Re: [Bitcoin-development] moving the default display to mbtc

2014-05-03 Thread Jannis Froese
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On 03.05.2014 02:54, Ben Davenport wrote:
 No one quotes amounts as 63 k$ or 3 M$. The accepted standard at 
 least in the US is currency-symbolamountmodifier, i.e. $63k 
 or $3M.

As you said, that's in the US, and I strongly suspect the sole reason
is that in the US the currency symbol is written in front of the
amount. I often pronounce $10k as ten kilodollar, using it exactly
like a SI-prefix.

The much better argument against SI prefixes is that the prefixes for
values less than 1 tend to be much less well known: Most people know
that kilo means 1000, many know that mega means 1,000,000, but few
know that micro means 0.001, and those that do tend to confuse
micro and nano.

Jannis
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Re: [Bitcoin-development] BIP0071 media type registration with IANA

2014-04-26 Thread Jannis Froese
Am 2014-04-26 22:17, schrieb Mike Hearn:
 Bitcoin is not a vendor, so I doubt that would work.
By my interpretation of RFC 6838, the Bitcoin Foundation or even Gavin 
himself could register a vendor tree for Bitcoin. In the case of the 
foundation registering, getting the subtree named vdn.bitcoin should be 
no problem.

 I doubt we should spend any time on this. The chance of a string 
 collision is extremely low. The current mime types are fine.
It's mostly about the good feeling of having followed the rules and 
proper procedures, I doubt that there is a difference in practice

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Re: [Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory

2014-04-24 Thread Jannis Froese
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On 24.04.2014 14:15, Mike Hearn wrote:
 Beyond needing to double balances, what if the shop is selling me a
 phone on contract? So the actual cost of the phone is lower than
 the real price on the assumption of future revenue. Alice double
 spends (aka steals) the phone, paying double the artifically lower
 cost but still making a good saving. Bob does not end up with
 nothing, he ends up in the red.

Nearly every payment system in existence has this problem: you have to
be able to enforce the contract out-of-band. The scenario you describe
is no worse than a payment network with instant, secure confirmations
because Alice could just as well refuse to make the second payment.
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Re: [Bitcoin-development] bits: Unit of account

2014-04-20 Thread Jannis Froese
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I agree that a unit based on 1e-6 BTC is easier to use in practice
than BTC. The name microbitcoin is ok-ish. Nearly all countries
officially use the SI-system, but that doesn't mean that the average
citizen knows all the SI prefixes. Mega, kilo and milli are
universally understood, micro not so much. This is a serious
accessibility concern.

But I dislike the term bit for the already stated reasons: It's
already used in various languages for various things. Simply using
Satoshis may be easier and is universally understood.
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