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    Author Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg  (Read 542892 times)
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    • 3r197
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    March 07, 2015, 02:59:29 AM
     #941
    Quote from: Gizfreak on March 06, 2015, 05:33:37 PM
    Quote from: dzimbeck on March 06, 2015, 04:34:05 PM
    Quote from: Munti on March 06, 2015, 04:20:27 PM
    Quote from: 3r197 on March 06, 2015, 01:19:03 PM
    Thanks for the replies...

    Hopefully with smart contract tech, the reserve wallets will be unhackable.
    Cause they'd be prime targets on centralized exchanges.

    edit: It seems like some people will never learn that crypto was created so that you don't have to account for other people to hold your money



    Smart contract or not, I don't see any reason to keep my bay on exchanges. If I want to trade, I can transfer the amount needed to an exchange, but keep the rest safe at home. I would advice everyone to do the same.

    Well I agree, to be honest, despite latency I will be trading on NightTrader on my own exchange because im really sick and tired of losing bitcoins on centralized exchanges.
    And that is exactly why I am so enthusiast about BitBay Smiley

    Yes! The day of the "centralized" exchange 'humanly flawed' fallacy is nearing its end. I'm all in on Bitbay, especially knowing that smart money is 'desperate as can be' to find true stability... http://kingworldnews.com/andrew-maguire-smashed-gold-today-hsbc-shocks-clients-closing-london-gold-vaults/

  • Munti
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    March 07, 2015, 07:04:18 AM
     #942
    Quote from: healthhealer4 on March 06, 2015, 07:05:52 AM


    What i'm trying to relay here is that a lower value currency equal less bitbay in circulation and more injection of money to hold up walls, to maintain a peg. By the way things are looking usd will be going down in value and cny will be going up in value, no Cristal ball here but if you go around your house and you look at the bottom of the majority of your personal belongings,  i can almost a-sure you that 90% of them where made in china. The only reason i see to use the usd is because it's easier to give an equilateral in value, so it won't have to be converted to the majority of the users here in this forum. The link was to show that the USA is in a negative balance which is not good for its currency. The only reason the usd is use more around the globe is because of bombs and intimidation, guess who has the highest military funding and presents . I know this pegging is in its beta stage just putting this out ,so when decision are being factor in.

    A lower value currency does not equal less bitbay in circulation. Quite the opposite. If we, with the same marketcap, were to peg to 0.01 CNY instead of $ 0.01, we would have approx. 6 times more bay in circulation. The size of the wall would be the same as it is defined by marketcap, not by currency.
    Like many others, I find part of US politics very disagreeable. I don't think that's relevant for the pegging though, unless there's such a strong anti US sentiment out there that it will have a negative impact on bay to peg to the USD.

  • healthhealer4
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    March 07, 2015, 09:46:00 AM
     #943
    Quote from: dzimbeck on March 07, 2015, 02:22:43 AM
    Quote from: healthhealer4 on March 07, 2015, 02:10:30 AM
    Quote from: healthhealer4 on March 06, 2015, 07:05:52 AM

    What i'm trying to relay here is that a lower value currency equal less bitbay in circulation and more injection of money to hold up walls, to maintain a peg. By the way things are looking usd will be going down in value and cny will be going up in value, no Cristal ball here but if you go around your house and you look at the bottom of the majority of your personal belongings,  i can almost a-sure you that 90% of them where made in china. The only reason i see to use the usd is because it's easier to give an equilateral in value, so it won't have to be converted to the majority of the users here in this forum. The link was to show that the USA is in a negative balance which is not good for its currency. The only reason the usd is use more around the globe is because of bombs and intimidation, guess who has the highest military funding and presents . I know this pegging is in its beta stage just putting this out ,so when decision are being factor in.

    Trust me, I doubt anyone here is proud of America or the dollar. There is a stigma with the usd and pegging coins. Personally, I think a rolling peg is best. Let the price move around as long as we can deflate to catch it. If you wanted to peg at a low price, you would be able to allow more coins in circulation. The higher price (to create walls) would require us to deflate tremendously.

