Let's use mBTC instead of BTC

[randy8777]

i find working with decimals very easy and smooth. i could also use mbtc, but that requires me to get used to it. not really a big deal, but still... i much rather work with btc.

[The Sceptical Chymist]

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

Yes, and do you see what the common denominator is here?  It's the satoshi unit, and that's one of only two that should be used in my opinion.  I strongly, strongly believe that one should either use satoshi (or ksat: 100ksat = 1btc) or BTC.  Everything else is unnecessary and only introduces more steps in describing what should be a very simple quantity.

Most of us have had training in science, right?  Think of how many garbage units we have to deal with just to describe a single quantity.  Back when I learned about the ideal gas law, there were so many different R constants because Pressure could be in torr, atm, mmHg; Volume could be in liters, CC, M^3; and Temperature could be in Celcius, Fahrenheit, and Kelvin.  It was ludicrous and there are so many other examples of this it makes my head spin just trying to think about all of it again.

So for me it's Satoshi or BTC.  Nothing else.  Not Bits, not mBTC, not uBTC.

[harrymmmm]

This is a very old and familiar issue in science and engineering, where quantities have values that may vary over orders of magnitude.
It's been resolved by referring to quantities in SI engineering units (milli, micro, nano, kilo, mega etc).
The idea is you figure out the 'closest' of those units to use where 'close' is defined by the unit leaving an integer value with maybe one or two decimal points.
Noone would ever use stuff like 0.000001 btc, for example. It would simply be 1 microbitcoin (1uBTC).
Even if satoshis were considered the base unit,  noone would ever use 100000000 satoshis, it would be 100 megasatoshis (probably 100MS if it became common enough).

So, at the moment if we're dealing with USD, a millibitcoin is the best unit for every day transaction sizes.

It requires some familiarity with the SI engineering units, but it's sensible to take a lead from the people who deal with ranges like this every day, right?
Even the financial world (where they like to add many zeroes) is now using 'k' to indicate a 1000 multiplier.
People know what 'k' and 'M' mean now as well. It's not so hard.

There's a couple of sensible options (everything in SI units with satoshis as the base, or everything in SI units with bitcoin as the base). It's unfortunate Satoshi made the smallest unit 10^-8 btc instead of 10^-9 (a nanobitcoin). if he had, we'd not even need satoshi as a unit.

And there's no need to add an unnecessary new unit like 'bit', when all it is is a microbitcoin (maybe 'micro' for short) - that's just stupid and confusing.

[BirtRenaldsFan]

MBTC is like pennies compared to BTC though. I don't like this idea

[cjmoles]

Well, I already do deal with bitcoin in terms of mBTC.  That's the wonderful thing about the decimal system...one can think about it in any terms they wish.  It my help some who have a problem comprehending decimals to learn engineering notation.  It's a great format to simplify decimal places in one's mind on the fly.

[Hugroll]

i like how some wallets actually let you change your main unit of currency from btc to mbtc like copay. i really enjoy using those kinds of wallets because they make me feel like i own more btc and i actually own.

[EXtremeAEX]

Yeah, why not? mBTC can be easier for micro transaction and small earnings for us newbies, whereas BTC are more used by miners and large companies. I suppose different units of bitcoin can be used in different places, so each is useful in some way. Many sites now also offer mBTC as a unit, like coinad, but it makes the earnings look small.

[allyspork]

Yeah, why not? mBTC can be easier for micro transaction and small earnings for us newbies, whereas BTC are more used by miners and large companies. I suppose different units of bitcoin can be used in different places, so each is useful in some way. Many sites now also offer mBTC as a unit, like coinad, but it makes the earnings look small.

Yeah, I agree with you. Btcclicks use it too. So, the member can feel if they are gain a great value..

