...but it makes me wonder what kind of changes Gavin and his team are going to implement, once we start hearing about a fixed rate of inflation patch and stuff that will be when Bitcoin Gavin and his team are doomed.
FTFY They cannot really implement any changes without the general consensus. Even the proposed hard-fork resolving max block size and blockchain size issues (so something that vast majority agree with) won't be an easy thing to do. Fixed rate inflation idea is unrealistic atm, it can happen if it's 100% proven that the tx fees are not sufficient to keep the network running, but that probably won't happen during our lifetimes. Time will tell. |
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What do you have to do to get autoban? Spam? Multiple accounts? Don't see any info on Meta or anywhere... |
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It is not surprising that these entities oppose the proposed NY regulations, although I doubt they really understand the actual regulations. The proposed regulations would not require companies to identify customers unless they are giving fiat to customers in exchange for their bitcoin or giving customers bitcoin in exchange for their fiat (in other words exchanges).
You clearly didn't read the proposed regulations, did you? Coz that's exactly what they do require + other restrictions. Unless there's a newer draft of which I'm not aware of. @Cryptowatch.com - I don't shy away from wordy posts, but there are limits. TL;DR |
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Looks like specifically it is talking about goldcoin. What is this doing here in the bitcoin discussion thread
Just the OP's lousy attempt to promote his coin on the main forum. For the record, P Byrne has nothing to do with GLD. |
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But if that happens, that will be a time to shine for bitcoin.
A time to shine? More like competition. Bitcoin is like digital cash. If there's no physical money and you can only pay with credit card or payment systems connected to your bank account (so fully traceable), then demand for bitcoin could be huge. It could be main (if not the only) way to make/accept payments for those without bank account, those who don't want to fully rely on their bankers and those who want their financial activity to remain anonymous (for whatever reason). |
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...it wouldnt surprise to find out that the material to mint coins are worth more than the value they represent too.
Correct. Take Poland for example, cost of material (not even including production cost) to mint 1 'grosz' (PLN 0.01) was around 3g. On the subject - I don't think any country can currently totally abandoned physical cash anytime soon. They would have to make sure that absolutely everyone have access to banking services, that includes minors, homeless, fresh immigrants (both legal and illegal) and tourists (their credit cards may not be accepted in other countries. But if that happens, that will be a time to shine for bitcoin. |
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Can we get two currency codes? Doubtful, but is worth discussing.
If we can get two currency codes, that would be excellent. However, the standards people would want to see them alphabetically contiguous, so XBT:XBU could fly, but XBI:XBT is improbable. Don't think two ISO codes are possible. After all, it's the same currency. |
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http://rt.com/op-edge/198060-denmark-electronic-money-cash-banks/Denmark’s Central Bank Nationalbanken plans to stop printing banknotes and minting coins by the end of 2016. It claims that people increasingly prefer to use credit cards and electronic money in transactions rather than cash. Physical cash may disappear sooner than expected, although in the above case Denmark will probably just significantly reduce cash money and outsource printing/minting of notes and coins.
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I'm on the working group. There are lots of options for units to go with an ISO 4217 currency code. Would XBT = 100M satoshis (1 bitcoin) be better than XBI = 100 satoshis (1 bit)?
If XBT = 1 bitcoin, I don't foresee people writing 0.00098 XBT to describe the cost of bubblegum. People _might_ write 980 XBI though.
I think we need more community input on this choice. Can we get two currency codes? Doubtful, but is worth discussing.
What's actually wrong with XBT=1BTC (100m sats), since we could popularise usage of millibitcoin ( BTC0.001)? It's easier to comprehend by average Joe, since it's closer in value to $1. So the chewing gum would be m BTC0.98, which looks better than 0.00098 or 980. With XBT=100 sat, the brand/name of "bitcoin" would suffer a serious blow. If all the major players start using terms "XBT" or "bits", there would be no practical use for "Bitcoin". In terms of brand awareness, we would have to start from scratch. Loads of people worldwide heard of 'bitcoin' (even if they don't fully realise what it is), if the name is changed (and also the exchange rate etc) they probably wouldn't even know that XBT (bit) and Bitcoin relate to the same thing. |
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 yes , gavin is right , if we want more ppl use bitcoin , the unit(1 bitcoin) might be too large for normal users . satoshi (10^-8) is too small , so changing to bits sounds a good idea . Are you sarcastic or do you really think, that 1 bit=0.00038183 USD is better than 1 Satoshi=0.0000038183 respectively 1 USD= 2,618.97 bits is better than 1 USD= 261,897 Satoshi? Agree. If the goal is to make bitcoin easier for the masses to use it (especially new people), than 'bit' doesn't really do the trick. More intuitive would be something close (in value) to $1, therefore 1mBTC ( BTC0.001) makes more sense. |
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There are voices who opt for "Bits" instead of "uBTC". If "XBT" stands for Bits and not Bitcoin, it makes sense and could make bitcoin more user friendly.
