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Topic: [neㄘcash, ᨇcash, net⚷eys, or viᖚes?] Name AnonyMint's vapor coin? - page 54. (Read 95256 times)

sr. member
Activity: 420
Merit: 262
Ok, my last suggestion Wink

Smartsync, smartbits, smartcash

I really appreciate the opportunities to see how others think and then respond with my thinking.

This appears to be in category, "descriptive name, e.g. clickz, mycash, bitoken, netoken, cyberbit".

What does smart say that is unique about our project or the target audience?

Smartdraw was a product that helped you draw because it was smart enough to know how shapes aligned, e.g. flow charting shapes.

I think what people want for the block chain network is consistency (no double spends, no errant scripts for programmable block chain), omnipresence, instantaneous, and powerful (programmable).

I think what people want from their currency is ubiquity, liquidity, stability, utility, permission-less, autonomous, fungible, and anonymous. I don't see how smart really talks to those attributes. I think it will be impossible to find one term that describes all those qualities. Thus I look at a high tech fundamental such as Ƀits as enabling all those qualities. K.I.S.S. then brand in the users experience and mind those qualities to the simplest term that can't have any copycat variants such as "Magicbits, Masterbits, Accubits, Bestbits, Pseudobits, Gurubits, Sagebits, Solidbits, Zepherbits, Fastbits, Instabits, etc". In 2014 I did a poll and one of the name choices was ubiqoin. The variants never end and thus none of them are brandable. It becomes a sea of altcoin names.

For the social networking currency, I think the target demographic wants it simple, fun, friendly. Want to capture that in name that they can relate to instantly. "Cha-ching" and "cool cash" seems to be a perfect fit. If we name it something else they might not get that it is money. It was clear that Facebook was a site for faces. Friendster was a site for friends. Monero is money I suppose, but is that as much fun to say as "send me some cool cash" or "send me some cha-ching"?

It is possible that coolbits is superior to coolcash. Thanks for causing me to think of that. I like the sound of coolbits.



Edit: I am getting sleepy so I my reasoning or expression of it may be lacking.

Afaics 'smart' doesn't speak to any unique brandable quality.

I am really liking 'coolbits', as it rolls off the tongue much better than "cool cash". It is congruent with the 'Bits' theme. And it has a social networking vibe to it, e.g. my 'privatebits' are cool. The reason I think 'coolbits' doesn't get lost in a sea of '___bits' names is because 'cool' fits the social networking demographic very well. Other descriptive words prepended to '____bits' do not appeal to the demographic, e.g. 'accubits'.

Also I thinking that in this self-publishing (two-way) media of the internet (as opposed to TV and printed media), that users want to express themselves. Although you want money to be universally accepted, people still may have preferences when speaking about money as a social internet concept. With crypto-tokens it should be possible to convert between them in real-time (assuming liquid markets) so that people can express themselves in terms of their preferred named token.

Thus maybe what I should do is have 3 merged-mined currencies with 3 different levels of debasement and money supply, so the market can express itself both in terms of naming preferences and also the complex interaction of different currencies with different rates of inflation and velocities of money. When you mine a winning block, you received some of each currency.

DebasementMoney SupplyName & Currency Unit
~0%1 billionɃits
~5%1 trillionCꙭlbits
~10%1 quadrillionCha-ching (or we chan if we prefer)
sr. member
Activity: 332
Merit: 250
Ok, my last suggestion Wink

Smartsync, smartbits, smartcash

sr. member
Activity: 420
Merit: 262
I am resetting the poll again, so we can get votes relevant to the choices I will realistically consider accepting, so I can know the Altcoin forum community perspective towards my current choices. There is a slight chance the community's vote could sway me to another direction on the naming. The more likely point of this (probably final) poll is just so I know better the thinking of this Altcoin forum community. I do not think this Altcoin community is indicatve of the broad user market. It will be a potentially useful baseline data to have a record, so future polls and results in amongst different demographics (or even this same community over time) can be compared.

Here is a record of the prior two votes.



The poll has been reset because we added many name choices after the start of poll. So that everyone can revote, because I think the polls don't enable voters change their vote. The prior poll results are captured in the image below.



