Just use mB for anything less than one bitcoin.
E.G. the price of a USD is currently 7.8 mB.
But when dealing with larger numbers it still makes sense to use whole bitcoins rather than mB.
E.G. I would sell my car for 31 btc.
It would be silly to say my car costs 31000 mB, and even sillier to say my car cost 31 kmB (31 kilomillibitcoin)
Topic: Start Using mBTC as Standard Denomination? - page 9. (Read 30892 times)
+1, does anyone know how to propose a software change to QT?
Fork the repository, commit your change, and submit a pull request.
The easiest way to force adoption of such a change would be to simply change the default units in the next bitcoin-qt release from BTC to mBTC.
Most people would not change the default and get used to dealing with mBTC.
Most people would not change the default and get used to dealing with mBTC.
+1, does anyone know how to propose a software change to QT?
The word "Bitcoin" has too much momentum to subvert it now, and any attempt to do so would only further confuse the masses, which are already pretty confused by this whole Bitcoin thing as it stands.
The base unit of the Bitcoin currency is the bitcoin. As we're all scientifically minded folks here, it makes sense to use the SI prefixes to denote smaller (and larger) quantities of bitcoins.
The abbreviation of the bitcoin unit is BTC. It really should have been XBC, if we were to follow the rules of the ISO regarding currency codes, but it's not, and again, we're dealing with momentum. You can't easily change it now, nor should you, for the aforementioned reason.
Thus, the logical conclusion is that quantities of bitcoins may be expressed in units of millibitcoins, and the abbreviation of the millibitcoin is mBTC.
In casual parlance, I wouldn't expect anyone to utter the phonemes "em bee tee cee." I'd expect people to say "mils," "millies," or "millibits." I'd expect "millibitcoins" will be considered too formal for casual utterance.
I personally will probably say "mill," dropping the 's' even in the plural. "Are you kidding me?! 42 mill for a beer?!"
The base unit of the Bitcoin currency is the bitcoin. As we're all scientifically minded folks here, it makes sense to use the SI prefixes to denote smaller (and larger) quantities of bitcoins.
The abbreviation of the bitcoin unit is BTC. It really should have been XBC, if we were to follow the rules of the ISO regarding currency codes, but it's not, and again, we're dealing with momentum. You can't easily change it now, nor should you, for the aforementioned reason.
Thus, the logical conclusion is that quantities of bitcoins may be expressed in units of millibitcoins, and the abbreviation of the millibitcoin is mBTC.
In casual parlance, I wouldn't expect anyone to utter the phonemes "em bee tee cee." I'd expect people to say "mils," "millies," or "millibits." I'd expect "millibitcoins" will be considered too formal for casual utterance.
I personally will probably say "mill," dropping the 's' even in the plural. "Are you kidding me?! 42 mill for a beer?!"
A switch to lower denomination is an excellent idea. I still talk to people who don't realise btc is divisible and as such think that it can't work.
M-Day is also a great idea - but the 2nd of June is far too soon. Get general agreement on a proposal on this board. Then gent consensus among a significant number of the exchanges and chart sites to default to mbtc in principle (with an option to switch view to btc). Then try and hammer out a target date.
Good point re. software. The wallet sites and wallet software devs would need to agree too.
M-Day is also a great idea - but the 2nd of June is far too soon. Get general agreement on a proposal on this board. Then gent consensus among a significant number of the exchanges and chart sites to default to mbtc in principle (with an option to switch view to btc). Then try and hammer out a target date.
Good point re. software. The wallet sites and wallet software devs would need to agree too.
The easiest way to force adoption of such a change would be to simply change the default units in the next bitcoin-qt release from BTC to mBTC.
Most people would not change the default and get used to dealing with mBTC.
+1 for this Most people would not change the default and get used to dealing with mBTC.
How about "mibs"? That's a combination of "milli" + "bit". It's easy to say, easy to spell, and has meaning. Right now $10 could buy you roughly 76 1/2 mibs. One mib would be worth just over $0.13 US or 13 cents at this time. If a single BTC was worth $1,000 then a mib would be $1 US. Then we could go to mibcents equal to a single US penny.
Primarily based on James Bond's connection to Miss Moneypenny.
What do you prefer?
10 mbc (milibitcoin)
10 mBTC
10 milis
10 milcoins
Other...
I really like 1 mbc, in lowercase also indicates that it's a subunit.
10 mbc (milibitcoin)
10 mBTC
10 milis
10 milcoins
Other...
I really like 1 mbc, in lowercase also indicates that it's a subunit.
The easiest way to force adoption of such a change would be to simply change the default units in the next bitcoin-qt release from BTC to mBTC.
Most people would not change the default and get used to dealing with mBTC.
Most people would not change the default and get used to dealing with mBTC.
It is like being named Trevor or Agnes.
LOL! I'm sure there are some Trevor's and Agnes' out there that like their name. Ha ha!
