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Author Topic: ANN:[BAY] BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|ICO on Bter  (Read 2831 times)

vindyne8

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BitBay / BayCoin / CryptoBay Project:

“The goal of ‘BitBay’ is to create the entire economy within the crypto space. With the implementation of multiple smart contract methods - such as unbreakable double deposit, Halo contracts, and special time locked contracts with the new CheckLockTimeVerify function, this project can allow all kinds of innovative financial instruments. For example, accounts can be created with two keys that can later convert to three keys. Contracts can be made completely unbreakable, financial derivatives will never go unpaid, and BitBay will be the first coin to convert to a full hedging coin. This means, the price gets locked in after the project proves its developement schedule.

The economy of BitBay hinges on decentralized markets. We are supporting Halo technology by licensing their software. Since we see the amazing value in being part of the worlds first decentralized markets with Halo technology and decentralized Bitmessage markets we are honored to be working with them. The technology that we will use in BitBay is based on BlackHalos market engine that leverages ‘Bitmessage’. Combining the use of proof of burn, white-lists and Bitmessage Channels, these markets will have no central point of failure. The Bitbay blockchain is  impossible to bloat and can scale to meet the needs of international markets.

Furthermore, we use our contact list from Alibaba to help populate all the decentralized markets. BitBay is positioned to replace current online auction websites once the world recognizes the true utility of basing trust on Satoshi’s blockchain tech. After the debut of the markets, we will fork the coin into a hedging coin. This will greatly reward investors who get in on the ground floor, and it will eliminate volatility using a similar system to NuBits. This is all possible because of time locks that allow us to park coins.

BitBay supports Stealth technology. Because of time locks, it will be possible to perform Atomic trades allowing for decentralized exchange.

Bitbay smart contracts are also designed to support the internet of things. We plan on implementing our contracts into hardware. Since the contracts are unbreakable, we will form powerful partnerships in Chinese manufacturing markets and be able to decentralize more than just money. Hardware will store these contracts and be used for honoring agreements and creating mesh networks.

Mesh networks are by FAR the Holy grail of anonymity and freedom. This is internet without IP addresses. Forget, Maidsafe, we want to decentralize the world and make it free for everyone. This is our end goal.

We are proud to say we are a coalition of some very powerful people in Crypto. This is a long term project with a fast paced development schedule.

OFFICIAL COMMENT FROM DAVID:

"Hi, this is David Zimbeck. I'm working on this coin as a project manager, this will NOT distract/detract from my work with BlackHalo/NightTrader. Bitbay approached me and has shown their loyalty thus far. This team is not just one man. We will have a full development team that will work full time on the tech. The people behind this coin are highly connected and I believe they plan on fully funding the development of Smart Contracting technology. In turn this will actually speed Halo's development schedule. Like stated on reddit, we form powerful partnerships unlike the world has ever seen. This makes Blackcoin and Halo stronger. We now will have some much needed support and something to hedge with. So that's my official statement. Now lets wait and see."
 
Markets are fully hard coded into the client. We believe that the community makes the coin, therefore we list this coins initial features as follows:

*No volatility with hedging
*Unbreakable Smart Contracts
*Advanced contracts with Time locks
*Decentralized Markets
*Anon Stealth
*Hardware Smart contracts
*Mesh-Network
*Community driven

We have many more surprises in store and the development talent to make this a reality. We support our developers unlike other coins and see this as a business. This list of tools will be our first accomplishment and from there we will add many more exciting features to follow. Be prepared to see a full economy where everyone can go to perform any kind of business. This project will bring larger markets into crypto. I would like to personally thank you for taking the time to research this project.  Please do not hesitate to ask any questions. We will be happy to answer you as soon as possible.



To learn more about Halo(released May 29th) which was the worlds first smart contracting, multicoin, and multisignature client see (http://blackhalo.info) or
(www.bitHalo.org)



Overview:

BitBay will introduce a completely unique, open, and decentralized marketplace that allows anyone - in any country - to participate regardless of government boundaries.

BitBay will  provide a stable, secure, and safe environment to buy and sell products and services over the internet.  Our technology runs on top of a blockchain decentralized network which ensures that reliability, performance, and accuracy is guaranteed at all times. Theft is not possible through BitBay.

