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Author Topic: $100 per BTC reached, lets start using mBTC as default unit.  (Read 3581 times)
kalinka
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April 02, 2013, 01:48:55 AM
 #21

MtGOX using $0.10/mBTC as a standard will not make newcomers as optomistic as seeing price increases than seeing for example, how it went from <30 to >100 in such a short time. Looking at the history and seeing $0.03 to $0.10 just wouldn't have the same value. That's my opinion on it and is debatable.

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April 02, 2013, 01:56:16 AM
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We should let people communicate about Bitcoin and price goods in Bitcoin however they see fit, and when the majority begin talking in mBTC, it will become the norm.
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April 02, 2013, 02:02:14 AM
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We should let people communicate about Bitcoin and price goods in Bitcoin however they see fit, and when the majority begin talking in mBTC, it will become the norm.

Indeed.  My guess is we'll see it around $1000.
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April 02, 2013, 02:11:53 AM
 #24

MtGOX using $0.10/mBTC as a standard will not make newcomers as optomistic as seeing price increases than seeing for example, how it went from <30 to >100 in such a short time. Looking at the history and seeing $0.03 to $0.10 just wouldn't have the same value. That's my opinion on it and is debatable.

I agree. Look at the price of Gold. It rose from $200 to $1600 in 10 years...and when you see the charts their is an awe factor.

- aka The "DigiMan"
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April 02, 2013, 02:56:02 AM
 #25

MtGOX using $0.10/mBTC as a standard will not make newcomers as optomistic as seeing price increases than seeing for example, how it went from <30 to >100 in such a short time. Looking at the history and seeing $0.03 to $0.10 just wouldn't have the same value. That's my opinion on it and is debatable.

People seeing mBTC going from $0.10 to $0.30 will not think it's overpriced. Seeing a BTC go from $30 to $100 will make them think that it's reached its peak and it's too late to invest in it.
solomon
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April 02, 2013, 06:34:40 PM
 #26

$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you?

If it was a virtual bug i might.

When i use it i say "BTM" not "bitmill".  I think it's a clearer distinction from BTC than mBTC. I think "i'll give you 20 b-t-m" is clearer than "I'll give you 20 millibitcoins" or "20 m-b-t-c".

People are not used to thinking in fractions, we need distinct units like dollars and cents, not fractional units like dollars and microdollars. uBTC and mBTC is particularly easy to mix up.
 

bitcoin price ticker | bits.so
JimiQ84
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April 02, 2013, 06:37:07 PM
 #27

$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you?

If it was a virtual bug i might.

When i use it i say "BTM" not "bitmill".  I think it's a clearer distinction from BTC than mBTC. I think "i'll give you 20 b-t-m" is clearer than "I'll give you 20 millibitcoins" or "20 m-b-t-c".

People are not used to thinking in fractions, we need distinct units like dollars and cents, not fractional units like dollars and microdollars. uBTC and mBTC is particularly easy to mix up.
 


I call them millicoins. I know, it's kinda nonsense, but rolls of tongue really nice.
the founder
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April 02, 2013, 06:42:53 PM
 #28

I did as you guys asked.

http://www.ounce.me

mBTC now listed .  I'm averaging about 20,000 visitors a day now...  I believe this helps.


Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
christop
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April 02, 2013, 08:58:28 PM
 #29

$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you?

If it was a virtual bug i might.

When i use it i say "BTM" not "bitmill".  I think it's a clearer distinction from BTC than mBTC. I think "i'll give you 20 b-t-m" is clearer than "I'll give you 20 millibitcoins" or "20 m-b-t-c".

People are not used to thinking in fractions, we need distinct units like dollars and cents, not fractional units like dollars and microdollars. uBTC and mBTC is particularly easy to mix up.
 

Except that "cent" is short for "centidollar", which means one-hundredth of a dollar. People already deal with these types of fractions on a regular basis, such as with my example about millimeters. I don't see anyone confusing meter (m) with centimeter (cm), millimeter (mm), micrometer (um), or even with kilometer (km). Each of those is unambiguous.

I do like "millies" and "mikes" as shorthand names for millibitcoins and microbitcoins. They sound personable.

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April 02, 2013, 09:02:48 PM
 #30

$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you?
A mill has more than one meaning. A bitmill is a portmanteau of Bitcoin and ₥.
christop
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April 06, 2013, 12:12:07 AM
 #31

$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you?
A mill has more than one meaning. A bitmill is a portmanteau of Bitcoin and ₥.
You have a good point there (I wasn't aware of "mill" being used in a currency context). I'm still not sure I like "bitmill", but it might grow on me with time.

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