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Author Topic: 1 Millibitcoin = 1 Millibit, 1 Bitcoin = 1 Bit, How could that be wrong?  (Read 2108 times)
klabaki
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May 03, 2014, 01:34:18 AM
 #1

The title says everything.

Discuss!

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Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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klabaki
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May 03, 2014, 01:57:37 AM
 #2

it doesn't even make sense

In the crypto-currency space, there's a new tendency to drop the word "coin" and just call it whatever the coin was named for.

E.g.: DOGE was announced as "Dogecoin", but nowadays people just say "Doge".

The same holds true for most other coins, i.e.:

1 Duckcoin = 1 Duck
1 Goldcoin = 1 Gold
1 Bitcoin = 1 Bit



However, some people promote differently, which is confusing.

That's why I cleared things up.

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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May 03, 2014, 01:59:02 AM
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Ok, I get the 1 dogecoin=1 doge, bitcoin=bit etc etc, but....what are you asking though???that's the real question.

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klabaki
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May 03, 2014, 02:03:55 AM
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Ok, I get the 1 dogecoin=1 doge, bitcoin=bit etc etc, but....what are you asking though???that's the real question.

I'm 100% on your side!
There's actually nothing to ask about it. There's no question.

1 Bitcoin = 1 Bit

However, there are quite a few people who think that 1 Bitcoin is not 1 Bit.

And I am complaining about these people.
That's what this thread is about.

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
franky1
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May 03, 2014, 02:14:20 AM
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1 doge coin = an alt called doge

1 gold coin = an alt called gold

but bitcoin is simply bitcoin its not a bit of a coin.. its just bitcoin..

no one in the last 5 years has said "i have 2 bits".. they have always said they have 2 bitcoin.  bitcoin is a single word.

yet the alt coins are hidden double barrel words. doge-coin (hidden meaning no - ) and so people can freely say doge, gold, feather, terra etc

 

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May 03, 2014, 02:21:20 AM
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1 doge coin = an alt called doge

1 gold coin = an alt called gold

but bitcoin is simply bitcoin its not a bit of a coin.. its just bitcoin..

no one in the last 5 years has said "i have 2 bits".. they have always said they have 2 bitcoin.  bitcoin is a single word.

yet the alt coins are hidden double barrel words. doge-coin (hidden meaning no - ) and so people can freely say doge, gold, feather, terra etc

 

I have to agree. Every since 2011, I've been calling a 'Bitcoin' a 'Bitcoin'. I've never said anything like a Bit, or anything like that for fun. Only if it's a unit of a Bitcoin, like a Satoshi, KBTC, or a MBTC.
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May 03, 2014, 02:31:46 AM
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1 doge coin = an alt called doge

1 gold coin = an alt called gold

but bitcoin is simply bitcoin its not a bit of a coin.. its just bitcoin..

no one in the last 5 years has said "i have 2 bits".. they have always said they have 2 bitcoin.  bitcoin is a single word.

yet the alt coins are hidden double barrel words. doge-coin (hidden meaning no - ) and so people can freely say doge, gold, feather, terra etc

Bitcoin was named for "bit", which means "binary digit". It's one eighth of a byte.

So, the word "bitcoin" was created from "bit + coin" in the very same way like "goldcoin" was created from "gold + coin". I can't see a difference.

Also, there are a lot of people who say "millibit" for "millibitcoin", and 1 millibit is 1 thousandth of a bit(coin) in the very same way like 1 milligram is 1 thousandth of a gram.

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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May 03, 2014, 03:09:48 AM
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Bitcoin was named for "bit", which means "binary digit". It's one eighth of a byte.

So, the word "bitcoin" was created from "bit + coin" in the very same way like "goldcoin" was created from "gold + coin". I can't see a difference.

