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Author Topic: Let's use mBTC instead of BTC  (Read 4036 times)
fantoos
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December 31, 2015, 12:37:30 PM
 #21

Agree with you we should start using mBTC instead quoting BTC.I think there less awareness about this even we see it everyday.I will start using from now onwards.I think is good initiative to debate and spread the word out.

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December 31, 2015, 12:41:26 PM
 #22

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

using decimal sometime make people misleading count the zero behind,
and using mBTC would make hard to convert exact number to fiat,
so i totally agree with shorena, using satoshi are perfect for smallest unit of 1 bitcoin, easy looks.

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December 31, 2015, 12:42:12 PM
 #23

Im fine with using Numbers like 0.001
No need to change anything.. but use whatever you want.

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December 31, 2015, 12:45:31 PM
 #24

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

I think a much more suitable comparison is to discuss whether we should take body measurements in inches or miles Wink

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December 31, 2015, 12:58:35 PM
 #25

In what unit you want to compare bitcoin is up to you depend upon how much bitcoin you handle regurarly. For faucet claimer even 1mbtc will be high and what they earn will be in decimal in whatever unit they compare it with.
There are many units to see bitcoin and you are free to use what suited you but bitcoin will be always counted as unit bitcoin rather than all those smaller unit.

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December 31, 2015, 01:00:03 PM
 #26

mBTC is not user-friendly. If you say MBTC it's 4 syllables. If you say millibitcoin it's 4 syllables too. Much too long. That's the big problem. It needs a shorter name. 2 syllables top wouldn't be a luxury.

"Bits" is cool, for micro-bitcoins, though. Only problem is that "bit" is a common word with a lot of meanings. And also it sounds funny for French speakers like me because it's pronounced in a similar fashion to the french word "bite" which means "dick". Imagine the conversation; "oh yeah, I bought that beer for 3 dicks". Yes that's how French speakers feel when they have to use the word "bit" in a French sentence. Awkward  Grin
Also, the bit still a very small unit. Unless bitcoin drastically increases in value, bits won't be worth much. Which is not practical either :-/

I hate when people make calculations in satoshis. Satoshis are meant to be bitcents. Not a unit for larger amounts. No one says "30,000 euro cents". That's stupid. You say "300 euros" and that's it. Amounts calculated in satoshis should never exceed two digits.
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December 31, 2015, 01:01:43 PM
 #27

To be honest, I still use the 0.001 BTC unit. I find it to be very easy as I have been using it since I came into Bitcoin. My Bitcoin core wallet gives me the option to choose mBTC, but I'm not going to use it as my main unit any time soon.

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December 31, 2015, 01:10:45 PM
 #28

1 BTC = 1 000 000 bits. easy.

Yes that will be my prefered unit in a few years as well I think.
Instead of mBTC and µBTC, bits is really simple to understand.
And in terms of accumulating it is always fun to "Each bit counts!" Cheesy

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December 31, 2015, 01:17:58 PM
 #29

for now it's eaier to me to use mBTC in transactions because it's more used but for the other rich users it will not be comefortuble to use for them they will need to dobble in tripple check what are writed before sending
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December 31, 2015, 01:27:06 PM
 #30

The best is that all clients let you switch quickly to the unit you need at that moment.

This.

You don't have to convince everyone to switch to certain unit, you can just choose which one you prefer.

But I've noticed that mBTC gained a lot of popularity lately, most bitcoin poker sites would use it.

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December 31, 2015, 01:31:55 PM
 #31

The best is that all clients let you switch quickly to the unit you need at that moment.

This.

You don't have to convince everyone to switch to certain unit, you can just choose which one you prefer.

But I've noticed that mBTC gained a lot of popularity lately, most bitcoin poker sites would use it.

yes also in many sports gambling websites they use mBTC as units in my opinion he could just uses a converter to USD or Euro to do his txs
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December 31, 2015, 01:46:34 PM
 #32

I understand what you are saying, but I do not understand how that would be move convenient.  People need to understand what a Bitcoin is and when we do this, you will confuse people.  When  first started with Bitcoin, I did a faucet thinking I was getting more than I was because it was in mBTC.  It is just confusing for newbies.

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December 31, 2015, 02:06:10 PM
 #33

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?
yes true, I strongly agree, even too many zeros after the decimal point increasingly seen little value, I also wonder kenpa people not wearing the unit mBTC, but it is looking good and elegant, like transactions 5 mBTC or 10mBTC, looks cool does not it?

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December 31, 2015, 02:10:56 PM
 #34

mBTC doesnot fits for speaking out the numbers like 5 Btc is said 5000 mBtc.
5 Btc is easier to speak than 5000mbtc
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December 31, 2015, 02:27:37 PM
 #35

I personally like satoshis and just plain BTC with the decimals. You get accostumed to the zeros at some point.

I feel that are more common and that is why they are easier to read. Got accostumed to mBTC when I used coinbase a lot, but then lost it somehow when I stopped seeing amounts on mBTC.

You get good at reading what you read most.

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December 31, 2015, 02:51:47 PM
 #36

I find dealing in mBtc abit confusing sometimes aswell, especially when using differant devices and wallets.
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December 31, 2015, 03:06:46 PM
 #37

I agree to this and allot of sites using BTC already started doing so, The 1 unit is so large that it's not practical to actually consider the BTC a base currency.

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December 31, 2015, 04:12:07 PM
 #38

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?

Wrong approach according to me. That does not mean that I am right and the OP has wrong. That mean only that my brain don't work like the brain of OP. My brain need more than 5 hours to understand the real value in bitcoin if it is shown 10 mbtc or 3.5 cmbtc (if exist this measure). While absorb immediately every amount told or write in btc. Not only this. But understand almost immediately even the value of these figures in fiat (mainly us dollar). So I vote for the btc and not for the its subdivisions.  Wink
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December 31, 2015, 04:14:58 PM
 #39

BTC will rise in value and once it hit the $1000 barrier again the most functional thing to do is to start using the Mbtc measure. It will have much more utility that way, once it hit $1000
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December 31, 2015, 04:31:25 PM
 #40

Let's not. I personally get really confused when I see something in mBTC or other variants, I started thinking in BTC and now it's been pretty hard to reroute my brain Smiley

My mobile wallet defaults to bits too, and I have to think carefully when I want to make a transaction and the QR doesn't ask the amount automatically or there's just an address.

Anyways, I can get used to it, eventually, but I do prefer the BTC denomination only. As long as most services allow presenting amounts either in BTC or mBTC, everything will be fine
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