BitBay 20/05/2015
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Crypto Currency > B
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BitBay “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.
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.

Information BitBay Scorecard

Merchants No
Audited No
Website Yes
Facebook Yes
Twitter Yes
Google Yes
Forum Yes
Investor alert Yes
Coin Market Cap Yes
WorldCoinIndex Yes
CoinGecko Yes

Total 65%

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Information Information

Hash Algorithm: SHA-256
Symbol: BAY
Scheme: Proof-of-Work

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Information Markets

Roadmap Roadmap

This information is not yet available.

Windows wallet Source & Wallet

Useful links Useful links

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Extra information Extra information & Specifications

Specifications: 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
Extra information: - 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
- 500 btc at completion of ico / delivery of initial wallet. (This threshold has been met.)
- 500 btc at delivery of wallet with integrated smart contracts
- 500 btc at delivery of our decentralized marketplace
- Balance of funds after 60 days of stable marketplace performance. At this time the BitBay team will also be releasing its Phase 2 road map.

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