Also, there are a lot of people who say "millibit" for "millibitcoin", and 1 millibit is 1 thousandth of a bit(coin) in the very same way like 1 milligram is 1 thousandth of a gram.

all im reading from you is waffle and no logic in grammar.

bitcoin is bitcoin.... end of

i know i know you want to have a world where 100 satoshis is a bitcoin. but in your utopian dream of shouting to the world "i have a bitcoin" the rest of the world will just be laughing at you for only having 100 satoshi's..

you might aswell say in your utopian paradise that an ounce of gold is also a tonne and shout to the world you have several tonnes of gold, where in reality you only have a couple ounces

the world knows that a bitcoin is 100,000,000 satoshi's and so a bitcoin will always be 100,000,000 satoshis. and a bit.. (a totally separate word, will be a measurement of something smaller)

here is another examples.
an APP is not apple, an App is a small part of what apple is all about, apple has alot more involved then just APP's
and your use of millibits as your rebuttle
well applications uses the word app, but again an application is not Apple, its only part of Apple's infrustructure. so yes people have used words like app's, application's for years. that does not make app's or applications equal to Apple.

where as people have separated dogecoin and right from the start called them doge's and called terracoins terra's, etc, etc

bitcoin and litecoin are first generation cryptos and treated as single words.
all the other alts are the distant inbred cousins/copies and treated like double barrel names which are shortened off by taking the word coin away.
 

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May 03, 2014, 03:19:00 AM
 #9

your premise assumes that dogecoin and goldcoin are correct and represent standards that should be followed.

They're just alt digital currencies.  One being a huge joke.  I don't see why bitcoin must follow their lead.
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May 03, 2014, 03:23:26 AM
 #10

your premise assumes that dogecoin and goldcoin are correct and represent standards that should be followed.

They're just alt digital currencies.  One being a huge joke.  I don't see why bitcoin must follow their lead.

OK. This is a valid point.

However, "millibit" is commonly accepted as short form of "millibitcoin", so, by the argument of similarity, one would assume that "bit" will be accepted as short form of "bitcoin".

1 millibit = 1 millibitcoin
1 bit = 1 bitcoin

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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May 03, 2014, 03:39:36 AM
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Your proposal wouldn't have anything to do with wanting to scam people into buying 'zibs' would it? https://bitcointalk.org/index.php?topic=522958.20

1BTC = 1 000 000 bits. Nice try but no one wants zibs

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May 03, 2014, 03:40:57 AM
 #12

it doesn't even make sense

In the crypto-currency space, there's a new tendency to drop the word "coin" and just call it whatever the coin was named for.

E.g.: DOGE was announced as "Dogecoin", but nowadays people just say "Doge".

The same holds true for most other coins, i.e.:

1 Duckcoin = 1 Duck
1 Goldcoin = 1 Gold
1 Bitcoin = 1 Bit



However, some people promote differently, which is confusing.

That's why I cleared things up.


Yeah, on the surface you have some logic there,
but in this case it doesn't really work.

Here's why:

A Bitcoin is a LARGE unit of currency, with many smaller
units under it.  However, a "bit" is the smallest unit of
digital information possible (either a 0 or 1 in binary terms).
Plus, in colloquial, a "bit" is a SMALL amount of something.

See what I mean?
 

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May 03, 2014, 03:49:56 AM
 #13

Call I that ever you want.  I will.

klabaki
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May 03, 2014, 03:57:48 AM
 #14

A Bitcoin is a LARGE unit of currency, with many smaller
units under it.  However, a "bit" is the smallest unit of
digital information possible (either a 0 or 1 in binary terms).
Plus, in colloquial, a "bit" is a SMALL amount of something.

See what I mean?

I can see what you mean. The problem is, that if I try to follow your logic, I'm getting very confusing results:

You say that 1 bit = 100 satoshis, so 1k bit (pronounced: "one kilobit") would be 100 000 satoshis, i.e. the very same thing like a millibit.

So, then we would end up with having 1 kilobit = 1 millibit, which is definitely confusing.