    Imagine if we only had 50 btc walls to support $1. To be sure of that price we would be deflating maybe even 99%. So instead of focusing on that specific price, i think its best to make it a growth target (Chinese Yuan, Euro, BTC, whatever). Just deflate as you need to bring volume back into coin. Because volume is all that really matters in my opinion.

    yeah usa and it philosophy is measured in the remanence left by it war like tactics and remains plus increase because we perpetuate those chains of events(through our global military presents and people preferring usd over there local currency). I hope bitbay can represent a new value and have a new political platform.

    I agree the rolling peg is the most best conceivable plan at this movement, let see if in do time we can get a mastermind going so we can squeeze ever bit of experience in to this coin, to make it great.     

  • healthhealer4
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    March 07, 2015, 10:25:04 AM
     #944
    Quote from: Munti on March 07, 2015, 07:04:18 AM
    Quote from: healthhealer4 on March 06, 2015, 07:05:52 AM


    What i'm trying to relay here is that a lower value currency equal less bitbay in circulation and more injection of money to hold up walls, to maintain a peg. By the way things are looking usd will be going down in value and cny will be going up in value, no Cristal ball here but if you go around your house and you look at the bottom of the majority of your personal belongings,  i can almost a-sure you that 90% of them where made in china. The only reason i see to use the usd is because it's easier to give an equilateral in value, so it won't have to be converted to the majority of the users here in this forum. The link was to show that the USA is in a negative balance which is not good for its currency. The only reason the usd is use more around the globe is because of bombs and intimidation, guess who has the highest military funding and presents . I know this pegging is in its beta stage just putting this out ,so when decision are being factor in.

    A lower value currency does not equal less bitbay in circulation. Quite the opposite. If we, with the same marketcap, were to peg to 0.01 CNY instead of $ 0.01, we would have approx. 6 times more bay in circulation. The size of the wall would be the same as it is defined by marketcap, not by currency.
    Like many others, I find part of US politics very disagreeable. I don't think that's relevant for the pegging though, unless there's such a strong anti US sentiment out there that it will have a negative impact on bay to peg to the USD.

    Thanks for your replay. At first wend bitbay is peg there will be the same bitbay in circulation with either peg(usd ,cny btc or eur), But over time when one currency goes down in value because crypto are first traded in bitcoin you would need more satoshi to represent $0.01 or pull back on coin in circulation.

    Being peg to the usd is debatable it's good we have a mean to talk it out in a civil way here when its in the planning stages.

  • Munti
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    March 07, 2015, 11:14:22 AM
    Last edit: March 07, 2015, 11:45:23 AM by Munti
     #945
    Quote from: healthhealer4 on March 07, 2015, 10:25:04 AM
    Quote from: Munti on March 07, 2015, 07:04:18 AM
    Quote from: healthhealer4 on March 06, 2015, 07:05:52 AM


    What i'm trying to relay here is that a lower value currency equal less bitbay in circulation and more injection of money to hold up walls, to maintain a peg. By the way things are looking usd will be going down in value and cny will be going up in value, no Cristal ball here but if you go around your house and you look at the bottom of the majority of your personal belongings,  i can almost a-sure you that 90% of them where made in china. The only reason i see to use the usd is because it's easier to give an equilateral in value, so it won't have to be converted to the majority of the users here in this forum. The link was to show that the USA is in a negative balance which is not good for its currency. The only reason the usd is use more around the globe is because of bombs and intimidation, guess who has the highest military funding and presents . I know this pegging is in its beta stage just putting this out ,so when decision are being factor in.

    A lower value currency does not equal less bitbay in circulation. Quite the opposite. If we, with the same marketcap, were to peg to 0.01 CNY instead of $ 0.01, we would have approx. 6 times more bay in circulation. The size of the wall would be the same as it is defined by marketcap, not by currency.
    Like many others, I find part of US politics very disagreeable. I don't think that's relevant for the pegging though, unless there's such a strong anti US sentiment out there that it will have a negative impact on bay to peg to the USD.

    Thanks for your replay. At first wend bitbay is peg there will be the same bitbay in circulation with either peg(usd ,cny btc or eur), But over time when one currency goes down in value because crypto are first traded in bitcoin you would need more satoshi to represent $0.01 or pull back on coin in circulation.

    Being peg to the usd is debatable it's good we have a mean to talk it out in a civil way here when its in the planning stages.

