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Author Topic: millibitcoins  (Read 3253 times)
over1977v
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December 03, 2013, 05:17:30 PM
 #41

My vote is for Satoshis, 1 BTC = 100.000.000 Satoshis, there are a lot of them!

One unit to rule them all!  Wink

I have to agree, it was unfortunate to set Bitcoin at 100.000.000 Satoshis just so mined block can have 50 Bitcoin instead of 5.000.000.000 Satoshis (or Bitcoins). It was helptfull at beginning but now it causes small psychological problems (1 BTC for $1200 ? seems a lot when share prices are rarely above  $1000 )
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Coma
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December 03, 2013, 05:29:51 PM
 #42

mBTC and uBTC seems a lot easier to understand than private and public key basic usage.
PenAndPaper
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December 03, 2013, 07:00:00 PM
 #43

mBTC and uBTC seems a lot easier to understand than private and public key basic usage.

Hopefully at some point you 'll be able to use your coins without having to deal or worry to much with private keys etc. Still you 'll have to deal with prices.
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December 03, 2013, 07:20:58 PM
 #44

I vote for Satoshi

Me too. I've been talking about satoshis for much of the last year.

By the time bitcoins are worth $100,000 each, milliBTC will be as large and cumbersome as whole bitcoins are now.

We already have have satoshis which are small enough for the foreseeable future.

In the early days people had no problem referring to prices in thousands or tens of thousands of bitcoins (e.g. pizza) so it shouldn't be all that hard to say a pizza is worth around a million satoshis at today's prices.
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