BitShares Forum
Main => General Discussion => Topic started by: Method-X on September 02, 2014, 05:39:15 pm
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What would the effect of calling BitAssets simply "USD", "GLD", "CNY" be? The peg seems to be as much a psychological phenomenon as it is market mechanics... so why not drop "Bit" altogether?
I would argue the "Bit" in front of USD is a constant reminder that the two are somehow different. Remove this reminder and I predict the peg will track closer to the real USD.
Thoughts?
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From previous discussions it was agreed by most that the bit on bitUSD may help keep regulators at bay a little longer. Of course once the market cap gets into the billions they'll invent ways/reasons that it needs to be regulated anyway.
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What would the effect of calling BitAssets simply "USD", "GLD", "CNY" be? The peg seems to be as much a psychological phenomenon as it is market mechanics... so why not drop "Bit" altogether?
I would argue the "Bit" in front of USD is a constant reminder that the two are somehow different. Remove this reminder and I predict the peg will track closer to the real USD.
Thoughts?
Very very interesting.
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Best to leave it alone.
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I have been thinking about something similar and related to this a lot recently.
I've been wondering if adopting the term "bits" in place of BTSX or the previous suggestion "bips", which does not seem to have gained any traction.
I think it would go a long way to helping users understand bitassets relation to BTSX, and would make the naming of bitUSD, bitGLD, bitCNY, etc. seem more obvious.
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Best to leave it alone.
I agree MMM. *edited post* took out a bs comment.
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What would the effect of calling BitAssets simply "USD", "GLD", "CNY" be? The peg seems to be as much a psychological phenomenon as it is market mechanics... so why not drop "Bit" altogether?
I would argue the "Bit" in front of USD is a constant reminder that the two are somehow different. Remove this reminder and I predict the peg will track closer to the real USD.
Thoughts?
It's something to try once everything is established. I think in the future it might be possible to remove the "Bit" from all BitAssets. Right now it's too soon to do that I think.
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I have been thinking about something similar and related to this a lot recently.
I've been wondering if adopting the term "bits" in place of BTSX or the previous suggestion "bips", which does not seem to have gained any traction.
I think it would go a long way to helping users understand bitassets relation to BTSX, and would make the naming of bitUSD, bitGLD, bitCNY, etc. seem more obvious.
Adopting bips would be very unfortunate, as bips, or bps, is another word for basis point, 1/100 of 1%. Used very frequently in all sorts of investments and trading environments.
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I have been thinking about something similar and related to this a lot recently.
I've been wondering if adopting the term "bits" in place of BTSX or the previous suggestion "bips", which does not seem to have gained any traction.
I think it would go a long way to helping users understand bitassets relation to BTSX, and would make the naming of bitUSD, bitGLD, bitCNY, etc. seem more obvious.
Adopting bips would be very unfortunate, as bips, or bps, is another word for basis point, 1/100 of 1%. Used very frequently in all sorts of investments and trading environments.
And USD, everyone assumes is USD. How would you say BitUSD/USD=1, if there was no Bit?
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I have been thinking about something similar and related to this a lot recently.
I've been wondering if adopting the term "bits" in place of BTSX or the previous suggestion "bips", which does not seem to have gained any traction.
I think it would go a long way to helping users understand bitassets relation to BTSX, and would make the naming of bitUSD, bitGLD, bitCNY, etc. seem more obvious.
Adopting bips would be very unfortunate, as bips, or bps, is another word for basis point, 1/100 of 1%. Used very frequently in all sorts of investments and trading environments.
And USD, everyone assumes is USD. How would you say BitUSD/USD=1, if there was no Bit?
Internally it can be referred to as bitUSD, externally it can simply be thought of as USD.