Bitcoin Forum

This is a poll to reach consensus that everyone should start talking in / switching to mbtc now.  It is also a motivation for site owners to adjust their website.

EDIT: It's clear mbtc is going to win.  I suggest those who support it just start talking in mbtc from now on.  Right now the mtgox price is $1.04 mbtc.

it is time. however, remember that there is no official unit, and if we all switch our clients to show mbtc and start referring to one mbtc as one bitcoin, then  it will happen without any updates or changes

I'm sorry but I hate mBTC. It is annoying, confusing and you can't make me use it.

How is it more confusing? If you say $1 mbtc?

+1

Polls are silly.  There is no central planning committee on Bitcoin units and measures.

If you want to use mBTC, uBTC, or satoshis then go ahead.   A poll isn't going to convince an exchange, merchant, wallet, or service provider to change.  If you want bitstamp to change their orders books to show everything in mBTC then TELL THEM.  Emails, tickets to customer support, etc.

Good advice.  Let's all tell them.  It still helps for them to have an indicator though, at how many people support it.

mbtc does not roll of the tongue, bitcoin does.

I suggest finding a simpler word for mbtc.

millie or millibit.

That will be 123 millibits, please.
I can't believe the exchange rate is over $10 a millie.

Personally I'm only undecided because my opinion is starting to lean on changing to µBTC right away. That would be 1 change only, the final change. Satoshis would be cents, the normal smallest unit. That would be it. Please consider µBTC.

And obviously this is not a centralized change, but I think finding a concensus is good since it would lead to less confusion if changes are done in unison.

Haha actually this sounds pretty good.

-One Satoshi t-shirt!
-That would be two satoshis , sir!

Mitts. As in, "your PlayStation 4 will cost 400 mitts".


Mikes. As in, "your PlayStation 5 will cost 400 mikes".

Two satoshis for one Satoshi t-shirt is a clear ripoff. Wouldn't pay more than three satoshis for two Satoshi t-shirts.

How about Millie and Minnie?
Give Disney a chance to sue somebody this year too!

Nothing wrong with saying 5 millibitcoins.. which would be $5 bucks right now

I'm really optimistic about Bitcoin, but when we switch to mBTC we need to be REALLY SURE that we are not going to switch back EVER. the psychological blow could be devastating.

I still like rpietila's word: minicoin. Millies just sounds kind of strange these days.

Millibitcoins or millibits for short. It's time.

mbit ("EmmBt")
mbt ("Em Bee Tee")
mb ("Em Bee")
mco ("Emcoh") or mcoin
milbi ("melBee") or mibi ("MeeBee")

millibit sounds silly... like the wii;p but could be good long term

4 letters/syllables is too awkward.

I propose we name 0.001 btc a "gox", in honor to Mt.Gox. Let's take the following example:

"I want to sell my car for 20 gox."

Advantages:

- It sounds nice and rolls off the tongue nicely
- Mt.Gox played an important role in the history of Bitcoin
- It's short and easy to type
- It is unique and cannot be confused with other currencies
- Sounds similar to "bucks"

Disadvantages:

- It's not possible to infer that gox refers to 0.001 btc if you see it for the first time

yeah, and MHz is confusing, should say "million oscillations per second"

also Giga Byte, totally confusing

Kilo Gram, how am I supposed to keep track of all this

I are too stoopid to do basic units notation   ::)

Yep, Im going to start refering to my stash as millibits. I wish online wallets displayed it as such.

I want to switch over to mBTC (or even to uBTC in the future). But mBTC is such an ugly name. I don't want to use that term. As long as the term is not changed, I am not supporting this initiative.

and in 4 years we will have the same pool again discussing if we should switch to uBTC?
We need to think longterm, also Media gives no attention to small numbers.
We can be sure to get a report for every small milestone as 1500, 2000, 2500 etc. they won't report if we decide universally to 1.5$ mBTC

100000 satoshis for 1$ sounds like a good deal

kinda like the "gox" idea

although not sure if everyone's connotation of gox is positive

mtgox
magic the gathering online exchange

I think if we re-denominate to mBTC, then the media sources will use the market cap rather than the exchange rate. The current market cap is around $11.66 billion. In future, media will report like "BTC breaks $25 billion market cap" and such.

So there is no problem with media publicity.

I disagree. The media likes price charts, especially the damn Gox chart. I'd rather they use Bitstamp or, even better, an average across exchanges. But they won't change that, and they certainly won't change to market cap reporting for our convenience. Switching to mBTC would totally confuse the layperson, they'd be like "Bitcoin was $1000 and now it's $1? It's crashed omg!"

It's not time to use it yet. Bitcoin needs to be stable over $1000 for a considerable length of time to justify the use of mBTC. Yes, it's reached $1000/BTC, but it isn't guarenteed. $1000 is the threshold, I agree on that much, since $1000/BTC = $1/mBTC. But stability is important before making the transition.

Are you on drugs?

Gox sounds much better than mBTC. The proposal can be considered.


Subdivisions of the basic monetary units are usually short in length. For example Dollar / cent, Ruble / kopek, Rupee / paise. So Bitcoin / gox sounds better.


Please elaborate!

Sorry, but this means giving credit to MTgox. All I hear about Gox is that you shouldn't use it because of the huge delays and bad response of customer service.  

Most of those troubles is because of the unofficial "boycott" of Gox by the bankers in USA and Canada. Gox want to pay its users on time... but what they can do if the banks refuse to move their money?

Why not mils? Then you can do this:

“Currently, 1₥ is worth about $1.10.”

And if you ever need to clarify which currency you’re referring to:

“Currently, 1₥ BTC is worth about $1.10 USD.”

I started calling them mills months ago, but with 2 "L"s :P

oh btw, is there a way to change armory to mills? I havent found an option to do so.

http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/

Umm, it's a bit confusing to noobs. Otherwise, now is a good time to switch to mBTC