Poll to switch over to mbtc

[Siegfried]

4 letters/syllables is too awkward.

[1714821520]

1714821520

[maxr3nn]

I propose we name 0.001 btc a "gox", in honor to Mt.Gox. Let's take the following example:

"I want to sell my car for 20 gox."

Advantages:

- It sounds nice and rolls off the tongue nicely
- Mt.Gox played an important role in the history of Bitcoin
- It's short and easy to type
- It is unique and cannot be confused with other currencies
- Sounds similar to "bucks"

Disadvantages:

- It's not possible to infer that gox refers to 0.001 btc if you see it for the first time

[jojo69]

I'm sorry but I hate mBTC. It is annoying, confusing and you can't make me use it.

yeah, and MHz is confusing, should say "million oscillations per second"

also Giga Byte, totally confusing

Kilo Gram, how am I supposed to keep track of all this

I are too stoopid to do basic units notation  

[TheFacilitator]

Yep, Im going to start refering to my stash as millibits. I wish online wallets displayed it as such.

[bryant.coleman]

I want to switch over to mBTC (or even to uBTC in the future). But mBTC is such an ugly name. I don't want to use that term. As long as the term is not changed, I am not supporting this initiative.

[User101]

and in 4 years we will have the same pool again discussing if we should switch to uBTC?
We need to think longterm, also Media gives no attention to small numbers.
We can be sure to get a report for every small milestone as 1500, 2000, 2500 etc. they won't report if we decide universally to 1.5$ mBTC

100000 satoshis for 1$ sounds like a good deal

[lnternet]

kinda like the "gox" idea

although not sure if everyone's connotation of gox is positive

[User101]

mtgox
magic the gathering online exchange

[bryant.coleman]

and in 4 years we will have the same pool again discussing if we should switch to uBTC?
We need to think longterm, also Media gives no attention to small numbers.
We can be sure to get a report for every small milestone as 1500, 2000, 2500 etc. they won't report if we decide universally to 1.5$ mBTC

100000 satoshis for 1$ sounds like a good deal

I think if we re-denominate to mBTC, then the media sources will use the market cap rather than the exchange rate. The current market cap is around $11.66 billion. In future, media will report like "BTC breaks $25 billion market cap" and such.

So there is no problem with media publicity.

[Sir Lagsalot]

I think if we re-denominate to mBTC, then the media sources will use the market cap rather than the exchange rate. The current market cap is around $11.66 billion. In future, media will report like "BTC breaks $25 billion market cap" and such.

So there is no problem with media publicity.

I disagree. The media likes price charts, especially the damn Gox chart. I'd rather they use Bitstamp or, even better, an average across exchanges. But they won't change that, and they certainly won't change to market cap reporting for our convenience. Switching to mBTC would totally confuse the layperson, they'd be like "Bitcoin was $1000 and now it's $1? It's crashed omg!"

[kwoody]

It's not time to use it yet. Bitcoin needs to be stable over $1000 for a considerable length of time to justify the use of mBTC. Yes, it's reached $1000/BTC, but it isn't guarenteed. $1000 is the threshold, I agree on that much, since $1000/BTC = $1/mBTC. But stability is important before making the transition.

[XBBlade]

I propose we name 0.001 btc a "gox", in honor to Mt.Gox. Let's take the following example:

"I want to sell my car for 20 gox."

Advantages:

- It sounds nice and rolls off the tongue nicely
- Mt.Gox played an important role in the history of Bitcoin
- It's short and easy to type
- It is unique and cannot be confused with other currencies
- Sounds similar to "bucks"

Disadvantages:

- It's not possible to infer that gox refers to 0.001 btc if you see it for the first time

Are you on drugs?

[bryant.coleman]

I propose we name 0.001 btc a "gox", in honor to Mt.Gox. Let's take the following example:

"I want to sell my car for 20 gox."

Advantages:

- It sounds nice and rolls off the tongue nicely
- Mt.Gox played an important role in the history of Bitcoin
- It's short and easy to type
- It is unique and cannot be confused with other currencies
- Sounds similar to "bucks"

Gox sounds much better than mBTC. The proposal can be considered.


Subdivisions of the basic monetary units are usually short in length. For example Dollar / cent, Ruble / kopek, Rupee / paise. So Bitcoin / gox sounds better.

Are you on drugs?

Please elaborate!

[XBBlade]

Are you on drugs?

Please elaborate!

Sorry, but this means giving credit to MTgox. All I hear about Gox is that you shouldn't use it because of the huge delays and bad response of customer service.  

[bryant.coleman]

Sorry, but this means giving credit to MTgox. All I hear about Gox is that you shouldn't use it because of the huge delays and bad response of customer service.  

Most of those troubles is because of the unofficial "boycott" of Gox by the bankers in USA and Canada. Gox want to pay its users on time... but what they can do if the banks refuse to move their money?

[BlazeOfGlory]

Why not mils? Then you can do this:

“Currently, 1₥ is worth about $1.10.”

And if you ever need to clarify which currency you’re referring to:

“Currently, 1₥ BTC is worth about $1.10 USD.”

[Aswan]

Why not mils? Then you can do this:

“Currently, 1₥ is worth about $1.10.”

And if you ever need to clarify which currency you’re referring to:

“Currently, 1₥ BTC is worth about $1.10 USD.”

I started calling them mills months ago, but with 2 "L"s

oh btw, is there a way to change armory to mills? I havent found an option to do so.

[solomon]

http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/

[ajax3592]

Umm, it's a bit confusing to noobs. Otherwise, now is a good time to switch to mBTC