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

[Adrian-x]

mBTC is logical as does every SI unit (from KBTC all the way to uBTC). Bits is ridiculous.

the slang for uBTC is bits, and the SI unit for 1BTC is known as a MegaBit  . if you don't like my Bits call them what you like.

Did they change the bit standard to equal 1 uBTC? It was some other different value before ...

I understood that 1 uBTC = 1 bit
http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

[ChrisML]

PUMPING!!!!!

[Krabby]

bits is good, I don't think people could stand buying something with the name which implies fractions of a 'coin' (even though it is (and that we use ml)).

[JorgeStolfi]

Every time you buy a bitcoin, you're giving Hitler a punch in the face.

Is it really?

I wonder what the neo-nazis, Aryan supremacists, Ku Klux Klansmen etc. think of bitcoin.  (Any pointers?)

At least some posts I saw on this forum (not on this thread, IIRC) were more than a bit worrying in that regard.   

(By the way, I must say that this thread, besides having the highest "liquidity" by far in this forum (often the only one that shows on my watch list), and the broadest variety of topics, also has overall the best karma.  Most people here are speculators who just want to get rich by outsmarting other speculators -- a goal that I can't find fault with.  Some of the other threads, on the other hand, would provide abundant material for several PdD theses in clinical psychiatry.  I don't like American football at all, but would rather hang out in a sports bar than in a lunatic asylum.  )

[adamstgBit]

mBTC is logical as does every SI unit (from KBTC all the way to uBTC). Bits is ridiculous.

the slang for uBTC is bits, and the SI unit for 1BTC is known as a MegaBit  . if you don't like my Bits call them what you like.

Did they change the bit standard to equal 1 uBTC? It was some other different value before ...

I understood that 1 uBTC = 1 bit
http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

its not offical till someone makes a fancy looking color coded graphic displaying all the different denominations of bitcoin

[hd060053]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

[podyx]

[ChrisML]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

I love that bot. $600> tonight?

Would love an epic night pump! (no homo)

[wachtwoord]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

I love that bot. $600> tonight?

Would love an epic night pump! (no homo)

Willy!

[ChrisML]

BTC-E is pulling along.

Huobi is being the bitch this time. Or, as always.

[akujin]

Damn bitfinex! Y u no pumping? 

[Peter R]

its not offical till someone makes a fancy looking color coded graphic displaying all the different denominations of bitcoin

From DennisD7 of r/Bitcoin:

http://www.reddit.com/r/Bitcoin/comments/24m4ps/proposed_shape_for_the_bits_symbol_is_a_square/

[kurious]

Well Adam - you asked for graphics!

[Marbit]

What is 500,000 bits anyway? So have people stopped pushing mBTC and now they want an even smaller unit? Just stick with BTC as the unit.... it's getting ridiculous.... next is nanobit? satoshi? Maybe we should schedule a unit change every 2 years....

If it becomes necessary every two years, I will be quite happy.

If BTC moves like that in price, I'll be quite happy. But I'll be quite annoyed it's actually accompanied by a push to repeatedly change the unit. Just seems like it makes things perpetually confusing.

The confusion might be greater for someone telling you the price of a coffee in BTC.

After a few decimal places, well - it might make sense that you would want a more sensible unit to talk about, one day....

"How much is the coffee" must produce a sensible answer - so the 'units debate' is not too ridiculous.

Even if I often seem to be on the losing side of it!

I kind of feel like if people are communicating in different units, and displaying their wallet balances in different units, that inevitably many will accidentally send orders of magnitude too much or too little. Problematic with an irreversible payment method.

[RandomPedestrianN9]

What is 500,000 bits anyway? So have people stopped pushing mBTC and now they want an even smaller unit? Just stick with BTC as the unit.... it's getting ridiculous.... next is nanobit? satoshi? Maybe we should schedule a unit change every 2 years....

If it becomes necessary every two years, I will be quite happy.

If BTC moves like that in price, I'll be quite happy. But I'll be quite annoyed it's actually accompanied by a push to repeatedly change the unit. Just seems like it makes things perpetually confusing.

The confusion might be greater for someone telling you the price of a coffee in BTC.

After a few decimal places, well - it might make sense that you would want a more sensible unit to talk about, one day....

"How much is the coffee" must produce a sensible answer - so the 'units debate' is not too ridiculous.

Even if I often seem to be on the losing side of it!

I kind of feel like if people are communicating in different units, and displaying their wallet balances in different units, that inevitably many will accidentally send orders of magnitude too much or too little. Problematic with an irreversible payment method.

Oooooooooooooops.

[Richy_T]

Yaknow, whenever something great is built, there's always someone who comes along and wants to change it all about or otherwise vandalize it just so they can say "I was part of that". This is a solution looking for a problem.

If you want square "bits" go make yet another alt-coin.

[adamstgBit]

its not offical till someone makes a fancy looking color coded graphic displaying all the different denominations of bitcoin

From DennisD7 of r/Bitcoin:

http://www.reddit.com/r/Bitcoin/comments/24m4ps/proposed_shape_for_the_bits_symbol_is_a_square/

thats a good start.

[RandomPedestrianN9]

Yaknow, whenever something great is built, there's always someone who comes along and wants to change it all about or otherwise vandalize it just so they can say "I was part of that". This is a solution looking for a problem.

If you want square "bits" go make yet another alt-coin.

+ infinity points

[oda.krell]

Eh, sorry to rain on your parade guys, but in all honesty, the entire "should we talk abot bit or ubit or mBTC" discussion only matter if Bitcoin ever becomes a unit of account. And frankly, I don't see that happening for a long time yet. (I mean it: long time. A human generation, maybe).

And for the other aspects, exchange medium, store of wealth, it doesn't matter one bit (hur hur) what it's called... gold bugs had to wrap their head around the rather impractical 'ounces' for a while, and that never stopped adoption either.

What I'm saying is, discuss away how to call the fractions of a coin, but I tend to think, it won't matter either way.

[hyphymikey]

How about bitcoins and satoshis? It's hard to get confused with those two denominations.