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merockstar

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is this bitUSD?
« on: August 20, 2014, 06:10:30 AM »

it's live?!

is this bitUSD or is this something else altogether?



also, I can buy PTS on that market, then send it to a seperate PTS wallet?

did the client just become a PTS wallet?


edit: realized that's probably bitPTS.
« Last Edit: August 20, 2014, 06:15:33 AM by merockstar »

Offline tonyk

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Re: is this bitUSD?
« Reply #1 on: August 20, 2014, 06:17:24 AM »
It is. Just not active, the last time I checked.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: is this bitUSD?
« Reply #2 on: August 20, 2014, 06:37:38 AM »
Its the bitPTS .. market pegged to the real PTS ... PTS is still on a different chain
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Offline Empirical1

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Re: is this bitUSD?
« Reply #3 on: August 20, 2014, 03:39:32 PM »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?


Offline toast

Re: is this bitUSD?
« Reply #4 on: August 20, 2014, 03:41:38 PM »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I agree, it needs to say BitUSD with a link to in-depth explanation
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Offline sschechter

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Re: is this bitUSD?
« Reply #5 on: August 20, 2014, 03:43:40 PM »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I think bitAssets need a symbol to delineate them as such. ∫USD ΩUSD µUSD?
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Offline Empirical1

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Re: is this bitUSD?
« Reply #6 on: August 20, 2014, 04:11:43 PM »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I agree, it needs to say BitUSD with a link to in-depth explanation

I was expecting a 'Bit'/'b' included somehow as you're suggesting.

I do like sschechter's idea of at least a  symbol though to differentiate BitUSD from USD.




Offline Riverhead

Re: is this bitUSD?
« Reply #7 on: August 20, 2014, 04:14:49 PM »
This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

Offline Empirical1

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Re: is this bitUSD?
« Reply #8 on: August 20, 2014, 04:17:23 PM »
This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

I'm more worried about using the letters USD from a legal standpoint.

Edit: As in I'm happy creating BitUSD is fine, I'm not so sure about creating 'USD'
« Last Edit: August 20, 2014, 04:23:39 PM by Empirical1 »

Offline Riverhead

Re: is this bitUSD?
« Reply #9 on: August 20, 2014, 04:30:48 PM »
This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

I'm more worried about using the letters USD from a legal standpoint.

Edit: As in I'm happy creating BitUSD is fine, I'm not so sure about creating 'USD'


I see your point. We don't want to be seen as "minting" green backs and getting in hot water with the CIA.

Offline cass

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Re: is this bitUSD?
« Reply #10 on: August 20, 2014, 04:40:16 PM »
think also we should call it bitUSD
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Offline luckybit

Re: is this bitUSD?
« Reply #11 on: August 20, 2014, 05:02:45 PM »
It can be called USD in the interface. It's already documented as BitUSD in the source code.
It's obviously not real USD so it isn't going to have any legal problems.
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Offline Empirical1

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Re: is this bitUSD?
« Reply #12 on: August 20, 2014, 05:12:56 PM »
It's obviously not real USD so it isn't going to have any legal problems.

Yes it should be fine because BitUSD is very different.
However in this particular case I wasn't sure it was worth the short term risk of there being any confusion.

We've already seen how two small communities can politicise the word 'partnership' in a couple of days.

Offline donkeypong

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Re: is this bitUSD?
« Reply #13 on: August 20, 2014, 05:14:10 PM »

I see your point. We don't want to be seen as "minting" green backs and getting in hot water with the CIA.

The Treasury Department would take the most interest in this. But it's clearly a proxy -- play money -- and doesn't mention the word "dollar". Even if it did, there are other countries with their own dollars, not just the U.S. And in the U.S., I believe that "USD" is a trademark of the University of South Dakota. "BitUSD" clearly is neither an educational institution nor a U.S. government-issued currency. Keep the name, please.

Offline Gentso1

Re: is this bitUSD?
« Reply #14 on: August 20, 2014, 05:26:31 PM »
think also we should call it bitUSD

Agreed we need to make sure it is VERY crystal clear that this is bitUSD not USD.

 

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