    No. You got it wrong. If we peg to same numeric value like in the example above with 0.01 CNY versus $ 0.01 there will be 6 times as much bay in circulation with CNY. If however you mean 0.062 CNY versus $0.01, you are of course right. That would be the same amount of bay in cirulation. Peronally I'm opposed to that. To be consumer friendly we have to choose values that are easy to convert without having to use a calculator.  Also you should consider that bay will not only be traded in bitcoin. I expect investors will continue to do that, but the consumers will get an option to buy bay directly for US $

  • dzimbeck
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    March 07, 2015, 03:44:59 PM
     #946
    Quote from: Inotanewbie on March 07, 2015, 02:28:44 AM
    Quote from: toknormal on March 06, 2015, 07:22:48 PM

    Bitbay cited as needed by other coins:

    https://bt.irlbtc.com/view/421615.msg10683138#msg10683138


    Not really Bitbay but the lack of bitbay would have been good for crypto, because that would have allowed the main man help create awesomeness with his projects that may have taken a back seat while he figure this out Sad

    It is a shame what has happened here to him and i hope he can pull it back he surely deserves it..

    David you are an honest man and your investors i hope appreciate this a awful lot.

    Hey I just wanted to say thanks. Its good to have the support and comments like this really helps me stay motivated. Thank you.

  • spookycoins
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    March 07, 2015, 06:59:30 PM
     #947


    Here's the 30-day snapshot for BAY.
    Steady she goes.

    And yes, David, thanks for staying true to the task and dedicating your time & effort towards bitbay.
    I'm sure there are a lot of us here that are not very vocal in the forums, but consistently come back to check progress.
    I've been holding since the ico and can't wait to see the results of all your hard work.
    That day is coming.

    Looking forward to a demo of the markets!
    That's me on twitter --> @spookycoins

  • bitcoinpete
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    March 07, 2015, 09:38:37 PM
     #948
    Bitbay is dead or not? Im confused I own some myself but Im not getting a clear picture from reading some of the previous posts.
    MIDEX ● BLOCKCHAIN BASED FINANCIAL PLATFORM ●
    ▬ with Licensed Exchange approved by Swiss Bankers and Lawyers ▬
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  • Munti
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    March 07, 2015, 10:18:10 PM
     #949
    Bitbay is very much alive  Smiley

  • Kevinrasf
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    March 07, 2015, 10:49:23 PM
     #950
    Quote from: bitcoinpete on March 07, 2015, 09:38:37 PM
    Bitbay is dead or not? Im confused I own some myself but Im not getting a clear picture from reading some of the previous posts.


    BitBay is more alive then ever before.
    www.heathenmead.com voor Honingwijnen en meer. betaal met Bitcoin.

  • 3r197
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    March 08, 2015, 01:48:13 AM
     #951
    Quote from: Kevinrasf on March 07, 2015, 10:49:23 PM
    Quote from: bitcoinpete on March 07, 2015, 09:38:37 PM
    Bitbay is dead or not? Im confused I own some myself but Im not getting a clear picture from reading some of the previous posts.


    BitBay is more alive then ever before.



    Zimbeck's Bitbay is Crypto 2.0

  • healthhealer4
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    March 08, 2015, 02:42:15 AM
     #952
    Quote from: Munti on March 07, 2015, 11:14:22 AM
    Quote from: healthhealer4 on March 07, 2015, 10:25:04 AM
    Quote from: Munti on March 07, 2015, 07:04:18 AM
    Quote from: healthhealer4 on March 06, 2015, 07:05:52 AM


    What i'm trying to relay here is that a lower value currency equal less bitbay in circulation and more injection of money to hold up walls, to maintain a peg. By the way things are looking usd will be going down in value and cny will be going up in value, no Cristal ball here but if you go around your house and you look at the bottom of the majority of your personal belongings,  i can almost a-sure you that 90% of them where made in china. The only reason i see to use the usd is because it's easier to give an equilateral in value, so it won't have to be converted to the majority of the users here in this forum. The link was to show that the USA is in a negative balance which is not good for its currency. The only reason the usd is use more around the globe is because of bombs and intimidation, guess who has the highest military funding and presents . I know this pegging is in its beta stage just putting this out ,so when decision are being factor in.

