BitPay Announces Plan to Display BTC Prices in Bits
Weighing in on a topic that has recently risen to prominence in the bitcoin community, Georgia-based merchant processor BitPay has announced a plan for prices to be expressed in 'bits' on both its website and for customers. The argument recently gained widespread exposure on reddit, with many supporters of the transition arguing that bitcoin's current divisions - mBTC, μBTC and cBTC - are too complex for mainstream consumers. Noted bitcoin developer Jeff Garzik, who authored the post, indicated that BitPay decided to voice its potential support the change as it was an important "human....
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In a post written by Jeff Garzik, digital currency payments processor BitPay has announced plans to bitcoin display prices as "bits" or "uBTC". The topic has been much debated in the community, and according to Garzik, "this is a human interface and technical issue that warrants careful consideration." Citing that moving to "bits" would be most compatible with existing financial software, the following is an outline of BitPay's plan: Go to six decimal places, up from 4. Drop leading "0." Prices are now expressed in micro-bitcoins (uBTC or "bits"). When necessary, add two decimal places.....
On July 17, BitPay announced the launch of Get Bits, a simple solution to Get bitcoins anywhere in the world. If "What is a Bitcoin?" is the number one question asked, perhaps "How do I get a Bitcoin?" is the second most asked. Buying bitcoins is one of the biggest hurdles to getting started; that's why BitPay created Get Bits. Get Bits lets you give and receive bitcoins to your friends through your Facebook. BitPay is a payment provider used by both Newegg and TigerDirect amount others. Its strongest competitor is Coinbase, which has just picked up Dell as its newest and largest partner.....
Some good news from America, and (unsurprisingly) some more bad news from China. Find out what's happened in the world of digital currencies this past week. BitPay plans to display prices in bits: The Georgia-based merchant processor BitPay has announced plans to display BTC prices in bits. The company's move follows a community discussion about bitcoin's current denominations being too complex for mainstream users. Vaurum raises $4m in seed funding: Bitcoin trading platform Vaurum has raised $4m in funding from a group of investors including former AOL CEO Steve Case and venture....
Bitcoin payment processor Coinbase is now enabling merchants to display the cost of their goods and services in smaller denominations of bitcoins - "bits". The San Francisco-based company, which has so far raised funding totalling $31.7m, explained that using bits means prices can be displayed using two decimal places, which consumers are already used to. Currently, a single bitcoin is divided into eight decimal places, with each unit known as a "Satoshi". One bit (or µBTC) is worth 100 Satoshis, so something worth $1 can be priced at 1,700 bits rather than 0.0017 BTC. New buyback feature.....
Atlanta, Georgia-based BitPay has today introduced a new Facebook application that will allow users interested in bitcoin to get the digital currency from their very own friends over the social network. Dubbed 'Get Bits', the app is one of many solutions available for newcomers to bitcoin to get their paws on the highly talked about digital money. From BitPay: We're always looking to grow the Bitcoin space, and buying bitcoin can be the biggest hurdle to getting started. Get Bits is an easy way for newcomers to get bitcoin through their Facebook friends. As we release the API - and....