The platform, by design, contains no single point of control, points of failure, or single points of security.  All crucial functions are decentralized and consensus-driven by all users participating in the network.  BitBay is designed with low barriers of entry, allowing anyone to become a reputable merchant or to participate as a buyer, all based on multisig + smart contracts. We will be developing a free and democratically decentralized global marketplace.





Windows: (Available before ICO distribution)
Mac: (Available before ICO distribution)
Linux: (Available before ICO distribution)
Android: (Available soon after ICO distribution)
iPhone: (Available soon after ICO distribution)





BitBay will feature an in-wallet marketplace much like Amazon, Alibaba, and eBay which will utilize it’s own cryptocurrency (BitBay). Not only will users be able to buy and sell goods, but BitBay will include a digital distribution service for “decentralized software”. This will allow content producers to distribute digital downloads in the same fashion as the Apple Store, iTunes, Google Play, etc. BitBay will also include geotracking technology allowing users to locate car rental services, maids, painters, and a complete range of other local services. To comprehend the vast array of services possible, please consider something like ‘Craigslist’, but utilizing our currency, smart contracts, geotracking, and multi-sig agreements. Especially due to our built in smart contracts technology, BitBay users will be able to buy or sell art, skills, talents, or any other valued commodity.

   Simply put, the world of commerce is about to change. The BitBay platform is set to completely decentralized the way merchant services and online auctions are done through the internet. BitBay will provide much of the the world with its first taste of how crucial it is to utilize the ‘Blockchain’ when doing business between two parties. Never again will there be a lost contract, invoice, receipt, will, notary, or any other binding agreement. It’s all there, searchable, and completely transparent.

The BitBay project weaves together Smart Contracts, Multi-Sig technology, and Reputation Vetting all tied into a unbreakable marketplace located on the BitBay Blockchain. The power of such a marketplace has no boundaries. This is the revolution of free trade.

Our investors can be rest assured in knowing that BitBay has one of the top developers in crypto community behind the wheel. Many more examples, technical review, and additional details of the BitBay platform will be added here within the coming days.









The general concept behind Smart Contract technology was first conceived by Mr. Nick Szabo in the mid 1990’s. Since that time, there has been many software engineers, theorists, and cryptographers who’ve been working diligently to crack to code on the best way to make their dream a reality. Fast forward 20 years, and individuals such as David Zimbeck, Peter Todd and others have begun to fulfill their dreams. At a basic level, contract security can be based on what programmers would call a “if-then” statement, but instead of taking place in strictly computer software, these statements can resonate into the real world and become completely unbreakable through Satoshi’s Blockchain technology. When BitBay’s pre-programmed conditions are triggered, the smart contract executes the clause and everything appears directly on the Blockchain for the world to see and verify.

These contracts are unbreakable, enforceable, and completely secure while simultaneously giving equal rights to both parties involved in the clause.

Here are some useful links regarding Smart Contracts and BlackHalo technology:

- http://www.fastcolabs.com/3035723/app-economy/smart-contracts-could-be-cryptocurrencys-killer-app
(More links coming very soon)


Test version of our Smart Contracts advanced wallet. Please keep in mind that this is a preview image of things to come.




Let’s face it, the internet is now a seamless part of everyday life for most people all around the world. PC’s, handheld devices, WiFi, game consoles, and even vehicles are connected to a mass neural network we call “the internet”. Our team feels that although the internet is a beautiful resource and tool for humanity, it is not without some obvious flaws. Our focus currently is getting around the fact that the internet now completely centralized and controlled by the worlds government elites and corporate entities. This is a monopoly that must be stopped before regulation and control gets out of hand.

BitBay’s Blockchain will have the power to contain a new system of accessing the world wide web. Smart objects (with digital tokens) can now be linked to physical objects in the real world. Thus, smart objects now become ‘smart property’. So what’s this mean for the average person?

Let’s say you want to buy a car. As a smart object, your car is now part of the BitBay network. By utilizing our marketplace and smart contracts, the parties involved can make the trade and the car will now only unlock for the rightful owner which is proven on the Blockchain. Simply ‘sync’ the car to your wallet using your smartphone and make sure you’ve got a full tank of gas! The future of digital transactions are endless and seamless!

This is the future, this is the internet 3.0! All things will be networked and the beginning starts now with BitBay.

