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1  Economy / Speculation / Time-series analyses on: September 28, 2014, 11:33:17 PM
I was conducting some time-series analysis on Bitcoin/USD when I stumbled on this algorithm, which produced the following prediction:



I don't claim the algorithm has much skill (based on this dataset, it seems to perform almost as well as a simple exponential trendline, which is not surprising since the algorithm is just noise added to an exponential trendline). But I am impressed at how natural the price movements predicted seem. The chart looks nice Cheesy.

The algorithm is fairly simple:

  • Treat the logarithm of the time series as a function with domain [0, π).
  • Detrend the dataset.
  • Fit the function as a linear combination of sin(x), sin(2x), sin(3x), etc. to the desired precision.
  • Extrapolate this to the domain [π, 2π).
  • Retrend the dataset and remove the logarithm to get predicted price values.
  • Multiply by the "depression factor" to correct predicted price values so as to be consistent with today's price.

Since this algorithm has no skill, I feel comfortable sharing it as a curiosity. Does anyone else have any similar failed models that nevertheless produce interesting results?
2  Economy / Speculation / The bubble popped in winter; could this year end red? on: September 28, 2014, 09:29:26 PM
Historically, Bitcoin has always been up on December 31 relative to January 1 of the same year.

But these dates are arbitrary. There have been long periods of time in 2012, for example, where Bitcoin price was below where it was a year ago.

However, because a winter bubble pop has inflated January's numbers, this may be the first time that the price will not recover in time to colour 2014's candle green. (The price on January 1 was $745.)

Thoughts?
3  Other / Meta / More Subforum Suggestions on: August 12, 2014, 05:01:59 PM
Some of these are recycled from previously denied suggestions. I have included justification for the creation of each subboard.

  • Bitcoin → Bitcoin Discussion → Security
    Discussion about Bitcoin-related security best practices.

    Not to be confused with Marketplace → Securities. A search for "Security" in Bitcoin Discussion turns up over 40 pages, most of them that would fit in a Security subboard. A Security subboard would focus security-conscious people, increasing collaboration and producing useful content that can help anyone from the average Bitcoin user to a multinational Bitcoin exchange.

  • Economy → Adoption
    Discussion about vendors and companies that have begun to accept Bitcoin, factors promoting or hindering Bitcoin adoption, and other related topics.

    Discussion about, for example, Dell's acceptance of Bitcoin does not easily fit into any one category. Some discussion occurs in the Press topic, some in the Bitcoin Discussion topic, and some scattered elsewhere. Discussion in places such as Bitcoin Discussion tends to be stale, with a large proportion of posts adding little to the topic. A new Adoption subboard would enable a small corps of users interested in furthering Bitcoin adoption to produce focused and intelligent discussion of Bitcoin adoption.

  • Economy → Marketplace → Brick-and-Mortar
    Discussion about using Bitcoin in physical locations.

    Despite overlap with Marketplace and the other proposed Adoption subboard, there are specific topics that are relevant only to brick-and-mortar shops, for example discussion about zero-confirm transactions or point-of-sale software. Interest in brick-and-mortar is sufficiently high to justify a subboard (see http://coinmap.org for a count of brick-and-mortar locations). Currently, the Marketplace main board is too flooded with online properties to be useful for potential brick-and-mortar adopters.


In general, I believe that creating subboards is a good thing because:

  • It focuses people who are interested in that specific topic.
  • Level of discourse in larger boards degrades into short, "I agree", "Awesome", etc. style posts, mostly because the interests covered by that board are too broad, and some users post despite lack of interest.

Subboards should be created when interest in a field is sufficiently large, and the current location for discussing the field is flooded with topics that are mostly outside the interest of the potential users of the subboard.
4  Bitcoin / Bitcoin Discussion / Bitcoin in meatspace on: August 08, 2014, 08:20:51 PM
Given Bitcoin's acceptance by Internet and technology giants such as the Wikimedia Foundation, Reddit, Dell, and more, I thought it would be instructional to look at the largest corporations in the world and count how many accept Bitcoin. The best way to rank such companies would be by sales, but not having found such a list, ranking by revenue works as a fallback.

The Wikipedia list of companies ranked by revenue is here.