    A lower value currency does not equal less bitbay in circulation. Quite the opposite. If we, with the same marketcap, were to peg to 0.01 CNY instead of $ 0.01, we would have approx. 6 times more bay in circulation. The size of the wall would be the same as it is defined by marketcap, not by currency.
    Like many others, I find part of US politics very disagreeable. I don't think that's relevant for the pegging though, unless there's such a strong anti US sentiment out there that it will have a negative impact on bay to peg to the USD.

    Thanks for your replay. At first wend bitbay is peg there will be the same bitbay in circulation with either peg(usd ,cny btc or eur), But over time when one currency goes down in value because crypto are first traded in bitcoin you would need more satoshi to represent $0.01 or pull back on coin in circulation.

    Being peg to the usd is debatable it's good we have a mean to talk it out in a civil way here when its in the planning stages.

    No. You got it wrong. If we peg to same numeric value like in the example above with 0.01 CNY versus $ 0.01 there will be 6 times as much bay in circulation with CNY. If however you mean 0.062 CNY versus $0.01, you are of course right. That would be the same amount of bay in cirulation. Peronally I'm opposed to that. To be consumer friendly we have to choose values that are easy to convert without having to use a calculator.  Also you should consider that bay will not only be traded in bitcoin. I expect investors will continue to do that, but the consumers will get an option to buy bay directly for US $


    Yes I ment 0.062 cny compare to 0.01 usd. Not sure how long the direct to usd trading will happen seeing all the compliance the laws that exist.

    Well when future days provide us with a move clearer vantage point from the successful creation of the market and the pegging, we will see the effort of this coin spawn a new calculated innovation that will lead to the mesh network and IOT.

  • victoryboy
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    March 08, 2015, 06:39:23 PM
     #953
    This is good time to trade in bitbay it looks good and has potential to offer good trading profit.

  • captainobvoius
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    March 08, 2015, 06:46:32 PM
     #954
    Quote from: Bobsurplus on March 08, 2015, 05:38:56 PM
    Quote from: Munti on March 07, 2015, 10:18:10 PM
    Bitbay is very much alive  Smiley

     Grin Angry Grin Cheesy Angry Grin Cheesy

    Yeah sure it is.. It's got no devs, no working tech and david's main partners are Hanlin from bter who just stole 7000 btc from its sites users and his right hand man Steven from Alibaba... Cheesy
    Keep dreaming buddy.

    THIS POST WILL BE DELETED BY DAVID BECAUSE HE CANT HANDLE THE TRUTH!

    ...says BOB who stole 700 btc from Bitbay and fuds his own project. Bob who do you think you are going to convince?  David has working smart contracting software on Bithalo/Blackhalo. By the way, nice try on harming Davids rep. You failed miserably and it obviously bothers you that your lies didnt work. So you think the solution is to keep lying. Scumbag. Don't you realize Bob that lying is disgusting. This is why nobody likes you. You have to pay for friends in Crypto lol. Or in the case of your friend Gekko who sucks you off. You both sold your souls for money. Good going Bob, you are the most disliked person in crypto. Theif.

    Whats even funnier is David ignoring you... hahaha. And by the way, David doesnt run this thread, metakid from their slack does.

    You must not believe in hell Bob, but you will be headed there soon.




    Speaking of Lin,

    [2014-11-11 10:12:06 AM] linhan.ee: 0.01btc has been sent to your address, txid= ac0b1a00de78a488e2fa202959dc6d6dda070d6cdc44a2a63a4183ea77446906
    [2014-11-11 10:12:19 AM] linhan.ee: when you received it, please let me know
    [2014-11-11 10:17:53 AM] International Rob: got it
    [2014-11-11 10:19:00 AM | Edited 10:19:04 AM] linhan.ee: great
    [2014-11-11 10:19:14 AM] linhan.ee: sending  500
    [2014-11-11 10:19:32 AM] International Rob: ok will comnfirm
    [2014-11-11 10:20:47 AM] linhan.ee: 500 in 3 transactions:
    [2014-11-11 10:20:47 AM] linhan.ee: 0ecfe52a2c9a6913a81ef82c09c47a27d5867b95b9abc73bbbd51d2a65ba4819
    [2014-11-11 10:20:56 AM] linhan.ee: e786e93003c29f261189b813cafe2fd4bcac1c937128781988378622a83929d8
    [2014-11-11 10:21:01 AM] International Rob: wow
    [2014-11-11 10:21:03 AM] linhan.ee: 80053c4138dd8a5d4cda1cc5cefa86bf3e1fd5b9bd6a181e74ac5af4740542cf
    [2014-11-11 10:21:03 AM] International Rob: that was fast
    [2014-11-11 10:21:05 AM] International Rob: got them
    [2014-11-11 10:21:07 AM] International Rob: thank you
    [2014-11-11 10:21:15 AM] International Rob: I will get some support put up shortly

