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Author Topic: Please stop with mBTC, microBTC, ...!  (Read 14935 times)
serje
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August 29, 2014, 07:33:58 PM
 #261

Just use BTC or satoshi (0.00000001) like in:

I just bought a car for 10 BTC!
The new Final Fantasy game will cost only 15000 satoshi!

Using mBTC, uBTC, μBTC is just unnecessary, sounds like a different coin and it will confuse a lot of people.

Coinedup and a few other sites are guilty of using mBTC.

1 satoshi is the smallest unit of BTC that's all people should have to learn. If you want massive user adoption you have to simplify things.

I support you mate!!!!!

I want only to use BTC and satoshies!
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August 29, 2014, 07:39:01 PM
 #262

BTC and satoshi's are fine.  However, I note that the metric prefixes are defined independently of any unit.  They already exist whether or not you use them.  Talking about a kilometer or a millimeter is not introducing another unit beside the meter, it's simply an abbreviation of a multiplication of that unit.  People who use mBTC and uBTC or Ksat at their convenience are not introducing new units.

I don't know if you guys have heard of this nonsense where some people want to call 100satoshis a "bit" and then give prices in "bits".  Now, talk about confusing, talk about something that sounds like a new coin.  I'm totally against this "bits" thing.  But using metric prefixes is always going to exist whether you're talking about time, money, distance, anything.
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August 30, 2014, 02:08:26 AM
 #263

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.
Unfortunately innumeracy is a huge problem. A lot of people in the US for instance think 1/4 is bigger than 1/3, (because '4' is bigger than '3'). Dollars and cents are confusing enough for them. The move to bits is a step in the direction but bitcoin still has a huge marketing challenge, that's widely acknowledged and only the really really dense would dismiss it, or can't even see or understand it. Wake up to the challenge/opportunity. Like I alluded to earlier (with the ENIAC reference), bitcoin for many people is akin to a 1st generation programming language, binary; even assembler would be a step up.

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August 30, 2014, 03:07:58 AM
 #264

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.
Unfortunately innumeracy is a huge problem. A lot of people in the US for instance think 1/4 is bigger than 1/3, (because '4' is bigger than '3'). Dollars and cents are confusing enough for them. The move to bits is a step in the direction but bitcoin still has a huge marketing challenge, that's widely acknowledged and only the really really dense would dismiss it, or can't even see or understand it. Wake up to the challenge/opportunity. Like I alluded to earlier (with the ENIAC reference), bitcoin for many people is akin to a 1st generation programming language, binary; even assembler would be a step up.



I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
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August 30, 2014, 04:38:54 AM
 #265

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.
Unfortunately innumeracy is a huge problem. A lot of people in the US for instance think 1/4 is bigger than 1/3, (because '4' is bigger than '3'). Dollars and cents are confusing enough for them. The move to bits is a step in the direction but bitcoin still has a huge marketing challenge, that's widely acknowledged and only the really really dense would dismiss it, or can't even see or understand it. Wake up to the challenge/opportunity. Like I alluded to earlier (with the ENIAC reference), bitcoin for many people is akin to a 1st generation programming language, binary; even assembler would be a step up.



I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
I agree (with your disagreement) in that adding additional ways to measure bitcoin is only going to confuse people. I think we should stick with bitcoin and allow people to use decimal places when pricing goods/services that are less then $600. When the price of bitcoin exceeds 5 digits then this conversation can be revisited. 
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August 30, 2014, 06:28:11 AM
 #266

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.
Unfortunately innumeracy is a huge problem. A lot of people in the US for instance think 1/4 is bigger than 1/3, (because '4' is bigger than '3'). Dollars and cents are confusing enough for them. The move to bits is a step in the direction but bitcoin still has a huge marketing challenge, that's widely acknowledged and only the really really dense would dismiss it, or can't even see or understand it. Wake up to the challenge/opportunity. Like I alluded to earlier (with the ENIAC reference), bitcoin for many people is akin to a 1st generation programming language, binary; even assembler would be a step up.



I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
Those issues have been addressed ad-nauseum. However I am curious what kind of people have no problem operating with an 8 decimal place currency, and yet get confused by such a simple concept as 'bits'? Is there a name for this disorder? Maybe it's related to aspergers or something? Serious question.
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August 30, 2014, 11:37:46 AM
 #267

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.
Unfortunately innumeracy is a huge problem. A lot of people in the US for instance think 1/4 is bigger than 1/3, (because '4' is bigger than '3'). Dollars and cents are confusing enough for them. The move to bits is a step in the direction but bitcoin still has a huge marketing challenge, that's widely acknowledged and only the really really dense would dismiss it, or can't even see or understand it. Wake up to the challenge/opportunity. Like I alluded to earlier (with the ENIAC reference), bitcoin for many people is akin to a 1st generation programming language, binary; even assembler would be a step up.



