Topic: How much is a mBTC equal to? (Read 163376 times)
do you really need to open a thread to make math?
mBTC=millibitcoin=1 thousandth of a bitcoin=0.001BTC=0.00552 USD
uBTC=microbitcoin=1 millionth of a bitcoin=0.000001BTC=0.0000000552 USD
uBTC=microbitcoin=1 millionth of a bitcoin=0.000001BTC=0.0000000552 USD
This link will help you guys with converting your mbtcs to btc and other BTCs to othercurrencies...
https://youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/
https://youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/
mBTC=millibitcoin=1 thousandth of a bitcoin=0.001BTC=0.00552 USD
uBTC=microbitcoin=1 millionth of a bitcoin=0.000001BTC=0.0000000552 USD
uBTC=microbitcoin=1 millionth of a bitcoin=0.000001BTC=0.0000000552 USD
with a little asterisk on that. "0.00552 USD, at the current BTC/USD exchange rate of $5.52."
Ha! You ain't kiddin', brotha.... you should see what the price is here in the future.
PRO TIP: Buy up NOW.
Hmm we need those measurments to be official so we can have it the same for sure.
are you kidding me?
the metric system has been official for hundreds of years.
https://en.wikipedia.org/wiki/Metric_prefix
hahah yes, in fact there are tens of sites who are currently using it now, like http://bitcoinity.org/markets , many gamlbing sites and the bitcoin wallet for android
Hmm we need those measurments to be official so we can have it the same for sure.
are you kidding me?
the metric system has been official for hundreds of years.
https://en.wikipedia.org/wiki/Metric_prefix
Hmm we need those measurments to be official so we can have it the same for sure.
its confusing for me, can't push myself to use mBTC or understand it
thank god its not needed yet
thank god its not needed yet
I dont think so, just understand that is one unit of 1000, and that each one costs 1/1000 it means 0.65 usd , by that way is more comfortable than using one point followed by many ceros amounts.
Current bitcoin price is about $630, and $1 is about 0.0016 btc.
So, other than faucet payments, we probably will seldom see the situation of "one point followed by many zeros amounts."
its confusing for me, can't push myself to use mBTC or understand it
thank god its not needed yet
thank god its not needed yet
I dont think so, just understand that is one unit of 1000, and that each one costs 1/1000 it means 0.65 usd , by that way is more comfortable than using one point followed by many ceros amounts.
its confusing for me, can't push myself to use mBTC or understand it
thank god its not needed yet
thank god its not needed yet
Yeah it's a way more comfy to use decimals: 0. 0000 0000
its confusing for me, can't push myself to use mBTC or understand it
thank god its not needed yet
thank god its not needed yet
But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
That is interesting.
I personally don't see that psychological effect, but do other people really feel happier receiving 1 mbtc than 0.01 btc?
That's the argument I've heard, anyway. Apparently, prospective buyers are like little babies -- break a cookie up into several pieces, and they think it's more than one cookie....
I'd prefer 0.01 btc (as it's 10 mBTC)
Also I am fairly sure people prefer owning a 'whole' unit of something. I often hear the argument, "I'd like to buy bitcoin but I can't afford it". Which is totally flawed logic, but the feel too good to buy a fraction of a bitcoin. Because what use is a small fraction of a bitcoin?
Also I am fairly sure people prefer owning a 'whole' unit of something. I often hear the argument, "I'd like to buy bitcoin but I can't afford it". Which is totally flawed logic, but the feel too good to buy a fraction of a bitcoin. Because what use is a small fraction of a bitcoin?
Ouch, my bad, it should be 0.001 instead. I have fixed it now.
I see, thanks CEG5952 and zimmah for your cookie example and explanations.
OP is right -- too confusing. Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap.
BTC is a unit.....
Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap. BTC is a unit.....
If you screw the metric system have fun without measuring in kilometers, kilograms, centimeters, Celsius, ampere, volts, ohms, watts, joule, newton, pascal, kelvin, gigahertz, terabytes, and what not.
Have fun with your feet, bananas, inches, spider legs and whatever tools you have laying around there caveman.
You're missing the point. Apparently it went way over your head. I have no problem with the metric system.
BTC is already a unit. What legitimate reason is there to peg it to fiat value -- seemingly the only justification for perpetually changing its unit? Every few years, we gonna change the unit? How many different wallet standards will there be, and how many people are going to send irreversible payments in the wrong order of magnitude?
The dollar is perpetually being devalued -- the inverse of BTC. Do we constantly change the dollar's accepted unit, as it loses value? No; it is a standard that people are used to and understand. Same goes for BTC.
However meters or kilometers would be quite useless if you are measuring your windows in order to place new frames. You'll need more precision so you divide by 1000 to get millimeters. (Or centimeters, but millimeters is usualy prefered in this case)
[...]
Need to buy a yacht? A couple of bitcoin will do
Need to buy a car? Millibitcoin will be enough
Need to buy a bread? Microbitcoin will be the best choice
[...]
