Author Topic: Demand for BitUSD: What are the low hanging fruit?  (Read 5884 times)

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Offline fuzzy

All I can say is that I will personally give you a sensual Cam show over the net for 150USD, or 100bitUSD.  Hope this helps get things moving.
 8)
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Offline xeroc

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Offline Method-X

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bitGOLD is backed by BTSX. In all practical purposes it is identical to bitUSD (except the name and the feeds). If bitUSD has low liquidity why do you think bitGOLD would ?

Great point.

Unrelated side question: can the "market cap" of bitUSD be tracked? Perhaps bitUSD should be listed on coinmarketcap.com and presented as its own "alt coin". We should take the focus off the bitshares exchange and focus on marketing the product. I'm absolutely convinced once the crypto community understands bitUSD, they'll be all over it.

All bitUSD are backed by BTSX , so there is no separate market cap. It is included. Market cap of bitUSD is visible from the client (or bitsharesblocks.com).

So the "market cap" is 483,250 bitUSD.

Offline emski

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bitGOLD is backed by BTSX. In all practical purposes it is identical to bitUSD (except the name and the feeds). If bitUSD has low liquidity why do you think bitGOLD would ?

Great point.

Unrelated side question: can the "market cap" of bitUSD be tracked? Perhaps bitUSD should be listed on coinmarketcap.com and presented as its own "alt coin". We should take the focus off the bitshares exchange and focus on marketing the product. I'm absolutely convinced once the crypto community understands bitUSD, they'll be all over it.

All bitUSD are backed by BTSX , so there is no separate market cap. It is included. Market cap of bitUSD is visible from the client (or bitsharesblocks.com).

Offline Method-X

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bitGOLD is backed by BTSX. In all practical purposes it is identical to bitUSD (except the name and the feeds). If bitUSD has low liquidity why do you think bitGOLD would ?

Great point.

Unrelated side question: can the "market cap" of bitUSD be tracked? Perhaps bitUSD should be listed on coinmarketcap.com and presented as its own "alt coin". We should take the focus off the bitshares exchange and focus on marketing the product. I'm absolutely convinced once the crypto community understands bitUSD, they'll be all over it.

Offline xeroc

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bitGOLD is backed by BTSX. In all practical purposes it is identical to bitUSD (except the name and the feeds). If bitUSD has low liquidity why do you think bitGOLD would ?
That's why I am asking in the other thread whether its a good idea to launch bitGLD already ..

Offline emski

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bitGOLD !


bitGOLD is backed by BTSX. In all practical purposes it is identical to bitUSD (except the name and the feeds). If bitUSD has low liquidity why do you think bitGOLD would ?

Offline liondani

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Offline emski

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Basically any high-demand service will be sufficient.
However an already established online casino might not be interested in including bitUSD as there might be no liquidity.

Offline emski

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So far we've got:

Darknet markets
Remittances

How about gambling?

Gambling might be huge consumer of bitUSD if done properly.
In order to play in the virtual casino you should buy bitUSD under current market conditions.
That will create some demand and market depth. The rest should adjust by itself.

The question is who will build that virtual casino. Should an existing gambling site be contacted to include bitUSD ?

Offline Method-X

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So far we've got:

Darknet markets
Remittances

How about gambling?

Offline bitmarket

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I don't think remittance markets are a good fit for bitUSD.   volatility of btc remittance is not a challenge because people are in and out so quickly. 

But I love being wrong   :)
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Offline kisa

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Possibly remittances could be an attractive segment to approach!

The main challenge here would be brokers (trusted persons network) in target countries, who can be contacted by recepients locally via Email or phone for exchanging bitUSD -> cash USD for some reasonable fee...


Offline Method-X

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Would anyone be interested in doing an AMA on Agora/Evolution/SR2 forums?

We need a grassroots effort to seed BitUSD on the darknet. This is where it has the most utility. If it catches on there, like with bitcoin, the initial momentum will create the necessary infrastructure to appeal to an entirely new and less sketchy demographic.

If you believe past patterns predict future patterns then darknet markets are necessary. The underground precedes (and allows for) mainstream adoption.

PM me if you're interested in doing an AMA. We'll schedule something for the near future.