I see a great arbitrage opportunity to serve the people who think a 1/4 BTC is more than 1/3 BTC!

Buy 1/4 BTC, only 1/3 BTC each! Free money!



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BurtW
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August 30, 2014, 12:27:02 PM
 #268

I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
If you are confused by the simple idea of using "bits" as a shorthand for microBitcoins then you must be totally confounded by all the following terms (in order so as not to confuse you too much):  penny, cents, nickel, dime, bit, quarter, buck, a nickel bag, a dime bag, a Jackson and a Benjamin.

I am sorry if the previous sentence left you drooling on the floor in total mind numbing confusion.

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August 30, 2014, 01:25:43 PM
 #269

I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
If you are confused by the simple idea of using "bits" as a shorthand for microBitcoins then you must be totally confounded by all the following terms (in order so as not to confuse you too much):  penny, cents, nickel, dime, bit, quarter, buck, a nickel bag, a dime bag, a Jackson and a Benjamin.

I am sorry if the previous sentence left you drooling on the floor in total mind numbing confusion.

I honestly have no idea what a nickel bag , a dime bag , a Jackson or a Benjamin is...

I find it easier to use mBTC or uBTC than Bits, as those are SI units. (easier for everyone not using the Imperial system)

When discussing Bitcoin, I usually refer to amounts 0.01 BTC or more in BTC itself, everything between 0.01 mBTC (0.00001 BTC) to 10 mBTC in mBTC and anything lower in Satoshis.

This is really not an up and coming problem. For the time being, 0.01 mBTC is easy enough to say and is half a cent, so Bitcoins and milli Bitcoins are enough.
Talking in uBTC and Satoshis don't really make sense at the present time to me. I can understand how much they are, but 1 uBTC is lesser than a thousandth of cent, too less to need to use currently.


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August 30, 2014, 02:42:58 PM
 #270

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.

I think you are really disconnected from the real world and doesn't have a clue about how the average person thinks.

See this simple example:

A&W introduced a burger that was bigger and less expensive than McDonald's Quarter Pounder, but it failed because customers assumed 1/3 was less than 1/4.
http://factually.gizmodo.com/whats-bigger-1-3-pound-burgers-or-1-4-pound-burgers-1611118517



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August 30, 2014, 08:24:28 PM
 #271

I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
If you are confused by the simple idea of using "bits" as a shorthand for microBitcoins then you must be totally confounded by all the following terms (in order so as not to confuse you too much):  penny, cents, nickel, dime, bit, quarter, buck, a nickel bag, a dime bag, a Jackson and a Benjamin.

I am sorry if the previous sentence left you drooling on the floor in total mind numbing confusion.
The thing about, pennies, nickels, dimes, and quarters is that these are actual coins that have actual value. People do not look at 5 pennies and think of it as a nickel, they look at 5 pennies and think of it as 5 cents.
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September 01, 2014, 05:54:29 AM
 #272

I prefer bits.

1BTC = 1 million bits
1 bit = 100 satoshi

6 places to the right of the decimal is bits
8 places to the right of the decimal is satoshi

0.00005000 = 50 bits or 5000 satoshi


Seems easy enough to me

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September 01, 2014, 04:20:31 PM
 #273

BTC and satoshi's are fine.  However, I note that the metric prefixes are defined independently of any unit.  They already exist whether or not you use them.  Talking about a kilometer or a millimeter is not introducing another unit beside the meter, it's simply an abbreviation of a multiplication of that unit.  People who use mBTC and uBTC or Ksat at their convenience are not introducing new units.

I don't know if you guys have heard of this nonsense where some people want to call 100satoshis a "bit" and then give prices in "bits".  Now, talk about confusing, talk about something that sounds like a new coin.  I'm totally against this "bits" thing.  But using metric prefixes is always going to exist whether you're talking about time, money, distance, anything.


exactly what i have been saying over and over again, sadly though, due to all the retards pushing for the use of bits, it seems many services are using 'bits' to mean µBTC, which is in my opinion completely ridiculous and backwards. If anything, it only makes things more confusing.

There are international standards for a reason.
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September 01, 2014, 04:26:02 PM
 #274

I couldn't disagree more about the "bits" thing.  How does introducing another named unit at an arbitrary decimal point make things simpler or easier?  Especially with a name like "bits" which can refer to a bunch of confusingly related topics: data storage, information, cryptography.
If you are confused by the simple idea of using "bits" as a shorthand for microBitcoins then you must be totally confounded by all the following terms (in order so as not to confuse you too much):  penny, cents, nickel, dime, bit, quarter, buck, a nickel bag, a dime bag, a Jackson and a Benjamin.

I am sorry if the previous sentence left you drooling on the floor in total mind numbing confusion.

using 'bits' as an abbreviation for microbitcoin is like using meter as an abbreviation for micrometer.

it just doesn't make sense, and for that reason the abbreviation for micrometer is micron.

just like the abbreviation for dollarcent is cent, and not dollar.

