1. necom

    necom Administrator Staff Member MC Developer

    It's time we get the discussion going about what the 3-letter code will be to identify MicroCash units of digital... stuff.

    For now, I'll open up the thread with the current front-runners we've been using for weeks (and sometimes years), but please chime in with any suggestions you have for alternatives. I think we'll roll this thread along for a while and then maybe put up a poll after we've ripened some options.

    Current internally-used ideas (with some notes/initial reasoning that I can think of):
    • MCD
      • This is the longest-running code (is "code" the word that works for these?..whatevs..). It is meant to stand for "MicroCash Dollars".
      • Pros/reasoning:
        • "Dollars" starts to really indicate the usage of this thing (MC) as a currency, IMO. The word Dollar is used in a lot of currencies in the world and it is a pretty obvious choice -- nevermind the fact that MCD is the oldest code used for MC, I think. If there's something better, let's hear it!
        • "I think it is better to 'pretend' that MicroCash is a country like we define countries currently. What do we call the units of currency in this pretend MicroCash country? Dollars. Why? Because the default global currency is already called that and it makes a direct relationship obvious to users. MicroCash dollars does sound strange, but I think it isn't so strange that it can never be accepted." -- RS
      • Cons:
        • ...not sure, really. You tell us!
        • "The downside to tying to dollars is that most users who first get into MicroCash will likely be doing it to make money/profit off it. ie Buying at point A (launch) and selling at point B (some time after launch). As much as we can pretend other things, this is what I know from my years involved in this industry. So an obvious, direct relationship to USD may hamper some initial 'enthusiasm' for MicroCash. Whether or not we should care about such things I will leave for another discussion." -- RS
    • MCX
      • This has been a part of the old work done for an exchange centered around MicroCash, going back a few years. It was an abbreviation for "MicroCash Exchange" and found usage on RS's exchange when it launched, but ended up being more known for its designation/abbreviation of that exchange and not the MicroCash currency itself, since MC never made its way onto the thing before it shut down. Still though, current development work has used the code for the file extension of the data files (filename.mcx) and it seems to linger as an option for the official code of the whole kaboodle. ("kaboodle" is a word, dammit.)
      • Pros:
        • To me, the "X" can be relevant as the word "exchange" still, which may work since MicroCash is really a means of exchanging currency, as well as the currency itself. It's a network as well as a thing of exchange... heady, I know. But I thought it so I wrote it.
        • X is sexy?
        • ??
      • Cons:
        • Ties to mcxnow? Is this a con or does anyone care?
        • ??
    • XMC
      • This hasn't gotten much traction since it's maybe awkward to say/pronounce as a "word". However, there's some good reasoning for it that goes roughly like this:
      • Pros:
        • This code actually fits well as a "legitimate"(?) code that follows the ISO 4217 standard for "X currency" designations. TL;DR:
          • Country currencies are constructed with the 2-letter country code followed by the first letter of the currency's name: USD = US + D (for dollar); JPY = JP (Japan) + Y (yen); etc.
          • For non country-based currencies, an "X" designation is assigned. For commodities like gold, for instance, the X is appended with the chemical symbol of the precious metal, as in: XAU = X + AU (Au is gold); XAG = X + AG (Ag is silver); etc.
          • So, MicroCash is "currency-like and non-national", thus:
            XMC = X + MC (for MicroCash, duh)
        • I haven't been able to find anything using the XMC code in anything crypto-currencies, or in any other place in the AFK world over the past couple years I've been thinking about this code. If we like it, let's snag it.
      • Cons:
        • Doesn't flow off the tongue quite as nicely with the "X" first. In English, anyway. Two hard consonants next to each other isn't quite fluid to spell out... maybe.
        • ??
    OK, there's what we have so far. Please let us know what you like/dislike about these options and if you have better ideas, let's talk about 'em.

    Edits:
    - Added RealSolid's notes inline in MCD section for new new readers.
     
    Last edited: Feb 14, 2016
  2. fellow

    fellow Member

    I like XMC most.
    MCD could be used directly at launch as "integrated" sidechain which demonstrates the abilities of XMC ;-)
     
  3. enagi

    enagi New Member

    If I have to pick a 3-letter code, I'd suggest MCH as all the 3 letters are part of MicroCasH.
    Personally, I prefer the 2-letter code MC
     
  4. necom

    necom Administrator Staff Member MC Developer

    I'm still needing to do some research about the difference (if any) between what would be a currency designation code (the 3-letter code that may/may not follow ISO stuff), and any official exchange "trade symbol", which maybe is accepted to be different?

    My thoughts here are that an amount of the actual currency could be e.g. "20 MCD" but that wouldn't necessarily mean the trade symbol on exchanges needs to be "MCD". That could maybe be "MCASH", for instance, as trade symbols are frequently different. Thing is, maybe they're different because nobody really knows/cares what the heck they're doing in the crypto space and not for any real reason? I sure don't know yet.

    Also, something like "MC" could work, except it's a little odd to me since I think a bulk collection of money is "cash", but a defined amount isn't "20 cashes", it's "20 dollars of cash". Eh? Maybe too heady again?
     
  5. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    Rationale behind dollars from my perspective.

    I think it is better to "pretend" that MicroCash is a country like we define countries currently. What do we call the units of currency in this pretend MicroCash country? Dollars. Why? Because the default global currency is already called that and it makes a direct relationship obvious to users. MicroCash dollars does sound strange, but I think it isn't so strange that it can never be accepted.

    The downside to tying to dollars is that most users who first get into MicroCash will likely be doing it to make money/profit off it. ie Buying at point A (launch) and selling at point B (some time after launch). As much as we can pretend other things, this is what I know from my years involved in this industry. So an obvious, direct relationship to USD may hamper some initial "enthusiasm" for MicroCash. Whether or not we should care about such things I will leave for another discussion.
     
  6. manny hammers

    manny hammers New Member

    I like XMC, years of watching forex may have biased me toward the x codes for currencies
     
  7. GielBier

    GielBier Moderator Staff Member

    I'm for XMC . (Sounds better then MCD). (McDonalds anyone??)
    Only thing against it i can think of:

    The Cessna XMC was a prototype technology demonstrator designed to show advanced aerodynamics and materials.
    The marketing name of XMC stood for "Experimental Magic Carpet" and the single test aircraft was designated Cessna 1014 and later 1034.
     
  8. ziggy

    ziggy New Member

    MCX has nice ring to it but how about MCU- microcash units
     
  9. cluck

    cluck New Member

    my vote for XMC as it is better in line with the ISO naming standards
     
  10. MrCrazy

    MrCrazy New Member

    I am leaning towards XMC as well, MCX should definitely be taken into consideration though.

    and I agree 100% gielbier, MCD seems like it would just be a parody if that was chosen.
     
  11. pineapples

    pineapples Member

    MCD has unfortunate macdonalds relationship but is quite nice. I felt strongly against it, but now am quite calm with it :D

    As far as the X goes, XBTC is not the norm, so XMCD is not that problematic?

    There are few crypto-currencies doing teh X thing,
    What is the advantageous to integrate it initially into the ticker?
     
  12. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    I don't really know why some people are big on the X prefix . In the end it is quite a subjective thing in regards to whatever we use. I like MCD simply because it emulates the look of USD but in our own way. MSD?
     
  13. pineapples

    pineapples Member

    until MicroSoftDollars comes along ...
     

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