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BitBay (BAY) Is Reaching Critical Mass – Here’s What’s Next

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BitBay (BAY) is one of the companies and accompanying cryptocurrencies that we feel is and has been the most overlooked in the market over the last 12 months and more. That is a big statement but it is not one we make lightly. And over the last few weeks, our expectations for BAY have been validated – to a degree.

The coin currently trades for just shy of $0.37 apiece, up from $0.07 apiece on December 6. This gives the overall BAY ecosystem a market capitalization of $368 million and, over the last 24 hours, we saw volume hit more than $18 million – meaning a little over 25% of the total outstanding coins changed hands.

And for BitBay, and BAY, this is far from unusual. Indeed, changing hands is the primary use case for BAY, as compared to some of the more speculative assets or the more functional ones in this market.

So what is BAY and why do we like it so much?

BitBay is a decentralized transaction marketplace that is set up in a similar fashion to what we might refer to as its namesake – eBay. However, there are a number of key and pivotal differences which ensure that, other than the fact that people are buying and selling across the company’s platform and that the final three letters of the platforms name match those of eBay, the ecosystems are entirely different.

BAY Daily Chart

BAY Daily Chart

It’s built using smart contracts, meaning much of the bureaucracy and the process complexities associated with buying and selling goods and services across pretty much any other platform (be that virtual or real world) are removed.

The company has used what it calls a double deposit escrow system so as to pretty much entirely remove the incentive from either buyer or seller to act maliciously when conducting a transaction. Basically, both users contribute deposit ahead of the transaction and if one or the other act maliciously, both deposits are burnt, meaning both parties lose money.

The platform also allows for custom smart contract templates which means a seller can structure the transaction pretty much exactly how he or she wishes, with pretty much any currency available for use, any deal structure (auction, barter, exchange, or something) available, and many more options that basically blow all of the other online exchange platforms out of the water in terms of seller functionality.

So why is this one running now?

Well, the platform is reaching a critical mass of users and is about to release a brand-new client GUI this quarter. Alongside this GUI, we will see the release of a mobile wallet and the release of the final smart contract templates, which should facilitate increased quality of seller experience (and, in turn, translate to user growth).

Additionally, next quarter, the company is set to implement what’s called a dynamic peg, which essentially allows for pegging of BAY to USD (or another fiat) at the time of a deal closing so as to ensure that the buyer and seller don’t have to be concerned with fluctuating rates while the deal matures to completion.

This is a big deal as it will likely translate to a much higher proportion of transactions being carried out in BAY (as well as the increased BAY deposit count that comes with an increased user base), which, in turn, will translate to an increase in demand and (by proxy) an increase in price of the underlying asset.

That’s why we’re excited about this one and that’s why we think there’s a lot of run room left on current prices – this company is just getting started and we expect it to grow far and fast during 2018.

We will be updating our subscribers as soon as we know more. For the latest on BAY, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of BitBay

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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New Tendencies of Bitcoin Gambling

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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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