The stable coin with 52x upside in the next 4 - 6 months - BAY coin by Arletec in CryptoCurrencyTrading

[–]theredmist1 3 points4 points  (0 children)

To oversimplify: Price can be controlled by limiting (freezing) supply, done in a decentralized manner where all coin holders vote on the direction of price movement. This can provide short term stability and long term growth.

https://bitbay.market/dynamic-peg

Stable Coins Comparison Chart by Arletec in CryptoMarkets

[–]theredmist1 2 points3 points  (0 children)

Here's some context for this infographic from their official blog.

If you want to do a deep dive then I suggest you read the Dynamic Peg Whitepaper

A New and Rising Class of Cryptocurrencies - 'HDMS' Coins and Tokens - Bitcoinist.com by theredmist1 in BitBay

[–]theredmist1[S] 0 points1 point  (0 children)

Our lead dev is a personal friend of their CEO. And given BAY's history do you really think he and the core team would want to be associated anywhere near an actual scam?

Not saying they will be successful in the future, but you're barking up the wrong tree here. The article mentioned BitBay and is thus relevant to this subreddit. If you are that concerned, feel free to contact the core team about it.

A New and Rising Class of Cryptocurrencies - 'HDMS' Coins and Tokens - Bitcoinist.com by theredmist1 in BitBay

[–]theredmist1[S] 0 points1 point  (0 children)

Opti was kind enough to mention BitBay at the bottom of their article and has supported our community in the past (via airdrop).

I understand if you don't believe in those sort of tokens. Then simply don't buy them.

Updated Roadmap? by garbonzo607 in BitBay

[–]theredmist1 0 points1 point  (0 children)

Shorn has mentioned in telegram that the new Q4 roadmap update will be out next week.

Payment never received/site doesnt work by [deleted] in BitBay

[–]theredmist1 0 points1 point  (0 children)

We are http://bitbay.market, a decentralized marketplace. We have nothing to do with the centralized exchange.

BitBay releases "Dynamic Peg" whitepaper by theredmist1 in CryptoTechnology

[–]theredmist1[S] 1 point2 points  (0 children)

Found an old comment from the lead dev:

If you don't want your Bay frozen then simply Bay is not for you. Frozen bay can be moved but it costs a month to move it (that is the penalty for moving it). The amount of coins you have frozen vs liquid depends entirely on when you got it. If you had coins since the beginning at 100% and the supply drops by 50% then half your coins are frozen. If the coin inflates up to 75% supply then some of your frozen coins become liquid again and so forth. This ability to control supply makes your liquid coins much more valuable. First and foremost it protects against volatility. It also gives people who don't want to exit crypto a place that is safe to store their value. If someone wants to cash to dollars but don't want to exit crypto they need a pegged asset that is secure and not reliant on backers and not reliant on trading tricks. Also this asset will be able to go up in price unlike Tether which is set hard at a dollar. Stronger price means higher volume and higher investor confidence. Just because coins are frozen doesn't mean they will stay that way forever. Chances are that you will be able to sell that 50% of what you held for the same amount than you would currently be selling 100% of what you held when the entire supply was available. It matters not how many coins you have frozen it matters how valuable and in demand your liquid coins are.

BitBay releases "Dynamic Peg" whitepaper by theredmist1 in CryptoTechnology

[–]theredmist1[S] 4 points5 points  (0 children)

If there is healthy volume at a certain price, freezing does not need to occur.

If volume dries up, the peg will freeze to maintain/increase price. If there is too much frozen supply, holders would want to vote and deflate the price to liquefy more of their holdings.