Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 51. (Read 542094 times)

That's right! Now we need to get the word out. It's possible the majority of the crypto industry doesn't see yet the power of these simple tools. When will they notice?!

What is Bit Bay Really?
(From the BitBay Dynamic Peg Overview)

"BitBay is the world’s first peer-to-peer, decentralized contracting platform.
Everything from household items to real estate have been bought and sold using BitBay’s marketplace, all without any third-party involvement.

We are proud to announce a brand new method of price control for BitBay (BAY), one that has yet to be seen in the stablecoin industry.
It’s called the Dynamic Peg. With this system of liquidity control, BAY now serves as both a store of value, and a medium of exchange for users. It stimulates organic trading volume, increases potential profit for investors, and creates price stability for our p2p marketplace.

It is purely decentralized, non asset-backed and most importantly, a democratic system. The Dynamic Peg reduces volatility, without anchoring the price to any one point. Through a secure Proof of Stake 3.0 voting mechanism, stakers can now collectively adjust the liquidity of BAY’s total supply. This creates three balances for users: Liquid, Reserve and Frozen..."

To learn more go to:
https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf and https://bitbay.market/decentralized-marketplace

Read all the latest news and project updates from the BitBay team:

In this update:

- dev team updates
- a new foundation
- a new structure
- web markets beta v0.3
- dynamic peg demo testing

https://medium.com/@bitbay/bitbay-community-update-4th-march-2019-616ffbf7422b …

Enjoy!
Shorn

Yeah we need to sort out this bear market first and get on board with exchanges to run this thing. That's why we are making the demo exchange so they can see how we implemented it.

The Peg is more important...
Good Move.

I mentioned something about it, we had to make cutbacks during the bear market so our web deb is working on some of the peg exchange integration and has to make time for it.

How hard can it be to fix the Staking Calculator?
I liked using it to calculate my immediate value of Bay in US$.
Everything else is working quite well, why have a link on the website that doesn't work?
Either fix it, once and for all, or remove it altogether.

thank you for clarification

It's a good community. Also with the peg in testnet and the work on the exchange we will have the only coin in the industry with a dynamic supply. Not sure why the mainstream has not noticed this yet. Most of our challenges will actually be negotiating with exchanges and promoting. Once we get even a single decent exchange signed up for the peg it is game on!

The only relation was I started with BitHalo and needed an altcoin for speed concerns. So I chose BLK because it was the only POS coin that was 100% POS since Peercoin was POS+POW. Later on I took BitBay because it was the first normal looking project I was offered and my projects were free open source ones and I didn't really hold a big position in BLK. The rest as they say, is history.

I still maintain the BitHalo and BlackHalo code base. The majority of any blockchain improvements I do are here though... such as the peg.

does it exist any relation between  BLK and BAY currencies outside of the same dev dzimbeck ?

This project is starting to look awesome.

The whole crypto-asset market is now jostling for position and starting to weed out scams from survivors. Two things are defining what separates one from the other:

 • inspired ideas supported by dedicated developers and communities
 • genuine use cases

Over the last few months I've been looking for things to ditch because I need some losses to offset tax liabilities.

I've been ruthless in that regard, however....Bitbay is now a definite hold. Not just for economic reasons but for the reason I got invested in the first place - to be along for the ride while watching an entire commercial and social dimension change shape.

Hey all,

We've just been testing some peg-related functions on the demo exchange and I am pleased to report we have now got some important API transactions working successfully.

This is awesome to see as there were a few issues that needed to be resolved for this to work reliably.
The next API functions on the list are deposits and withdrawals and that will allow us to start the next phase of testing early next week.

I'll have some more peg-related news on Monday in a new community update, and hopefully be able to show you a more detailed development roadmap too.

50 cents would be just okay  for what bitbay can achieve with even modest adoption/support. 1 dollar would be a useful figure but even that is not anywhere near the limit of what we should be aiming for long term.

We just need some decent size power sellers and reshippers on board when the web marketplace and peg are bug free and easy to use. I do not see that being that far into the distant future.

No we won't be listing there, not until they're proven that their exchange is secure (their site had some basic security errors last time I checked).

thanks for the update...

Nice progress being made now.

still amazed people are selling this at this stage

Most recent update on BitBay's development:


BitBay Community Update — 15th February 2019

"Hi all,

I have finally found some time to write a quick community update and my apologies for the delay in getting this out. It’s been a busy week (as always!) and with the release of some bug fixes and feature updates for the web marketplace, there has been a lot of testing to get done.

So without further delay, here’s what we’ve been up to and what we’re doing next …

Web Marketplace
The web markets v0.2 was released to the beta testers in slack. This update saw a few small but annoying bugs fixed, including the issue with trying to buy an item while another blockchain transaction was pending. I’m happy to say everything seems to be running very smoothly again now.

A major feature included in this latest release is the email notification system for all important transactions on the marketplace, keeping buyers and sellers up to date on the progress of their trades. We also introduced the requirement that all buyers and sellers entering into a contract have a verified email address on account, making it easy for the other party to contact them directly.

We also made some minor changes to the navigation system to simplify the flow for users who have bought and sold items.

Our next major release will include the ‘live update service’ (beta v0.3) allowing all contract data to be updated in real-time without the need to refresh the browser and more improvements for mobile and tablet devices.

Once the live update service is tested and release we will be working on a new live chat system enabling real-time conversations between buyers and sellers without leaving the marketplace. We will also be introducing the live escrow-dispute feature to further enhance the DDE process for users.

These are two very important releases as they move us a big step closer to the first ‘open public’ beta. This open beta will be a fully-featured web marketplace including improvements based on the feedback we get from the BitBay community.

Dynamic Peg
After successfully completing the development of the new BitBay Qt wallet in preparation for the mainnet release of the dynamic peg, our blockchain and Qt developer Yshurik has now joined the exchange integration team.

This week saw a lot of progress with some major bugs being fixed, and live calls being made between the BitBay and exchange API’s. We are getting close to being able to test the live trading on the exchange with BTC/BAY and BTC/BAYR pairs (where R = reserved).

Next week, in the interests of transparency and keeping the community updated, we will be releasing our development roadmap for the peg so our community can see exactly where we are up to and what is left to do.

As always, the team would like to thank our community for their continued support.


Until next week,

Shorn
Project Manager @ BitBay"

Dev Team - The Staking Calculator link needs a look.
Thanks

@Blakebad:
Re: Hey man are you on the Slack, telegram or discord at all?

No, I signed up for discord a week ago but I haven't used it.
This Forum is about all I have time for as I try to put a lot of thought into what I write.
If you have a question for me, ask it here please. Thanks

It depends on if the exchange will run the peg tracking software. Also I don't see them on coinmarketcap?!