Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 55. (Read 542094 times)

From Doedz:
TESNET BitBay?  -  I think you mean TestNet, with a “t”.
Oh no !  -  OH YES!  Become a part of block chain history…

From BitBaydev:
Come and test drive the Dynamic Peg!
The world's first fully-decentralized stablecoin protocol is now available on the new BitBay testnet.
Join us in Slack using this invite link: https://buff.ly/2QpBM5o

“I don't want to follow things from all Altcoins, Bitbay do you think is good isn't it?
Altcoins are still altcoins that can only be runaway from other altcoins. LOL”
     @Doedz - Your words make no sense. LOL

“Bearish markets like this are better at 10% HODL Bitcoin and 90% HODL FIAT. LOL”
     @Doedz – markets like this are the best times to invest. Business 101.

My recipe for success is:
     30% HODL BitBay; 30% HODL Precious Metals; 30% Commercial Real Estate; 10% Fiat.
     And... A Day J.O.B. with a 50-60 hour work week.

Bit Bay is way, way undervalued...  I'm really starting to think about that peg launching, it's been a long time coming.
Even without the peg Bay should be valued between $0.76-$1.38 with all the features it has right now.  
Once the peg launches, who knows - $1.00-$2.00 in the beginning?  
Once people realize Bay exists with all its working features, it should be one of the leading Altcoins on the market.

TESNET BitBay?
Oh no !
I don't want to follow things from all Altcoins, Bitbay do you think is good isn't it?
Altcoins are still altcoins that can only be runaway from other altcoins. LOL

Bearish markets like this are better at 10% HODL Bitcoin and 90% HODL FIAT. LOL

HODL is the best option for bitbay. Wait for the peg to be launched thats where mass adoptation starts. Have you joined testnet?

Even for January 5 2018 the price is up to 2300 Satoshi. Awesome!
But for now, let alone to trade with BitBay because seeing the price is just sad. LOL

Maybe it's more HODL for the long term, I don't know!

Went to 3000 sats last year bull run.

I think the term "unlock" was used to describe future potential.
That was not the best use of the word in the article title, in my opinion, but I understood the idea trying to be conveyed.

"Unlocking" cryptos in the MENA region is another way to say "opening the door" to cryptos in the MENA region.
If one "opens the door", that is metaphorically opening the door to the possibility of something new to enter.  

In this case, Bay provides tools to unlock the regions potential (as well as ALL regions around the world, not simply the MENA region) to break free of a debt and credit based banking system.  A creative individual could start their own marketplace with one (1) computer, using barter in a region where not everybody has the money or influence to start an independent private business or receive a traditional loan.  

I think the article simply wanted to highlight another area/region on the globe that could benefit from Bays many FREE De-centralized Features: https://bitbay.market/wall-of-features.

The Bottom Line - Bay lets you be your own Central Banker.  
Think about what that means...
https://www.youtube.com/watch?time_continue=1&v=fge5inFWlkc

Which may ultimately lead to the following:
https://www.youtube.com/watch?v=R7yfISlGLNU

LOL
Finally, the development team itself said that BitBay needed time to rise in price.
Just seeing memories in February 2015, at that time the price of BitBay was only 15 Satoshi.

Now it still has a price and 234 satoshi was first launched in 2014.

This up and down... up and down in the market...
Really tiring.

All the more reason Bay is needed.
And right now it's less than ONE Penny!!!  What's wrong with that picture?!?
I've bought as much as I can.

Bay is like a USD or TrueUSD Coin in an Ebay, Alibaba type DE-centralized market place.
It's built for speed (really fast) and safe to get the transaction successfully completed for both parties.  
A win-win for the planet.

It's only a matter of time...

Note:
MENA is an acronym for
Middle East North Africa

As-Salaam-Alaikum! Peace Be Upon You! God Bless!
To my Muslim, Christian, Hindu, Jewish, Sikh and Buddhist Brothers and Sisters.

