Please stop with mBTC, microBTC, ...!

[SirChiko]

So may anyone explain me...1mBTC= 0.01 btc or 0.001 btc?

0.001 (1/1000th, milli = 1000)

but hey: 1 satoshi = 0.01 bits and 1 million bits is a bitcoin. All you need to know ;-)

Thank you, i will remember it by that mili=1000 it just got me confused as there is also microBTC in name of the topic.

[dyask]

I would also agree that the complexity of the wallets and security issues are major issues and the issues that affect me personally the most...but there is no point in building the perfect system if it entails use math that is too difficult for the average person to navigate effectively...and thats why I think the nomenclature is so important...not for you, not for me, but for the average IQ person and below average IQ person...because those people make up the largest portion of the world's populations and bitcoin can't succeed without them...and they need an easy name, with few to no zeros....

That is the point, the math is very easy for most of the world.  The metric system and the prefixes used are very easy.   The USA is literally the backwater of the world in that regard.   Americans just need to buckle down and learn some simple concepts.   You can't help the people that won't help themselves, so don't worry about them.   They will wake up someday and join the rest of the world.   These people aren't the drivers that will cause bitcoin to secede.   They are the followers who will adapt to it when they don't have a choice anymore.  

  

  

[dyask]

So may anyone explain me...1mBTC= 0.01 btc or 0.001 btc?

0.001 (1/1000th, milli = 1000)

but hey: 1 satoshi = 0.01 bits and 1 million bits is a bitcoin. All you need to know ;-)

Thank you, i will remember it by that mili=1000 it just got me confused as there is also microBTC in name of the topic.

m - milli = 1/1000
u - micro = 1/1,000,000  (one millionth)

These are standard SI terms.  http://en.wikipedia.org/wiki/SI

[SirChiko]

So may anyone explain me...1mBTC= 0.01 btc or 0.001 btc?

0.001 (1/1000th, milli = 1000)

but hey: 1 satoshi = 0.01 bits and 1 million bits is a bitcoin. All you need to know ;-)

Thank you, i will remember it by that mili=1000 it just got me confused as there is also microBTC in name of the topic.

m - milli = 1/1000
u - micro = 1/1,000,000  (one millionth)

These are standard SI terms.  http://en.wikipedia.org/wiki/SI

I know, i'm just pointing on that by topic name it seems that mBTC is meant to be microBTC but in reality it's mBTC and uBTC and it just got me confused.   

[AliceWonder]

Ugh.

I think I'm going bald.

bit is already used in many money systems, e.g. in the US it was an eigth of a dollar. I believe because of Spanish coins.
It's also currently an 8th of a byte but that's coincidence, not because bit means eigth.

Calling a mBTC or anything else a "bit" is moronic and only serves to cause confusion. We have SI units and everyone, even us dumb 'mericans that use a measure of force to define mass, know what SI units are.

It is simply retarded to take an SI unit and call it something else.

-=-

As far as only using BTC and Satoshi - let me give some examples:

Teaspoon Tablespoon Cup Quart Gallon
Ounce Pound Ton
Inch Foot Yard Mile

It is not confusing to have more than one unit of measure.

The Metric system makes the math easier, and applies across all types of measurement.

There is nothing confusing about micro BTC, milli BTC, BTC, kilo BTC, mega BTC.

Someone who has never heard of bitcoin can see those and know how they relate to each other. Even us dumb backwards Americans that refuse to see the benefits of single payer health care, the metric system, and reduction of carbon-based energy.

Alice Out.

[pepto]

Leave BTC alone.  It's already simple.  .001BTC today is .629 dollars or 62.9 cents.
A change in divisor is an endeavor to make it palatable to hoards who like and can deal in multiples and
and shun percentages. But who would ever use BTC without finding out first what it's worth?
The day BTC price becomes so stable that we don't need to think about that is a day
I don't look forward to.

[InwardContour]

Leave BTC alone.  It's already simple.  .001BTC today is .629 dollars or 62.9 cents.
A change in divisor is an endeavor to make it palatable to hoards who like and can deal in multiples and
and shun percentages. But who would ever use BTC without finding out first what it's worth?
The day BTC price becomes so stable that we don't need to think about that is a day
I don't look forward to.

This is very well said. If you change the way that bitcoin is written then it will only confuse people that are just getting started in using bitcoin as they will have to figure out multiple ways of how much things cost.

[dyask]

Leave BTC alone.  It's already simple.  .001BTC today is .629 dollars or 62.9 cents.

1 mBTC = .001 BTC
Same thing, standard SI units.   BTC is still BTC, so I agree just use BTC

So BTC is fine
     Satoshi is fine as 100 MSatoshi = 1 BTC
     mBTC is fine as .001 BTC = 1 mBTC = 100,000 Satoshi
     uBTC is fine as .000001 BTC = 1 uBTC  = 100 Satoshi

A SI prefix doesn't change the unit, just the amount of zeros that has to be written. 

