kind of agree...

i prefer people to have hardware wallet for life savings in bitcoin (self secured) after all, bitcoin is all about gtting away from th old ways of banking.
a 'bitcoin bank' for daily spend amounts (easier to manage without losing)

but this whol conversation has meandered off course..

bitcoin THE PROTOCOL!!!!!!!!!!!!!! cannot be hacked. fiat bank accounts can.

again im not talking about what users do, hold.. im talking about the system

and the link in my OP proves that banks are not secure, hence not trusting life savings in a bitcoin 'bank'

kind of true due to the satoshi dust limit not allowing for anything smaller...

but there no point naming temporary measures such as micro or 0.0006 when in a few years it will all change.. so this is why the endless discussion of atleast 9 months now has pretty much all agred to the 100satoshi being a nice round figure to name, which will be a long term thing. rather then the temporary stuff inbetweeen 100sat and 1btc

same goes for the fiat side. there are alot of morons that leave their cash and debit cards in full view inside their car. easy to steal
alot of people get pick pocketed every day
card cloning.
diverted mail
work from home scams asking for upfront payments (multilevel (pyramid) schemes)

minus 1

not alot of insight.. only 37 voters so far!!!!!

being a cryptocurrency million is mis-interpretted

to be a "BITCOIN MILLIONAIRE" logically you need atlast 1 million bitcoins.... yes i said logically and ill explain why later

but you can easily and cheaply own millions of altcoins.
find any altcoin selling for less then 10satoshis and you can be a cryptocurrency millionaire because you hold more than 1 million altcoins.

now then, back to logic.

being a cryptocurrency millionaire does not mean that you are a FIAT millionaire.
being a FIAT millionaire does not mean that you are a BITCOIN millionaire.

the chances of you holding 1million bitcoins and being a bitcoin millionaire. are so small you should not even bother hoping to hold 1 million bitcoins.
as for being a USD FIAT millionaire due to the actions of bitcoin.. well 2222 bitcoins last month ($450) would make you a USD FIAT millionaire last month. holding 1724 bitcoins today will make you a USD FIAT millionaire today.

if the bitcoin price rises to $5k then you only need to be holding 200 bitcoins to be a USD FIAT millionaire

now then.. thats USD.. lets think about other countries..
to be a chinese Yuan millionaire today, yes today. you only need to own 275 bitcoins

1. get off this forum if your not into bitcoin (joke)
2. your story is not about bitcoin protocol hacking. your story is about user error. same thing can happen if your brother cut up your bank card, ID and birth certificate.. without other copies of your ID your bank wont give you cash

so you propose to have plastic security boxes per item.

well:
1: the deli counter will have lots of boxes with meat oozing into the boxes, meaning they have to be washed
2: same for the veg section many boxes. meaning that would have to have a box per banana, potato, tomato
3: the freezer section. plastic, electronics dont work well on ice

now lets get into more detail
1: a raspberry Pi per box costs more in maintenance and purchase to fill a store of boxes. then 3 peoples salaries
2: refilling each box and locking it takes more time then just dumping stock on a shelf, costing more salary in labour of shelf fillers then th couple of cashiers they would save
3: if there is no one at the cash desk/exit as it is presumed all stock is paid for then great. ill have this 50c banana oh and i get a free raspberry PI and a secure box to take home with me as there is no one to stop me
4: instead of just picking up a can of baked beans. i have to scan a qr code, open the box, take the tin of beans out and then put it into the trolley. 1 second food choice turns into a 20 second chore.. wait... also the 10minute confirm time before it unlocks
5: i then have to dump the emty box somewhere (unless point 3. i take it with me )
6: i am now at the exit and have to start bagging up my stuff in view of a security guard to make sure i dont do point 3.
7: staff then dont only have to take stacks of baskets away from the cashier desk, but a whole stack of security boxes too.


honestly id rather take my items that were never security boxed to a cashiers desk and pay in one go. an idea such as the OP proposes would work for parking meters, newspaper vending machines but individual payments in a multi-product scenario is not time efficient nor is it cheaper. (imagine the 20 items in your trolley. that's 20 TX fee's if your hoping to get to your car on time)

seems the OP has not worked in retail or hasnt put his idea into a 'working scenario' (feasibility study)

what would work is a food vending machine. where instead of typing in E7 for a bottle of pepsi. you scan the QR code that represents E7 and the vending machine monitors the 30 qr codes (1 per product type) and spins the coil to make the product fall into the collection bin at the bottom, when it receives a payment

OP is shouting get off the beach before the tsunami...........

