molecular
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October 10, 2014, 05:20:33 AM |
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This is a very reasonable proposal, and will definitely increase adoption since BTC XBT will again look cheap.
Support +1.
Sooo... I wonder if bits is still useful for nickname or xbit? Exhibit seems too many syllables and doesn't flow smoothly for saying a lot. I kind of hope XBT is just referred to as bits. +1 @AstroChicks question about "who has authority": stop asking for authority, don't ask for permission. Anyone is free to use whichever unit they wish. However note that there is strong opposition both against the specific name "bits" and also for "changing the unit and confusing people". Whichever unit will be used, it will be a decision made by use.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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NotLambchop
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October 10, 2014, 11:07:25 AM |
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This is a very reasonable proposal, and will definitely increase adoption since BTC XBT will again look cheap.
Support +1.
Sooo... I wonder if bits is still useful for nickname or xbit? Exhibit seems too many syllables and doesn't flow smoothly for saying a lot. I kind of hope XBT is just referred to as bits. +1 @AstroChicks question about "who has authority": stop asking for authority, don't ask for permission. Anyone is free to use whichever unit they wish. However note that there is strong opposition both against the specific name "bits" and also for "changing the unit and confusing people". Whichever unit will be used, it will be a decision made by use. "Bit" is the national currency of Equestria.
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Biodom
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October 10, 2014, 01:56:44 PM Last edit: October 10, 2014, 02:08:34 PM by Biodom |
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This is a very reasonable proposal, and will definitely increase adoption since BTC XBT will again look cheap.
Support +1.
Sooo... I wonder if bits is still useful for nickname or xbit? Exhibit seems too many syllables and doesn't flow smoothly for saying a lot. I kind of hope XBT is just referred to as bits. +1 @AstroChicks question about "who has authority": stop asking for authority, don't ask for permission. Anyone is free to use whichever unit they wish. However note that there is strong opposition both against the specific name "bits" and also for "changing the unit and confusing people". Whichever unit will be used, it will be a decision made by use. I am with the opposition to "bits", but it does not matter, as OP said. Use determines the terms. However, the only way to logically reconcile Bitcoin foundation proposal with historical status is to use base unit of "bitcoin" (XBT) and satoshi at 1:100 of XBT. BTC can be used as a historical unit. The only thing that is required is recalculation of XBT as 100 satoshi(s). Result: Everyone with one BTC will be XBT millionaire. Although the last point is somewhat silly, the positive psychological effect is undeniable.
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Odalv
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October 10, 2014, 02:09:51 PM |
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I am with the opposition to "bits", but it does not matter, as OP said. Use determines the terms. However, the only way to logically reconcile Bitcoin foundation proposal with historical status is to use base unit of "bitcoin" (XBT) and satoshi at 1:100 of XBT. BTC can be used as a historical unit. The only thing that is required is recalculation of XBT as 100 satoshi(s). Result: Everyone with one BTC will be XBT millionaire. Although the last point is somewhat silly, the positive psychological effect is undeniable.
the infamous 10,000 XBT for pizza back in 2014 :-)
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wachtwoord
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October 10, 2014, 02:25:52 PM |
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I am with the opposition to "bits", but it does not matter, as OP said. Use determines the terms. However, the only way to logically reconcile Bitcoin foundation proposal with historical status is to use base unit of "bitcoin" (XBT) and satoshi at 1:100 of XBT. BTC can be used as a historical unit. The only thing that is required is recalculation of XBT as 100 satoshi(s). Result: Everyone with one BTC will be XBT millionaire. Although the last point is somewhat silly, the positive psychological effect is undeniable.
the infamous 10,000 XBT for pizza back in 2014 :-) Well if the proposed new definition of XBT happens in which 1000000XBT equals one Bitcoin (BTC) then it's going to be the 10 Trillion XBT pizzas in the history books
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Biodom
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October 10, 2014, 02:31:58 PM |
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I am with the opposition to "bits", but it does not matter, as OP said. Use determines the terms. However, the only way to logically reconcile Bitcoin foundation proposal with historical status is to use base unit of "bitcoin" (XBT) and satoshi at 1:100 of XBT. BTC can be used as a historical unit. The only thing that is required is recalculation of XBT as 100 satoshi(s). Result: Everyone with one BTC will be XBT millionaire. Although the last point is somewhat silly, the positive psychological effect is undeniable.
the infamous 10,000 XBT for pizza back in 2014 :-) Well if the proposed new definition of XBT happens in which 1000000XBT equals one Bitcoin (BTC) then it's going to be the 10 Trillion XBT pizzas in the history books Check your math...just 10 billion XBT (in 2009) He is referring to the current day though, with some optimistic twist. it would be 10000XBT when BTC is back to ~1000-1200 (assuming $10-12/pizza)
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mmitech
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things you own end up owning you
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October 10, 2014, 02:45:43 PM |
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This could have a double effect, it could boost the price and make dealing with Bitcoin easier, but it also could be a big confusion and slow adoption for a really simple reason, while we were talking for 5 years about only 21 million BTC to exist, people will be surprised about Trillions of XBT (which they don't get in the first place).
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Biodom
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October 10, 2014, 03:03:46 PM |
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This could have a double effect, it could boost the price and make dealing with Bitcoin easier, but it also could be a big confusion and slow adoption for a really simple reason, while we were talking for 5 years about only 21 million BTC to exist, people will be surprised about Trillions of XBT (which they don't get in the first place). Maybe, but only a small % of the population was exposed to 21 mil number and I heard Allaire (Circle) publicly referring to 2.1 quadrillion units, which are, of course, satoshi, so some were talking about it. When i recently went to look at one house, and asked about the price, the realtor simply said 'about 7', which, based on location and my knowledge of the neighborhood, I immediately translated as '700000'. I don't know why he was so coy about it and not say 700K or seven hundred thou. My point is use will determine, but nobody except early adopters would be reluctant because of 21 mil BTC vs 21 tril XBT, especially since some of them are already exposed to tril in GDP and budget numbers.