Since those who are not interested or don't like any of the name choices had already expressed their opinion in the above image capture of the prior poll results, then the new pool does not offer these choices so we can focus on choosing a name from the available ideas.



Please add a new option:

"stop obsessing over the name and get coding already!"

All feedback is welcome and yours is useful because it explains why I would get a negative reaction from someone like you. You only relate to engineering and code. That is fine, I wear that hat most often. But I also wear other hats occasionally and that is why you can not relate at this time because I am wearing my marketing hat.

Organizing plans first is more important than coding first, because one who wastes his time coding that which they have to throw away and start over again, does not make progress. Working smarter is much more astute than working blindly harder. One could dig a trench with a spoon, or get organized and use a bulldozer. Or better yet, realize the city government is digging the trench next week, so do nothing and wait.

One who lets names and marketing priorities slip away because they are always coding, is relegated for life to being just a coder. Many people can code (such as yourself). Very few people can code on something that is worth coding. The marketing people make the big money, and the coders slave away for salary.

If you show no interest in naming, then you are only a coder. So you wouldn't understand. That doesn't give you the expertise to criticize me. How many million user products have your produced by yourself tromp?

Edit: tromp one of the issues I was trying to sort out was whether I was going to discard the more playful and fun types of social names for a currency. And also to sort out whether I had sufficient high quality options such any of the choices encounter irrevocable pitfalls down the line. And to make sure I had registered (only the) key domains needed to protect the desired choices and range of quality plan B options.

Edit#: I added alias for the option you requested, "i'm biased against you or your style".

It is notable that some people will complain about me posting 2 - 3 times per day in my thread, yet there is a higher post volume in the AEON thread and they mostly talk about how many coins they are buying, exchange volume, liquidity, etc.. As if investor clique masturbation is coding.  Roll Eyes
legendary
Activity: 990
Merit: 1108
So far we have proposed Sync (a.k.a syᕱᕳ, BlocSync, Bitsync, Ƀitsync) for the consensus network on which many assets may co-exist.

And we have proposed Bits (a.k.a Ƀits, Bitcash, Ƀitscash, or Ƀitscoin) for the currency name:

Please add a new option:

"stop obsessing over the name and get coding already!"
sr. member
Activity: 420
Merit: 262
So far we have proposed Sync (a.k.a syᕱᕳ, BlocSync, Bitsync, Ƀitsync) for the consensus network on which many assets may co-exist.

And we have proposed Bits (a.k.a Ƀits, Bitcash, Ƀitscash, or Ƀitscoin) for the currency name:

ɃBits
ƀmillibits
microbits
ʘnanobits

I am now also proposing there be a second currency, either (Cha-)Ching or Cꙭl cash. This second currency will be more playful.

The Bits currency will have a very low debasement rate (perhaps 0% if contemplated to be equivalent to the "transaction fee" rate). The Ching or Cꙭl currency will have a higher debasement rate. In this way, users can choose to sell first from merged mining that which has the lower ROI for mining (even though I expect mining to be unprofitable for professional miners and ASICs). In this way, there will be a natural market regulation between high and low debasement rate options. The high debasement rate will put more tokens in the hands of users and probably have a higher velocity of money (TX/s) which implies a higher valuation, but this is offset by the desire to not hold it for store-of-value if the higher velocity does not sufficiently offset (in short, it is complex and the market must arbitrage the balance).

The playful currency will only have one unit (to prevent nꙭbs confusion) and it will be set so that micrʘ-transactions are whole number values. The proposed currency symbols are:

(cha-)ching
cool (cash)
sr. member
Activity: 420
Merit: 262
I propose the following units and currency symbols.

ɃBits
ҍmillibits
microbits
ʘnanobits

The lowercase of Ƀ is ƀ. Thus if we own domains such as ƀits.net, then Ƀits.net is same domain since all uppercase letters are converted to lowercase (by the web browser) when navigating to a domain (because domains are always lowercase).

Thus I have changed the proposed millibits symbol from ҍ to ƀ.

Also there are variants of ʘ, e.g. ⵙ and ꖴ, but I think I prefer the first one.

