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Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Understood. So if I don't use the advance sending, how will my reserve become liquid? is it a matter of time or is there anything I can do? All my balance has been in the wallet since 2017
Would anyone be able to give me more information about how a reserve becomes liquid? the same balance have been sitting in the same wallet since 2017 and only 0.003 % of my balance is liquid. Is moving it to ax exchange the only way to trigger the 1 month period for unfreezing the funds? would moving the reserve to a different private wallet trigger that 1 month period too?
Thank you in advance.
https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528.pdf
Take a look at that visual explainer. Reserve and liquid is determined by the supply and the users vote on the supply when they stake. When supply goes up the reserve turns into liquid. In QT you can see a chart of each input that tells you precisely when it changes. When you send reserve it is delayed by a month and that delay has no effect on it's chart. The one month is actually just a difference in speed from reserve to liquid to distinguish them and so sending them has no effect. You have to wait for supply to change by community consensus which usually happens because all the liquid gets bought up and demand increases.
Hi David, thanks for the link, the presentation is a nice complement to the Dynamic Peg whitepaper.
Now, I am usually able to ingest, process and understand technical documentation fairly quickly and have wrapped my head around the various consensus mechanisms, (self)governance models or scaling solutions of numerous projects in the crypto space, yet I still find myself lost, when it comes to how Liquid/Reserve BAY allocation goes, as part of the Dynamic Peg feature. I do apologize for that, I must be missing a piece, that - when filled in - will make everything just click for me.
From what I could gather, there tokens have various states, that have different voting weight in the network, and holders vote for a deflationatry or inflationary trend, ie. influence the circulating liquidity and price. I also understood that as an individual, I have no direct (better to say "instant") say as far as how many of my tokens are Liquid or Reserve. After checking back after three years I found, that only 0.8 BAY of my 20k holdings is liquid, so I did two test transfers, one to myself one to LAtoken, waited a month and found that the tokens were still (and now I know expectedly) Reserve. I need to understand, how I can participate in the voting (eg. through the wallet?), how often this takes place, basically how to gain control over my investment? I admit I plan to cash out marginally but still have a strong affinity to the project and would love to see it succeed! The decentralized marketplaces are the future and we need BitBay! I just need to understand this aspect of the tech better, could you give me a hand and do a ELI5 for this scenario?
Thank you for your kind understanding and time to answer my question.
D.
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Maybe it's verifying the blocks instead of downloading them. Which should still be a bit faster. Bootstrap doesn't instantly sync however if you synced in advance it should work.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
So my 32-bit Halo v2.5 eventually synced up and upon loading key2.private, it shows the correct balance. I will still need to catch up with the dynamic peg and terminology, as in "Actual balance: vs. "Available balance" but I should be in control of my BAY again and able to move it to a "lighter" wallet
Thanks for your help @dzimbeck!
Actual vs available balance is effected by several things. First of all your ratio of liquid to reserve which you can see in the "history" tab which shows a more detailed ratio of liquid/reserve/frozen. I do think there should be more on the homepage to express that though.
Available balance may also be effected by pending transactions waiting for confirmations, pending contracts and marketplace offers, etc.
I don't know why so many people want to move to lighter wallet. I think the two keys are so much stronger security, I even use BitHalo to store BTC(BitHalo works with Bitcoin and dates back to 2014). Also the markets it's unfortunate people don't use them because they are full decentralized with security possibly better than TOR.
Thanks, I will read up on the Liquid/Reserve coins some more, so I understand it better.
As for the wallet, I may keep my BAY in Halo for now, I just wanted to spare myself having to spend a week making the binaries to work on two different platforms :/ If you can find the APK, I would be grateful, I think it may be safer to use than the webwallet, although since the login information is probably only used for hashing & key generation, I wouldn't be too worried, my password keeping is safe enough I think. I still find it difficult to navigate Halo. I understand that the Offers and Contracts sections are empty as my only interaction so far has been syncing and importing keys, however I've been unable to show any Marketplace listings, just can't figure out how to get anything show up. There's the BitBay and ALL markets dropdown, Sell Coins, Auctions etc. but clicking Go with anything selected does not do anything.. Then again, I'm probably just unexperienced. A good UX feedback anyway maybe? Sorry for being this direct. Compared to Haven or Particl Marketplace I'm feeling completely lost..
