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the_sunship
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November 26, 2013, 05:30:03 PM |
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+1
i would also like to see mBTC.
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DeathAndTaxes
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Gerald Davis
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November 26, 2013, 05:43:57 PM |
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The big factor that you have not brought up is if bitcoin splits into mbtc or something, so that a 1000 dollar bitcoin is now a 1usd mbtc. This would be the smart thing for bitcoin to do in my opinion. "for Bitcoin to do". Remember Bitcoin can't do anything. The protocol already supports divisions down to 1 sat. When you send "1 BTC" you are actually transfering a value = 100000000. Most clients allow you to show balances in mBTC, uBTC or satoshis. There will be no formal proclemation. If MtGox tomorrow wanted to change their exchange to show bids, quotes, and balances in mBTC they could and if they don't want to for the next decade nobody can force them. |
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Rival
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November 26, 2013, 06:00:46 PM |
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No one ever said it will not be possible to profit from altcoins.
Aside from a potential for profit by traders and miners , there is no real reason for any of them to exist so long as the bitcoin network maintains it's integrity.
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Syke
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Activity: 3878
Merit: 1193
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November 26, 2013, 06:12:22 PM |
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Isn't it possible that instead of 100000USD worth of BTC, we will remain in current price and we will have dozens of altcoins valued 100-1000USD each?
I think it's possible in the long run. Bitcoin isn't everything to everyone. For instance, bitcoin is currently poorly suited to microtransactions and fast confirmations. It may not be possible to add that to bitcoin. Eventually a micro-transaction fast altcoin may gain significant traction. |
Buy & Hold
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hacknoid
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November 26, 2013, 07:05:21 PM |
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The big factor that you have not brought up is if bitcoin splits into mbtc or something, so that a 1000 dollar bitcoin is now a 1usd mbtc. This would be the smart thing for bitcoin to do in my opinion. "for Bitcoin to do". Remember Bitcoin can't do anything. The protocol already supports divisions down to 1 sat. When you send "1 BTC" you are actually transfering a value = 100000000. Most clients allow you to show balances in mBTC, uBTC or satoshis. There will be no formal proclemation. If MtGox tomorrow wanted to change their exchange to show bids, quotes, and balances in mBTC they could and if they don't want to for the next decade nobody can force them. Exactly. A bitcoin won't "split into mbtc" - it already IS mBTC - exactly 1000 of them. Or exactly 1,000,000 uBTC. They are the same thing. So a 1000 dollar bitcoin already is a 1 dollar mBTC. |
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justanickname (OP)
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November 26, 2013, 07:20:21 PM |
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The big factor that you have not brought up is if bitcoin splits into mbtc or something, so that a 1000 dollar bitcoin is now a 1usd mbtc. This would be the smart thing for bitcoin to do in my opinion. "for Bitcoin to do". Remember Bitcoin can't do anything. The protocol already supports divisions down to 1 sat. When you send "1 BTC" you are actually transfering a value = 100000000. Most clients allow you to show balances in mBTC, uBTC or satoshis. There will be no formal proclemation. If MtGox tomorrow wanted to change their exchange to show bids, quotes, and balances in mBTC they could and if they don't want to for the next decade nobody can force them. Exactly. A bitcoin won't "split into mbtc" - it already IS mBTC - exactly 1000 of them. Or exactly 1,000,000 uBTC. They are the same thing. So a 1000 dollar bitcoin already is a 1 dollar mBTC. The point is branding. no one wants to buy 1 coin for 1000 dollars but buying a coin for 1 dollar seems cheap. Of course it is the same but most people are dumb and act emotionally. |
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superduh
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November 26, 2013, 07:43:09 PM |
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one mbtc is worth $1! problem solved
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ok
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hacknoid
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November 27, 2013, 01:45:46 AM |
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The big factor that you have not brought up is if bitcoin splits into mbtc or something, so that a 1000 dollar bitcoin is now a 1usd mbtc. This would be the smart thing for bitcoin to do in my opinion. "for Bitcoin to do". Remember Bitcoin can't do anything. The protocol already supports divisions down to 1 sat. When you send "1 BTC" you are actually transfering a value = 100000000. Most clients allow you to show balances in mBTC, uBTC or satoshis. There will be no formal proclemation. If MtGox tomorrow wanted to change their exchange to show bids, quotes, and balances in mBTC they could and if they don't want to for the next decade nobody can force them. Exactly. A bitcoin won't "split into mbtc" - it already IS mBTC - exactly 1000 of them. Or exactly 1,000,000 uBTC. They are the same thing. So a 1000 dollar bitcoin already is a 1 dollar mBTC. The point is branding. no one wants to buy 1 coin for 1000 dollars but buying a coin for 1 dollar seems cheap. Of course it is the same but most people are dumb and act emotionally. Yup - and you are 100% correct on that. If current prices were quoted per mBTC, people would hardly bat an eye at the fluctuations because it would look like a penny stock. I just take exception because there are people that talk about BTC making a "split" like it was a stock. It's definitely about marketing. A bitcoin is still a bitcoin, but the price is $0.90 per mBTC is certainly a lot less intimidating (especially when I have seen people who are still apparently not aware that you can buy a portion of a bitcoin...) |
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ImI
Legendary
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Activity: 1946
Merit: 1019
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November 27, 2013, 02:38:02 AM |
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mBTC or BTC doesnt matter.
only thing that matters in terms of dillution is marketcap. and therefore the big marketcap of btc leads to lesser swings.
altcoins are attractive cause they still offer the possibility of very strong profits cause they have so little marketcaps.
problem for bitcoin? maybe. but not at the moment i'd say.
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