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Author Topic: When do you think it is the right moment to start using satoshi's? now?  (Read 696 times)
vandeam
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October 29, 2013, 03:26:22 PM
 #1

Hello guys,
i'm looking at bitcoin growth and its growing fast^
for me as "newbie" to bitcoin i'm confused how much is mBTC or uBTC.
why dont we make it simple for everyone and just use satoshi's
it means that 1,000,000 satoshi's will make 1 BTC.
10,000 satoshi's are currently 2USD.
satoshi is simple than mBTC and uBTC, atleast for me.


or when do you think is the right moment to start using satoshi's at 1k$ USD per BTC or 10k$ per BTC?

also i think it will be more attractive for new people to start purchasing 100k satoshi for 20$ than 0.10 BTC for that SUM?
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Rannasha
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October 29, 2013, 03:34:26 PM
 #2

1. there are 100,000,000 satoshis per bitcoin, not 1,000,000.
2. there is nothing simpler about using the term 'satoshi' to represent a fraction of a bitcoin. 'milli' and 'micro' are well-established terms to represent one-thousandth and one-millionth as used by 95% of the world as it's a part of the metric system used by all but 3 countries on this planet.
vandeam
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October 29, 2013, 03:49:23 PM
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1. there are 100,000,000 satoshis per bitcoin, not 1,000,000.
2. there is nothing simpler about using the term 'satoshi' to represent a fraction of a bitcoin. 'milli' and 'micro' are well-established terms to represent one-thousandth and one-millionth as used by 95% of the world as it's a part of the metric system used by all but 3 countries on this planet.

1. Thanks for making that clear for me.
2. maybe its being use, but not everyone understands it, still think we should start using "satoshi's" for buying things like this monitor for example https://www.bitcoinstore.com/planar-pll2410w-24-edge-led-lcd-monitor-16-9-5-ms.html
i think it would be easyer for the eyes and mind to see 63,690,000 satoshi for that monitor *on second though its too big of a number for monitor, maybe delay this for when it will cost 10k$ for each btc
and not 0.6369 btc.
because we dont like to use 0.*** numbers its easyer with full numbers.
DannyHamilton
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October 29, 2013, 04:02:16 PM
 #4

1. there are 100,000,000 satoshis per bitcoin, not 1,000,000.
2. there is nothing simpler about using the term 'satoshi' to represent a fraction of a bitcoin. 'milli' and 'micro' are well-established terms to represent one-thousandth and one-millionth as used by 95% of the world as it's a part of the metric system used by all but 3 countries on this planet.

1. Thanks for making that clear for me.
2. maybe its being use, but not everyone understands it, still think we should start using "satoshi's" for buying things like this monitor for example https://www.bitcoinstore.com/planar-pll2410w-24-edge-led-lcd-monitor-16-9-5-ms.html
i think it would be easyer for the eyes and mind to see 63,690,000 satoshi for that monitor *on second though its too big of a number for monitor, maybe delay this for when it will cost 10k$ for each btc
and not 0.6369 btc.
because we dont like to use 0.*** numbers its easyer with full numbers.


Probably a good time to start using mBTC.

Then that monitor would be 636.90 mBTC.  A nice easy number to work with.

At the time I'm writing this post, BitStamp exchange rate is $200.24 per BTC.  That's just a bit over $0.20 per mBTC (or another way of looking at it is 4.994 mBTC per dollar)

So if you see something priced as 636.90 mBTC, you can simply multiply by $0.20024 (or divide by 4.994) to find it's equivalent in dollars.

BurtW
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October 29, 2013, 04:15:39 PM
 #5

Since you seem confused maybe this will help you:

Code:
       BTC     milli BTC      micro BTC      Satoshis
----------   -----------   ------------   -----------
1.00000000   1,000.00000   1,000,000.00   100,000,000
0.10000000     100.00000     100,000.00    10,000,000
0.01000000      10.00000      10,000.00     1,000,000
0.00100000       1.00000       1,000.00       100,000
0.00010000       0.10000         100.00        10,000
0.00001000       0.01000          10.00         1,000
0.00000100       0.00100           1.00           100
0.00000010       0.00010           0.10            10
0.00000001       0.00001           0.01             1

In the long term if when one Satoshi becomes worth about one cent (each BTC = one million dollars) then micro BTC would be the obvious unit of choice.

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