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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May 03, 2014, 03:58:13 AM
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many people keep thinking bit as in binary when referencing bitcoin. yet bitcoin is not talking about binary coins or anything.. bitcoin is purely bitcoin
again
bitcoin does not mean binary digit coin.. bitcoin is just bitcoin.. it is a name of its own. its not a formation of words. bitcoin is just bitcoin

ok ill give up on the analogies of previous posts and pretend some people have some form of english education.

bitcoin = noun (a name, a brand)
binary digit coin = an adjective (describing it)

bitcoin is a single word brandname not a description.

and as for the millibit, mBTC, uBTC... arguments. will everyone please read the other threads.. the consensus so far is to not use mBTC, uBTC as they are only temporary and will need to be replaced with smaller denominations. thus moving straight to sats and bits is the higher voted choice by many. making millibit a word that people wont use.. and making kbits the dominant use of numbers.

so get with the program.. there are bitcoins and satoshi's and in the future there will be satoshi's, bits and bitcoins.. the mBTC argument is just a flash in the pan that wont happen as it would cause confusion and will be changed to lower denominations by the time people get used to it.. so basically worthless even trying to make mBTC/millibits popular

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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May 03, 2014, 04:15:54 AM
 #16

A Bitcoin is a LARGE unit of currency, with many smaller
units under it.  However, a "bit" is the smallest unit of
digital information possible (either a 0 or 1 in binary terms).
Plus, in colloquial, a "bit" is a SMALL amount of something.

See what I mean?

I can see what you mean. The problem is, that if I try to follow your logic, I'm getting very confusing results:

You say that 1 bit = 100 satoshis, so 1k bit (pronounced: "one kilobit") would be 100 000 satoshis, i.e. the very same thing like a millibit.

So, then we would end up with having 1 kilobit = 1 millibit, which is definitely confusing.

*I* never said a bit should be 100 satoshis...(others have suggested that).
But you're right as far as , whatever system you use needs to be internally consistent.
 


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May 03, 2014, 04:19:09 AM
 #17

and as for the millibit, mBTC, uBTC... arguments. will everyone please read the other threads.. the consensus so far is to not use mBTC, uBTC as they are only temporary and will need to be replaced with smaller denominations. thus moving straight to sats and bits is the higher voted choice by many. making millibit a word that people wont use.. and making kbits the dominant use of numbers.

so get with the program.. there are bitcoins and satoshi's and in the future there will be satoshi's, bits and bitcoins.. the mBTC argument is just a flash in the pan that wont happen as it would cause confusion and will be changed to lower denominations by the time people get used to it.. so basically worthless even trying to make mBTC/millibits popular

The point that you miss is that "millibit" is already popular, because it reached dollar parity.

Bitcoinity.org even switched to millibits as the default unit.

It's called "millibits" and not "kilobits".

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
klabaki
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May 03, 2014, 04:21:00 AM
 #18

*I* never said a bit should be 100 satoshis...(others have suggested that).
But you're right as far as , whatever system you use needs to be internally consistent.

Oops, sorry. I thought it was inferred when you said that "bit" (as a currency unit) should mean something small.

Edit: I just read your post again. My apologies.

Ƶ = µBTC

Wer den Satoshi nicht ehrt, der ist den Ƶibcoin nicht wert.
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May 03, 2014, 04:34:42 AM
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The point that you miss is that "millibit" is already popular, because it reached dollar parity.

Bitcoinity.org even switched to millibits as the default unit.

It's called "millibits" and not "kilobits".

your not proving anything.
you also realise that a game called dragon's tales has been using the term bitmills for 4 years to reference 0.0001btc.. yet its not common across the world.
so purely because bitcoinity RECENTLY moved to a temporary name. does not mean its internationally recognised and commonly used.

hell ill start up a website and call a bitcoin a "puzzlecoin" or a rabbitcoin.. and then people can shout to the world that its common purely because they seen it somewhere.

millibit is not common. and people IF YOU READ, will realise that making it common by consensus, changing all services to use mbtc measure, is pointless.. due to it being a temporary measure

bitcoinity tried to jump the fence early. but ended up landing in limbo, soon they will realise the changing of its measurement as being just a temporary thing and will move onto bits soon enough. but there is no point in getting everyone to use mBTC, just to confuse them more a few months later changing the measurements again to something smaller later. its much easier to just move to the smaller denomination and allow people to get accustomed to the smaller denomination without confusion or turmoil having to keep changing things due to temporary measurements.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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May 03, 2014, 04:42:26 AM
 #20

I dunno Franky.

While I agree its not common as in "common knowledge",
its getting MORE common.

for example:

www.coins.ph

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