Bitcoin Forum

As the rest of the Crypto community is stacking up Crypto's by the thousands and millions, the faithful Bitcoin community continues to hoard micro bits. While the omnipotent BTC users have the argument of other crypto's being over inflated what they don't realise is that the well rounded Crypto's will never be used in their micro denominations and will start to become far more attractive than endless streams of decimal places followed by zero's, one hopes with a 1 somewhere at the end.

http://s12.postimg.org/x8j0cpr3x/microbits.png

I think in the near future when BTC has widespread acceptance but still rests secondary among default government fiat, most normal users won't care about how many decimal places it has. Chances are the default display on whatever the payment interface will read out in the currency denomination of the legal tender of the users choice.

Example:
You go to McDonalds to buy a McDouble for $1 but you choose to pay with BTC. You just scan the QR code or link by some other means to the McDonalds cash register and the amount is automatically displayed on your device to be withdrawn. You just enter your PIN number to verify the transaction and everything else is automatic. You don't know the current exchange rate but you know that $1 was spent and you can check your balance to see what you have left.

In the future future (assuming Bitcoin survives) it will probably be worth enough that ordinary transactions will be in the few hundreds of Satoshi's and it will be displayed as such. If you have 10,000 satoshis you can pay your rent.

Ok, I didn't put OP on my ignore list because I thought the quantum kitten was cute.

This is a bad topic title. Shifting the decimal place is a solved problem; assuming Satoshi sub-division is not needed: just use mBTC and 5 decimal places.

I agree Doge may be popular because they chose "better" parameters. However, Bitcoin has not yet proven it is scalable enough to actually need any extra precision. It may become a reserve currency: only used for large transactions. The fees may become comparable to wire transfers today.
 

Ignore lists are for amatures ;)

It's hopeless. We need to move the decimal place. Mexico devalues its currency when too many zeros pile up and changes 1,000 peso notes into 1 peso notes.  

We need to do the opposite and have an upvaluation.

The smallest denomination should probably be the same as the fee to send. So .0001 would be the smallest decimal place.

But when Bitcoin is worth $100 million per coin that would mean the smallest denomination is worth $100,000 and it costs that much just to send a transaction. lol

Actually Ignore lists are precisely for amateurs....welcome to mine.

childish last thing we need here

I really don't see any need to remove any decimal points. I actually think changing anything will hurt the image of Bitcoin more than anything. People tend to associate simple changes to currency with underlying problems.

Nobody is forcing anybody to use the clients that are out there. If you want mBTC (which is already in the bitcoin-qt) to be named BTC fork the client and publish it and let's see how many people use it. I don't see a problem.

I howerever, like many others I'm sure, will continue to use metric prefixes as that makes perfect sense to the majority of the world.

BTC is perfect as it is, small users can dream of the day that they can hold a full coin. The way it is set up at the moment adds exclusivity to BTC and should be safeguarded.

If Bitcoin fails to understand users, it will become the next "Year of Linux Desktop".

More requests to mentally devalue the currency, mbtc cropping up everywhere is a disaster hope when litcoin reaches $1000 it never follows this dead end trend. You obviously hold btc but don't recognise it as the premium crypto currency

I think the safest way, to avoid economic corruption, is to keep it as is.

I see no reason to make a wide-scale change. Wallets should allow users to change the denomination whatever they want. On Blockchain.info, for example, I have it set to display everything in mBTC. So I only read transactions in mBTC, and my money is in mBTC in my view.