We need to convert Bitcoins to new units...

[virtualdn]

Paying 0.000001 or 0.000035 is just impossible to remember and use... nobody will use that in the future if we want it mainstream.
I know satoshi exists as smallest unit but they are quite hard to remember.
When someone says 10,000 satoshi I try to think how much is that while 1 BTC is easy to understand.
So maybe we should have new bitcoins to keep the name where 1 new bitcoin = 0.0001 old bitcoins to make it easier to use...
share your thoughts.

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[BellaBitBit]

Maybe if it becomes widely used, or the only currency used, people will get used to it if they are using it everyday.  Maybe that is giving people too much credit with their math skills?  I am kind of used to what each value means, but who knows.

[MyBTT]

We can't just change Bitcoin so dramatically. I kind of want that too, but the blocksize limit is more important.

[gentlemand]

We can't just change Bitcoin so dramatically. I kind of want that too, but the blocksize limit is more important.

Nothing has to change on a fundamental level, just the output display of wallets and sites. Most of them offer that option already. I do think Satoshi missed a trick there. It would've been far simpler to do it from minute one. Average human psychology isn't programmed for piles of zeroes at the front.

[franky1]

this debate was already said last year..

the agreement was when transacting and the number of 0's starts giving people blurred vision.. people will start using 'bits'.. (0.000001 / 100sats)

trying to rename bitcoin as being 1.00000000 to being something else would cause more confusion. and also it would be like trying to call a gram of gold, a tonne

[ColderThanIce]

this debate was already said last year..

the agreement was when transacting and the number of 0's starts giving people blurred vision.. people will start using 'bits'.. (0.000001 / 100sats)

trying to rename bitcoin as being 1.00000000 to being something else would cause more confusion. and also it would be like trying to call a gram of gold, a tonne

Basically this, it was discussed about a year ago and lots of people seemed to agree on using the mBTC (milli-bitcoin), or 0.001 BTC. It's sort of been the defacto-standard for a portion of a bitcoin for at least a year now.

[virtualdn]

this debate was already said last year..

the agreement was when transacting and the number of 0's starts giving people blurred vision.. people will start using 'bits'.. (0.000001 / 100sats)

trying to rename bitcoin as being 1.00000000 to being something else would cause more confusion. and also it would be like trying to call a gram of gold, a tonne

Basically this, it was discussed about a year ago and lots of people seemed to agree on using the mBTC (milli-bitcoin), or 0.001 BTC. It's sort of been the defacto-standard for a portion of a bitcoin for at least a year now.

the idea is if crypto fans use it is one thing but if we want bitcoin to go mainstream and be used everywhere nobody will know what 0.00001 means - let's think what this means for elder people for example

[achow101]

this debate was already said last year..

the agreement was when transacting and the number of 0's starts giving people blurred vision.. people will start using 'bits'.. (0.000001 / 100sats)

trying to rename bitcoin as being 1.00000000 to being something else would cause more confusion. and also it would be like trying to call a gram of gold, a tonne

Basically this, it was discussed about a year ago and lots of people seemed to agree on using the mBTC (milli-bitcoin), or 0.001 BTC. It's sort of been the defacto-standard for a portion of a bitcoin for at least a year now.

the idea is if crypto fans use it is one thing but if we want bitcoin to go mainstream and be used everywhere nobody will know what 0.00001 means - let's think what this means for elder people for example

That is why the unit for 0.00001 is bits. For 0.001, it is mBTC. It is really simple, you just say "I have 20 mBTC" and people will know what you are saying. No need for a decimal point and a lot of zeros. Anyways, this site: http://youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/ is a handy site for converting between the various commonly used units of Bitcoin.

[simon66]

It took me a while to be easily able to convert satoshis to BTC in my head but I figured out a way for me to remember it and now I have it down pat.

I remember it as "trip zero ten k" in my head, or 3 zeros (000) before 10,000 (10k).

.00010000

That gives me a nice reference point right in the middle and was my "ahaa" moment. eureka..

Now I mostly find myself thinking of BTC as "a million satoshis" = .01, "ten million satoshis" = .1, or "100k sat" = .001

Now I like it this way and its the millibits/bits/bytes that confuses me.. Maybe I'm silly for thinking this way but it works for me..

[franky1]

i think that moving to millibits is just a temporal short term name.. its much easier to just drop straight to bits

EG if $1 = 0.0025btc right now.. far easier to just say it is 2500bits that way its a permanent measure..
after all people know that a tonne of gold can exist, they know a tonne of gold is impossible to buy unless your rich. so it makes sense to use smaller measures.

but these days people buy coins measured in grams that are affordable in small handfull amounts and it sounds good you have whole numbers of gold rather than decimals of ounces..
so it makes sense to get use to grams now as its starting to become popular although people are getting confused about the whole gram/ounce conversion.. many would have prefered to have just skipped to grams. that way there would be no transition and confusion at the moment

so it makes sense to skip the millibit to avoid that confusion and just go from 0.0025bitcoin to 2500bits.. for longevity sake

[funkenstein]

Paying 0.000001 or 0.000035 is just impossible to remember and use... nobody will use that in the future if we want it mainstream.
I know satoshi exists as smallest unit but they are quite hard to remember.
When someone says 10,000 satoshi I try to think how much is that while 1 BTC is easy to understand.
So maybe we should have new bitcoins to keep the name where 1 new bitcoin = 0.0001 old bitcoins to make it easier to use...
share your thoughts.

