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Main => General Discussion => Topic started by: hughmanwho on September 05, 2014, 03:04:53 pm

Title: BitUSD vs CoinoUSD
Post by: hughmanwho on September 05, 2014, 03:04:53 pm
I'm assuming you guys know with BitUSD, basically people short BTSX to create BitUSD out of thin air, and other can buy or sell them.  Problem is it's fluctuated from anywhere between $0.71 and $0.999 (or $2 upon opening).  It has some potential as a prediction market.. but those are swings of 30%, it's certainly not stable enough for a merchant to decide to store his money in that form.  And personally, I'd be afraid of a bank run.

CoinoUSD is an assset, run on the Nxt asset exchange that is backed by actual dollars.  At any point in time, you can take a CoinoUSD asset and send it to your CoinoUSD account, which will allow you to cash out and end up with an actual dollar bill sitting in your bank account.  Because they hold on to USD to back CoinoUSD, no worry of a bank run.  Problem of course is that it's centralized.
More details: https://coinomat.com/coinousd.php

So, question is what do you guys think about BitUSD vs CoinoUSD?
Title: Re: BitUSD vs CoinoUSD
Post by: bytemaster on September 05, 2014, 03:09:09 pm
I'm assuming you guys know with BitUSD, basically people short BTSX to create BitUSD out of thin air, and other can buy or sell them.  Problem is it's fluctuated from anywhere between $0.71 and $0.999 (or $2 upon opening).  It has some potential as a prediction market.. but those are swings of 30%, it's certainly not stable enough for a merchant to decide to store his money in that form.  And personally, I'd be afraid of a bank run.

CoinoUSD is an assset, run on the Nxt asset exchange that is backed by actual dollars.  At any point in time, you can take a CoinoUSD asset and send it to your CoinoUSD account, which will allow you to cash out and end up with an actual dollar bill sitting in your bank account.  Because they hold on to USD to back CoinoUSD, no worry of a bank run.  Problem of course is that it's centralized.

So, question is what do you guys think about BitUSD vs CoinoUSD?

I would love to see CoinoUSD issued as a user issued asset on BTSX and trade against BitUSD :)

Personally with CoinoUSD I would be afraid of a bankrun + government shutdown, etc.    BitUSD has different risks and the market will eventually price them accordingly.

Here is the interesting thing... the risk for BitUSD is only the "spread" and over time that will narrow.   The "volatility" you state was at launch and prior to restrictions on shorting being introduced.  Give it time to mature before you judge it.
Title: Re: BitUSD vs CoinoUSD
Post by: tonyk on September 05, 2014, 03:11:02 pm
I'm assuming you guys know with BitUSD, basically people short BTSX to create BitUSD out of thin air, and other can buy or sell them.  Problem is it's fluctuated from anywhere between $0.71 and $0.999 (or $2 upon opening).  It has some potential as a prediction market.. but those are swings of 30%, it's certainly not stable enough for a merchant to decide to store his money in that form.  And personally, I'd be afraid of a bank run.

CoinoUSD is an assset, run on the Nxt asset exchange that is backed by actual dollars.  At any point in time, you can take a CoinoUSD asset and send it to your CoinoUSD account, which will allow you to cash out and end up with an actual dollar bill sitting in your bank account.  Because they hold on to USD to back CoinoUSD, no worry of a bank run.  Problem of course is that it's centralized.

So, question is what do you guys think about BitUSD vs CoinoUSD?

IOU's gateways/assets are coming to BTSX soon (I hope) so...
Title: Re: BitUSD vs CoinoUSD
Post by: Gentso1 on September 05, 2014, 03:12:24 pm
couple questions
How are coinoUSD created?
Who holds this USD that coinoUSD is backed by?
You say you can take coinoUSD and cash out to bank account, how exactly do you do this?


Title: Re: BitUSD vs CoinoUSD
Post by: Empirical1.1 on September 05, 2014, 04:20:03 pm
Who holds this USD that coinoUSD is backed by?

