know what is going on in every corner of the internet. If users didn't respect the request it would have made the job of development harder. However there isn't really an authority. Instead users themselves can volunteer to try and keep the markets they are aware of within the community guidelines. And you are correct in saying laws vary from place to place and thus it's up to the peer to be aware of this and perhaps even reflect this in their offer (only taking clients from X country).

Also to respond to your other point that nobody wants to sync to use markets. The markets are based on Bitmessage so there is no syncing per se. However there is a delay for seeing orders. Also because this is a tool without servers and resistant to censorship, this will be relevant to anyone who is hard core about having their sovereignty and privacy which is something that I think web based markets won't be as good at doing even if the servers are somewhat decentralized. It will always be here as long as there is internet and open source even in 100 years as a tool to defend basic human liberties.

@dzimbeck - Thank for the help, I got the client working. The only thing i did differently was run the exe file as an Administrator. It's syncing, at 40% after a two days... I'm looking forward to seeing the client marketplace in action, but glad you guys are working are developing the web market, as I think that's going to be where it's at in terms of mass adoption. Not a lot of people I know (even the really slightly techy ones) are going to be willing to wait for the client to sync after installing and then keep it running all the time just to keep everything up to date, especially if they are only trying to buy something or browse the market occasionally... Overall, Bitbay has a very bright future considering the power of the free, trustless market and the dynamic peg combined. Looking forward to seeing everything come together and beginning to be used.

A few questions I did have: On the client there is a warning: "Do not post illegal content to the market or you may get blocked."
I can understand Bitbay not wanting to turn into a decentralized, trustless silk road-type dark market, but who is the authority that gets to determine what constitutes "illegal content". Bitbay is a global decentralized market, so how can any local standards be applied to determine what is illegal and what isn't when each country/state/county/etc... has completely different standards? Technically, isn't whoever determines whether content is legal or not and does the blocking a central authority? Who is that authority for Bitbay? How can anything truly be considered decentralize with a central authority involved?

The openssl prompt might have to do with BitMHalo (Bitmessage) not starting. The problem might be that you tried to install to Program Files or a directory with lower administrator privelages. Just install to C:\BitBay. Also it could be anti-virus interfering with peer to peer software. In that case, disable it. The desktop client has a "wall of features" that you can sift through at this link:

https://bitbay.market/wall-of-features

All of those are complete, the entire software is complete. We are simply working on a web version and the peg exchange demo to help exchanges understand all the code required to run it.

@shaydinblue - Great to have you on board!  Try using Google Chrome for your download; I have never had any problems using it.

Again, because it's so awesome and just posted yesterday (opening up of the Chinese & East Asian Markets!!!) - this is for those who are paying attention and can buy BAY at 1 (ONE) Friggin' Cent before it starts to dramatically go up - whoever sells now is out of their mind with so much going on (The Peg, The Marketplace, OEX, etc.) https://bitbay.market/decentralized-marketplace:

From bitbaydev - After a couple of months with “technical difficulties” OEX has finally prepared our listing announcement:

https://www.oex.com/noticeInfo/95

“BitBay (BAY) is launching on OEX.com

Launching Time : 28 April 2019, 11:00 (GMT +8)
Deposit Time : 28 April 2019, 11:00 (GMT +8)
Trading Time : 29 April 2019, 11:00 (GMT +8)
Withdrawal Time : 30 April 2019 11:00 (GMT +8)
Trading Zone : BTC”

@dzimbeck - Thanks for the detailed answers. Awesome that Bitbay is thinking about finding other ways to deal with spam other than fees. I was not aware that the downloadable client was even more feature packed than the web market, that's excellent. When I first got into BitBay I attempted to download and install the client on my Windows 10 machine, but kept getting a reoccurring OpenSSL error that I couldn't figure out despite a moderate amount of looking for a solution on the BitBay forums. Around that time I took a break from crypto for a while so I never did find the solution and actually get the client working on my computer. When I returned from my break the web market was being rolled out, so I just went straight for that and as I said I am very impressed. I am going to try to download and install the client again, hoping that OpenSSL error has been fixed and I can install and check out the client. This is great project and you are doing a great job leading it.

@BitBayDoc - Thanks for the answers. I know the bad actor scenario I brought up is highly unlikely, was just wondering what would happen if someone tried it. Seems like everything has been well thought out and planned for. BitBay is going to be amazing...

@freigeist - "What prevents the evil large player from creating multiple new accounts to scam people?
That way he will always have a new clean record or not?!"

If someone wants to spend their valuable time on earth scamming people, creating new multiple accounts, loosing their deposits, etc., I think Bay will eventually be a waste of time for any scammers/bad actors - why?

1. Just because this process of buying and selling may initially start out as anonymous, it certainly doesn't have to end that way.  For example, if I wanted to buy a large ticket item such as a car, I would have to eventually know the persons name, address and phone number to complete a Title Transfer.  Same with Real Estate. All of the sellers information can and should be obtained and checked out BEFORE completing any large deal on any platform (Craig's list, Ebay, etc.) - Right???
2. Again, this is about FREEDOM.  The buyer always has the upper hand and is free to ask that any requests be fulfilled before completing a deal.  If the seller doesn't want to complete a reasonable request for verification, you have the freedom to walk away and not be scammed.
3. This platform is like any other marketplace except its FREE with NO MIDDLEMAN, and CAN BE ANONYMOUS to sell anything.
AND, both players have to have some skin in the game to play (Bay's Double Deposit Escrow) - if that's what both players agree to.
4. One may also utilize a standard contract, with standard safeguards, that are admissible in a court of law if the deal goes sideways.
5. Like any other business transaction in the real world, common sense must rule.

What prevents the evil large player from creating multiple new accounts to scam people?
That way he will always have a new clean record or not?!

Hi, I think you may have us confused with another platform? We are BitBay.market. No Skrill payments or fees required here 

hello sir, I pay bitcoins through your payment gateway to skrill. I don't understand the fees system. You have set your fees and when I am sending, I pay the fees myself instead of deducting it from the fees you have already stated. Is this normal?