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Author Topic: Let's use mBTC instead of BTC  (Read 4034 times)
the_poet
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December 31, 2015, 10:29:39 AM
 #1

I don't know about you guys, but more and more often I find myself dealing with numbers like 0.004 BTC, 0.05 BTC, etc. in everyday transactions. I hate decimals and I think most of you are in the same boat as me. Our brain works much better with whole numbers. Given that 1 mBTC is in the same order of magnitude as 1 USD, why don't we start measuring our transactions in mBTC?

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kingcolex
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December 31, 2015, 10:34:49 AM
 #2

Because 1mBTC won't equal a USD for long and a lot nations other than America Bitcoin. You also have the very alive debate on whether Bitcoin is a daily currency or a settlement device.

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December 31, 2015, 10:40:51 AM
 #3

while any exchanger site around the world still use decimal ,it seems you just make hard your whole bitcoin life,and if you have more than 100btc you should write it 100000mBTC really give me headache

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December 31, 2015, 10:41:14 AM
 #4

I personally prefer Satoshi, its way more fun to transfer a million satoshi than 0.01 btc or 10 mBTC.

No seriously, just use whatever you prefer, I think most are familiar with the denominations

1 BTC = 108 (100 million) satoshi
1 mBTC = 105 (100k) satoshi
1 µBTC = 102 (100) satoshi

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December 31, 2015, 10:42:34 AM
 #5

Because sometimes Bitcoin or number of Satoshis is more appropriate. It all depend on specific tansaction whether Satoshis, mBTC or Bitcoins makes most sence to visualize in my brain when doing the transaction

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December 31, 2015, 10:42:44 AM
 #6

Because 1mBTC won't equal a USD for long and a lot nations other than America Bitcoin. You also have the very alive debate on whether Bitcoin is a daily currency or a settlement device.

$1 = 2.37 mBTC, they're perfectly comparable, no need for them to be equal to find using mBTC much more handy.

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December 31, 2015, 10:43:23 AM
 #7

I don't know about you guys, but more and more often I find myself dealing with numbers like 0.004 BTC, 0.05 BTC, etc. in everyday transactions. I hate decimals and I think most of you are in the same boat as me. Our brain works much better with whole numbers. Given that 1 mBTC is in the same order of magnitude as 1 USD, why don't we start measuring our transactions in mBTC?

It is depended on people preferences, personally i hated to deal with decimals,
But i am familiar now, and i like more to deal with decimals instead of satoshis or mBTC

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December 31, 2015, 10:45:04 AM
 #8

Because 1mBTC won't equal a USD for long and a lot nations other than America Bitcoin. You also have the very alive debate on whether Bitcoin is a daily currency or a settlement device.

$1 = 2.37 mBTC, they're perfectly comparable, no need for them to be equal to find using mBTC much more handy.
Then use it, there have been plenty of sites that allow the option but the majority of users seem to enjoy just the normal btc denomination.

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December 31, 2015, 10:45:16 AM
 #9

I personally prefer Satoshi, its way more fun to transfer a million satoshi than 0.01 btc or 10 mBTC.

No seriously, just use whatever you prefer, I think most are familiar with the denominations

1 BTC = 108 (100 million) satoshi
1 mBTC = 105 (100k) satoshi
1 µBTC = 102 (100) satoshi

Satoshi is another great unit: I think it's too small for now, but certainly bound to become the default in the future.

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December 31, 2015, 10:53:56 AM
 #10

The best is that all clients let you switch quickly to the unit you need at that moment.
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December 31, 2015, 10:55:56 AM
 #11

The best is that all clients let you switch quickly to the unit you need at that moment.
Hopefully they also have an equivalent to usd, I can see new users being very confused and losing money easily.

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December 31, 2015, 10:58:47 AM
 #12

Nah, I think it's more reliable to use the bigger unit rather than using a smaller one which is mbtc. Bitcoin is more volatile than others and with it's constant moving price, it's more preferable to use a unit as a whole and just a measure of it's part.


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December 31, 2015, 11:03:26 AM
 #13

I don't know about you guys, but more and more often I find myself dealing with numbers like 0.004 BTC, 0.05 BTC, etc. in everyday transactions. I hate decimals and I think most of you are in the same boat as me. Our brain works much better with whole numbers. Given that 1 mBTC is in the same order of magnitude as 1 USD, why don't we start measuring our transactions in mBTC?

in my opinion.. i think it doesnt matter if its mbtc, satoshi or btc.
as all bitcoin users understands already what is it.
but when you tell that we start using ONLy mbtc. there will be some
debate over it. as some people will like instead change it to satoshi only. or btc only.
so i think theres no need to change the usual one. you can measure it in mbtc if you want.
but i doubt that everyone will agree using the same also for over all.

 

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December 31, 2015, 11:05:41 AM
 #14

I find it easier just using satoshis, I prefer just 0.0001 or whatever. any time i see x mbtc i find it harder to work out than satoshis.

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December 31, 2015, 11:07:06 AM
 #15

Maybe "bits" will be better, as we expect the value to increase significantly? At the moment 20 bits is about 1 Japanese Yen. Maybe soon it will be equivalent?

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December 31, 2015, 11:10:59 AM
 #16

I think most people have gotten too used to saying BTC and get confused when their coins are denominated in mBTC.

It will happen sooner or later though, with increasing price it is inevitable.

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December 31, 2015, 11:13:24 AM
 #17

1 BTC = 1 000 000 bits. easy.

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December 31, 2015, 11:37:24 AM
 #18

Should we quote US currency in dollars or cents - it's a similar discussion. Smiley

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December 31, 2015, 12:25:56 PM
 #19

i like to use more satoshi as the minimal divisor, i simply say i send you 0.01, 0.001 etc...

i don't have problem with rational numbers
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December 31, 2015, 12:37:17 PM
 #20

It is working fine even with BTC and there will be time when mbtc and umbtc really will have value and then these symbols which seem rare will in spot light by themselves.We can change general trend so easy.People follow the trend so doing we too.

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