Also there is an alternative spelling for Sync that would clearly not be already trademarked and can be used in a domain name:

synᕳ
syᕱᕳ
sr. member
Activity: 420
Merit: 262
The post was deleted as it has nothing to do with BITZ currency which was launched on 01/03/2015, so we have been around for 8 months now. We are at https://bitz.biz and we have been on that domain since February. I think that you would confuse the market as there is already Bitstar (BITS) and BITZ so your coin would be the third one called BITS.

Thank you for the response and explanation.

I wish the marketing power of the name choice did not compel me to choose it, because I would prefer not to use something that anyone else had attempted to market. Unfortunately, I see this as the best name by far in order to take on Bitcoin which is what I intend to do. I am not just building a niche, but intending to replace Bitcoin in some potentially large markets where it had decided to ignore the market (e.g. micro-transactions, anonymity as a key property of fungible money, friendly developer APIs, block chain features other than just Bitcoin, etc).

It is clear that the first proposed use of 'BIT' or 'bits' was the proposal to use it as an alias for µBTC, which is a prior art on your use of Bitz as a currency unit. However this was not widely adopted by the millions in the Bitcoin ecosystem.

Your coin is not even a smidgen of widely adopted (certainly not users, and only a modicum of investors) so there will be no confusion if Bits gains wide user adoption. And Bits doesn't gain wide adoption, then both of us failed in the user market. As for confusion in the investor speculation market where your adoption could be claimed to be not totally zero, I want to assure you I will not be marketing Bits on these forums nor to the investment speculators, thus there will be no confusion in the market where you have some small (perhaps growing) but not zero market share.

So in other words, there will be no confusion because while Bits is nascent, it won't be promoted (not by me at least) in these forums where you promote Bitz, but rather directly to users via other distribution channels where you do not market Bitz. And if Bits becomes a widely adopted user phenomenon that is on speculators' radar, then there won't be confusion which Bits the speculators are interested in by that juncture.

I was aware of Bitstar and their technically incorrect use of BITS as the currency code (XBT or XBS would be correct), but I didn't know they were using BITS as the currency unit. Bitstar uses the currency symbol ฿ and I proposed Bits use Ƀ. Indeed Bitstar uses the 'BITS' currency unit whereas I have proposed using the 'bits' currency unit:



Also we should note that the name of the coin is Bitstar and not Bits, which is not confusing at all. If someone searches for "bits coin" or "bits cash", they will end up at my project's website and not at Bitstarcoin.com. If they search for "bitstar", "bitstar coin", "bitstar bits", they will end up at Bitstarcoin.com.

So we have two prior arts on using the term 'BITS' (even the Coinbase capitalized the 'BIT' for the µBTC alias) for the currency unit, but no prior art for using the term Bits as a crypto-token protocol name.

And what matters in the end is whether there will be confusion due to two very similar names having similar levels of market awareness. I don't think there is much confusion between Bits and Bitstar. If someone says "pay me some bits" at this time, no one would have any clue whether they mean Bitcoin BITS, Bitstar BITS, or Bitz bitz. So at this time since these projects or usages are very rare, then someone would need to qualify which kind of bits they want. So in that case they would say "pay me some Bits' bits". If one of these usages becomes very widely adopted in the user market, then no one will be confused which bits someone is referring to. As for investors, there won't be any confusion between Bits and Bitstar.

I really don't see great confusion between Bits and Bitstar. Bitz and Bits could be very confusing if both are well known in a market. I think I explained to you that for the nascent investor speculation market, Bits won't be competing with Bitz for eyeball share. If Bits becomes very popular as I hope in user markets, then Bits will have won and there won't be any confusion. If Bits dies on the vine in user markets, then you will keep your small share of the investor speculation market exclusively.

It is not a perfect situation, but I think it will work out okay. If I am successful as I hope to be, you may get more from selling your domain than from your crypto-token project. If not, your efforts won't be diluted in the meantime.

To protect the Bits crypto-token protocol usage, I registered the following domains:

bitscoin.org
bitscoin.us

I am amazed the first domain is available, because it is a one letter misspelling of bitcoin.org which is taken to be the official domain of Bitcoin. So if people start using bits and get confused with Bitcoin, they might type bitscoin and end up at my site. Note it appears bitscoin.com and bitscoin.net are both for sale (the latter for $1500).

