Equality is a myth and a fool's errand to pursue. We are NOT equal in basically any respects and we can never be so. Some are more intelligent or stronger or better chess players or dancers. I am not the pinnacle of human evolution and neither are any of you - we're all just individuals striving to do the best we can. This also doesn't mean Asians are better than whites or men are better than women - those are also silly myths Fuck equality! Viva la bitcoin.... or something  |
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twenty bitmill (no s)
Voted for twenty bitmills anyway
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Bitcoin and mbtc is only what i use. Learned mbtc while counting the chips in online poker games lol they all talk in mbtc there.
Most of the relevant (non-dice) gambling sites refer to chips/units as mbtc/btm (0.001btc). I will always consider 0.001btc as 1btm because of Dragon's Tale and Seals With Clubs. Btc, btm, and sat/ksat/satoshi are all we need |
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Gotta love the -6 trust. I have my issues with the trust system here, but really come on.
Good luck selling buddy - and good luck to anyone who deals with this 'trusted' member
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For example: 10,000 Satoshi or 10k Sat.
+1 to using sat and ksat for amounts less than 1btm (0.001btc) |
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bit mill (btm) not millibit - but again I don't see this as worth spending time on. There will not ever likely be agreement on this - as long as we can all deduce what people are talking about it shouldn't much matter. Some people (moreso in the past than now) used to call $0.25 'two bits.' If you here that today (in USA at least) pretty much everyone knows what the person is talking about. Stop worrying so much about the naming conventions. If we need XBT for the ISO currency code and that is to be 0.000001btc that's fine - beyond that we'll figure it out in time
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KARHU walks among us still as we test $360 again.
As silly as this thread is the OP's original call has been fairly spot on.
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A bitmill (btm) or millibit = 0.001btc Good luck convincing me otherwise  |
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Coinstar does not charge people 9% for changing USD -> USD, but they rather automate the process of converting large amounts of coins into a "format" that is spendable, as most banks will not accept large amounts of change/coin that is not "wrapped" by denomination.
The fact that a coinstar machine is expensive to produce as this kind of technology is not cheap (to count and sort coins deposited in mass) and needs to be audit-able will make it less likely that there will be a machine that converts change into bitcoin. Any operator would need to cover the costs of the machine plus some margin in converting their fiat into bitcoin
Right - they charge people 9.8% for the service of converting loose change into a more spendable form of fiat. However - you may also choose to convert to an Amazon or ITunes gift card as well as other options for ZERO fee (presumably in this case Amazon/Apple etc are paying CoinStar a somewhat reduced fee based on volume.) So why couldn't Coinbase or Circle or?  do the same thing? Now - you might be talking paying a 15% or so premium by the time you get the btc - something akin to going the Paypal to Virwox to btc route, but we're again talking about small amounts of btc for the loose change sitting in a jar or on your bedroom floor right now. Anyway - I'm interested to see both the interest and the level of negativity that various users have about this. Glad to at least inspire a bit of conversation at least |
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one thing im learning from the research im doing now is that coinstar do not pick up the coins and put it into their bank. instead the shop empties the machine and then puts it into the shops bank account. thus i think if i get a reply it would be something like the retailer has to offer a bitcoin exchange service to be able to offer it through their box. as the funds never really reach outerwall inc
That makes sense - there is really not much point in sending a truck around to pick up the change - the supermarket/Wal-Mart already has that happening - so yes some existing service would ideally be involved. In the US either Coinbase or Circle spring to mind. I suppose they might both have problems with AML/KYC type issues - and now that I think about it there's probably no viable way to get around those regulations in the United States. But again I doubt that anyone using CoinStar to get some fraction of a btc will be all that concerned about strict anonymity. |
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My Grandfather used to have a few $1000 bills - I saw them when I was a did. He must have spent them or something along the way as he and my Nana both passed away and we didn't find them when we cleaned out the house. I remember thinking it was SOOOO much money when I was a kid. Not sure if a coincidence but he was big at the local track - owned a few horses on the fair circuit and was a fairly big better.
