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Author Topic: BIT parity - the rise of the BIT against world fiat currencies and other things  (Read 831 times)
molecular
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July 13, 2014, 09:47:19 AM
 #1

I found this gem: Bitcoin parity: what is a bitcoin worth?

Let's do this with the "bit".

Here's the bit proposal again:

Quote
1 satoshi = smallest unit, pretty much in general use today
1 bit       = 100 satoshi, eventually every day use, coffee, sandwiches, etc.
1 XBT     = 1 bit, should be the official symbol on all exchanges, forex, etc.
1 BTC     = 1000000 bits = kept for dealing with larger amounts, may fade

1 Bitcoin/bitcoin as a currency unit fades away

Bitcoin = the Bitcoin protocol

Notice that 1 microBitcoin = 100 satoshi = 1 bit = 1 XBT

So, what can you buy for 1 bit?

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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molecular
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July 13, 2014, 09:50:31 AM
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For 1 bit, one can currently buy:

  • 16 Iranian Rial
  • 13 Viet Nam Dong
  • 7 Indonesian Rupiah
  • 1.17 Colombian Peso

(it seems I'm missing some currencies here)

next up in terms of world fiat currencies is the South Korean Won, which can be bought for 1 bit when the price of 1 Bitcoin reaches 981 USD.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
theonewhowaskazu
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July 14, 2014, 06:27:57 AM
 #3

For 1 bit, one can currently buy:

  • 16 Iranian Rial
  • 13 Viet Nam Dong
  • 7 Indonesian Rupiah
  • 1.17 Colombian Peso

(it seems I'm missing some currencies here)

next up in terms of world fiat currencies is the South Korean Won, which can be bought for 1 bit when the price of 1 Bitcoin reaches 981 USD.

How about yen? That seems like a rather convenient thong to compare to.

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July 14, 2014, 06:41:37 AM
 #4

note to myself, 1 bit = 0.000001 BTC(1e-6)

Looking to review Bitcoin / Crypto mining Hardware.
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