Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[tarmi]

good day to you all.

price is going up, but volume is pathetic on all exchanges.

[SnowMonkey_CG]

Gox just touched 1.2 USD/mBTC...

no it didn't. Also stop with dumb mBTC. We don't say google costs 1mUSD.


EDIT: Now it did.

I prefer mBTC... now we're passed it $1,203/BTC, $1.203/mBTC.

[oroboras]

I prefer BTC over mBTC - as it makes me more excited! The concept of huge bundles of cash is always welcome

[lucas.sev]

The buy that pushed us over 1200USD happened at the same time as 1110 wall disappeared, so I suppose he has another 0.6k BTC worth of usd waiting.

[KieranJones1]

Gox just touched 1.2 USD/mBTC...

no it didn't. Also stop with dumb mBTC. We don't say google costs 1mUSD.

Don't act like it makes any difference. Nothing's changed. Just keep this tab open:

and you can pretend the decimal point isn't there, if you insist on reading the price of a full BTC.

I think what the bitcoin bandit could do is syphon off couple of hundred coins at a time, and just dump them on some of the latest transactions addresses to appear in bitcoin blockchain.

Imagine if you checked your wallet, and found your balance had 200 extra coins. Would you go and find out where they came from and politely return them. Or would you rush to an exchange and cash em out.

And of course, he now makes a bunch of strangers targets for the bitcoin mobsters whose money he stole.

This would be a good strategy, assuming the person behind Sheep isn't so greedy that they'll try to keep every single BTC they stole. However, all it would take is for somebody to say "hey, I just received 200 BTC from that wallet, what's up with that?" and as soon as at least one other person confirms it happened, the strategy becomes transparent.

That said, if somebody did the maths and realised that they'd acquired $200,000 in drug money, I wonder if they'd be quite as public about it as I'm suggesting!

[Dragonkiller]

You can just change bitcoinity preferences back to BTC instead of mBTC if you want.

[ChartBuddy]

[MahaRamana]

Gox just touched 1.2 USD/mBTC...

no it didn't. Also stop with dumb mBTC. We don't say google costs 1mUSD.


EDIT: Now it did.

mBTC is for miliBTC or one thousandth of a bitcoin.

Indeed, we don't say that google costs 1mUSD that would be 0.001 USD.
But people do say that google costs 1k USD per share. If the share of google would be say 22 543 USD, people would say it is 22K USD.
I think using mBTC is smart.

[kurious]

Good article about the heist - and an (alleged) name:

http://motherboard.vice.com/blog/did-one-of-the-silk-roads-successors-just-commit-the-perfect-bitcoin-scam

[hannesnaude]

Also stop with dumb mBTC.

[/quote]

...he has another 0.6k BTC worth of usd waiting.

OK, so apparently mBTC is dumb, but kBTC is not. Care to clarify your feelings on the other SI prefixes?

[JimboToronto]

I prefer BTC over mBTC - as it makes me more excited! The concept of huge bundles of cash is always welcome

One gigasatoshi is now worth about $12,000.00.  

[600watt]

Gox just touched 1.2 USD/mBTC...

no it didn't. Also stop with dumb mBTC. We don't say google costs 1mUSD.


EDIT: Now it did.

mbtc ain't dumb. actually it´s the future. no mass adoption without mbtc.

[DougTanner]

Broken out of second triangle, rally set to resume soon.

[niothor]

I think it's time to switch to uBTC 

Lets wait a year and switch directly to satoshi.

[600watt]

I prefer BTC over mBTC - as it makes me more excited! The concept of huge bundles of cash is always welcome

One gigasatoshi is now worth about $12,000.00.  

wow, gigasatoshi ... i´m lovin' it.

[rpietila]

I think it's time to switch to uBTC 

I've been wondering whether satoshi actually makes most sense to most of the people in the world. Make the transaction once and for all.

Interesting observation is that 1 lakh satoshi = 1 mBTC

1 bitcoin is already well known and will continue to be the unit of account of the rich.

For those aiming to get by, 1 satoshi will be worth about $0.01-$0.10 soon, and is a very practical unit, as well as the multiples k and M. No need to deal with decimals.

[JimboToronto]

it´s the future. no mass adoption without mbtc.

 

[prof7bit]

Gox just touched 1.2 USD/mBTC...

Also stop with dumb mBTC. We don't say google costs 1mUSD.

no, your calculations are wrong: Google costs 1 kUSD. or 1mGoogle costs 1 USD

[KieranJones1]

it´s the future. no mass adoption without mbtc.

 

The other day I ordered a pizza for 16 mBTC.

Doesn't that sound more natural to you than 0.016 bitcoins? The name "bitcoin", by invoking the noun "coin", just naturally suggests to people that it is an indivisible unit of currency. I could offer you "half a coin" of US currency, and although that's theoretically possible (I could saw the coin in half), it just doesn't really make sense when we consider what's traditionally understood by "coin".

Really, the ideal compromise would be to rename Bitcoin to "Bitgold" or similar - something that doesn't carry connotations of a whole unit by which trade is carried out - but obviously, at this point, that's almost too ridiculous to even consider. "Bitcoin" is here to stay, but if we're going to make people realise that they aren't limited to paying discrete multiples of one bitcoin, then the transition to mBTC as the principal unit of bitcoins is a good way of achieving that. It's also built into the concept of the infinitely divisible currency that we can continue to do this forever.

If and when a satoshi comes close to parity with the dollar, I'll be an advocate of switching to satoshis - and for some reason, I don't think that transition will be taken as poorly as this one has been. For some reason, people just seem uncomfortable with the term "mBTC".

P.S. the pizza thing is true, it was delicious

[KieranJones1]

For those aiming to get by, 1 satoshi will be worth about $0.01-$0.10 soon, and is a very practical unit, as well as the multiples k and M. No need to deal with decimals.

Soon ?

I prefer to directly switch to satoshis too.

I am currently printing paper wallets of 100 000/250 000 satoshis as a gift/incentive to coworkers.

And also some with "one million satoshis" which sounds great. 10 mBTC is less fun.

That seems like a good bitcoin project opportunity - has anybody made a paper wallet service which allows you to change the unit displayed on the printout?