I don't know why you think that, it's just about moving the decimal point, it doesn't change the number system, it would still be the decimal system. And AFAIK the US uses the decimal system for currency too.
For the most part, yes. It's more than rare these days for prices to be expressed in "bits", which is one-eighth of a traditional (not a federal reserve note) dollar. The traditional dollar was one troy ounce of silver. |
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So, as thms said (or rather discovered  ), the base unit is actually a Satoshi and not a BTC (in the code.) I'm really having trouble understanding this concept. Yes, the base unit is satoshi, fine. But the definition of 1 BTC = 100,000,000 satoshis is just set on paper then? Not even on paper. It's just an arbitrary unit that Satoshi decided upon early, because the value of any bitcoin unit would be so small to start with. The transactions hold the value as a 64 bit integer, Satoshi just added a decimal in the middle of the base-10 representation of that 64 bit integer, with 32 bits to either side. Again, that's nowhere in the code or protocol, just something Sathoshi decided upon to make the mental math easier for users. Note, also, that means that there are a lot of unused bits to the big end of that 64 bit integer; which permit a 'flag' to be placed there in the future to denote a 'value shift' allowing sub-satoshi values to be held and transfered as well. Like having addresses that hold normal values, and then other addresses that hold only change/dust values less than a satoshi. So, in the future, even sub-satoshi values would be possible and easy. |
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Using decibits, centibit, millibit or whatever name you come up for something, is not gonna work! How will you make all software wallets, all exchanges, all people agree on a unit??? Impossible!
The only way to do this would be by changing the core and make, for example, the new bitcoin worth 0.001 of the old bitcoin. From the beginning I hear that one of the advantages of bitcoin is that it's programmable money right? So why not take advantage of that?
Technically, the satoshi is the base unit of Bitcoin. There is no decimal point as far as the code is concerned, just an integer variable. The clients can display that integer however you like. That's odd, so you are saying that nowhere in the code the value of 1 bitcoin is set to 100,000,000 satoshis? Correct. There is nothing in the protocol or the running code that requires that the client display the unit in any particular way. The protocol isn't even aware of the Bitcoin unit, in fact. The clients display the units the way they do because the programmers wanted to make the mental math for humans easier. You can shift the decimal point in your own client anytime you like, so long as it's not less than a satoshi. |
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Using decibits, centibit, millibit or whatever name you come up for something, is not gonna work! How will you make all software wallets, all exchanges, all people agree on a unit??? Impossible!
The only way to do this would be by changing the core and make, for example, the new bitcoin worth 0.001 of the old bitcoin. From the beginning I hear that one of the advantages of bitcoin is that it's programmable money right? So why not take advantage of that?
Technically, the satoshi is the base unit of Bitcoin. There is no decimal point as far as the code is concerned, just an integer variable. The clients can display that integer however you like. |
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I doubt that the mass media would stand quite as strongly behind Obama if the repubs take the Senate.
I don't share this viewpoint. I think the media would portray the president as a victim of old white men if the republicans were to hold both halls of congress. Particularly since the articles of impeachment would be filed within a week. |
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Besides, we already have a name for that unit. It's called a gavin for the same reason that the smallest unit is called a satoshi. You can call it whatever you want, but that doesn't mean I'm going to. And those who favor the metric system can call it what they like as well.
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Something that was never together can not start to fall apart. Here is a situation where people predictably follow their personal economic self interest, no different than going into a store and choosing what to buy and how and when. This leaves two options (A) crank up enforcement penalties and force these kids to obey (B) print money to pay for free and subsidized health care (A) is prevented by Republicans, unless an executive order might be tried (B) buys votes Best would be for the Repubs to gain the Senate and interject some sanity into this nonsense, but the money printers will try to prevent that. There's still a lot of money to be squeezed out of the system on the ride down. My crystal ball says more corrupt blatant power moves and more totalitarian fear mongering and crushing of opposition and of dissent, coupled with a strong propaganda campaign, and likely a manufactured crisis or two. Or three. I'm not convinced that the Repubs can be trusted not to participate in the money printing. They have much to gain there as well. |
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BUMP because nothing has changed.
Are we going to move the decimal or what ??