Unfortunately, not a single one of those $100B+/year companies accepts Bitcoin at the moment. This was disappointing. It was also instructional; for instance, I was shocked that neither Google nor Microsoft make the list. Tech giants are valued much higher than other companies because of their potential and profit margin, but they do not actually sell that much stuff.

For now I am back to monitoring CoinMap, but I hope I can look back at this Wikipedia page a year later and see the seeds of Bitcoin acceptance start spreading outside the high-tech bubble.
5  Bitcoin / Press / [2014-06-03] TechCrunch — You Can Buy 50 Cent's New Album With Bitcoin on: June 03, 2014, 10:24:49 PM
http://techcrunch.com/2014/06/03/you-can-buy-50-cents-new-album-with-bitcoin/

Quote
50 Cent’s new album isn’t doing too well critically, but commercially the rapper is trying to take all comers and is even accepting bitcoin as payment for the record.

Exciting news. Bitcoin is hip!
6  Other / Meta / [Request] Ban "Posted From bitcointalk.org Android App" on: May 23, 2014, 03:36:53 AM
This phrase has become infuriatingly more common recently:

Quote
Posted From bitcointalk.org Android App

A post is a post and it need not contain the method with which it was posted. Imagine the chaos if all posts said "Posted From bitcointalk.org on Mozilla Firefox" or something similar! I suggest the forum add that phrase to the censorship list (which IIRC is already being used for links to Silk Road) and replace it with a null string.

Posted From bitcointalk.org on a browser
7  Economy / Speculation / The market was waiting for a jump so it could rally... on: May 23, 2014, 01:46:04 AM
This recent price spike surprised me, but in hindsight it should not have.

The weeks preceding the price spike were among the most bullish I had ever seen. Speculators across this subforum were predicting breakouts, giving a variety of dubious but thought-out reasons. They were wrong time and time again, but the sentiment remained.

It is reasonable to suggest that this sentiment held out across the Bitcoin trading community—it was time for a rally, but when? Markets behave in irrational ways, and are extremely difficult to predict. But sentiment is a strong indicator. So when sentiment was so strong, why was the price still dropping like a stone?

My hypothesis is that markets will eagerly follow the sentiment if the trend agrees, but if the trend does not agree, markets will reluctantly side with the trend. It took a random one-day fluctuation to convince Bitcoiners the price was going back up, and then the rest is history.

Hindsight is always 20/20 of course, and I don't claim to be able to predict the future. Maybe this rally will fizzle out in time. But I think this hypothesis makes sense, seems to fit well with Bitcoin's history, and may come useful again sometime later.
8  Bitcoin / Bitcoin Discussion / The unit poll on: May 21, 2014, 11:11:36 PM
To everyone's surprise, Bitcoin was secretly centralized! The intergalactic Bitcoin central authority has announced it will mandate a particular unit. All people who use Bitcoin must deal with and only with that particular unit. Luckily, the IBCA is kind enough to allow the community to give input into units that they approve of. Do your part!



I want to see the level of support behind the various unit proposals. In the poll above, choose all units for which you would not mind being the "default" unit for day-to-day commerce. Please note some names ("bit" in particular) are intentionally duplicated as various proposals for their meaning have arisen in the past. When there are lots of zeroes, I included the base unit ("satoshi") conversion. Tonal units are at the end to avoid confusion; otherwise, units are ordered by denomination.

Edit: Ignore the percentages. To calculate approval rate, use approval_rate = votes_for_this_option / total_voters.
9  Bitcoin / Bitcoin Discussion / How many Bitcoiners are there? on: May 12, 2014, 02:37:09 AM
I have tried to produce estimates for the number of Bitcoiners using three means of estimation. However, these means disagree significantly. Hence I am asking fellow BitcoinTalk users for feedback.

Methodology 1: Naive Count

This method involves counting the number of users who use each popular form of wallet.


Total: 2608299 Bitcoiners

Strengths:
  • This approach counts directly instead of extrapolating from a correlated metric.

