/biz/ - Business & Finance

Currency has literally no value

>>12642322
I have SAFEX. Is this essentially just the same thing?

>>12642322
Based autistic bitbay shill

The dev come back from his holiday in Cambodia yet?

>>12642336
That's a low market cap gem.
The currency has inherent value, it will be the first PoS 3.0 coin to be dynamically pegged & is used to secure the contracting system's escrows (pic related).

A dynamic peg is a decentralized way to reduce negative volatility while still allowing long term free market.
Basically it secures the currency against negative manipulations or huge market swings, hence helping nurtering organic demand & keeping the price stable short term wise.
It's using a liquid/frozen coin mechanism that is democratically voted by stakers.

As escrows are secured by temporary locked $BAY & that peg voting is done by staking your coins on your computer, it protects the $BAY price value, while at the same time the dynamic peg helping to protect the short term price value.

>>12642350
I consider SAFEX to be a scam. It has no working product or a roadmap that makes it stand up in a way.
The closest thing to Bitbay is Particl but it is a different project, it has different goals and thus is not doing a web marketplace or a dynamically pegged currency like Bitbay is.

>>12642357
What are you talking about ?
There is a full team of developers commited to Bitbay's development.
The project keep making meaningful progresses even in the bear market.
It's not a weak project, it's been in development since years.
It has a mission to accomplish and will achieve it.
$BAY is literally the project I trust the most, among all projects I'm invested in (besides crypto marketplaces I have an interest in DEXs).

Things that are 18 months away
Bitbay peg
Link Main net
Bitcoin Lightning network
Redd ID
Bitcoin Cash Flippening

>>12642604
What are you even talking about ?
Indeed people have waited for the dynamic peg release since now a few years, but right now it's the closest it has even been to be released.
The Bitbay's dynamic peg has succesfully been private & public tested !
It already is done & working !
Now the dynamic peg's developpers are working on the integration with exchanges so that the peg gets adopted by exchanges.
It will normally showcase its first dynamic peg demo on the exchange bayex.io, but the goals is of course that all big exchanges like Bittrex or OEX accept the dynamic peg, so Bitbay is doing the necessary to achieve that.
In the meantime, there is the Peg's 30 or so pages whitepaper to read for those that like reading about good tech.
There's also this short intro : https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf..

Hoping for a pump so I can dump my bags I've been holding for 2 years
Was in idiot that didn't sell during that huge run up

>>12642733
That's crypto for you.
The whole crypto market picked at over 820B.
Then here we are at 120B.
That's proportionally a huge decrease but quantatively these are still small numbers compared to the dotcom bubble or stocks.
Talking about proportions, it's not the first time such huge decreases happen, look at BTC history over the years, but it always recovered & went even higher after the recovery.
I would have too prefered to sell high & buy back low, but I'm long term investor and I worry not about crypto & Bitbay's long term as it's truly a societal game-changer.
I do think that next bullrun will reach even higher numbers than the previous fall/winter 2017.

Good luck dumping after the peg. First priority of peg will be to get solid investors to vote to freeze 50-75% of the total supply With intentions of unfreezing back to 0% over the course of several months. You won't be able to dump. That's the whole purpose. Investors dictate how much you can sell. And by the time it returns back to a 100% liquid supply, you'll wish you never sold any at all.

>>12643150
Pipe dreams. Living in fantasy land if you think this is getting any sort of traction and adoption

>>12643150
He could try to sell his frozen coins on a future market but obviously frozen coins wouldn't be as valuable as his liquid coins at all.
A frozen "future" kind of "crypto bonds / loans" market would be possible, but at first I don't know if exchanges would enable it.
Although for sure, it can be done p2p on Bitbay web or desktop marketplace.
In any cases, as long the demand follows, he could sell his liquid funds at a good rate as the value is protected / increased by the liquid supply rarity that the peg would create.
I do agree that most investors would like you said try to freeze most of the liquid supply at first with the intention of unfreezing it over the months.
Especially as the default peg algo price target is in satoshis, it was equivalent to $0.2 / BAY I think one month ago, so to reach that it would need quite a huge freezing proportion.

