Should mBTC become the default unit now

theecoinomist

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Quote from: ?? on ??

No, we shouldn't change it. Otherwise we lose the pricing mechanism. Just like gold is calculated in ounces, we need to have a whole unit to benchmark against.

I don't see how we would lose the pricing mechanism, of course the price would be divided by 1000, but there would be more units equal to that.

crazy_rabbit

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I think so. The exchanges default I think should be mBit and so should everything else. It's getting silly to see things priced at 0.01 bitcoins.

Qoheleth

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Quote from: bitboyben on November 14, 2013, 02:09:57 AM

milli-coins?

Again, sounds enough like "million coins" that I can see it causing confusion.

sushi

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it might become reality if the market price is keep going up and everyone is holding on to their coins

bitboyben

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milli-coins?

Qoheleth

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Spurn wild goose chases. Seek that which endures.

Quote from: ravenx13 on June 07, 2013, 02:21:19 AM

Current prices:
$120 = 1 BTC = 1000 mBTC
100 mBTC = $12
one 7 buck tee = 58 mBTC = 0.058 BTC
"I'd like a t-shirt for point zero five eight bitcoins please"
OR
"I'd like a t-shirt for fifty-eight milliBitcoins"
Take your pick.
Neither sounds great to me because milliBitcoins is a mouthful. Let's start another "how can we make mBTC into a single syllable" thread, find a great shortname for mBTC, and then switch to mBTC (until its time to drop down another 10^3 in a year

).

At smaller scales you can start saying stuff like "microcoins" and "nanocoins" and it sounds plenty "technological", but for 10^-3 BTC, I favor "minicoins" as less of a mouthfull (and because it sounds less like "million coins").

Arksun

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Quote from: ravenx13 on June 07, 2013, 02:21:19 AM

Current prices:
$120 = 1 BTC = 1000 mBTC
100 mBTC = $12
one 7 buck tee = 58 mBTC = 0.058 BTC
"I'd like a t-shirt for point zero five eight bitcoins please"
OR
"I'd like a t-shirt for fifty-eight milliBitcoins"
Take your pick.
Neither sounds great to me because milliBitcoins is a mouthful. Let's start another "how can we make mBTC into a single syllable" thread, find a great shortname for mBTC, and then switch to mBTC (until its time to drop down another 10^3 in a year

).

How about "I'd like t-shirt for fifty eight mB's" (pronounced em-bees)

bitboyben

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I'd like to resurrect this thread given the current situation.

but do we have to call mBTC Ringos?

goxed

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Quote from: derstacker98 on June 07, 2013, 09:35:17 PM

I think that we should keep it as it was. Multiple units for the same things would get confusing. Imagine purchasing 10mBTC on mtGox when you thought it was 10BTC! Things would get really confusing really fast.

We do have multiple units for USD, EURO, GBP, etc.

derstacker98

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I think that we should keep it as it was. Multiple units for the same things would get confusing. Imagine purchasing 10mBTC on mtGox when you thought it was 10BTC! Things would get really confusing really fast.

ThatDGuy

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Quote from: BitBank on June 07, 2013, 03:43:17 PM

Quote from: ravenx13 on June 07, 2013, 02:21:19 AM

Current prices:
$120 = 1 BTC = 1000 mBTC
100 mBTC = $12
one 7 buck tee = 58 mBTC = 0.058 BTC
"I'd like a t-shirt for point zero five eight bitcoins please"
OR
"I'd like a t-shirt for fifty-eight milliBitcoins"
Take your pick.
Neither sounds great to me because milliBitcoins is a mouthful. Let's start another "how can we make mBTC into a single syllable" thread, find a great shortname for mBTC, and then switch to mBTC (until its time to drop down another 10^3 in a year

).

I pick: "I'd like a t-shirt for 58 Bits."

Otherwise, you'd probably be more likely to hear "I'd like a t-shirt for 10 iDollars"

Bits would be perfect, even shorter than Bitcoin.

BitBank

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Merit: 10

Quote from: ravenx13 on June 07, 2013, 02:21:19 AM

Current prices:
$120 = 1 BTC = 1000 mBTC
100 mBTC = $12
one 7 buck tee = 58 mBTC = 0.058 BTC
"I'd like a t-shirt for point zero five eight bitcoins please"
OR
"I'd like a t-shirt for fifty-eight milliBitcoins"
Take your pick.
Neither sounds great to me because milliBitcoins is a mouthful. Let's start another "how can we make mBTC into a single syllable" thread, find a great shortname for mBTC, and then switch to mBTC (until its time to drop down another 10^3 in a year

).

