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5 votes
Accepted

Problem of colored-coins/assets and other coins with a parent/child relationship of paying for fees with only the parent currency

It's definitely a common problem found in a lot of those platforms that make it easy to create your own colored coin/token. Asking users to acquire the native token, such as Bitcoin with Counterparty ...
T.K's user avatar
  • 281
2 votes

Problem of colored-coins/assets and other coins with a parent/child relationship of paying for fees with only the parent currency

This is a tough one, and I think it's possible to find a solution to it, but it will depend on what your application is and the tradeoffs you're willing to accept. Today: Using Bitcoin, you could ...
Steve Ellis's user avatar
  • 1,072
2 votes

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

Agreeing with all of the above, especially the point about seeing the native tokens in these systems as a form of fuel, rather than purely and simply a currency. Nxt has taken a couple of approaches ...
EvilDave's user avatar
2 votes

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

I noticed that even if I created an account for my customers, they have no way of sending that token back to me when they wish to redeem it as these platforms require their transaction fees be paid in ...
whatever's user avatar
  • 318
2 votes

What makes bitcoin decentralized?

I think you're not understanding what decentralized exactly means. Sure, a company with a large stake can control the price ( up to a certain degree), but this does not mean that they control (the ...
Rutger Versteegden's user avatar
1 vote

Is it possible to create a token on the Bitcoin blockchain?

Many different projects have been started as an attempt to bring tokenization on to Bitcoin such as Taro, Counterparty, and RGB. It is worth noting these are not Bitcoin core standards but are ...
Poseidon's user avatar
  • 653
1 vote

Is it possible to create a token on the Bitcoin blockchain?

BRC-20 tokens are created on the Bitcoin blockchain and don't follow Bitcoin rules for halving and mining. You could think of it as a bit like like writing "IOU €50" on a $1 banknote. The US ...
RedGrittyBrick's user avatar
1 vote
Accepted

What makes bitcoin decentralized?

Say they do. First, in the process, they'd push the price of bitcoins way up. And this is while they're buying. So they'd be buying high -- not a very good strategy. Every bitcoin holder would be ...
David Schwartz's user avatar
1 vote
Accepted

How does bitsquare sell/buy fiat currencies when it is decentralized?

In this situation you are the third party who verifies those deposits are legit. All banking transactions take place directly between the buyer and seller. Bitcoin goes into an on-chain 2of3 multi-...
lastcanal's user avatar
  • 616
1 vote

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

Unfortunately, fees are part of the protocol and cannot be avoided. However, there are some platforms that release users from this burden. For instance, as far as I know, the Colu platform (based on ...
FedFranz's user avatar
  • 652

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