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some solid panic selling into the 350's would seem to be in order.
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full on crash in progress.  |
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I am not sure why we need yet another poll on this. I still hate 'bits' because I (and others) will find it confusing. Others will come in with other seemingly confusing examples to try to prove I can handle it with my big-boy pants. The poll is also strangely worded; in terms of the current exchange rate: which I doubt is finished moving around. One thing I do support is: - 108 Satoshies = 1 BTC
- 100 Satoshies = 1 XBT (ISO 4217 compliant)
That solves the problems with financial software assuming 2 decimal places. It also avoids confusion because the XBT term is not widely used yet. Of course, calling XBT=100 Satoshies "one Bitcoin" would cause confusion. this is interesting, you have some compelling reasoning too.. so you purpose only 1 Fractional Unit 1XBT = 1 / 1,000,000 th of a bitcoin. why X. B. T. tho? why not B. I. T. ? |
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OP was too open ended and all over the place, so i decided to make it more specific. Join in the discussion so we can come up with detailed specifications as to bitcoin's fractional units.
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I prefer 'mills' (mBTC) and 'mikes' (uBTC), as it reuses existing patterns well-known to anyone who has had a need to handle numbers of anything over a range of magnitudes (i.e. the SI system, used nearly universally in other areas of measurement). I may be in the minority. As such, I recognize the need to sit back and let consensus emerge. Trying to force the issue will not be resistant to whatever socially-selected solution eventually emerges.
this is excellent! i have updated OP. I like BITS because it sounds cool. maybe we can have the best of both worlds by renaming these, mills (mBTC) bits (uBTC) Bits sounds professional too. Bits comes out naturally I have a friend i talk to about bitcoin alot, and he started saying things like " hows the bits doing ", long ago. i am all for using Bits as a fractional unit of bitcoin. and i think alot of poeple like it too  |
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I prefer 'mills' (mBTC) and 'mikes' (uBTC), as it reuses existing patterns well-known to anyone who has had a need to handle numbers of anything over a range of magnitudes (i.e. the SI system, used nearly universally in other areas of measurement). I may be in the minority. As such, I recognize the need to sit back and let consensus emerge. Trying to force the issue will not be resistant to whatever socially-selected solution eventually emerges.
this is excellent! i have updated OP. I like BITS because it sounds cool. maybe we can have the best of both worlds by renaming these, mills (mBTC) bits (uBTC) |
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Using the term 'bit' to refer to 1/1000000 of a Bitcoin is by no means a Generally Accepted Concept.
sure it is! blockchain.info and qt wallets both allow you to view your balance in BITS already. Yes, wallets can already 'display balances as BTC and BITS ex. 3.1BTC and 238903BITS'. Get coding.
i only saw wallets that either display in bits or BTC, never both, maybe thats the best approach just throwing an idea out there. Incidentally, the 'official' wallet already has a user-settable option to display in BTC, mBTC, or uBTC.
yes, i see that, and thats good, but what does it default to? when i send a payment and i want to send it in BTC but my Qt or blockchain wallet is set to bits, will i need to go into the setting and then send my BTC payment out and then set it back to bits ? thats a bitch, wallets need to be able to switch from BTC / BITS on the fly, as i am about to make a payment, some sites will quote prices in BTC some in BITS, needs to be fast and easy to switch back and forth when making a payment. I'm not dropping mBTC. You can if you want. I recognize that I have no ability to force your behavior.
As a passing comment, I note that humans already have an issue with 6 decades of dynamic range. Introducing new units to reduce from 8 decades to 6 (i.e. 'Satoshis' to 'uBTC' or 'bit'), without an intervening unit (i.e. 'mBTC'), accomplishes very little.
if we all just leave this up in the air, no standards defined anywhere, let everyone do their own thing, and hope it all sorta works out in the end, its going to get really messy and hard to work with... how do i pay a site that prices things in mBTC when my blockchain wallet doesn't even have a setting for mBTC??? ( if you think its no problem just multiply it by 10 and you get the BTC amount, then your voting that we simply accept the way things are and make due... we can do better -_- ) we need to think about these thing, discuss them, draw out some standards, maybe drop mBTC because it just making things just that much more complicated. |
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This thread will attempt to standardize bitcoin's fractional units, once and for all. The hope is that through community effort we can come up with a set of bitcoin fractional units, and also determine how these units should be used by wallets to display balances, or my merchant sites to display prices.
why is this an issue?
because bitcoin qt says 1,000,000th of a bitcoin is called a "micro-bitcoin", and blockchain.info's wallet says that 1,000,000th of a bitcoin is called a "bit"
and this bugs me.
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this needs to be thought out carefully i think it would be appropriate to have both BTC and BITS anything > 0.1BTC is expressed in BTC anything < 0.1BTC is expressed in BITS or maybe you can display price like 0.2BTC and 1726BITS , kinda like you say 26$ and 75cents, idk.. point is these standards to be though up, layout out clearly, and agreed upon, this is not an easy task. if we can layout out some clear standards, update some key wallets (qt , blockchain, etc..), get some websites to adopt this new way of working ,make some documentation, make some fancy pictures outlining theses standards. this BTC Vs BITS debate might be settled once and for all. its imposible to get all sites to change how they display BTC prices. some use BTC some mBTC some uBTC, no one has a clue what to do so everyone is doing there own thing. this has to stop and we have to figure this out somehow. this threads a start, but there have been 100 like it, all it does is show that everyone wants to see some changes in this aspect of bitcoin, but whats beening done to change it? dose bitcoinstore display prices in BTC or BITS? dose blockchine.info's wallet display balance as 1.3BTC 230579BITS  no! lets make a new thread, lets figure out EXACTLY what we want the change to be and how it will be rolled out, and then lets put extreme pressure to get these sites to implement this new scheme rant over, sry for all the typos, thank you. |
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some chart porn.  may it please our Amphibian? Reptilian? ...GREEN overlord |
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...
is there some significance to this masked green dude?
It is I, your cold-blooded overlord. This isn't even my final form.  ok good to know.  |
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Great! Now I always wondered how this is pronounced? "Sex?" "Kecks?" CeX looking at there logo  i'd say its pronounced (~see X) Ce-X |
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Trust me, we are doing everything in our power to prevent this disaster
is there some significance to this masked green dude? |
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Trust me, we are doing everything in our power to prevent this disaster |
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some think that 11 is an optimistic number : They didn't post a list of the banks that could fail, but they did mention 3 banks from Italy, which worry me a bit because I have an account with unicredit bank which is an Italian bank. but this is just the test, you probably have a few months to get you funds safely into bitcoin.  |
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 Hold on to your butts. |
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lol we arent going anywhere price is rock solid
later mofos
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