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BitTrade (OP)
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November 18, 2013, 07:44:24 AM |
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I'm wondering what the consensus is on this issue. I'm not talking about a name for the unit, but rather which denomination is more ideal to use.
It seems like the main issue with this debate is whether or not the value of Bitcoin will 'outgrow' the .001 unit, just as we have 'outgrown' 1BTC.
What are your thoughts?
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calian
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November 18, 2013, 08:23:42 AM |
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There's been a plethora of discussions on this. Consensus gravitated towards the following units:
.001 mBTC
.000001 µBTC or uBTC
.00000001 satoshi
I wish they'd alter the client as was done for the onecoin alt where you can set whatever scale of units you want to look at. Gaze in wonder at your millions of satoshis.
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safeminer
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November 18, 2013, 10:00:15 AM |
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there have been quite a few topics on this, but i think to prevent confusion we just stick to BTC until we can go to Satoshi's
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BadAss.Sx
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Bulletproof VPS/VPN/Email @ BadAss.Sx
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November 18, 2013, 10:03:24 AM |
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No, to get more investors we NEED to go to uBTC. The price is too high now for new investors. Normal people are scared now when they see the prices and don't understand that you also can buy 0.01BTC.
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spect0r
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November 18, 2013, 10:20:04 AM |
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mBTC soon to reach dollar parity. Makes for quick and easy price understanding.
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sdp
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November 18, 2013, 11:10:07 AM |
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It's not too high. If someone invests $100 a month, then that's 0.16 BTC right now. So, what? That's not too small. The software libraries that we use have not written to put thousands separators on the right side of the decimal place:
The following Python code (after the needed import statement prints "3.14159"
In QT:
locale = QLocale ("US")
print locale.toString(3.14159)
However 1000000 is printed as:
1,000,000
By default in both python, C, C++ commas are not put into the numbers.
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Coinsbank: Left money in their costodial wallet for my signature. Then they kept the money.
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DobZombie
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November 18, 2013, 11:22:08 AM |
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The mu confuses people.
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Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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sdp
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November 18, 2013, 11:34:04 AM |
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If you believe we should stick to BTC, vote other.
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Coinsbank: Left money in their costodial wallet for my signature. Then they kept the money.
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BadAss.Sx
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November 18, 2013, 11:42:10 AM |
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My prediction is that uBTC is just good enough. Just remember that there are only 12mil coins for 7 billion people. mBTC would be ok for now yes, but at the end we have to go to uBTC, so you better use uBTC now, so people can get used to it.
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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November 18, 2013, 12:10:43 PM |
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1 mBTC is small enough I think.
Only recently 1BTC was small enough. It's hard to move decimal places for people, we should try and do it as infrequent as possible. Better to go an order of magnitude smaller and save us from needing to do it again in a few years. |
more or less retired.
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Liquid
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November 18, 2013, 12:25:52 PM |
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1 mBTC is small enough I think.
Only recently 1BTC was small enough. It's hard to move decimal places for people, we should try and do it as infrequent as possible. Better to go an order of magnitude smaller and save us from needing to do it again in a few years. +1 i think that is better logic im with you rabbit  |
Bitcoin will show the world what hard money really is.
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dserrano5
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November 18, 2013, 12:31:57 PM |
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I'm all for 0.0001 but agree that I'm in a minority group and soon everybody will be using mBTC.
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indianplayers
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November 18, 2013, 02:22:15 PM |
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mBTC is good enough why change  |
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BadAss.Sx
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November 18, 2013, 02:47:38 PM |
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mBTC is good enough why change Because we have to change again when mBTC isn't enough also |
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exynos645
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November 18, 2013, 05:52:41 PM |
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I think that we should use satochis !!!
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crazy_rabbit
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November 18, 2013, 06:23:32 PM |
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mBTC is good enough why change Because it's going to not be good enough so quickly. Once bitcoin gets to $10,000 even a mBTC is going to feel a bit expensive. |
more or less retired.
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BitcoinBarrel
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Fill Your Barrel with Bitcoins!
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November 18, 2013, 06:30:22 PM |
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yeah uBTC and mBTC always get me confused... I like .00000001 BTC better
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TKeenan
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November 18, 2013, 06:42:19 PM |
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The mu confuses people.
There's been a plethora of discussions on this. Consensus gravitated towards the following units:
.001 mBTC
.000001 µBTC or uBTC
.00000001 satoshi
Exactly. Non scientific folks get very nervous with things like 'mu's even mBTC requires an explanation for most people. The explanation gets them uncomfortable and they get suspicious. Just give the fucking thing a proper name and get on with it. 'bitcoin' was the dumbest name anyway. bitcoin is the name of the network and protocol. The name of the currency unit should be something else. Same for 'Satoshi' - second dumbest name ever. Just do something simple and easy like 'Euro'; 'Yen'; 'Peso'. Not everyone who uses this currency system is going to be a nerdy-giggling goofball who like cute silly names for everything. |
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applelover
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November 18, 2013, 06:54:06 PM |
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i think you have to switch units. paying $600 to get just one of something is a huge psychological barrier. right now bitcoins are expensive, but if you move the decimal point they can become cheap.
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dserrano5
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November 18, 2013, 07:35:15 PM |
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i think you have to switch units. paying $600 to get just one of something is a huge psychological barrier. right now bitcoins are expensive, but if you move the decimal point they can become cheap.
OTOH I as a merchant would rather sell a notebook for 0.5 BTC (half a something) than for 500 mBTC (five hundred somethings—ouch). |
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