"Looking to the future, Cisco IBSG predicts there will be 25 billion devices connected to the Internet by 2015 and 50 billion by 2020. It is important to note that these estimates do not take into account rapid advances in Internet or device technology; the numbers presented are based on what is known to be true today" - http://postscapes.com/internet-of-things-market-size


Useful Links on ‘IOT’ technology:

- http://www.coindesk.com/ibm-sees-role-block-chain-internet-things/
- http://www.bigdata-startups.com/BigData-startup/what-is-the-value-of-the-internet-of-things-infographic/
- http://www.businessinsider.com/growth-in-the-internet-of-things-2013-10





Useful Links on Multi-Sig technology:

- http://bitcoinmagazine.com/11108/multisig-future-bitcoin/#
- http://www.coindesk.com/bithalo-smart-contracts-without-block-chain-bloat/




Coin Specs (POS 2.0):

- Block time: 64 seconds
- Nominal stake interest: 1% annually
- Min transaction fee: 0.0001 Bay
- Confirmations: 10, maturity: 50
- Min stake age: 8 hours, no max age
- Total: 1 Billion
- Ticker: BAY

BitBay Features (Currently in Development / Upcoming Releases):

- 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)
- POS 2.0 (Theoretical “51% attack” is nearly impossible)
- Convert BitBay into a hedging coin (price will be pegged to RnB)
- Windows, Mac, Linux, and Mobile Staking Wallets (Android, iPhone, Windows)
- In-wallet resources (Chat, Block Explorer, Gaming, Community).
- Proof of Developer (POD) and Crypto Certify ratings in progress.

Much more to come..

Available for use immediately upon ICO completion:

- Windows QT wallet (Certified)
- Mac QT wallet (Certified)
- Block Explorer
- Android / iPhone wallets will release within just a few days of testing on the blockchain after initial coin distribution.





The Initial Coin Offering (ICO) will be available exclusively through Bter.com starting on Tuesday, November 11th.

Please click the link below to register a new account with Bter.com:
https://bter.com/login

- Total Coin Supply: 1 Billion
- Starting Satoshi Price:
252-264 satoshi -Day 1
264-276 satoshi -Day 2
276-288 satoshi -Day 3
288-300 satoshi -Day 4
300        satoshi -Day 5
Price will go up 1 satoshi every 2 hours on the hour.
- Ticker: BAY
- ICO Starting Date: 11th Nov GMT 13:00
- ICO Conclusion Date: 15th Nov GMT 13:00
- Total BTC limit cap for investors before expiration: 3000 BTC
If any coins remain unsold at the end of the investment period, they will be burned by Bter Exchange. Thank you!

BitBay requires serious investors to develop, secure, and maintain this revolutionary decentralized e-commerce platform. An investment in BitBay is an investment in the future of e-commerce. A marketplace built for everyone.





- Block Explorer (Will be released before ICO phase completion)
- Games (Dice, Wheel, Poker, and more - Game releases will come along with user demand)
 



News articles will be posted here as they appear online. We are currently reaching out to the most popular US and Chinese cryptocurrency related websites as well as various other media outlets. Keep your eyes on this space.


Social Media:

- Facebook Like Page: https://www.facebook.com/pages/BitBay/1495718394045477
- Twitter: https://twitter.com/BitBayMarket


Final Word:

Ever since the Han Dynasty (206 BC) the Chinese have been pioneers in opening marketplaces and trade routes to connect their own people with the peoples of the world. The evolution of the original Silk Road (or Silk Route) led to the most prolific open marketplace in the known world. Free markets were one of the driving forces behind the rise of early Chinese civilization.

Now the forces of e-commerce, cryptocurrency, and decentralized marketplaces are gathering again in the East. This time to create a decentralized online marketplace that cannot be controlled by any government is NOW. BitBay will integrate the worlds largest population with with the rest of the online world in a decentralized online marketplace that will operate in many ways like other well known online auction sites - but that will operate without centralized ownership. Once BAY is finalized, it can never be taken out of publics hands.

Please let us know if you have any questions and our marketing or development team will be contacted as soon as possible to answer your questions. Please keep in mind that we are a global team and time-zones will determine how soon we can reply. We'll do our best to reply to all questions and concerns in a timely fashion. Thank you for your interest and support!


