I predict we will soon be pricing everything in satoshis.

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: zoinky on January 22, 2013, 08:38:13 PM

Pretty optimistic, I'd give it at least 4-8 years. The next reward halvings will be very very interesting times.

Bitcoin has risen in fiat price more than thousandfold since its inception. It might not go up that much in the next four years, but hundredfold looks possible if not probable. Or it might be worth nothing.

TraderTimm

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Quote from: SouthernComfort on January 20, 2013, 05:48:56 PM

I don't like it, it's not linear. There's hardly any difference in the value of 1 satoshi and 100 000 satoshies as of now, but there is a huge difference in value between 10^6 satoshies and 10^9 satoshies. All those zeroes will just confuse people.

Hey jackhole, any reason you're NECROPOSTING old threads?

zoinky

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Quote from: constitution on January 22, 2013, 08:09:09 PM

Not a prediction its a fact, give it 1-2 years and people buying and selling a whole bitcoin will be very rare.

Pretty optimistic, I'd give it at least 4-8 years. The next reward halvings will be very very interesting times.

constitution

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Not a prediction its a fact, give it 1-2 years and people buying and selling a whole bitcoin will be very rare.

Lethn

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Yeah, what the hell is the point in calling them Satoshi's? There's nothing difficult about writing 0.000001 Bitcoins, this is reminding me of silly overcomplicated bullshit that financial people try to use to confuse people and I already see it happening with these survey sites who say it to try and make you think you're getting a lot when you actually aren't. Talk about it amongst yourselves if you like, as for me? I don't like making up words for things we already have words for in the first place, not when it comes to business anyway because it is pretty dishonest.

Next we'll be seeing people re-invent mathematics to make 1 + 1 = 3 and 2 + 2 = 6

Also, while it is possible Bitcoins will be insanely valuable, as people have said in conversations with me that would take an insane amount of printing for that to happen in reality, 1 Bitcoin by itself is already worth quite a bit when you consider other currencies out there.

SouthernComfort

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I don't like it, it's not linear. There's hardly any difference in the value of 1 satoshi and 100 000 satoshies as of now, but there is a huge difference in value between 10^6 satoshies and 10^9 satoshies. All those zeroes will just confuse people.

Uuno

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Quote from: nameface on October 02, 2012, 07:18:52 AM

Quote from: Uuno on October 02, 2012, 07:13:03 AM

Quote from: Atlas on September 29, 2012, 04:56:48 PM

Quote from: BC12345 on September 29, 2012, 04:54:14 PM

Quote from: Atlas on September 29, 2012, 04:46:54 PM

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg) Wink

This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.

It is already tied with drug culture.

So is USD.

Well, that's true.

Aahzman

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Your *what* is itchy?

Quote from: Atlas on October 02, 2012, 09:07:56 AM

Here's a clearer proposition, verbally:

1 Bitcoin = 1 Bitcoin

.1 Bitcoins = 10 million satoshis

.01 Bitcoins = 1 million satoshis

.001 Bitcoins = 100,000 satoshis

.0001 Bitcoins = 10,000 satoshis

.00001 Bitcoins = 1,000 satoshis

.000001 Bitcoins = 100 satoshis

.0000001 Bitcoins = 10 satoshis

.00000001 Bitcoins = 1 satoshi

So BTC1 = 100 million Ozawas?

Atlas

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Here's a clearer proposition, verbally:

1 Bitcoin = 1 Bitcoin

.1 Bitcoins = 10 million satoshis

.01 Bitcoins = 1 million satoshis

.001 Bitcoins = 100,000 satoshis

.0001 Bitcoins = 10,000 satoshis

.00001 Bitcoins = 1,000 satoshis

.000001 Bitcoins = 100 satoshis

.0000001 Bitcoins = 10 satoshis

.00000001 Bitcoins = 1 satoshi

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: Kupsi on October 02, 2012, 06:33:26 AM

Quote from: nobbynobbynoob on October 01, 2012, 08:27:02 PM

Although cents might be pretty useful too (it is money!), and one cent = one million satoshi.

Why is cent (centi) useful and not milli or micro? Because you have heard of it before?

I'm very familiar with SI divisions but not so much in the context of dividing up money. The question of how best to describe divided units of revalued bitcoins is important, of course.

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

0.01 µBTC

Aahzman

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Your *what* is itchy?

Quote from: Kupsi on October 02, 2012, 06:27:24 AM

Quote from: Aahzman on October 01, 2012, 07:58:52 PM

and what about the smaller segments?
BTC/Bitcoin (BTC1.0)
dBTC/deciBitcoin (BTC0.1 or bit-dime)
cBTC/centiBitcoin (BTC0.01 or bit-cent)
mBTC/milliBitcoin (BTC0.001 or bit-mill)
µBTC/microBitcoin (BTC0.0001 or bit-mike)
nBTC/nanoBitcoin (BTC0.00001 or bit-nan)
pBTC/picoBitcoin (BTC0.000001 or bit-peek)
fBTC/femtoBitcoin (BTC0.0000001 or bit-fem)
aBTC/attoBitcoin (BTC0.00000001 or bit-att)

That's not correct.