From the results of this poll so far you are losing/alienating your audience. Stop posting polls and other shit every day and go build something.

Remember up thread it was smooth (but more so another Monero supporter) who were stating I should shut up and code instead of focusing first on choosing a name. I understand the priority of marketing and even apparently the Bitcoin community did not.

Edit: there is more discussion about the adoption of "BIT" or "bit" for Bitcoin's µBTC alias, as well the need to adopt XBT instead of BTC as the ISO currency code. I believe it would make much more sense for Bitcoin to use XBC and for Bits to use XBT. But if Bitcoin is going to claim XBT, then Bits can choose XIT, XBC, XBI, or XBS.
legendary
Activity: 1148
Merit: 1000
A Wound in Eternity
https://bitcointalksearch.org/topic/bitz-pure-10-pos-on-bittrex-1234442

A different coin popped up today with the Bitz name.

He deleted my following post from that new self-moderated thread and has locked his prior pre-announcement thread (which was not self-moderated).

I am noting the website bits.biz did not become what it is now until some time after Aug 1, 2015.

https://web.archive.org/web/20150801031514/http://bits.biz/



Please be advised that I am claiming the names Bits, Bitsync, and Sync for a crypto-token and crypto-network project under development. Also be advised that I also advocated the use of 'z' as a substitute spelling for plural 's' and have argued that such spellings cause confusion.

I have also registered bitzcash.net and bitz.cash. Please note the seriousness of my project development means that it is very unlikely yours will have any significant relative usership to compete with my use of the names and thus you will not likely benefit from the use of a confusing duplicate name.

I therefor amicably advise you to be realistic and pick another name if you are serious, but any way I do not see your project as anything more than another "yawn" copycoin that will flame out and wither away. In short, I am advising you that I am taking this name space and there is nothing you can do to stop it.

You may be able to get more for your bitz.biz domain by donating it to our project later than the very unlikely possibility that you will get anything for it from your inadequate PoS copycoin effort. I hope you understand the caliber of developer you are up against and make the wise and amicable decision.

I do empathize if this seems rude or disrespectful of your few months "pre-announcement" headstart on the similarly spelled name, but I do not believe you have the capability to produce a world class Bitcoin killer project and I believe I do. Thus I will not back down from the use of the name Bits if my community continues to believe that is the best name for our project.

Sincerely.

As an example of the confusion in spelling, note in my multi-tasking haste, I did the quoted whois search on bits.biz, not bitz.biz. Lol.  Embarrassed

Actually the first record of his website becoming active with the crypto-token is Sept 28, 2015.

Note in addition to various bits domain names, I have also registered:

bitsync.us
bitsyn.co
bitsyn.ch
bitsync.biz
bitsync.network

So if we refer to our consensus network as as "Sync", that is short-hand for Bits Sync or BlocSync.

The currency is Bits or Bits.cash.

The post was deleted as it has nothing to do with BITZ currency which was launched on 01/03/2015, so we have been around for 8 months now. We are at https://bitz.biz and we have been on that domain since February. I think that you would confuse the market as there is already Bitstar (BITS) and BITZ so your coin would be the third one called BITS.
hero member
Activity: 770
Merit: 504
I am looking forward to see what smooth et al can do with the Aeon/Ion theme and it is well known that I respect smooth's skills. He and I already established that he is a computer programming language polygot (as I am, but he more so)... I coded some social networking sites but nothing hit a sweet spot.
 
  
I have coded many times in my life (even majored in Comp Sci at one point) and maintain an interest in it, but know that even if I dedicated myself to coding I would be at best above-average.  
  
Creativity, writing, and thinking outside the box are my strong suits, even if their contributions to an ecosystem are hard to quantify.  I prefer exploring the bridge between technology and psychology that Apple seemed to master vs. mastering the hard technology itself.  
  