Weaknesses:
  • Many smaller wallet providers are not enumerated. (Net undercoverage)
  • Partial nodes are not counted. (Net undercoverage)
  • The number of full nodes is a lower bound; many full nodes cannot be found and enumerated. (Net undercoverage)
  • Many Bitcoiners have more than one wallet provider, so are double or even triple-counted. (Net overcoverage)
  • Many accounts on wallet providers belong to former Bitcoiner users who are now disinterested or deceased. (Net overcoverage)

Methodology 2: Coinmap.org Extrapolation

This method uses http://www.just-style.com/store/samples/wrdas_samples.pdf and http://coinmap.org as sources. From the first source, there are approximately 5000 retail stores per million inhabitants (as an average of the developed world). From the second source, there are 4333 retail outlets that accept Bitcoin. A trivial calculation yields:

Total: 866600 Bitcoiners

Strengths:
  • This approach successfully discounts inactive Bitcoiners, as they do not generate retail demand.

Weaknesses:
  • Many stores are not listed on CoinMap. (Net undercoverage)
  • Many stores listed on CoinMap are not retail outlets. (Net overcoverage)
  • Many stores listed on CoinMap have since ceased to accept Bitcoin. (Net overcoverage)
  • There is no evidence that the retail-to-population ratio will hold for Bitcoin. (Unknown effect)

Methodology 3: Address counting

The method employed here is simply to count the number of non-empty or non-trivial addresses. These are addresses with over 1 mBTC. http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=300000 provides such a list, giving:

Total: 1456865 Bitcoiners

Strengths:
  • This approach is relatively complete: even MyWallet and CoinBase users often have at least one non-empty address (though with shared wallets it is sometimes complicated.)

Weaknesses:
  • Some shared wallets may pool addresses of clients together, making most empty. (Net undercoverage)
  • Many people have more than one non-trivial address; some may have hundreds. (Net overcoverage)
  • Many addresses probably hold coins whose keys have since been destroyed. (Net overcoverage)
10  Bitcoin / Bitcoin Discussion / List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses on: April 19, 2014, 01:56:22 AM
Last updated: November 16, 2014, 12:36:50 AM. (However, some entries remain on the backlog.)

List of Bitcoin Heists
Following is the result of research on prior Bitcoin-related thefts. The list strives to be as accurate and informative as possible, and where possible I have provided references for assertions made within. For disputed thefts, I have applied best judgement and included the ones that were most publicly accepted.

Because of the volatile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin-denominated losses are also included in this list. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.

Note that this thread is relatively new and was created because of space limitations in the original thread.

Additionally, I would be grateful if contributors write commentary for each theft. Ideally, the theft descriptions should be as detailed as possible. Much of the present commentary is inadequate.

Table of Contents

License
This entire document is licensed under the public domain. If that would is not permissible in your jurisdiction, it can then be licensed under any permissible license of your choosing.

The author of this list believes all information contained thereof to be factual; however, the author takes no responsibility for any losses associated with factual inaccuracies in the list.

Factual inaccuracies
Although I make every attempt to ensure information in the list is well-cited and factual, there is always the possibility of error (whether on my part or on my source's part). If you find a factual inaccuracy, please report it. You will be credited appropriately for such reports.

Donation
Donations are appreciated and are accepted at 1MLSW1nmYkHqaHWNNkHSAHct6exd8fYYLX. Alternatively, consider a donation to a charitable cause. Many victims of these thefts accept donations, and they likely need the donations more than I.

Scope
Without properly-defined bounds, this list could not possibly be complete. Consequently, several clauses below limit the scope of the list.

General
Generally, a major heist, theft, hack, scam, or loss must cause damage greater than or equal to 500 BTC, in BTC damage only, to qualify for inclusion in this list. Thefts related to Bitcoin but with most damage in another currency do not qualify, unless customers were damaged in BTC. Borderline thefts may qualify if reasonable estimates are over or equal to 500 BTC. Thefts that do not strictly qualify but are of significant importance are listed in the thefts not included section.

Losses are included only if they are unintentional. This obviates the need to include many incidents where people delete wallets due to lack of value at the time before 2011, and additionally prevents the inclusion of more recent “proof-of-burn” alternative cryptocurrencies that require bitcoins to be destroyed.

If a theft is included on this list because it was thought at the time to qualify, but more recent analysis shows that it does not, it may potentially remain on this list despite not meeting the requirements.

Understood risk
Some losses of Bitcoin to third parties cannot in principle be classified as scams or losses.

