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1  Economy / Computer hardware / [ on: March 06, 2014, 05:18:56 PM
2  Bitcoin / Bitcoin Discussion / Re: A proposal: Forget about mBTC and switch directly to uBTC (instead of satoshis) on: November 21, 2013, 08:23:31 PM
it is very confusing to talk about "kilo micro bitcoins".

This is not what I'm suggesting.

You would say "1000 microbits", or "1000 microcoins".

Not "1k micro bitcoins".
3  Bitcoin / Bitcoin Discussion / Re: A proposal: Forget about mBTC and switch directly to uBTC (instead of satoshis) on: November 21, 2013, 09:11:18 AM
So you want bitcoins for mathematicians only? Change the format when we are allegedly at the tipping point of mass adoption?

Gold costs $1400 an ounce. People live with that. Nobody changed the default way gold is represented.

Its a problem that doesn't need solving.

Gold was not used as currency at $1400 per ounce.

What happens when you want to price something that costs 0.000739 bitcoins? Writing 739 uB is a lot easier for the non-mathematician.

Many average users do not like the idea of spending $610 on one bitcoin, so this is a barrier to entry for the average joe.

A price of $0.61 for 1000 microbitcoins seems much more reasonable.

Also note that this thread is in response to this other thread that suggests satoshis as a base unit instead of microbitcoins:
4  Bitcoin / Bitcoin Discussion / Re: A proposal: Forget about mBTC and switch directly to uBTC (instead of satoshis) on: November 21, 2013, 07:08:23 AM
Try this experiment:

1000 uB is 1/1000th of a bitcoin. Right?

Or you can write: 1K uB is 1/1000th of a bitcoin.

So 0.1K uB is 1/10000th of a bitcoin. With me so far?

Now try this for satoshis.

How many satoshis is 1/10000th of a bitcoin?
5  Bitcoin / Bitcoin Discussion / A proposal: Forget about mBTC and switch directly to uBTC (instead of satoshis) on: November 21, 2013, 06:41:51 AM
This solution continues to allow us to have symmetry, and allows scalability beyond subdividing a satoshi, and is backwards compatible with the use of uBTC and mBTC.

You may wish to give uBTC some special name (if not microbits or microcoins) so that this idea works just like the "skip to satoshis" idea.

One problem with the "skip to satoshis" idea is that satoshis are difficult to convert to bitcoins, and microbits are easy to convert to bitcoins. Abandoning bitcoins entirely is now being proposed by some people in favor of satoshis only, which will just confuse things further.

Notice that with SI prefixes for large numbers we have:

1  uBTC = 0.000 001 BTC
1K uBTC = 0.001 BTC
1M uBTC = 1 BTC
1G uBTC = 1 000 BTC
1T uBTC = 1 000 000 BTC

Suppose we call these uB for short.

All of the arguments for skipping to satoshis still applies, except that we now have:

1M uB = 1 BTC

instead of

100M satoshi = 1 BTC

We also have: 1K uB = 1 mBTC, and similar simple conversion between other SI prefixes, so those can still be used without breaking anything or adding unnecessary confusion.

Also note that we can still talk about satoshis (in the distant future) easily in terms of uB:

0.01 uB = 1 satoshi

So we have a natural "cent" like many currencies do, which is near the limit for how most people are able to reason about numbers after a decimal place.

And when we subdivide a satoshi then we can move from microcoins to nanocoins much more naturally, without having to explain why there is some arbitrary number of 100 million satoshis.

The current price is about $0.61 for 1000 uB.
6  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: $25000 Coding Contest: Show us what you can do with MasterCoin, every entry wins on: October 18, 2013, 05:49:56 AM
Fix the "implimented" typo on, it's bugging me Smiley
7  Bitcoin / Mining speculation / Re: Is this a bubble? on: September 27, 2013, 11:04:40 PM
No but you could say the speed increase we've enjoyed over the past decades will hit a brick wall.

The point is that CPU speeds won't suddenly fall, because they aren't in a bubble.
8  Bitcoin / Mining speculation / Re: USB Miner 330 MHs Profit? on: September 06, 2013, 09:37:16 AM
you can make good profit if you make asicminer farm instaed of one asicminer

If one ASIC miner is not profitable, adding more doesn't make them any more profitable.

If one ASIC miner loses 10% of your money spent on the device, then 5 ASIC miners also lose ~10% of your money spent on the devices.
9  Bitcoin / Mining speculation / Re: Allow me to drop some maths (so i can cry my soul out) on: August 29, 2013, 11:47:58 PM
If it makes you feel any better, you ignore the fact that if those chips had arrived then you would not be hashing at the current difficulty, because the current difficulty would be much higher (you wouldn't be the only one to get those chips!), and your return would be much lower.
10  Economy / Computer hardware / [ on: August 29, 2013, 07:20:03 PM
11  Economy / Digital goods / Re: [WTS] 192 BFL chip credits for $50 ($0.26 each) on: August 28, 2013, 05:33:36 AM
I will take it. As BTC is 132 USD per BTC, this will be costing 0.38 BTC
Let me know the address to which i can pay it. As i believe you are trust-able, i do not need an escrow Smiley

I appreciate that!

However they just sold on bitmit. Sorry!
12  Economy / Digital goods / [Sold] 192 BFL chip credits for $50 ($0.26 each) on: August 26, 2013, 04:40:05 AM
I have 192 BFL chip credits for sale. $50 for all of them. That is $0.26 each.

I will accept BTC as payment, escrow via Bitmit.
13  Economy / Computer hardware / [ on: August 22, 2013, 08:12:44 AM
14  Economy / Economics / Re: Evidence shows stock splits tend to increase stock prices on: July 05, 2013, 02:43:52 PM
Except bitcoin isn't a stock.

Right.  And stocks are NOT divisible so if you want to buy Apple you need $400+ for one share.  While this does not cause most investors problems, it prevent some purchases.  

Bitcoin is already divisible.  It does not need to be split as it can already be split by the user.

The price increase effect is due to investor psychology, not due to some tiny investors being able to buy $200 worth of shares. Even if a 100000 people bought 1 share each because apple split from $400 to $200 it wouldn't have a very significant effect on AAPL.

I think OP has a good point.
15  Bitcoin / Hardware / Re: The ASIC device scams are getting a little fancier. on: May 23, 2013, 07:16:10 PM
Where did you even find this? Just curious.

They bought a press release here:
16  Bitcoin / Hardware / The ASIC device scams are getting a little fancier. on: May 23, 2013, 06:49:13 PM

Obvious scam is obvious. Don't preorder these.
17  Economy / Speculation / Re: Doc Brown predicts the price. on: March 13, 2013, 05:33:12 AM
Or if you prefer...

18  Economy / Speculation / Doc Brown predicts the price. on: March 13, 2013, 05:32:07 AM
In response to jimgolian's explanation of the fork, here is Doc Brown's explanation of the price.

19  Bitcoin / Bitcoin Discussion / Re: Win 10 BTC: Guess the price on February 1st (no entry fee) on: January 29, 2013, 07:26:58 PM
20  Economy / Trading Discussion / Re: Canadian Interac e-Transfer safe? on: January 22, 2013, 04:47:35 AM
I believe that once you accept the Interac transfer and the funds are in your account, there can be no chargeback.

That is incorrect.

Interac e-Transfer is reversible. This is why canadianbitcoins and cavirtex both stopped receiving funds this way.
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