  • Gizfreak
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    March 08, 2015, 07:37:23 PM
     #955


    Somehow I feel like missing all the fun with our own sidekick

  • spookycoins
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    March 08, 2015, 08:02:19 PM
     #956
    David, has there been any update/changes to the roadmap on the OP, or are we still keeping the priorities as:

    - Smart Contracts
    - Advanced Smart Contracts: Machine to Machine advanced contract fulfillment (IOT: Internet of Things)
    - Multi-Sig
    - Joint Accounts
    - Muti-Coin Wallet Features
    - Decentralized marketplace (A new approach different from OpenBazaar)
    - Convert BitBay into a hedging coin (price will be pegged to US$)
    - Windows, Mac, Linux, and Mobile Staking Wallets (Android, iPhone, Windows) - In-wallet resources (Chat, Block Explorer, Gaming, Community).

    Thanks.
    That's me on twitter --> @spookycoins

  • dzimbeck
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    March 08, 2015, 08:12:46 PM
     #957
    Quote from: spookycoins on March 08, 2015, 08:02:19 PM
    David, has there been any update/changes to the roadmap on the OP, or are we still keeping the priorities as:

    - Smart Contracts
    - Advanced Smart Contracts: Machine to Machine advanced contract fulfillment (IOT: Internet of Things)
    - Multi-Sig
    - Joint Accounts
    - Muti-Coin Wallet Features
    - Decentralized marketplace (A new approach different from OpenBazaar)
    - Convert BitBay into a hedging coin (price will be pegged to US$)
    - Windows, Mac, Linux, and Mobile Staking Wallets (Android, iPhone, Windows) - In-wallet resources (Chat, Block Explorer, Gaming, Community).

    Thanks.


    Smart contracts, multisig, joint accounts and multicoin was working in BitHalo for over a year thats not a new feature. I didnt write the OP. So here is my current roadmap:

    - Mac/Linux: COMPLETE but I'm waiting to release markets with these. We want to do some tests with volunteers to make sure it runs smooth on all systems
    - Marketplace for BitBay and Halo: This is already working.
    - Templates and counter-offer system, new ui for escrows, etc: This is what is being worked on now

    We should test for at least a week privately in the community before official release.

    Then I'm going to have to make a decision once that is complete.

    NightTrader or Pegging will be after this.

    The developement time for either of these paths are as follows... NT gives us an exchange platform to trade Bay especially off market sale of BitBay reserve using time locks.

    NightTrader microtrading template: 2-4 weeks
    Pegging: 4-6 weeks
    Cold Staking: 2 weeks

  • 3r197
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    March 08, 2015, 10:55:30 PM
     #958
    Quote from: dzimbeck on March 08, 2015, 08:12:46 PM
    Quote from: spookycoins on March 08, 2015, 08:02:19 PM
    David, has there been any update/changes to the roadmap on the OP, or are we still keeping the priorities as:

    - Smart Contracts
    - Advanced Smart Contracts: Machine to Machine advanced contract fulfillment (IOT: Internet of Things)
    - Multi-Sig
    - Joint Accounts
    - Muti-Coin Wallet Features
    - Decentralized marketplace (A new approach different from OpenBazaar)
    - Convert BitBay into a hedging coin (price will be pegged to US$)
    - Windows, Mac, Linux, and Mobile Staking Wallets (Android, iPhone, Windows) - In-wallet resources (Chat, Block Explorer, Gaming, Community).

    Thanks.


    Smart contracts, multisig, joint accounts and multicoin was working in BitHalo for over a year thats not a new feature. I didnt write the OP. So here is my current roadmap:

    - Mac/Linux: COMPLETE but I'm waiting to release markets with these. We want to do some tests with volunteers to make sure it runs smooth on all systems
    - Marketplace for BitBay and Halo: This is already working.
    - Templates and counter-offer system, new ui for escrows, etc: This is what is being worked on now

    We should test for at least a week privately in the community before official release.

