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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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