[dyask]

bit is already used in many money systems, e.g. in the US it was an eigth of a dollar. I believe because of Spanish coins.
It's also currently an 8th of a byte but that's coincidence, not because bit means eigth.

Good points!

In computer terms a bit is the smallest unit in binary storage.  A bit only has the value 0 or 1, or "False" and "True", it is binary.   Now if Quantum computing ever works a bit may end up having another meaning but that is in the future still.   I agree, using BITS is just lame and confusing. 

For what it is worth, when I started trading, stock prices were still trading in eights of a US dollar.   That was painful.   Good riddance to the ancient Spanish system.

[zimmah]

So may anyone explain me...1mBTC= 0.01 btc or 0.001 btc?

0.001 (1/1000th, milli = 1000)

but hey: 1 satoshi = 0.01 bits and 1 million bits is a bitcoin. All you need to know ;-)

Thank you, i will remember it by that mili=1000 it just got me confused as there is also microBTC in name of the topic.

m - milli = 1/1000
u - micro = 1/1,000,000  (one millionth)

These are standard SI terms.  http://en.wikipedia.org/wiki/SI

I know, i'm just pointing on that by topic name it seems that mBTC is meant to be microBTC but in reality it's mBTC and uBTC and it just got me confused.   

i'm not sure what confuses you. Along with the full prefixes (milli, micro, kilo, etc) each prefix also has a unique 'one-letter' prefix, m for milli (always lower case, because upper case would be Mega) and µ (mu, u can substitude) for micro. Using mBTC or mXBT is perfectly normal. Just like on food they often use kg, mg and µg for weights. (kilogram, milligram and microgram respectively).

[Stn]

SI system is not bad at all. But there is a problem. In everyday life we never used to convert one units to another. Room we measure in meters, dress in centimeters. Whatever better match. Nobody thinks how many centimeters in the room. All visible and tangible.

With Bitcoin it is different. It is virtual and not clear what ruler better to use. Yes we all in school leaned decimal prefixes. But counting in the head, making mistakes may be costly.

Agree with thesis above that when will be time when new term appear (if satoshi not take over). For example currently my clients buy not less then 0.00X BTC. Don't see any reason for higher division.

[dyask]

SI system is not bad at all. But there is a problem. In everyday life we never used to convert one units to another. Room we measure in meters, dress in centimeters. Whatever better match. Nobody thinks how many centimeters in the room. All visible and tangible.

You gave one example but there are many that don't follow that pattern.   Sign say 200m or 500m to some location and we also use kilometers.  (At least in Japan.)   We buy food by grams or kilograms and liquids by liters or milliliters.  It is simple to convert.   Centimeters is one of the oddball measurements, but even it is a conversion.   Centi means to divide by 100.   So when even you use Centimeters you are really converting, it is just so simple you don't think about it.

[Baitty]

I always get confused with mBTC. I can keep up with satoshis but get real lost when someone mentions mBTC and uBTC.

[dyask]

I always get confused with mBTC. I can keep up with satoshis but get real lost when someone mentions mBTC and uBTC.

Not a good thing to advertise on an international forum.   

Seriously, take 5 minutes and learn to how to divide and multiple by 1000.   

[zimmah]

I always get confused with mBTC. I can keep up with satoshis but get real lost when someone mentions mBTC and uBTC.

http://www.youtube.com/watch?v=R2dZZxfAYsg

do you need a video on how to breathe, or a video on how to watch a video as well?

this is kindergarten material, really.

[101111]

1 bitcoin = 1,000,000 bits

It's a clear and obvious choice, and that's why it's being adopted by some of the larger players.

I've yet to see an argument against it that doesn't inadvertently argue for it.

[dyask]

1 bitcoin = 1,000,000 bits

It's a clear and obvious choice, and that's why it's being adopted by some of the larger players.

I've yet to see an argument against it that doesn't inadvertently argue for it.

It is nonsense, but that doesn't mean it won't be used.   "bits" doesn't imply 1000000 and if you saw it without a key you couldn't figure it out.

1 BTC = 1,000,000 uBTC

That is clear and obvious to most people in the world.  Many will use the metric system but it is so simple to use.

[medUSA]

Can't believe this debate is still going on 

This kind of discussions pops up every few months and there has never been any sort of resolution. I have seen a prized contest, a few votes, and it is ALWAYS split between standard SI units and "bit". I honestly don't have a problem having them both. Standard SI units for contracts and "official" use and "bit" for day to day use, like we call 1 pound (GBP) a "quid".

[dyask]

Can't believe this debate is still going on 

This kind of discussions pops up every few months and there has never been any sort of resolution. I have seen a prized contest, a few votes, and it is ALWAYS split between standard SI units and "bit". I honestly don't have a problem having them both. Standard SI units for contracts and "official" use and "bit" for day to day use, like we call 1 pound (GBP) a "quid".

Aren't you supposed to be using Euros?

[zahra4571]

This remind me on school days with conversion units, there is a lot of them with different calculations.
Or for example you can write it like this 2*10^-1 BTC  =   0.2 BTC