>>12643177
That's one someone that doesn't understand or doesn't know the technology behind the dynamic peg would say.
Educate thyself, there's this short intro linked here >>12642681 or the whitepaper there : https://bitbay.market/downloads/whitepapers/bitbay-dynamic-peg.pdf..

Hard centralized pegs like Tether always have failed, either in principle either in application or both.
Economically speaking, the dynamic peg of Bitbay will be the first fully-decentralized sustainable peg ever created.
It's nurtering organic demand democratically while letting the free market be long term wise.
That's a peg that is flexible enough to endure the chaotic free market while at the same time following the will of the investors that democratically voted using PoS 3.0 staking the rate of supply liquidity which influences the price of a single liquid coin.

It's not easy to understand for many, so I think it's best to focus on the fact that Bitbay will be the first truly decentralized trustless crypto web marketplace.
That everyone understands. A real crypto alternative to Amazon/eBay.

>>12643177
That's what someone that doesn't understand or doesn't know the technology behind the dynamic peg would say.
Educate thyself, there's this short intro linked here >>12642681 (You) or the whitepaper there : https://bitbay.market/downloads/whitepapers/bitbay-dynamic-peg.pdf..

Hard centralized pegs like Tether always have failed, either in principle either in application or both.
Economically speaking, the dynamic peg of Bitbay will be the first fully-decentralized sustainable peg ever created.
It's nurtering organic demand democratically while letting the free market be long term wise.
That's a peg that is flexible enough to endure the chaotic free market while at the same time following the will of the investors that democratically voted using PoS 3.0 staking the rate of supply liquidity which influences the price of a single liquid coin.

It's not easy to understand for many, so I think it's best to focus on the fact that Bitbay will be the first truly decentralized trustless crypto web marketplace.
That everyone understands. A real crypto alternative to Amazon/eBay.

>>12643366
A self taught hobby coder (zimbeck) is going to change the world with his revolutionary peg. K babe

>>12643150
He can still sell his liquid coins at a great rate as the liquid coins price would be increased and protected by the rarification of the liquid supply due to the peg freezing.
So he would still be able to "sell".
Although he would be left with his frozen coins.
He could try to sell those, obviously at a far lesser price than the liquid coins on a future market.
If centralized exchanges don't set up a frozen supply future market at first, then it could definitely be set up on bitbay web or desktop marketplaces, or any place that allows p2p selling/buying, or simply by posting an offer on a chat.
In any cases, he will have possiblities and he keeps the freedom the sell his liquid coins at the best rate possible.

I do agree that at first investors would chose to a great portion of the supply. It would be really good for the price & project visiblity.
The default algo price target is a portion of BTC price. I remember some months ago this portion in satoshis was about equivalent to $0.2 / BAY. So it would be at least a 10x/20x increase if all major investors agree on that, and think they will.

In any cases, like you said, he wouldd wish he never sold as once the dynamic peg effect will really kicked in, it will boost the organic demand and be great for investors that have patience. Especially when you can stake your coins in the meantime, for comfy 3% or more gains, depending if you stake your liquid coins or frozen coins or both.

>>12643400
How ignorant are you ?
First thing, David Zimbeck has proven to be a great coder. He literally released the first crypto smart contracts in 2014 for BTC, before Ethereum.
All the tech he's created has been tested to work great by the private testing team & the public testing, both the peg, the smart contracting system, the p2p anon marketplaces and the security features.
It's not because you're self-taught that you're a bad coder, on the contrary, if you're successfull like David, then you've proven your value as a programmer.
The project is running since 2014, it's proven & tested, with a real product. Not some empty promises like most projects, but real use-cases with a real product.
Not many projects achieved real use-cases like this selling real estate :https://www.biggerpockets.com/forums/223/topics/500242-i-just-sold-a-property-using-bitbay-s-blockchain-smart-contracts or the countless other things that have been sold on Bitbay's desktop marketplaces.

Second thing, it's not just Zimbeck, there are many developpers on the Bitbay team coding both the peg & the marketplace, including the trustless contracting system & security features.
Zimbeck is popular but don't forget that it's not a one man show, there's a whole team behind it.
And if anything, Zimbeck is a great mind, look at the Dynamic Peg's whitepaper, it's revolutionary stuff. That can happen that some individuals manage great things as proof.