I respect that you evidently have been active in the tech field since it hit its exponential growth in the 80's, and despite being from different generations, I think we both realize that this (cryptography applied to money) is the next big frontier in technology.  It will likely transform the entire world.  I hope that you'll consider staying an active member of the Aeon community, even if you dislike the Monero one.  Coincidentally, I just brought up the idea of changing Aeon's tail emission to be perpetually inflationary (albeit at a low rate).  I know you have strong opinions about economic principles, so please feel free to drop by the Aeon [ANN] topic and give your opinion, even if you have no stake in that particular blockchain.  
  
Here's wishing you the best of luck with your own currency.
sr. member
Activity: 420
Merit: 262
I am looking forward to see what smooth et al can do with the Aeon/Ion theme and it is well known that I respect smooth's skills. He and I already established that he is a computer programming language polygot (as I am, but he more so), he has exceptional logic, and that he is a more experienced and complete network stack engineer than I am (and that last item is an understatement!). I have much more experience and interest than he does in the user interface and visual creativity side. Heck I even wrote GUI subsystems such as emulating the Mac API on Windows for what is now Corel Painter.

Smooth and I want essentially the same goal which is for crypto to become much more popular and to advance the technology. We are both fascinated by the concepts and the possibilities. I believe smooth is more of out-of-the-box thinker (but maybe not as far out-of-the-box as myself, so let's just say nuances of cultural difference perhaps for example as he appears to have been heavily experienced in open source for long time and I came from the commercial world of graphics and destop publishing software) than perhaps some of the other Monero devs who may be more pragmatically focused.

I think fundamentally the major difference is those devs appear to come from server backend type open source backgrounds, and I come from the Steve Jobs era of highly refined creativity and delivering million user consumer software. Those guys interfaced mostly B2B and I interfaced mostly B2C. I think that is why we are seeing massive cultural friction between our styles. I did not come from academia and publishing white papers. I was sleeping under my desk as a programmer since the summer of 1983 pretty much non-stop until Dec. 1, 1999. I've been mostly out-of-production since at least 2012 due to illness. From 2003 to 2009, I was goofing off. In 2010 and 2011, I made some serious attempts to be productive again. I coded some social networking sites but nothing hit a sweet spot.
hero member
Activity: 770
Merit: 504
I'd just like to thank TPTB for surrendering any 'social claim' he might have to the Ion name to the Aeon community. 
 
We will proceed as if we have the consensus of the crypto community to use this name in conjunction with our coin.  The current plan is to use it as our form of 'bit' (one millionth of an Aeon). 
 
Thanks again; I think this is a plan that makes the most sense for everyone involved.
sr. member
Activity: 420
Merit: 262
https://bitcointalksearch.org/topic/bitz-pure-10-pos-on-bittrex-1234442

A different coin popped up today with the Bitz name.

He deleted my following post from that new self-moderated thread and has locked his prior pre-announcement thread (which was not self-moderated).

I am noting the website bits.biz did not become what it is now until some time after Aug 1, 2015.

https://web.archive.org/web/20150801031514/http://bits.biz/



Please be advised that I am claiming the names Bits, Bitsync, and Sync for a crypto-token and crypto-network project under development. Also be advised that I also advocated the use of 'z' as a substitute spelling for plural 's' and have argued that such spellings cause confusion.

I have also registered bitzcash.net and bitz.cash. Please note the seriousness of my project development means that it is very unlikely yours will have any significant relative usership to compete with my use of the names and thus you will not likely benefit from the use of a confusing duplicate name.

I therefor amicably advise you to be realistic and pick another name if you are serious, but any way I do not see your project as anything more than another "yawn" copycoin that will flame out and wither away. In short, I am advising you that I am taking this name space and there is nothing you can do to stop it.

You may be able to get more for your bitz.biz domain by donating it to our project later than the very unlikely possibility that you will get anything for it from your inadequate PoS copycoin effort. I hope you understand the caliber of developer you are up against and make the wise and amicable decision.

I do empathize if this seems rude or disrespectful of your few months "pre-announcement" headstart on the similarly spelled name, but I do not believe you have the capability to produce a world class Bitcoin killer project and I believe I do. Thus I will not back down from the use of the name Bits if my community continues to believe that is the best name for our project.

Sincerely.