In my personal opinion Legitimate and Decentralized Block Chain is a gift from God.
It's all on the individual spirit and their divine creativity to succeed in life without constraints.
Happy Holidays!

Could use-case be the key to unlocking crypto in the MENA region?
https://bitbay.market/blog/cryptocurrency-mena-region

In my opinion BitBay should be Shariah compliant as there is NO usery involved and NO middleman skimming off the proceeds.
Just the simple fact that there is no usery, should make Bay especially desirable among Sharia compliant Muslims.

BitBay is the First Decentralized Crypto Marketplace Coin in the world; and is positioned to be the first Alt Coin to open up the entire MENA region to Crypto use (if they so desire).  The peoples of the region don't need a bank account or a credit card to start using Bay as a profound verifiable means of exchange that is trusted (or trustless). 

Everything is in place for the Entrepreneurial Spirit to prosper and flourish with Bay.

Be Free

Come and test drive the Dynamic Peg!
The world's first fully-decentralized stablecoin protocol is now available on the new BitBay testnet.

Join us in Slack using this invite link: https://buff.ly/2QpBM5o

Great to see BAY holding its value against Bitcoin through the storm. One of the very few that have done so and now seems to be starting to gain on it as the bottom (BAY/BTC) is being well and truly baked in.

The early "capitulators" will also be the early risers and the market will soon start to sift through the wreckage to find which projects are still active in terms of  fundamentals.

BAY/BTC OBV indicating substantial accumulation at every dip.

Thanks Doc for the posts! Yeah we have exciting times ahead. We are so far ahead in terms of completed software it's incredible. With the peg exchange demo coming people will finally be able to see what's coming after the successful tests of the peg.

This is where Bay can really shine; as it can do this NOW and do it SAFELY using:
Advanced sending with multi-pay options and Automated Joint Accounts in its Client.

From: https://bitbay.market/blog  12-3-2018
CAN THE OVERSEAS MONEY TRANSFER INDUSTRY BENEFIT BY ADOPTING BLOCKCHAIN?

Globally, around 230 million individuals send around $500 billion in remittances to their home countries each year. Within the industry, the older players such as MoneyGram, Western Union, and Ria still account for around 25% of the global remittance volume.

While several FinTech companies such as TransferWise, CurrencyFair, WorldRemit, and InstaReM have transformed the field to some degree, blockchain may well disrupt this realm further.

Gav Smythe, the founder of iCompareFX, opines that “the global remittance market as we see it today might well be gone in the coming decade, with blockchain having the same effect on overseas money transfers that the internet had on cross-border communication.”

TO LEARN MORE: https://bitbay.market/blog/overseas-money-transfer-blockchain

From DZimbeck 11-27-2018

Also the builds are uploading version 1.36 we will update the version number to trigger automatic update tomorrow or the next day so people can download
and test it. The Linux build is fixed and tested. Any support requests can be posted on our forums. This build has the exchange tracker so now we will start to build the demo exchange trading pairs and then probably run a testnet so people can have fun trading it while we get exchanges to adopt it.

From DZimbeck 11-18-2018
Right now I'm testing the exchange peg code and making some sample API calls so anoxy can start to build a demo market we can trade on with testnet version of our fork. Then it's game on with the peg! We have waited 4 years for this.  Cool

So what I mean is, you will see pretty soon when I fix Linux which will release with this next build. Unless you want to run Wine. And also there is many users here who will more than happy to test contracts with you just for fun.

There are not usually "shops" unless they are private markets. Users usually just post to main markets with the user friendly templates. We have Cash for coins buy/sell which is like peer to peer local bitcoins with double deposit and price tracking with stop losses and control over minimum and maximum order sizes with almost any funding method you can come up with that's irreversible.

Then there is the buy/sell template which has auctions/reverse auctions (where sellers bid for buyers) and just general sales with shipping options and a fedex shipping scraper/calculator for estimating big packages. Again all peer to peer no servers.

