Topic: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE - page 26. (Read 57137 times)

I like the bits idea for sure.

/thread

Lets have Bits, it is the way forward

Why not go all the way down to satoshis?

No it won't.  Silly polls like this have come and gone for years.  Nothing happens, ever.

I think it'd be better if it was 1,000 bits=1 bitcoin and bits sound better than millibiit..Much easier and serious than 1million.....

Anyone who doesn't know about bitcoin and sees 1,000,000 bits would think it's a joke and some sort of monopoly play money...Seriously 1,000 is the best..not 1million, that's gonna destroy bitcoin.

I for one AGREE with "bit" to be used.

Then, 7000 bits for a coffee will be very expensive to "look at" and "bits" will increase in value.
I am not saying this is meaningful thing, but such strange are people.


But this is only my two centsbits.

Microbitcoins are best.

Vote on this:

How many threads do we need on exactly this topic?

1,000 ?  (one kilothread)
10,000 ? (ten kilothreads)
100,000 ?  (one hundred kilothreads OR 0.1 megathread)
1,000,000 ?  (one megathread)

From Wikipedia:

xbit

Because the sourceforge mailing list archive seems broken:

https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04918.html

My dollar is called the loonie and $2 coin the toonie.. money can be named stupied things and people will accept it.

Well, people are already using "Satoshi" (when I - guilty secret time! - trawl the faucets, it's "Satoshi" that's used by the faucets and - presumably - by the "fauceteers").

Which brings me to... I have no idea - none of us have much of an idea - how other people are using Bitcoin. It seems to me bizarre to assume that how I use Bitcoin is necessarily equivalent to how other people use it. I trawl the faucets, and "Satoshi" is a useful concept. I buy BTC, and BTC is a useful concept. I make purchases with BTC, and mBTC is a useful concept. I imagine there are wealthy BTC-holders who would find mBTC, µBTC and Satoshis irrelevant. Likewise, for someone who only ever works with Satoshis any xBTC is largely irrelevant.

How merchants, exchanges etc price BTC is entirely up to them. They know their user-base far better than us. If an exchange, say, believes that some users have psychological barriers in buying "less" than a whole BTC then that exchange can - already - choose to price BTC in mBTC or µBTC (or even Satoshis - as the faucets already choose to do). But other exchanges should have the freedom to make their own decisions, decisions that reflect the needs of their own user-bases.

Right now there's a belief that mBTC is preferable to BTC. But we have no idea what price (strictly speaking, prices) BTC will be at in a few years. It could well be that the psychological barriers people currently believe exist will change or reform (we could well be arguing that mBTC is a barrier because - at USD450 per mBTC - people are deterred from purchasing part of a mBTC. Or we might find that - with 1 mBTC at USD0.01 it's all too confusing...)

tl;dr - we already have a wealth of options. Why would I want to limit someone else's options?

PS.  spazzdla, MegaHustlr - apologies for hijacking your discussion! I saw the word "Satoshi" and jumped too quick

I wish I could take credit for that mock-up. I can't remember who made it but it was someone on reddit.

So would the use of bits....  mbtc has already won IMO most people know what milibtc means, like computer challanged people.

It is wayyy too soon to be using satoshis at the price of $440 a bitcoin.

NOOOOOOOOOOOOOOOOOOOOOPE,  satoshies that is what we will use.

by the time mBTC becomes commonly used, it will become obsolete and people will then have to go through the process of changing it again. basically double annoyance.

much easier to go for a scale that wont need to be changed, then one that needs to be changed often

That would only lead to more confusion in the future as the bit name has to be changed again and again...

Better just go super low from the get go. Also, it would give bitcoin the dogecoin ´millionaire´ effect making people use bitcoin more often.