We need to rethink the way we look at 1 BTC value...

[virtualdn]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

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[EXtremeAEX]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

[Prodigan786]

Yes of course one bitcoin can change anybody's life recently I sold 0.05 bitcoin As I was having target of reaching 3000$ . So one of local exchange gave exact same value so sold now I think it's hard to earn of course it will take time

[franky1]

unlike the egyptians which measured gold in tonnes people now measure gold in ounces and soon grams will become common.


as for the bitcoin world bits (100sats) will become common

[Unknown Enforcement]

Thats not easy for a newbie to understand they will always think negatively and difficulty to earn 1BTC. Yes 0.1 is  big amount now but if they think right, they might learn how to earn and store bitcoins. They just need positive thoughts to survive here.

[Gotottack]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

That's a good thought, but what you have to make people understand is the divisibility of bitcoins down to one satoshi or 0.00000001 bitcoins. This is a concept that may be hard to grasp for newbies but if this is know to them then this could really be something to be considered by everyone.

[SamMurphy]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

I will agree with you, that's what am doing. I try to hold my bitcoins and save them. And now because of the price you start thinking in terms of 0.10BTC-0.20BTC instead of 1BTC  

[deisik]

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

And everyone else should always keep them in mind. Really, what's the purpose of 100 satoshi if it will remain dust even in the case these diamond crumbs cost a fortune (in dollars)? It's okay with the price going exponential but it is certainly not so good (mildly speaking) if the fees rise as fast or even faster. In fact, if they continue to grow, the available range for ordinary folks to buy in will be narrowing with each price rally. This is not a good thing. On the one hand, exchanges are setting lower limits for minimum orders, but, on the other hand, rising fees quickly make these orders meaningless

[charlescoin]

Obviously as btc gains value it becomes harder and harder to own one coin but I really don't see many bitcoiners complaining about having 0.1 btc or anything already and if a new person asks about it then its very easy to explain that bitcoin is potentially infinitely divisible.

[fan_of_things_and_stuff]

Is it really that hard to conceptualize fractions of BTC? .1 BTC ~= $280 and .01BTC ~= $28

Doesn't seem all that difficult to me 

[LFC_Bitcoin]

As the years go different amounts of bitcoin become significantly more difficult to own. People used to donate 50 bitcoin's to the forum to become a VIP member. Who the hell would donate that amount now?

Maybe in 10 years most people won't even think having 1 bitcoin is realistic.

[harizen]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Let them think of that way until they realized that even owning a less fraction of bitcoin, they already in possession of a good amount. On the way, they are doing everything to acquired bitcoins withut knowing that there small bitcoin earnings are now having a good value since bitcoin price increased.

And because of that, they will now have a mindset to changed their vision. Their old saying that they can't own BTC1 will now be changed it now be targeted more since they already saw a good value in their usual small bitcoin earnings so how much more if they owned BTC1.

[gamerfan]

A solution could be to change unit of measure to 1 Satoshi. If the price keeps on rising I think it could be necessary.

[Nagadota]

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

Fees are completely irrelevant to this in every possible way.

They have no relation to whether someone is considering buying 1 BTC or 1,000,000 "bits".
Of course, a "Bitcoin", is just 100,000,000 spendable units.  If the Bitcoin price were $100,000 for example, they'd be spending 1000 bits when they spend $100.  That makes way more sense than spending 0.001 BTC, which is annoying to deal with and for people to get their head around when they're used to spending fiat currency.

[xuan87]

The bitcoin price now is already expensive, for third world country, it is a very large number, but as long as you own some bitcoin then you can earn profit and it is a good thing to invest in bitcoin, it doesn't need to be owning 1 bitcoin, but it could be a great motivation for all of us,

[unamis76]

Everyone starting out with Bitcoin eventually learns Bitcoin is divisible really soon. Exchanges sell less than 1 BTC... So I don't really see how this should be rethinked.

[uneng]

It's still possible to have 1 full bitcoin, 3000$ isn't a huge amount, for poor persons too, they just need to save money to have this amount, it can take some time, but they can have that amount, in the future it will be more difficulty.
But I understand what you are saying, some persons don't have interest in bitcoin because they may not have 1 full bitcoin. In this case, these are fool persons that are losing a big opportunity in life to make their money price more.

[U2]

It's pretty obvious if you're a newbie you probably won't drop $3000 on 1 bitcoin (especially if you don't understand it) but about 5 minutes of research will lead you to... "...can break down to 8 decimal points called Satoshis" . If you're really too dumb to figure that out how will you understand how to turn on your phone and scan a QR code!?

[TastyChillySauce00]

Well, I honestly often see that people in few various forums use mBTC as their way calling 100k sats. People back then too when bitcoin first released just calling bitcoin by mere BTC because they were owning hundreds or thousand of BTC and it seems like a dust for them. But see now, the price increase significantly, a BTC worth thousand dollar, so it's normal that there's a change of behaviour on how people call BTC.

[mk3000]

it'll happen on its own. when BTC reaches 100.000$ or 1.000.000$ we'll only use satoshis as the unit

[TryNinja]

It's still possible to have 1 full bitcoin, 3000$ isn't a huge amount, for poor persons too, they just need to save money to have this amount, it can take some time, but they can have that amount, in the future it will be more difficulty.
But I understand what you are saying, some persons don't have interest in bitcoin because they may not have 1 full bitcoin. In this case, these are fool persons that are losing a big opportunity in life to make their money price more.

Do you really think anyone experiencing difficulties and having almost no condition to survive would save $3000 to buy a virtual currency whose value may fall at any time? $3000 IS a huge amount of money, mainly in third world countries where people can't simply afford to stop eating to invest that amount of cash.