That's what I want to know.

It's probably a centralised entity like Realcoin where you have to trust CoinoUSD won't do a runner and know that if .gov doesn't like it they can just seize their backing dollars/assets or target them through their banking partners.

CoinoUSD will probably be backed by centralised seizable collateral but BitUSD is backed by decentralised unseizable collateral.


Title: Re: BitUSD vs CoinoUSD
Post by: liondani on September 05, 2014, 04:30:58 pm
Problem of course is that it's centralized.

I guess no comments are needed..
Title: Re: BitUSD vs CoinoUSD
Post by: Gentso1 on September 05, 2014, 04:34:37 pm
Who holds this USD that coinoUSD is backed by?

That's what I want to know.

It's probably a centralised entity like Realcoin where you have to trust CoinoUSD won't do a runner and know that if .gov doesn't like it they can just seize their backing dollars/assets or target them through their banking partners.

CoinoUSD will probably be backed by centralised seizable collateral but BitUSD is backed by decentralised unseizable collateral.
and thats what I am also thinking. The biggest problem I have with nxt is that their asset's are backed by trust. All the assets I found on the exchange were based either on the reputation of a board member or trusting a business of some kind that was just created with no history.

Are assets are backed by btsx. Now btsx has a real world value and we don't have to trust anyone. It's also important to note that the more the platform is used the more daily burning occur's and the more the value of btsx will rise(through utility). It's like it own little self feeding ecosystem. The more you use it the more value btsx has and the more value btsx has the stronger the backing of the asset's that are created.
Title: Re: BitUSD vs CoinoUSD
Post by: Empirical1.1 on September 05, 2014, 04:45:38 pm
Who holds this USD that coinoUSD is backed by?

That's what I want to know.

It's probably a centralised entity like Realcoin where you have to trust CoinoUSD won't do a runner and know that if .gov doesn't like it they can just seize their backing dollars/assets or target them through their banking partners.

CoinoUSD will probably be backed by centralised seizable collateral but BitUSD is backed by decentralised unseizable collateral.
and thats what I am also thinking. The biggest problem I have with nxt is that their asset's are backed by trust. All the assets I found on the exchange were based either on the reputation of a board member or trusting a business of some kind that was just created with no history.

Are assets are backed by btsx. Now btsx has a real world value and we don't have to trust anyone. It's also important to note that the more the platform is used the more daily burning occur's and the more the value of btsx will rise(through utility). It's like it own little self feeding ecosystem. The more you use it the more value btsx has and the more value btsx has the stronger the backing of the asset's that are created.

Yeah BTSX assets are backed by a lot of BTSX, plus insurance fund, plus we can do small dilution in emergency (probably never needed) Basically at it's core Bytemaster has solved a big problem in a decentralised way. BTSX > Bitcoin imo easy.

CoinoUSD/Realcoin/User issued (Trust required) assets have a market but nothing like BitAssets.

Problem of course is that it's centralized.

I guess no comments are needed..

Yip, pretty much imo.
Title: Re: BitUSD vs CoinoUSD
Post by: Method-X on September 05, 2014, 05:29:20 pm
http://en.wikipedia.org/wiki/Liberty_Dollar
Title: Re: BitUSD vs CoinoUSD
Post by: hughmanwho on September 05, 2014, 05:34:14 pm
I would love to see CoinoUSD issued as a user issued asset on BTSX and trade against BitUSD :)

Personally with CoinoUSD I would be afraid of a bankrun + government shutdown, etc.    BitUSD has different risks and the market will eventually price them accordingly.

Here is the interesting thing... the risk for BitUSD is only the "spread" and over time that will narrow.   The "volatility" you state was at launch and prior to restrictions on shorting being introduced.  Give it time to mature before you judge it.

Either that.. or BTSX is in a little bit of a bubble at the moment, volume will drop as speculators get bored and move to the next coin, and the spread will increase and it'll fall apart.  Couple other potential risks.

