how long till 1mBTC = 1USD? - page 2.

Tirapon

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Quote from: teukon on April 28, 2013, 01:00:35 PM

1 mBTC = 1 milibitcoin = .0001 bitcoins

Note there are three 0s, the metric system goes in threes. I can't believe how dumb most people are at this!

I really hope you were just trolling...

Geist

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Quote from: Ivanhoe on April 28, 2013, 10:09:14 AM

Quote from: Geist on April 28, 2013, 10:07:23 AM

Quote from: samson on April 28, 2013, 09:59:44 AM

Clearly this terminology won't work.

People who use the metric system don't have any problems. 1 millimeter = .001 meters.

Apparently you have problems with the metric system then, according to your earlier post in this topic. Wink

Quote from: jbord39 on April 28, 2013, 10:22:08 AM

Quote

It's 1 thousandth of a bitcoin or .0001 bitcoins.

You're right it is 1 thousandth however .0001 is not 1 thousandth but 1 ten-thousandth.

It was a typo. Fixed it.

jbord39

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Quote from: teukon on April 28, 2013, 01:00:35 PM

1 mBTC = 1 milibitcoin = .0001 bitcoins

Note there are three 0s, the metric system goes in threes. I can't believe how dumb most people are at this!

Put 1/1000 in a calculator and see how dumb you are. But as an engineer I can guarantee you that it is not .0001. Hint: it is .001.

teukon

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I think we will reach 1 mBTC = 1 USD and that we'll reach it for the first time in 2015. I expect we'll be trading at between 50 and 80 USD/BTC at the end of the year. This is all based on a long-term, support line I perceive in long-term log("market cap") charts such as:
https://blockchain.info/charts/market-cap?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=1&address=

Sorry for the earlier troll post: I saw fun and wanted to partake.

Incidentally, I consider 1 BTC = sqrt(1000) USD = 31.6 USD (3.s.f) to be the mid-point between BTC-USD parity and mBTC-USD parity.

These days I give all my prices in mBTC (giving the BTC equivalent in parentheses for those unfamiliar with the notation).

Odalv

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Quote from: w00t on April 28, 2013, 01:45:23 PM

Anyway I think we will come to the equation of 1 USD = 1mBTC (ie. 1/1000 of BTC) no later than 22nd August 2023. We might get there sooner but the longterm wall I guess is set for 22nd August.

I have only 3 bets.
a) less than 2 months (30%)
b) less than 2 years (69,999999999999999999999999999999999999999999%)
c) never (0,0000000000000000000000000000000000000000000000001)

w00t

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Quote from: Odalv on April 28, 2013, 01:05:07 PM

Quote from: teukon on April 28, 2013, 01:00:35 PM

1 mBTC = 1 milibitcoin = .0001 bitcoins

Note there are three 0s, the metric system goes in threes. I can't believe how dumb most people are at this!

1 mBTC is about $0.13 now. I'll change to mBTC when were half way, when ($1000 - $1)/2 = $499.

mili = 1/1000 => 0.001

1l = 1000 ml -> 1 ml = 0.001 l
1m = 1000 mm -> 1 mm = 0.001 m
1 BTC = 1000 mBTC -> 1 mBTC = 0.001 BTC

finally something sane

Anyway I think we will come to the equation of 1 USD = 1mBTC (ie. 1/1000 of BTC) no later than 22nd August 2023. We might get there sooner but the longterm wall I guess is set for 22nd August.

mgio

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Gosh, you should have just asked "how long till 1 bitcoin is $1000" then we could avoided half the posts in this thread, lol.

||bit

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Quote from: btceic on April 28, 2013, 09:55:30 AM

Agreed, is it 1 Million or 1 Millionth of a BTC?

