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Offline pendragon3

Re: Important Criticism
« Reply #75 on: August 16, 2015, 02:55:42 PM »
"Identabit" might be fine for the blockchain or a company, but it's not such an effective name for the currency units. That's why "Bitcoin" has been a pretty good name: it's relatively simple to spell and say out loud, and it works well in connection with sending, spending, or receiving units of value. "Ubits" would be at least as good for this purpose, imo...

Offline pendragon3

Re: Important Criticism
« Reply #76 on: August 16, 2015, 02:58:55 PM »
+5% for ubit
btw ubit.org is already taken

underwun, I think the name decision should be based on what is your target audience, if it's for instance financial institutions - Identabit would make a sense because the may care about "identity" and have a value proposition in the name can be a good thing, but if you are going to promote it to more mass market Identabit name wouldn't contain any value proposition for them and having more simple name like ubit or idex can have more benefits. If you are going to target Bitcoin users and crypto enthusiasts, having identity in it's name can even do some harm.
Also more general name you use, the easier it would be to pivot and target different markets.
Take a look at Dash - they were able to double their market cap with rebranding.
More good names examples (in my opinion): Ripple, Stellar, Ethereum, Graphene (btw I suggested to call new version Graphene and I think the name works great so far, I was even advocating to rebrand Bitshares into Graphene completely).

"graphene" is a winner, imo.

Is ubit.org already taken? I thought it was still available for purchase (at BuyDomains.com).


« Last Edit: August 16, 2015, 03:02:56 PM by pendragon3 »

Offline BunkerChain Labs

Re: Important Criticism
« Reply #77 on: August 16, 2015, 03:01:20 PM »
Identabit is just fine (just drop the capital D).

I don't get this trend that companies or products has to be named with commonly used words like "circle" or "square" or "unique". Never tried to google a word like that? There will be many pages of results until the company site will be found.

Also it would be nice if the name is easily pronounceable for both english and non-english speakers. No weird phones/sounds. If somebody says the name, you should be able to know or easily guess how that it is written. "Younique" is a bad example, because if you say it, you need to explain every time that "it's like unique but with yo in front of it" and people will be like "WTF?".

"Bitcoin" is pretty good name. Simple but no other existing meanings. Easy to pronounce and write, although it has letter c which is retarded (it can be pronounced like k or s – how drunk somebody has been when he has invented that letter?).

Blame Apple for the trend :)

If they go with Unique though we will be competing with a cross dressing super diva. That could be a challenge:

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www.Peerplays.com | World's First Decentralized Tournament Platform Built Entirely on the Blockchain!
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Offline triox

Re: Important Criticism
« Reply #78 on: August 16, 2015, 04:17:58 PM »
You guys are overthinking it. This isn't a consumer-facing product. It will succeed or fail based on business relations and partnerships, not branding.

Offline donkeypong

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Re: Important Criticism
« Reply #79 on: August 16, 2015, 04:26:10 PM »
You guys are overthinking it. This isn't a consumer-facing product. It will succeed or fail based on business relations and partnerships, not branding.

I think you're right. Reading Underwun's posts closely, you will see that IDB is a layer. Upon that layer will be built other businesses, such as the remittance service he initially told us about (I'm very excited for that one). So if IDB is more of a back-end product, then a consumer-focused brand name is not as important.

Separately, in principle, I'm sick of all the 'bit' names. Enough with the 'bit' shit. It doesn't need to be in every name.

« Last Edit: August 16, 2015, 04:28:04 PM by donkeypong »

jakub

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Re: Important Criticism
« Reply #80 on: August 16, 2015, 04:28:42 PM »
I propose a complete set:

ubit - for the currency
ubitex (or ubitum) - for the blockchain/ecosystem
remitex (or remitum) - for the remittance business

ubit.org is still free according to godaddy

jakub

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Re: Important Criticism
« Reply #81 on: August 16, 2015, 04:35:09 PM »
You guys are overthinking it. This isn't a consumer-facing product. It will succeed or fail based on business relations and partnerships, not branding.
I think you're right. Reading Underwun's posts closely, you will see that IDB is a layer. Upon that layer will be built other businesses, such as the remittance service he initially told us about (I'm very excited for that one). So if IDB is more of a back-end product, then a consumer-focused brand name is not as important.

