Hi all,

New to mastercoin here, but is there any progress towards setting up an exchange for this stuff? I'm a developer who would be interested in building this as a project if there is enough demand for it.

Funding an account with an exchange, or directly sending payment for transactions: which would you prefer?

With fiat currency, its a no-brainer, especially if you intend to trade in and out, since bank transfers take so long, but what about from the bitcoin side? Would you prefer to directly send btc from your wallet to the market for fiat currency, or transfer it to the exchange's wallet first, and then trading with the market?

Curious to hear what everyone's preference is.

Because using large numbers is unwieldy. Imagine trying to buy a bag of chips worth 50 cents. In whole bitcoins that would be .0005 BTC. To speak the words "point zero zero zero five bitcoins" is awkward and can cause confusion over decimal places, especially if BTC goes up another order of 10 or more.

The psychological value of switching to milliBitcoins is more than worth it, especially if the endgoal is to someday use BTC as a viable alternative to fiat currencies.

I suppose the first breakthrough in mass adoption would come if an exchange were to suddenly start listing its bid/ask in terms of millibitcoins instead of a full bitcoin. Anyone have the inside scoop on what their stance is on that?

How have the efforts been going? It does not seem yet to me that the term "millibitcoin" has caught on yet.

 Are there any worthwhile ideas how to reach mass adoption?

If the end goal for bitcoin is for it to eventually mature into a viable alternative currency, the price of products should be easy to understand in bitcoin terms. As it stands, if I were to ask for the price of a cup of coffee in bitcoins, it would come down to something like .003 bitcoins, which is a bit unwieldy to say or understand.

It's simply a naming convention, but I think it is important that we denominate bitcoins in a way that is easy for everyone to understand. With the price of bitcoin closing in on $1000, this seems to be the perfect opportunity to refer to 1/1000th of a bitcoin as the standard unit. The standard name for 1/1000 BTC seems to be "milli-Bitcoin", but this sounds also a bit unwieldy to say. How about "Millibit"?

This redenominating can only happen if enough people adopt it for it to catch on so please if you agree with me, start thinking and talking in terms of millibits!

Any thoughts?

This may have come up before, but are there any fundamental reasons why the price on Mt Gox (currently $880) is so much higher than the price on Bitstamp (currently $830)? Its a fairly obvious arbitrage, I'm surprised this gap is persisting for so long. Anyone shed any color?

I'm thinking of making a bitcoin prediction market similar to intrade. Would anyone be interested in a service like this? Is it worth building?

You can make (tiny) amounts of bitcoin by watching ads. There's some sites listed here:

http://www.bestfreebitcoin.com/

Although this method seems a bit tedious. You're probably better off buying them at an exchange if you value your time.

Exactly what I was looking for. Thanks very much for the help!

Hi all,


I am currently working on a project developing a web app that will be both receiving and paying bitcoins to users. I've found some resources how to do so by hosting your own server running bitcoind, but since my web app will be running on Heroku I am not sure if this is an option.

Does anyone happen to know any resources for bitcoin payments, ideally implemented through node.js? Thanks all for the help!