The market dosen't need paypal. If an instrument is obsolete, it will be abandoned.
But there's a pro in paypal behaviour: a buyer will preferably buy were he's best protected from scams. Frequent scams are why people don't like to buy on an unknown/untrusted website, even with fiat and paypal, and this is a big problem for small indipendent sellers. This is a huge problem with btc too, as escrow is too complicated for the average user to use
Yes, but what happens when the scammer is the one buying? Honest sellers are screwed with this model. |
|
|
|
You want to discuss the contradiction? Then discuss the contradiction. The original post talks about proposing XBT = microbitcoin, which is irrelevant in what Matonis said.
This is funny, because this was what was in the original post: Conclusion: What Mr. Matonis has released on 10/21 is in clear contradiction with the prior Press-release of the Bitcoin Foundation. OK. First, he says that Bitcoin = Bitcoin so that we don't cause confusion. Then, he says that 8 decimal places are still confusing for common people, and that the working group will recommend Bitcoin subunits. I don't see how that's a contradiction. He still wants to maintain Bitcoin as the main currency, just not use the 8 decimal places as the common subunit. We still get to name it, but try not to pick a confusing name. Why is that so hard? |
|
|
|
No, it does not, apart from maybe for 1-10 thou people.
Regardless whether we agree or not, Matonis opinion contradicts his own Foundation press release that I quoted-this is crystal clear.
What gives?
You want to discuss the contradiction? Then discuss the contradiction. The original post talks about proposing XBT = microbitcoin, which is irrelevant in what Matonis said. |
|
|
|
Non-mathematicians have difficulty picturing sums like 0.00014321 BTC, which would be 143.21 XBT if XBT=100 satoshi(s)
The transition would be even more seamless because people already started thinking in bits. If 1XBT=1bit=100 satoshi, it would all make sense.
I see your point, but agree with R2D221 and Jon Matonis. Don't know whether 'catastrophic' is the right word, but it would create too much confusion. As per your example, from the small/medium business or even customer's perspective, you'll be more likely dealing with amounts ranging say between BTC0.01 to BTC100 rather than BTC0.00014321. A few examples: BTC99.15 = XBT99150000 BTC1.456 = XBT1456000 BTC0.025 = XBT25000 To me, that doesn't look much better than 0.00014321, does it? Why would it be a problem? right now yen is ~1:100 of the dollar, so I presume movie ticket cost 1000-2000 yen, so btc 0.025 ($10)=25000 XBT would be no problem. people will just say "thou"-in your last example-25 thou or 25k bits The problem is not scale, but terminology. XBT already has a defined meaning (= Bitcoin). You want to change the meaning of a symbol people already understand. You're going to have a bad time convincing them to arbitrarily switch the meaning rather than creating a new symbol. |
|
|
|
One bitcoin on the block chain must equal one bitcoin in the formal standards world or else processing errors would be potentially catastrophic.
I agree with this. People already use XBT to mean Bitcoin (because they rightly thought BTC was not a standard name). If you tell them to change the definition to XBT = 1 microbitcoin, then confusion will inevitably arise. The fact that current accounting software can't handle more that 2 decimal places means that this software must adapt to our needs (and use µXBT in the meantime, if it's much trouble). People should not adapt to the software. That's not how it works. |
|
|
|
|
I think that for this idea to be effectively implemented, it should be done in a dedicated room, so that we don't start confusing TV smells from real-life smells.
|
|
|
|
30-100 scents that can be combined to make any smell
Do you have any scientific research to back up this claim? Also, this should be on Off-topic. This section is for Bitcoin-specific projects. |
|
|
|
You defeated me. You win. I have nothing more to comment. All hail 10111111.
Don't feel defeated, you're welcome to join the the winning team ;-) Sarcastic comment was sarcastic. |
|
|
|
|
You defeated me. You win. I have nothing more to comment. All hail 10111111.
|
|
|
|
|
You link to another thread I'm also active in. Nobody talked about ISO there. What's your point?
|
|
|
|
Also just using satoshis isn't an option. It needs to have two decimals like nearly every other currency on the planet.
