Bitcoin Forum

http://bitcoinity.org/markets

I think some of the clients should switch as well. What do you think?

Too early to use mBTC. Bitcoinity will switch back to BTC soon.

I like it.

Lol this is nothing but false premises.

Small car manufacturers have been doing this for some time now.
Which car engine would people prefer and look nice on paper 800cc or 0.8Liter?

SSDs are not advertised as 0.128TiB.

Watch batteries are not sold as 0.01AH

Chip capacitors are not rated at 1e-9Farad

SHA-256 hashing chips are not rated at 0.005TH/s

The next person who will buy 100s of  millibitcoins from me?

 ;D  Hopefully the other exchanges will soon follow.

I have heard people say over and over and over again that Bitcoin is "too expensive" for them to buy.  Perhaps they can't use decimals?  I am not sure.  But there is certainly some psychology to people thinking that they are getting more for their money when the price is $1 instead of $1000!

It can only help the price go up!

We should all be very excited about it and a huge thanks to Bitcoinity for taking the first step here!

>Applauding psychological shenanigens in hopes of driving up 'the price'.

Yeah let's not push for actual adoption of BTC. What matters most ofcourse is "HURR HOW MANY USD COULD I GET FOR MY BTC :D:D:D:D" *MANIA*

Also bitcoinity is not an exchange, nor has any exchange switched to mBTC.

Hey, more users=more adoption right?  People have to OWN BTC to use them.  If they think that they are overpriced they will never buy them or use them.

they are probably just testing the waters out.. it's not that big of a move to switch back to BTC.

You're clearly in it only for the USD value, no need to deny it. Else why care about the price at all?

why didn't they just switch straight to Satoshi  ???

Great move! Now when some others follow this example the media will report it and more people will get interested in buying Bitcoins.

I hate the transition because its not yet powerful enough :P

Let's see.  Bitcoin is a great store of value.  People that decide to purchase some will experience that.  They will realize that fiat is a poor place to store their hard earned dollars and thus the price will go up.  I am in it for the value for sure.  Is that such a horrible thing?

I think we all believe bitcoin to be a better store of value and a better currency than USD, so we expect bitcoin's value to go up against the USD and we hope more people adopt it. Why else would we store our wealth in bitcoin? Who cares about USD anyway?

Actually, we were hoping for bitcoin to succeed wildly as a currency while simultaneously losing all our money in the process.  Oh well, so much for that plan...

Stock split!

Thanks for switching to mBTC. Great move!

This is awesome. The right move indeed. I like it and hope others will follow.

I second that!

For the same reason as goxed stated, albeit the opposite. A can of Coke is stated as containing 330 millilitres, not 330000000 nanolitres.

Satoshis are just an inconveniently small unit at this point. While we're still measuring BTC by its value in non-crypto currencies, whatever unit is closest to a dollar seems like the sensible option to use.

switching to mBTC is too early for rookie, but necessary for BTC :D

That'll be horrible. The exchange rate will be 1 Satoshi = 0.000011 USD.

/me likes.

The four-letter abbreviation just sucks. It needs to be three letters. Maybe MBT or MBC. Or maybe just redefine 0.001 BTC as 1 BTC and say that the total supply will be 21 billion instead of 21 million.

It doesn't work like that, there is this thing called SI units, almost every country uses them for things (expect America, they are still using pounds and ounces and cups and other antiquated units)

http://en.wikipedia.org/wiki/International_System_of_Units#Prefixes

Pre-fix, i.e. you take the unit (BTC) and put something in front, for example mili, micro, nano etc.

Good idea, hope it makes acceptance as a normal means of pay more possible!

Good move imho.

+1

Definitely the right move - it has to happen at some point, and it's better to do it sooner rather than later.  Once bitcoin becomes more mainstream the larger masses will be more confused by the change in units.  Right now most BTC users are pretty hard core, and will be able to tolerate the change without too much confusion.

You can always go into preferences at the top right and switch the format back if you don't like it. 

Good feature.  All the exchanges should do this.  Make mBTC the default but give the option to show it in the "regular" format.

Just read about human mind's fascination with whole units :)
http://en.wikipedia.org/wiki/List_of_cognitive_biases