In Brazil, the minimum wage is equivalent to ~$285 dollars. So without considering all the monthly expenses and bills necessary to live, you would have to save your WHOLE salary for 10 months to buy 1 single Bitcoin. Of course that's the minimum and many people earn an amount above that. But this is just an example for you to understand how much a Bitcoin can be worth nowadays in other countries.

[JavaScriptus]

crypto currency will die soon, you guys will see...

[timerland]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

No, not at all.

Owning 0.1 BTC probably puts you into the top 1% of all bitcoin holders actually.

The argument is the same though - people like whole numbers, and owning 1 bitcoin is something that is almost religious. The value of one bitcoin is definitely out of reach of many people right now and i can only think that it'll increase in the future by even more.

The value of 1 bitcoin should remain one bitcoin. But i believe the usage of the unit "bits" in exchanges and wallets will actually benefit the bitcoin ecosystem as it is easier to deal with large numbers than with decimal points all the time, and it makes you feel like you're owning a lot more bitcoin than just "1 btc". Even if it's psychological, it'll make a difference.

[ImHash]

You need to rethink yourself, since when 0.01 or even 0.1 could bring us wealth? you are living in a fantasy world.
Could you imagine a person holding even 10 bitcoins becoming rich in the future? I couldn't, if you want to get rich in future you need to have at least more than 50 bitcoins and stop fooling yourself.

[Scorpion]

I keep telling my friends this but they don't understand. They will always say it's too expensive as the price climbs week after week. I explained it in many ways like percentage change and denomination but they fail to understand. I am trying my best but it is a problem we should figure out and people think one way is to establish a smaller unit like the Satoshi or the Bit.

[Icon]

well the thing is people still compare earning ~ $3,000 to mining 1 BTC, there different. For example alt coin mining via gpu's, those coins are a billion time easier to mine vs mining BTC directly. Trade the alts for btc simple And there is a million alts coming out yearly. Why climb the mountain while you simply can go around it?

There is even a game to mine btc in well huc/btc



Icon


PS

Oh and don't forget about day trading on exchanges buy low sell high, more then 1 way to skin that cat.

[Wesimon]

Before I was really regretting of not knowing bitcoin earlier. I may have more than 1 BTC now.
But I have come to think of owning 0.1 btc now. Though its not the same as the value of 1 BTC but it is already a big amount. Still I am thankful that I am earning atleast 0.01 btc. Sooner or later, I will be able to earn higher than this.

[Soranith]

Those newbie are just a little confused or maybe doubtful they need to fully understand what is bitcoin all about and how bitcoin works. When I was a newbie, I too think the same way I thought owning 1 bitcoin would be very impossible for me and 0.1 is just too small. I did not know how the market works and nobody explained it to me. Those newbie just need a little push they need to research and they need people who will make them understand what is this all about.

[NeilLostBitCoin]

1btc on the future is way too high that a simple person cant own 1.

[reflector]

Those newbie are just a little confused or maybe doubtful they need to fully understand what is bitcoin all about and how bitcoin works. When I was a newbie, I too think the same way I thought owning 1 bitcoin would be very impossible for me and 0.1 is just too small. I did not know how the market works and nobody explained it to me. Those newbie just need a little push they need to research and they need people who will make them understand what is this all about.

Bitcoin value is seems around 3000$  for one bitcoin now. We can now buy the bitcoin with the 2 month of day salary. If anyone has been utilize the time before the last year halving means you have 10 bitcoins or more than that. You may hold the bitcoin, you will be seems to huge fund with you.

[xypos]

We already have units that are sub-bitcoins.

There is really no need to expand the bitcoin monetary supply just because the price has skyrocketed. We could always just add more decimal points to a bitcoin, and call the new units microtoshi, millitoshi etc. etc.

A lot of desktop wallets are already using uBTC and mBTC which i think is a step in the right direction because i don't know, holding 1000 mBTC just feels more substantial than holding 1 BTC, and 1 mBTC is closer to the value of $1, a unit that we are already used to using. It's all psycology, thereotically it shouldn't make a difference what unit we use but imo practically it does.

[Herbert2020]

well the thing is people still compare earning ~ $3,000 to mining 1 BTC, there different. For example alt coin mining via gpu's, those coins are a billion time easier to mine vs mining BTC directly. Trade the alts for btc simple And there is a million alts coming out yearly. Why climb the mountain while you simply can go around it?
There is even a game to mine btc in well huc/btc
Icon
PS
Oh and don't forget about day trading on exchanges buy low sell high, more then 1 way to skin that cat.

because the mountain is strong and won't be destroyed on your head while you are climbing it
but if you go around it (the route of altcoins) there is a high chance of avalanche and you getting buried under the dump. that is why people don't take the altcoin route, as for mining you still need cheap electricity and willingness to put a lot of pressure and work on your GPU

[franky1]

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

And everyone else should always keep them in mind. Really, what's the purpose of 100 satoshi if it will remain dust even in the case these diamond crumbs cost a fortune (in dollars)? It's okay with the price going exponential but it is certainly not so good (mildly speaking) if the fees rise as fast or even faster. In fact, if they continue to grow, the available range for ordinary folks to buy in will be narrowing with each price rally. This is not a good thing. On the one hand, exchanges are setting lower limits for minimum orders, but, on the other hand, rising fees quickly make these orders meaningless

some exchanges are already moving to mbtc right now. then later drop again to ubtc(bits)

where the fee is 'commonly discussed' as ~1000bit($2) per tx, instead of 0.001btc(~$2)
meaning people in conversation and website/app display visualise it as ~1000bit($2) per tx, instead of 0.001btc(~$2)

the logic would be that if price goes up.. the 'unit of measure' for everything goes down.