Would you rather have millimeters and centimeters than having inches, yards and miles? Don't let bitcoin fall to the imperial system with all their weird 'bits' or we might as well introduce the banana scale.
Believe me, I do not advocate for "bits"....
Perhaps my perspective is off, being an early adopter. I've watched BTC from < $1 to > $1000. And it will always be BTC to me. I view my wallet balances in coins, not millicoins.
One issue, as I mentioned, is that I see a potential problem with standardization when BTC's value could very well rise significantly over relatively short periods of time (years). If the prefix is constantly changing, I could see a lot of potential confusion -- not to mention I have no idea how consensus would be reached among BTC users and vendors. And I foresee lots of people sending irreversible payments to the wrong order of magnitude. Sure, dollars break down to cents. Do I view $1.50 as 150 cents? $100.50 as 10,050 cents? Hell no. Same goes for BTC. When gold went from < $300 to > $1900, did we consider switching to mXAU? But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
You don't need to change anything, you just use the prefix that keeps the price between 1 and 1000 regardless of how much a bitcoin is worth.
It's the same with hard disks. They never really sell a hard disk with 5000 GB, but instead they sell hard disks of 5 TB but they don't sell 0.5 TB. It's all about convenient numbers.
Just like you wouldn't pay for a car with pennies, nor would you buy a bread and pay with $100
It's still the same bitcoin, but you just shift the comma a few spaces so you get an easy to understand number.
But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
That is interesting.
I personally don't see that psychological effect, but do other people really feel happier receiving 1 mbtc than 0.01 btc?
I'd prefer 0.01 btc (as it's 10 mBTC)
Also I am fairly sure people prefer owning a 'whole' unit of something. I often hear the argument, "I'd like to buy bitcoin but I can't afford it". Which is totally flawed logic, but the feel too good to buy a fraction of a bitcoin. Because what use is a small fraction of a bitcoin?
But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
That is interesting.
I personally don't see that psychological effect, but do other people really feel happier receiving 1 mbtc than 0.01 btc?
That's the argument I've heard, anyway. Apparently, prospective buyers are like little babies -- break a cookie up into several pieces, and they think it's more than one cookie....
But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
That is interesting.
I personally don't see that psychological effect, but do other people really feel happier receiving 1 mbtc than 0.001 btc?
Fixed.
OP is right -- too confusing. Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap.
BTC is a unit.....
Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap. BTC is a unit.....
If you screw the metric system have fun without measuring in kilometers, kilograms, centimeters, Celsius, ampere, volts, ohms, watts, joule, newton, pascal, kelvin, gigahertz, terabytes, and what not.
Have fun with your feet, bananas, inches, spider legs and whatever tools you have laying around there caveman.
You're missing the point. Apparently it went way over your head. I have no problem with the metric system.
BTC is already a unit. What legitimate reason is there to peg it to fiat value -- seemingly the only justification for perpetually changing its unit? Every few years, we gonna change the unit? How many different wallet standards will there be, and how many people are going to send irreversible payments in the wrong order of magnitude?
The dollar is perpetually being devalued -- the inverse of BTC. Do we constantly change the dollar's accepted unit, as it loses value? No; it is a standard that people are used to and understand. Same goes for BTC.
However meters or kilometers would be quite useless if you are measuring your windows in order to place new frames. You'll need more precision so you divide by 1000 to get millimeters. (Or centimeters, but millimeters is usualy prefered in this case)
[...]
Need to buy a yacht? A couple of bitcoin will do
Need to buy a car? Millibitcoin will be enough
Need to buy a bread? Microbitcoin will be the best choice
[...]
Would you rather have millimeters and centimeters than having inches, yards and miles? Don't let bitcoin fall to the imperial system with all their weird 'bits' or we might as well introduce the banana scale.
Believe me, I do not advocate for "bits"....
Perhaps my perspective is off, being an early adopter. I've watched BTC from < $1 to > $1000. And it will always be BTC to me. I view my wallet balances in coins, not millicoins.
One issue, as I mentioned, is that I see a potential problem with standardization when BTC's value could very well rise significantly over relatively short periods of time (years). If the prefix is constantly changing, I could see a lot of potential confusion -- not to mention I have no idea how consensus would be reached among BTC users and vendors. And I foresee lots of people sending irreversible payments to the wrong order of magnitude. Sure, dollars break down to cents. Do I view $1.50 as 150 cents? $100.50 as 10,050 cents? Hell no. Same goes for BTC. When gold went from < $300 to > $1900, did we consider switching to mXAU? But more bothersome to me is that the push to view BTC's price predominantly in mBTC (and later more precise units), is that I feel the people pushing this are doing so purely for financial gain -- the prevalent argument being that late adopters need to psychologically feel like they are getting more for their money, in order for increased adoption and therefore significant price rise to occur. I think that's total bullshit.
1 mBTC = 0.001 BTC= 0.64204 USD (Right?)
