No. He was talking about not having the option of trading BTC directly for TAO so that you could only trade it against USD or alts, which should have the effect of decoupling it from the BTC price. This has nothing to do with being able to deposit BTC or ETH to purchase ODB, which is what I was talking about above.
OK, so you're supposed to be able to trade BTC/alt and alt/TAO, but not BTC/TAO? How does that make sense?
USD/TAO
TAO/alts
Makes sense to me.
BTC being the base for trading pairs only makes sense because it's familiar, not because it's the only way to do things. He's already said that it's an experiment and he can always add a TAO/BTC pair later if he sees fit to.
Just to clarify, also BTC/USD and BTC/alts? And ETH/USD and ETC/alts?
Because that's how it's been now? Crowdsale of ODB for ETH/BTC, _not_ for TAO or fiat?
Let me restate in full to clarify. Hopefully this will make sense to you.
Currently ODBcoin can be purchased during the sale by anyone with an account on AltMarket. Deposits are currently limited to ETH, BTC, and USD, with TAO coming shortly. This is just for the purpose of purchasing ODBcoin for the duration of the sale which ends in February. I believe Tao gives you a 5% discount, the same as what you get if you signed up to the pre-sale notification email opt-in that was up on the site before Dec 1st when the sale began.
After the sale is over, there will be the audit which will be concluded sometime between mid February and March 1st to my understanding. I'm not sure if trading will become available to the public before or after the end of the audit, but at the latest it sounds like it should be very soon after the end of the audit.
Once full trading is open to everyone, Tao will be the base for trading pairs for either most or for all alts on the market, and definitely will be the exclusive base for ODBcoin and all future icon token trading pairs.
I believe BTC will be a base for some alts, but it will
not be for any of the icon tokens, and would also not be a base for Tao in the proposed scenario. I'm not sure if BTC would be traded with TAO as the base, but I'm assuming most likely not in this scenario. ETH will be the base for some alts but none of the icon tokens. I'm not sure if Bryce is considering decoupling from ETH, so possibly you might have it as the base for TAO.
So if you want to buy Tao on the market once it's open you'll be able to hook up your bank account, deposit USD and buy Tao directly, or you'll be able to deposit BTC and trade to an alt and buy with the alt, possibly including ETH. If you want to buy ODBcoin you will have to buy Tao first, no other option once the sale ends. Same with future initial artist token offerings.
Should be interesting to see it. In the mean time, I'm hearing electrum servers are up and running and one of the community members is working on an android wallet to be released soon.
Uh huh. So you can't currently even use TAO for it's ostensible main purpose, is that right?
But "in the future", altmarket won't be offering icon token sales with anything but TAO, but obviously there's no way to stop other platforms from doing so, or from OTC sales to happen? Or, if this isn't possible, what's the difference from said tokens just being stored in a centralised database at altmarket? Just the blockchain buzzword?
It just seems weird to me that if the point of TAO is to be the single point of entry for icon tokens, that it, well, isn't. Instead TAO/OBD is, at launch,
not even an option.
It also seems weird to me how often and how many times the ostensible plan, deadlines, goals etc. have changed since the original launch of TAO. And I mean they haven't been
small changes, but pretty radical differences.