    Then I'm going to have to make a decision once that is complete.

    NightTrader or Pegging will be after this.

    The developement time for either of these paths are as follows... NT gives us an exchange platform to trade Bay especially off market sale of BitBay reserve using time locks.

    NightTrader microtrading template: 2-4 weeks
    Pegging: 4-6 weeks
    Cold Staking: 2 weeks

    Thanks for the heads up. I won' hold you to it, but as to other coins, at least your are trying to set a roadmap goal - which is way more than most coins can begin to replicate!

    Got my tax return coming soon. Can't wait to throw some more cheap Bitcoins on Bitbay baggage!!

  • dzimbeck
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    March 09, 2015, 12:33:38 AM
     #959
    Quote from: 3r197 on March 08, 2015, 10:55:30 PM
    Quote from: dzimbeck on March 08, 2015, 08:12:46 PM
    Quote from: spookycoins on March 08, 2015, 08:02:19 PM
    David, has there been any update/changes to the roadmap on the OP, or are we still keeping the priorities as:

    - Smart Contracts
    - Advanced Smart Contracts: Machine to Machine advanced contract fulfillment (IOT: Internet of Things)
    - Multi-Sig
    - Joint Accounts
    - Muti-Coin Wallet Features
    - Decentralized marketplace (A new approach different from OpenBazaar)
    - Convert BitBay into a hedging coin (price will be pegged to US$)
    - Windows, Mac, Linux, and Mobile Staking Wallets (Android, iPhone, Windows) - In-wallet resources (Chat, Block Explorer, Gaming, Community).

    Thanks.


    Smart contracts, multisig, joint accounts and multicoin was working in BitHalo for over a year thats not a new feature. I didnt write the OP. So here is my current roadmap:

    - Mac/Linux: COMPLETE but I'm waiting to release markets with these. We want to do some tests with volunteers to make sure it runs smooth on all systems
    - Marketplace for BitBay and Halo: This is already working.
    - Templates and counter-offer system, new ui for escrows, etc: This is what is being worked on now

    We should test for at least a week privately in the community before official release.

    Then I'm going to have to make a decision once that is complete.

    NightTrader or Pegging will be after this.

    The developement time for either of these paths are as follows... NT gives us an exchange platform to trade Bay especially off market sale of BitBay reserve using time locks.

    NightTrader microtrading template: 2-4 weeks
    Pegging: 4-6 weeks
    Cold Staking: 2 weeks

    Thanks for the heads up. I won' hold you to it, but as to other coins, at least your are trying to set a roadmap goal - which is way more than most coins can begin to replicate!

    Got my tax return coming soon. Can't wait to throw some more cheap Bitcoins on Bitbay baggage!!

    The roadmap isnt perfect but its good to set the goal. Most developers dont like to promise release dates because of how complex coding is. An inside joke in the coding industry relates to the famous company Valve that made Half-Life and Half-Life 2.

    Check this out...
    https://developer.valvesoftware.com/wiki/Valve_Time

    lol so heck if we can get within a few weeks of a release date thats an accomplishment.

  • spookycoins
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    March 09, 2015, 02:34:57 PM
     #960
    Quote from: dzimbeck on March 08, 2015, 08:12:46 PM
    So here is my current roadmap:

    - Mac/Linux: COMPLETE but I'm waiting to release markets with these. We want to do some tests with volunteers to make sure it runs smooth on all systems
    - Marketplace for BitBay and Halo: This is already working.
    - Templates and counter-offer system, new ui for escrows, etc: This is what is being worked on now

    We should test for at least a week privately in the community before official release.

    Then I'm going to have to make a decision once that is complete.

    NightTrader or Pegging will be after this.

    The developement time for either of these paths are as follows... NT gives us an exchange platform to trade Bay especially off market sale of BitBay reserve using time locks.

    NightTrader microtrading template: 2-4 weeks
    Pegging: 4-6 weeks
    Cold Staking: 2 weeks

    Awesome. Thanks for this update David.
    That's me on twitter --> @spookycoins
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