Remember 1st grade?  All this "dimes" and "nickels" and "quarters" and "dollars"?  It's a lot to remember.  Yet many kids are smart enough to use the system. 

Much easier is satoshis - millies - bitpennies - bitdimes.  1 millie = 100ksat.  A bitpenny is a million sat.  Learn to use them if you want to use publc coin. 

[franky1]

Remember 1st grade?  All this "dimes" and "nickels" and "quarters" and "dollars"?  It's a lot to remember.  Yet many kids are smart enough to use the system. 

Much easier is satoshis - millies - bitpennies - bitdimes.  1 millie = 100ksat.  A bitpenny is a million sat.  Learn to use them if you want to use publc coin. 

now your just trying to reinvent new names to spark new debate..

satoshi, bits, millibits, bitcoin.. thats all thats needed. but preferably satoshi, bits, bitcoin

[Hash72]

I like bitdimes, bitpennies, and mBits in the public market.

Satoshi and bits are far too little amounts for practical use...

[franky1]

I like bitdimes, bitpennies, and mBits in the public market.

Satoshi and bits are far too little amounts for practical use...

lol.. your not thinking of the big picture..

its kind of funny when you read all the posts of people saying the price of bitcoin is going to rise in the next 6 months and not long after its going to go sky high..

then you will see that bits is no longer "too little"

EG
right now 1cent =25bits
in 6 months 1cent=12bits..

give it less than 2 years, 1 cent will be 1bit

so i hope you realise it doesnt take 500 years for bits to become relevant measure.. as its almost here now

so dropping to millibits or dimes or bitpennies is just short term and confusing

oh and by the way.. dimes.. thats the dreaded words of american currency.. europeans asians, and many other countries do not use dimes. so lets try not attaching bitcoin to american trends..

[funkenstein]

I like bitdimes, bitpennies, and mBits in the public market.

Satoshi and bits are far too little amounts for practical use...

You might think so, but in fact satoshis are already to BIG for some studies. 

For example, a Joule of energy is best valued in millisatoshis. 

There are also a whole bunch of altcoins worth very small fractions of a satoshi, some of which trade for thousands of Doge-satoshi. 

[franky1]

There are also a whole bunch of altcoins worth very small fractions of a satoshi, some of which trade for thousands of Doge-satoshi. 

thats what i dont get about doge...
litcoins smallest measure 0.00000001 is called a coblee.. after the inventor of litecoin..

im not sure who invented doge.. but atleast dogecoin can be more creative.. EG 0.00000001=puppie, or pup

[TastyChillySauce00]

you just need to know if there's exist mBTC and uBTC , 1 mBTC = 0,001 and uBTC = 100satoshi if I'm not mistaken ,this really help a lot for few sites

[Hash72]

I like bitdimes, bitpennies, and mBits in the public market.

Satoshi and bits are far too little amounts for practical use...

lol.. your not thinking of the big picture..

its kind of funny when you read all the posts of people saying the price of bitcoin is going to rise in the next 6 months and not long after its going to go sky high..

then you will see that bits is no longer "too little"

EG
right now 1cent =25bits
in 6 months 1cent=12bits..

give it less than 2 years, 1 cent will be 1bit

so i hope you realise it doesnt take 500 years for bits to become relevant measure.. as its almost here now

so dropping to millibits or dimes or bitpennies is just short term and confusing

oh and by the way.. dimes.. thats the dreaded words of american currency.. europeans asians, and many other countries do not use dimes. so lets try not attaching bitcoin to american trends..

Good points... if it's one thing BTC investing is teaching me it is the value of patience and the long-term.

I like bitdimes, bitpennies, and mBits in the public market.

Satoshi and bits are far too little amounts for practical use...

You might think so, but in fact satoshis are already to BIG for some studies.  

For example, a Joule of energy is best valued in millisatoshis.  

There are also a whole bunch of altcoins worth very small fractions of a satoshi, some of which trade for thousands of Doge-satoshi.  

I see, measuring joules in satoshi -  
I understand how alt coins can become dust, hehe but I need to look into those selling high.

It's interesting how everything BTC is volatile now, from the price to the core, to the culture. Slowly it will become solid and finite.

There are also a whole bunch of altcoins worth very small fractions of a satoshi, some of which trade for thousands of Doge-satoshi. 

thats what i dont get about doge...
litcoins smallest measure 0.00000001 is called a coblee.. after the inventor of litecoin..

im not sure who invented doge.. but atleast dogecoin can be more creative.. EG 0.00000001=puppie, or pup

Haha was thinking this too... Dogetoshi at least, c'mon.

Or Scooby Snacks

[franky1]

Haha was thinking this too... Dogetoshi at least, c'mon.

Or Scooby Snacks

1.0=doge
0.000001=scooby-doo
0.00000001=scrappy-doo


but anyway back to bitcoin.. a few years ago there was bitcents (0.01btc) but that very quickly became redundant and no longer used when the price of a whole btc went to $100 a coin..
people got confused pretty quickly that a bitcent was $1.. and now a bitcent (if people still talked about it) would be $4.. so confusing to try linking bitcoin to dollar measures.. and confusing to have all the temporary measures in the middle, rather than thinking long term (which isnt that long at all)

[Amph]

the best way is to remember them in satoshi directly, so don't say 0.0001 but 10k satoshi, don't say 0.0000035 but 350 satoshi and so on, much easy to remember