then when lets say btc price goes to $20k
the fee becomes ~100bit($2) per tx, (0.0001btc~$2)


then when lets say btc price goes to $200k
the fee becomes ~10bit($2) per tx, (0.00001btc~$2)

if you think that if BTC went upto $20k people would spend $200 a TX... then you might aswell call bitcoin useless
no one would spend $200 a tx

[swogerino]

You can't do much with 100 satoshis even if the price go up to 100.000 or 1.000.000 dollars for a bitcoin. I think a more realistic view with the actual price and the trend that is looking it wants to go up for a newbie would be as the first step to own 0.01 bitcoin and then 0.10 bitcoin. If he is successful until here he can then start to rethink of how to get 1 bitcoin in his wallet. That is quite difficult but not impossible.

[lighpulsar07]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I agree with you if you can't afford a whole coin, then buy whatever you can afford. Exchanges allow to buy whatever amount of bitcoin we can afford so next time newbies tell you that you can't buy 1btc, because its expensive just tell them that you can buy a half or lower bitcoins.

[Catmony]

Its always better to hold any amount of bitcoin for future and if the amount is bigger it can give you more profit with every price pump. It is hard to collect free bitcoin these days but you can still buy bitcoin with your savings you have in your bank. Price can easily rise to above $10,000 per bitcoin within next few years so buying it at current rate could still be profitable.

[Kakmakr]

it'll happen on its own. when BTC reaches 100.000$ or 1.000.000$ we'll only use satoshis as the unit

We might even see smaller units than a Satoshi, if we reach that stage. You have to remember that we dealing with programmable currency here. The Bitcoin community might decide to sub-divide a bitcoin into smaller pieces 0.000000001 and call the smaller units Nakamoti's. ^smile^ Bitcoin can be changed to suit our changing needs over time and that is what is making it special. OP is 100% correct, we should forget about dealing with only Bitcoin, but rather focus on educating people about bits and Satoshi's and later Nakamoti's ^smile^

[deisik]

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

Fees are completely irrelevant to this in every possible way.

They have no relation to whether someone is considering buying 1 BTC or 1,000,000 "bits".
Of course, a "Bitcoin", is just 100,000,000 spendable units.  If the Bitcoin price were $100,000 for example, they'd be spending 1000 bits when they spend $100.  That makes way more sense than spending 0.001 BTC, which is annoying to deal with and for people to get their head around when they're used to spending fiat currency

I think I have explained it pretty well

Now you may want to try to explain it as well how people are going to spend 1000 bits if transaction fees would to half (or more) of that value. At first, you make a theoretical inference (claiming that fees have "no relation to whether someone is considering buying 1 BTC or 1,000,000 bits"), and then you proceed to a practical question of spending 1000 bits totally ignoring the implication that you may not be able to spend that amount due to insane fees

[UCHCHILD]

I agree with the OP because having small value as 0.01 can make you rich in the future because the value is totally increasing every now and then. Not olny having 1 btc can make you rich in the future invest only as much as you can because it can make you more richer just keep your coin in your wallet, accumulating 1 btc is not a joke it is too big but it is not bad to dream having 1 bitcoin in the wallet dream only the thing you can have.
So for me 0.01 or 0.10 is enough for investment at the moment it is the only thing I can manage to have in my wallet now.

[deisik]

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

And everyone else should always keep them in mind. Really, what's the purpose of 100 satoshi if it will remain dust even in the case these diamond crumbs cost a fortune (in dollars)? It's okay with the price going exponential but it is certainly not so good (mildly speaking) if the fees rise as fast or even faster. In fact, if they continue to grow, the available range for ordinary folks to buy in will be narrowing with each price rally. This is not a good thing. On the one hand, exchanges are setting lower limits for minimum orders, but, on the other hand, rising fees quickly make these orders meaningless

some exchanges are already moving to mbtc right now. then later drop again to ubtc(bits)

where the fee is 'commonly discussed' as ~1000bit($2) per tx, instead of 0.001btc(~$2)
meaning people in conversation and website/app display visualise it as ~1000bit($2) per tx, instead of 0.001btc(~$2)

the logic would be that if price goes up.. the 'unit of measure' for everything goes down.


then when lets say btc price goes to $20k
the fee becomes ~100bit($2) per tx, (0.0001btc~$2)


then when lets say btc price goes to $200k
the fee becomes ~10bit($2) per tx, (0.00001btc~$2)

if you think that if BTC went upto $20k people would spend $200 a TX... then you might aswell call bitcoin useless
no one would spend $200 a tx

Honestly, I don't understand your arithmetic

You talk about some bits (10 bit, 100 bit, etc), and as I understand it, you refer to some fractions of Bitcoins (like ubtc, or microbtc, i.e. 1 millionth of 1 bitcoin). So far so good, but you may have to explain why you expect that with Bitcoin price rising further, the fees are going to remain the same in dollar terms (which is what your "calculations" basically seem to come down to)? Whenever I see their size recommended somewhere, the question is always about setting the fee in satoshi per byte. In this way, I think I can safely assume that they will remain the same in Bitcoin terms, i.e. they will rise linearly with Bitcoin price rising (if mining paradigm doesn't change, of course). Moreover, recently we have seen the fees skyrocketing on their own, even in Bitcoin terms. For a few years the fee per transaction had been more or less about 10k satoshi, now it is closer to 100k satoshi (~2 dollars)

[RubyM]

It doesn't matter whether owning 10 BTC or 0.1 BTC, what matters the most is the fact that you are owning a BTC, and it might happen that you make use of that 0.1 and end up having a lot. If you have 0.1BTC I consider you as being fortunate since a lot of people trying hard to get the 0.1 through faucets but yet they struggle. It takes too much effort to own 0.1BTC, consider yourself lucky if you are owning 0.1BTC

[SingAlong]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

The thing is newbies will get it in the hard way especially now that they can't do small transactions since fees will surely eat up their hard earned Bitcoin. Now that's sad. But it is not impossible since it really is feasible to achieve 1 BTC as long as you have the determination and eager to learn more as to how you will earn more.

