Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 72. (Read 542094 times)

https://twitter.com/BitBayofficial/status/1002205446915141639

What do an API, a barter template and python contracts have in common? They just got added to BitBay roadmap. Checkout it out now :

https://bitbay.market/roadmap?utm_source=twitter&utm_campaign=roadmap-announcement-may2018

That's not us, it's the Polish exchange with the same name. Our website is https://bitbay.market 

Because of no available corporation with Polish bank (required for crypto exchange to work in Poland) . In17 September 2018, the trade on the BitBay exchange in Poland will be suspended after moving the project to Malta which seems getting a lot of Advantages due to their Crypto friendly approach.
Read the  full announecement article published yesterday on Bitbay website : https://bitbay.net/en/news/bitbay-moving-to-malta

Why not sell Stakeboxes for other available cryptocurrencies on BitBay market?
And Raspberry PI-s were supposed to be on the Marketplace too, is that right? It would be great to see more items there.

lets just hope they don't take bitcoin with them when it happens

That all sounds like great news... whilst most other projects are stuck and i see zero progress in weeks.

I honestly believe we will break out from all these other projects that are actually going nowhere soon. The hype about new consensus mechanisms allowing huge tps numbers and fake ico high caps are all going to crash back to reality soon.

Who is selling the gems on the marketplace? Noticed on the market you had some questions but you never show up on IRC. Lemme know if you wanted to chat about the order.

http://bitbay.market/dynamic-peg

Also I have a 20 page whitepaper that is private simply because there is no reason to show the competition the technique until we are first to market. The concept is straightforward though. There is a total supply rate which is voted on to either freeze/unfreeze or inflate/deflate. Then users will see their liquidity of some of their funds change when they go to spend. There is an exception for sending frozen funds allowing them to be locked for a month or so which gives potential rise to a secondary market of frozen funds.

Control over supply is by staking and casting votes, the votes will be weighted to slightly favor holders of liquid funds where we (might) give higher interest to frozen funds in exchange. Control over supply means control over price. Since we are allowing voting and basing our algorithm loosely off of a basket and possibly volume the peg can vary in price which is why we have called it a "moving peg" or "rolling peg" or "dynamic peg". The purpose of the tool is to survive crashes and give a way to see a stable price which gives Bitcoin holders a good hedge because they can hold BitBay and wait for storms to pass. Since we aren't set at a specific price the chances are they won't even lose any value while doing it (but they may lose some liquidity).

Thanks, I see a lot of orphan blocks in de debug.log file so I think thats the problem I will try a resync

Is there a description somewhere available how you are planning on implementing the peg mechanism?

If it ended up on an orphan chain that is possible. It can happen if you turn off the computer abruptly as well. Various reasons would require a resync but not a redownload. You can also try reindex. It depends on what it says in the debug.log

I recently downloaded version 2.0.0.1 and resynced the whole blockchain 4 days ago but now it doesnt seem to go any further Im stuck on block number 1669812. It does not sync but I do have 16 connections to the network.

Must I download the wallet again and do a resync ?

speaking of decentralized ... exchanges

https://altcoinexchange.featureupvote.com/suggestions/3769/add-bitbay-bay

Vote for us to be listed

atomic swaps & other cool features  on https://blog.altcoin.io/

Thanks, I appreciate it. I've made very good progress finishing both Employment and Python Templates and API. So all that is left is Barter. Then the peg. Then we broker some exchange relationships or something.

Thanks for this answer David. As always the best dev out there bar none for keeping in touch with the community and answering questions.

It is true that tps is overrated, there is absolutely no need for tps race. Also, I would like to hear what the idea is.

Well we can revisit that when I finish the peg. So yeah as far as is sacrificing security for ease of use worth it? Probably not. Especially if it leads to centralization. However there are some things to be learned from their techniques for example like using faster servers to handle higher TPS and pruning the chain. And on some level some of those ideas can be used in a much more decentralized way (why not?). Also to change protocols isn't so hard since you really only need a snapshot of the chain.

We posted on Reddit about it how to redeem them.

I think that it would be great to make bays as incentivizing as possible. Not only for shopping, hiring and depositing, but a loyalty currency for BitBay. Imagine if people become interested in accumulating, earning and spending bays! For me as an investor it looks like a miracle and paradise.

Of course David we all know you are working as hard as you can and the product itself is way way ahead of most of those even in the top 50. The constant updates and new features are there as promised.

all these fake cap shit icos are sucking btc away from the real projects and it will not end well for those investards.

I guess people are more impressed with bullshit newfangled consensus schemes that sacrifice decentralisation for some hyped up tps.
Is there really any proof that there are any time tested new models that keep the same level of decentralisation and increase tps without going bloated super gigabyte chain size? isn't there always some trade offs either way that leave it questionable if it really is an improvement after all things are considered?

Do we really believe eos ada and all the new crypto 3.0 projects are really worth it?

And if we swapped over to something else would it require a huge amount of work to move bitbay marketplace off of pos3?

Just before the peg is launched I have a great idea for boosting bitbay's awareness and popularity, although will require some whale donations to a marketing pot.