Then there is the employment templates which you can hire or find jobs. These work with automated payments based on the submission of "reports" or milestones so you can't get paid without it. Then they auto-renew extending the time and notarizing it on the chain.

Then there is barter which lets you set "wish lists" and "supply lists" and you can keep those orders open almost indefinitely so it's like an online garage sale where people can just barter anything like crops, metals, goods, services, etc. What makes that template so sexy is it will calculate all of this for you. So it knows how many pounds of oranges you need for how many pounds of grapes and how many hours of math lessons you need based on what users self appraise their services and even lets you offer things not in someones wish list. I always imagined it for farmers or swap meets.

Lastly there is custom contracts where you just say whatever you want and Python contracts where you can program your own using the Python language and there are no limits but users must self audit code so they better know what they are doing if they want to accept one that isn't in the "approved list" of contracts. These are cool because people can do games, perhaps options, perhaps specific templates for their companies, whatever they really feel like making

What we are lacking is users. We definitely need more orders posted. I figure maybe someone will want to resell items eventually from other markets to build up the supply. We aren't focused on that yet because the peg now takes priority.

By the way you can see training videos, screenshots and other things at our site at bitbay.market

We have cash for coins and it's peer to peer. It's the responsibility of the users to do KYC similar to localbitcoins deals. Especially since there is no escrow. So it's about as anonymous as one chooses to make it or the rules of where they live. It's already seen that Bitmessage has at least the strength of TOR if not greater.

You say you want functionality comparable to amazon which uses giant multi-million dollar servers on top of a decentralized system but you don't want to download the blockchain. You are a typical consumer, nothing anyone does is good enough for you.

If you don't download the blockchain then who will protect the network?! The only thing we can do to speed that up is let users connect to servers while download it so at least they don't lose any time connecting to markets. However for the markets there is also the concept of nodes relaying orders while waiting to download from Bitmessage as well. This system is built with users security in mind. It doesn't cut corners like Steemit or other DPOS pseudo-centralized systems.

Try to appreciate the fact that this was the worlds first decentralized market and the ONLY software in which you can have 2 party escrow other than BitHalo. Try to fathom WHAT has been built here. You should be happy this exists at all. Like Doc said, what have you built? This software is like 50k lines all of which I have coded for the past 4 years. And the team is making a web based market to commercialize decentralization. This doesn't even touch on the peg. What more can a crypto advocate want?!

And why do you keep asking the community to give you the green-light on breaking the rules. Have you lost your mind? This is a protocol, it's not responsible for your actions... you are responsible for the risks you take.

The problem with guys like you is you want someone else to take the bullet for you. Whatever freedoms you don't have are because you have simply consented to lose them.

You can lead a horse to water but you can't make it drink.

I am talking about producers whose purpose is not to finance state terrorism through taxes. These people need a suitable market place in combination with a suitable currency (keyword "untraceable").

They need a platform whose functionality and usability is comparable to ebay, amazon...

Of course the currency must not force anyone to load the blockchain.
And of course there must be a possibility to exchange this currency "untraceable" directly for Fiat (without KYC).

@Thul
You have not clearly stated what kind of market/target you are talking about. Based on your posts though, I'm guessing you are talking about black markets. If you read old posts in this thread, you will see that the topic has been discussed several times.
I'm not going to repeat everything that has been said before on this topic, but here are some main points. Although BitBay (like almost any other tech) can be used for illegal purposes, we do not encourage it. There are three main reasons for that:
1. No one in the BitBay team wants to encourage illegal activities.
2. Many members of the team are listed on our team page with their real names. We do not want our names tied to black markets.
3. Although it takes more effort to conquer the legal markets than the illegal ones, the reward is much bigger if we succeed. Legal markets are so much bigger than illegal ones that we only need a fraction in order to become much bigger going the legal route.

@BitBayDoc
Please let us keep this thread polite.
Difference of opinion is not only accepted, we actually welcome it. If this develops any further in the direction it is now going, I will start deleting posts.