No the markets are working 100%. It's simply that there are no listings. Anyone can post anything to the markets. You can even start your own market. They are fully anonymous and arguably better security than TOR. We were before Particl and actually Particl started as Shadowcoin which was inspired by my work. Of course contracts on the market are also unbreakable and impervious to fraud or theft due to the nature of double deposit escrow. I think it would be nice to also connect to a dedicated node that always shows some basic listings to populate the markets with something however our community is currently trying to get more exchanges, especially DEX.
Login info for web wallet is only kept in cache so the moment you close the tab it logs you out. It's safe as long as you don't have malicious plugins that read keystrokes or something.
As for APK, we had some updates to web wallet recently so we will rebuild it. Also moving some code from bitbucket to github. Then next APK we build I will make sure it's hosted on github. Although the one at the playstore is working fine anyways.
Thank you for clearing it up, that is unfortunate -- not for long, hopefully! I have followed Particl since the beginning and my thumbs are up for all private & decentralized marketplaces, can't wait for the BitBay web marketplace, is there any ETA? The roadmap on bitbay.market does not mention any as of yet.
Great to hear there will be a fresh APK, please publish the GitHub URL when available, I'll keep checking!
Take care all and thank you for being this responsive.
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Hi Dactylion - Please go to: TELEGRAM at https://t.me/bitbayofficial to ask technical questions.
Telegram always has somebody there and they are very good at technical inquiry's. David hangs out there a lot also!
This is a bitcointalk blog... More focused on the business and roadmap of BAY coin. Thanks!
Doc
Telegram always has somebody there and they are very good at technical inquiry's. David hangs out there a lot also!
This is a bitcointalk blog... More focused on the business and roadmap of BAY coin. Thanks!
Doc
Thanks for the advice @BitBayDoc. I don't use Telegram (Signal maximalist, as well as app count minimalist, heh) but in case of pressing technical questions or severe issues (funds/transactions stuck), I will install TG and ask there. Cheers!
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Maybe it's verifying the blocks instead of downloading them. Which should still be a bit faster. Bootstrap doesn't instantly sync however if you synced in advance it should work.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
So my 32-bit Halo v2.5 eventually synced up and upon loading key2.private, it shows the correct balance. I will still need to catch up with the dynamic peg and terminology, as in "Actual balance: vs. "Available balance" but I should be in control of my BAY again and able to move it to a "lighter" wallet
Thanks for your help @dzimbeck!
Actual vs available balance is effected by several things. First of all your ratio of liquid to reserve which you can see in the "history" tab which shows a more detailed ratio of liquid/reserve/frozen. I do think there should be more on the homepage to express that though.
Available balance may also be effected by pending transactions waiting for confirmations, pending contracts and marketplace offers, etc.
I don't know why so many people want to move to lighter wallet. I think the two keys are so much stronger security, I even use BitHalo to store BTC(BitHalo works with Bitcoin and dates back to 2014). Also the markets it's unfortunate people don't use them because they are full decentralized with security possibly better than TOR.
Thanks, I will read up on the Liquid/Reserve coins some more, so I understand it better.
As for the wallet, I may keep my BAY in Halo for now, I just wanted to spare myself having to spend a week making the binaries to work on two different platforms :/ If you can find the APK, I would be grateful, I think it may be safer to use than the webwallet, although since the login information is probably only used for hashing & key generation, I wouldn't be too worried, my password keeping is safe enough I think. I still find it difficult to navigate Halo. I understand that the Offers and Contracts sections are empty as my only interaction so far has been syncing and importing keys, however I've been unable to show any Marketplace listings, just can't figure out how to get anything show up. There's the BitBay and ALL markets dropdown, Sell Coins, Auctions etc. but clicking Go with anything selected does not do anything.. Then again, I'm probably just unexperienced. A good UX feedback anyway maybe? Sorry for being this direct. Compared to Haven or Particl Marketplace I'm feeling completely lost..
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Maybe it's verifying the blocks instead of downloading them. Which should still be a bit faster. Bootstrap doesn't instantly sync however if you synced in advance it should work.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
As for 64 bit it should work on most linux versions. I would need system details to see what the issue is. The reason is because there is so many versions of linux and hard to release static build. Which is why you can also just run it from the python code.