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On the east coast at least there is a CoinStar in most grocery stores and Wal-Mart's already. This for me is a central point of the play - no one really needs any major capital expense to start this up. The network of machines exists - and I'm 99% sure they are internet connected. I'm not sure if distributing private keys at the location is feasible or if some sort of redemption code would make it simpler.
But this would reduce one of the major barriers to entry for people wanting to 'dip their toe' into btc. Anyway - glad to see people are liking the idea - I hope it happens
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i see what you mean -- literally a coinstar machine -- got you.
that would be crazy. it would also provide a purpose for that big ass water jug full of pennies at my in-laws house. i'd commandeer that sh!t quick-fast.
Yep - that's EXACTLY my point. Hopefully someone with some business sense will run with this and make a little money while providing a service as well |
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Not really like an ATM at all - and based on that map the closest one to me is several hundred miles.... There is also a huge existing network of CoinStar machines - and I highly doubt these btc ATMs are going to accept a bucket of change either. But thanks for the read and reply
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I had this idea today - and should probably try to develop it myself but that won't really happen. So - anyway I'm just going to leave this here and see if anyone will run with it.
You know those CoinStar machines in supermarkets etc? (in USA afaik) They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)
What if someone set up a venture to sell btc this way?? It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc. You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site. This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.
Anyway - it strikes me as a good idea. Feel free to discuss and develop it. I really hope one day soon it's an option to convert my spare change into btc!
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Dragon's Tale casino has been operating since early 2011 at least - that's certainly not the 'normal' betting model - but some sites have longevity. Seals With Clubs (poker site) has also been in operation since sometime in 2011 I believe
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No I don't use 'bits' it's 100sat to me. I don't ever expect to use bits or microbitcoins as I simply don't see the need.
0.001btc = 1btm (anything between 0.001btc-1btc uses bitmill/btm as the unit)
0.306btc = 306btm
Amounts under 0.001btc are satoshis or sat/ksat
0.00095btc = 95ksat
0.000025btc = 2.5ksat
0.000005btc = 500sat
This is simple and makes sense to me - if you don't like it I really don't care and think WAY too much time has been devoted over the years worrying about what people will call the various units of btc. Let the programmers talk in terms of microbitcoins and people who like their own colloquial terms use them as they please - we'll all be able to figure it out and eventually some set of terms will make it's way into common usage (assuming btc survives long enough.) Those terms will NOT be determined by silly arguing on this forum however
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You're wrong - but thanks for playing....
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I do too... we need some sleazeball to start up a new Bitcoin Savings and Trust to borrow coins from newbies to short the market. When the newbies realize the jackass stole their money and try to withdraw, said jackass will be caught between a short position and a jail sentence and will try to fuck with the market to get it back. These pitiful attempts will fail of course, and the sudden loss of bitcoin by all the investors coupled with everyone knowing the sleazeball's hand, coupled with him providing an opportunity for cheap bitcoins will drive the market up to ensure he can't recover from his error.
Oh wait, we had one of those already.
Interesting that you think we've only had ONE of those already ;-) |
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You've cracked the code Bro... everyone else can just move along now If you look at the charts, it seems that odd years have generally been good for Bitcoin both price-wise and adoption-wise, and even years have been rather boring and uneventful. 2009 = Satoshi releases Bitcoin. First bitcoiners. 2010 = Not much happened in this year. 2011 = Bitcoin becomes known to the outside world. Beginning of mainstream adoption. Dollar parity followed by first rise to $30. More bitcoiners. 2012 = Not much happened in this year again. 2013 = Interest in Bitcoin surges. Price rises from $13 to $265 in April then almost $1,300 in November. Way, way, way more bitcoiners. 2014 = Not much seems to happening in this year again. Price hasn't budged all that much. Interest is down from late 2013 levels. So it follows that 2014 will probably be a rather disappointing year for Bitcoin (and indeed that has been the case). But 2015 should be an exciting year and we will see more interest and mainstream adoption happening in that year.  |
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