Bitcoin dollar all the way 
Team America, Fuck yeah!
Topic: The Bitcoin Dollar (Read 2004 times)
Each bitcoin has 8 digits after the decimal point.
1.00000000
This was a great idea when bitcoin started and its value relative to fiat currencies was very low. But now with the price of bitcoin reaching close to $1000 USD, it's a good time to introduce a new convention: the Bitcoin Dollar (BTC$), where there is just two digits after the decimal point.
Thus, 1 bitcoin = 1,000,000 Bitcoin Dollars
that is: 1 Bitcoin Dollar = 100 Satoshi
Why? Because people are not used to currencies having 8 digits of resolution. As bitcoin goes mainstream changing it to 2 digits makes it easier for people to deal with it and helps them understand that when they buy 1 bitcoin they are really buying 1 million bitcoin dollars. So rather than looking expensive compared to country backed dollars, it looks inexpensive.
I know we could also call it a micro bitcoin, but using that terminology just makes it sound like you are getting something really small. Also it doesn't give you any idea about how many digits are after the decimal. People already know that a dollar has two digits after the decimal.
Bitcoin clients and sites should allow users the option to view amounts in Bitcoin Dollars. Sites can gauge what percent of users enable this option and if a majority start using it then it could be made the default and viewing amounts in bitcoins being optional.
thanks or the info friend, this adds more knowledge about bitcoin, bitcoin future hopefully more familiar to many people and can be accepted in all countries1.00000000
This was a great idea when bitcoin started and its value relative to fiat currencies was very low. But now with the price of bitcoin reaching close to $1000 USD, it's a good time to introduce a new convention: the Bitcoin Dollar (BTC$), where there is just two digits after the decimal point.
Thus, 1 bitcoin = 1,000,000 Bitcoin Dollars
that is: 1 Bitcoin Dollar = 100 Satoshi
Why? Because people are not used to currencies having 8 digits of resolution. As bitcoin goes mainstream changing it to 2 digits makes it easier for people to deal with it and helps them understand that when they buy 1 bitcoin they are really buying 1 million bitcoin dollars. So rather than looking expensive compared to country backed dollars, it looks inexpensive.
I know we could also call it a micro bitcoin, but using that terminology just makes it sound like you are getting something really small. Also it doesn't give you any idea about how many digits are after the decimal. People already know that a dollar has two digits after the decimal.
Bitcoin clients and sites should allow users the option to view amounts in Bitcoin Dollars. Sites can gauge what percent of users enable this option and if a majority start using it then it could be made the default and viewing amounts in bitcoins being optional.
a) This thread is 6 months old, did it really need to be bumped when there's already a recent topic about coinbase?
b) Naming it dollar is a terrible idea and I've posted before to explain why:
b) Naming it dollar is a terrible idea and I've posted before to explain why:
The problem with this idea is that there are plenty of places in the world where dollars (or anything else with connotations to the US for that matter) are not viewed in the most positive light (to put it mildly). While I'm sure it would make sense for people in Western countries, we have to remember that bitcoin is a global currency. It's understandable that most of us in the English speaking part of the forum will have a western-centric outlook of the world and it's easy to forget that people in other places will have radically different views. Bitcoin at it's core is a neutral and unbiased algorithm, so we should stick with new and neutral denominations.
Use of the word 'dollar' makes things more ambiguous in my opinion. The term bits is already being adopted by users and bitcoin businesses (coinbase, bitpay, etc).
Not to mention that bits are usually very good things - bacon bits, naughty bits... BTC bits. Done.
Actually the word 'dollar' is derived from the Dutch word 'daalder' which is derived from the German word 'thaler'.
http://en.wiktionary.org/wiki/dollar
To really make it American, you'd have to call it a bitbuck
http://en.wiktionary.org/wiki/dollar
To really make it American, you'd have to call it a bitbuck
Bitcoin dollar all the way
Team America, Fuck yeah!bitdollar? wait will there be a biteuro bityen then?
Lmao
thats what i was thinking , Slippery slope indeed
I like bits and mbits. I am sure over time a standard will emerge.
Bitcoin dollar all the way
Team America, Fuck yeah! 
so many names for the same amount of bitcoins.
i really hope a consensus can be reached, as long as it's not bit. (and bitcoin dollar is a pretty terrible name as well)
i really hope a consensus can be reached, as long as it's not bit. (and bitcoin dollar is a pretty terrible name as well)
and bitcoins is 8 letters long (think decimals of a bitcoin)
bit is 3 letters long
00000100
(pre-empting a rebuttle)
better then zib.. zib has no relation to bitcoin and sounds foreign
bit is atleast part of a bitcoin.. literally and financially.
let me guess you want 100sat to be called a bitcoin. so you can shout to the world you finally have 10 bitcoins.. while the world laughs back at you and say you only have a dollar in reality. thats like calling a ounce gold coin, a tonne of gold.
all of these discussions and more can b read over 100 different threads as of autumn 2013.. its now boring, th majority that bothered to vote prefer bit, and many service providers are already rolling with it..
...moving on with our lives
so many names for the same amount of bitcoins.
i really hope a consensus can be reached, as long as it's not bit. (and bitcoin dollar is a pretty terrible name as well)
i really hope a consensus can be reached, as long as it's not bit. (and bitcoin dollar is a pretty terrible name as well)
Bitcoin dollar all the way
bitdollar? wait will there be a biteuro bityen then?
Paying for things in such big amounts might be confusing at first, but people will get used to it. I think people will still just pay for stuff with the fiat value anyway so it'll avoid most confusion.
Oh god please let this madness stop
A BitDollar?
People shouldn't be getting confused as they can see the prices/balance in wallets in dollars or euro.
So really, they can go with what they are used to.
I don't understand why that is confusing to some people.
If you want to buy $20 worth of BTC then that's what you will get.
If you want to buy a product that is $20 worth of BTC, that is what you will pay.
People shouldn't be getting confused as they can see the prices/balance in wallets in dollars or euro.
So really, they can go with what they are used to.
I don't understand why that is confusing to some people.
If you want to buy $20 worth of BTC then that's what you will get.
If you want to buy a product that is $20 worth of BTC, that is what you will pay.
Good to see that Coinbase is now allowing prices to be shown with just 2 decimals. They are calling the new unit "bits". A bit confusing, but I like it better than micro-bitcoin. Maybe people will start calling this unit the bit dollar and sathoshis would be bit cents.
http://www.coindesk.com/coinbase-announces-pricing-bits-bitcoin-buyback-option/
http://www.coindesk.com/coinbase-announces-pricing-bits-bitcoin-buyback-option/
I like bits, as previously mentioned it was historically used to refer to 1/8th of a Spanish Dollar ... because they were easy to split into eight pieces (another term was "pieces of eight").
http://en.wikipedia.org/wiki/Bit_%28money%29
http://en.wikipedia.org/wiki/Bit_%28money%29
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