So my 32-bit Halo v2.5 eventually synced up and upon loading key2.private, it shows the correct balance. I will still need to catch up with the dynamic peg and terminology, as in "Actual balance: vs. "Available balance" but I should be in control of my BAY again and able to move it to a "lighter" wallet
Thanks for your help @dzimbeck!
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Very cool about the de-googled android phone. I also was thinking about how to do that. As for the two keys those are not compatible with QT. QT is single signature and Halo wallet is multisignature so you need Halo wallet. As for the form we will look into that. Thanks
Blocknet is a good idea but we are focusing on side projects and other more high volume DEX solutions for now although its on the list.
I have to check to see where the APK is... in the meanwhile perhaps scrape the google play store.
Blocknet is a good idea but we are focusing on side projects and other more high volume DEX solutions for now although its on the list.
I have to check to see where the APK is... in the meanwhile perhaps scrape the google play store.
Hey dzimbeck,
Thanks for the hint, will play around with Halo, although the first experience was quite clunky. The 64bit linux version GUI was somewhat broken (buttons did not work), the 32bit version loaded OK but started syncing from scratch, although I already should have the complete blockchain locally (synced by the Qt wallet). I also tried to dump the bootstrap file into the data filder after flushing its content but that did not make any change and Halo still tries to sync from block 0 :/ My main motivation is to move it to the web wallet (not sell), just to avoid these shenanigans, until the software side is more usable. Any advice welcome, thanks!
..and about the phone: /e/ OS is very easy to install/flash, if you have one of the 100+ officially supported models, for which a binary image is available. If not, you can still build from source.
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
You should sync with bootstrap and it should work.
The community forum should allow new registrations, I wasn't aware it doesn't send emails. Myself, Craig, Alec, Yshurik and Alec are still quite active.
The fact that it doesn't trade on other exchanges besides Latoken is not our fault. It's because central exchanges are thieves and we got our listing fee stolen from by 3 of them and only Latoken eventually came through. And none of them would accept double deposit escrow, a few of them it turned into a fight just to even ask for escrow (kind of showing they are scams but we took a gamble on 4 of them). Latoken however was very buggy and that has dramatically effected our trading volumes. Furthermore, Cryptopia stole from everyone and vanished and Bittrex who is partner with Upbit delisted and totally censored us probably because they have a bank in their pocket or just that they are sellouts/censors/jerks. After they made millions off of us they turn their back on the tech that enriches them. So yeah we also dealt with censorship from mainstream exchanges and news and that has made me not motivated to talk to those types of companies as I see them as evil in a sense.
With that said, I'm sure theres some good exchanges but its a very expensive gamble and time burn and adding BAY is custom code because of the peg so many exchanges are too lazy or start to act really entitled when they have to do "work". The peg works incredibly well, we are able to tracking BTC peaks moving BAY price from 20 cents to 45 cents and keeping it perfectly stable. The trade off is a lot of the supply has to go to reserve but the theory is when volume picks up it won't matter.
So we need volume and thus we need to be listed on various DEX or exchanges that are almost fully decentralized.
That means we are just going through this stage where we either trade on Latoken when it works or OTC. But it won't stop the project from ultimately getting listed on the appropriate DEX and solving our bottleneck so in the meantime we just have to be patient.
Hi dzimbeck and thank you for the comprehensive answer.The community forum should allow new registrations, I wasn't aware it doesn't send emails. Myself, Craig, Alec, Yshurik and Alec are still quite active.
The fact that it doesn't trade on other exchanges besides Latoken is not our fault. It's because central exchanges are thieves and we got our listing fee stolen from by 3 of them and only Latoken eventually came through. And none of them would accept double deposit escrow, a few of them it turned into a fight just to even ask for escrow (kind of showing they are scams but we took a gamble on 4 of them). Latoken however was very buggy and that has dramatically effected our trading volumes. Furthermore, Cryptopia stole from everyone and vanished and Bittrex who is partner with Upbit delisted and totally censored us probably because they have a bank in their pocket or just that they are sellouts/censors/jerks. After they made millions off of us they turn their back on the tech that enriches them. So yeah we also dealt with censorship from mainstream exchanges and news and that has made me not motivated to talk to those types of companies as I see them as evil in a sense.