While it is certainly true that some securities are intended as scams, and they should certainly be included in the list if they are, several high-profile company disasters could not be honestly included on this list. For instance, a company's failure to return funds raised during the IPO through profits is not in itself sufficient to be a scam. The risk involved here is an “understood risk”.

However, this does not absolve all who create securities. Those who intend the securities to be a scam, or through negligence or willful blindness allow it to become a scam, will still be included on the list. In these scenarios, the risk to the investors is not agreed to by the investors, hence it is not an “understood risk”. Incompetence by itself is however insufficient for a security to be classified as a scam.

Other trivial incidents can be excluded by the same principle. For example, a large gambling loss is obviously not a scam, because the risk was understood. But if evidence indicates that the casino rigged the games, then the risk is no longer understood, and the incident is eligible for the list.

Because sometimes the evidence is not clear-cut, this list includes or refuses to include incidents based on the best evidence available. If a reasonable interpretation of the event suggests that it was not within understood risk, it will be included in this list, even if alternative interpretations exist.

This policy does not apply to thefts.

Managing Bitcoin prices
It is well-known that Bitcoin prices are volatile. Before 2011, the value of a single BTC was extremely low. Consequently, this list ignores most events that occurred before 2011. If a theft, hack, scam, or loss caused damage less than 5000 BTC before 2011, it is not listed on this list at all.

For several years during which the Bitcoin price fluctuated greatly, there are also USD cutoff values. In those years, both the BTC cutoff value and the USD cutoff value must be met for the theft to be included.

Cutoff values so far are below:
YearCutoff ValueSeverity list cutoff
20095000 BTCN/A
20105000 BTCN/A
20111000 BTC12000 $
20121000 BTC12000 $
20131000 BTC12000 $
2014500 BTCN/A

Included borderline thefts
Before 2014, another clause was used to include several thefts due to the rapidly appreciating Bitcoin price. This clause is no longer in effect. Borderline thefts, which had less than 1000 BTC in total damages, may still have been included if their total damage when measured in June 2013 BTC exceeds 500 BTC. This measurement was based on Mt. Gox price data prior to 2013-06-09, Bitstamp price data after 2013-06-10, and US CPI data published by the United States Bureau of Labor Statistics.

Instructions
For ease of navigation, I have assigned each theft a name. Note that this name is neither official nor permanent and is used solely for ease of navigation. To search for the heading that details the actual theft, simply use your browser's Find function and search for the name. This will either bring you to the theft itself, or a link to the theft. If the latter, simply click the link to be directed to the theft.

Some links will appear in commentary and in lists. These can be clicked; their destination is set to the beginning of the linked incident's section.

List of events by severity
In this section, each theft is listed alongside the value stolen when converted to a January 2014 BTC equivalent along with the value stolen when converted to real (inflation-adjusted) USD.[1] This represents the true value stolen and is generally the best list in that regard.

Note that this list makes no effort to restrict the precision of the numbers nor to indicate what type of estimates each number represents. Please see the following list for such data.