...... im grabbing my surfboard and ready to ride this massive wave

cowabunga!!

ill leave you to watch from the dry shores of the cliff edge

http://www.youtube.com/watch?v=dtVQJCq2cCM

your only a bitcoin millionaire if you have a million bitcoins.

otherwise selling 100 coins at $10k in the future makes you a FIAT millionaire..

.. think about it logically

cant think logically?

how about this. by calling yourself a 'bitcoin' millionaire based on a value of FIAT you receive from selling bitcoin... makes you dumb

you might aswell hold $170k and call yourself a dollar millionaire based on the value of yuan you receive from selling dollar
you might aswell hold £100k can call yourself a pound millionaire based on the value of yuan yo receive from selling pounds

why treat this negatively guys.. please see beyond the fog of propaganda.

1. by declaring it 'money' (legal tender) that means automatically declaring the Euro dead. so no judge would declare it money in their jurisdiction.. get over it and accept it
2. by NOT declaring it money, means that there is no need for money transmission licences for handling bitcoins.. positive
3. by NOT declaring it money, means that regulators wont chase after you. as its not a financial crime to touch bitcoin. instead scammers / illicit websites / dodgy exchanges that steal bitcoin will be treated as thieves, not fraudsters. which is easier for police to handle instead of hoping for regulators to deal with.
think about this. someone steals Eur500 from you. the police cannot do much as you have little evidence and financial crimes cause police more hassle and paperwork so less desire to get involved. now imagine someone stole a TV, its easier to find evidence and get the theif arrested. a TV is an asset, just like bitcoin. getting someone arrested for bitcoin thefts will be easier then euro thefts.


so treat this as positive news that euro regulators have no jurisdiction to control or licence bitcoin. but police can still pursue thefts.

stop sniffing the lead paint, glue and other household items that poison your brain. banks in so called communist countries are saying they do not want to be directly linked to bitcoins and they (the centralized banks) should not hold or hoard bitcoins for the centralized banks own portfolio.

there is nothing stopping individual people doing as they please. but 'communist banks' are NOT hoarding hoards of bitcoins. 'communist banks' are NOT running server farms of mining asics

meaning communist banks are not controlling bitcoin.

its not about first mover at all.

its about utility.

show me 30,000+ businesses that accept dog or nxt.
show me atleast 2 dozen places to swap altcoins for fiat
show me a altcoin forum that has more posts and discussions then this forum

show me games that are not copy and paste jobs (EG dragons tales) that accept altcoins
show me proper large scale use of an altcoin.......

bitcoin is NOT expensive, its altcoins that are too chap and/or worthless

your trying to meander the conversation off topic and has no relevance to what i just said... so lets bring you back into focus

the ISO denomination for bitcoin once officially registered (i dont think its official just yet) will be XBT which by the time the common measurement debate is over, xbt would be used on official institutional forex/stocks exchanges as the measure of either 100satoshi or 100,000,000 satoshi

but this topic is talking about common man (slang)

analogy
much like we are not talking about GBP or USD. we are talking about bucks quids.

or a better analogy
we are not talking about XAU (oz of gold). we are talking about bars, ingots, coins and dust

i do love your detective work P.G

but i still think that Autumn committed suicide as she was being blamed for losing alot of investor money due to bad decisions. as we all know that fin shaggy is a money grabbing scammer(totally unrelated to brock/first meta), that if autumn was following him, it shows her naive nature to trust scamming assholes, lead to a decision to commit suicide.

