Thanks for helping me understand the complexity. I see what you mean now.

I'll keep 'stewing' on the concept.

Yeah, I think when the pegging is done and proven to work well then a lot of websites would be inclined to go with bitbay over all other crypto for price stability.

David seems excellent but is only one person.. the work behind the scenes is probably unimaginable to a person not familiar with this kind of work.

Problem is how can we speed things up with such a low market cap and low level of interest. W

On the other side of the argument.... could be best to keep it on the low burner whilst we try to grab up more cheap bitbays.

Depends on how much you believe in the coin i guess. I keep adding a few here and there. Would love to get 10M eventually.

The thing i like about bitbay is the features are very useful for everyday buying and selling online not just gimmicks like with some other coins.

Bitbay is extreme under valued! Nobody knows about it.

Well it is undervalued because the casual investor only cares about price and not tech. Half the projects dont even have a real dev and are just fake. Even Etherium had absolutely no product for years and spent the entire time raising money with no actual proof of concept.

There is a lot of senior bitcointalk members interested and obviously the code was of interest enough to draw a lot of people to its unfortunate launch.

Also, it is fair to mention the progress made on the client in the last year (comparing screenshots alone) a lot of features have been added and of course the decentralized markets.

The people we have on our team are mostly the slack members. We have a couple people who did graphics mostly meta who did our site which I have to admit looks excellent. And the slack members helped find artists for the new logo, promotional materials and everything else which I made sure everyone we contracted got paid of course.

The reason the QT is buggy is because it was not built with complete source code. Oxidians github is missing files so it cant even build bitbayd for some platforms. I have a more updated source which is good for the daemon but it wont run qt. It would be nice to see a new qt but we have to consider that very soon it will be phased out. I might even fork early to get rid of the qt before we even start to peg.

I just bought a new laptop today actually for testing and may buy a couple more cheap ones just to see a few different systems. Aside from any VMs im going to run.

By the way, to avoid the sync, you should look at how Ive coded Bithalo. That version of Halo actually doesnt download a blockchain.

The reason i download a blockchain for Bitbay and BLK is because I want to make sure the data is 100% reliable (like blockchain.info). I used 3 different apis for Bithalos balance checking to avoid mistakes at all costs since these are contracts and we cant afford unreliable info.

HOWEVER, since Im coding a decentralized exchange, technically im going to have to start relying on online block explorers for altcoins. Plus, i dont see why bitbay cant do both once that functionality is complete? Just a though. I'm trying to not promise more than I already have on my plate though.

Some sales have been done on the Bitbay market. Someone sold a tire pressure gauge, trading cards, cash for coins, fawcet contracts, stickers and promotional materials. So I think thats a pretty good start for our first year. Hell the only thing anyone ever bought with Bitcoin was a pizza! For like 10,000 btc haha

The reality is, I would LOVE coders. Did you know that I posted to find someone to simply build a cross platform blackcoind and bitbayd build on reddit and on a few job search platforms and found absolutely nobody?!?

It was sad, I have a hard time simply getting a damn build. Of course, Im going to build those myself but to get them cross platform and stable requires some testing and ive been working on other things.

I was in Cambodia, tried to hire, had 3 coders who didnt contribute a single line of code. Sad i know. I spent 1 month training them and after saw the sluggish speed of how they struggled and gave up on them. Two of them quit. They only really managed to build the daemon, get blackcoin and bitbay running and they practiced on some small projects i gave them that took them forever. A thing one of them took an entire week to do, i did in one hour.

So I tried to look into India, was there for a month, but found out that i need to apply for a 3 month or more visa from the usa and India doesnt take bribes anymore haha. So that was out. Plus they are ballbusters anyways. I was concerned about the training issue and time commitment since I knew I had to produce markets asap... ( so i did ).

I tried hiring a guy from Blackcoin under a BlackHalo contract for a basic refactor. At first it was good, he did a decent amount of work (proof that double deposit works!) BUT he started to get lazy after 2 weeks. He had a bunch of things changed with file management, cleaned up some stuff etc. The problem was, I was working on the code at the same time and we werent using github. SO he was frustrated since I didnt merge the code, he asked for about 5 time extensions and eventually disappeared completely. So the contract ended.

Unfortunately, I ended up not using a single line since I already refactored the file mangement in Halo core myself.

So I also tried hiring a few other crypto guys but they take weeks to respond and just suck. They either dont understand my source code, or are obviously planning to pad their hours. (where are the good cheap ones hiding?)

I'm looking into hiring here in Mexico... since I'm not far. And the quality and price might be alright plus i speak spanish. But its very hard to say again if they will understand the code or bitcoin. Coders are hard to find. Bitcoin coders are impossible to find. Cheap bitcoin coders are like unicorns... they dont exist.

