Topic: Let's use mBTC instead of BTC - page 3. (Read 4268 times)

Well, I already do deal with bitcoin in terms of mBTC.  That's the wonderful thing about the decimal system...one can think about it in any terms they wish.  It my help some who have a problem comprehending decimals to learn engineering notation.  It's a great format to simplify decimal places in one's mind on the fly.

MBTC is like pennies compared to BTC though. I don't like this idea

This is a very old and familiar issue in science and engineering, where quantities have values that may vary over orders of magnitude.
It's been resolved by referring to quantities in SI engineering units (milli, micro, nano, kilo, mega etc).
The idea is you figure out the 'closest' of those units to use where 'close' is defined by the unit leaving an integer value with maybe one or two decimal points.
Noone would ever use stuff like 0.000001 btc, for example. It would simply be 1 microbitcoin (1uBTC).
Even if satoshis were considered the base unit,  noone would ever use 100000000 satoshis, it would be 100 megasatoshis (probably 100MS if it became common enough).

So, at the moment if we're dealing with USD, a millibitcoin is the best unit for every day transaction sizes.

It requires some familiarity with the SI engineering units, but it's sensible to take a lead from the people who deal with ranges like this every day, right?
Even the financial world (where they like to add many zeroes) is now using 'k' to indicate a 1000 multiplier.
People know what 'k' and 'M' mean now as well. It's not so hard.

There's a couple of sensible options (everything in SI units with satoshis as the base, or everything in SI units with bitcoin as the base). It's unfortunate Satoshi made the smallest unit 10^-8 btc instead of 10^-9 (a nanobitcoin). if he had, we'd not even need satoshi as a unit.

And there's no need to add an unnecessary new unit like 'bit', when all it is is a microbitcoin (maybe 'micro' for short) - that's just stupid and confusing.

Yes, and do you see what the common denominator is here?  It's the satoshi unit, and that's one of only two that should be used in my opinion.  I strongly, strongly believe that one should either use satoshi (or ksat: 100ksat = 1btc) or BTC.  Everything else is unnecessary and only introduces more steps in describing what should be a very simple quantity.

Most of us have had training in science, right?  Think of how many garbage units we have to deal with just to describe a single quantity.  Back when I learned about the ideal gas law, there were so many different R constants because Pressure could be in torr, atm, mmHg; Volume could be in liters, CC, M^3; and Temperature could be in Celcius, Fahrenheit, and Kelvin.  It was ludicrous and there are so many other examples of this it makes my head spin just trying to think about all of it again.

So for me it's Satoshi or BTC.  Nothing else.  Not Bits, not mBTC, not uBTC.

i find working with decimals very easy and smooth. i could also use mbtc, but that requires me to get used to it. not really a big deal, but still... i much rather work with btc.

I prefer using a whole BTC as a unit but it's most important to have a united system (either mBTC or BTC as a whole) because it would be even less convenient if every site has a different denominator they use (mBTC, satoshi, Bitcents, whole BTC).

I prefer using BTC over any other denominations. I guess with time I've become used to the BTC decimals and know how to deal with transactions using only BTC.

It's a matter of what you're conditioned to, but I think it's just much easier to use BTC's as the main unit of measurement.

It's not the wrong way, actually it would be the right unit to use in order to have the smallest whole numbers in most everyday transactions. As I was saying in another post, currently, it's as if we took body measurements in miles instead of inches. Of course it's just a suggestion, I'm not forcing anyone to use it.

mBTC and satoshis are not actual units of bitcoins.

They are sub-units actually just like grams and milligrams.

So the main unit is BTC and is easily recognizable.

mBTC are complicating and you have to calculate in BTC again.

So why you go in the wrong way?

Let's not. I personally get really confused when I see something in mBTC or other variants, I started thinking in BTC and now it's been pretty hard to reroute my brain

My mobile wallet defaults to bits too, and I have to think carefully when I want to make a transaction and the QR doesn't ask the amount automatically or there's just an address.

Anyways, I can get used to it, eventually, but I do prefer the BTC denomination only. As long as most services allow presenting amounts either in BTC or mBTC, everything will be fine

BTC will rise in value and once it hit the $1000 barrier again the most functional thing to do is to start using the Mbtc measure. It will have much more utility that way, once it hit $1000

Wrong approach according to me. That does not mean that I am right and the OP has wrong. That mean only that my brain don't work like the brain of OP. My brain need more than 5 hours to understand the real value in bitcoin if it is shown 10 mbtc or 3.5 cmbtc (if exist this measure). While absorb immediately every amount told or write in btc. Not only this. But understand almost immediately even the value of these figures in fiat (mainly us dollar). So I vote for the btc and not for the its subdivisions. 

I agree to this and allot of sites using BTC already started doing so, The 1 unit is so large that it's not practical to actually consider the BTC a base currency.

I find dealing in mBtc abit confusing sometimes aswell, especially when using differant devices and wallets.

I personally like satoshis and just plain BTC with the decimals. You get accostumed to the zeros at some point.

I feel that are more common and that is why they are easier to read. Got accostumed to mBTC when I used coinbase a lot, but then lost it somehow when I stopped seeing amounts on mBTC.

You get good at reading what you read most.

mBTC doesnot fits for speaking out the numbers like 5 Btc is said 5000 mBtc.
5 Btc is easier to speak than 5000mbtc

yes true, I strongly agree, even too many zeros after the decimal point increasingly seen little value, I also wonder kenpa people not wearing the unit mBTC, but it is looking good and elegant, like transactions 5 mBTC or 10mBTC, looks cool does not it?

I understand what you are saying, but I do not understand how that would be move convenient.  People need to understand what a Bitcoin is and when we do this, you will confuse people.  When  first started with Bitcoin, I did a faucet thinking I was getting more than I was because it was in mBTC.  It is just confusing for newbies.

yes also in many sports gambling websites they use mBTC as units in my opinion he could just uses a converter to USD or Euro to do his txs

This.

You don't have to convince everyone to switch to certain unit, you can just choose which one you prefer.

But I've noticed that mBTC gained a lot of popularity lately, most bitcoin poker sites would use it.