Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin)

Bitcoin Tangible Trust, if you want to issue an asset for a fully-redeemable silver coin that costs you, say, $20 to buy and put into custody? How does a 5 XCP asset issuance fee effect the end price that you need to charge a customer to buy this silver coin?

EDIT: OK, I just did the math. 5 XCP = $32 @ 0.01 BTC/XCP and $640 BTC/USD. So, basically at 5 XCP issuance fee you would need to charge $52 for a silver coin that otherwise could be purchased from a coin dealer for $20. So, yes, from my basic analysis, this seems like a blockage, at least for BTT's business model anyways.

EDIT: Porqupine, maybe you see / understand something that I am missing? Can you please elaborate? Interested to better understand your perspective, as you always have such good postings on this list.

The asset issuance fee is a one time fee - you can issue Silvercoin quantity=100 or =1000 or however many you like.

Correct. You should definitely not issue a new asset for each silver coin.

Actually Phantom a small correction:

We need full flexibility to issue 1 new Asset name for each Silver/Gold/Whatever physical asset if needs arise from our customers either at issuance or redemption.

At BitcoinTangible Trust, we have absolutely ZERO interest in vanity names as our business model intends to globally scale to millions of coins. If you check our asset listing you can view them here: http://bitcointangibletrust.com/assets/ you will notice we have a naming convention that allows us to create catalog-driven names that are unique to our business. Name squatting is of little worry for us as our namespace is large. However, we are grateful to receive relief from asset issuance costs.