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Topic: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE - page 27. (Read 57137 times)
May 02, 2014, 10:29:35 AM
I'm more for mBTC. The value (now) is very usefull. I think it would be good if the name mBTC would be changed to something better (like for example bits )
) May 02, 2014, 10:28:06 AM
Bits obviously..
It would get rid of this annoying bitcoin is ´too expensive´ argument
It would get rid of this annoying bitcoin is ´too expensive´ argument
May 02, 2014, 10:23:16 AM
1 bit should equal 0.001 so 1000 bits is 1 bitcoin.
no, as thats known as mBTC or it has slang names lile bitmill or millibit.
a bit from the consensus of several topics now is that a bit is 100 satoshi's (0.00000100)
May 02, 2014, 10:17:01 AM
1 bit should equal 0.001 so 1000 bits is 1 bitcoin.
May 02, 2014, 05:44:36 AM
although i do believe we should skip the mBTC and uBTC and go for the satoshi/bit idea.. due to the facts of miners fee's and satoshi dust limits no one can actually just spend 1 bit right now, so it is definitely a thing for the future
May 02, 2014, 05:44:26 AM
I really like bits. For one, you can have a conversation with bits. mBTC and uBTC is awkward; mBTC is worse as it doesn't roll off the tongue well, uBTC isn't as bad. But bits is 1 syllable, rather than 4. It's also easier to type, as it's all lowercase. And you get two decimal spots, which everyone's already accustomed to. Not that we'd need them anytime soon but perhaps someday.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Totally agree with you on this one.
It seems that the few attempts so far to change to mBTC have not been that successful , let's see if we try and switch to this "bits" how will end up.
The only issue with this that I see right now is that the value of a "bit" will be that low it will create a few problems. Plus the prices will look a bit hilarious =12 612 651 bits? A bit like the Zimbabwe dollar.
And i'm sure we can get a cool symbol for it , w8
May 02, 2014, 05:36:26 AM
For me 1BTC as 1,000,000,00 bits is OK, that will make it easier for people.
We already have 1 BTC = 100 000 000 satoshi.
He meant to say "1,000,000.00", and not "1,000,000,00"
I see. It was my bad to misunderstand it
Yeah was a typo, I wanted to say 1,000,000.00
May 02, 2014, 05:33:44 AM
Why would we call it bits , i personally use mbtc as the most common unit, are you talking about the future IF bitcoin price hits $10000 or more? Because now It's fine using mbtc.
No, people are talking about fixing this before all the infrastructure is in place and it gets a lot harder to fix. Also, it is easier to understand for people who are used to only handle fiat so it will help with adoption if it is fixed now.
May 02, 2014, 05:28:45 AM
For me 1BTC as 1,000,000,00 bits is OK, that will make it easier for people.
We already have 1 BTC = 100 000 000 satoshi.
He meant to say "1,000,000.00", and not "1,000,000,00"
I see. It was my bad to misunderstand it
May 02, 2014, 05:26:33 AM
Why would we call it bits , i personally use mbtc as the most common unit, are you talking about the future IF bitcoin price hits $10000 or more? Because now It's fine using mbtc.
May 02, 2014, 05:21:55 AM
For me 1BTC as 1,000,000,00 bits is OK, that will make it easier for people.
We already have 1 BTC = 100 000 000 satoshi.
He meant to say "1,000,000.00", and not "1,000,000,00"
But yes, bits is IMHO the best way to go about it. Does anyone know what the opinions in the development community are?
May 02, 2014, 04:32:54 AM
For me 1BTC as 1,000,000,00 bits is OK, that will make it easier for people.
We already have 1 BTC = 100 000 000 satoshi.
May 02, 2014, 04:23:53 AM
For me 1BTC as 1,000,000,00 bits is OK, that will make it easier for people.
May 02, 2014, 03:00:39 AM
I really like bits. For one, you can have a conversation with bits. mBTC and uBTC is awkward; mBTC is worse as it doesn't roll off the tongue well, uBTC isn't as bad. But bits is 1 syllable, rather than 4. It's also easier to type, as it's all lowercase. And you get two decimal spots, which everyone's already accustomed to. Not that we'd need them anytime soon but perhaps someday.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Great! You are a guru artist so I would like to see your conception of such a symbol.
To represent bits (one millionth of a bitcoin), we could just use unicode character 0x0180 which produces the symbol ƀ.
This would keep all the people who like BTC happy, and make all the people who wanted to switch to Ƀ happy too.
Very good suggestion
May 02, 2014, 02:45:32 AM
I really like bits. For one, you can have a conversation with bits. mBTC and uBTC is awkward; mBTC is worse as it doesn't roll off the tongue well, uBTC isn't as bad. But bits is 1 syllable, rather than 4. It's also easier to type, as it's all lowercase. And you get two decimal spots, which everyone's already accustomed to. Not that we'd need them anytime soon but perhaps someday.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Great! You are a guru artist so I would like to see your conception of such a symbol.
To represent bits (one millionth of a bitcoin), we could just use unicode character 0x0180 which produces the symbol ƀ.
This would keep all the people who like BTC happy, and make all the people who wanted to switch to Ƀ happy too.
May 02, 2014, 02:09:55 AM
interesting idea
this will be easier for us to read the unit, some people not easy with decimal unit
even we can use newly proposed BTC symbol as bits, such as Ƀ
so 1 BTC = 1,000,000 Ƀ
but whether this will reduce the exclusive value of bitcoin?
some people think bitcoin is exclusive or rare, because 1 BTC = hundred USD
May 02, 2014, 02:00:38 AM
I really like bits. For one, you can have a conversation with bits. mBTC and uBTC is awkward; mBTC is worse as it doesn't roll off the tongue well, uBTC isn't as bad. But bits is 1 syllable, rather than 4. It's also easier to type, as it's all lowercase. And you get two decimal spots, which everyone's already accustomed to. Not that we'd need them anytime soon but perhaps someday.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Great! You are a guru artist so I would like to see your conception of such a symbol.
May 02, 2014, 01:52:59 AM
I really like bits. For one, you can have a conversation with bits. mBTC and uBTC is awkward; mBTC is worse as it doesn't roll off the tongue well, uBTC isn't as bad. But bits is 1 syllable, rather than 4. It's also easier to type, as it's all lowercase. And you get two decimal spots, which everyone's already accustomed to. Not that we'd need them anytime soon but perhaps someday.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
Perhaps we could make a lowercase bitcoin symbol to represent bits.
May 02, 2014, 01:45:59 AM
Agreed.
Bits are not perfect but are better than using bitcoin
Bits are not perfect but are better than using bitcoin
May 02, 2014, 01:44:15 AM
Agreed.
The negative psychology of owning fractions of a bitcoin is a real adoption barrier that needs addressing. It is one of the issues that dogecoin have successfully addressed.
Bit by default is the best way of dealing with scalability in the foreseeable future.
The negative psychology of owning fractions of a bitcoin is a real adoption barrier that needs addressing. It is one of the issues that dogecoin have successfully addressed.
Bit by default is the best way of dealing with scalability in the foreseeable future.
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