1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE

[CEG5952]

Ugh, I bloody hate this idea. BTC should not be pegged to USD value -- there is no reason to change its unit based on the continued rise against USD. If anything, this should be done using an internationally accepted standard, such as the metric system -- not some stupid made-up "bits".

[raskul]

1BTC = 1BTC

it makes no difference how you hard try to brainwash the world into thinking they own 'such-as-many' millibits; it will always be 1BTC = 1BTC.

if you do not already value 1BTC for the value it holds, then why make it look like more than it is?

[CEG5952]

1BTC = 1BTC

it makes no difference how you hard try to brainwash the world into thinking they own 'such-as-many' millibits; it will always be 1BTC = 1BTC.

if you do not already value 1BTC for the value it holds, then why make it look like more than it is?

Clearly, there's a lot of BTC hoarders around here that want to make it more "psychologically attractive" to buy BTC. In other words, fool new investors into thinking they're getting more than they are.

[Plankowner]

1BTC = 1BTC

it makes no difference how you hard try to brainwash the world into thinking they own 'such-as-many' millibits; it will always be 1BTC = 1BTC.

if you do not already value 1BTC for the value it holds, then why make it look like more than it is?

I would have to disagree, Mass adoption will never see 1 BTC, let alone 100,000,000 million satoshi's. If the smallest usable unit is the Satoshi's then why wouldn't it be the standard. It's already established. My issue is those that know and are exploiting this matter are getting 10 mill extra satoshi's per bitcoin transaction. Who cares about the NAME or what you call an unrealistic value. One eighth of a dollar, cent or bitcoin is caled a bit, not this six decimal place bullshit.   

[raskul]

1BTC = 1BTC

it makes no difference how you hard try to brainwash the world into thinking they own 'such-as-many' millibits; it will always be 1BTC = 1BTC.

if you do not already value 1BTC for the value it holds, then why make it look like more than it is?

Clearly, there's a lot of BTC hoarders around here that want to make it more "psychologically attractive" to buy BTC. In other words, fool new investors into thinking they're getting more than they are.

i'm not so sure about it being just hoarders, i'm sure there are large speculators, lunch-box joes and new adopters who think the same thing.
as far as i'm concerned, I just want more vendors and outlets which accept Bitcoin. I want to be able to live, enjoy life, feed my family and survive by Bitcoin - division of the numbers are totally irrelevant and the entire OP is merely psychological which would likely be as much a hinderance as it can be, a progression.

opinions

i call my latest miner - 'plank'  

[bg002h]

Coinbase joined Bitpay on this issue: http://blog.coinbase.com/post/89405189782/its-bits

[juju]

Coinbase joined Bitpay on this issue: http://blog.coinbase.com/post/89405189782/its-bits

I just made a Topic about this Blog article

[coinsolidation]

Humans like to own full unit's of things, and feel that a full unit has value.

Currently 1 BTC is a thing of value.
If/when BTC goes over $1k value again then 1 mBTC is a thing of value.
If/when BTC goes over $1m then 1 bit is a thing of value.

When I say "thing of value" in this context I mean something that people will not throw away too easily.

If everybody has hundreds of thousands, or millions, of bits then the perceived value of 1 bit will go down, making the value overall decrease.

[Plankowner]

Okay!! For some reason, it seems as if ignorance is the new profession!!  Any centralized, organizational structure is irrelevant. Again, I care not about the names of values. For the laymen....Right now if you spend 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you. The Bitcoin Foundation, Coinbase, Blockchain.info and Bitpay have all collaborated on this. Just remember to stay inside of the network and not out on the edges, where the wolves wait!! HODL, it will be over soon!!

[Plankowner]

Okay!! For some reason, it seems as if ignorance is the new profession!!  Any centralized, organizational structure is irrelevant. Again, I care not about the names of values. For the laymen....Right now if you spend 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you. The Bitcoin Foundation, Coinbase, Blockchain.info and Bitpay have all collaborated on this. Just remember to stay inside of the network and not out on the edges, where the wolves wait!! HODL, it will be over soon!!

You are deeply confused.

Apparently, you know more about semantics than I do...not really. While your focused on names 10% of your bitcoin is being siphoned as you make purchases. If you have Bitcoin Core QT 0.9.1 check out the display values ubtc or microbit.

[adamstgBit]

[EcuaMobi]

Okay!! For some reason, it seems as if ignorance is the new profession!!  Any centralized, organizational structure is irrelevant. Again, I care not about the names of values. For the laymen....Right now if you spend 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you. The Bitcoin Foundation, Coinbase, Blockchain.info and Bitpay have all collaborated on this. Just remember to stay inside of the network and not out on the edges, where the wolves wait!! HODL, it will be over soon!!

You are deeply confused.

Apparently, you know more about semantics than I do...not really. While your focused on names 10% of your bitcoin is being siphoned as you make purchases. If you have Bitcoin Core QT 0.9.1 check out the display values ubtc or microbit.

Don't worry. Nothing gets "siphoned". This proposal is just a name convention change.

[electerium]

Ok 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you.

This is flat out wrong and a lie.

[Plankowner]

Okay!! For some reason, it seems as if ignorance is the new profession!!  Any centralized, organizational structure is irrelevant. Again, I care not about the names of values. For the laymen....Right now if you spend 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you. The Bitcoin Foundation, Coinbase, Blockchain.info and Bitpay have all collaborated on this. Just remember to stay inside of the network and not out on the edges, where the wolves wait!! HODL, it will be over soon!!

You are deeply confused.

Apparently, you know more about semantics than I do...not really. While your focused on names 10% of your bitcoin is being siphoned as you make purchases. If you have Bitcoin Core QT 0.9.1 check out the display values ubtc or microbit.

Don't worry. Nothing gets "siphoned". This proposal is just a name convention change.

I am here to make it a point to point out wrongdoers, who's side are you on? I'm for protection of the True Bitcoin System.  

[Plankowner]

Ok 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you.

This is flat out wrong and a lie.

Please enlighten me with an intellegent rebuttal. I'm sorry buddy, I know the truth hurts. We are not going away anytime soon!!

[electerium]

Ok 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you.

This is flat out wrong and a lie.

Please enlighten me with an intellegent rebuttal. I'm sorry buddy, I know the truth hurts. We are not going away anytime soon!!

Dearest imbicile,


Read up on significant digits.

1 bitcoin= 1,000,000 bits

E.g.
585 bitcoins= 585,000,000 bits
0.585 bitcoin = 585,000 bits

You don't ever lose 10% because there is a mathematical and scientific property called significant digits.

Either you have 1,000,000 bits or you don't.

[knightcoin]

  ... 

[Ilsk]

Ok 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you.

Troll or confused?

[knightcoin]

Ok 1 bitcoin @ current USD $585.00, you are losing $58.50 USD using this (.000001 or bit) idea, If you don't understand this, then may the force be with you.

Troll or confused?

because human language is very complex, reflexive and have many figure of speech is better try to be clear as possible while write. (works for programing too, ps I am not programing language religious extremist hehehe )

[Baitty]

I don't like this kind of system I think its not needed its pretty simple to understand what 0.00001 means now. No need to bring in a new system which would just confuse existing users.