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Topic: XBT vs BTC, what is the story? - page 2. (Read 20132 times)

legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
November 05, 2015, 09:48:25 PM
#7
i think XBT is bitcoinXT ,or im wrong, i didn't saw any XBT tag on exchanger that i've visited before
BitcoinXT is just another client. XBT and BTC are quite the same, "BT" in "BTC" is used by Bhutan as their country code and is hence unable to be used as an ISO code. XBT is a ISO 4217 Currency code.
full member
Activity: 193
Merit: 100
November 05, 2015, 09:37:32 PM
#6
i think XBT is bitcoinXT ,or im wrong, i didn't saw any XBT tag on exchanger that i've visited before

It's used on Kraken for example. And not it's Bitcoin XT.
legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
November 05, 2015, 05:07:13 PM
#5
Some background

Bitcoin adoption is achieving a critical mass for exponential growth. To maintain this growth Bitcoin needs to be supported on the world's FX systems and seen on data-feeds such as Bloomberg and Reuters.

All the world's currencies have 3-letter ISO standard codes which are used to identify them in computer systems.
http://en.wikipedia.org/wiki/ISO_4217

The first two letters must match the ISO standard country code .e.g. USx codes are reserved for the United States, hence the dollar is known as USD on all FX systems.
BTC is not available as it is reserved for the country of Bhutan.
http://en.wikipedia.org/wiki/ISO_3166-1_alpha-2

Transnational or world currencies begin with an X, for example XAU (gold) and XAG (silver)
XBC has been taken by the European central bank, which leaves only XBT as the most suitable ISO code for Bitcoin.

Below is the institution which needs to be lobbied to assign Bitcoin its currency code:

ISO 4217:2008
Codes for the representation of currencies and funds

Maintenance Agency

c/o SIX Interbank Clearing Ltd (acting on behalf of the Swiss Associa tion for Standardization)
P.O. Box
Hardturmstrasse 201
8021 Zurich
Switzerland

Tel:  +41 58 399 4255
Fax: +41 58 499 4550
E-mail: [email protected]
Web: http://www.currency-iso.org


The Bloomberg screen used by tens of thousands of people who continually buy and sell the major currencies...



Let's see Bitcoin elbow its way onto this screen!

hero member
Activity: 700
Merit: 501
November 05, 2015, 02:42:56 PM
#4
XBT don't control BTC.
XBT is for the bankster.
BTC is for people.

simple.

Mmm, I think you are confusing Ripple, which is XRP, which XBT, which is indeed Bitcoin, it just another way to tag it, but I also prefer BTC, because its sounds more like "Bitcoin", has all the important syllables.
legendary
Activity: 1512
Merit: 1012
November 05, 2015, 02:41:23 PM
#3
XBT don't control BTC.
XBT is for the bankster.
BTC is for people.

simple.
legendary
Activity: 2212
Merit: 1038
November 05, 2015, 02:39:18 PM
#2
I've seen since the early days some exchanges/people using the XBT tag, then I saw a lot of people using BTC. Nowadays i think BTC is the dominant tag. Anyway, whats the deal with this? I think BTC sounds better, XBT is confusing.

It's not an arbitrary choice, they label it XBT for technical reasons. The first letter is a country code or something like that.

It's still BTC the 'B' is just obscured by the X.  Cool
legendary
Activity: 1204
Merit: 1028
November 05, 2015, 02:19:43 PM
#1
I've seen since the early days some exchanges/people using the XBT tag, then I saw a lot of people using BTC. Nowadays i think BTC is the dominant tag. Anyway, whats the deal with this? I think BTC sounds better, XBT is confusing.
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