[redbee]

crypto currency will die soon, you guys will see...

Do you have a proof for prove it, I not see an issue can kill Cryptocurrency, if Bitcoin can't fix it's problem, an Altcoin will replace it, look like ETH now!

[virtualdn]

You need to rethink yourself, since when 0.01 or even 0.1 could bring us wealth? you are living in a fantasy world.
Could you imagine a person holding even 10 bitcoins becoming rich in the future? I couldn't, if you want to get rich in future you need to have at least more than 50 bitcoins and stop fooling yourself.

Yes I can imagine, 10 BTC is a reasonable amount to become rich in 10-20 years.

BTC can grow up to $100,000 or even $500,000 a coin so rethink... also it depends where you live, $10,000 for many is a fortune

[JohnBitCo]

And the OP is basing their magical knowledge of what a new person is thinking based upon what?  The very first purchase that most people I know was for 1 BTC or more, perhaps you should stop basing your magic predictions on the people in your personal household.
 

[szpalata]

And the OP is basing their magical knowledge of what a new person is thinking based upon what?  The very first purchase that most people I know was for 1 BTC or more, perhaps you should stop basing your magic predictions on the people in your personal household.
 

The OP has a point because not everyone sees $2,500 per Bitcoin the same way. There are poor countries and poor people all over the world who would also want to come into Bitcoin but are just discouraged just upon hearing the cost of a single Bitcoin and going forward as the prices are likely to increase even further it makes every sense to rethink again because it might lead to a class of people who will be using Bitcoin and not everyone from all social classes.

[LodisMcguire]

You know,most people don't like the idea of small amount like 0.xxxx,if there are zero in the front,they didn't even think about it
For the small owner of bitcoin,we should call it satoshi,like 100k satoshi or so,if using term bitcoin,it would look small and not worth it

[BingoDog]

It's true, 1Bitcoin is not worth equaly everywhere in the world. In poor countries this is a fortune, on.some even more then one year income. And in rich countries people look totaly different at bitcoin price, for some this far less than monthly income, so differences are very big.
For people in poor countries the only profitable solution is to earn bitcoins and that can also help them financialy.

[indocafe]

Not directly for newbie can get 1 btc karna for beginner may only get 0,01 btc just been big enough and if want to get 1 btc for beginner or new will membutukan process in long term until 1 btc

[Drnice]

Everyone new to Bitcoin, will say that earning 1btc is like impossible, but every possibility of earning 1btc starts when you start get 0.001 btc, just as time goes on, with time given to it, you are already on your way of making 1btc.

Stating with buying of Bitcoin can also help reduce stress of getting 1btc.

[BitFinnese]

It doesn't matter whether owning 10 BTC or 0.1 BTC, what matters the most is the fact that you are owning a BTC, and it might happen that you make use of that 0.1 and end up having a lot. If you have 0.1BTC I consider you as being fortunate since a lot of people trying hard to get the 0.1 through faucets but yet they struggle. It takes too much effort to own 0.1BTC, consider yourself lucky if you are owning 0.1BTC

I think numbers matter in BTC. since the conversion depends on the number of BTC we have.  Though I can say it takes time to earn 0.1 BTC if we cannot offer any decent skills. But if we have enough, we can set a part of the BTC earning into savings and keep them in a safe holder.  We can also buy satoshis than aiming for the whole BTC if we think that it is really expensive.

[the_poet]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

[avikz]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Droplets of water makes ocean to come to live. So owning any amount of BTC is good as the price will increase over time. However, one should keep accumulating their bitcoin and should not spend it unless an emergency. IT will certainly help that person achieve their financial dreams.

We all have started off with small fortune and with out great work and dedication, we made it big. I only started my online career with just a small earning from a signature campaign. With time, with my dedication in trading, I made it big and still going strong with my bitcoin savings. So no matter how you have started, but you have to stick around.

[MWesterweele]

It doesn't matter whether owning 10 BTC or 0.1 BTC, what matters the most is the fact that you are owning a BTC, and it might happen that you make use of that 0.1 and end up having a lot. If you have 0.1BTC I consider you as being fortunate since a lot of people trying hard to get the 0.1 through faucets but yet they struggle. It takes too much effort to own 0.1BTC, consider yourself lucky if you are owning 0.1BTC

We need to think that our bitcoin is for our future use and we will never use it until the day that we will need it for an emergency use or for our retirement. It is better to save some of it for our future use and i think it is good for our lives to make it better.

