This is now becoming more complicated, the urge seems to be that we eventually include all information.. I don't want to describe POW or POS, but I do need to explain the mechanism of consensus (it's the main element of trust - not the algos, those provide a mechanism that can be trusted, the consensus establishes the real world trust) without really getting technical... ie:

Computers do stuff, they then agree that the stuff was done properly. Anybody who doesn't agree, ie fails validity in the face of consensus, is considered 'bad'.

I'm trying to summarise in a generic form, the underlying processes within any blockchain... ie: Explain it to people without technical backgrounds. I've ended up merging a few of the ideas, and coming at it from a weird perspective.. how does this seem?

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Part of its process (I’m merging and simplifying here) involves having many people’s computers store a copy of the information. When something needs to happen theses computers do a series of computations. The process only completes when these computers reach ‘consensus’ — many computers agree that the final result, the output of the work, is valid. If someone is acting up, they are  identified by their inability to concede.

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A currency is a financial instrument that transports value.
An asset is any instrument / thing / object you keep hold of that's useful to you.

Therefore BTC can be both, depending on what you use it for.

I really didn't make my question clear, my apologies. This is about projects, apps and systems that rely on these codes. Systems developers generally prefer unique identifiers.

This isn't about fighting the system, or being free from oppressive, tired and useless bureaucracy. The question has nothing to do with feelings or preferences. I also prefer BTC, and have gotten used to it over the last 8 years - but who cares.

I suppose the actual answer is: We haven't got to that stage yet. Which is understandable.

Yeah I get the sentiment.. but yes people do care. This entire project (BITCOIN) is about CONSENSUS - we need codes for ALL these instruments, especially for those of us devs working to integrate these assets.

Like it or not, we need consensus here - ISO or otherwise.

So (if I'm understanding) basically we tend to use BTC - but the financial industry is suggesting something like XBT to be more in line with supranational designations:

https://en.wikipedia.org/wiki/ISO_4217

Sorry if this has been asked before.

Is there a decision, official ISO list, or any other consensus on the actual proper ticker / currency code for Bitcoin yet?

BTC / XBT etc..

... each exchange seems to be using their own code, it's still the wild west out there.

Cheers,
Frank.

I'm not a trader, but i've been around a lot of them. I write software. This is my uninformed opinion:

Those personas like "al" are a dime a dozen. They are everywhere, and all over themselves with joy thinking this is the next big thing they're going to manipulate. They're never that smart, they tend to have 1 or 2 plays, and rinse and repeat based on the complete anarchy in the markets. They're cocky and tend to burn out badly, 'hyper-lame-and-sad-to-watch-your-jokes-are-tired-and-boring-nobody-cares' kind of thing.

It's likely right now (for the next few years) they'll be able to manipulate the BTC market fairly easily (or at least their bosses will)

But.. If this becomes a useful currency that people trade for goods and services, IMHO none of that will matter. The value will stabilise through billions of people's livelihoods and businesses.

The ONLY reason they had so much leverage in the past (till now) is because of the fiat and fractional reserve system, corrupt politics, and a broken economy allowing them to leverage themselves to the hilt.

They can try to 'fake' that, but it will never be the same for them if we drop the existing 'framework' and go back to a form of 'gold standard': 'crypto standard'

No, they genuinely think it's l33t in some way - it's beyond tired.

@zeroday have you actually received the coins in your wallet yet?

Still very down, it looks (kind of) like a saturated connection pool - you'll get the site every few refreshes.

This is embarrassing for the btc community.

All very true (eggs/basket - buying op)

We *might* need safeguards, to *some* degree built into the model. Can that be coded in before someone else burns us through sheer market saturation force? I can't shake the feeling the big guys are sitting around planning how to topple the kids.

this guy: http://www.zitogallery.com/userfiles/image/yuppie80s.jpg

Again, forget Mt. Gox (wow did they fall over tonight) - I'm mean to say: Nobody 'normal' will feel safe investing in a currency that's so vulnerable to volatility..

For the record: I don't give a damn, I'm sticking with this for the long run, better or worse.

Ofc, not what I'm saying, it was just the general response was: PAANNIICCCC - it's over! Not a good indicator when a lot of (biggish) trades are done by beginners..

After watching the general panic selling tonight one thing seems really clear - we are vulnerable as hell to the influence of giants like G.S.

They can buy cheap, dump high, catch it back at the bottom.. and they're experienced, they know how to do this over and over.

They can cause enough volatility that none of us will feel safe, the newbies will panic, the prices will sway around, no stability will cause colossal reputation problems with this fledgling currency.

Am I wrong here? This is David vs Golliath, except David is a newborn baby in this story.

For future reference (anyone has this problem) - it's because the hotwallet is empty, it gets refilled a few times a day for security (thanks mtu)

https://blockchain.info/address/1BTC24yVKQdQNAa4vX71xLUC5A8Za7Rr71

I just created an outbound transaction (BTC) from BTC-24 -> bitfloor..

It was over an hour ago, the address is correct, BTC-24 says 'confirmed' but there's nothing on the blockchain?

Has this happened to anyone else, what do I do?