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Author Topic: History never repeats, but it sure does rhyme..  (Read 827 times)
piecesofeight
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June 11, 2011, 04:44:37 PM
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Well... Hello all.  I found out about bitcoins a day ago, and boy, am I kicking myself for not knowing about this a few months ago!

This 8bit thing, you all know where pirates "pieces of eight" came from?

http://en.wikipedia.org/wiki/Bit_%28money%29

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In the U.S., the "bit" as a designation for money dates from the colonial period, when a common unit of currency was the Spanish milled dollar. As a way of making change, these dollars were cut into eight pie-slice shaped pieces which were called "bits". (For this reason, the whole coin was known as a "piece of eight.") Each eighth-dollar bit was then worth 12.5 cents, "two bits" was a quarter of a dollar (25 cents), "four bits" was a half-dollar (50 cents) and "six bits" was 75 cents. Because there was no one-bit coin, a dime (10 ¢) was sometimes called a short bit and 15¢ a long bit.

Bitcoin has a great and long future ahead of it.

Me heartys, I be needin' t' start me own doubloons mine, spaar a pence for an old man o'de sea?

1PF9jQserjdws3qWuDpYcTkCcafFgMHhD6

--I did try to place a link here to my first post, to explain my user name... but it was removed.
1534403654
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Jaime Frontero
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June 11, 2011, 05:16:18 PM
 #2

Well... Hello all.  I found out about bitcoins a day ago, and boy, am I kicking myself for not knowing about this a few months ago!

This 8bit thing, you all know where pirates "pieces of eight" came from?

http://en.wikipedia.org/wiki/Bit_%28money%29

Quote
In the U.S., the "bit" as a designation for money dates from the colonial period, when a common unit of currency was the Spanish milled dollar. As a way of making change, these dollars were cut into eight pie-slice shaped pieces which were called "bits". (For this reason, the whole coin was known as a "piece of eight.") Each eighth-dollar bit was then worth 12.5 cents, "two bits" was a quarter of a dollar (25 cents), "four bits" was a half-dollar (50 cents) and "six bits" was 75 cents. Because there was no one-bit coin, a dime (10 ¢) was sometimes called a short bit and 15¢ a long bit.

Bitcoin has a great and long future ahead of it.

yes - i know about that.

and i really like the thought that went into your user name.  howdy, and welcome.
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