Coinbase Users In Georgia Exploited a Decimal Point Error To Cash Out At 100X

Coin communities act differently: an analysis of Reddit tipping bot data has revealed some sharp contrasts in Bitcoin and Dogecoin users’ behavior when it comes to parting with their precious cash. The findings may not come as a surprise to some, but it is interesting to consider how such differences were shaped. A simple explanation for the differences in average tips could lie in how the currencies are denominated. As its exchange rate is currently around 2784 to the US dollar, tipping DOGE tends to involve high numbers the left-hand side of the decimal point. Even 1000DOGE only....

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.....

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.....

Coinbase customers in 24 countries will now be able to use a cash-to-cash remittance service based on bitcoin's blockchain to send money to the Philippines. By employing Coinbase's API, Philippines-based Coins.ph is allowing the wallet and exchange platform's two million registered users to send pesos to recipients in the Southeast Asian country through a variety of delivery methods. To use the service, users must place a sell order directly on Coins.ph and pay with their authorised Coinbase wallets in USD. Coins.ph then delivers the cash in pesos to the recipient through a number of....

Bitcoin Cash ABC has rebranded to “eCash,” redenominated its token, and launched a proof-of-stake consensus layer. Bitcoin Cash ABC (BCHA), the embattled cryptocurrency project that has forked away from both Bitcoin and Bitcoin Cash, has rebranded to eCash (XEC).The project’s re-launch will see it integrate proof-of-stake consensus layer “Avalanche,” introducing staking and greatly increasing the speed of transactions.eCash will also reduce its decimal places down from eight to two, with lead developer, Amaury Sechet, stating:“No other money has eight decimal places. Why should crypto?....