Looks like the market answer is "no". Instead, most clients have moved to an adjustable display with a default of millibits. Market is shooting himself in the foot. Without opening the market to mainstream, Bitcoin will remain an experiment for ever. People are dumb, that's a fact. They think Bitcoin is too expensive and they'll never change their mind. Change the decimal now or it's dead. Wake up people ! Don't assume that you can predict such things. Bill Gates thought the Internet was a fad. |
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BUMP because nothing has changed.
Are we going to move the decimal or what ??
Looks like the market answer is "no". Instead, most clients have moved to an adjustable display with a default of millibits. |
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When was the era of truth you speak of?
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The use of the phrase "running out of other peoples' money" refers to what happens when a country reaches the limit of it's capability to create money from thin air. If the country is on an international monetary standard like the Euro, then it would be borrowing. If it has a national fiat currency, it must print money.
I'm afraid to disappoint you, but that is not what the phrase refers to. Capitalism isn't what you guys believe that it is. Corporations making vast numbers of generic products isn't capitalism in it's original sense, but only in the modern political sense. That kind of capitalism would fit the model of a form of socialism all on it's own. |
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I noticed he uses two spaces after each punctuation symbol.
So? |
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Success in socialism is like any other, dependent on sound business practice. Skill at vote buying does not create a working national health care system. It can be made to work pretty well.
Well, until you run out of other people's money.
True. And we are much closer to runing out of other people's money than the English were when they started down this path, and they were also more inclined to cooperate as a population. And look at them now. Obamacare was screwed even if the rollout wasn't ran by incompetent politicos. |
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I've noticed the hardcore ACA supporters on this thread have had little to nothing to say lately.
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Yeah. For a time, even the county by county list of the "navigators" home addresses were easily accessible. Someone I know personally might have downloaded ALL of them, while I watched. Maybe.
You don't really even want to work for these guys.
This is insane. As if none of the $600M were used for building that website. A free blogger or tumblr account is more secure than the place the law forces you to share all of your family and personal data... In fairness, the insecurity isn't due to the website itself, but due to the interconnectedness that is required between servers owned by government agencies and private insurance companies. It's the interconnectedness that is difficult to manage. To put it simply, the complexity of intergrating hundreds of independently operated servers, running completely different sets of OS's and software, requires a default that favors openness for functionality. It was predicted in advance, that the ACA was impossible to impliment in a secure manner. Quite to the contrary, it was predicted ACA was safe to use and ready to go on day one October 1st... http://www.youtube.com/watch?v=mRxNx1r6DGwI'm sure that it was, but I'm saying that actual Internet security gurus predicted that the complexity involved would lead to secirity concerns, all of which proved true. |
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One problem that I see is the backing issue isn't really solved by linking coins to intellectual property. The problem is that those that have an issue wilth Bitcoin's lack of physical backing as an exchange unit are going to have the same issue with IP. Additionally, different IP has different market values, so coins backed by them wouldn't be fungible all of the time.
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Yeah. For a time, even the county by county list of the "navigators" home addresses were easily accessible. Someone I know personally might have downloaded ALL of them, while I watched. Maybe.
You don't really even want to work for these guys.
This is insane. As if none of the $600M were used for building that website. A free blogger or tumblr account is more secure than the place the law forces you to share all of your family and personal data... In fairness, the insecurity isn't due to the website itself, but due to the interconnectedness that is required between servers owned by government agencies and private insurance companies. It's the interconnectedness that is difficult to manage. To put it simply, the complexity of intergrating hundreds of independently operated servers, running completely different sets of OS's and software, requires a default that favors openness for functionality. It was predicted in advance, that the ACA was impossible to impliment in a secure manner. |
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This is an interesting proposal. Where did you get it?
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Yeah. For a time, even the county by county list of the "navigators" home addresses were easily accessible. Someone I know personally might have downloaded ALL of them, while I watched. Maybe.
You don't really even want to work for these guys.
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You've just screwed the anonimity that you hoped to keep by posting your plan on a publicly viewable web forum. My suggestion is to send these funds in several stages to a bitcoin mixer with the end destination a new address that you create seperate from your main client. Once the required amount has arrived in your single, seperated address; then pay your debt in one lump sum. Mark that address/wallet.dat for what it is, and keep it forever seperate from your main client.
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