I agree IDB is an appropriate name for a back-end product. But the branding brief clearly states that:
Quote
IDentabit is a retail name, like Starbucks, McDonalds and others, it is not intended to appeal to three piece suits or engineers. The name is focused on consumers young and old. A name consumers will remember.
So this is a consumer-facing product. It intends to compete with Bitcoin for mass adoption.
« Last Edit: August 16, 2015, 04:39:44 PM by jakub »

Offline tbone

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Re: Important Criticism
« Reply #82 on: August 17, 2015, 01:01:53 PM »
Quick parting thought.  The capital D is definitely a problem, but much less of a problem than the a.  The a is what really makes it look so much like "dental", especially since the stem of the "b" looks like the "l" in "dental".  If you replace the a with an i, then it actually looks like a root of the word "identity" instead of something dental related.  Good luck.


Offline pendragon3

Re: Important Criticism
« Reply #83 on: August 17, 2015, 02:00:05 PM »
I agree: the "a" in "Identabit" is part of the problem. "Identibit" is a MUCH better name, imo--much clearer, respectable, apropos, and less likely to make people think there was sloppy spelling.

John, out of curiosity, what would be the rationale for going with "Identabit" rather than "Identibit"? Is it because the "a" makes the name slightly closer to "Remitabit"? In my opinion, "Identibit" sounds quite close to "Remitabit" already, and it would fit in well to the naming scheme. Also, the .com, .net, .org are all available...

Offline tbone

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Re: Important Criticism
« Reply #84 on: August 17, 2015, 02:32:36 PM »
If Remitabit is the reason for the a in Identabit, then it all seems to be more about the "abit" then it is about the "bit".  That muddles things.  But if it's more about the "bit", then you don't need to worry about the a in Remitabit.  It might also help to capitalize the b to emphasize the "Bit".   You could do the same with "bank" and "pay". 

The scheme below has good continuity.  Although aren't Remitabit and IdentiPay kind of redundant?  Is Remitabit even necessary?

RemitaBit (or just nix this one)
IdentiBit
IdentiPay
IdentiBank



I agree: the "a" in "Identabit" is part of the problem. "Identibit" is a MUCH better name, imo--much clearer, respectable, apropos, and less likely to make people think there was sloppy spelling.

John, out of curiosity, what would be the rationale for going with "Identabit" rather than "Identibit"? Is it because the "a" makes the name slightly closer to "Remitabit"? In my opinion, "Identibit" sounds quite close to "Remitabit" already, and it would fit in well to the naming scheme. Also, the .com, .net, .org are all available...

Offline EstefanTT

Re: Important Criticism
« Reply #85 on: August 17, 2015, 04:07:42 PM »
I agree: the "a" in "Identabit" is part of the problem. "Identibit" is a MUCH better name, imo--much clearer, respectable, apropos, and less likely to make people think there was sloppy spelling.

John, out of curiosity, what would be the rationale for going with "Identabit" rather than "Identibit"? Is it because the "a" makes the name slightly closer to "Remitabit"? In my opinion, "Identibit" sounds quite close to "Remitabit" already, and it would fit in well to the naming scheme. Also, the .com, .net, .org are all available...

That's IMHO much better and you keep the name very close to what it is now !   +5% +5%
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Offline pendragon3

Re: Important Criticism
« Reply #86 on: August 17, 2015, 04:28:06 PM »
"Remitabit" is actually a clever and catchy name because it can be seen as a play on "Remit a bit", suggesting cost-effective remittance of small amounts. So, it's understandable why John might place high value on this particular name for a project to be developed in the future.

The important point, though, is that the "a" in "Identabit" doesn't serve the same function. In other words, it doesn't buy you much at all if used instead of "i" in "Identibit". In fact, the "a" seems to be a significant liability in "Identabit". I think just about everyone on this thread wants this project to be a smashing success, but a common concern voiced by many is that "Identabit" is a weak name that could needlessly undermine the brand image and hinder widespread adoption by consumers.

