I predict we will soon be pricing everything in satoshis. - page 4.

Atlas

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Activity: 56

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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.

BC12345

newbie

Activity: 57

Merit: 0

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

the_thing

sr. member

Activity: 546

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Proof-of-Stake Blockchain Network

Quote from: Atlas on September 29, 2012, 04:30:26 PM

Quote from: randomguy7 on September 29, 2012, 04:18:13 PM

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I believe mBTC stands for millibitcoin (10^(-3)) and µBTC stands for microbitcoin (10^(-6)).

Atlas

jr. member

Activity: 56

Merit: 1

Quote from: BC12345 on September 29, 2012, 04:46:02 PM

Quote from: Atlas on September 29, 2012, 04:30:26 PM

Quote from: randomguy7 on September 29, 2012, 04:18:13 PM

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I also prefer mBTC and µBTC because this keeps the unit "BTC".

mBTC = milli Bitcoin (milli = the thousandth part of something)
µBTC = micro Bitcoin (micro = the millionth part of something)

No other currency does this though and it's hard to grasp the part to whole ratio for most non-geeks. I mean, look at Yen. They happily go into the millions.

BC12345

newbie

Activity: 57

Merit: 0

Quote from: Atlas on September 29, 2012, 04:30:26 PM

Quote from: randomguy7 on September 29, 2012, 04:18:13 PM

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

I also prefer mBTC and µBTC because this keeps the unit "BTC".

mBTC = milli Bitcoin (milli = the thousandth part of something)
µBTC = micro Bitcoin (micro = the millionth part of something)

Atlas

jr. member

Activity: 56

Merit: 1

Quote from: bracek on September 29, 2012, 04:27:48 PM

bitcoin price rise is slowing down from exponential to linear.
I suppose it is because bitcoin already burned through most of the geek mass,
and all that is left are slower type of people, slow linear adoption ? who would know

also, there is now resignation, If i cant get 1000 coins I won't buy

after this new year turmoil, I would not expect any excitement for a long time,
I doubt any big company will adopt it before next reward drop from 25 to 12.5

I hope you're right. I need more time to buy.

Atlas

jr. member

Activity: 56

Merit: 1

Quote from: randomguy7 on September 29, 2012, 04:18:13 PM

I prefer mBTC and µBTC

I will argue that it's hard for people to understand what these exactly mean. I can't even grasp it based on those names.

bracek

hero member

Activity: 530

Merit: 500

bitcoin price rise is slowing down from exponential to linear.
I suppose it is because bitcoin already burned through most of the geek mass,
and all that is left are slower type of people, slow linear adoption ? who would know

also, there is now resignation, If i cant get 1000 coins I won't buy

after this new year turmoil, I would not expect any excitement for a long time,
I doubt any big company will adopt it before next reward drop from 25 to 12.5

SpontaneousDisorder

member

Activity: 87

Merit: 10

How many satoshis in an atlas?

randomguy7

hero member

Activity: 527

Merit: 500

I prefer mBTC and µBTC, and satoshis for values 1 to 99.

Atlas

jr. member

Activity: 56

Merit: 1

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

Once .1 BTC becomes $10, people will likely say things like "This rubber duck is worth .0125 bitcents." Okay, that works.

Then .01 becomes $10. .001 is not a bitcent. What do we do with the vocabulary we have now? We go the way of the Japanese Yen.

When we have .001 Bitcoins, we will say we have 100,000 satoshis, since there are 100-million satoshis in a Bitcoin. The satoshi is the smallest unit.

So, in short, when we start commonly pricing things in .001-.01, thousands of satoshis will be the wording since we will get tired of adjusting to the exchange rate through vocabulary.

TLDR: .001 = 100,000 satoshis

Thoughts? Is my math right?

Topic: I predict we will soon be pricing everything in satoshis. - page 4. (Read 10351 times)