I can't even type the "u" thing for the last subunit name. Based on that, it's going to be dead soon.
You mean like how "microtorrent" is dead? Instead of just colloquialized to U Torrent?
Topic: I predict we will soon be pricing everything in satoshis. - page 3. (Read 10351 times)
You mean like how "microtorrent" is dead? Instead of just colloquialized to U Torrent?
We will always know there are 100-million Satoshis in a Bitcoin.
We will always know there are 1 million µBTC in a Bitcoin 
1 BTC = 1,000 mBTC = 1,000,000 µBTC
0.1 BTC = 100 mBTC = 100,000 µBTC
0.01 BTC = 10 mBTC = 10,000 µBTC
0.001 BTC = 1 mBTC = 1,000 µBTC
0.0001 BTC = 0.1 mBTC = 100 µBTC
0.00001 BTC = 0.01 mBTC = 10 µBTC
0.000001 BTC = 0.001 mBTC = 1 µBTC
0.0000001 BTC = 0.0001 mBTC = 0.1 µBTC
0.00000001 BTC = 0.00001 mBTC = 0.01 µBTC = 1 Satoshi
You can remember those conversions or you can just remember 1 Bitcoin, 100 bitcents and 100-million satoshis. See my point?
Most people can't even type uBTC much less say "uBTC'. It's so awkward.
It is easier to remember it this way: 1,000 millibits per bitcoin, 1,000 microbits per millibit.
On a mac it is easy, hold alt and hit the 'm' key to get the µ, which is mu, the greek equivalent for m. But if you type uBTC people will recognise it is actually supposed to be µBTC. Just like if you are talking about small distances and if you say um people understand the context and know you actually mean µm.
Quote
All that is certain is that the smallest unit is a satoshi.
That is only temporary. When we are all stinking rich we'll be buying stuff for satoshicents or less a pop.
-MarkM-
And after that we'll be paying in milliSatoshis!
Quote
All that is certain is that the smallest unit is a satoshi.
That is only temporary. When we are all stinking rich we'll be buying stuff for satoshicents or less a pop.
-MarkM-
And after that we'll be paying in milliSatoshis!
Quote
All that is certain is that the smallest unit is a satoshi.
That is only temporary. When we are all stinking rich we'll be buying stuff for satoshicents or less a pop.
-MarkM-
As long as the amount in BTC is clearly and unambiguously understood, the different designations are purely arbitrary. The BTC-cent-satoshi division is logical only because legacy currencies have often divided the major unit by 100 at the first level.
You can remember those conversions or you can just remember 1 Bitcoin, 100 bitcents and 100-million satoshis. See my point?
Most people can't even type uBTC much less say "uBTC'. It's so awkward.
They only need to remember 1 BTC = 1,000 mBTC = 1,000,000 µBTC.Most people can't even type uBTC much less say "uBTC'. It's so awkward.
I believe 1 - 1,000 - 1,000,000 is easier to remember than 1 - 100 - 100,000,000.
I guess we'll call it "microbit" when speaking.
It will have to be defined through gradual consensus. All that is certain is that the smallest unit is a satoshi.
You can remember those conversions or you can just remember 1 Bitcoin, 100 bitcents and 100-million satoshis. See my point?
Most people can't even type uBTC much less say "uBTC'. It's so awkward.
They only need to remember 1 BTC = 1,000 mBTC = 1,000,000 µBTC.Most people can't even type uBTC much less say "uBTC'. It's so awkward.
I believe 1 - 1,000 - 1,000,000 is easier to remember than 1 - 100 - 100,000,000.
I guess we'll call it "microbit" when speaking.
We will always know there are 100-million Satoshis in a Bitcoin.
We will always know there are 1 million µBTC in a Bitcoin 1 BTC = 1,000 mBTC = 1,000,000 µBTC
0.1 BTC = 100 mBTC = 100,000 µBTC
0.01 BTC = 10 mBTC = 10,000 µBTC
0.001 BTC = 1 mBTC = 1,000 µBTC
0.0001 BTC = 0.1 mBTC = 100 µBTC
0.00001 BTC = 0.01 mBTC = 10 µBTC
0.000001 BTC = 0.001 mBTC = 1 µBTC
0.0000001 BTC = 0.0001 mBTC = 0.1 µBTC
0.00000001 BTC = 0.00001 mBTC = 0.01 µBTC = 1 Satoshi
You can remember those conversions or you can just remember 1 Bitcoin, 100 bitcents and 100-million satoshis. See my point?
