Bitcoin is known by many but owned by few.

Most of my friends know about Bitcoin. There are few exceptions. News coverage recently has been phenomenal.

But I can't say the same about their opinion of Bitcoin. One pointed out, "who would spend hundreds of dollars on that thing?". Another replied, "yeah, the price is way too high".

For perfectly rational human beings, the price is not an important factor. After all, a single bitcoin can be divided into 100000000 units—this is so large a number that the satoshi, worth 0.00000001 BTC, is worth a third that of the lowest physical denomination of currency: the Uzbekistani tiyin.

But rational and human together form an oxymoron. Whereas my friends were easily corrected on the ability to purchase fewer than one bitcoin, the psychological barrier cannot be ignored. People do not consider using something unless they have at least one of them. Nobody buys half a car, or 0.25 houses. We can't eat 0.03 apples, and we would reject a gift of 0.007 trees.

These comparisons obviously do not apply to bitcoins, as they are effectively divisible anywhere. But because Bitcoin is abstract, we tend to compare a bitcoin to something physical. As a result, we balk at not being able to own a single bitcoin.

This also hurts the economy. Most are so accustomed to spending dollars, quarters, etc. that the thought of spending 0.007 BTC is awkward. Even worse, some merchants reject Bitcoin because they feel that 0.05 BTC is unfair compensation for the products they offer.

What if we used mBTC by default? Then merchants would get payed 50 mBTC. The "dollar" store would offer products for 1 mBTC. Et cetera.

For those living in countries with a currency valued at or higher than the US dollar, also recall that most countries have lower-valued currencies. The mBTC, among currencies, would be right in the middle of the pack.

For all these reasons, I will begin to use mBTC. It just makes sense. And I hope we could demonstrate the power of the decentralized system of governance, and band together to do so. I aspire to transact with others only in mBTC by the end of May. And I hope you will too.

Good propaganda. Some people actually believe it, because they confuse them with their amazing stupidity.

Hi i would like to buy 5k CNC for 6 BTC (1K@1.2).

Please send me PM if you are interested in this trade, I'm willing to buy in small incremets.

Only if you are willing to send first (was already scammed today)

I think there are needs of alternative currency to store value for Chinese central government as well as the 1.3 billion Chinese people.

Gold is a good option , but most of gold is store underneath in the USA and regulating by the Federal Government. they might worry about that price will manipulate by the Federal Government. As current news indicate that USA government refused to return back Gold to Germany because audit fraud. As the natural attribute of Gold, it is impossibly to cut apart into small amount for daily transaction.

Lets think about USD, Although Chinese Government hold massive amount of USD as its foreign exchange reserve, in fact , the value of those foreign exchange reserve had decrease caused by the increase value of YUAN. No matter what the reason cause this phenomenon, the consequence of this Chinese people needs another commodity or currency which will not affect by any government manipulate. Bitcoin  is still far distance to carry out this vision today , but remember there are 1.3 billion people seeking alternative things to store there wealth. even 1 million Chinese people had jumped into this market the price will be boost to significantly high.

 the poor performance of Chinese security stock will ultimately causing some of its investors lose faith and finding opportunity some where else.

 Although Bitcoin still not in mainstream, I think this question is only can be answer by time and if it succeed then it will change the way we understand of currency.

I'm no longer considered a newbie. I now have a higher prestige not just within this forum, but the Bitcoin community as a whole. Maybe even all the interwebs!

I promise I'll come back and visit you guys often. Take it easy.

EDIT: Sharing the knowledge from the NEWBIE README here https://bitcointalk.org/index.php?topic=177133.0
"Newbie Restrictions
You can only post in the Newbie and Local sub-forums till you have 5 posts and at least 4 hours on the forum.  The other two restrictions are you need 1 post to be able to send a PM and 10 posts to put a link in your sig."