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OpenLedger / Re: deposits in openledger
« on: March 05, 2016, 11:48:24 am »thank you for the replys, explained alot.
I have used lots of exchanges, and wish to invest in obits and openledger cause i believe in a self sustainable business, kindda my dream.
altho, bts caught my eye sight now as well
That said, after researching and reading alot,
the exchange is difficult to understand (ccedk has its own btc value - open.btc ? O_O)
does open.btc will always be valued same as "standard" btc?
how do smart coins such as gold , silver, any open.coin backed by real gold or real btc exactly?
and yes, u can rest assure that ppl from outside bts community, like myself, will hear about this, tnx to PR being done.
and if you really want to get some attention, make a btctalk ANN. it just seems sketchy without it and it takes time to find this section in bts forum!
also no coin specs nowhere.. took me a while to discredit this project as a scam due to all above.
tnx again,
OPEN.BTC is same as BTC, similar to any other centralized exchange, the only difference is that on OpenLedger you are clearly told that as long as you are trading on the platform, you are trading with an IOU.
It goes like this:
BTC deposit to OPEN.BTC in deposit section of CCEDK on OpenLedger
You are now able to trade on any markets already active, or create a market on your own(any market you wish for) with this asset called OPEN.BTC. On other centralized exchanges they call it BTC when you trade with it, while in fact it is an IOU, untill you decide to withdraw, then your btc is sent from a common cold wallet, well i some cases even from the hot, and you are back to having the real value in your own wallet.
On OpenLedger the only currencies you can say are backed with collateral, and this way as secure as the demand and supply indicates are the smartcoins like bitusd, biteur, bitcny, bitsilver etc as well as BTS itself. The rest are in fact worth the value the ISSUER says as long as you trust that issuer, it is an I owe you (IOU), and this issuer owes you on platform untill you ask it back again.
The beauty of the DEX also named BTS platform or in this case hosted on OpenLedger, it is that you are able personally to create whatever market you wish to focus on, then go out and tell the world that this pair is now active, and you can do this all on your own.
Withdraw to BTC to your wallet outside OpenLedger deducted BTC network fee, and you are back with BTC on your hands 1:1 same as any other centralized excahnge.
Deposit and withdraw like in this case with BTC is possible as well with the altcoins ETH, DASH, DOGE, PPC, LTC, EMC, NBT, NSR, BKS and in fact also with MUSE which is coming from its own wallet.
Regarding mentioning on bitcointalk, do you mean Openledger is not mentioend or are you talking OBITS, becasue all is mentioned there over and over again, but maybe not clearly stated.
You might have a point, that I need to emphazize a bit more on this on bticointalk.