Quote from: Rannasha on May 15, 2013, 09:32:33 PM

The rarity of bitbars is rather void since it can be easily divided. I can trade 0.0001 BTB just fine. But so can I trade 1000 BTC. With digital currencies, the actual amount doesn't really mean anything, only the value it represents. If I have $10000 in coins, yeah I'd want to consolidate that into either bills or maybe gold, simply to save space. No such problem exists with BTC.

A point can be made for having a separate crypto currency as a backup to store funds in, in case BTC fails. But there's no reason why this should be BTB. Almost all alt-coins share the same basic principles with BTC, the most significant difference typically being the use of scrypt instead of sha-256. Something that would cause BTC to fail will probably have a similar effect on other alt-coins (unless a sha-256 weakness is found that doesn't exist in scrypt).

Finally, with BTC being the only currency that is close to being somewhat accepted by merchants and all other currencies having their value expressed in BTC, a price-crash of BTC will probably take down alt-coins as well. Just look at the LTC exchange rate after BTC had a mini-crash following the news of Mt.Gox accounts in the US being seized: LTC had a similar, if not bigger crash.

Right now, there is no real point in consolidating money in an alternative coin. They're fun to mine and (day)trade, but practical use is very limited. Bitbar is no exception. And its rarity is just a play of numbers, it's no more rare or common than any other coin if you consider that crypto currency is dividable into extremely small parts.

This is a great argument! I must debate though, I can buy gold in very, very, very small increments just the same. As well as silver, platinum, and palladium! Wink

Diversify!

Since the implementation of the international yard and pound agreement of 1 July 1959, the grain or troy grain (Symbol: gr) measure has been defined in terms of units of mass in the International System of Units as precisely 64.79891 milligrams.[4]:C-19[7] 1 gram is approximately 15.43236 grains.[4]:C-13 The unit formerly used by jewellers to measure pearls, diamonds, or other precious stones, called the jeweller's grain or pearl grain, is equal to 1⁄4 of a carat, or 50 mg (~ 0.7716 gr).[3] The grain was also the name of a traditional French unit equal to 53.115 mg.[3]
In both British Imperial and U.S. customary units, there are precisely 7,000 grains per avoirdupois pound, and 5,760 grains per troy pound or apothecaries pound.[4]:C-6C-7

http://en.wikipedia.org/wiki/Grain_(unit)

Quote from: champbronc2 on May 15, 2013, 09:35:10 PM

Rannasha summed it up nicely.

There is no practical use for BTB to be "the bar". Any coin could be "the bar" that's rare. Hell, why not MNC? MNC is another rare currency. That was a rehetorical question of course.

Thanks for the LoL.

Quote from: Rannasha on May 15, 2013, 09:38:48 PM

Quote from: champbronc2 on May 15, 2013, 09:35:10 PM

Rannasha summed it up nicely.

There is no practical use for BTB to be "the bar". Any coin could be "the bar" that's rare. Hell, why not MNC? MNC is another rare currency. That was a rehetorical question of course.

There's also no need for "a bar". If I have 10000 BTC (if only ^^), it's not going to fill up my computer or make transactions more clumsy than if I'd have just 1 BTC (closer to reality Sad

).

With digital currency, some of the restrictions of fiat money and/or currency based on precious metals are gone. Lets not reintroduce them.

Let's take a look at the reverse. If I have 1 BTC why would I trade it for 1000 CHN? Restrictions? I've yet to see any. The only restrictions(besides DHS & Hackers) I see that can effect or affect markets are you and I. I would more-so call this theory an addition, rather than restriction.

Quote from: ymer on May 15, 2013, 09:39:39 PM

Shmoopy and peonminer talking to himself with his different accounts.

Quote from: champbronc2 on May 15, 2013, 09:46:59 PM

Quote from: zdarkazn on May 15, 2013, 09:37:23 PM

Quote from: champbronc2 on May 15, 2013, 09:35:10 PM

Rannasha summed it up nicely.

There is no practical use for BTB to be "the bar". Any coin could be "the bar" that's rare. Hell, why not MNC? MNC is another rare currency. That was a rehetorical question of course.

Rare? You're kidding me.

Rhetorical question bro. I'm not actually implying we use MNC as the new BTB. Completely missed the point.

Moreso that the concept of needing bars period is unnecessary. Like Rannasha said, no need to re-introduce the problems of physical currency into digital currency haha

There is absolutely no 'need' at all. Only preference and choice. Wink