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Author Topic: 2013-01-16 casino.org - Bitcoin: What’s Current in Currency  (Read 993 times)
julz
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January 16, 2013, 10:38:34 AM
 #1

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Bitcoin: What’s Current in Currency

Jenni Rehfield
2013-01-16


http://www.casino.org/blog/bitcoin-whats-current-in-currency/


We all remember the joys of amassing colored paper faux dollars, tiny red plastic hotels and little green houses while playing the game of Monopoly as kids; now a decentralized digital currency called Bitcoin has brought that game to life with a peer-to-peer form of money that is rapidly gaining acceptance as a practical way to handle internet transactions
...

Will Bitcoins become the way American poker players can finally relax and get back to online play without having to worry about asset seizures by the Feds? Maybe, and maybe not. The currency has some strong proponents, and others who see it as a ticking financial time bomb.

...

It offers some risks and some potential rewards, but mostly it offers a new adventure in financial interchanges that is likely to change how business is done on the internet for many years to come. And with an estimated $4 to 6 billion U.S. gaming market at stake, you can bet that Bitcoin will be going all in for the American online poker dollar.

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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marcus_of_augustus
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January 16, 2013, 10:24:52 PM
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Interesting article but I don't think Satoshi had anything to do with naming the 'satoshi' , unless eponymously has been misused in this instance.

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auspices of pseudonymous developer Satoshi Nakamoto, who eponymously named the currency’s smaller units “satoshis” and issued 100 million to be used across the net.

NB: I think you will find the first actual reference to the 'satoshi' as the smallest unit of a bitcoin (1e-8 btc) naming will be found in this post of mine in the thread discussing conventions for sub-units ... with a prompting from ribuck and kiba, the 'satoshi' was born ... but Satoshi himself was never part of that conversation .... AFAIK  Wink

https://bitcointalk.org/index.php?topic=3574.msg50647#msg50647

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January 17, 2013, 12:28:10 AM
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Are other denominations of bitcoins named? We could have Rothbards, Pauls, and heck I'd even throw Schiffs in there given his libertarian views despite the fact that he doesn't see the bitcoin as having value...yet.

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January 17, 2013, 01:47:43 AM
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Lets call 0.001 BTC Pokémons!
kiba
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January 17, 2013, 03:07:49 AM
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Interesting article but I don't think Satoshi had anything to do with naming the 'satoshi' , unless eponymously has been misused in this instance.

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auspices of pseudonymous developer Satoshi Nakamoto, who eponymously named the currency’s smaller units “satoshis” and issued 100 million to be used across the net.

NB: I think you will find the first actual reference to the 'satoshi' as the smallest unit of a bitcoin (1e-8 btc) naming will be found in this post of mine in the thread discussing conventions for sub-units ... with a prompting from ribuck and kiba, the 'satoshi' was born ... but Satoshi himself was never part of that conversation .... AFAIK  Wink

https://bitcointalk.org/index.php?topic=3574.msg50647#msg50647


I am not sure if ribuck or me was the origin of satoshi as smallest unit of bitcoin.

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January 17, 2013, 03:28:58 AM
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Are other denominations of bitcoins named? We could have Rothbards, Pauls, and heck I'd even throw Schiffs in there given his libertarian views despite the fact that he doesn't see the bitcoin as having value...yet.

The problem with them is that they are too political(thus will never be universally recognized by bitcoiners) and they have nothing to do with the development of cryptocurrency technology.

Satoshi is a lot more suitable than anybody else, because he invents bitcoin, and when he disappeared, he becomes a symbol...like batman.

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January 17, 2013, 04:45:40 AM
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I agree that names are too political and probably won't be accepted by bitcoiners. Ultimately though, I believe that fractions of bitcoins will have nicknames. Saying "0.0000001 BTC" is not practical.

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notme
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January 17, 2013, 05:17:33 AM
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I agree that names are too political and probably won't be accepted by bitcoiners. Ultimately though, I believe that fractions of bitcoins will have nicknames. Saying "0.0000001 BTC" is not practical.

That would be 10 satoshis.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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January 17, 2013, 09:51:28 AM
 #9

I agree that names are too political and probably won't be accepted by bitcoiners. Ultimately though, I believe that fractions of bitcoins will have nicknames. Saying "0.0000001 BTC" is not practical.

That would be 10 satoshis.

or 0.10 microcoins (µBTC).

I know this because Tyler knows this.
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