Please read up on the dynamic peg. This is mentioned directly on our home page and can be visualized like this:
To force a stable price, Bitbay users vote to keep a price for example 20 cents and then the liquid coins in the total economy are able to meet that price with a restricted supply.
Go to the history panel, you will see you have .6 BAY LIQUID… this is 100% correct.
The rest of the coins you have are RESERVE. These are not going to be made “available” unless the supply inflates.
On the history tab you can see the total supply of the entire BitBay economy. Right now it’s beyond 99.9% deflated. Inflation can potentially unlock some reserve coins. But that decision is made by all users via consensus. Parenthetically, deflation can cause your liquid coins to become reserve (and usually happens in response to the price of BAY dropping).
The reserve coins CAN be sent however but with one restriction, the recipient will wait a month before they can be sent again… and they will still probably be reserve unless the system inflates and then they might be a ratio of reserve/liquid as the ratio of your reserve to liquid coins is constantly changing.
If you plan on sending your reserve coins to the exchange consider they won’t trade at 20 cents, they will trade on the BAYR market where they are going for about a cent or two. The BAYR market operates similar to a future since in theory they may become liquid eventually. So a person trading it can make good money when it converts. If you send to the exchange you should expect that you won’t be able to trade them until the month long freezing period ends. So the exchange will see the deposit but won’t let you trade it until that month expires. And the exchange will also track the peg live so your ratio of BAYR/BAY is constantly changing. Hope that helps.