RankNameSeverity (January 2014 BTC)USD Equivalent
12014 Mt. Gox Collapse850000.000BTC700258171 $
2Silk Road Seizure32716.283BTC26867560 $
3Sheep Marketplace Incident4978.276BTC4070923 $
4Silk Road 2 Incident4400.000BTC3624866 $
5GBL Scam4185.734BTC3437446 $
6MintPal Incident3894.492BTC3208412 $
7Bitcoin Savings and Trust3700.408BTC2983473 $
8PicoStocks Hack3679.520BTC3009397 $
9MyBitcoin Theft1395.691BTC1072570 $
10CryptoRush Theft950.000BTC782641 $
11Flexcoin Theft896.104BTC738240 $
12BIPS Hack808.140BTC660959 $
13Inputs.io Hack780.069BTC640615 $
14James Howells Loss763.965BTC627659 $
15Allinvain Theft580.983BTC445688 $
16BASIC-MINING405.445BTC332963 $
17July 2012 Bitcoinica Theft398.757BTC315133 $
18Bitfloor Theft338.861BTC273209 $
19Bitcash.cz Hack302.517BTC247422 $
20Bitomat.pl Loss301.332BTC231570 $
21Bitcoin Rain283.696BTC231440 $
22Linode Hacks281.818BTC223278 $
23May 2012 Bitcoinica Hack240.993BTC191638 $
24ZigGap240.128BTC195490 $
25Vircurex Theft199.938BTC163351 $
26Tony Silk Road Scam184.356BTC146944 $
27Stefan Thomas Loss162.675BTC124793 $
28Just Dice Incident132.436BTC108807 $
29Cdecker Theft129.745BTC104607 $
30Ozcoin Theft129.713BTC105600 $
31Mass MyBitcoin Thefts93.409BTC71656 $
32BTCGuild Incident88.939BTC72556 $
332013 Fork68.094BTC55551 $
34Bit LC Theft63.434BTC51480 $
35June 2011 Mt. Gox Incident61.428BTC47123 $
36Kronos Hack53.633BTC42859 $
372012 Trojan49.054BTC39146 $
38BTC-E Hack44.860BTC35452 $
39Mooncoin Theft28.831BTC22346 $
40Bitcoin7 Incident20.703BTC15980 $
41Ubitex Scam20.189BTC15515 $
42Betcoin Theft19.490BTC15534 $
43Bitcoin Syndicate Theft18.469BTC14595 $
442012 50BTC Theft16.678BTC13437 $
45Andrew Nollan Scam13.961BTC10895 $
46October 2011 Mt. Gox Loss10.804BTC8340 $
47Bitscalper Scam8.156BTC6461 $
48Stone Man Loss0.758BTC544 $

List of events by BTC value stolen
NB: This section is out of date.
In this section, each theft is listed along with its rank, severity, and time, ordered by the highest mBTC value stolen from most severe to least. To navigate to a theft, simply click on the link.

Critical (≥10 kBTC)
RankNameTimeSeverity
1Bitcoin Savings and Trust2011–2012est. 263024 BTC
2Silk Road SeizureOctober 2013171955.09292687BTC
3MyBitcoin TheftJuly 201178739.58205388BTC
4Linode HacksMarch 2012l.b. 46653.46630495BTC
5July 2012 Bitcoinica TheftJuly 201240000.00000000BTC
6*May 2012 Bitcoinica HackMay 2012
Unresolved as of December 2012
18547.66867623BTC
39000 BTC total impact
7Allinvain TheftJune 201125000.01000000BTC
8Tony Silk Road ScamApril 2012est. 30000 BTC
9Bitfloor TheftSeptember 2012u.b. 24086.17219307BTC
10Bitomat.pl LossAugust 2011est. 17000 BTC
* Rank includes pass-through impact

Major (≥1 kBTC)
RankNameTimeSeverity
11Cdecker TheftSeptember 20129222.21195900BTC
12Stone Man LossAugust 20108999.00000000BTC
13Stefan Thomas LossJune 2011est. 7000 BTC
14Bitcoin7 IncidentOctober 2011l.b. 5000 BTC u.b. 15000 BTC
15BTC-E HackJuly 2012est. 4500 BTC
16Inputs.io HackOctober 2013est. 4100 BTC
17Mass MyBitcoin TheftsJune 20114019.42939378BTC
18Mooncoin TheftSeptember 2011est. 4000 BTC
19Kronos HackUnknownest. 4000 BTC
20Bitcoin Rain2011–2013est. 4000 BTC
212012 TrojanSeptember through November 20123500 BTC a. 3457 BTC
22Betcoin TheftApril 20123171.50195016BTC
23June 2011 Mt. Gox IncidentJune 2011l.b. 2643.27BTC
24October 2011 Mt. Gox LossOctober 20112609.36304319BTC
25Andrew Nollan ScamFebruary 2012l.b. 2211.07786728BTC
26BASIC-MININGOctober 2013a. 2131 BTC
27Bit LC TheftFebruary 2013est. 2000 BTC
28Bitcoin Syndicate TheftJuly 20121852.61553553BTC
29ZigGap2012a. 1708.65967460BTC
30Bitscalper Scam2012est. 1350.10259806BTC
31Just Dice IncidentJuly 20131300.15500000BTC
32BTCGuild IncidentMarch 2013a. 1254 BTC
332012 50BTC TheftOctober 20121173.51659074BTC
34Ubitex Scam2011a. 1138.98BTC

Borderline (<1 kBTC)
RankNameTimeSeverity
352013 ForkMarch 2013960.09645667BTC
36Ozcoin TheftApril 2013922.99063322BTC
11  Economy / Auctions / Signature space on: December 03, 2013, 03:58:08 AM
I will be selling advertising space in my signature once again this month. The first line is for sale.