As an example of the confusion in spelling, note in my multi-tasking haste, I did the quoted whois search on bits.biz, not bitz.biz. Lol.  Embarrassed

Actually the first record of his website becoming active with the crypto-token is Sept 28, 2015.

Note in addition to various bits domain names, I have also registered:

bitsync.us
bitsyn.co
bitsyn.ch
bitsync.biz
bitsync.network

So if we refer to our consensus network as as "Sync", that is short-hand for Bits Sync or BlocSync.

The currency is Bits or Bits.cash.
legendary
Activity: 1050
Merit: 1001
sr. member
Activity: 420
Merit: 262
I have made the decision to donate the ion.cash domain to smooth and the Aeon project. I believe I spent $40$49.15 to register it afair.

If you would like to accept this meager donation, please tell me how to transfer it to your desired registrant. It is currently registered at GoDaddy under my name.

It would be best to complete this before I become too busy on other matters.

P.S. This is orthogonal to any other issues. The name ion likely was a subconscious invention after learning smooth was working on aeon. I'd prefer to not have two coins with such similar names (in addition to iota). I have other available choices for names, so I think this name should go to whom was first.

Thank you for the donation. I'll PM the instructions from our registrar.

I unlocked it for you at GoDaddy (subliminal "who is your daddy?").

Good to see it has suggested utility in your coin community. In my polls it seemed to have at least a 50% approval rating and stood up well to other names in terms of voting even when I was discouraging voting for it.

The reason I spent $49.15, was because Godaddy was the only registrar that had it available. I expended a fair amount of effort to find ion.cash available, as it was not available on the other registrars I normally use.
legendary
Activity: 990
Merit: 1108
But you may want to avoid combining "bits" with "privacy":-)

https://www.google.com/search?q=private+bits&tbm=isch
sr. member
Activity: 420
Merit: 262
That appears to have been an open source proposal for bits to be an alias for µBTC (and not even BTC), thus bits was not an actual name for Bitcoin and was an alias for micro-transactions which are not prevalent (at least from a user perspective where any stake for confusion and market adoption would lay, although perhaps auto generated by bots such as SatoshiDice) in Bitcoin because the block chain can only handle 7 TX/s.

I think the idea was not necessarily for micro transactions but to transition to more of a Yen-type model where ordinary transactions that people already do are for (relatively) large numbers of bits rather than small fractions of Bitcoins, the latter being seen as less user-friendly. Also, by making a satoshi 1/100 of a bit, accounting software that supports two decimal places becomes more compatible. It seems to have mostly gone inactive as BTC value dropped.

Ah yes, thanks for the clarification.

Even if BTC had remained high, the rebranding as bits would not have likely gained support, because people are quite proud of how much their BTC is worth (scarcity and the pride of owning an entire Bitcoin, 10, 100, or 1000 of them) and they are also quite proud of their Bitcoins, not their bits. I think the resistance against rebranding an established product is much more inertia that inexperienced marketers may comprehend. Bitcoin ever since it became a speculative fever (and become much more popular and well known, i.e. branded), has always been about how many of these precious limited supply items you could obtain in the mad rush to convert the entire world's $250 trillion net worth into BTC.

The Bitcoin community did not adopt Ƀ (which is a unicode character that can be pasted into any text displayed in a browser) and clung to BTC which is an image, I presume not only because it was already established, but because of pride they wanted to emulate the and not emulate the Thai baht ฿. We have all seen how pride as been one of the common traits of Bitcoin fanboiz.

So either bits was was for micro-transactions alias as I posited (but Bitcoin can't do micro-transactions volume) or as explained by smooth it was for a "Yen-like" rebranding which was rejected by the community, which he explains due to a lowering of the BTC price, but regardless I think is simply a fact of brand inertia. It is virtually impossible to have two branded names for the same product in same target market (notwithstanding one could have two related products in two different target markets, e.g. Sync consensus network and Bits currency but I will probably abandon Sync if we choose Bits since the latter could serve both target markets and ostensibly unification is preferred in that case).

