It's out of the question to literally move the decimal point, and goblin didn't mean it literally.

Two things we can do are to (a) expose more of the existing precision in the user interface, and (b) see if we can agree on terminology and notation.

We have previously discussed notation without an apparent conclusion. I would like to suggest an alternative notation that has not yet been proposed.

I suggest the following:

One bitcoin equals 100 bitcents
One bitcent equals one thousand millicents
One bitcent equals one million microcents

By subdividing the bitcent rather than the bitcoin, we neatly end up with a name for the tiniest piece of bitdust, i.e. 1/100000000 of a bitcoin.

No doubt in time nicknames would arise for these small units. I like "austrian" and "satoshi" as possible nicknames

OK ...

It's a fact that the number of things for sale with Bitcoins is increasing, and has increased every month for the past year. So would you agree that, even if Bitcoin is valued too high right now, its "true" value is trending upwards?

Thank you!

"Do Pigs Deserve Respect?" is now published here (and on the front page), and I have sent your coin. I'll send further coins if I use other parts of your interesting writing.

How much do you think a Bitcoin is "really" worth, and why?

I'm paying one bitcoin for each 300-word article that meets the following criteria.

You can write about just about anything, but it must be in the form of a question and answer. Here are some examples to start you thinking about ideas:

• What is fiat currency?
• How do you fry an egg?
• How can you safely back up your family photos?
• What is the best Elvis song?
• What's a good way to learn Spanish?
• How do you fix a bicycle puncture?
• What is trigonometry used for?
• What do trading terms such as "bid", "ask", "call", and "put" mean?
• What would it be like to live on Mars?
• How many megapixels does a good camera need?
• What are the main differences between a Mac and a PC?
• What are the main parts of a car?
• What toys were popular in <the year of your childhood>?

The subject matter must be family-friendly and must be legal in the USA, the UK, and your country.

Topics must not get out-of-date quickly. This would exclude questions like "Which country recently had a change of government?" or "What is the top-selling song this week?".

300 words is a good length. Minimum is 200 words, maximum is 1000 words.

You can consult the internet to look up or check facts, but don't paraphrase what is already on the web (I could get that done ten times cheaper using Mechanical Turk, if that was what I wanted).

Upon payment, you transfer rights in the article to my company (Uclue Ltd), which may use the article in any way including publishing on the web.

If you would like to encourage others to re-use your article, feel free to conclude with the words "This article is released to the public domain."

If you would like to be credited, add the sentence "This is a guest post by <name>."

Put your bitcoin receiving address at the end of your article. This is used to pay you, and will not be published.

Look at the existing articles at http://quezi.com/ to see how it works, but don't feel constrained by the type of articles that are already on the site.

When I launched the Quezi site, I had hopes that it would be commercially successful. However, the average contributed article yields less than 30 cents per year of advertising income. This has not enabled me to offer a reasonable fee for articles in the past, but if you think the value of a bitcoin will continue to rise, this could be quite worthwhile.

This offer closes at the end of February 2011. Send your articles to me by forum PM. I don't guarantee to accept every article, but I expect to accept the vast majority, making editorial changes if necessary.

If you want to ask about something before you start writing, this thread would be a good place to ask.

PS: If you want to suggest an accompanying photo, that would be great. The photo must either be Public Domain or Creative Commons Attribution (CC-BY). A good place to find photos is this Flickr CC-BY search page.

I have three Bitcoin wallets, of approximately equal size.

One wallet will sit untouched until I retire in a few years, then I'll sell the coins over time to provide some retirement income. Obviously I'm hoping that the value of this wallet will grow considerably.

Another wallet is for members of my family. I will give it to them when Bitcoin is easy enough (and safe enough) for non-technical people to use.

The third wallet is for day-to-day spending. I'm quite free-and-easy with this one. Sometimes I send funds to a new Bitcoin business because I want to encourage Bitcoin entrepreneurship, even if I don't really need what they are offering.

I give 10% of any blocks that I generate to organizations whose goals are consistent with Bitcoin, e.g. EFF and TorServers.

10% doesn't seem high to me. If someone wants to provide a similar service for a lower commission, nothing is stopping them. Right now, you have the lowest commission rate for "per-share" mining payouts.

Gene, it feels to me like you're one of those people who post because they enjoy the attention they get from those who reply.

I apologise in advance if you are actually interested in what other people have to say.

But either way I'm tired of it. You may have the last word.

Then there is still hope for me! I mailed a payment two months ago which didn't arrive.

It took three months from when Bitcoin touched $0.50 at MtGox until it touched $1. That compounds into an annual increase of sixteen times.

I think that rate of increase is likely to continue, therefore 1BTC will reach 10 USD within a year, unless something goes drastically wrong.

So I agree with FreeMoney. It's 2011 or never.

(so far, Grondilu's party looks the most fun)

There is no such thing as a poisoned Bitcoin trade, provided it's voluntary. The buyer and seller each get what they want, and it's not anyone else's business.

You found the right Wikipedia page. Why did you quote some random tangential excerpts instead of the part that is directly relevant:


It confirms what I was saying.

Maybe he sold the vulnerability to someone else, and wants to cover his tracks.

If Scrooge McDuck started to buy millions of coins, the price would rise rapidly. Those who sold the coins to Scrooge would be very pleased indeed with their profit. The rest of us would just keep trading, paying "micro-coins" instead of "coins" because they would be worth so much more.

But for sure, it will cause some uncertainty and anxiety. It won't destroy Bitcoin though.

Maybe after a 2-week delay while people figure out how to get money in to MtGox.

PM sent.

After you click "Show unread posts since last visit" there is a "New" icon that brings you to the first unread post in each thread.

We should make sure that the existing client would see these micro-transactions (with the sign bit "set") as zero transactions. Graceful degradation, in other words.

Then, in 2016 or whenever the extra bits are needed, people will need to upgrade before they can spend the micro-transaction, but nothing breaks if they don't upgrade.

$1.00 trade at MtGox! We have touched parity!