Why isnt there a "i support another denomination" option
From a subliminal, mass-marketing standpoint, "bit" is sometimes associated with something small, fractional, and insignificant, and "coin" is most commonly associated with a fraction of a dollar, franc, or peso.
It is like being named Trevor or Agnes.
Although it is probably too late to do anything about it.
car names
http://carzz.co/designbook/375/ten-of-the-worst-car-names/
http://www.theglobeandmail.com/globe-drive/car-life/best-and-worst-weird-wacky-and-wonderful-car-names/article12220424/
It is like being named Trevor or Agnes.
Although it is probably too late to do anything about it.
car names
http://carzz.co/designbook/375/ten-of-the-worst-car-names/
http://www.theglobeandmail.com/globe-drive/car-life/best-and-worst-weird-wacky-and-wonderful-car-names/article12220424/
What does the m stand for? Milli or micro?
I find it confusing and would rather use a decimal point than worry about mBTC.
I find it confusing and would rather use a decimal point than worry about mBTC.
The word Bond might have potential.
How about MBC? Mili Bitcoin
Or maybe just "Milicoin".
Or maybe just "Milicoin".
I agree mBTC is kind of awkward. It's 4 syllables, and it isn't obviously related to Bitcoin unless you already know what BTC means.
Ideally we'd use something that's 1-3 syllables, and is obviously related to Bitcoin.
"Bitdollar" seems counter-intuitive since it's less than a bitcoin, but would be relatively close in value to USD... for now.
"Millicoin" sounds like a tiny amount, otherwise I like it. It extends to "Microcoin" if we're ever fortunate enough to have that problem.
Ideally we'd use something that's 1-3 syllables, and is obviously related to Bitcoin.
"Bitdollar" seems counter-intuitive since it's less than a bitcoin, but would be relatively close in value to USD... for now.
"Millicoin" sounds like a tiny amount, otherwise I like it. It extends to "Microcoin" if we're ever fortunate enough to have that problem.
As I said in another thread, the word "coin" here is the problem. People see coins as small, semi-worthless denominations of a larger unit, and they also see them as somewhat non-divisible, at least not by a significant amount.
I agree with your reasoning but I believe it is the "Bit" portion that is giving people the perception of "small, semi-worthless". I'd rather not see names like Bitcent, or millibit, or anything with "bit" in it. I like the idea of naming the denominations after those who've contributed to getting Bitcoin off the ground. Like 1 mBTC could be called a Gavin. I don't really care if it is called a Gavin, just want a unique name not associated with the word bit.
And I agree, no one should ever see the price of 1 BTC at $1,000. We should be dealing with smaller denominations before that happens.
Fantastic!
I think m-Day could be huge. All we need is MtGox on board. As I said earlier:
I think m-Day could be huge. All we need is MtGox on board. As I said earlier:
... Second, I do think we should make a concerted push toward mBTC (we shouldn't skip all the way to Satoshis).
Newer people will not know that we had a large discussion about moving the decimal place early in this forum's and Bitcoin's life. Some of the exact same reasoning about perception being key was brought up, including by myself. In fact, if you look at the chart on this page you will see there was one weird spike in Bitcoin's price history where it went from around $1 to $30 and back to around $1-2 in a short timespan. Guess what. That spike, if you look at this forum's history, corresponded with discussing moving the decimal place in a concerted way. People understood that if 1 mBTC reached dollar parity then owning whole bitcoins would mean a lot of value (1 thousand times more, to be precise), and the price shot up, then crashed.
We mostly didn't move the decimal place. I think because it wouldn't have made sense. We had only recently reached dollar parity, giving Bitcoin that crucial credibility boost. It wouldn't make sense to hide that by referring to everything with mBTC which would then be worth about $.001. Now, however, things are different. We've reached $100, and I think perception is one reason we're sort of stuck there. If we go to mBTC now they would be worth $0.10 each approx, which is easy to comprehend.
I think we need to push the exchanges to do this. If they do so everyone else will follow.
Newer people will not know that we had a large discussion about moving the decimal place early in this forum's and Bitcoin's life. Some of the exact same reasoning about perception being key was brought up, including by myself. In fact, if you look at the chart on this page you will see there was one weird spike in Bitcoin's price history where it went from around $1 to $30 and back to around $1-2 in a short timespan. Guess what. That spike, if you look at this forum's history, corresponded with discussing moving the decimal place in a concerted way. People understood that if 1 mBTC reached dollar parity then owning whole bitcoins would mean a lot of value (1 thousand times more, to be precise), and the price shot up, then crashed.
We mostly didn't move the decimal place. I think because it wouldn't have made sense. We had only recently reached dollar parity, giving Bitcoin that crucial credibility boost. It wouldn't make sense to hide that by referring to everything with mBTC which would then be worth about $.001. Now, however, things are different. We've reached $100, and I think perception is one reason we're sort of stuck there. If we go to mBTC now they would be worth $0.10 each approx, which is easy to comprehend.
I think we need to push the exchanges to do this. If they do so everyone else will follow.
So that's what M-Day was referring to! Ha ha!
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