BitBay General #4

T-Bagging Syscoin Edition

>>2437017

Lol pls no bully. I don't want them shilling up my thread again like they tried to do last night.

Any word on when the peg is due?

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>>2437163

Scheduled Q4 2017 (roughly). Check http://bitbay.market/blog/ for the latest client updates, or join us in the Slack.

>>2437256

Interesting. Still just one Dev?

>>2437357

Yes. Many people believe this to mean there will always be one dev, but this is untrue. BitBay will scale up as necessary as more funding becomes available.

In addition, the fundamental tech of the BAY coin is almost complete, so when it is time to scale up improvement will happen fast. It is much easier to assemble a team to improve the UI than to implement the rolling peg.

>>2437256
Is it going to be a gradual limiting of supply or what? Don't see what's stopping prior from selling it for a lower price.

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>>2437628

This infographic helps to explain.

Short answer: Coins will be frozen and unfrozen to prevent extreme changes in price.

Long answer:
"For properly holding a price to a coin, you need to control some factors of the coin. First you have a rule to control the total supply. Supply will be increased and decreased using new rules about how much of an input you have to spend and how much you must freeze. We will allow a certain number of coins to be liquid and a certain amount of coins will have to wait to enter the market. So you will have a certain percentage of your coins available at one time. Then a large buy wall is set below to total supply. So if there is 100 coins available, then a 100 dollar buy wall is set. This also depends on how quickly we want to see our target price. We may not want to hit a dollar too fast. It may be more profitable for everyone to allow the price to grow towards our target. Most likely we can increase a certain percentage every day and watch how to market reacts. If anyone sells into the wall not only do they have to wait for their coins to become liquid again, they also must wait for us to resell the coins at a higher price."

>>2437667

That sounds complicated as fuck.

>>2437714

It may take some extra time to wrap your normie brain around it but it's worth it

This will either kill ebay or be picked up by it.

Shits a long HODL.

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>>2437825

What excites me most is the idea that someday in the far future companies could use BAY under the hood. For now though, yes I think this could entirely replace eBay with just a few cosmetic upgrades and user tweaks (and of course the soft peg).

eBay always takes all my shit I'm not a fan of them.

how much bitbay does everyone own?

I missed out on ark, i missed out on eth, i missed out on LC

not gonna miss this one

>>2438008

I personally hold nearly 1 million but i've been with the team for awhile.

>>2438086
i should have 25-30k at end of the night. i am gonna ride this one to the moon

can we trade EY niggers on bitbay?!

>>2438086
someone is going to have a lambo! :-)
good job.

>>2438008
90K

>>2438133
damn son. good job. wish i knew about it sooner.

>>2438103

Yes, no reason you wouldn't be able to. They've been trading IOTA through the BitBay client recently I believe.

>>2438145

GAME CHANGER

>>2438145
really? is there any literature to this?
thank you

>>2438103
this would be fucking amazing
pls let me know

>>2438179
>>2438175
>>2438103

https://youtu.be/aL2e8FniDWg?list=PLILfNPSQCo6yjFiwXY6-C-ikIDs6v2nHU

"Basic Walkthrough of a BuySell Coin Template"

This should be of assistance.

>>2438179
>>2438175
>>2438103

That being said if you gentlemen could create a private market for your Niggercoins it would be a lot better for our publicity. We don't cuck but we are trying to run a reputable platform.

God bless you OP

>>2438203
im sure /pol/ and /biz/ will figure out what to to with EY. i personally own over 2k EY

Awesome project. I'm in for 100k coins. When is the bounty list going to get published?

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i bought all i can afford with this months paycheck

>>2438191
cool, will research

and if you don't mind me asking, how is bitbay different/better from BLOCK?

>>2438281

It is complete, just needs like a finalizing. I just asked the team for a specific date and I will get back to you.

