PETITION to list all BTC on exchanges in mBTC

[Mysterio]

Think about this, 
by listing BTC only in mBTC on every exchange
you could effective increase the float 1000 fold,
changing the effective float from 1 million to 1 billion
it also effectively acts like a stock split
and allows more players in the market
at smaller increments, which creates more demand over larger scale. 

I was on the original development forum and own BTC from .14cent
helped design the bitcoin symbol in design discussions and other development tasks.

I PETITION ALL OF YOU TO PASS THIS ALONG TO THE EXCHANGES AND MAKE IT HAPPEN, YOU WONT BE SORRY.

[Poker Player]

I see some sense in what you say but I'm not sure it would work. Besides, why don't listing directly in satoshis? Would that be left for future "splits"?

[20kevin20]

I'm against it honestly. We've seen what happened to Elrond (ERD) once they've changed their supply by a thousand fold - changing from BTC to mBTC would make a lot of people mistakenly believe we've increased the total supply.

[thecodebear]

it also effectively acts like a stock split
and allows more players in the market
at smaller increments, which creates more demand over larger scale. 

....but it doesn't though. Bitcoin ain't stocks. Stocks you have to buy 1. Berkshire Hathaway at like $300k...can't buy shares unless you have $300k, or $600k, etc. Bitcoin at $30k or $300k or $3 million, you can buy any amount you want. It doesn't act like a stock split, it doesn't allow more players in the market.

Anyone who doesn't do enough research on Bitcoin to know you don't have to buy a whole Bitcoin, isn't getting into the market in the first place, as that would be one of the first questions they would ask.

[mk4]

I see some sense in what you say but I'm not sure it would work. Besides, why don't listing directly in satoshis? Would that be left for future "splits"?

Though I also like sats, the argument against it is that it's current price is too low. It would be better to use sats if it's value is at least around $0.0X; but then again, I don't think it would be a good idea to switch to mBTC temporarily then move to sats as it would be a bit too confusing for some people. One switch at maximum imo.

If anyone wants a conversation concerning switching denominations: Topic: Using a lower bitcoin denomination(bits/sats/millibits): Which side are you on?

[hatshepsut93]

I don't agree that this is like a stock split or that it will cause some big effects. It's just a matter of preference and convenience. There should be an option to change Bitcoin denomination on client's side, just like you can do already in some wallets, but forcing it on users is such a bad idea, lots of people will wake up in the morning, log into their exchange accounts and have a mini heart attack.

[Mysterio]

ok , Ill reword my argument....

price is based on scarcity, thats a law of economics,  there is scarcity at play (1 million),
and that creates large values on few items such as $40k BTC.

most people are scared off of $40,000 BTC / 1 million coins vs. $40.00 per mBTC unit at 1 billion, makes it more accessible,  its just a matter of Psychology,  the "float" has to increase to make it accessible and psychologically dumb enough , and bite size enough, for wide adoption and investment.

if the psychological price per "entry point" is not lowered it will remain out of the scope and reality of the average person. 

so,  do we want their money in the liquidity pool?  why wouldnt we? more liquidity, more demand, more market. 

Its all psychology, just like the mind F### of modern politics. 

I see some sense in what you say but I'm not sure it would work. Besides, why don't listing directly in satoshis? Would that be left for future "splits"?

[itovault]

Using mBTC is a good idea!  People definitely have a unit bias, and with BTC at $40,000, people see that number and think that it can't go up much more. 

Then you have coins like XRP exploiting this bias and having 30 cent coins.

[NeuroticFish]

Its all psychology

If you manage to convince all the exchanges, and wallets, and block explorers too do this change to mBTC, then it could be good.
But if is not done properly you'll get a bunch of people here feeling scammed that they bought 10 something and they received only 0.01 something.
I'm not sure how many would understand and how many would be unhappy and maybe new opponents of Bitcoin.