Campaign for XBT. A new ISO Currency Code is required for Bitcoin

[kokojie]

When BTC market cap is large enough (something like 5B), we can just bribe Bhutan to switch to BTC as their official currency, and change their ISO code to BTC (currently BTN). Then BTC will become the official ISO name for Bitcoins.

[potato5491]

There is no reason to think that by adopting an X** designator the BTC notation will fall out of use. Most countries have ISO designators for their currencies that are not used in day to day speech or writing. For example consider the Japanese Yen. Its ISO is JPY but YEN is frequently used. And there is the Y with two strikethroughs (don't know how to type that on here  ), and the characters in the Japanese language.

An ISO compliant designator is likely to make it easier to handle Bitcoins formally on exchanges alongside other currencies and metals, minerals etc. It is likely that merchants and consumers will continue to predominantly use BTC or BTC.

[tkbx]

How about we just use BTC until it's so commonly accepted that ISO just follows along?

This. Very this.

[solex]

How about we just use BTC until it's so commonly accepted that ISO just follows along?

This. Very this.

...it won't happen. BTC belongs to Bhutan. They have a minor currency unit beginning "C" so they are probably already using BTC internally in some of their systems!

Bitcoin needs a strategy to head off a future attack by central banks. Sticking with BTC as a first and last resort is like trying to swim the East River wearing concrete boots. It is not a smart strategy.

[whitenight639]

When BTC market cap is large enough (something like 5B), we can just bribe Bhutan to switch to BTC as their official currency, and change their ISO code to BTC (currently BTN). Then BTC will become the official ISO name for Bitcoins.

Lets actually do this, we can buy Bhutan, Kick out central bankers and any oppressive governments that may exist, we can set up legitimate companies and exchanges that trade bitcoin for other currencies, we can invest in infastructure and charitable causes and create a "utopian libertarian state" lol well I'm a dreamer but it would showcase what a fair currency system could achieve (with generous donations).


My vote BTC screw ISO making us all conform to world standards is nessasary in some things but can also lead the way for the whole globalist orwellian nightmare were heading to. If they can accept EUR even though its not a country why can't they accept BTC?

[Stardust]

Buying Bhutan is unrealistic, and do we really want Bitcoin to loose it's international status for "BTC"?  I much rather see Bitcoin among XAU, XAG, etc, than among the corrupt curriencies like USD, EUR, JPY, etc.

Actually I hope buying Bhutan never happens.  I don't want history to remember the Buthanese ASIC Design and Development Death Camps, Voorhees Harem, and the Karpeles years of terror.  And the name of Satoshi Nakamoto equated with Satan.  Religion should be interesting since there will be a conflict of interests between Luke Dash-jr and IBB, whats clear there would be no trace left of Buddhism.

Remember Lenin, Hitler, Mao, and Kim Il Sung all started with good intentions...

[Sukrim]

[...] buy Bhutan, Kick out central bankers and any oppressive governments that may exist[...]

You have ZERO clue about Bhutan apparently!
It's a great country and looking down on them with disrespect or mockery won't get you any friends there. I'm not sure if it is even smart to consider this option (trying to get BTC by convincing Bhutan to adopt Bitcoin) though, X (international) symbols anyways would make more sense for Bitcoin, and BTC can still stay as "inofficial" abbreviation, just like YEN.

[Bastet]

I'll throw my .02 bitcoins in...

How's about XCC for Crypto-Currency, eh?

[Raoul Duke]

I'll throw my .02 bitcoins in...

How's about XCC for Crypto-Currency, eh?

So, all crypto-currencies would share that code?

[ArticMine]

Why not use XBT for 1 millibitcoin so 1000 XBT = 1 BTC? By the time that Bitcoin gets widely traded on Forex it will be a far more reasonable unit anyway.  In any case one XBT by the above defintion is already worth more than one JPY and has been so for a while.

[Sukrim]

In any case one XBT by the above defintion is already worth more than one JPY and has been so for a while.

You can also compare it to XAU or XPT, then things look VERY differently. I like the idea though, as it might allow for coexistence of 1 BTC = 100 000 000 Satoshis and 1 XBT = 100 000 Satoshis.

On the other hand it might confuse people who hear the "21 million cap" story and then see that there will be 21 billion XBT.

Has anyone actually already inquired at SIX or at the Bitcoin foundation about their next steps regarding this?

[Killdozer]

Why not use XBT for 1 millibitcoin so 1000 XBT = 1 BTC? By the time that Bitcoin gets widely traded on Forex it will be a far more reasonable unit anyway.  In any case one XBT by the above defintion is already worth more than one JPY and has been so for a while.

Wow that's a cool idea! That way both BTC and XBT will be still used.

[btcusr]

Why not use XBT for 1 millibitcoin so 1000 XBT = 1 BTC? By the time that Bitcoin gets widely traded on Forex it will be a far more reasonable unit anyway.  In any case one XBT by the above defintion is already worth more than one JPY and has been so for a while.

Good one. We need a unit to represent 1 milliBit.

When exchanges use XBT, would look entirely different, and generate lots of new interest.

Buying 10 XBT for about ~$2 is entirely different than buying 1 BTC for ~$200.

Hope this new XBT would cross US$ parity and silver parity soon.. 

#bitcoinfoundation, are you listening..?!?!

[nade]

In this site they are using XBT:

http://www.xe.com/currencyconverter/convert/?Amount=1&From=XBT&To=USD

[CompNsci]

Personally I like BTC for one bitcoin. Bhutan may have to adjust.

[solex]

Wow! Bloomberg have a Bitcoin fx-rate ticker and history, and are using XBT

http://btcgeek.com/bitcoin-ticker-arrives-on-bloomberg/
http://techcrunch.com/2013/08/09/bitcoin-ticker-available-on-bloomberg-terminal/

Only available for internal (employee) use at present.  

Edi: (Pic courtesy of Zerohedge and their contacts). 
Anyone who wants a $1000 bitcoin - this had to happen first...

[btcusr]

great.. XBT is being adopted with Forex sites..

they already deal with XAU and XAG

[solex]

Excellent development. Bitcoin price info and news now available to 320,000 Bloomberg Professional subscribers.



The choice of Coinbase and Kraken reflects the conservative position of selecting price sources which are furthest down the path of full compliance with US money transmission laws. Coinbase is a good proxy for Bitstamp with regard to pricing.
 

[Crossbow376]

So right now, only people in financial world (such as XE and Bloombeg) use XBT, am I right?

[namecoin]

So right now, only people in financial world (such as XE and Bloombeg) use XBT, am I right?

also Kraken, along with a few others.