Launch countdown http://www.timeanddate.com/countdown/generic?iso=20141111T13&p0=136

vindyne8

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560 BTC sold in just the first 3 hours! https://bter.com/trade/BAY_BTC First price change happened. Grab yours now!

vindyne8

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Closing in on 750BTC sold in the first 13 hours. Price goes up by 1 satoshi every 2 hours. Grab yours now!

https://bter.com/trade/BAY_BTC

vindyne8

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Well over 1000BTC sold. https://bter.com/trade/bay_btc

Board the train now!

vindyne8

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Well over 1300+ BTC sold, almost 50% of ICO is now gone. 45.5 hours remain to grab your seat on this train!

https://bter.com/trade/bay_btc

vindyne8

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Still undecided whether to invest or not? Check out the AMA: http://www.reddit.com/r/BitBay/comments/2lwx22/ama_with_bitbay_and_dzimbeck/

Grab your BAY here https://bter.com/trade/bay_btc

35 hours left!

vindyne8

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BAY 38% remains, nearly 1700BTC sold so far, final 20 hours for cheap coin on BTER.

Grab yours here: https://bter.com/trade/bay_btc

Principe

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BitBay Technology Demo #1 - Smart Contracts:

★ GMC: GMe3xphPgHMVpKXtgUS1PDceQ9oZMePJr7      ★ ORB: oX9m3i3HUDr5hfyvWBJoyf8CMqajqMsivf    
★ WMC: wRarR72pv48RmqBwo6yNPwtdEpfRb7CXFL     ★ FUJI: FYLPULhtEogiXtW4xHUcShuxXf4oz2uPvk
★ OK: PPeXXxAzGHwLFr66MoqrqJjZZoHaXKVXNW         ★ XMG: 97fNfgmgSEQ4Gzq5e7pDuVR646Qinhh4on

vindyne8

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We've compiled a bit of information about some of the core team members behind BitBay. We will always listen to the concerns of our supporters and we feel deeply honored to have such intelligent investors with us at the ground level.

Team Member Bios:

David Zimbeck - USA / Cambodia - Born and raised in Los Angeles, California and currently living in Cambodia. David is a long time cryptography & bitcoin community member and widely respected developer / creator of Black Halo technology for BlackCoin. He is the lead developer of the BitBay Project and our development team manager. He also enjoys a good game of chess.

Rick K. - New York, New York - Private sector entrepreneur and online marketplace expert. Rick is our mainland China liaison with Alibaba.com. Rick has signed an NDA and therefore the public scope of his involvement with BitBay will reflect that agreement. Rick is coordinating the integration of established vendors into the marketplace.

Jay Lin - United Kingdom - American born and raised in the United Kingdom. Jay Lin grew up in London, earned his computer science degree from University College London and has spent much of his career there, but his family roots are in Taiwan (ROC). Speaking several asian languages and culturally fluent in Asian business methods and etiquette, Jay is head of marketing and brand management for BitBay.

Edward (Eddie) - Korea - Web development. Eddie is our master geek, fluent in multiple programming languages and especially talented in engineering large user account systems. Ed is a long time fan Kung Fu movies (Bruce Lee). He loves philosophy and anthropology.

Nicos - Russia - Crypto enthusiast since 2012. Computer science degree. Marketing experience. Nicos earned his cred in the rough and tumble years of the new Russian capitalism, and has ties with some major bitcoin payment processors. Nicos is also governed by a nondisclosure agreement that limits his public profile. Dog lover. Serial Entrepreneur.

Holly - Taiwan - Manufacturing, Factory management, Connections with top Alibaba vendors. Holly comes from one of Taiwan's most deeply rooted commercial families and has over 20 years experience with sourcing western production in Chinese factories. She also holds a NDA agreements with several online marketplace companies. Her most recent specialization has been mass production of cellphone accessories including iPhone cases. Holly found her way to us through her latest venture, supplying bitcoin ATM’s to Taiwan and Mainland China.

Profile images coming soon.

vindyne8

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BitBay has sold out!

BitBay currently #1 in Volume on BTER!

Check out the AMA : http://www.reddit.com/r/BitBay/comments/2lwx22/ama_with_bitbay_and_dzimbeck/

and the BitBay Demo video: https://www.youtube.com/watch?v=ieTIr71Sb3c&feature=youtu.be
« Last Edit: November 15, 2014, 02:07:26 PM by vindyne8 »

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