Why? Is there an ISO standard that states that all currencies must be specified as having 2 and only 2 decimal places? |
|
|
|
I've recently found a thread that reads something like this: ███ Why Bitcoin Exists ███
all with the annoying black boxes. It's obviously done to call for attention, but it certainly does so negatively. Can I report these kind of titles? Or should I just deal with it and move on? It's not the first one I see here. |
|
|
|
I've been in the crypto space for some quite some time and I honestly must say I have seen many many coins come and go. Some are very innovative and even have fair distribution, but they still do not catch on due to many factors. It's really the active developers creating the truly innovative stuff that stands out at the end.
Bitcoin will always be the gold in my eyes and i'm sure everyone else as its what everyone knows about. Given a few more years we'll see that there will be a few main coins competing for the 2nd, 3rd, and 4th place marketcap coins. I believe NXT will be in one of these competing coins.
It's pretty mind boggling what nxt has built so far while it gets all the trolling it does. I too was trolling on nxt in the beginning as I thought it was just all talk about what they wanted to do and the fact that only 75 people initially started it out. But overtime I just don't care about the distribution anymore, because if NXT keeps at this pace and keeps on building out this feature set, people will just come for the features and not the coin itself. A very good analogy that someone mentioned is, poker. There are gamblers out there that want to play poker, they dont care what currency it is, because at the end of the day they will just cash it back out to USD or BTC.
I don't care about the NXT coin itself, I'm just with NXT on the features they have developed so far.
It's quite crazy that NXT has the first production ready decentralized marketplace while open bazaar is just still in testing.
I agree that you can recognize that other coins have innovative features, but people also need to understand that they are not Bitcoin. They may be better than Bitcoin, but (or actually, thanks to that very reason) they are not Bitcoin. |
|
|
|
In the bitcoin context, the 'SI purists" insist on the decimal point staying where it is, forcing everyone to deal with currency to 8 decimal places, making daily mental arithmetic impractical.
The 'bits' advocates want the decimal place moved 6 places right to a more standardised currency convention and format, it works better with financial software, and more importantly it better suits how our brains have evolved in dealing with 'counting numbers', it helps bridge bitcoins usability chasm. Having moved the decimal place, SI can operate as per normal. It's still a decimal system. It still has a decimal place.
Not only that but behind the user-interface level, the 'SI purists' can talk to each other in micro or milli all day long if they wish, so they have nothing to lose, and everything to gain.
You do realize that if I talk about “100 mBTC” I've effectively MOVED the decimal place, right? Do you really think I would pronounce this “Oh point oh oh oh one bitcoins” when it clearly can be read “One hundred mikes”? (using “mike” as an abbreviation because obviously the word “microbitcoins” is too long) |
|
|
|
Wouldn't vBulletin be better?
I think his point is that this forum is powered by SMF Just remember that next year BitcoinTalk will be using a new forum, so the relationship with SMF will be over. |
|
|
|
It doesn't help the SI purists who insist we all do mental arithmetic to 8 decimal places, but I am sure their days are 'numbered'.
The fact that the whole world except the US (and a few other countries) use the SI system surely means their days are numbered. Totally. Like, why aren't we all reversing to the Imperial system right now? |
|
|
|
I am sorry if my words are confusing, I just wanted to get a feedback on the functionality proposed and it is all of the benefit of anyone using bitcoins.
Yes, you are right , I am on alternative blockchain, therefore separated from bitcoin and I would like to create a "bridge" so bitcoiner can benefit of it.
Well, as far as I know, these alternative blockchain technologies are not that useful to the Bitcoin community (I just want to spend my bitcoins, you know). Speaking of alternative blockchain, Ethereum will have it's own blockchain, separate from Bitcoin ,yet it is considered a Bitcoin 2.0 technology...what I am trying to say is that this is really new and people do have different point of views...
Still, no. Ethereum is Ethereum. It's not Bitcoin 2.0 in any sense. |
|
|
|
|
You should include an index or some kind of navigation on the main page.
|
|
|
|
You can use mailinator.com, but you need to know anyone can read any mail that goes in there, in case you need a password reset. |
|
|
|
I don't think “Bitcoin 2.0” means what you think it means.
extra features and technology on the blockchain? Yeah, that's NOT Bitcoin 2.0. That's just technology built on top of Bitcoin, but not Bitcoin itself. Bitcoin is currently at version 0.9.3 (Bitcoin Core, the reference client). |
|
|
|
|
Show Posts
