Well, as many have guessed:
"m" is for mBTC!
or mXBT!
(Project m-day doesn't pick sides on conventions, we just love the .001 bitcoin unit whatever you call it)
So what's the deal with June 2nd?
On June 2nd 2011, one mBTC exceeded the value of the lowest circulating unit in the worlds most circulating currency, the U.S. cent. That was two years ago, and we think that it's time to switch!
To that end, Project m-day is a massive publicity campaign to make sure everyone knows about the mBTC unit, thereby making it easier for merchants, exchanges, and websites to use it and default to it. Many bitcoin projects and businesses such as the reddit bitcointip bot, Seals with Clubs, the Bitcoin-Qt "standard" client, and the Electrum client have led the way by integrating support for mBTC, and we know support for mBTC use is rising every day. It really is time to start talking in 'm'!
Goals of Project m-day
Here's how we're working to make use of the mBTC unit easier:
- The 'm' List is an attempt to track businesses, websites, and software who either support or default to an mBTC unit of some kind. Post in that thread to help add the ones we've missed!
- We're producing resources explaining the mBTC unit, so that websites, businesses, and software can simply refer people with a link for easy, understandable explanations.
- We're running a community contest to produce media for "m-day". Go there now to help vote for someone to receive 1000 mBTC for their efforts, or to add your own contribution!
- We're partnering with relevant domain name owners to improve search results for terms like "millibits", "millicoins", "mBTC", and "mXBT". People need to be able to find good information on any mBTC terminology whenever they need it
- We're going to tell everyone about m-day 2013, and encourage people to use June 2nd, 2013 (the two year anniversary of surpassing the U.S. cent) as a chance to get the mBTC conversation going. People can't use mBTC if they haven't heard about them.
- Do you have a favourite website that you wish would support mBTC? Let them know about m-day and ask them if they have plans to add support for the unit soon. Most organisations will (wisely) not start using mBTC until there is sufficient demand for it amongst their users. By taking the chance to communicate in a concerted way, you can help websites gauge the importance of this issue to their users. Adding new units does take work, and they need to make sure it's worth their while.
- ____________Fill in the blank. We're open to more suggestions. If you have a great idea for making mBTC usage easier or more popular, we'd love to hear it. Chime in below, and let's get the mBTC conversation going!
As of today, 1 mBTC = 13 cents US.
