when it comes to bitcoins, i prefer to keep my unit in bitcoins. if my bitcoins are worth $1MM each, i don't care if satoshis are 1c each.
what i do know is that if bitcoin continues to see exponential growth in coming years, repeatedly changing the unit doesn't help the confusion at all.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31427. (Read 26708165 times)
December 04, 2013, 01:22:21 PM
December 04, 2013, 01:21:38 PM
Nobody posted about the fact that BTC reached parity with gold again for a little while.
Gox price has come very close but has never quite reached the spot price of gold in USD.
December 04, 2013, 01:21:27 PM
Nobody posted about the fact that BTC reached parity with gold again for a little while.
What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.
December 04, 2013, 01:19:47 PM
Someone buys 700+ coins @ Gox. Follow up: 0.0.
I declare this market dead
I declare this market dead
Are you still bearish?
I will move the way the market moves. Not much right now, I would say.
December 04, 2013, 01:18:43 PM
Someone buys 700+ coins @ Gox. Follow up: 0.0.
I declare this market dead
I declare this market dead
Are you still bearish?
December 04, 2013, 01:14:49 PM
Nobody posted about the fact that BTC reached parity with gold again for a little while.
December 04, 2013, 01:12:37 PM
Someone buys 700+ coins @ Gox. Follow up: 0.0.
I declare this market dead
I declare this market dead
December 04, 2013, 01:10:25 PM
Heading for new ATH on Stamp, and maybe Gox as well.
December 04, 2013, 01:06:51 PM
my bullishness hits a new ATH 
Nice see these posts once again from you =D Indeed these dips we had in this run have proved that this trend is nowhere near turning. Now all we need is a little more volume and this goes straight to 2000+.
December 04, 2013, 01:05:14 PM
Let's see this baby movin'...
December 04, 2013, 01:03:42 PM
my bullishness hits a new ATH
December 04, 2013, 01:02:37 PM
December 04, 2013, 12:58:29 PM
nice bid wall of 1275 @ 1190 on mtgox
December 04, 2013, 12:56:28 PM
is the train leaving the station? 
ch000000000000000000 ch000000000000000000000000000000000000
seems that there is a slow commuter train ahead of us, which force us to slow down in speed
December 04, 2013, 12:50:04 PM
I don't think most of the world really cares about dollars.
Maybe not, but most of the world HATES decimals in prices. Decimals confuse people. Would you like to see a cup of coffee cost 2 milliBits or 0.002 bitcoins? It's much easier to understand whole numbers. Also, many people think 1000 $ /bitcoin unit is too expensive. I try to tell them they can buy fractions of a bitcoin, but they hate that idea. People don't like dealing with fractions. It's basic psychology.
The following quote from another thread justifies it perfectly.
+1 for 1 million bits in a coin. I feel like that would be perfect when 1 btc is in the ballpark of $10k, therefore a bit is in the ballpark of a cent. Its still workable now but its also looking forward to the future. With a 10k valuation, prices for things won't need decimal points, they'd look like dollar prices do today except without the dot which I think is very intuitive. Bits is easy to say and intuitively derives from bitcoin.
Too many names for things is confusing, especially when they can be confused with each other like milli and microbits. Now we'll have bitcoins for large sums, bits for small sums, and satoshis for the technically inclined (laymen need not worry about this term).
Bits also work if bitcoin ever reaches a valuation of a million $ each, then bits are equivalent to dollars and prices can reintroduce two numbers after a decimal point like we use now.
Too many names for things is confusing, especially when they can be confused with each other like milli and microbits. Now we'll have bitcoins for large sums, bits for small sums, and satoshis for the technically inclined (laymen need not worry about this term).
Bits also work if bitcoin ever reaches a valuation of a million $ each, then bits are equivalent to dollars and prices can reintroduce two numbers after a decimal point like we use now.
December 04, 2013, 12:44:41 PM
is the train leaving the station?
December 04, 2013, 12:29:03 PM
We had this debate a few days back please see link and vote on 'terms to use'?
Basically - you may want to talk of a bitcoin - but if what do you say if you want to buy a coffee?
Will they say:
"That will be 0.002 Bitcoin"
or "2 embits"
(or "milibits" / "mills" / "bits" / etc...)
Think about it?
Screw polls. Use what you think sounds best and something of a consensus will ultimately emerge.
December 04, 2013, 12:24:56 PM
so at this rate when we are expected to hit $1337?
i think it's time to plan a 1337 party
i think it's time to plan a 1337 party
Wait , we didn't have a party at 1024
)Also we need one at 2009.
heh, I remember making a party joke at 19.99. And now we're glancing askance at 1999.
December 04, 2013, 12:24:03 PM
so at this rate when we are expected to hit $1337?
i think it's time to plan a 1337 party
First we've got to pass that bloody $1200 for longer than an hour i think it's time to plan a 1337 party
With volume this low its might take a while
Depth is way up though.
December 04, 2013, 12:20:46 PM
lakh
Just learned something new.
I can't condone non power-of-three multipliers though.
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