Is it time to switch to satoshis ??? - page 2.

dancupid

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Quote from: exynos645 on August 31, 2013, 10:32:40 AM

what about k sotachi ? 1000 000 satochis becomes 1000k (no need to say satochi because it is obvious).

I personally think this is the way to go. No one likes decimal points.
1c is better than $0.01. And 64kB is better than 0.000000000064 Petabytes¹

^{1.(I know it's wrong - I was tempted to work it out, but....)}

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: Abdussamad on August 31, 2013, 02:44:04 AM

Zim has had a dollarized economy for a few years now. The local currency isn't used at all.

Indeed, they use USD, ZAR and gold, mainly.

Quote

And people will accept dollars in any country on the planet.

Dollars are not widely accepted in the EU. You'll need eubles (or pounds in the UK, crowns in Denmark, Sweden, Czechia, and so on). Gold and silver might pass muster, and maybe a few very touristy places handle USD at unfavourable exchange rates (to you!).

exynos645

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what about k sotachi ? 1000 000 satochis becomes 1000k (no need to say satochi because it is obvious).

bumpk1nK

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Quote from: Xyver on August 30, 2013, 08:28:49 PM

Right now is a good time for millibitcoins, 1 mBTC=~10 cents.

This. Will not cause much havoc as the price touch 9x cents though 1 USD may be psychological barrier Wink

Mitchell

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Quote from: slob on August 30, 2013, 02:52:35 PM

If...

1 BTC = 1 bitcoin
0.01 BTC = 1 cBTC = 1 centibitcoin (also referred to as bitcent)
0.001 BTC = 1 mBTC = 1 millibitcoin (also referred to as mbit (pronounced em-bit) or millibit or even bitmill)
0.000 001 BTC = 1 μBTC = 1 microbitcoin (also referred to as ubit (pronounced yu-bit) or microbit)
0.000 000 01 BTC = 1 satoshi (pronounced sa-toh-shee)

Bitcents or centibits or CBits seem to be a more manageable value. Unless BTC's value changes, of course!

1 centibit = $1.235

So, that coffee and danish will be 2 centibits.

I am going with this. I like this the most.

elor70

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I personally hate satoshis nomal bitcoins are da best

johnyj

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Beyond Imagination

Let's keep the zeros until the value of daily consumption items drop below 0.001, many units usually give a feeling of dirt cheap, too many zeros can result in some error in counting

Abdussamad

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Quote from: HGT24 on August 30, 2013, 04:33:12 PM

For example, let's say I was living in Zimbabwe. Let's also say, that in Zimbabwe, they widely accept US Dollars and Zimbabwe notes. The merchants don't really care which currency they receive.

Zim has had a dollarized economy for a few years now. The local currency isn't used at all.

And people will accept dollars in any country on the planet.

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Since we're speakin' of plural(s), satoshii comes to mind.

mokahless

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100,000,000 SA is one bitcoin
A coffee is 1,000,000 SA (significantly rounded)

This is too large for my taste but I can see SA becoming common when you can buy a coffee for 1,000 SA or less.

nobbynobbynoob

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Annuit cœptis humanae libertas

Satoshi is one, satoshi are many. But that's just my take and it doesn't make it more correct than someone else pluralizing as "satoshis", for example.

Peeps can denominate in smaller units according to their preference at any time. Personally I'll be inclined to think much more in mBTC when the exchange rate is firmly over about 300 USD, but again, that's somewhat arbitrary and that's just me. My Mycelium mobile wallet is already configured in mBTC.

Xyver

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Should stick with International notation, milli and micro.

1 BTC = 1000 millibitcoins (mBTC)
1 mBTC = 1000 microbitcoins (uBTC)
1 uBTC = 100 satoshis.

Right now is a good time for millibitcoins, 1 mBTC=~10 cents.

ronimacarroni

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It could be
1 Bitcoin= 1BTC
0.1= 1 Bitdime
0.01= 1 Bitcent

ixxi

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Quote from: HGT24 on August 30, 2013, 04:33:12 PM

Quote from: exynos645 on August 30, 2013, 01:34:43 PM

Hello,

I hate decimal numbers and with the value of bitcoin going so much isn't it time to switch to satoshis ? I feel like it would help the adoption because people in general would be more inclined to own 1 million satoshis than 0.01 bitcoin.

Why would people be more inclined to own 1 million satoshis that 0.01 BTC? it is just a number. not a value. please explain this concept to me.

