Hey.

I've been thinking about DDE. Often people sell things because they need the money. Suppose I came up short on cash to pay the rent. I have a pretty nice guitar that I decide to sell on the Bitbay Market. I want $1500 for my guitar. Someone likes my guitar and agrees to buy it for $1500. With DDE I have to deposit $1500 in escrow to make the transaction, correct? My problem is if I had $1500 to deposit, I'd probably use it to pay the rent and keep my guitar.

Is this a bad use case or am I missing something here?

Yes I do. I didn't know that. Very cool.

So when the templates are done, the "moms" won't have to know about two private keys and multi-sig accounts and double deposit escrow? It'll be just like Ebay without the middle-men?

So Mom wants to sell her old Ipod for $100. She takes a picture and puts it and a description into the marketplace. The next day Bob contacts Mom and says he wants to buy the Ipod for $100. To use the Double Deposit feature, all Mom has to do now is put in $100 and send the Ipod. But wait. Mom says "Why do I have to put out $100 to sell my Ipod? I want to sell it because I don't have $100. On Ebay, I just sell it and Ebay takes a little and gives me the rest. Why do I have to pay to sell things? I want it to be easy like Ebay. I like Ebay. I sold a toaster last week for $25 and I didn't have to put in $25 first. I know I get it back, but what if I want to sell Grandpa's Mickey Mantle signed baseball for $6000? I don't have $6000 to put in. So I can't sell it? I don't understand this.

Can someone help Mom understand how easy this is?

up up up to moon

Sure. Bitbay was the first altcoin I invested in and I created the account then. I have no other BCT account.

Do you have some reason to think I have some "Original Account". I've only invested in one other coin ever and they are active on slack, not here.

BitBay was funded with a BCT ICO. That large sum of money was stolen or vanished.

OpenBazaar used Venture Capital and a private investor. To do that you need to have a business plan, a marketable product in development and be credible business people. The venture capitalists then basically own your company until they get their profit out by selling you or taking you public.

Where do the staking coins come from?

May have to re-brand the coin as bitbuy.

If this is the exchange

https://bitbay.net/

Where is the site for the coin? I probably just forgot.

This should add some confusion.

http://thestartuppitch.com/pitches/pitch-for-bitbay/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+DiyStartupNews+%28D.I.Y.+Startup+news%29

issie81? Is Issie cashing out?

"You will be able to exchange Bay directly to US$ in the client and on exchanges"

So that will be done through wire transfer, etc. Exactly who is the intended audience for this coin?

When you say exchange USD for BAY at exchanges, do you mean like I can exchange BTC for BAY today or something else?

I guess here's my disconnect. I can buy BTC with USD at coinbase. I have a verified checking account that I move USD into when I need BTC. I go to coinbase and press a couple of buttons and I can ask for $38 worth of BTC and mash the button and it says OK. [ Insert 30-60 minute wait for confirmations ]You now have $38 worth of BTC. That's it. When you tell me I can exchange USD for BAY, I expect to be hooked up with a buy/sell button to exchange $38 for BAY. Press the button, it says OK and the BAY are in my wallet. If the exchange of $$ > BAY is more difficult than $$ > BTC, then what am I gaining by using BAY? I'll stick with BTC because it's easier.

I think of it like this. I can teach my 10 year grandkid to buy BTC in my coinbase account in less than an hour. You have said that I will be able to exchange USD for BAY in the client. When will there be a secure, reliable exchange mechanism I can teach to my grandkid in under an hour? Otherwise, what's the point here?

I mean, really,  nikey boots? I published my complete plan to introduce ZuttCoin to the world including the natty photo of my uncle holding one, and all you remember is nikey boots?. I'm obviously not working hard enough here...

Hahahahah. Work with me here. Me and any other 15 year old idiot with enough sense to do some BTC, tor network and some crypto shit and I got all the CC I got BTC for. Pick me up some local BTC on the street. Money talks and bullshit walks. On a clear day you can see birds.

Did I really make those statements? I was quoting my mom. Sorry for the confusion. I'm actually one of the sons.

All inanity aside, Let's say I'm willing to dox myself to spend dollars. How does bitbay plug into the USD transactional system?

PS: Next week I might have DeezCoinz T-shirts with my own natty designed logo and shit, on the bay market. Lemme know if you want to be a part of that action.

So, I'm not too dopy. I buzz on over to AltQuick.com where I can buy me some Doggie coins for a few bucks, right? I pick some likely lookin' coins and I drop down to the pay window and it tells me this:

Please Read The Following Terms Carefully

Cash deposit or SEPA transfer (EU customers) only. Wire transfers, ACH transfers, online banking transfers, check deposits, Wells Fargo Sure Pay, Bank of America transfers and any other unauthorized deposit methods will not be accepted.

I'm like, WUT? I just wanted to bust some doggie? I cant even spell SEPA transfers. Where's bitbay on this list? Where do I check out please? I have my visa card right here. I need some service over here, SUP?

Is there anyplace where I can exchange USD for Altcoins?

OK. Check yourself Deezzy. Cryptsy will trade USD for altcoins, no problem. DeezCoinz dropped over Cyptsy ready to cop some coin. Made the official DeezCoinz account. Gave the wrong state. haha. they took it. I got my CC out and, WUT?, they want my drivers license or passport? I'm too young to drive and can't leave the country either. I CAN'T USE MY $$ without DOXXING myself.

Am I nutz here?

I can't help it. The air is full of 1P tonight.

While I'm certain that we could make arrangements to exchange bitbay for envelopes full of USD , what will it take to make bitbay accessible to/from my bank account or credit card? It's difficult to move USD around. Look at coinbase. You need full ID and a bank account that will accept transfers in and out from them specifically.  If you further ID with a VISA card, they'll front you the BTC on demand.

Where will that interface exist? Who will you have to trust to have access to your USD bank account for an exchange between USD and BAY to take place? I'm not sure I'd be willing to open my USD bank account and supply personal information as part of getting an account at bittrex or any other altcoin exchange.

I'm just not sure how any of that would work. There's a place where crypto addresses and real money get exchanged, like coinbase or circle, but who will be handling that exchange between bay and $$?

Hey.

Would I be wrong in thinking that if 1 bitbay were pegged to 1 dollar, it would still be unstable as long as it can only be exchanged for BTC?

Would it be not pegged to a dollar, but to a dollar's worth of BTC, which varies greatly and is unstable?

Just askin'.

I must have still been sleeping. Use Docker and all these problems go away.

Commercial release ?

Linux versions do not vary by "computer". There are three main versions of Linux and most other distros are versions of those versions. Those are RedHat, Debian, Suse. For instance, anything compiled on Redhat will run on CentOs. The only thing that varies for executables are library linkages, so compiling for any particular distro fixes that. Most all distros you'll ever see are available for free on distrowatch.com. You can just boot them into a VM in virtualbox and do a compile to produce the executables for your code. Easy Peasy. Are you distributing you Linux code as .tgz or native packages?

I take some of that back. Linux does vary by hardware architecture. X86, IBM power Series. You're not going to be running in AIX lpars by any chance, are you?

Also a static build of the client should work on all X86 based distros without a problem.