So, I'm stuck coding alone. And by the way your assessment was correct. The amount of work for one coder is insane and unhealthy! But we've made it this far, this client is like 10000 times more badass than any client out there. Its STILL the only client in the world that does contracts, still the only one with true decentralized markets, and like 10 other cool features.

On a side note about marketing, to bring in some extra cash and to help a buddy out, I spent the past week making some marketing bots for a friend... and maybe they can be useful for crypto related projects. Mostly for forums, online promotion social media... all automation bots. The thing is, I'm not so interested in marketing heavily until the pegging is complete so we dont worry about volatility.

By the way, are you on slack? Its been a bit quiet there lately.

I wouldnt say anything I'm doing is secret... because its hard work anyways and I share source with other devs. But finding someone qualified is hard. The syscoin dev hangs out here, but i know he is super busy on his project... most good crypto devs are busy with their own thing

Ive got some Bitbay I could chip in, I've not spent any of it since the launch. In fact, I bought a little bit when it was low at 40. But you know a dev might want BTC? I'm not sure but its an interesting idea. We could look for devs in reddit at r/bitcoin or even on odesk. But finding a cheap one who is trustworthy who doesnt procrastinate and who follows through is almost impossible. This is why I'm looking into Mexico. Plus I've got tons of friends down there.

In the meantime, I'm here coding! Right now setting up my new computer and building distributables. The speed of my updates will pick up very soon! Now I'm home, no distractions and just catching up on work.

Only the QT wallet is buggy. The markets wallet only has a few minor bugs but nothing that interferes with markets or contracts.

Poloniex is almost definitely looking for VOLUME. That brings them money and low volume will not make them want to bring it on.

Hopefully when I get to coding NightTrader that the decentralized exchange will be fast enough that people will want to use it. I'm still facing some speed decisions.

Either way, this year we should see the complete client.

l m also holding since ico and no intentions to sell, Bay will be huge.Thanks very much David for great work you have done so far.
 

The chain can be downloaded quickly at Cryptochainer.

http://cryptochainer.com/dir/

A long blog about smart contracts.

Thought it might be of interest.

Bizarre he thinks you need lawyers still and doesnt seem to know about Halo. You dont need lawyers/courts with Halo and Bitbay since enforcement is built in.

Why would he write the article and leave out the Halo use case? Since those contracts dont have the problem he described at all. Since the protocol relies on the already existing rules of the blockchain.

There is an extremely lucrative real estate trick that you can do very similar to the one mentioned above. Anyone who wants to make a killing can do this although its not entirely fair to buyers and sellers. Its called "double escrow" not to be confused with double deposit. Basically, in real estate you offer a listing an exclusive option in exchange for a dollar or whatever they accept. The option agreement might give you a few months to decide to execute. Then you secure an escrow company to find a cash buyer. You underbid on the house you optioned (like a 1 million dollar house you offer 900,000). THEN you find a the cash buyer who wants a 1 mil house for 950!

Next part is easy, you set up two escrows and pocket the difference. This amazingly is legal! It doesnt even need to be disclosed in some states which is totally ridiculous since most RE transactions require disclosing things as ridiculous as a ghost being on the property! (like how could you prove that)... Anyways, the difference in net is zero risk for the person securing the escrows. They make 50,000 on a deal they were never involved in. Double escrow was one of the many reasons for the real estate crash because of inflated prices and the ease of the deal.

Now consider that there is another deal much more effective since it eliminates you completely and you operate 100% as a silent middle man. You do the same, underbid on a million dollar house at 900,000 but maybe do it to 100 houses getting the options as cheap as possible. Then you shop the underbid portfolio to buyers and their real estate agents. This is called "find and assign". The find and assign technique is just literally options and selling the actual piece of paper since you add a clause in the contract to make the option assignable. Now you are an invisible middle man who can net anywhere from 1-50 thousand dollars per assignment depending on how awesome you got the bid. (Imagine if you bid on a hotel or a bulk amount of land, the assignment becomes extremely valuable if the bid was good).


These are examples sidhujag just like you mentioned above. Good business models but totally contrary to a realtors fiduciary responsibility. Find and assign is more ethical than double escrow since the lack of disclosure is a little unfair to the parties involved. As a realtor, I am forced to disclose double escrow here in california but in some states i think its still okay. In fact, these deals not having a license is better than having it since there is absolutely no fiduciary responsibility. Knowledge of the law actually hinders you.

Traditional real estate is totally corrupt. Especially zoning laws which have basically zoned off grid living out of existence and is a direct infringement on the freedom of mankind.

Anyways, sidhujag you are actually correct in your assessment that people will take a very long time to warm up to smart contracts since it requires them to think differently about everything they do. Also it moves consumers from a "trust" society to a "trustless" one. Of course its superior, but it takes time for people to adjust. I hope they wake up sooner than later. Hopefully one day people will decide they have had enough of middle men jacking up prices of everything.