You may submit any signature to advertise in the first line, provided it does not conceal the second line of my signature (as viewed on my computer), it complies with forum regulations as well as Canadian law, and it does not contain any deceptive statements. I retain the right to reject signatures based on my interpretation of the above rules.

The auction will end no earlier than December 9, 2013 at 00:00 forum time (UTC), and no later than December 16 at 00:00 forum time. Given these absolute limits, the auction will end 12 hours after the last valid bid. A more conventional way of stating these same rules is that the auction will end on December 9 at 00:00, unless a bid occurs less than 12 hours prior, in which case the end time will be extended to 12 hours after the last bid, but shall not be extended past December 16 at 00:00.

I will expect payment by midnight December 17 UTC, and will ensure my signature has been changed by that time. You must pay in advance for the whole advertising period unless you are a very well-trusted member. The period of advertising will be at least 30 days. I will remove the signature no earlier than January 16 at 00:00 forum time (note that there are 31 days in December). In the event the service you advertise is found to be a scam, I will remove the signature and divide the funds for the remaining advertising period among victims of the scam as I see fit. (Note: If you are merely an innocent third party [a referral link, for example], I will instead give you the option to change your signature for the remaining advertising period.)

Below I link prior signature auctions and their final bids:
AuctionFinal bidEquivalent in USD
#15 mBTC$2.09

Minimum bid is 1 mBTC; minimum interval is also 1 mBTC. In other words, please express bids in whole numbers of mBTC. To streamline the process please send me the code you want in the signature as soon as you have placed your bid (either in public or through PM). Within reasonable limits, you will be able to change this code by PMing me updated code.
12  Economy / Digital goods / [WTS] DailyBitcoins vouchers on: November 28, 2013, 01:29:35 AM
I have a significant sum of DailyBitcoins advertising vouchers to sell. A voucher is as effective for advertising as depositing into DailyBitcoins is. Asking price is generally 25% of face value, but bulk discounts or additional administration fee may apply. Whole amounts of mBTC vouchers only please. Check the below table for rates.

Vouchers to buyAsking price
1 mBTC to 20 mBTC30% (due to extra work needed for small amounts)
21 mBTC to 500 mBTC25% (standard tier)
501 mBTC to 1000 mBTC22% (bulk discount)
1000 mBTC+(cannot currently supply)

Generally speaking, rates are not negotiable. PM me to make an offer for buying some.

Unless you are a very trustworthy member, I expect you to send first. If you find that too dangerous, we may use an escrow. However, you will be required to pay any costs of said escrow.
13  Other / Off-topic / Visualizing Bitcoin units on: November 17, 2013, 04:27:51 AM
Here's a fun list I made showing off orders of magnitude and Bitcoin, from the very big to the very small. Under each heading is an item currently (November 16, 2013) worth about as much as the unit.

10000000 BTC (10 MBTC) Total number of bitcoins in existence.
Snapchat.

1000000 BTC (1 MBTC) Estimated fortune of Satoshi Nakamoto.
Top-10 skyscraper.

100000 BTC (100 kBTC)
Satellite launch.

10000 BTC (10 kBTC)
Modest apartment building.

1000 BTC (1 kBTC)
Detached house.

100 BTC
Upper-middle range car.

10 BTC
Decent horse.

1 BTC Original Bitcoin base unit.
Microwave.

100 mBTC
Vest.

10 mBTC
Watermelon.

1 mBTC
Can of pop.

100 µBTC
Ziploc bag.

10 µBTC
Sheet of paper.

1 µBTC
Decorative rock.

100 nBTC (10 satoshis)
Gram of topsoil.