[lahm-44]

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

hey maybe you got little bit of misunderstood him .op is saying to count the transaction in mbtc until we get a 1bitcoin that means a whole number and by the way op you can use the mbtc viewinv setting almost present in every wallet and alsomt in every site there are a lot of people who had thought the same stuff and i am sure you will find some of them at bitcointalk community too.hey but in my opinion i dont think mbtc will be a good idea i always go for satoshi unit when ever i see any bitcoin transaction its the perfect unit of me

[davinchi]

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

hey maybe you got little bit of misunderstood him .op is saying to count the transaction in mbtc until we get a 1bitcoin that means a whole number and by the way op you can use the mbtc viewinv setting almost present in every wallet and alsomt in every site there are a lot of people who had thought the same stuff and i am sure you will find some of them at bitcointalk community too.hey but in my opinion i dont think mbtc will be a good idea i always go for satoshi unit when ever i see any bitcoin transaction its the perfect unit of me

Yes, based on the volume we can use different notations for bitcoin.
But with foreseeing view, we will be forced to use least available unit satoshi when satoshi = 1 USD or 1 cent.
Value and volume will decide the unit of bitcoin time to time for our convenience.

[lixer]

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

hey maybe you got little bit of misunderstood him .op is saying to count the transaction in mbtc until we get a 1bitcoin that means a whole number and by the way op you can use the mbtc viewinv setting almost present in every wallet and alsomt in every site there are a lot of people who had thought the same stuff and i am sure you will find some of them at bitcointalk community too.hey but in my opinion i dont think mbtc will be a good idea i always go for satoshi unit when ever i see any bitcoin transaction its the perfect unit of me

Yes, based on the volume we can use different notations for bitcoin.
But with foreseeing view, we will be forced to use least available unit satoshi when satoshi = 1 USD or 1 cent.
Value and volume will decide the unit of bitcoin time to time for our convenience.

Yes, the unit of bitcoin for our ease of use and for better understanding. So, one all time standardization is not possible for bitcoin and for any commodity/currency also. So, let the users to choose for their convenience.

[Cashew]

I feel like mBTC is just casinos' attempt to make us feel richer

[jethrorn99]

I feel like mBTC is just casinos' attempt to make us feel richer

Well, it's the nature of human's greed
More number in yo wallet = more happiness (even tho sometimes it's cheap)

[Shinpako09]

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

Yeah me too, i'm more comfortable using satoshi. I used it because sometimes mbtc is confusing in my part as well as others bitcoiners I guess they are confused or they dont know the conversation of mbtc to satoshi.

[shorena]

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

Yes, and do you see what the common denominator is here?  It's the satoshi unit, and that's one of only two that should be used in my opinion.  I strongly, strongly believe that one should either use satoshi (or ksat: 100ksat = 1btc) or BTC.  Everything else is unnecessary and only introduces more steps in describing what should be a very simple quantity.

100ksat is not 1BTC though, you might wana be careful when trading.

[a7mos]

I used to use the unit satoshi to divide bitcoin as my first experience with btc was through faucets.
And if some one used bit, mbit, I got confused

[PakistanHockeyfan]

I don't exactly see a point of using mbtc instead of BTC as it just happens to be pointless. Just like using Satoshis. Bitcoin in its own is fine.

[Tavos]

I like using BTC because it is the least confusing. mBTC could work better but there are some people who do bigger transactions.

[randchingo]

I agree completely that if mBTC is the base currency it will be much better, a full BTC is simply too expensive to use it as a corner for BTC trades and transactions and it gives the general public a view that BTC is just less useful since they don't fully understand how one satoshi can be exchanged.

[bearex]

yup. I really hate the ammount of zeros in front. Especially if the price per BTC would grow and you would have to pay something like 0.0002134 for coffee for example. Would have been better so the price would be like 2,2134.

But it takes some adapting. It is frustrating right now seeing mBtc and Btc sometimes, so you are left confused.

Not to mention less f%%ck ups. So you wont send 0.01 instead of 0.001 to somebody again