BitShares Forum
Main => General Discussion => Topic started by: mf-tzo on December 24, 2014, 01:04:05 pm
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http://www.coindesk.com/canadian-startup-bitgold-closes-3-5-million-series-funding-round/
A new competitor is coming out... It is unfortunate that not many still have any bitgold, bitbtc,bitoil from BTS...We are unfortunately start losing the race here imho..
We need people to realize the power of keeping the assets in a dentralised platform vs. all these centralized solution that keep popping out everyday before it is too late..
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Keep in mind they just completed a round of funding and isn't even set to release for 50 days https://www.bitgold.com/ (https://www.bitgold.com/)
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
The fact that their names compete with ours isn't really a big deal. Gold derivatives are still more volatile than USD and other national currencies, so there's no reason why they should become a means of payment in the short run. The people who actually use bitshares' bitGOLD will mainly be speculators and investors, and they might be more attracted to the product if we call it market pegged gold, since that clearly explains its value proposition.
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
The fact that their names compete with ours isn't really a big deal. Gold derivatives are still more volatile than USD and other national currencies, so there's no reason why they should become a means of payment in the short run. The people who actually use bitshares' bitGOLD will mainly be speculators and investors, and they might be more attracted to the product if we call it market pegged gold, since that clearly explains its value proposition.
Maybe they would make bitGOLD directly exchangeable for their bitgold, like btc38 accepting bitCNY as equivalent to CNY. It would reward them with purchases from BitShares users, and reward BitShares by having the bitGOLD backed by their bitgold.
bitreserve could do the same thing.
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
The fact that their names compete with ours isn't really a big deal. Gold derivatives are still more volatile than USD and other national currencies, so there's no reason why they should become a means of payment in the short run. The people who actually use bitshares' bitGOLD will mainly be speculators and investors, and they might be more attracted to the product if we call it market pegged gold, since that clearly explains its value proposition.
Maybe they would make bitGOLD directly exchangeable for their bitgold, like btc38 accepting bitCNY as equivalent to CNY. It would reward them with purchases from BitShares users, and reward BitShares by having the bitGOLD backed by their bitgold.
bitreserve could do the same thing.
Completely agree. I've sent them some tweets explaining this situation. Please feel free to join in: https://twitter.com/bitgoldinc/status/547532410204610560
BitShares bitGOLD is only going to strengthen their offerings by offering consumers reduced risk and increased control.
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
The fact that their names compete with ours isn't really a big deal. Gold derivatives are still more volatile than USD and other national currencies, so there's no reason why they should become a means of payment in the short run. The people who actually use bitshares' bitGOLD will mainly be speculators and investors, and they might be more attracted to the product if we call it market pegged gold, since that clearly explains its value proposition.
Maybe they would make bitGOLD directly exchangeable for their bitgold, like btc38 accepting bitCNY as equivalent to CNY. It would reward them with purchases from BitShares users, and reward BitShares by having the bitGOLD backed by their bitgold.
bitreserve could do the same thing.
Completely agree. I've sent them some tweets explaining this situation. Please feel free to join in: https://twitter.com/bitgoldinc/status/547532410204610560
BitShares bitGOLD is only going to strengthen their offerings by offering consumers reduced risk and increased control.
I don't think we should try to fight for the bitGOLD name in public at this point. Both bitreserve and now this company are trying to claim it, and our bitGOLD isn't established the same way as bitUSD and bitCNY is to the public. We should still use bitGOLD internally in the context where it is completely clear that we mean MPA-gold, but it just causes confusion trying to use it towards outsiders(because they assume it is an IOU). Calling it market pegged gold really clears up everything so much better.
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
Maybe they would make bitGOLD directly exchangeable for their bitgold, like btc38 accepting bitCNY as equivalent to CNY. It would reward them with purchases from BitShares users, and reward BitShares by having the bitGOLD backed by their bitgold.
bitreserve could do the same thing.
Now i like that idea. I think that could have legs.
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These kind of services are not competitors to BTS. They're gateways, and we could benefit greatly from them integrating with bitshares and issuing their IOUs on our blockchain.
The fact that their names compete with ours isn't really a big deal. Gold derivatives are still more volatile than USD and other national currencies, so there's no reason why they should become a means of payment in the short run. The people who actually use bitshares' bitGOLD will mainly be speculators and investors, and they might be more attracted to the product if we call it market pegged gold, since that clearly explains its value proposition.
