Question about Bitbay.net

#1

Is Bitbay.net a part of the bitbay.market properties?

#2

@CryptoRays
No bitbay.net is a seperate entity (a centralized exchange)
bitbay.market is the website for bitbay cryptocurrency

#4

Remember that we (Bitbay the crypto-currency) is decentralized, open source & blockchain based. We can’t be shutdown for this very reason. There is even a proof of that as long ago the original founders left and the project was taken over by the community.

On the other hand Bitbay.net is a centralized business. I insist on centralized. This means at anytime they can shutdown and be gone forever. This wouldn’t be the first time for an exchange. Heard about Mt. gox? Where is it now? It is dead. This despite “it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world’s leading bitcoin exchange.” (https://en.wikipedia.org/wiki/Mt._Gox).

So Bitbay.net the centralized exchange might as well die at any time while we (bitbay.market) is there to stay.

" Sadly I see no point in investing in this project under the Bitbay name."

  1. Bitbay investors invest in our technology, not in our brand name because our technology is great.
  2. People actually like the Bitbay brand name.
  3. Brand names can change at anytime (it’s called “rebranding”) but technology is what stays and matters the most.
  4. Investing money solely based on brand names instead of technology is more gambling than a real investment. If you want to do good investments, I cordially invite your to first research the technology, and you will see that ours is good.
#5

It is more like an coincidence we can’t actually say who came with the name first since both started in 2014. In my opinion most weren’t aware of Bitbay.net existed in 2014 not even me during ico on bter.

#6

Hello, I should have edited rather than delete my post entirely. I have since reversed my position based on a response I received in the bitcointalk forum.

---->Reply from bitcoin talk
"Both projects came at the same time actually by coincidence. There is no confusion, they are a centralized exchange and we are a coin with hundreds of use cases and features. Centralized exchanges won’t last long anyways. Even if there was we had an international presence long before they did (they started out as a Polish exchange and grew from there)."

Good. Your answer that you had an international presence long before the other “bitbay” means you were first to market and sums up the strength of your position. This fact also removes most if not all of my hesitation to invest. So long as your primary market, logo, branding etc continues it’s direction, eBay should also be of no concern.

Your project has tremendous potential and I expect big things in the future.

—> End Reply from bitcoin talk

I hope that this makes it clear that I now support the Bitbay project.

#7

@CryptoRays
I took the liberty of reversing you deleted post as it shows a valid concern that maybe others have and the discussion below seems out of place without it.

Please feel free to erase again or I can erase it for you if you do want that.

One of the reasons we moved to the forum (from slack) was transparency and keeping discussions for new comers to see and maybe build upon. This also shows that we are open to all suggestions and we actually welcome community involvement and suggestions.

Hope to have more constructive critisism from you or anyone else.

#8

Thanks, I’ll leave it up to you. I mainly wanted to convey that I support this project. Hopefully I did that.

#9

@CryptoRays
Yes it is clear that you were only asking out of pure concern and we understand that you probably now are a supporter. Maybe I should have mentioned it on previous post … anyway your are welcome to the community feel free to give us more feedback.