i do not think that anyone ordered a hit on her. but i do think that committing suicide due to trusting assholes, played more of a logical part in the incident.
as we know:
1. she followed brock pierce. the number 1 asshole
2. she followed finshaggy, less of an asshole but still an asshole. so it still goes to show she trusted the wrong people
3. no one would commit suicide over just knowing a asshole. but making a huge financial mistake due to assholes.. now thats more logical

i believe she lost alot of first meta investment in the mtgox affair and was left with all the blame due to asshole partner of her denying any ties to the funds

your link proves that this debate has been going on for 9 months now.
we have gone through:
1. polls talking about top down. (starting from 1bitcoin and then having names for divisible's)
2. polls talking about bottom up. (starting from 1satoshi and then having names for multiples)
3. polls to actually name both medium points of top down and bottom up
4. polls to debate, should 1bitcoin actually be 100satoshi to bring billions more "bitcoins" into existance
5. polls that relaunch th debate of points 1-4.

and after all of that these are the decisions that seem most popular if you collate the data together

1. bitcoin in a few years will be so expensive that it will be common place and easier to manage 100satoshi amounts rather then 100million satoshi amounts day to day
2. common man prefers bottom-up, where they only have to deal with 100 decimals and a multitude of whole numbers.
3. that people prefer to keep the name bitcoin for 100,000,000 satoshis and not to 'cheapen' bitcoin to being worth only pennies. to instead give a different name to 100 satoshi's
4. that the term xbt should be reserved for formal forex/stock exchanges much like how USD/GBP is, and a common name should also be given such as where USD=dollar, bucks. GBP=pound, quid.

and this topics poll is the biggest amount of votes in 1 poll that after all the 9 months of debating shows well over 70% of over 500 voters are agreeing that 100satoshi should be the bases of common man useage.

so can we please not open any more polls that are simple repeat polls of the last 9 months. and only opn new polls if:
1. there are NEW!!!! insiring idea's worthy of mentioning.
2. that the new polls do not ignore previous winning vote idea's out of biased.
3. that the lame brains of new polls dont bitch that their poll is better unless it has over 500 voters.

which i hope means that unless something big and radical changes in the mindset of atleast 500 voters.. then this topics poll should be the deciding and end result of the 9 month debate.

analogy
there is no point rehashing the same block (argument) over and over again if its already been solved... move on and accept the solution provided

+1

although like many things there is the common name AND ISO name, so its not about naming..
EG
common: dollar/bucks/$ ISO: USD
common: pound/quid/£ ISO: GBP
common: bitcoin/bit/sat ISO: XBT (well not officially an iso last i checked)

so its not really about reliving last months drama about 'bit'. instead its about do we keep XBT as a whole bitcoin or 100satoshi for the official ISO measurement of bitcoin when it really gets involved with the proper institutional markets.

but as Ron~Popeil pointed out, it is a bit of a non issue due to the fact that the regulators in control of ISO registration and the forex/stock markets have the true control over what measurement is attributed to XBT.

now i come to think of it.

the ATM theives done the world a favour.

banks now have to print more bank notes, which offsets the balance.. which technically means that the amount of bank notes and bank customer account balances is higher compared to the bond debt..

so in theory.. the theft has helped reduce the bond debt by increasing bank note circulation and bank balances without increasing any bond debt.

FIAT still got stolen from source ( bank database ) - cost, millions on security.
no one can steal bitcoins directly from the bitcoin protocol ( blockchain ) - cost, nothing

separate type of theft:
pick pocketing does happen alot every day
bitcoin scams and trojans happens alot every day but not to the extent of total world crimes of back pocket wallet theft

and as for personal security. paper wallet.. costs just the price of ink and a few minutes work. no armd guards, auditors checking for loses, no managers, no bullet proof vests, no bullet proof money trucks, no timelocked vaults, no institutional oversight committees like fincen SEC.

just one man, a piece of paper and a printer.

the real question..

why are altcoins so cheap, worthless and dont hold value for long

hackers love bitcoin and store their wealth and do transactions in bitcoin because they know, not even them can manipulate the code.

yet the FIAT system can be hacked and have balances adjusted.

which do you think is more secure.

if you chose FIAT. read this:
http://buzzblips.com/global-gang-of-hackers-steals-45-million-from-atms-in-12-hours/

if you hold bitcoin on your PC and FIAT in your bank. which are you more worried about being manipulated, now you read the news article.