I'm against denominating bitcoin (when XBT=Bitcoin=100 satoshi), but the above could work. From the quoted article: ...
These existing minor units of bitcoin will be submitted in the ISO application for XBT and it is not required for all of the individual minor units to be submitted.
... So if XBT is registered as 'Bit', 'Bitcoin' could be submitted as 'major unit' and 'satoshi' as 'minor unit'. That's pretty important, otherwise it would be very strange if the word 'Bitcoin' was not mentioned anywhere in the application. But still think it could cause unnecessary confusion. After all, if XBT=Bitcoin, it's not really stopping anyone from using 'millibits' or 'bits'. |
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You people do realise that you can put your referral link in your sigs? Looks like most of you didn't.
Referral Link: Fortunejack referral links are allowed so that you can earn more. To learn more about our referral program and find a link please register on FortuneJack and visit Promotions Page.
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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
OK, the last example didn't really made my point, whether it's XBT25000 or XBT0.025 it shouldn't be too hard to comprehend for anyone. My point was, too many digits will cause confusion, whether it's right or left side of decimal. You idea offers some improvement, as it's slightly easier to deal with larger numbers than smaller fractions, but it would only work if we assume that everyone will instantly and happily switch to the new system. But we know that's not gonna happen. So if we were to go that route, we would divide in 2 groups, one using the old (current) system and other -the new one. Total chaos. So, as I said before, I do see your point, but it will likely do more bad than good. |
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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? |
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Some time ago I emailed the Gaming Commission (UK), asked simple question: Whether gambling websites that only accept crypto-currencies, such as bitcoin, are subject to the gambling regulations/licences. Below is the reply I got. No surprise here. Thank you for your email regarding crypto-currencies such a s Bitcoin.
The Gambling Act 2005 (the Act) talks about ‘money or money’s worth’ so there is no specific regulation regarding bitcoin or any other similar peer-to-peer payment system or digital currency contained in the Act.
However, the point that I feel I should bring to your attention is that of payments. We normally ask who will be providing the merchant services for our applicants and then check that they are registered with the FCA (for UK based businesses) If you are not using a merchant to process the payments then you would need to demonstrate to the Commission that whatever method you use would enable you to conform to the KYC (Know Your Customer) AML (Anti Money Laundering) and POCA (Proceeds of Crime Act) requirements contained in the Licence Conditions and Codes of Practice (LCCP).
Those applying for remote licences should also be aware of the Remote gambling and software technical standards ( RTS ) and again, should be able to demonstrate how their website will conform. In assessing applications, conformity to the provisions contained in these two documents is an important consideration.
We hope this clarifies your query. |
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 ANC back where it belongs, at 52nd place. Nothing to see here. Moving on. |
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It's not a pump. Its an error with the data CMC is being fed.
So you're saying I shouldn't have invested all my savings in ANC?  Probably not an 'error' per se, more like someone bought a small amount at ridiculous price at one of the exchanges, so it's rather flawed method of collecting data by CMC. Shows how 'valuable' market cap stats can be. |
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Don't know what happen but this Anoncoin pump looks impressive. Don't think it will stay at 2nd for more than 1 hour.  |
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266 now
You should also post this on reddit (if you already haven't), that should speed the things up. |
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hopefully it won't, but if it does, I will buy some at 40 ~30. I'll buy some too in November, don't really care what the price will be. Next halving will come in line with DOGE's 1st birthday, 8th Dec, so there will be some hype along with the usual pre-halving pump. Can't wait. |
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