When can we expect the web marketplace demo?
I'm not sure how many features users will be able to demo when they release it. However I know they are working as hard as they can and a new dev just came on full time.
this is all great news I feel and I am excited to say the least to be grabbing up more bay in the 300's i didnt see that ever happening actually.
will the peg work with decentralised exchanges like blocknet and komodo or will they need to add in some extra code?
if not is it feasible to make bitbay into a decentralised atomic exchange at least from btc to bay... I know you mentioned something like that before but I didn't actually fully understand it.
what would happen if bittrex will not support the pegging software? I think they will because ignis i heard requires some extra software for them to run it. But if they will not ? what will happen then?
Sorry if this is explained in the white paper I have not had a chance to give that the full attention it requires at the moment.
Yeah those are all options. Actually, even a basic atomic swap from BitBay to BitHalo would be nice enough to do. Komodo and Blocknet or any other change only needs a few modifications. I would have to think about it actually, since they just have to be careful not to send reserve funds to a timelocked account. I'm pretty sure Komodo dev will work with me on that. We want at least a few good central exchanges for the common trader regardless of who takes us. As long as they have a decent reputation and security we should be fine. At first Bittrex was a little bit unsure of why I needed them to have custom code. Now they want me to email a proposal I'm waiting to finish final touches on peg. If we lose them, it's no big deal. That's something we have all the time to do, broker good relationships. At first it concerned me but then later I realized people only need a place to trade with half-way decent volume and there is always new exchanges on the horizon. Besides, they stand to benefit too... even they must be tired of all the volatility. If we even get 1% of Tethers volume they could be raking in millions. It's worth it.
Thanks for the answer david.
I really hope we can keep bittrex/upbit though. They do have a custom code for ignis so I am sure once they understand why bitbay needs it they will work with us.
Also like you say if we can even grab a bit of tethers volume we will become big news which will inspire more people to want to work with bitbay
I see in the buy/sell forums a lot of people wanting to buy precious metals for crypto - bitbay would be ideal for this.
There are lots of indie metal dealers who would like to find away to take in crypto for their metals and be able to ship it rather than face to face collection. I can see bitbay having many metals markets and dealers.
The biggest market for sure would be US to EU/UK though people could make fortunes by simply offering reselling through bitbay US items from US ebay to EU/UK now that ebay are auto adding huge fees and vat duty.
We just need a couple of big reseller companies to populate bitbay with a ton of US products they would not even have to hold any of these products in stock they can just offer them and then when they get an order they can order it from ebay themselves and reship it out make 10-20% and save the buyer 10-20%.
Once bitbay becomes known as a cheaper alternative to ebay the volume could explode. I guess that is when we will know our tps limits.
