we are making sure the markets and new build work on all linux mac and windows platforms. Building a static build of everything is challenging. Different computers have different issues. However we are almost there. A few more days and public tests can begin.

Here is a marketing opportunity: https://bt.irlbtc.com/view/995694.0

That thread is advertising a market place that almost certainly doesn't have any smart contracts or trustless escrows.

So, the thing called "double deposit escrow" isn't escrow? Where are the funds kept for the duration of the transaction? If the contract is broken and both sides lose, where does the escrow money go?

Also true for the Gabriel profile and about 10 others that have attempted to comment here. Some of the profiles seem neutral others not so much.

Thats true but the stake reward is higher for small amounts of coins. So if you have a .1% chance of getting the block your reward is higher than one who has a 99% chance of getting a block.

Also, I am adding multisignature staking to all my clients. So now, you can stake without ever getting hacked. (2fa staking)

Hi EMIF thanks for the support.

First of all you had it correct except its in reverse. If Bob and Sally are total strangers with no trust, then Bob would deposit 1 and advance the amount 1(for the phone). Sally would only deposit 1 to avoid extorting from Bob.

So at first Bob is -2 Sally -1.

Then Sally sends the phone worth 1

So Sally is -2 Bob is -1

If Bob says he didnt get it he is still -1 and just paid double for the phone. If customs really provably had a problem, then Bob should contact Sally and explain. Its up to Bob and Sally to agree before the time runs out or they both lose. Of course insurance is recommended with international packages!

However, if customs took the item, then both Bob and Sally then would want to agree on an extension.

If Bob ever tries to steal the phone he is -1 and will pay for his deception.

If Sally really has no trust for Bob she can even make him pay more deposit before entering a contract. Trust levels is dependent on how new the parties are to the system and what Sally thinks. There is also a rating system so deposits can be lowered after good behavior.

The best part is, BitBay will handle everything automatically. So Sally does not need to worry about deposits. The "Templates" will set those amounts based on recommended levels. She can choose the edit the template and it would show as a "Custom contract"

There is also auctioning/counter-offer system in BitBay. So they can negotiate everything in advance and everyone can bid on prices!

Hi dzimbeck,

Thanks for your answer. I have clearer understanding of the mechanism and thanks also for your geniune effort.

I have one more question , as I understand timelimit , after timelimit; coins in double deposit account will be burned (or destroyed).

Lets assume nobody is cheating, but what happens If Bob is dead after Sally sends cellphone(or after Bob getting cellphone)?

So Sally sends his product , Bob may or may not get the item but before confirming the product he dies , his coins and Sally's coins will be burned due to time limit, right?
If so, is there any protection for this?

Yes there is and its a good one! You see because you only have 50% control of those contracts you can give one key to your wife, lawyer friend or partner or even give them contracts.dat to assist in completion if you are incapacitated. In the future we can take this one step further and use automatic signing of escrows unless told otherwise.

But for now keep it simple. Give your friend one key to your account. They cant get your coins and they can sign for you if you die.

Perhaps parties will request a second contact address for buyers in case of incapacity. The odds of that happening are so low for now, its not worth worrying about.

If Sally has no friends and no family and she dies well... lol Bob is out of luck.

It took us so long, because of a very bad start with a couple of crooks and a lot of FUD involved.
Now that things have settled a bit and we have a nice Slack group surrounding David, we're on the right track again, although with some delay.
But I guess you can understand that.

Not only the sabotage and fud, but i had to make a decision to not hire any coders and work alone. Its stressful but i get more done this way. Also it will give me a little more firepower in the future. To make things even better, I paired up with a friend who is helping with all the back end like articles and building and other things to save time. This allows me to focus on coding only. For example, i was able to update the bitbay source with locktimes in a single day! Markets only took me 2 weeks! Templates will take a few more... so things are way faster now. Plus im staying with my friend it makes life easier than when i was traveling too much.

So expect public beta in a day or two.