[deisik]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder

We should first get rid of high transaction fees

Really, what's the use of fractional units if you can't work with them in any meaningful way? On the one hand, the Bitcoin price has been rising and that perfectly justifies the use of sub-Bitcoin units, but, on the other hand, the fees are rising even faster than the price itself which makes their use next to impossible in practice. In other words, Bitcoin more and more becomes elitist (like Berkshire Hathaway stock), i.e. not available to wide masses of general public. If you have to pay 1% from 0.1 BTC as fees (i.e. ~2 dollars), you may really fare better with fiat, after all

[Juggy777]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

True many people bulk out after hearing the prices of one Bitcoins and there so much information that people are really confused as to how they will be able to afford Bitcoins, recently when I was with friends and it was rising they were saying it is not possible to own a Bitcoin and some were like let's buy a whole Bitcoin, sensing they were confused I told them to buy in small quantities and as expected they did not know this, as not many people know this, it's important to spread the right knowledge.

[maku]

The thing is newbies will get it in the hard way especially now that they can't do small transactions since fees will surely eat up their hard earned Bitcoin. Now that's sad. But it is not impossible since it really is feasible to achieve 1 BTC as long as you have the determination and eager to learn more as to how you will earn more.

Fees are not that ridiculous, they are high but if you didn't collect dust in your wallet you will manage. If you don't need to use BTC so wait for the scaling solution to be implemented.
Bitcoin upgrade which awaits us in the second half of the year hopefully will reduce fee rates significantly. Util then use bitcoin as emergency payment method only.

[Rinder]

I did understand op, since we are all from different countries with different jobs as well income, not all of us can get 1 btc all months, soo people are acumulating a portion of it, the thing is doing those all are saving and in the future all will be able to collect their profit accordingly the coins they have.

[adzino]

1 BTC has its own value and so does 0.1 or 0.001 or 0.0001 bitcoins. They are measured in satoshi just like we measure in cents. Every bits of the coin is worth something. The higher the price of bitcoins goes, more valuable those small amounts will be. Its like after few years the value of 0.1btc might be the same as the todays value of 1btc.

[romero121]

To the one who has the good understanding about bitcoin it's not that tedious to make him understand that a small portion of the bitcoin too is a good profiting asset. Based on what we hold the price profiting will be , and if one doesn't have even this sense then anytime he cannot be able to use bitcoin.

[AicecreaME]

We should not look at 1 bitcoin as a very expensive currency because in the next few years it will go up even higher and even more expensive and when that moment comes then the only thing that we will feel is about regretting the opportunity to buy at the rate now and just hold it. Another thing is, it is not required to buy a whole bitcoin because we can either buy it piece by piece or work hard to get at least some of it and just do saving and keep collecting until we reach 1 bitcoin.

[Yakamoto]

The thing is newbies will get it in the hard way especially now that they can't do small transactions since fees will surely eat up their hard earned Bitcoin. Now that's sad. But it is not impossible since it really is feasible to achieve 1 BTC as long as you have the determination and eager to learn more as to how you will earn more.

Fees are not that ridiculous, they are high but if you didn't collect dust in your wallet you will manage. If you don't need to use BTC so wait for the scaling solution to be implemented.
Bitcoin upgrade which awaits us in the second half of the year hopefully will reduce fee rates significantly. Util then use bitcoin as emergency payment method only.

Exactly. The fees are not terrible if you have anything that isn't just small amounts in your wallet from whatever faucet you've been using. If they were as bad as everyone wanted to say they are, people simply would stop using Bitcoin and that would be the end of it for a lot of people. But they keep coming back, or never leave in the first place.

Wasn't there some agreement made for implementing segwit within the next 3-4 months? I could have sworn I saw something about an agreement like that which had 80%-some of the hashing power, along with many businesses, behind it.

[squatz1]

Well, this is only the real issue when 1 BTC is hitting a high price like it is now. This really wasn't as much of an issue when I first started and the price for 1 BTC was around $300-500 and owning one was nice and all but it wasn't such a high task to achieve. So it's not like we're looking at 1 BTC as being hard to hit, we're talking about how the price of the currency at 1 BTC is a high price point and hard to get to.

Though, I do seem to understand what you mean about the whole if you own .1 at x price you're still going to have a part of this wonderful asset and so on.

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

[lmzxu]

Even in the best case scenario and BTC hitting unrealistically high values like $100,00,00, Having something like 0.10 or 0.01 BTC can't be called a bad thing, since you would get something from the cake HOWEVER if getting a full bitcoin at one time would be possible, that would be a reason of regret of not buying it, in this scenario case, even though a fraction does work, it would still mean you are not heavily investing into this market.

[NJB18]

Newbies, just remember what Lao Tzu said. "A journey of a thousand miles begins with a single step."  

It is good to dream big and have a goal but please be patient. Sometimes success really takes time. I mean, if the 1 bitcoin you are talking here is an earned one not just bought or replaced with its fiat value.

If you are trading, you will get there soon. But it is not good to rush things.

[the_poet]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

[Pettuh4]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

[hatshepsut93]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

Good point, but satoshis are too small now, people don't like operating with big numbers either, usually people all over the world evaluate money in US dollars, even if they use their native currency most of the time, because US dollar is stable and can be exchanged almost everywhere in the world. So, mBtc is the best unit now, until we reach 5 digit values of Bitcoin.

[Tyrantt]

Well people don't tend to look at values in decimals, of course if some new guy is looking to buy a bitcoin, he's going to go for the round number and probably won't even cross the mind to buy something like 0.3 or less. Now we can start using some different terminology for 1$ of bitcoin (aprox 0.0004) instead of speaking of 1btc that's $2.5k.

[angaper]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

There are still many bitcoiners who dream of the day when each satoshi is worth a dollar, and maybe that's the reason so many newbies still waste their time in faucets to get a few satoshi every day.

I personally do not think that will ever happen, nor do I think it is a good idea to focus all our efforts on acquiring bitcoins, as it seems ideal and more realistic to achieve our financial goals to save some amount of coins as a long-term investment, while we diversify our capital into multiple investments of varying degrees of risk to ensure a quiet retirement without depending entirely on the future of bitcoin.