In my opinion, "Identibit" (1) looks slicker, more impressive, more intelligent (notice the 2nd "i" in "intelligent"), and more professional; (2) more powerfully evokes the concept of identity; (3) helps avoid distracting associations with dentures and mouthguards; and (4) and rhymes equally well with "Remitabit" when spoken aloud.

Here's to hoping that John comes around and realizes the drawbacks and weaknesses in "Identabit"...

jakub

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Re: Important Criticism
« Reply #87 on: August 17, 2015, 06:23:03 PM »
Bitcoiners may continue to rave about anonymity, but pigs will fly before we see institution's risk exposure to counterparty anonymity.

The same pigs will fly before we hear "you owe me 6 indentabits, mate" somewhere in the street.
No matter if it's identabit or identibit. This is just not gonna happen.

Even if you spend millions to promote it as identabit people will just reduce it to something much shorter.
You might as well go with the flow and give them the short version now.

In the brief you wrote that the aim was to have an "easy to remember retail name". So either the brief is wrong or the name is wrong.
I bet you a hundred identabits that if you took 100 random people and asked them which name - identabit or ubit - sounds more like an easy to remember currency unit, then identabit would not be the winner here.

Identabit conveys the right message and it's an acceptable name for a company but is just useless as a name to be used in shops & bars. You are introducing a new currency here, thus asking people to use it in everyday situations. The name does matter here as it's an integral part of the utility being offered. In this case one uses the product by pronouncing its name, so if the name is difficult to remember and pronounce then the product is difficult to use. It's not a car or a computer where the name is just part of the product's image, here the name is part of the product itself. It has to be easy.

If you take a look at the list of world currencies, most of them are one or two syllables, just a few are three but not a single one is more than that. People all over the world have been choosing short and simple names for their currencies. So there must be a very fundamental and universal reason for that. You plan on denying this reason by introducing the first ever four syllable currency name.

I know you've invested a lot of thinking in your naming strategy. And that's probably the reason you cannot let go of it.
I rest my case and wish you luck. And I truly hope I am wrong on this one and identabit eventually succeeds.
Maybe it is such a good concept that it will succeed despite this terrible name.
« Last Edit: August 18, 2015, 07:30:12 AM by jakub »

Offline pendragon3

Re: Important Criticism
« Reply #88 on: August 17, 2015, 07:35:38 PM »
Main takeaways:
  • It'd be very, very surprising if "Identabit" or "Identibit" could gain any traction at all as a name for currency units.
     
  • For the blockchain or a platform, "Identibit" with an "i" might be viable. "Identabit" with an "a" is much less "intellagent" and much weaker. It doesn't meet the bar, imo, for a blockchain/platform name.
     
  • For currency units, "ubit" or "ibit" would be fun, easy to use, and easy to popularize among consumers. "IDB" might have a use in connection with currency units, but it's insipid, unmemorable, and not the type of name that young and old alike would really enjoy using.
     
  • It's not necessary to have a .com, .net, .org domain name for the currency. A domain name matching the name of the underlying blockchain/platform would be enough.
     

Offline underwun

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Re: Important Criticism
« Reply #89 on: August 18, 2015, 07:36:37 AM »
Hi All

My mistake, I haven't referenced the name for the currency other that the IDB shortcode we use and I should have, my apologies.

We will use a name other than Identabit for the currency, ibit works and inabit was suggested.

We have killed the D and we own numerous URL's including identabit.org/info, identibit.com/org/info, identabits.com so misspelling isn't an issue.

Identity will remain part of the name as we need to bring attention to our purpose.

Thanks everyone there is a lot going on and giving the attention to the detail deserved is always a challenge.

I would like to concentrate on money, software and partnerships once the naming of the currency is behind us.

Jakub thank you for pulling my head out of my ass and PD3 thank you for your constructive approach, to everyone else a big thank you. Your effort helped me listen.





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