µBTC/microBitcoin = BTC0.000001
nBTC/nanoBitcoin = BTC0.000000001
and so on...

hrm. ok, so µBTC is really the smallest useable metric prefix for bitcoin, then. ie 1 µBTC BTC0.00000100

Which brings us back to coming up with a name for BTC0.00000001

I still wanna go with the ozawa or the hitomi. "Hey bro, transfer me 50 ozawas to

?"

Aahzman

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Your *what* is itchy?

Quote from: Kupsi on October 02, 2012, 06:27:24 AM

Quote from: Aahzman on October 01, 2012, 07:58:52 PM

and what about the smaller segments?
BTC/Bitcoin (BTC1.0)
dBTC/deciBitcoin (BTC0.1 or bit-dime)
cBTC/centiBitcoin (BTC0.01 or bit-cent)
mBTC/milliBitcoin (BTC0.001 or bit-mill)
µBTC/microBitcoin (BTC0.0001 or bit-mike)
nBTC/nanoBitcoin (BTC0.00001 or bit-nan)
pBTC/picoBitcoin (BTC0.000001 or bit-peek)
fBTC/femtoBitcoin (BTC0.0000001 or bit-fem)
aBTC/attoBitcoin (BTC0.00000001 or bit-att)

That's not correct.

µBTC/microBitcoin = BTC0.000001
nBTC/nanoBitcoin = BTC0.000000001
and so on...

Wiki page on metric prefixes lied to me? Mothersmurfers!

*edit* oh it didn't lie to me, i just read the dang thing wrong *facepalm*

nameface

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Quote from: Uuno on October 02, 2012, 07:13:03 AM

Quote from: Atlas on September 29, 2012, 04:56:48 PM

Quote from: BC12345 on September 29, 2012, 04:54:14 PM

Quote from: Atlas on September 29, 2012, 04:46:54 PM

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg) Wink

This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.

It is already tied with drug culture.

So is USD.

Uuno

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Merit: 10

Quote from: Atlas on September 29, 2012, 04:56:48 PM

Quote from: BC12345 on September 29, 2012, 04:54:14 PM

Quote from: Atlas on September 29, 2012, 04:46:54 PM

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks.

The people on Silkroad are quite familiar with the word milligram (mg) Wink

This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.

It is already tied with drug culture.

nameface

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Activity: 406

Merit: 250

Quote from: Aahzman on October 01, 2012, 08:32:41 PM

Quote from: nameface on October 01, 2012, 08:15:47 PM

I don't like this idea of referring to a fraction of a bitcoin as it's own "coin". Satoshi FTW

can we at least use the name of a sexy anime female or japanese porn star? Who's that one with the giant freakin' knockers...Hitomi Tanaka. So, how about instead of "Satoshis" we use "Sakuras" or "Hitomis", or maybe Ozawas?

+10

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

Quote from: Atlas on October 02, 2012, 06:36:18 AM

Quote from: Kupsi on October 02, 2012, 06:33:26 AM

Quote from: nobbynobbynoob on October 01, 2012, 08:27:02 PM

Although cents might be pretty useful too (it is money!), and one cent = one million satoshi.

Why is cent (centi) useful and not milli or mikro? Because you have heard of it before?

Now you're starting to understand how humans work. There is a ~~good~~ reason why Americans still hate the metric system.

FTFY

Atlas

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Quote from: Kupsi on October 02, 2012, 06:33:26 AM

Quote from: nobbynobbynoob on October 01, 2012, 08:27:02 PM

Although cents might be pretty useful too (it is money!), and one cent = one million satoshi.

Why is cent (centi) useful and not milli or mikro? Because you have heard of it before?

Now you're starting to understand how humans work. There is a good reason why Americans still hate the metric system.

Kupsi

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Activity: 1193

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9.9.2012: I predict that single digits... <- FAIL

Quote from: nobbynobbynoob on October 01, 2012, 08:27:02 PM

Although cents might be pretty useful too (it is money!), and one cent = one million satoshi.

Why is cent (centi) useful and not milli or micro? Because you have heard of it before?

Kupsi

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Activity: 1193

Merit: 1003

9.9.2012: I predict that single digits... <- FAIL

Quote from: Aahzman on October 01, 2012, 07:58:52 PM

and what about the smaller segments?
BTC/Bitcoin (BTC1.0)
dBTC/deciBitcoin (BTC0.1 or bit-dime)
cBTC/centiBitcoin (BTC0.01 or bit-cent)
mBTC/milliBitcoin (BTC0.001 or bit-mill)
µBTC/microBitcoin (BTC0.0001 or bit-mike)
nBTC/nanoBitcoin (BTC0.00001 or bit-nan)
pBTC/picoBitcoin (BTC0.000001 or bit-peek)
fBTC/femtoBitcoin (BTC0.0000001 or bit-fem)
aBTC/attoBitcoin (BTC0.00000001 or bit-att)

That's not correct.

µBTC/microBitcoin = BTC0.000001
nBTC/nanoBitcoin = BTC0.000000001
and so on...

Topic: I predict we will soon be pricing everything in satoshis. (Read 10351 times)