What shorting restrictions were removed?

We'll see.. would be really cool to have decentralized fiat in crypto.  I just happen to be very skeptical.

I don't see any reason that CoinoUSD should have problems with this asset, it's not like they are offering unlicensed stock.  If buying/selling BTC is legal, no reason CoinoUSD shouldn't be.  All Coinomat is saying is that they are willing to buy your CoinoUSD from you for $1 and sell it to you for $1.  I definitely think this will be more stable than BitUSD.

couple questions
How are coinoUSD created?
Who holds this USD that coinoUSD is backed by?
You say you can take coinoUSD and cash out to bank account, how exactly do you do this?


Run by coinomat.com
You give them USD, via bank transfer, and they give you CoinoUSD in return.
If you want to cash out, you give them back your CoinUSD, and they give you $1 per 1 CoinoUSD asset.

More details: https://coinomat.com/coinousd.php
Title: Re: BitUSD vs CoinoUSD
Post by: xeroc on September 05, 2014, 05:52:09 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)
Title: Re: BitUSD vs CoinoUSD
Post by: hughmanwho on September 05, 2014, 05:59:17 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.
Title: Re: BitUSD vs CoinoUSD
Post by: gamey on September 05, 2014, 06:06:27 pm
I would love to see CoinoUSD issued as a user issued asset on BTSX and trade against BitUSD :)

Personally with CoinoUSD I would be afraid of a bankrun + government shutdown, etc.    BitUSD has different risks and the market will eventually price them accordingly.

Here is the interesting thing... the risk for BitUSD is only the "spread" and over time that will narrow.   The "volatility" you state was at launch and prior to restrictions on shorting being introduced.  Give it time to mature before you judge it.

Either that.. or BTSX is in a little bit of a bubble at the moment, volume will drop as speculators get bored and move to the next coin, and the spread will increase and it'll fall apart.  Couple other potential risks.

What shorting restrictions were removed?

We'll see.. would be really cool to have decentralized fiat in crypto.  I just happen to be very skeptical.

I don't see any reason that CoinoUSD should have problems with this asset, it's not like they are offering unlicensed stock.  If buying/selling BTC is legal, no reason CoinoUSD shouldn't be.  All Coinomat is saying is that they are willing to buy your CoinoUSD from you for $1 and sell it to you for $1.  I definitely think this will be more stable than BitUSD.

couple questions
How are coinoUSD created?
Who holds this USD that coinoUSD is backed by?
You say you can take coinoUSD and cash out to bank account, how exactly do you do this?


Run by coinomat.com
You give them USD, via bank transfer, and they give you CoinoUSD in return.
If you want to cash out, you give them back your CoinUSD, and they give you $1 per 1 CoinoUSD asset.

More details: https://coinomat.com/coinousd.php

All is good until funds are frozen/stolen or access to banking system is cut off for processors.  It has happened and will continue to happen when someone uses government as a tool to oppress others.  BTSX avoids that.

CoinoUSD has different risks.

Title: Re: BitUSD vs CoinoUSD
Post by: Riverhead on September 05, 2014, 06:08:14 pm
You're forgetting the only way to create bitUSD is by putting up twice its worth in BTSX and the only way to get BTSX is to buy it with BTC (which has already proven to have real value by the market). So to say bitUSD is created out of thin air is a bit misleading. It's minted and loaned by the exchange and destroyed when returned.
Title: Re: BitUSD vs CoinoUSD
Post by: oco101 on September 05, 2014, 06:10:22 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.

bitUSD is is backed by USD, see that the thing that you don't get. As long Btsx has value bitUSD is backed by USD without any centralization whatsoever. What you are saying there is a danger that BTSX has no more value then your bitUSD it is not backed anymore. Sure it could happen but btsx it is not just a coin it is a business behind it and that's the value. Now all the altcoins out there,  with a few exception, they are just ... well coins.
Title: Re: BitUSD vs CoinoUSD
Post by: Shentist on September 05, 2014, 06:10:43 pm
and that is the different about BTSX and NXT community.

