Is there an agreed currency code for Bitcoin?

fasdorcas

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Quote from: hitchhiker on September 06, 2017, 11:06:00 AM

Quote

This explains all and theres nothing to argue regarding on this topic

I really didn't make my question clear, my apologies. This is about projects, apps and systems that rely on these codes. Systems developers generally prefer unique identifiers.

This isn't about fighting the system, or being free from oppressive, tired and useless bureaucracy. The question has nothing to do with feelings or preferences. I also prefer BTC, and have gotten used to it over the last 8 years - but who cares.

I suppose the actual answer is: We haven't got to that stage yet. Which is understandable.

Yes all about the controllers. What they think about the codes and what should be these for? They must realize the need for any currency code for bitcoin. I also think that we are still not in that stage to explain something about such a technical question like this one.

I also do not have any idea about the currency code for crypto digital currency. Just make sure that bitcoin wallet is secure and safe.

hitchhiker

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Quote

This explains all and theres nothing to argue regarding on this topic

I really didn't make my question clear, my apologies. This is about projects, apps and systems that rely on these codes. Systems developers generally prefer unique identifiers.

This isn't about fighting the system, or being free from oppressive, tired and useless bureaucracy. The question has nothing to do with feelings or preferences. I also prefer BTC, and have gotten used to it over the last 8 years - but who cares.

I suppose the actual answer is: We haven't got to that stage yet. Which is understandable.

Zadicar

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Quote from: LeGaulois on July 14, 2017, 08:03:16 AM

The most popular abbreviation we see is BTC but yes sometimes you can see the notation XBT. This is the recognized financial name for Bitcoin. it is in accordance with the standards in the markets. (https://en.wikipedia.org/wiki/ISO_4217)
BT stands for Bitcoin, and the X means that this currency is not related to any nation or any country. On the same principle, you can find XAU for Gold, XAG for Silver, XPT for Platinum and so on.

This explains all and theres nothing to argue regarding on this topic on what currency code should be used. XBT or BTC they are just both the same, they do really differ on some exchanges because they do use another term which if a certain trader isnt familiar with XBT then for sure he would got confused for the very first time. I dont care about those standards since i do really love to see the BTC code.

skjus

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But still, when bitcoin will have it’s own ISO standard,do you think? And is it realy needed? Huh

luv2drnkbr

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BTC is the most popular and common. XBT was introduced because BTC was not in line with traditional standards for official ISO currency notation. Both are used, just get used to them both and recognize they're the same whenever you see one or the other. BTC is the original and still the most widely used, but XBT may take over if more "official" bodies start adopting Bitcoin.

GoodLuck2

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Quote from: HI-TEC99 on July 15, 2017, 05:05:37 PM

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BTC is definitely the most popular and most likely to be used the other will be phased out unless a chain split.

I doubt XBT will be phased out because I think as Bitcoin increases in market cap it will increasingly be traded on the Forex markets. Those markets are the biggest on Earth and are tend to use official ISO codes. They will be the ideal place to trade Bitcoin after its market cap is measure in trillions of dollars instead of in billions.

You make a really good point, I can definitely see what you mean especially as it grows.

Yes he made a really good point. But point to be noted that where it is required as we can see the market of bitcoin? Yeah so therefore a lot of huge companies of tend to use official ISO codes. But there are some issues. How they trust,how they manage the risk because all the things is depended on management system.

HI-TEC99

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BTC is definitely the most popular and most likely to be used the other will be phased out unless a chain split.

I doubt XBT will be phased out because I think as Bitcoin increases in market cap it will increasingly be traded on the Forex markets. Those markets are the biggest on Earth and are tend to use official ISO codes. They will be the ideal place to trade Bitcoin after its market cap is measure in trillions of dollars instead of in billions.

hitchhiker

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BTC is the most popular term and no one cares about terms from official ISO.

Yeah I get the sentiment.. but yes people do care. This entire project (BITCOIN) is about CONSENSUS - we need codes for ALL these instruments, especially for those of us devs working to integrate these assets.

Like it or not, we need consensus here - ISO or otherwise.

RealBitcoin

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Quote from: ?? on ??

BTC is the most popular term and no one cares about terms from official ISO.