>>2438365

I am not an expert on Blocknet, but my impression is it is attempting to be a platform to run applications and have interoperability between applications on different blockchains, whereas BitBay is a more enterprise/market focused decentralized exchange. BitBay aims to be an exchange of physical and/or digital assets imo, I see a huge demand in China from exporters of goods and the like as something that could potentially send BAY to the moon (that's just my personal conjecture though).

>>2438409
>>2438445
thank you for the reply

i suppose i am wondering: is this just a way to exchange nigger/BTC with individual people, or would this have an actual exchange/marketplace that shows continual buy/sell offers?

>>2438468

This is just a way to exchange nigger/BTC with individuals.

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>be me
>newfag to /biz/
>all advise you given me (strat &eth) made me money
>now getting in on BAY bae
>got in on BAY bae
>besides escrow, what makes BAY valuable?
>technology?
>what is future?

The client can be used to sell anything including tangible goods from what I can see. You can set up a private market and sell weed if you want. Not that I would recommend it.

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>>2438762

See >>2438787

BAY is necessary for the double-deposit escrow system. The rolling peg will be the absolute greatest part of this system, making the BAY stable enough to allow for its usage as a currency.

This is in addition to the kick ass marketplace client. No other coin in Crypto has as large a list of features as BitBay: http://bitbay.market/walloffeatures/

>>2438762
Next big thing is rolling peg, it's gonna be yuuuge

So I can sell weed and Niggercoins on BAY and it hasn't mooned?

Color me sold

>>2438923

BitBay officially disavows the use of the private markets to usurp national or local law.

>>2438933

Of course, only joking.

>>2438975

Any illegal listings on the public marketplaces will be removed by the moderators immediately upon their knowledge of said listing.

Say you were in Denver trying to sell weed within city limits, where it is legal. This would be possible within a private market, where no one outside of that market have knowledge of said transaction.

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Good Bitcointalk thread about BAY:

https://bitcointalk.org/index.php?topic=1966003.0

But can I sell my niggers there?

>>2439210
trying right now anon
will post back here an update on how it goes

>>2439210

Yes. You can sell literally anything using the BitBay decentralized market client.

>>2437667
MUE is supposed to control it's price as well. And it's current price is too high for the dev's agenda of an affordable currency. So I assume he's going to release some coins or something.

XRP is also in the same boat. They want to be stable so bankers don't feel screwed when doing transfers. This, (((they))) will control the price.

ETH is supposed to be "gas" for dapps, but speculation rise the price into a bubble. But a very profitable bubble.

As an investor, it seems that if I invest into BAY right now, I'll be lucky to get x30 ($1 future/4¢ current) in a few years. If you even allow it, and if you're not taken over by a faster competitor. But if I invest in speculation, I could double my money every month. Other than as a hedge against speculation, why should I invest when my ROI is less, and your altcoin still carries significant risk? Why would anyone invest in say 2 years from now when your coin mooned to its target?

>>2439300

>double your money every month

Anon, how the fuck are you going to do that? You mean you could start with a thousand in January and end up with 4 million in December?

>>2439300
what the fuck did i just read

>>2439300

Is this some kind of 5D chess?

>>2437011

How do I get an address and deposite my coins from wave wallet?

>>2439629
i found it, go to deposit, click on bitcoin, and the address shows up.

Will this be better to use than coinbase for buying btc to exchange for other coins?

>>2439706
>>2439629

You guys seem to be talking about BitBay.net, I am talking about BitBay (BAY) the cryptocurrency.

BitBay (BAY) wallet has a decentralized market contract that utilizes smart contracts and double deposit escrow to enable just about any business transaction to go smoothly.

Is it normal that synchronizing with the blockchain takes fucking ages? Like 3 days now and still not finished.

>>2439796

Depends on your connection and PC, took me about a day and a half.

>>2439796

Oh, and also, if you're on Windows you can download the bootstrap and speed things up

>>2437011
bitbay sucks. carry on

>>2440640

Rude desu