BTSX community don't believe in this "backed" way, because anytime someone can fraud you.

NXT community don't believe in our bit"backed" way, because you see nothing of "value" backing our bitAssets. In my opinion our view is right, but not the view to our bitAssets, because we have collateral as the backing value.

BTSX as a network with features has value, and as more and more people will adapte it, it will grow and will hold more value. so why do you think bitAssets are without value when the value comes from the features BTSX provides?
Title: Re: BitUSD vs CoinoUSD
Post by: Gentso1 on September 05, 2014, 06:10:59 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.
No one is claiming bitUSD is backed by USD. It is backed by btsx.
Your point is the risk of centralization is low mine is that its not low at all. Funds can be ran off with or seized for a 100 different reasons. You put your faith in a centralized solution, We put ours in btsx.......time will tell who is correct.

 
Title: Re: BitUSD vs CoinoUSD
Post by: oco101 on September 05, 2014, 06:16:29 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.
No one is claiming bitUSD is backed by USD. It is backed by btsx.


To get  BTSX you put USD, the value of all the BTSX out there right now it is 63 millions USD so bitUSD it is backed by USD.
Title: Re: BitUSD vs CoinoUSD
Post by: gamey on September 05, 2014, 06:16:46 pm
A system where you exchange tokens for cash is not interesting.  It is the same basic thing that has been done in countless places elsewhere but now on a blockchain.

The problem with these services is if someone in a shady business comes along and starts utilizing coinoUSD then the whole thing gets shut down with a lot of collateral damage because some douchebag has political aspirations or is being paid off.
Title: Re: BitUSD vs CoinoUSD
Post by: Riverhead on September 05, 2014, 06:28:07 pm
This is a great thread. The points that the OP is raising we're going to hear over and over before people will put their money in. We may as well figure out the best way to address them :).


We've been getting our heads around this concept for nearly a year. It is understandable that people will be skeptical at first.
Title: Re: BitUSD vs CoinoUSD
Post by: Empirical1.1 on September 05, 2014, 07:33:24 pm
You give them USD, via bank transfer, and they give you CoinoUSD in return.
If you want to cash out, you give them back your CoinUSD, and they give you $1 per 1 CoinoUSD asset.

More details: https://coinomat.com/coinousd.php

1. What are the odds that CoinoUSD is going to cash out for someone deemed to be conducting an illegal activity or be linked/used for large 'illegal' transactions?
2. What are the odds CoinoUSD is targeted as a result?

Lets say conservatively, the answer to (1) is 40% and the answer to (2) is 25% it still means 10% of the time the assets/dollars backing CoinoUSD will be seized/freezed in which case a CoinoUSD is only worth $0.9 without interest that's being generous and assuming you 'trust' the issuer of CoinoUSD.

BitUSD isn't perfect but it's value is a lot higher than that.
Title: Re: BitUSD vs CoinoUSD
Post by: Gentso1 on September 05, 2014, 07:40:54 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.
No one is claiming bitUSD is backed by USD. It is backed by btsx.


To get  BTSX you put USD, the value of all the BTSX out there right now it is 63 millions USD so bitUSD it is backed by USD.
You don't take into account the value  of the platform and it's utility. I buy silver with USD but is it backed by it, well kinda sorta not really. Silver has a standalone value on it's on, jewelry,manufacturing  etc. Purchasing one item with another is a backing of sort but it is also the utility of the item itself that gives value.
btsx has $ value and it utility value, of being a share of a useful platform.In the end game its value should be drawn for the second half of that statement and not the first.
Title: Re: BitUSD vs CoinoUSD
Post by: Method-X on September 05, 2014, 08:35:45 pm
Unless tgey run with you dollars and leave you behind with coinos and no buyers ;)

It is indeed a risk of centralization.  But odds of that happening are low.