Most people can't even type uBTC much less say "uBTC'. It's so awkward.
We will always know there are 100-million Satoshis in a Bitcoin.
We will always know there are 1 million µBTC in a Bitcoin 1 BTC = 1,000 mBTC = 1,000,000 µBTC
0.1 BTC = 100 mBTC = 100,000 µBTC
0.01 BTC = 10 mBTC = 10,000 µBTC
0.001 BTC = 1 mBTC = 1,000 µBTC
0.0001 BTC = 0.1 mBTC = 100 µBTC
0.00001 BTC = 0.01 mBTC = 10 µBTC
0.000001 BTC = 0.001 mBTC = 1 µBTC
0.0000001 BTC = 0.0001 mBTC = 0.1 µBTC
0.00000001 BTC = 0.00001 mBTC = 0.01 µBTC = 1 Satoshi
I can't even type the "u" thing for the last subunit name. Based on that, it's going to be dead soon.
Also, again:
10,000 Satoshis
or
1 uBTC
(The fact I probably got the math wrong for the last one shows the problem I am speaking of.)
Which one is more easy to grasp at first glance? We will always know there are 100-million Satoshis in a Bitcoin.
Also, again:
10,000 Satoshis
or
1 uBTC
(The fact I probably got the math wrong for the last one shows the problem I am speaking of.)
Which one is more easy to grasp at first glance? We will always know there are 100-million Satoshis in a Bitcoin.
1 million satoshi = 1 cent or BTC0,01
100 cents = BTC1
I think we can comfortably deal in satoshi and 1/100s of a cent (units of 10k satoshi), but that's just me. Bitcoin-Qt, of course, allows users to display amounts in mBTC and µBTC. Just be sure not to send someone five bitcoins when you meant to ship 'em half a cent!
100 cents = BTC1
I think we can comfortably deal in satoshi and 1/100s of a cent (units of 10k satoshi), but that's just me. Bitcoin-Qt, of course, allows users to display amounts in mBTC and µBTC. Just be sure not to send someone five bitcoins when you meant to ship 'em half a cent!
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.
BTC is different than any other currency in history in many more ways than that... why not have unique measurements? Everyone has already accepted and uses mBTC and µBTC... they are simple and make sense. My advice is to learn it and get used to it.
It may work on this forum but with most people, according to history, I doubt it. I will wait and see how the culture forms.
Most currencies only go by set names for two-three different units and they aren't metric prefixes. I doubt humans will suddenly change for anything.
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)
This is a great point. Seriously. Bitcoin will eventually be closely tied with drug culture.
5.56×45mm NATO ammunition, if you prefer Bitcoins being linked to guns. But I'll admit that I don't know of any currency that uses "milli" or "micro".
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.
BTC is different than any other currency in history in many more ways than that... why not have unique measurements? Everyone has already accepted and uses mBTC and µBTC... they are simple and make sense. My advice is to learn it and get used to it.
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.
Here's 100 millicoins.
or
Here's 100k in satoshis.
Which uses more common language?
In Yen, people commonly deal in 10s to 100s of thousands of a unit. Not the metric system applied to the largest unit.
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
It takes a moment to get used to, but once you use it a few times it just seems natural.
If you pay attention, people sometimes denominate small values in cents, nobody has a problem converting that to dollars. And for large values people sometimes report values in k$ or M$.
Right now a US dollar is worth about 80 mBTC. One share of SatoshiDice is going for about 3.4 mBTC. One US cent is now about 0.8 mBTC or 800 µBTC.
For speculating on value, I suspect the price will level off at some point, so I don't think we will ever be dealing in satoshis.
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
That's not with money though. That's with measurements. Nobody uses those with currency as far as I know.
In Europe, we also use ml (milliliter/millilitre) and mm (millimeter/millimetre). People here have no problem with that.
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