Edit: The more I think about this rebranding point, the more important I think it is to recognize that the target market is not easily changed midstream into a product's adoption. I posit that Bitcoin's demographic has been one the inertia humps that is retarding it from moving to the next order(s)-of-magnitude in mass adoption. I have some very specific reasons for positing that which I will detail in hindsight at the appropriate juncture.
legendary
Activity: 2968
Merit: 1198
That appears to have been an open source proposal for bits to be an alias for µBTC (and not even BTC), thus bits was not an actual name for Bitcoin and was an alias for micro-transactions which are not prevalent (at least from a user perspective where any stake for confusion and market adoption would lay, although perhaps auto generated by bots such as SatoshiDice) in Bitcoin because the block chain can only handle 7 TX/s.

I think the idea was not necessarily for micro transactions but to transition to more of a Yen-type model where ordinary transactions that people already do are for (relatively) large numbers of bits rather than small fractions of Bitcoins, the latter being seen as less user-friendly. Also, by making a satoshi 1/100 of a bit, accounting software that supports two decimal places becomes more compatible. It seems to have mostly gone inactive as BTC value dropped.
sr. member
Activity: 420
Merit: 262
Bitcoin could attempt a reverse coup d'état, by fully embracing bits over btc/bitcoin and then attempt to siphon back the usage. But I think this might fail, because essentially they'd be doing advertising for Bits as well. And I am fairly confident about who can out innovate in terms of when users land on something, do they get what they wanted immediately (and don't have to sign up for sn exchange, KYC, and that crap or funding via localbitcoins, coins.ph, quickbit, or what ever using a credit card perhaps).

bits has already been proposed, and on a small scale perhaps even used, as a smaller unit for bitcoin.

https://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/
https://blog.coinbase.com/2014/06/20/its-bits/

Thanks. Yeah I remember I had seen something like this before, but as I said it has not been widely nor consistently adopted. In other words, there can't be confusion because Bitcoin has never been pervasively referred to as bits. That appears to have been an open source proposal for bits to be an alias for µBTC (and not even BTC), thus bits was not an actual name for Bitcoin and was an alias for micro-transactions which are not prevalent (at least from a user perspective where any stake for confusion and market adoption would lay, although perhaps auto generated by bots such as SatoshiDice) in Bitcoin because the block chain can only handle 7 TX/s.

Thus I don't think Bitcoin supports can righteously can claim a monopoly over the use of term bits for crypto-tokens. It appears to be an unused term w.r.t. to an open source block chain and widely adopted currency unit.

In effect those are Bitcoin µBTC bits, and not just bits the block chain unit. Coinbase might be induced to change their GUI to indicate that reality of the fact that Bitcoin is named Bitcoin and not Bits.

A lawsuit by Coinbase against Bits would be excellent publicity for a nascent coin. What is the most they can accomplish with a lawsuit? Confiscate the domains? They can't prevent an open source name. What really matters is what the community wants. And again I don't think we will grow crypto by only targeting the existing Bitcoin monotheists (putting all their eggs in one basket). Rather if they are wise, they will embrace a project that lights a fire under the Bitcoin community and shows them how apathetic they've been. A project that can actually fix and organize some things that Bitcoin hadn't managed to get done in 6 years.
legendary
Activity: 2968
Merit: 1198
Bitcoin could attempt a reverse coup d'état, by fully embracing bits over btc/bitcoin and then attempt to siphon back the usage. But I think this might fail, because essentially they'd be doing advertising for Bits as well. And I am fairly confident about who can out innovate in terms of when users land on something, do they get what they wanted immediately (and don't have to sign up for sn exchange, KYC, and that crap or funding via localbitcoins, coins.ph, quickbit, or what ever using a credit card perhaps).

bits has already been proposed, and on a small scale perhaps even used, as a smaller unit for bitcoin.

https://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/
https://blog.coinbase.com/2014/06/20/its-bits/
sr. member
Activity: 420
Merit: 262
Bitcoin could attempt a reverse coup d'état, by fully embracing bits over btc/bitcoin and then attempt to siphon back the usage. But I think this might fail, because essentially they'd be doing advertising for Bits as well. And I am fairly confident about who can out innovate in terms of when users land on something, do they get what they wanted immediately (and don't have to sign up for an exchange, KYC, and that crap or funding via localbitcoins, coins.ph, quickbit, or what ever using a credit card perhaps).
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