Author Topic: the name of 'bitGLD' should be reconsidered  (Read 5679 times)

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Offline jsidhu

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XAUUSD is only used in bucket shop market making mt4 trading platforms and the like. We absolutely DO NOT want to follow in their footsteps and conventions.

Right, why would you want to attract $2B of forex accounts money parked in bucket shops to your platform?
Where do you get the number $2B parked in retail forex accounts? What % of them would move over just because XAUUSD was used and not bitGLD?
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Offline bitmeat

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XAUUSD is only used in bucket shop market making mt4 trading platforms and the like. We absolutely DO NOT want to follow in their footsteps and conventions.

Right, why would you want to attract $2B of forex accounts money parked in bucket shops to your platform?

Offline jsidhu

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XAUUSD is only used in bucket shop market making mt4 trading platforms and the like. We absolutely DO NOT want to follow in their footsteps and conventions.
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Offline xeroc

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In theory, all the assets are indexed by a number in addition to the ticker, so couldn't you just have the clients display a different symbol based on the localization or preference?  It would be a very simple thing to make a user-definable preference for displaying BitGLD or BitXAU, albeit probably not very high on the list of priorities for development.

I realize that the downside is the potential confusion going forward created by two tickers referring to the same asset; however, you have to weigh that against the confusion of arguably the largest market for bitGLD/XAU being initially confused by an unfamiliar ticker.

IMHO, for marketing purposes, the two symbol solution would be an acceptable tradeoff.
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Offline pariah99

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In theory, all the assets are indexed by a number in addition to the ticker, so couldn't you just have the clients display a different symbol based on the localization or preference?  It would be a very simple thing to make a user-definable preference for displaying BitGLD or BitXAU, albeit probably not very high on the list of priorities for development.

I realize that the downside is the potential confusion going forward created by two tickers referring to the same asset; however, you have to weigh that against the confusion of arguably the largest market for bitGLD/XAU being initially confused by an unfamiliar ticker.

IMHO, for marketing purposes, the two symbol solution would be an acceptable tradeoff.

Offline Mysto

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If that is true it would be wise to increase the limit.

Derived/pegged assets by their very nature are going to need descriptive names.
Each asset has a description that can be much longer ..

I am aware of this... but the vast majority of folks will never see the descriptions, just the asset names.

I don't think they need descriptive names per se just names that are recognized worldwide like... XAU

Offline oldman

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If that is true it would be wise to increase the limit.

Derived/pegged assets by their very nature are going to need descriptive names.
Each asset has a description that can be much longer ..

I am aware of this... but the vast majority of folks will never see the descriptions, just the asset names.

Offline xeroc

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If that is true it would be wise to increase the limit.

Derived/pegged assets by their very nature are going to need descriptive names.
Each asset has a description that can be much longer ..

Offline oldman

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XAU is correct, however, nearly impossible to market to average folks.

bitGOLD and bitSILVER should be implemented before a mainstream marketing push.
AFAIR there is a limit to the length of the bitasset name... and if I am not misstaken it's 6 byte .. i.e. 6 chars

If that is true it would be wise to increase the limit.

Derived/pegged assets by their very nature are going to need descriptive names.

Offline xeroc

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XAU is correct, however, nearly impossible to market to average folks.

bitGOLD and bitSILVER should be implemented before a mainstream marketing push.
AFAIR there is a limit to the length of the bitasset name... and if I am not misstaken it's 6 byte .. i.e. 6 chars

Offline nomoreheroes7

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XAU is correct, however, nearly impossible to market to average folks.

bitGOLD and bitSILVER should be implemented before a mainstream marketing push.

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Offline oldman

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XAU is correct, however, nearly impossible to market to average folks.

bitGOLD and bitSILVER should be implemented before a mainstream marketing push.

Offline matt608

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bitXAU or bitGold I would much prefer! 

Offline xeroc

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middlemen and brokers are also expected! why not break with the traditions ..

or let's ask this way: why is it an INDEX after all?

Offline Kenof

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 +5% for bitXAU

XAU comes from Index Aurum, it is universally excepted
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