My guess? it is 1 millionth, i.e. 0.0000001

The m is "milli", which means 1 thousandths. In decimal notation: .001 BTC

1 millionth of a BTC would be written as 1 uBTC. [where u = "micro"; a millionth]

These could be used as well, just don't expect people to know what you mean:

.1 BTC = 1 dBTC [d = 'deci'; a tenth]
.01 BTC = 1 cBTC [c = 'centi'; a hundredth]
...
.000000001 BTC = 1 nBTC [n = 'nano'; a billionth]
.000000000001 BTC = 1 pBTC [p = 'pico'; a trillionth]
.000000000000001 BTC = 1 fBTC [f = 'femto'; a quadrillionth]
.000000000000000001 BTC = 1 aBTC [a = 'atto'; a quintillionth]
.000000000000000000001 BTC = 1 zBTC [z = 'zepto'; a sextillionth]
.000000000000000000000001 BTC = 1 yBTC [y = 'yocto'; a septillionth]

Odalv

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Quote from: teukon on April 28, 2013, 01:00:35 PM

1 mBTC = 1 milibitcoin = .0001 bitcoins

Note there are three 0s, the metric system goes in threes. I can't believe how dumb most people are at this!

1 mBTC is about $0.13 now. I'll change to mBTC when were half way, when ($1000 - $1)/2 = $499.

mili = 1/1000 => 0.001

1l = 1000 ml -> 1 ml = 0.001 l
1m = 1000 mm -> 1 mm = 0.001 m
1 BTC = 1000 mBTC -> 1 mBTC = 0.001 BTC

teukon

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1 mBTC = 1 milibitcoin = .0001 bitcoins

Note there are three 0s, the metric system goes in threes. I can't believe how dumb most people are at this!

1 mBTC is about $0.13 now. I'll change to mBTC when were half way, when ($1000 - $1)/2 = $499.

andicatorx

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1 milliBTC = 0.001BTC?
Not so long I guess, since 1BTC is over $100 now.

BitSmile

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Quote from: Missionary on April 28, 2013, 10:53:57 AM

Maybe we should split the bitcoins in inches or feet? Hardly anyone in the world is using the metric system, right...?

/sarcasm

1m1nd

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Tomorrow!!

Missionary

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Maybe we should split the bitcoins in inches or feet? Hardly anyone in the world is using the metric system, right...?

Tirapon

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Quote from: samson on April 28, 2013, 10:25:35 AM

So there's a lot of confusion amongst the current Bitcoin enthusiasts.

Just a lot of people who need to brush up on their maths

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: samson on April 28, 2013, 10:25:35 AM

So there's a lot of confusion amongst the current Bitcoin enthusiasts.

Some peeps just have issues with fractions and floating points.

Repeat after me: point double zero one, point triple zero one, point quadruple zero one...

mBTC and then µBTC and satoshi are surely the future - assuming bitcoin does not fail.

samson

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So there's a lot of confusion amongst the current Bitcoin enthusiasts.

jbord39

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I busted out laughing reading this thread.

Quote from: btceic on April 28, 2013, 09:55:30 AM

Agreed, is it 1 Million or 1 Millionth of a BTC?

My guess? it is 1 millionth, i.e. 0.0000001

1 million bitcoins is MBTC and 1 millionth is uBTC. Also .0000001 is not either and is actually one ten-millionth of a BTC.

Quote

It's 1 thousandth of a bitcoin or .0001 bitcoins.

You're right it is 1 thousandth however .0001 is not 1 thousandth but 1 ten-thousandth.

nobbynobbynoob

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Annuit cœptis humanae libertas

Not only is mBTC (or BTM if ya must) workable, I think it's essential to adoption. Noobs could be put off by the "prohibitive expense" of "$1000 coins", but $1/mBTC doesn't look so insurmountable.

Above $250/BTC I shall (once again!) set Bitcoin-Qt to default to mBTC display/operation, and I think this needs to be more widely encouraged, possibly including at the major bitcoin exchange sites.

Ivanhoe

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Quote from: Geist on April 28, 2013, 10:07:23 AM

Quote from: samson on April 28, 2013, 09:59:44 AM

Clearly this terminology won't work.

People who use the metric system don't have any problems. 1 millimeter = .001 meters.

Apparently you have problems with the metric system then, according to your earlier post in this topic. Wink

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