And if it happens we can always start up a fakeUSD asset that we claim is worth a dollar even though it's not backed up anything and use it to refund the customers their money. Maybe we can bring future fakeUSD assets into creation by shorting... ;)

Seriously I hope BitUSD is successful, I just don't see it though.  Maybe if you hide the details from people so they think that BitUSD actually is backed by USD..

Also, they are in the process of getting some kind of financial license in the UK to make sure everything is legal.

This seems very much like the attempts that preceded bitcoin. They all failed because they were centralized, hence bitcoin was born. If anything, this concept is a step backwards.
Title: Re: BitUSD vs CoinoUSD
Post by: Riverhead on September 05, 2014, 09:40:37 pm
Who would of guessed Mt. Gox was a house of cards until it collapsed. I think people are still waiting to see if they'll get anything back.
Title: Re: BitUSD vs CoinoUSD
Post by: hughmanwho on September 05, 2014, 09:48:07 pm
Agreed decentralized version beats centralized version.  And I am very skeptical, I wouldn't touch for a long time to come but I really do hope it works, then nxt can take the idea, tweak it and make it our own ;)

As I understand though, when shorting, you take twice the amount that you are paying for the asset and put up some collateral, right?

So what happens if it the price falls to the point where you don't have the assets to cover the loss?  Is is automatically revoked?

Let's say that the price of BTSX halves, does that mean that all those BitUSD suddenly disappear?  I'm probably misunderstanding how shorting works.
Title: Re: BitUSD vs CoinoUSD
Post by: jsidhu on September 05, 2014, 11:34:08 pm
Agreed decentralized version beats centralized version.  And I am very skeptical, I wouldn't touch for a long time to come but I really do hope it works, then nxt can take the idea, tweak it and make it our own ;)

As I understand though, when shorting, you take twice the amount that you are paying for the asset and put up some collateral, right?

So what happens if it the price falls to the point where you don't have the assets to cover the loss?  Is is automatically revoked?

Let's say that the price of BTSX halves, does that mean that all those BitUSD suddenly disappear?  I'm probably misunderstanding how shorting works.
I'm just learning it just like you but from my understanding the collateral doesn't need to be 2x its just 200% to use as a buffer for fees etc where as 100% would be a perfect cover order... in reality anywhere from 115-125% should do the trick in the future when it becomes more liquid...

As a trader, when you go long bitUSD you are basically hedging against a speculation that btsx will not rise, in that you will be able to transfer bitUSD back to btsx but recover a bigger stake in btsx later on once it is lower, purchasing power rises with USD. The short bitUSD is hoping for a rise in btsx such that the value of USD will fall versus btsx, purchasing power rises with BTSX, and the person who goes short bitUSD will be able to close the position and recover more btsx than he/she started with. Essentially it becomes an ecosystem where you don't need to sell your btsx back to btc but you simply hedge/unhedge your position if you are a speculator and you can "sell" for bitUSD if you need to pay a vendor or whatenot in USD once the bitUSD -> USD bridge is set up. I don't see any margin on the trades so I don't think you are force to cover because of a situation with price, until price doubles/halves. Your collateral should be used to offset gains/losses as the order is closed out. I'm not sure what happens when your collateral is not enough to cover the contract (margin call)... I think it auto closes your contract and you have to reenter the market?

The "ecosystem" needs players to accept the "long" and "short" contracts for bitUSD -> btsx and btsx -> bitUSD so that as swings happen people can get in and get out without major spread issues. Once the bugs are ironed out of the wallet code/toolkit API then we should see it in action and I hope we can get bitUSD<->USD happening fairly easily as that will the bring the ability to enter into a DAC without going thru the hoops of acquiring bitcoins. Ofcourse out of 1000 people only a small % of people get into bitcoin because of the amount of work it involves to be able to buy it.. although its becoming easier with ATM's and localbitcoin etc however a conversion from USD to bitUSD once we have enough volume would pretty much trump any of those options as a viable way to get into the crypto game and directly into our "ecosystem" :)

As far as comparing a central system with a decentralized system i think the later wins almost every time (except as a system starts out and there isn't enough volume, where a market maker would have been able to cover orders in a central system).. however the potential for a decentralized system is far higher than a central system because that is where we are headed with blockchain technology and what it was designed for. The other competitor "counterparty" and all of its derivatives (viacoin) tries to add services onto the blockchain which Satoshi openly came out and said that its a bad idea... not going to go into that one.

