BitShares Forum
Other => OpenLedger => Graveyard => Openledger => Topic started by: jza on August 04, 2016, 02:16:18 am
-
This has probably been answered before but my search skills didnt really return anything that clear it up.
How can people validate the tokens, I see OpenLedger has tokens for Lisk, gold and other values, but I dont know how these tokens represent real altcoins on the other side (or fiat).
After the failure of Nubits where the organization didnt had the complete reserves to bakcup the NuShares to have the real liquidity of the Nubit token.
How would this situation be any different with a lisk token for example.
Regards
-
Unless @ccedk offers a proof of reserve, there is no way of knowing they actually have these reserves. I proposed to @ronny multiple times he should get this fixed together with blocktrades, but nothing has changed to my knowledge yet ..
If you want to own a token that is "pegged" to Dollar and doesn't require trust, you should buy bitUSD (or just USD) in BitShares/OpenLedger.
-
Unless @ccedk offers a proof of reserve, there is no way of knowing they actually have these reserves. I proposed to @ronny multiple times he should get this fixed together with blocktrades, but nothing has changed to my knowledge yet ..
If you want to own a token that is "pegged" to Dollar and doesn't require trust, you should buy bitUSD (or just USD) in BitShares/OpenLedger.
I think it is important to adress @dannotestein wih this aspect, as they blocktrades are the only ones able to provided the proof of reserves, and again it is also a question what exactly is needed to support the ide aof proof or reserves.
To tell everyone what adresses are used for cold is really not the way for security measures to be maximum, and anyone else telling the reserves without showing the adresses are not really showing the reserves in the first place, so only through an authroised auditor this is in fact really gonna work, and that part is a costly measure which should be added as we reach a level of transactions involving cryptocurrencies really making a diffrence, which it is not at the moment, and auditiing will not be the factor sending more users to OPenLedger, instead it will be the gradual ease of use making it into something anyone can use which will make the diffrence and alow the necessary auditing to be added as well.
Rgds
Ronny Boesing
CCEDK
-
https://steemit.com/bitshares/@xeroc/what-makes-the-bitusd-than-nubits