Author Topic: is this bitUSD?  (Read 5505 times)

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Offline luckybit

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It can be called USD in the interface. It's already documented as BitUSD in the source code.
It's obviously not real USD so it isn't going to have any legal problems.
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Offline cass

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think also we should call it bitUSD
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Offline Riverhead

This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

I'm more worried about using the letters USD from a legal standpoint.

Edit: As in I'm happy creating BitUSD is fine, I'm not so sure about creating 'USD'


I see your point. We don't want to be seen as "minting" green backs and getting in hot water with the CIA.

Offline Empirical1

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This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

I'm more worried about using the letters USD from a legal standpoint.

Edit: As in I'm happy creating BitUSD is fine, I'm not so sure about creating 'USD'
« Last Edit: August 20, 2014, 04:23:39 pm by Empirical1 »

Offline Riverhead

This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

Offline Empirical1

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Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I agree, it needs to say BitUSD with a link to in-depth explanation

I was expecting a 'Bit'/'b' included somehow as you're suggesting.

I do like sschechter's idea of at least a  symbol though to differentiate BitUSD from USD.




Offline sschechter

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Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I think bitAssets need a symbol to delineate them as such. ∫USD ΩUSD µUSD?
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Offline toast

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Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I agree, it needs to say BitUSD with a link to in-depth explanation
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Offline Empirical1

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Looks cool.

My concern is whether using the direct abbreviation USD is OK?


Offline xeroc

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Its the bitPTS .. market pegged to the real PTS ... PTS is still on a different chain

Offline tonyk

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It is. Just not active, the last time I checked.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

merockstar

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it's live?!

is this bitUSD or is this something else altogether?



also, I can buy PTS on that market, then send it to a seperate PTS wallet?

did the client just become a PTS wallet?


edit: realized that's probably bitPTS.
« Last Edit: August 20, 2014, 06:15:33 am by merockstar »