Other term such as XBT, mBTC, bits, uBTC and satoshi aren't that popular. XBT usually used in few exchanges, mBTC/bits usually used in few online shops, uBTC term is dead and satoshi usually used for faucet or micro-task.

I always get confused when people use bits and mBTC, I find that very confusing.

I know that BTC with a 8 decimal point length, the 1000 number after the 0 is the satoshi mark.

So 0.0001 is 10,000 satoshi. Its very easy to get used to that format. I prefer that with the BTC code. Nobody cares about centralized ISO standards, they could make an exception for Bitcoin.

Yakamoto

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Quote from: hitchhiker on July 14, 2017, 06:44:48 AM

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

The large majority of users and exchanges within the Bitcoin community use BTC as the trade symbol, but there have been some people who tried to make XBT or XBTC as an homage to the gold and silver ticker symbols on stock markets, trying to equate Bitcoin to precious metals.

Aside from that, there has never really been anything that was agreed upon in a definite manner so it's up to everyone to just use whatever it is they want to call Bitcoin when it comes to exchanges. It's just been de-facto agreed that BTC is proper.

RealBitcoin

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Quote from: hitchhiker on July 14, 2017, 06:44:48 AM

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

I dont give a shit about ISO, and their requirements.

I just like to use BTC, even if it conflicts with Bhutan's country code, who cares?

BTC is the code for Bitcoin.

hitchhiker

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So (if I'm understanding) basically we tend to use BTC - but the financial industry is suggesting something like XBT to be more in line with supranational designations:

https://en.wikipedia.org/wiki/ISO_4217

Quote

In addition to codes for most active national currencies ISO 4217 provides codes for "supranational" currencies, procedural purposes, and several things which are "similar to" currencies:

Codes for the precious metals gold (XAU), silver (XAG), palladium (XPD), and platinum (XPT) are formed by prefixing the element's chemical symbol with the letter "X". These "currency units" are denominated as one troy ounce of the specified metal as opposed to "USD 1" or "EUR 1".

pooya87

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agreed is a bit of a weird word to use here in my opinion.
inside the community since it is bit coin, we are using BTC as the short form. but when you go outside of the community you need to use something more global that everyone understands.
it still is BTC in most places but when you go want to go on Forex markets fro example or be listed among all the other currencies, the abbreviation needs to follow certain rules and since (IIRC) BT is used for something else the International Standard Organization suggested starting with an X and called it XBT.

craZyLovE0916

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Quote from: BitcoinBallerina on July 14, 2017, 04:37:06 PM

Quote from: hitchhiker on July 14, 2017, 06:44:48 AM

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

As the other stated already, BTC is the obvious official currency code currently.

However, I know that XBTfreelancer.com disagrees. That is a big Bitcoin based freelancing site. So obviously some people prefer using XBT.

From an overall perspective, BTC is far and away more well known and used than XBT though.

I did not even realize that XBT was a legitimate code for Bitcoin until joining this forum. I thought it was just a thing exchanges used for whatever reason to represent Bitcoin. Ever since learning about Bitcoin in 2013, I had always thought the only official, widely used code was BTC.

BitcoinBallerina

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Quote from: hitchhiker on July 14, 2017, 06:44:48 AM

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

As the other stated already, BTC is the obvious official currency code currently.

However, I know that XBTfreelancer.com disagrees. That is a big Bitcoin based freelancing site. So obviously some people prefer using XBT.

From an overall perspective, BTC is far and away more well known and used than XBT though.

bet101

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Quote from: hitchhiker on July 14, 2017, 06:44:48 AM

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

BTC for my knowledge

Kraken uses XBT and so does bitstamp

LeGaulois

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The most popular abbreviation we see is BTC but yes sometimes you can see the notation XBT. This is the recognized financial name for Bitcoin. it is in accordance with the standards in the markets. (https://en.wikipedia.org/wiki/ISO_4217)
BT stands for Bitcoin, and the X means that this currency is not related to any nation or any country. On the same principle, you can find XAU for Gold, XAG for Silver, XPT for Platinum and so on.

OmegaStarScream

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The most used is BTC clearly, I believe Kraken are the only ones who uses XBT instead. We will definitely see new currency codes though If there is a chain split.

hitchhiker

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Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

Topic: Is there an agreed currency code for Bitcoin? (Read 1208 times)