[aTriz]

Any amount of bitcoin is good to start with, sure 1 BTC might be ideal to get you started trading and all that. 1 BTC isn’t a really big amount to be honest. We need to stop this negative thinking about how one bitcoin is so hard to earn while in fact if you put some effort in it, there are heaps of campaigns to earn bitcoin and it won’t be long before you will have 1!
 
But I understand what you are trying to say, about how newbies are not really interested into bitcoin since dont have 1 BTC, which they think is what is needed to start trading and investing with Bitcoin. Well to all the new people, any amount is an amount to start investing in. So to all the newbies here, start before it is too late!

[Gastotade]

Any amount of bitcoin is good to start with, sure 1 BTC might be ideal to get you started trading and all that. 1 BTC isn’t a really big amount to be honest. We need to stop this negative thinking about how one bitcoin is so hard to earn while in fact if you put some effort in it, there are heaps of campaigns to earn bitcoin and it won’t be long before you will have 1!
 
But I understand what you are trying to say, about how newbies are not really interested into bitcoin since dont have 1 BTC, which they think is what is needed to start trading and investing with Bitcoin. Well to all the new people, any amount is an amount to start investing in. So to all the newbies here, start before it is too late!

Small amount can be a big amount when managed correctly,joining campaigns will be a way to earn so we can start trading and so on ,just keep on doing task and you may not noticed that you already have 1 Btc in time.

[Omega Weapon]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

The value of a single bitcoin is still not that high in my opinion, also we are going to get in an unstable time in bitcoin and that may be enough to bring the price down in bitcoin and with that some new users will be able to buy bitcoin cheap once again, so don’t renounce to the idea of owning 1 BTC or 10 or 100BTC if you do I will assure you, you will never make them.

[deisik]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

Good point, but satoshis are too small now, people don't like operating with big numbers either, usually people all over the world evaluate money in US dollars, even if they use their native currency most of the time, because US dollar is stable and can be exchanged almost everywhere in the world. So, mBtc is the best unit now, until we reach 5 digit values of Bitcoin

I agree that people may be scared away by the price of a single bitcoin

But, on the other hand, if we launch something like a monetary reform aiming at smaller denominations and a new Bitcoin (today's 1 mBTC) would be worth, say, a few dollars (like it was 7 or so years ago) and thus the total supply becomes 21 billion coins (note that I don't mean removing the cap nor increasing the supply as such), people may start thinking that Bitcoin is too cheap now. So it in fact cuts both ways ("too big, too small, size does matter after all")

[ufaiz50]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

1 btc is indeed expensive for the newbie it's true it will be hard to get it and accept the fact . with minimal experience about bitcoin not even use capital and just earn for free bitcoin. I'm sure after they have a lot of experience for example trading "1 btc too expensive" will disappear and they will say "0.01 btc very cheap". I think they don't mean to say 0.1 btc is not great it's just 1 btc is more than 0.1 btc.

[Pearls Before Swine]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

True that.  I'd add that even doing faucets in the beginning is a worthwhile endeavor.   Bitcoin could go to a million,  and those faucet earnings could become significant.   It's also good for you guys to invest in an English dictionary.   Either that or stick to the local boards. 

[hawthelegend]

Wow, great topic op! And i gotta say, as a newbie with this this, all the replies are really inspiring and full of knowledge. I too am dreaming to have lots of btc in my hands someday, but sadly all the btc i have today is just worth more or less 6 dollars. And my only source of income is signature campaign. Because i have no work or any means that i can take money out of to invest in btc.. wish there was more i could do to earn more...

[rockem5]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I've been thinking about this lately. 1 BTC should be like alot less of a value than the current price. and we have something like 1 MilliBTC or something that could be the higher value. Sorry if my explanation was not clear. English isnt my first language.

[apoorvlathey]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

The people can invest any amount, no matter small, because the profits percentage they would get would be the same.
And as the time passes by, people may invest or earn more according to their needs, because 1 BTC goal may be difficult but not impossible !

[epitome]

The people can invest any amount, no matter small, because the profits percentage they would get would be the same.
And as the time passes by, people may invest or earn more according to their needs, because 1 BTC goal may be difficult but not impossible !

With the price of bitcoin this high,unless you are capable to investing one hundred thousand dollars you wont be able to make any mad profit,people really like to make some profit and it wont happen if you are investing small amount of money,but if you really like to ride the rally then any form of investment will make you a profit.

[Daniel_West]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

The thing is, most people nowadays go to the trading expecting an easy and fast profit, without any back thought. So they buy huge amounts of coins, which in their opinion are about to rise, and then lose their money. I know that from personal experience (several of my friends are complete and utter idiots). On the other hand, trying to trade with a little amount of money, will provide you with needed knowledge, so it's more than not bad for the starters. In fact, it's ideal.

[ilovefeetsmell]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Yeah, it's a great holding that amount of bitcoin. We will know that 0.01 will increase in the dollar in the near future. It's tested and proven years ago. I started collecting bitcoin in December which 1 btc is equal to 1000 USD but see the price of bitcoin now. It is about 2500 USD. It is double the value before, so if I owned 1 btc before so I have 1500USD of profit. Did you see the rapid change amount of bitcoin from December to June? It is quite amazing to own BTC now. So grab and collect it now to have a better future. You can use your money anywhere and whatever you want.

