BitShares Forum
Main => General Discussion => Topic started by: bytemaster on March 19, 2014, 01:32:05 am
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It just occurred to me that we have been changing the paradigm from currency to equity and yet we have retained the currency code naming system. Considering the vast numbers of DACs that will be hitting the market soon, having 4 characters gives us 26 times more symbols to use to identify them.
Debate...
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I think that would be an interesting way to differenciate from the concurrence and hammering the paradigm shift, plus that make logical sense.
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It just occurred to me that we have been changing the paradigm from currency to equity and yet we have retained the currency code naming system. Considering the vast numbers of DACs that will be hitting the market soon, having 4 characters gives us 26 times more symbols to use to identify them.
Debate...
Briiliant idea. I endorse this. These are shares not currencies.
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Could you give examples of what they would be for, say, gold, US dollar and Chinese Yuan? I think that they would have low recognition value.
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They could stay USD, just use more chars for new things.
We will definitely need hierarchial asset names, I promise. XT:USD.
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I think that would be an interesting way to differenciate from the concurrence and hammering the paradigm shift, plus that make logical sense.
+5%
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Like this. So BitUD can be XUSD, BitGld XGLD etc.
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We will definitely need hierarchial asset names, I promise. XT:USD.
I like this.
We have to consider that Bitshares products are all going to show up in crypto-currency lists and on centralized exchanges, and having some kind of prefix for all of them will tremendously help brand identity. So on something like Cryptsy, there should be a whole range of products whose codes all start with something like "BTS."
So XT:USD is good, but I think it should also be tied somehow to the rest of the Bitshares brand. Ideally, someone glancing at it should know that BitUSD is a distant cousin of BitShares DNS.
This gets out of hand pretty quick: BTS:XT:USD?? that's messy and doesn't seem terse enough.
Do people agree that it would be helpful for all Bitshares products to be quickly and conveniently identifiable as such?
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Like this. So BitUD can be XUSD, BitGld XGLD etc.
I think all BitShares products (BitShares DNS, BitShares X, BitAssets) should have codes that appear near each other in alphabetized lists.
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I agree. Go for it. I like the idea of using the colon for a hierarchical designation (e.g. XT: USD), since there will be entire families of these. And actually, there are some crypto-currencies that have used four-letter abbreviations. On Coin Market Cap, for instance, you will see DOGE, TIPS, and MINT with four-letter designations.
http://coinmarketcap.com/
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We will definitely need hierarchial asset names, I promise. XT:USD.
I like this.
We have to consider that Bitshares products are all going to show up in crypto-currency lists and on centralized exchanges, and having some kind of prefix for all of them will tremendously help brand identity. So on something like Cryptsy, there should be a whole range of products whose codes all start with something like "BTS."
So XT:USD is good, but I think it should also be tied somehow to the rest of the Bitshares brand. Ideally, someone glancing at it should know that BitUSD is a distant cousin of BitShares DNS.
This gets out of hand pretty quick: BTS:XT:USD?? that's messy and doesn't seem terse enough.
A lot of great points being made. Here's my suggestion:
BTSX
BTSX:USD
BTSX:RMB
BTSX:EUR
BTSX:RUR
BTSX:GLD
BTSX:SLV
BTSX:OIL
This structure allows for hierarchical designation while still maintaining brand identity (which is very important). It also may help explain BTSX since "BTSX:USD" insinuates a ratio of BTSX-to-USD which is precisely what's being measured.. and since BTSX is highest in the hierarchy, no "BTSX:BTSX" would be needed. Extensions of each could also be made using a period such as "BTSX.T" or "BTSX:USD.I".
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Good for BitAAPL and other stock tickers
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Bytemaster, coming around to my ideas. :)
Below:
https://bitsharestalk.org/index.php?topic=1696.msg20703#msg20703
I didn't change the topic, but 32 was the spec from the white paper. Upon further review I think having fewer per chain is better.
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Bytemaster, do you plan to have a Bitasset character limit? Such as 4 character maximum after the word bit. eg. BitUSD, BitAAPL. I feel like limiting to 4 characters will allow for more standardization, reflecting public markets more closely.
We can see how it can get crazy with BitGoogle, BitGOOG, BitTwitter, BitTWTR, BitGold, BitGLD, BitAU (from the periodic table), BIT(insert the word gold here from other languages). The permutations would be limitless and redundant. .
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This thread was not about about discussion of the BitAssets on a chain (those are all internal...) these would be about shares in the chain itself.
BXTS:USD
BXTS:GLD
BSME:0abc -> hex ID of the individual share on the BitShares ME network.