With that said, I'm sure theres some good exchanges but its a very expensive gamble and time burn and adding BAY is custom code because of the peg so many exchanges are too lazy or start to act really entitled when they have to do "work". The peg works incredibly well, we are able to tracking BTC peaks moving BAY price from 20 cents to 45 cents and keeping it perfectly stable. The trade off is a lot of the supply has to go to reserve but the theory is when volume picks up it won't matter.
So we need volume and thus we need to be listed on various DEX or exchanges that are almost fully decentralized.
That means we are just going through this stage where we either trade on Latoken when it works or OTC. But it won't stop the project from ultimately getting listed on the appropriate DEX and solving our bottleneck so in the meantime we just have to be patient.
I am not intending to sell my BAY, I was merely expressing pity and will definitely resume my following of BitBay and wish it would get more attention & adoption!
Back to the untouched main point of my post though: As mentioned, I have eventually been able to fully sync the BitBay Linux Qt Wallet (v3.1.2.0-gf683bd6) but do not see an option to import key1+2 .private and .public -- they may have been exported from the Marketplace, can you please hint?
I would also gladly install & try the Android app, as well as report any issues I encounter -- it's just that I am running a custom deGoogled OS (https://e.foundation/), thus have no access to Google Play and would need an installation APK and a checksum from you, if that is feasible?
Thanks!
Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Hi @lifeiscrypto, I'll chime in as it looks I'm in the same boat and equally frustrated..
I got to know BitBay in 2017 and was very enthusiastic about the technology and novel mechanics, however now that I have woken up from a bearish lethargy and checked back, it seems dead since ~June 2020 -- at least by the standard metrics of being listed/traded on exchanges, activity on Reddit (no new posts, questions unanswered) and the Community Forum (they probably stopped new registrations, as the activation emails just aren't sent out). Craig Claussen's (@BitbayW) occassionally comments on something on Twitter but cannot be messaged.
This forum seems kind of alive, although you never know, these may well be illusion-preserving "hired guns" -- I'm intentionally being mean to provoke a reaction, a comment, something to reignite my belief in this project.
I would really like to see BitBay succeed. There is some of aura of failure surrounding various takes on "private marketplaces", be it OpenBazaar/Haven (barely surviving) or Particl (struggling as well).
That being said, I would really appreciate some help with restoring my BitBay wallet. The Windows Qt wallet got stuck syncing at 85%, I was eventually able to fully sync the Linux Wallet, however I don't see an option to import my two private keys I exported from the previous wallet years ago.
May this be the right place to get some actual assistance?
Thank you!
I got to know BitBay in 2017 and was very enthusiastic about the technology and novel mechanics, however now that I have woken up from a bearish lethargy and checked back, it seems dead since ~June 2020 -- at least by the standard metrics of being listed/traded on exchanges, activity on Reddit (no new posts, questions unanswered) and the Community Forum (they probably stopped new registrations, as the activation emails just aren't sent out). Craig Claussen's (@BitbayW) occassionally comments on something on Twitter but cannot be messaged.
This forum seems kind of alive, although you never know, these may well be illusion-preserving "hired guns" -- I'm intentionally being mean to provoke a reaction, a comment, something to reignite my belief in this project.
I would really like to see BitBay succeed. There is some of aura of failure surrounding various takes on "private marketplaces", be it OpenBazaar/Haven (barely surviving) or Particl (struggling as well).
That being said, I would really appreciate some help with restoring my BitBay wallet. The Windows Qt wallet got stuck syncing at 85%, I was eventually able to fully sync the Linux Wallet, however I don't see an option to import my two private keys I exported from the previous wallet years ago.
May this be the right place to get some actual assistance?
Thank you!
Hi,
Is there a way to sell BAY right now? I tried in LATOKEN but is not listed anymore. Also I don't see any price for BAY listed in coinmarketcap, I do see it here https://www.coingecko.com/en/coins/bitbay but not sure how faithful that is, what would be the approx current price?.
Thank you in advance
Is there a way to sell BAY right now? I tried in LATOKEN but is not listed anymore. Also I don't see any price for BAY listed in coinmarketcap, I do see it here https://www.coingecko.com/en/coins/bitbay but not sure how faithful that is, what would be the approx current price?.
Thank you in advance