Maybe they would make bitGOLD directly exchangeable for their bitgold, like btc38 accepting bitCNY as equivalent to CNY. It would reward them with purchases from BitShares users, and reward BitShares by having the bitGOLD backed by their bitgold.
bitreserve could do the same thing.
Completely agree. I've sent them some tweets explaining this situation. Please feel free to join in: https://twitter.com/bitgoldinc/status/547532410204610560
BitShares bitGOLD is only going to strengthen their offerings by offering consumers reduced risk and increased control.
I don't think we should try to fight for the bitGOLD name in public at this point. Both bitreserve and now this company are trying to claim it, and our bitGOLD isn't established the same way as bitUSD and bitCNY is to the public. We should still use bitGOLD internally in the context where it is completely clear that we mean MPA-gold, but it just causes confusion trying to use it towards outsiders(because they assume it is an IOU). Calling it market pegged gold really clears up everything so much better.
Not really. It's a problem. We can't advertise BitGold as we will end up sending people to BitGold.com or BitGold by BitReserve. If you talk about BitGold, are you talking about the centralised BitGold or a decentralised BitGold? Companies can't accept BitGold, now there has to be another element.
BitAssets were a sick brand to have got first and have a year to bootstrap ownership of. We'll probably have to change to BTSAssets and BTSGold if we want to be able to communicate our brand in a single word. Can't believe we lost that, it was killer.
Edit: The BitAsset graphics Cass has done just uses the 'b' this is good as it can stand for btsgold or bitgold & we can try work around becoming known by that logo vs. just a 'bit' or 'bts' in front of the gold.
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Not really. It's a problem. We can't advertise BitGold as we will end up sending people to BitGold.com or BitGold by BitReserve. If you talk about BitGold, are you talking about the centralised BitGold or a decentralised BitGold? Companies can't accept BitGold, now there has to be another element.
BitAssets were a sick brand to have got first and have a year to bootstrap ownership of. We'll probably have to change to BTSAssets and BTSGold if we want to be able to communicate our brand in a single word. Can't believe we lost that, it was killer.
Edit: The BitAsset graphics Cass has done just uses the 'b' this is good as it can stand for btsgold or bitgold & we can try work around becoming known by that logo vs. just a 'bit' or 'bts' in front of the gold.
They could just be referred to as Bitshares Assets.
This gives us Bitshares USD and Bitshares Gold, which shortened would be BTSUSD and BTSGold as Empirical suggested. I actually think this is much clearer than using the Bit- prefix. This convention can then be easily applied to future chains (think Bitshares Music).
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Not really. It's a problem. We can't advertise BitGold as we will end up sending people to BitGold.com or BitGold by BitReserve. If you talk about BitGold, are you talking about the centralised BitGold or a decentralised BitGold? Companies can't accept BitGold, now there has to be another element.
BitAssets were a sick brand to have got first and have a year to bootstrap ownership of. We'll probably have to change to BTSAssets and BTSGold if we want to be able to communicate our brand in a single word. Can't believe we lost that, it was killer.
Edit: The BitAsset graphics Cass has done just uses the 'b' this is good as it can stand for btsgold or bitgold & we can try work around becoming known by that logo vs. just a 'bit' or 'bts' in front of the gold.
They could just be referred to as Bitshares Assets.
This gives us Bitshares USD and Bitshares Gold, which shortened would be BTSUSD and BTSGold as you suggest. I actually think this is much clearer than using the Bit- prefix. This convention can then be easily applied to future chains (think Bitshares Music).
I actually like this a lot. We shouldn't abandond bitGOLD, bitUSD etc but we can always say "BTSUSD" to disambiguate.
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Did you see that "Notably, the man behind Soros Brothers Investments is Alexander Soros, the son of billionaire investor George Soros"
I tweeted StandStorm to say that they should make their phys exchangeable to our BitGold. See if we get a reply.
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anyone have a contact here? Twitter sucks at this sort of thing
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anyone have a contact here? Twitter sucks at this sort of thing
Yeah I'm his dad.
Edit: I wonder how much BitGold.com cost
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anyone have a contact here? Twitter sucks at this sort of thing
Yeah I'm his dad.
Edit: I wonder how much BitGold.com cost
Whos dad?
Im from bc you from ontario? Id like to give the guys a call to talk to them
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anyone have a contact here? Twitter sucks at this sort of thing
Yeah I'm his dad.
Edit: I wonder how much BitGold.com cost
Whos dad?
Im from bc you from ontario? Id like to give the guys a call to talk to them
I was kidding, his dad is George Soros :)
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no he isnt thats just a stakeholder...