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Author Topic: Use code XBT, not BTC for bitcoins  (Read 8833 times)
franky1
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May 04, 2014, 10:01:50 PM
 #81

XBT for forex BTC, BTC and bitcoin for common people
GBP for forex £, quid and pound for common people
USD for forex $, bucks and dollar for common people

now i think that wraps up the argument

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molecular
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June 10, 2014, 09:08:30 PM
 #82

After nearly two years since this thread was started XBT has now been added to Wikipedia by an official editor. The usage by xe.com was decisive.

http://en.wikipedia.org/wiki/Bitcoin

Some companies thinking of representing bitcoin in their systems will check this source.


Hmm, from above page:



seems yahoo chose BTC: http://finance.yahoo.com/q?s=BTCUSD=X

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June 10, 2014, 10:08:41 PM
 #83

BTC forever!! No way I'm switching  Cheesy
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June 10, 2014, 10:14:04 PM
 #84


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June 10, 2014, 10:31:31 PM
 #85

Maybe one day all people will use xbt for practical reasons, but until that day btc it's so much better.

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Keep it dense, yeah?


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June 10, 2014, 11:01:14 PM
 #86

I don't think that anybody is pretending that BTC is a "good international abbreviation", I think that it was just a term that came with the most peoples' exposure to Bitcoin.

It's funny how you would turn to ISO 4217 Currency Codes for something that generally isn't recognised as a currency Internationally.

But you have a point, it would take some doing - there would be a lot of confusion, which could be reduced by rolling the changes out responsibly. No doubt a few people will get scammed in the process. Are there any coins squatting on the abbreviation 'XBT'?

molecular
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June 11, 2014, 07:43:20 AM
 #87

Maybe one day all people will use xbt for practical reasons, but until that day btc it's so much better.

I kinda liked the idea to use BTC for 1 Bitcoin, and XBT for 100 satoshis. That way trading / financial software can cope (only 2 decimals) with XBT.

1 XBT = 1 bit = 1 mBit = 100 satoshis

1,000,000 XBT = 1 BTC


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solex
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100 satoshis -> ISO code


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June 11, 2014, 08:08:33 AM
 #88

Maybe one day all people will use xbt for practical reasons, but until that day btc it's so much better.

I kinda liked the idea to use BTC for 1 Bitcoin, and XBT for 100 satoshis. That way trading / financial software can cope (only 2 decimals) with XBT.

1 XBT = 1 bit = 1 mBit = 100 satoshis

1,000,000 XBT = 1 BTC



Yes agreed.

In March last year when I started a thread promoting XBT I thought that the lack of an ISO code was a major handicap. It is, but it was only recently that I realized the 8 decimal places is an even bigger handicap. So assigning the ISO without having a unit for 100 satoshis is putting the cart before the horse.

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June 11, 2014, 09:17:18 AM
 #89

I think it is too late to switch now. Too many people are used to using BTC.

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June 11, 2014, 05:29:42 PM
 #90

I think it is too late to switch now. Too many people are used to using BTC.

It is not too late to switch. I have seen several places that use the XBT abbreviation. I works well for places that do foreign exchange, where you see the other currency codes. We will see over time, but I suspect that soon everybody will recognize both XBT and btc as abbreviations for bitcoins, just as you might see gold abbreviated XAU or Au, depending on the context.

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June 11, 2014, 05:37:38 PM
 #91

I think it is too late to switch now. Too many people are used to using BTC.

I think that franky1's post summed it up best:

XBT for forex BTC, BTC and bitcoin for common people
GBP for forex £, quid and pound for common people
USD for forex $, bucks and dollar for common people

now i think that wraps up the argument

That there makes sense, how BTC should be used as an informal reference to the actual 'currency'. That would therefore mean that it isn't too late to change. Technically it's never too late, just that the longer you leave it, the longer it takes to establish itself.

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June 12, 2014, 12:59:29 AM
 #92

Lol...  Trendsetter fails...

BittBurger
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June 12, 2014, 01:04:43 AM
 #93

Lol...  Trendsetter fails...

lol

Bitcoin's true purpose alluded-to in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
https://blockchain.info/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b?show_adv=true
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