A bit is an abbreviation for bitcoin, if any. And a microbitcoin can be abbreviated or nicknamed to a lot of things, as long as it's not bit. Microbitcoin or microbit work fine in my opinion, since at least the meaning is clear the moment you hear it.

also: https://www.youtube.com/watch?v=r7x-RGfd0Yk

We need to find new ways, its not very marketeable as it is right now  Cry

I think your post is so vague it's hard to reply to.

The best I can say is that I think the people who find mBTC or uBTC to be a problem are really, really dense.  You simply can't stop the reality of the decimal system and most folks with more than 1 or 2 years of primary school understand how a number subdivides into parts of 10 as represented by a decimal point.

I think you are really disconnected from the real world and doesn't have a clue about how the average person thinks.

See this simple example:

A&W introduced a burger that was bigger and less expensive than McDonald's Quarter Pounder, but it failed because customers assumed 1/3 was less than 1/4.
http://factually.gizmodo.com/whats-bigger-1-3-pound-burgers-or-1-4-pound-burgers-1611118517






no offense, but it wouldn't have failed in any country using the metric system,

in other words, it would have worked in any country except the US of retarded A
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September 01, 2014, 06:13:00 PM
 #275

Rightly so. It needs to stop, its too confusing. We need Something.
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September 01, 2014, 06:41:05 PM
 #276

For those that do not know the entire "bits" proposal, which I personally like because it solves three issues in one proposal is:

Quote
1 satoshi = smallest unit, pretty much in general use today
1 bit       = 100 satoshi, eventually every day use, coffee, sandwiches, etc.
1 XBT     = 1 bit, should be the official symbol on all exchanges, forex, etc.
1 BTC     = 1000000 bits = kept for dealing with larger amounts, may fade

1 Bitcoin/bitcoin as a currency unit fades away

Bitcoin = the Bitcoin protocol

Notice that 1 microBitcoin = 100 satoshi = 1 bit = 1 XBT

When adopted we can all look forward to the day when a shave and a haircut will, once again, cost two bits.

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September 01, 2014, 08:45:00 PM
 #277

For those that do not know the entire "bits" proposal, which I personally like because it solves three issues in one proposal is:

Quote
1 satoshi = smallest unit, pretty much in general use today
1 bit       = 100 satoshi, eventually every day use, coffee, sandwiches, etc.
1 XBT     = 1 bit, should be the official symbol on all exchanges, forex, etc.
1 BTC     = 1000000 bits = kept for dealing with larger amounts, may fade

1 Bitcoin/bitcoin as a currency unit fades away

Bitcoin = the Bitcoin protocol

Notice that 1 microBitcoin = 100 satoshi = 1 bit = 1 XBT

When adopted we can all look forward to the day when a shave and a haircut will, once again, cost two bits.
I think we are a very long way away from bitcoin reaching these levels. I think we should stick to BTC until bitcoin reaches a price so that mBTC and/or uBTC would be a more appropriate way to price something worth ~$100

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September 02, 2014, 01:18:14 AM
 #278

I think we are a very long way away from bitcoin reaching these levels. I think we should stick to BTC until bitcoin reaches a price so that mBTC and/or uBTC would be a more appropriate way to price something worth ~$100

When we reach 1 BTC = $1000, we can start using mBTC for normal purchases. It would effectively replace the dollar.


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September 02, 2014, 03:30:06 AM
 #279

I think you are really disconnected from the real world and doesn't have a clue about how the average person thinks.

See this simple example:

A&W introduced a burger that was bigger and less expensive than McDonald's Quarter Pounder, but it failed because customers assumed 1/3 was less than 1/4.
http://factually.gizmodo.com/whats-bigger-1-3-pound-burgers-or-1-4-pound-burgers-1611118517


Yea that is just how it is.  You cant expect people to think, people dont go for a burger to do maths.    I know its so silly people would rank 3 below the 4 but thats the general standard of education now, I would guess most people know the right answer but not when they are not even thinking.

The whole 99,999.99 sales tags are also stupid but they work!     Could get a long list of stupid advertising tricks that should not work but they make alot of money combined for those that know how to use them.      Anything BTC does has to be paint by numbers simple in its implementation and just maybe it'll take off properly one day.   The whole hash code thing we got now should be relegated to the background mechanics, just like most people likely do not know their own registration plate on a car




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September 02, 2014, 04:21:22 AM
 #280


Two years ago it would have been irrelevant to even think about mBtc or uBtc
Right now 0.001 BTC is worth about $0.50, i don't mind calling it 1mBTC, it makes sense today but it might be obsolete in a couple of years from now so why bother today ?

maybe switching to mbtc now would reassure people that want to get into bitcoin thinking they have to buy a whole BTC, not sure its the good way to go though.

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