Speaking of which, where is the protocol spec on btsx? drltc still going ahead with it?
Title: Re: BitUSD vs CoinoUSD
Post by: eagleeye on September 06, 2014, 09:37:49 am
If NXT CoinoUSD is gaining value, is it because there User Interfaces are easier to use, or are they in the bubble as its new.  We had over like $1 - $3 million in volume when it was released, they are only getting $160k.
Title: Re: BitUSD vs CoinoUSD
Post by: Markus on September 06, 2014, 10:48:22 am
How is this CoinoUSD different to a Ripple IOU?
Title: Re: BitUSD vs CoinoUSD
Post by: santaclause102 on September 06, 2014, 11:32:41 am
How is this CoinoUSD different to a Ripple IOU?
Ripple would be equal to NXT, both provide the infrastructure. Then a backer (Coino...) or a bank that acts as a gateway issues the USD IOU. I don't see a real difference except maybe that it might be easier for banks to plug into the ripple trading network (regarding interface and legal), which is my speculation though...
Title: Re: BitUSD vs CoinoUSD
Post by: Markus on September 06, 2014, 01:30:17 pm
How is this CoinoUSD different to a Ripple IOU?
Ripple would be equal to NXT, both provide the infrastructure. Then a backer (Coino...) or a bank that acts as a gateway issues the USD IOU. I don't see a real difference except maybe that it might be easier for banks to plug into the ripple trading network (regarding interface and legal), which is my speculation though...
So in Ripple both, the network and the IOU issuer are centralised.
In NXT the network is decentralised but the IOU issuer still centralised.
I wonder what the next step would be ....
Title: Re: BitUSD vs CoinoUSD
Post by: santaclause102 on September 06, 2014, 05:12:18 pm
How is this CoinoUSD different to a Ripple IOU?
Ripple would be equal to NXT, both provide the infrastructure. Then a backer (Coino...) or a bank that acts as a gateway issues the USD IOU. I don't see a real difference except maybe that it might be easier for banks to plug into the ripple trading network (regarding interface and legal), which is my speculation though...
So in Ripple both, the network and the IOU issuer are centralised.
In NXT the network is decentralised but the IOU issuer still centralised.
I wonder what the next step would be ....
I'd say yes.
Title: Re: BitUSD vs CoinoUSD
Post by: bigcat on September 07, 2014, 02:21:25 pm
They could be the next Liberty Reserve if the US thinks they are.
Title: Re: BitUSD vs CoinoUSD
Post by: hughmanwho on September 08, 2014, 04:35:49 pm
They could be the next Liberty Reserve if the US thinks they are.

Except they are run out of the UK :)
Title: Re: BitUSD vs CoinoUSD
Post by: donkeypong on September 08, 2014, 04:55:37 pm
Coino reminds me of eGold, which was shut down by the feds. It wasn't bad, but not that exciting either. It also had a far better name than Coino, which sounds like a joke.
Title: Re: BitUSD vs CoinoUSD
Post by: gamey on September 09, 2014, 12:51:38 am
Coino reminds me of eGold, which was shut down by the feds. It wasn't bad, but not that exciting either. It also had a far better name than Coino, which sounds like a joke.
Quote
Beavis: I am The Great Coino. I need TP for my Bunghole.
Title: Re: BitUSD vs CoinoUSD
Post by: Gentso1 on September 18, 2014, 08:26:27 pm
They could be the next Liberty Reserve if the US thinks they are.

Except they are run out of the UK :)

You think if the US asked their good friends in the UK to seize some money for them they wouldn't do it?