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    Author Topic: Come here for m-bit practice  (Read 750 times)

    • jag2k2 (OP)
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    June 02, 2013, 11:25:52 PM
     #1
    Alright lets all practice using the new m-bit denomination.  Answer the following questions to help get yourself in the habit!

    1.  How many bitcoins do you have?  (in mbits)
    2.  How much do you think bitcoins will be worth at the end of the year (in mbit per dollar)
    3.  What is the current exchange rate for bitcoins on Clark Moody?  (use correct denomination!)
    I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson

  • jag2k2 (OP)
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    June 02, 2013, 11:28:12 PM
    Last edit: June 03, 2013, 10:20:46 AM by jag2k2
     #2
    1.  ~10,000 mbits
    2.  I think somewhere like 2.5 mbits per dollar
    3.  $120 dollars per BTC is about 8 mbits per dollar
    I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson

  • Razick
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    June 02, 2013, 11:51:39 PM
     #3
    Quote from: jag2k2 on June 02, 2013, 11:25:52 PM
    Alright lets all practice using the new m-bit denomination.  Answer the following questions to help get yourself in the habit!

    1.  How many bitcoins do you have?  (in mbits) mBTCNOYB (None of your business  Wink)
    2.  How much do you think bitcoins will be worth at the end of the year (in mbit per dollar) $0.195 (mBTC5.13/USD) to be conservative.
    3.  What is the current exchange rate for bitcoins on Clark Moody?  (use correct denomination!) $0.12335
    ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.

  • jag2k2 (OP)
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    June 03, 2013, 12:19:22 AM
     #4
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    $0.12335

    I'm assuming you mean 12.3 cents per mbit.  I think a better way to express the exchange rate would be mbits per dollar.

    The current exchange rate on Clark Moody is $123 per BTC.  Well that is $123 per 1000 mbits which is 8.13 mbits per dollar.  Just my 162 ubits.  Haha I crack myself up  Grin
    I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson

  • Razick
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    June 03, 2013, 12:31:08 AM
     #5
    Quote from: jag2k2 on June 03, 2013, 12:19:22 AM
    Quote
    $0.12335

    I'm assuming you mean 12.3 cents per mbit.  I think a better way to express the exchange rate would be mbits per dollar.

    The current exchange rate on Clark Moody is $123 per BTC.  Well that is $123 per 1000 mbits which is 8.13 mbits per dollar.  Just my 162 ubits.  Haha I crack myself up  Grin

    I prefer $/mBTC because I am usually buying Bitcoin with dollars, not the other way around. It makes it easier to visualize how much I am actually paying since that's how I've historically watched the price.
    ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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