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Eastwind
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October 10, 2014, 03:04:28 PM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
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Biodom
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October 10, 2014, 03:13:19 PM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles).
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coinits
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011110000110110101110010
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October 10, 2014, 10:56:11 PM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles). Sir Richard is about to change bitcoin forever. Price to the moon! https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
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Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 0.01 btc per week.
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CMMPro
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October 10, 2014, 11:33:57 PM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles). Sir Richard is about to change bitcoin forever. Price to the moon! https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/That Dick!
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brg444
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October 10, 2014, 11:56:48 PM |
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Here is the one-week resolution chart of Bitstamp prices. I drew a resistance trendline down from the November 2013 peak and a support trendline touching the capitulations. It forms a bullish falling wedge pattern, which this site says is resolved by an upwards breakout 68% of the time. The KDJ indicator on the bottom of the chart is saying oversold as the purple line has a value less than 20. what are your thoughts on the J line nearly crossing upward the K & D line on the 1w chart the crossing looks to be a week away still but if we can maintain this week's momentum I feel that would be an extremely bullish sign considering the history of this indicator
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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Bitcopia
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October 11, 2014, 12:26:47 AM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles). Sir Richard is about to change bitcoin forever. Price to the moon! https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/Wait, what does Sir Richard have to do with this press release?
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BTCtrader71
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October 11, 2014, 12:29:25 AM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles). Sir Richard is about to change bitcoin forever. Price to the moon! https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/Wait, what does Sir Richard have to do with this press release? The chairperson of the working group, Beth Moses, works for Virgin Galactic
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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cbeast
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Let's talk governance, lipstick, and pigs.
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October 11, 2014, 12:51:36 AM |
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I'm only a casual observer of these TA discussions. The triangles and their sequences used are supposed to form patterns useful for predicting changes in price. Nobody ever makes predictions about volatility. I don't understand why they use extreme ranges as anchor points for TA lines. They are statistically insignificant. These extreme points are insignificant because they can be easily affected by individuals rather than market trends. Candles use volume distribution. Using volume distribution as weight for determining anchor points would at least make TA seem more like a statistical science. If they are going to use extreme points, they should be treated as a separate predictive factor to reflect reactivity. Instead, they seem to use the extremes of the candles over long periods of time which would heavily weight the most insignificant market activity for the predictive model.
On a different note, are there charts anywhere that analyze news, sentiment, and transaction phenomena?
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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mmortal03
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October 11, 2014, 12:55:27 AM |
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"Currencies today operate with two decimal spaces to the right ($1.00). In Bitcoin, there are currently eight so one could theoretically pay you 0.00000001 or one hundred-millionth of a Bitcoin. Not only is this confusing for consumers, it does not fit in existing systems and software for accounting practices." So the standard would already have a rounding error of at least $1.80 (0.005 bitcoins). As soon as we go up again, that will only increase...
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BTCtrader71
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October 11, 2014, 01:41:49 AM |
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I'm only a casual observer of these TA discussions. The triangles and their sequences used are supposed to form patterns useful for predicting changes in price. Nobody ever makes predictions about volatility. I don't understand why they use extreme ranges as anchor points for TA lines. They are statistically insignificant. These extreme points are insignificant because they can be easily affected by individuals rather than market trends. Candles use volume distribution. Using volume distribution as weight for determining anchor points would at least make TA seem more like a statistical science. If they are going to use extreme points, they should be treated as a separate predictive factor to reflect reactivity. Instead, they seem to use the extremes of the candles over long periods of time which would heavily weight the most insignificant market activity for the predictive model.
TA is to fundamental analysis as astrology is to astronomy. It's no accident that this thread is called "the Quality TA thread." The majority of posts in this thread have nothing to do with TA. The fact is that the best TA is ... no TA at all! Hehehehe ...
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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coinits
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011110000110110101110010
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October 11, 2014, 01:46:06 AM |
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For the Cryptonote coins, they have 12 decimal place for the coins, is it necessary? Is it better to increase the total number of coins by 10000 times and remove 4 decimal places? Would that decrease the block size?
One recent block reward of XMR is 13.828558554977, if we remove the last 8 digit, so that it is 13.8285. That will remove the dust and that value is still close to the original one, the difference is only 0.0001/13.
Interesting. I traded a small number of BTC for XMR, but it is underperforming BTC. XMR owners might need to wait much much longer (I give it 50:50 or even less to succeed, especially looking at BTC troubles). Sir Richard is about to change bitcoin forever. Price to the moon! https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/That Dick just assumed control of Bitcoin. FIXED
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Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 0.01 btc per week.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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October 11, 2014, 01:49:14 AM |
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"Currencies today operate with two decimal spaces to the right ($1.00). In Bitcoin, there are currently eight so one could theoretically pay you 0.00000001 or one hundred-millionth of a Bitcoin. Not only is this confusing for consumers, it does not fit in existing systems and software for accounting practices." So the standard would already have a rounding error of at least $1.80 (0.005 bitcoins). As soon as we go up again, that will only increase... It seems that you are getting the unit wrong. The author is NOT talking about going back 3 decimal places, but instead he is talking about going back 6 decimal places. Currently, if my calculations are correct, 6 decimal places would cause a $364.85 per BTC valuation to have an exchange price of $.00036485 per XBT - or $1 would buy you 274.09 XBTs which is 27,409 satoshis.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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