[mk4]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I honestly don't like that 1 BTC is too expensive. I think it's alot better if 1 Bitcoin will be in the same level and value with something like 1 USD. If bitcoin would be used globally, I would have to use mBTC. It would be alot better and easier to say something like "1 large burger = 4 btc" rather than "1 large burger = 4 mBTC / 0.004 BTC".

[soul-impact]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Want to own a bicoin we have to undergo the process of penetration and thorough investigation. In my opinion, owning as many bicoins as possible is not necessarily one. You must know when you own your bicoin. Do not stock up when not profitable. Capital loss is a bad thing.

[itsallpc]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Most people have a misunderstanding that bitcoin could only be bought as a single whole coin with such a huge price.But they have no idea that bitcoin could be divided into eight units and we could even buy 0.00000001 btc which would cost very low.I too advice my friends that they could even buy bitcoin in satoshis which would give them good returns in future.

[Prodigan786]

I don't know about the wealth which makes in future recently I sold some bitcoin earnings from all the source I got past one month which is around 0.05 it gave me more than one year youtube revenue and effort

[hosseinimr93]

I agree with you. Today earning one BTC is so difficult. It needs much time and much effort. Most of peoples cannot afford to buy one bitcoin or even half of it. Today 0.001 BTC can be valuable for future. I myself always use the milli-bitcoin when I want to calculate my earnings. Peoples can use units such as bits, satoshis and milli-bitcoins. A day every satoshi might worth too much. Maybe one day We cannot afford to buy one satoshi.

[deisik]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

The people can invest any amount, no matter small, because the profits percentage they would get would be the same.
And as the time passes by, people may invest or earn more according to their needs, because 1 BTC goal may be difficult but not impossible !

In real life, though, you can't invest any amount

First, you can buy only a certain amount of coins (so-called minimum order size) and at most exchanges it is in the range of 0.001-0.01 BTC (you can calculate for yourself how much that will be in dollars). Further, hefty fees make it meaningless to buy even that much (or little) since you won't be able to withdraw this amount. And if you take into account these circumstances, you will inevitably come to the conclusion that buying less than 100 dollars' worth of bitcoins would be an exercise in stupidity and absurdity

[bamboylee]

Most people have a misunderstanding that bitcoin could only be bought as a single whole coin with such a huge price.But they have no idea that bitcoin could be divided into eight units and we could even buy 0.00000001 btc which would cost very low.I too advice my friends that they could even buy bitcoin in satoshis which would give them good returns in future.

It is merely educating newbies about the units of bitcoin and that they can buy smaller fractions of bitcoin. It is their responsibility to be educated about bitcoin before they get, invest or involved in bitcoin.

[carlisle1]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

That's true, bitcoin is still changing and now we are looking on it including those newbies that it is expensive but in these coming years it will surely become more expensive so that owning even a portion of bitcoin 0.1 for example would be already satisfying . Although bitcoin's price is getting more but still it doesn't limit us to own a satisfying amount .

[fan_of_things_and_stuff]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I honestly don't like that 1 BTC is too expensive. I think it's alot better if 1 Bitcoin will be in the same level and value with something like 1 USD. If bitcoin would be used globally, I would have to use mBTC. It would be alot better and easier to say something like "1 large burger = 4 btc" rather than "1 large burger = 4 mBTC / 0.004 BTC".

Why does that matter though? That's the same saying you don't like USD because it has fractions of them (cents)

[Doms]

When I was new with bitcoin, back when the price was still at $400, I thought as a newbie that one cannot be without buying a whole coin. It was only later that I learned from friends that I can buy small fractions, and that's exactly what I did from time to time, although I have to admit that I still lack the patience to hold and accumulate until I am able to reach 1 bitcoin.

[freeyourmind]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I honestly don't like that 1 BTC is too expensive. I think it's alot better if 1 Bitcoin will be in the same level and value with something like 1 USD. If bitcoin would be used globally, I would have to use mBTC. It would be alot better and easier to say something like "1 large burger = 4 btc" rather than "1 large burger = 4 mBTC / 0.004 BTC".

Why does that matter though? That's the same saying you don't like USD because it has fractions of them (cents)

Any currency conversion is going to take time to understand and value purchases.  We usually have one currency which has an understanding of how much things cost, and then need to convert any other currency to that, in order to understand value.  Bitcoin is no different than trying to understand how many Euros or Pesos or Baht something is.

Almost everyone has a smartphone to do the conversion if you're too lazy to do the math.

[minime]

ya one btc is one btc you should stop thinking in $$$

[Almeida]

Is it really that hard to conceptualize fractions of BTC? .1 BTC ~= $280 and .01BTC ~= $28

Doesn't seem all that difficult to me 

Is it not that it is difficult, it is just that we need to adjust the reference because it is getting cumbersome. No one says "I have 100 cents" when they mean to say they have 1 dollar, nor they say "I have 0.001 thousands". The reference is the unitary dollar and it is easy.

Countries with high inflation often go/went to print absurd bills like "500,000 X$" or something like this. They eventually cut off these extra irrational zeroes on the right to keep the reference easier.

With a deflationary currency like bitcoin the same happens but contrariwise, so we need to "cut off" the extra zeroes on the left in referencing the currency, from time to time. It gets cumbersome to say "I have 0.032532 BTC". If we start to fix satoshies as the reference we can append M, K in front of it. So 0.032532 BTC becomes 3.2532 Mega satoshi, or just 3.2532 Msat. As the coin goes in a deflationary trajectory, soon we will move to Ksat and then just satoshi. This is very easy as everybody is familiar with these measures of magnitude by using computers.

