BitBay Pump Scheduled for 22:00 GST

Already bought some at 400 sats. Been waiting for this pump for a while. .

>>2055617
is it too late

Nope, its around 1k sats now. Still 5x gains to be made.

BitScam

Thanks big papa huang, will this be like LEPEN....?
Wow I'm thrilled!!......

I took a little bit on the off chance the dev gets cucked by illicit merchants turning his fairyland into an unstoppable marketplace for the wicked, at that point either the greed consumes him or he has to fork his ribs and suck his own dick forever.

>>2055617

you shitting me, i just sold this 2 days ago to go all in on BTC, guess i got 650 sats for it

>>2055800
You sold right before the pump *sigh*

>>2055768
The rolling Peg will be out soon. The dev would be an idiot to sell now. Its going to go parabolic today.

>>2055804
The rolling peg actually sounds like a load of shit to me, but hey maybe he can pull it off in some way that's just not clear to me

provide screenshots

>>2055617
im not buying your shares op

yall niggas buying into his sell orders

Explain to me how rolling peg will keep the price stable?

How can you control price in an exchange? What you see trading on exchange is not actually your real coin, it's only a number on their platform. You don't really do transaction on the blockchain when you trade on exchange until you make deposit/withdraw.

Disclaimer : I own 500K of bay since 250 sat

>>2055856
In all seriousness I believe it is to be achieved by controlling the supply

>>2055882
I know but that doesn't answer my question on how you control how people trading on exchange.

I ask this question multiple time on their slack without any satisfying answer.

>>2055896
By manipulating the market. If you want to pull the price down you increase supply on the exchange, you sell coins, if you want to push the price up you increase the demand by buying coins.

>>2055907
same answer as in slack.

Allright, might sell my stash soon, as much as I want to believe rolling peg will be the best feature bitbay has to offer, I still couldn't grasp on how they will control it.

Well, I'm a stupid fuck I guess.

>>2055810
Actually read a book, nigger. Rolling peg based on freeze/unfreeze and decentralized vote is solid.

>>2055856
It depends on most of the coin being housed in wallets, which makes sense to stake, and because the whole point of the coin is the market client. If 90% of the coin is on exchanges then the peg will become saturated and break until more coin can be frozen.

File: book.png (72KB, 1153x486px) Image search: [Google]

72KB, 1153x486px

>>2055917
OK please refer to diagram related. Let's say we want to up the price, or fuck it we don't even want to but it's going to happen anyway.

>REFER ASKS SIDE

we want 1 fucking BTC worth of bay now, the lowest ask is 933 sat but that motherfuckers only got .01 worth left. now I can't be fucked calculating, but i'd say to get a decent chunk at least we're looking at buying up to 952 sats

>WE HAVE MOVED THE MARKET

Opposite on the other side. Now imagine you have a shit ton of bay, you could do this all fucking day with no other purpose but to steady the price as needed

>>2055922
what is the fucking difference between controlling the temperature and controlling the supply

>>2055925
Yeah but what you see there traded on exchange is not actually happening on blockchain, right?

That's just number on their platform, they did the accounting/bookeping later on when user withdraw their money.

Are you saying that if the price on exchange is not synct with the rolling peg's price, the entire wallet will be frozen until it sync with the exchange rate?

If that's the case, people will be discouraged to trade bitbay, dont you think?

>>2055942
What do you mean on the blockchain 1 bay is 1 bay, the 'price' is really just what somebody will give you for it, if they know they can always change it for a dollar, then its as good as a dollar or, as i like to say, as good as gold!

>>2055942
Good point about the exchanges...shit I never thought about that. Now I'm not regretting my sell.

>>2055950
No it's a fucking terrible point it misses the point entirely, do you want me to explain again

>>2055927
The end result is much the same, but you can still move frozen coins between wallets, so using contracts you can trade frozen for unfrozen at whatever rate is determined fair. The peg is a smoothing force, not a hard limit.

>>2055942
Are you starting to understand that BAY isn't meant to be a pump n dump scam? It's meant to be a store of value and a currency for the market. It's meant to have stability like day to day fiat.

>>2055949
>>2055956

I'm still a dumbfuck and don't understand it.

>>2055958
Damn man I'm sorry. It's not even a complex concept. It's like printing/burning money to keep the dollar stable, except coins aren't created or destroyed and the whole process is automated and decentralized.

>>2055966
do they just freeze coins to keep their value consistent, basically?

>>2055958
Lets say you fucken hungry and go to market, you want a steak, lots of people are selling steaks for $20 and they're all identical, but there's one fucken guy there selling at $10 a kilo, so you go to him right? Market price is now $10 and will be for as long as he can keep doing this, nobody can even fucking sell for $11 because this guys doing it cheaper. So now the rest of the shop owners are fucked, they say fuck you I'll sell for $9 - guess who fucking buys them? Now the other customers are fucked, this nigger has bought all the $9 steaks but they still want one bad, so market price is back to fucking $10

>>2055979
That exactly my point, how the fuck you prevent some nigger selling that $9 steak when he sell that steak in an exchange? Where the transaction happened off-chain.

>>2056019
>how the fuck you prevent some nigger selling that $9 steak
Not him, but wouldn't it be irrelevant it the grand scheme of things.