In Indonesia you can buy 1 pcs of burger or 1 glass of juice, or 1 pcs of fried chicken or 3-4 minutes telephoner or 360 mb internet data charge
In Indonesia you can buy 1 pcs of burger or 1 glass of juice, or 1 pcs of fried chicken or 3-4 minutes telephoner or 360 mb internet data charge
At the current bitcoin price, it is okay to stick with the unit "btc".
But as zimmah explained, if the bitcoin price goes up dramatically, it is good to use different units for different kinds of trades.
Could you imagine we use "byte" for HDD size and use "meter" for size of transistor in CPU?
But as zimmah explained, if the bitcoin price goes up dramatically, it is good to use different units for different kinds of trades.
Could you imagine we use "byte" for HDD size and use "meter" for size of transistor in CPU?
OP is right -- too confusing. Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap.
BTC is a unit.....
Screw this whole SI unit thing. BTC is a unit already, and it's widely accepted. This unit changing idea is so obviously pegged to USD value, that it means we'll go from mBTC, onto uBTC, satoshis, etc. etc. Or "bits" -- what the hell is that? Just some made up crap. BTC is a unit.....
If you screw the metric system have fun without measuring in kilometers, kilograms, centimeters, Celsius, ampere, volts, ohms, watts, joule, newton, pascal, kelvin, gigahertz, terabytes, and what not.
Have fun with your feet, bananas, inches, spider legs and whatever tools you have laying around there caveman.
You're missing the point. Apparently it went way over your head. I have no problem with the metric system.
BTC is already a unit. What legitimate reason is there to peg it to fiat value -- seemingly the only justification for perpetually changing its unit? Every few years, we gonna change the unit? How many different wallet standards will there be, and how many people are going to send irreversible payments in the wrong order of magnitude?
The dollar is perpetually being devalued -- the inverse of BTC. Do we constantly change the dollar's accepted unit, as it loses value? No; it is a standard that people are used to and understand. Same goes for BTC.
A kilogram is a not a different unit from a gram just like a gigabyte is no different from a megabyte,
There's a unit (gram, bytes, meters, whatever) and a prefix to show the correct order of magnitude so you will at most need 2 decimal places (which we are used to) so if you use the metric system, no matter how small or how large, you can always use the same single unit without needing many decimals. For example, need to measure a distance traveled by car? Use the prefix kilo (which means multiply by 1000) on the unit of distance (meters) and you'll measure distance in kilometers so you don't need to add 3 zeroes and the distance traveled is probably less than 1000 kilometers (otherwise you should TECHNICALLY use megameters Altough noone really uses that)
However meters or kilometers would be quite useless if you are measuring your windows in order to place new frames. You'll need more precision so you divide by 1000 to get millimeters. (Or centimeters, but millimeters is usualy prefered in this case)
Is that not exactly what we want? Using one unit (bitcoin) without using more than 2 decimals? Welcome to the metric system.
It's the bitcoin that is the unit, and milli, micro that is the prefix. Need to buy a house or a car? Bitcoin will do. Need to buy a bread? Millibitcoin will do (for now)
Is it the year 2018 and is bitcoin worth a million?
Need to buy a yacht? A couple of bitcoin will do
Need to buy a car? Millibitcoin will be enough
Need to buy a bread? Microbitcoin will be the best choice
Never need units larger than 1000 and never need units smaller than 0.01
Want large numbers? Measure in microbitcoins and enjoy feeling rich by owning over a million micros
Have you ever seen someone say: well I went on vacation to Spain and it was only 20 millimeters travel?
Of course not! We automatically use the prefix that fits the situation. If the prefix makes it so that the number is between 999 and 0.01 than you use the right prefix. Well technically if we want to be strict about it you should always use the unit that is between 999 and 1.00 (called engineering notation) but either way works.
By the nature of having very many decimals and very large as well as very small numbers (up from megabitcoin, which will probably never be used down to almost nanobitcoin which might be used in the future) makes bitcoin absolutely one of the prime examples of why the metric prefixes were invented in the first place.
Let me explain again. The sole purpose of Metric prefixes is to avoid having to use very large or very small numbers, while having only 1 standard unit of measurement. To avoid conflicting and confusing units and unit conversions.
Would you rather have millimeters and centimeters than having inches, yards and miles? Don't let bitcoin fall to the imperial system with all their weird 'bits' or we might as well introduce the banana scale.
well 1 mbtc = 0.001
when i was a newbie on bitcoin first i see the site coinad.. and they pay in mbtc.. then i go to bitcoinstore.com and see that the thing about 0.15 like .. or more ..
then i thought i get too much from coinad .. after with i see thats one mbtc worth only 0.001 of btc..
So if anyone ask you to give mbtc ask him i will take only btc or atleast 100 mbtc
when i was a newbie on bitcoin first i see the site coinad.. and they pay in mbtc.. then i go to bitcoinstore.com and see that the thing about 0.15 like .. or more ..
then i thought i get too much from coinad .. after with i see thats one mbtc worth only 0.001
of btc..So if anyone ask you to give mbtc ask him i will take only btc or atleast 100 mbtc
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