The advantage is also psychological. The same way the countries with "500,000 X$" bills give a false impression it is a lot of money, referring to BTC in terms of the inflationary dollar give the appearance of 1 BTC being "something" which is expensive as hell, while the trully indivisible minimal unit of value is the satoshi. Wow, just one coin costs almost 3 thousand bucks? Wow. That's the current impression.

[Russlenat]

1bitcoin for me is to high because of it's value, I'll just have 0.1 bitcoin for now and it came from 0.01+ btc that I trade so it became 0.1+ now and I have some alt-coin to that I can trade later and convert to btc. If a newbie think that he/she can't get that amount! maybe he must do like this method of trading btc and other alt-coin, or introduce them to do join some signature campaign.

[jualidbitmixer]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Newbie or people that still new about bitcoin always think like that though, it's a bit hard to change that mindset. If you are looking at yourself when still new about bitcoin, you will also think same. I think to change that we need to tell them before you introduce people about bitcoin.

[DoublerHunter]

From the start until now, i always look 1 bitcoin as a very high amount of bitcoin and everyone should own it or gonna have that 1 bitcoin because it is like the key in order to gain good amount of wealth in the future but it is not that easy to get that 1 bitcoin in just a months if we don't have good amount of capital it will cost too much time and perspiration to gain that amount which is a very honorable amount to have.

[nightxglow]

Yes true! It's kinda hard to own 1 btc, but still, a few years ago when 1 btc wasn't really valuable, people didn't really think to save their btc and prefer to sell it. And now, most of them regret doing that because now the value is so high.
Who knows if our 0.1 btc will worth the same amount as 1 btc now in the future? We can't predict that.
Even myself, owning even 0.0001 bitcoin is nice already. I can save it and keep earning btc, and who knows it'll become 1 btc soon? And if not, the price is higher so even owning 0.0001 btc can make me rich? Haha lol. I don't know when it will happen, though.

[xhienigat]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Yes that's true, even if its not 1 BTC as of now in a few years it'll be worth much so it actually is not a bad idea or goal to own less than 1 BTC.

[TheGodFather]

Yes that's true, even if its not 1 BTC as of now in a few years it'll be worth much so it actually is not a bad idea or goal to own less than 1 BTC.

Yes if you are having a bitcoin now at least 1 i know that someday it will be big and it will huge again. So we must think that bitcoin will be an our investment for the future. It will help us so much in the near future therefore when we have an earnings we need to save some of it so that we will have a savings for a future.

[Jherek]

It's not really rethinking the way we look at 1 bitcoin, but rather to revaluate bitcoin altogether. I think this would be a good idea, if it could be implemented. Even though it might seem like we are inflating the bitcoin currency base, and i'm sure that a lot of critics will try to argue this if this idea was ever going to go mainstream, the fact is that this is just a simple revaluation of bitcoin. It's no different from saying that 1 BTC is equal to 1000 mBTC, except now the mBTC is the default value.

It's extremely hard to deal with all the decimal points in bitcoin especially if you are not experienced. I have set all my wallets to bits(uBTC) and mBTC where bits aren't accepted as a value. It's purely mental, but it could make a difference. 1 BTC sounds like a small amount, but really, it's a huge amount for most of us here.

[Golftech]

Yes that's true, even if its not 1 BTC as of now in a few years it'll be worth much so it actually is not a bad idea or goal to own less than 1 BTC.

Yes if you are having a bitcoin now at least 1 i know that someday it will be big and it will huge again. So we must think that bitcoin will be an our investment for the future. It will help us so much in the near future therefore when we have an earnings we need to save some of it so that we will have a savings for a future.

you are so funny but yes the main thing here is 1btc isn't enough if you are planning for a brighter future i guess while btc still cheap better to keep buying and hold me I'm trying to start investing again as i see that btc value will keep rising after another ath has been met more will follow.

[deisik]

It's not really rethinking the way we look at 1 bitcoin, but rather to revaluate bitcoin altogether. I think this would be a good idea, if it could be implemented. Even though it might seem like we are inflating the bitcoin currency base, and i'm sure that a lot of critics will try to argue this if this idea was ever going to go mainstream, the fact is that this is just a simple revaluation of bitcoin. It's no different from saying that 1 BTC is equal to 1000 mBTC, except now the mBTC is the default value.

It's extremely hard to deal with all the decimal points in bitcoin especially if you are not experienced. I have set all my wallets to bits(uBTC) and mBTC where bits aren't accepted as a value. It's purely mental, but it could make a difference. 1 BTC sounds like a small amount, but really, it's a huge amount for most of us here.

I strongly support this view

Decimals are hard to deal with, this is what I've been telling myself a few times. But the "denomination reform" you are talking about right now doesn't make a lot of sense due to insane fees. Ironically, just like 1000 new bitcoins equal to 1 old bitcoins would make Bitcoin look somewhat "cheaper" (this is purely nominal but still), the fees, on the contrary, would look "dearer". Say, today you pay like 0.001 BTC per transaction (which seems like not a big deal, at least, purely psychologically) but tomorrow you will have to pay a whole bitcoin (in denominated bitcoins)

[Omega Weapon]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I've been thinking about this lately. 1 BTC should be like alot less of a value than the current price. and we have something like 1 MilliBTC or something that could be the higher value. Sorry if my explanation was not clear. English isnt my first language.

Personally I prefer to think of bitcoin in terms of mBTC than in a full bitcoin, a full bitcoin is too much valuable and it is not like when you are paying you hand out thousands and thousands of dollars, that is the way I setup my wallet to display the value in terms of mBTC instead of BTC that way I get a clearer idea of the amount of money I have in fiat with the bitcoin that I have.