I pick: "I'd like a t-shirt for 58 Bits."

Otherwise, you'd probably be more likely to hear "I'd like a t-shirt for 10 iDollars"

ravenx13

newbie

Activity: 10

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Current prices:
$120 = 1 BTC = 1000 mBTC
100 mBTC = $12
one 7 buck tee = 58 mBTC = 0.058 BTC
"I'd like a t-shirt for point zero five eight bitcoins please"
OR
"I'd like a t-shirt for fifty-eight milliBitcoins"
Take your pick.
Neither sounds great to me because milliBitcoins is a mouthful. Let's start another "how can we make mBTC into a single syllable" thread, find a great shortname for mBTC, and then switch to mBTC (until its time to drop down another 10^3 in a year

).

CKJ411

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Merit: 0

Who cares how big it looks, all the decimals are annoying as Hell. several currencies have in fact changed their numeration to account for massive influxes of valuation.

ThatDGuy

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Merit: 500

Quote from: BitSmile on June 06, 2013, 04:55:51 PM

Quote from: ThatDGuy on June 06, 2013, 04:08:51 PM

Quote from: BitSmile on June 06, 2013, 01:46:05 PM

I'm using it for a few weeks now in my wallet, but I'm switching back to BTC as the default unit. mBTC only makes sense when 1BTC is worth more than 1000 us dollars in my opinion.

Do you think that the change to a different order of magnitude could help BTC cross $1,000 sooner?

I don't think so, but it's possible. What I was saying is that if it crosses 1000$, it makes complete sense to use mBTC as the default unit.

Cool - and I did get that the first time, but was only offering a possible suggestion and question as to why or if it might be worthwhile to switch pre-emptively!

BitBank

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Quote from: ThatDGuy on June 06, 2013, 04:08:51 PM

Quote from: BitSmile on June 06, 2013, 01:46:05 PM

I'm using it for a few weeks now in my wallet, but I'm switching back to BTC as the default unit. mBTC only makes sense when 1BTC is worth more than 1000 us dollars in my opinion.

Do you think that the change to a different order of magnitude could help BTC cross $1,000 sooner?

Absolutely. Psychology is too easily discounted by many here. Potential new bitcoin adopters would rather own 10 of something than 0.1 of something.

BitBank

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Quote from: michaelGedi on June 06, 2013, 08:07:43 AM

I think mBTC is:

A - too geeky for the average joe to know what the "m" stands for.

and

B - too long... 4 syllables?? 4 letters? should be "mBC" at least...

I agree. We are calling the mBTC a "bit". We'll have to see what gets adopted.

Razick

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Quote from: notme on June 06, 2013, 08:29:32 AM

Quote from: michaelGedi on June 06, 2013, 08:07:43 AM

I think mBTC is:

A - too geeky for the average joe to know what the "m" stands for.

and

B - too long... 4 syllables?? 4 letters? should be "mBC" at least...

A. This is only a problem of US Joes. Everywhere else in the world, they are taught m means milli means 1/1000 in the first grade.
B. mBTC (pronounced millibitcoin or millibits so 2 or 3 syllables, take your pick)

Actually, metric units are taught here as well.

I pronounce it em-bit. Millibitcoin is too long.

BitSmile

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Quote from: ThatDGuy on June 06, 2013, 04:08:51 PM

Quote from: BitSmile on June 06, 2013, 01:46:05 PM

I'm using it for a few weeks now in my wallet, but I'm switching back to BTC as the default unit. mBTC only makes sense when 1BTC is worth more than 1000 us dollars in my opinion.

Do you think that the change to a different order of magnitude could help BTC cross $1,000 sooner?

I don't think so, but it's possible. What I was saying is that if it crosses 1000$, it makes complete sense to use mBTC as the default unit.

ThatDGuy

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Quote from: BitSmile on June 06, 2013, 01:46:05 PM

I'm using it for a few weeks now in my wallet, but I'm switching back to BTC as the default unit. mBTC only makes sense when 1BTC is worth more than 1000 us dollars in my opinion.

Do you think that the change to a different order of magnitude could help BTC cross $1,000 sooner?

Topic: Should mBTC become the default unit now (Read 2823 times)