Ninjastic
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Board Announcements (Altcoins)
Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
by
dzimbeck
on 06/08/2015, 15:03:21 UTC
Quote from: Penn.3D on August 06, 2015, 02:49:55 PM
Quote from: dzimbeck on August 06, 2015, 02:44:49 PM
Quote from: dalefrench on August 06, 2015, 05:09:44 AM
I have bought gradually about 2 million bitbay.  Will it help bay if I staked them?  I am a little wary about wallets now days.  But I like where this coin is going.
Also thank you for the Slack invite.

Actually in an upcoming update you will be able to stake in the markets wallet which will allow you to stake from 2 locations. Security on a whole new level. And yes please stake. The rewards will probably be higher because there is less people staking. So its a huge bonus for people who have less coins, they will get a higher probability of finding blocks i think.

When i was testing the multisig staking i was shocked by how many blocks i was finding. Its one feature im very eager to get done.

And its good to be wary. People are not taking their financial security in bitcoin seriously enough. Most coins including bitcoin are very volative and people should always chose decentralized options over centralized ones. There is nothing in the markets wallet that relies on servers, nothing relies on anything but your own computer/node. Pure p2p.


We will be able to hold coins in Bittrex's wallet and stake at the same time? I've never heard of that before! Is that a first for crypto?

Not in bittrex unfortunately. Exchanges don't use multisignature. But, when you keep coins off the exchange you can use two locations for staking and yes it certainly is a crypto first. Also, i definitely do not recommend keeping coins on exchanges. I lost like 3 btc on mintpal and 2 on bter and was lucky not to lose more. And im sure tons of people got wrecked at gox(.5 billion dollar theft).

So i think its best to just do your trades, withdraw immediately. Eventually Blackcoin will have a decentralized exchange using Halo (NightTrader) which is planned after template release.