For example, let's say I was living in Zimbabwe. Let's also say, that in Zimbabwe, they widely accept US Dollars and Zimbabwe notes. The merchants don't really care which currency they receive.

Now let's say that $5 US Dollars are equal to $100 Trillion Zimbabwe dollars. I don't think more people would be inclined to own the $100 trillion zimbabwe notes over the $5 USD. Denomination doesn't matter. value does.

This concept of using satoshis because they are a smaller denomination does not make sense to me. This goes along the lines of splitting a stock price so that "more people can afford it". Stock splits don't result in "more people being able to afford" the stock. It just means people are getting more shares for the same price. Same value, smaller denomination. Makes no difference.

There is the psychological border. Some people are less inclined to buy 0.01 BTC than 1 million satoshis, even when they know very well the value is exactly the same.

HGT24

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Quote from: exynos645 on August 30, 2013, 01:34:43 PM

Hello,

I hate decimal numbers and with the value of bitcoin going so much isn't it time to switch to satoshis ? I feel like it would help the adoption because people in general would be more inclined to own 1 million satoshis than 0.01 bitcoin.

Why would people be more inclined to own 1 million satoshis that 0.01 BTC? it is just a number. not a value. please explain this concept to me.

For example, let's say I was living in Zimbabwe. Let's also say, that in Zimbabwe, they widely accept US Dollars and Zimbabwe notes. The merchants don't really care which currency they receive.

Now let's say that $5 US Dollars are equal to $100 Trillion Zimbabwe dollars. I don't think more people would be inclined to own the $100 trillion zimbabwe notes over the $5 USD. Denomination doesn't matter. value does.

This concept of using satoshis because they are a smaller denomination does not make sense to me. This goes along the lines of splitting a stock price so that "more people can afford it". Stock splits don't result in "more people being able to afford" the stock. It just means people are getting more shares for the same price. Same value, smaller denomination. Makes no difference.

og kush420

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not yet, even if bitcoins were $10,000 each satoshi would be relatively worthless

Kluge

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Quote from: HeliKopterBen on August 30, 2013, 02:55:39 PM

Ok satoshi's is wrong but what is right... satoshis
Or would the plural of satoshi be satoshi kind of like deer is the plural of deer

Has this even been defined yet?

... Huh. I've never heard it suggested that satoshi could have an irregular plural form... Normally, something ending in -is turns into -es, so it'd be satoshes - but satoshi only ends in -is once plural (if regular), so that doesn't apply.

-i is a semi-common irregular plural suffix. Cactus->cacti - so it could stay the same, and I don't think many would think twice. I'm not sure we can use English rules on a Japanese word/name, though. Trying to think of a singular noun which ends in i...

(What was this thread about? -- Oh. Yeah. This has been discussed a lot. With the minimum fee on many transactions, and the default rules on the smallest amount which can be sent without being "dust," going with Satoshis would require most people add a shit-load of zeros.... zeroes...... ..... ..... huh.)

ETA: Ski -> skis. khaki -> khakis. Regular. I'm pretty sure satoshi would turn into satoshis. Looks weird. Skis looks weird, too, though, so I guess it's all fine.

HeliKopterBen

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Ok satoshi's is wrong but what is right... satoshis
Or would the plural of satoshi be satoshi kind of like deer is the plural of deer

Has this even been defined yet?

slob

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If...

1 BTC = 1 bitcoin
0.01 BTC = 1 cBTC = 1 centibitcoin (also referred to as bitcent)
0.001 BTC = 1 mBTC = 1 millibitcoin (also referred to as mbit (pronounced em-bit) or millibit or even bitmill)
0.000 001 BTC = 1 μBTC = 1 microbitcoin (also referred to as ubit (pronounced yu-bit) or microbit)
0.000 000 01 BTC = 1 satoshi (pronounced sa-toh-shee)

Bitcents or centibits or CBits seem to be a more manageable value. Unless BTC's value changes, of course!

1 centibit = $1.235

So, that coffee and danish will be 2 centibits.

ronimacarroni

full member

Activity: 140

Merit: 100

Quote from: exynos645 on August 30, 2013, 01:34:43 PM

Hello,

I hate decimal numbers and with the value of bitcoin going so much isn't it time to switch to satoshis ? I feel like it would help the adoption because people in general would be more inclined to own 1 million satoshis than 0.01 bitcoin.

I think 1 cBTC (centibitcoin) sounds better than 1 million satoshis

Topic: Is it time to switch to satoshis ??? - page 2. (Read 5242 times)