I predict we will soon be pricing everything in satoshis.

[Atlas]

Here's a clearer proposition, verbally:

1 Bitcoin = 1 Bitcoin

.1 Bitcoins = 10 million satoshis

.01 Bitcoins = 1 million satoshis

.001 Bitcoins = 100,000 satoshis

.0001 Bitcoins = 10,000 satoshis

.00001 Bitcoins = 1,000 satoshis

.000001 Bitcoins = 100 satoshis

.0000001 Bitcoins = 10 satoshis

.00000001 Bitcoins = 1 satoshi

Once .1 BTC becomes $10, people will likely say things like "This rubber duck is worth .0125 bitcents." Okay, that works.

Then .01 becomes $10. .001 is not a bitcent. What do we do with the vocabulary we have now? We go the way of the Japanese Yen.

When we have .001 Bitcoins, we will say we have 100,000 satoshis, since there are 100-million satoshis in a Bitcoin. The satoshi is the smallest unit.

So, in short, when we start commonly pricing things in .001-.01, thousands of satoshis will be the wording since we will get tired of adjusting to the exchange rate through vocabulary.

TLDR: .001 = 100,000 satoshis

Thoughts? Is my math right?

[randomguy7]

I prefer mBTC and µBTC, and satoshis for values 1 to 99.

[SpontaneousDisorder]

How many satoshis in an atlas?

[bracek]

bitcoin price rise is slowing down from exponential to linear.
I suppose it is because bitcoin already burned through most of the geek mass,
and all that is left are slower type of people, slow linear adoption ? who would know

also, there is now resignation, If i cant get 1000 coins I won't buy

after this new year turmoil, I would not expect any excitement for a long time,
I doubt any big company will adopt it before next reward drop from 25 to 12.5

[Atlas]

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

[Atlas]

bitcoin price rise is slowing down from exponential to linear.
I suppose it is because bitcoin already burned through most of the geek mass,
and all that is left are slower type of people, slow linear adoption ? who would know

also, there is now resignation, If i cant get 1000 coins I won't buy

after this new year turmoil, I would not expect any excitement for a long time,
I doubt any big company will adopt it before next reward drop from 25 to 12.5

I hope you're right. I need more time to buy.

[BC12345]

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I also prefer mBTC and µBTC because this keeps the unit "BTC".

mBTC = milli Bitcoin    (milli   = the thousandth part of something)
µBTC  = micro Bitcoin  (micro = the millionth part of something)

[Atlas]

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I also prefer mBTC and µBTC because this keeps the unit "BTC".

mBTC = milli Bitcoin    (milli   = the thousandth part of something)
µBTC  = micro Bitcoin  (micro = the millionth part of something)

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks. I mean, look at Yen. They happily go into the millions.

[the_thing]

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I believe mBTC stands for millibitcoin (10^(-3)) and µBTC stands for microbitcoin (10^(-6)).

[BC12345]

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg)

[Atlas]

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg)

This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.

[Kupsi]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

[Atlas]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.

[Kupsi]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.

But we all know milli = 1/1000.

[bitcoinbear]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

It takes a moment to get used to, but once you use it a few times it just seems natural.

If you pay attention, people sometimes denominate small values in cents, nobody has a problem converting that to dollars. And for large values people sometimes report values in k$ or M$.

Right now a US dollar is worth about 80 mBTC. One share of SatoshiDice is going for about 3.4 mBTC. One US cent is now about 0.8 mBTC or 800 µBTC.

For speculating on value, I suspect the price will level off at some point, so I don't think we will ever be dealing in satoshis.

[Atlas]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.

But we all know milli = 1/1000.

Let's look at from a emotional point-of-view. Would a person be most comfortable saying:

Here's 100 millicoins.

or

Here's 100k in satoshis.

Which uses more common language?

In Yen, people commonly deal in 10s to 100s of thousands of a unit. Not the metric system applied to the largest unit.

[BlackHeartFund]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.

BTC is different than any other currency in history in many more ways than that... why not have unique measurements?  Everyone has already accepted and uses mBTC and µBTC... they are simple and make sense. My advice is to learn it and get used to it.

[BC12345]

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg)

This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.

5.56×45mm NATO ammunition, if you prefer Bitcoins being linked to guns. But I'll admit that I don't know of any currency that uses "milli" or "micro".

[Atlas]

In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.

That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.

BTC is different than any other currency in history in many more ways than that... why not have unique measurements?  Everyone has already accepted and uses mBTC and µBTC... they are simple and make sense. My advice is to learn it and get used to it.

It may work on this forum but with most people, according to history, I doubt it. I will wait and see how the culture forms.

Most currencies only go by set names for two-three different units and they aren't metric prefixes. I doubt humans will suddenly change for anything.

[nobbynobbynoob]

1 million satoshi = 1 cent or BTC0,01
100 cents = BTC1

I think we can comfortably deal in satoshi and 1/100s of a cent (units of 10k satoshi), but that's just me. Bitcoin-Qt, of course, allows users to display amounts in mBTC and µBTC. Just be sure not to send someone five bitcoins when you meant to ship 'em half a cent!