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Bitcoins reached $300
11–20 of 134 posts
Re: Bitcoins reached $300
#12Bitcoins should lose 3 zeros, like many countries do to their currencies. So 1 new Bitcoin = 0.001 old Bitcoins = $0.3 I think I'd like that more than just starting naming them something else all of the sudden, and call them Satoshis or whatever, and then when the Bitcoin reaches $10,000 we'll probably have to use new names yet again. Cutting the zeros could be a little confusing at first, but I think less confusing…
people have suggested mBTC or "millibits".
I think it's not something that can be mandated. A new terminology will naturally arise if the need is genuine.
Re: Bitcoins reached $300
#13Somewhere buried on my hard drive I have a fraction of a bitcoin that people were giving out for free when bitcoin first came out to encourage adoption.
I really need to find it, it's actually worth money now...
ps. that pizza is now worth $3 Million
Re: Bitcoins reached $300
#14Looking at the chart it doesn't seem as volatile as mainstream media leads us to believe.
It increases 50% in a week, and you don't consider that volatile?
You know, its the oscillations == volatility philosophy.
Of course only should only look at daily graphs no older than two days.
http://bitcoincharts.com/charts/mtgoxUSD#rg1460zigDailyztgSz...
Re: Bitcoins reached $300
#15Bitcoins should lose 3 zeros, like many countries do to their currencies. So 1 new Bitcoin = 0.001 old Bitcoins = $0.3 I think I'd like that more than just starting naming them something else all of the sudden, and call them Satoshis or whatever, and then when the Bitcoin reaches $10,000 we'll probably have to use new names yet again. Cutting the zeros could be a little confusing at first, but I think less confusing…
What about 8 bitcoins = 1 bytecoin
And 1 nibblecoin == 4 bitcoins.
Re: Bitcoins reached $300
#16Bitcoins should lose 3 zeros, like many countries do to their currencies. So 1 new Bitcoin = 0.001 old Bitcoins = $0.3 I think I'd like that more than just starting naming them something else all of the sudden, and call them Satoshis or whatever, and then when the Bitcoin reaches $10,000 we'll probably have to use new names yet again. Cutting the zeros could be a little confusing at first, but I think less confusing…
you really don't want that. imagine a confusion you'd have all the time when using software. say a year from now, you launch your older wallet software, and send 1 (old btc) instead of 1 (new btc) to someone.
You'd need to double check every single place you'd ever spend bitcoins on to make sure that it's new bitcoins and not old bitcoins.
Similarily with software - everyone in the source code it'd say "bitcoin" programmers would need to check whether it's new or old.
The amount of confusion, and engineering work would be staggering. It's far better to have a new term alltogether. People have been proposing "millis" or "millibits".
Re: Bitcoins reached $300
#17When Silkroad went down I expected bitcoin to take quite a slump but what has happened is contrary. I am not implying that anonymous transaction s for illegal use are the only thing bitcoins are good for but its my guess that it forms a major part of the group that actually use bitcoins for buying stuff. I am not sure why would anyone would get troubled in buying bitcoins for purchasing rather than punching a CC numb…
silkroad 2.0 launched just recently
Re: Bitcoins reached $300
#18When Silkroad went down I expected bitcoin to take quite a slump but what has happened is contrary. I am not implying that anonymous transaction s for illegal use are the only thing bitcoins are good for but its my guess that it forms a major part of the group that actually use bitcoins for buying stuff. I am not sure why would anyone would get troubled in buying bitcoins for purchasing rather than punching a CC numb…
SilkRoad was important, but most important was its community (dkn255hz262ypmii.onion) that it's still online. You see, the most important things for the anonymous market are the WoT and the PGP pubkeys, and that's not illegal (at least until now).
Additionally Black Market Reloaded was already very popular when SR was seized.
I believe that what is pushing Bitcoins value is that many people call it "the credit card of the 21st century" and they are buying bitcoins as shares of the next Visa.
EDIT: as wildgift said, there is no insurance in Bitcoin yet, but I'm sure that if Bitcoin starts being really popular we are going to start seeing online wallets with insurance provided by big corporations. CCs (as a technology) don't include insurance either...
Re: Bitcoins reached $300
#19When Silkroad went down I expected bitcoin to take quite a slump but what has happened is contrary. I am not implying that anonymous transaction s for illegal use are the only thing bitcoins are good for but its my guess that it forms a major part of the group that actually use bitcoins for buying stuff. I am not sure why would anyone would get troubled in buying bitcoins for purchasing rather than punching a CC numb…
Bitcoin did take a hit, but it recovered fairly quickly.
I think the simple explanation is that Silk Road's takedown increased Bitcoin's media coverage, which is leading to new buyers, which offsets whatever sell-off there might have been.
Re: Bitcoins reached $300
#20To the moon! ┗(°0°)┛
Amen.