10 nBTC (1 satoshi) Smallest unit currently supported.
Large grain of sand.
14  Economy / Economics / The satoshi: now the second-lowest currency denomination on: November 16, 2013, 04:53:13 PM
Recently, the satoshi exceeded 0.01 Uzbekistani som in value.[1]

Why is this important? 0.01 Uzbekistani som is a Uzbekistani tiyin, which is the least valuable currency denomination used in the world.[2]

The satoshi was originally designed to be small enough that even if Bitcoin blew up, people could transact well. At today's prices, the satoshi is finally a reasonable smallest denomination, reaching the levels of one government smallest denomination.

Luckily, this is not a problem. More decimal places can easily be added in the future. In fact, there is room for 3 more decimal places yet![3]

The next target is the Burmese pya. We are around halfway there at current rates.

References
15  Other / Meta / Building a new trust list... Why should I trust you? on: November 10, 2013, 07:43:28 PM
I will be replacing DefaultTrust with a new trust list. However, I do not have a good starting point to start building this list with. Thus, I am asking for applications to become "trusted". Please respond with:

  • Why should I trust you?
  • What have you done for the community?
  • What are your prior successful trades?
  • Aside from yourself, who do you feel is the most trustworthy member of BitcoinTalk?

Thanks in advance for your participation.
16  Economy / Auctions / Signature space on: November 10, 2013, 04:34:24 AM
Due to the collapse of TradeFortress's signature ponzi scheme advertising, I will be selling advertising space. The first line is for sale (currently populated by a referral link). You may submit any signature to advertise in the first line, provided it does not conceal the second or third lines of my signature (as viewed on my computer), it complies with forum regulations as well as Canadian law, and it does not contain any deceptive statements.

The auction will end November 15 at 00:00 forum time (UTC). I will expect payment by midnight November 16 UTC, and will ensure my signature has been changed by that time (yes, you must pay in advance unless you are a very well-trusted member). The period of advertising will be at least 30 days. I will remove the signature no earlier than December 16 at 00:00 forum time. In the event the service you advertise is found to be a scam, I will remove the signature and divide the funds for the remaining advertising period among victims of the scam as I see fit.

Minimum bid is 1 mBTC; minimum interval is also 1 mBTC. In other words, please express bids in whole numbers of mBTC.
17  Other / Meta / BitcoinTalk bigger than XKCD forums! on: October 28, 2013, 12:50:44 AM
Has anyone noticed this? We may not have more members (151789 vs. 358315), but we certainly have more posts (3409891 vs. 3377308). And when it comes to topics (184378 vs. 59902), BitcoinTalk leads by a large margin.

I realize our numbers may be a bit more inflated thanks to the more lax moderation here, though. Since XKCD's forums are older than ours, they should have more posts per member... but it's the opposite. And I think we have a bunch more topics because we don't have anti-duplication rules (i.e. someone is allowed to start new threads for already-discussed topics rather than continuing the old thread). Nevertheless, it's an important milestone!
18  Economy / Speculation / BTCChina/Bitstamp discreptency on: October 19, 2013, 03:51:22 AM
It has just occurred to me that the current BTCChina price (974 CNY = 160 USD) is almost $6 higher than the current Bitstamp price (154 USD). This discrepancy isn't sustainable, of course. The two exchanges have been of similar size recently, so which exchange is going to yield? Maybe they will meet in the middle?
19  Other / Meta / Posts no longer being marked as "read" on: July 30, 2013, 09:28:47 PM
Even after reading threads, the thread remains "unread". The watchlist no longer works properly because of this.
20  Bitcoin / Legal / Bitcoin legality across the globe on: July 29, 2013, 05:08:05 PM
Dear reader
This thread is a bit out of date. For up to date data, see BitLegal, an amazing website that already contains all content listed below and more.

But if you insist...

Legality of Bitcoin, across the globe
With the recent news of potential illegality in Thailand, I decided to start a list of countries and Bitcoin's legal status within them. This list was last updated December 20, 2013, 04:26:18 PM.

Table of Contents

Disclaimer
Although the author makes every attempt to ensure factual accuracy, no responsibility is taken for any damages which occur based on factual inaccuracies associated with this article.

Amendment
The author encourages corrections and additions. These may be posted as replies to this topic.

License
This document, including any illustrations attached to it, is licensed under any licence of your choosing.

Map

  Legal
  Contentious legality
  Illegal
  Unknown legality
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