Change NuBits ticker symbol

[leka]

It would be nice to change the NuBits ticker symbol from NBT to something else that helps people associate it with the US Dollar, e.g. USD₦. What do you think?

[Sentinelrv]

This is actually going to happen once we introduce our new currencies. The current USD NuBits will be rebranded to US-NBT.

[zoro]

I like the USDN (USD₦)symbol better. Like tether’s USDT

[leka]

I think this is very important. People not familiar with NuBits that are interested in trading fiat will definitely be attracted to a coin whose ticker starts with USD. Tether’s choice of USDT was a smart move.

[Sentinelrv]

@tomjoad, what do you think of the version above?

The problem I see is that we already passed a motion which calls them US/European/Chinese NuBits in order to disconnect us from the name dollars and euros. The purpose of this disconnect was to help prevent any legal trouble for shareholders in the future.

While I like the shortened version of USDN better than US-NBT, it connects US & D (government & currency name) with NuBits, which goes against our motion I believe.

[tomjoad]

@tomjoad, what do you think of the version above?

Putting USD in front of the product is a sure-fire way to attract attention from regulatory organizations. We are not offering government backed currencies or derivatives. We are offering cryptocurrencies that are pegged to a national currency as best as possible. US-NBT, CN-NBT, EU-NBT and X-NBT will work well for us once they’re all launched and running.

[leka]

Putting USD in front of the product is a sure-fire way to attract attention from regulatory organizations.

I believe regulatory organizations are a bit smarter than that. At this point I think it’s more important to attract people than anything else. Besides if legal troubles appear because of our ticker symbol then by using another symbol we are only hiding the problem, which is definitely not a solution.

In any case I think we should move on with the ticker symbol change now and not wait until all the other cryptocurrencies are launched and running. I’m new to NuBits but I think this sounds like a motion that can be voted, right?

[Nagalim]

Regulation in the US isnt always logical. Sometimes the best thing to do is just keep your head down, most departments are understaffed and if you aren’t rubbing it in their face they don’t care. There is no real solution to government regulation, we have no control over the branches of government.

If you’re asking for a ticker change i don’t think we’d need a motion, we already did that. As far as I can tell we can start asking right now for poloniex to change our ticker symbol to USNBT. It’s just a matter of organization and asking enough times for them to register it as a legitimate change (maybe point them to the passed motion).

[leka]

As far as I can tell we can start asking right now for poloniex to change our ticker symbol to USNBT. It’s just a matter of organization and asking enough times for them to register it as a legitimate change (maybe point them to the passed motion).

Several altcoins have been renamed recently (e.g. LimeCoinX [LIMX] is now BitSend [BSD], DogeCoinDark [DOGED] is now Verge [XVG]) and as far as I know no exchange or service had any problems with this, so I believe they won’t have any problems changing the ticker symbol. You only need to contact the exchange/service and provide an official link.

[Nagalim]

You

Or you

[leka]

Or you

It was a generic “you” meaning “whoever is doing this”, not particularly you. I’d be glad to contact the exchanges to have the symbol changed

Is this the motion? [Passed] Motion to introduce new NuBits products

[Nagalim]

You got it! All power to you, we’re behind you.

[jooize]

I think we should be very consistent with what we call our products.

“US-NBT” is established on grounds that make sense to me. If a service doesn’t support the hyphen, then omit it to be “USNBT”.

[leka]

HitBTC team said they would change it. And this is the response from Bittrex:

“The re-branding of a coin causes a large amount of work on our backend and we currently do not change coins tickers for free. In order to change this ticker it would cost 1.5 BTC for the work that goes into this change. A name change can be done very quickly.”

I haven’t heard from the rest yet.

[Sentinelrv]

Wouldn’t it be better to change the symbol once we have our other products up and running first, so that there is actually a reason to differentiate our currencies from one another? At that point we can announce the NBT symbol change to the crypto community, along with the introduction of our new products. The timing doesn’t seem right to change the symbol now. I would prefer if all changes were aligned and announced together in the future. Trying to get exchanges to change now with no real reason to do it yet and without a proper announcement seems like a sloppy way to go about it. I think we need more planning on this, and that requires knowing when our new products will be ready, along with the necessary changes to our website and documentation.

[Nagalim]

Im of the opinion that anyone who will switch for free should be asked to do it now. The motion has passed, that’s the anouncement (on our blockchain, as official as it gets). Im happy to see hitbtc is down. We should get more liquidity there.

Thank you @leka

[Sentinelrv]

The motion has passed, that’s the anouncement (on our blockchain, as official as it gets).

Yes, but not everybody is paying attention to our blockchain like we are. We need to inform users of NuBits as best as we can, to help eliminate the possibility of confusion. What happens when they get on Poloniex the next day and can’t find NBT in the list? If they haven’t been paying attention to our forum then they may think the pair was removed. If we had made an attempt to communicate the change in an announcement that is displayed in various places (Reddit, chat boxes, etc…) then traders may be better informed and know to look for US-NBT instead.

[Nagalim]

Yah, but are you imagining all exchanges simultaneously switching over? Otherwise, isnt this issue inevitable?

[Cybnate]

Besides CCEDK, SouthExchange has also disappeared from http://coinmarketcap.com/currencies/nubits/#markets

Apparently because of using US-NBT instead of USNBT CMC is using. Some coordination would have helped here.

[Cybnate]

CMC responded to my request to look into our missing pairs. However with changing the ticker to USNBT it doesn’t work out as meant to be.

The good news is that I managed to get the BKS pair listed again. The bad news is that the other exchanges are not updated. I’ve sent CMC (Gliss) another message asking to attend to this. Hope this can be sorted soon. Feel free to chime in via other channels. Changing those tickers proves more difficult than expected…