Which unit we should use, mBTC or satoshi?

pooya87

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Quote from: Crypto Girl on October 09, 2018, 12:13:30 AM

A little bit off topic. Since I see some that use sats to refer eth decimals which should be a gwei.

[snipped]

after all this time, i thought there are 8 decimal places for ETH just like majority of altcoins! apparently i was wrong, now i learned something new. there are 18 decimal places after it. 1 ETH = 10^-18 ETH. it is very strange though since unlike bitcoin, ethereum has unlimited supply!

Crypto Girl

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A little bit off topic. Since I see some that use sats to refer eth decimals which should be a gwei.

Kakmakr

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When topics like this pop up, it reminds me of the Zimbabwean 100 Trillion Dollar bills. How did the Zimbabwean people cope with values like that. Just imagine giving someone change for a 100 Trillion Dollar bill, when they bought something small. Roll Eyes

If we expect that the value of Bitcoin would drastically increase in the future, then we should stay with Satoshi's. In any way, people hardly ever pronounce the amount verbally, they just show the total on the phone. Cool

Velkro

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I would say satoshi because its simpliest and most similiar to FIAT money.
But, there are some uses cases that its not working THAT good.

Crypto Girl

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Quote from: pooya87 on October 05, 2018, 11:37:44 PM

my opinion is that it depends on the size. if it is too small (like 5000 for example) i use satoshi. if it is too big like (100k) then i prefer using the big unit BTC (0.001BTC). i still don't care for mBTC and uBTC. and definitely not bits.

This is sooo me. Tbh, I really see mBTC hard to use like I'm still confuse when I see those so yeah like what I quoted I'm using satoshis in small unit and 0.000btc on big amount and I'm more comfortable with it.

I'm surprised for having this such topic like surely, this isn't a big deal.

pooya87

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the units are defined (as you can see from the link posted by @ralle14) but there is no standard for which one we should use and also there isn't any consensus about it either. everyone prefers a different unit. some prefer using mBTC and uBTC but some others prefer using satoshi, some prefer using bits and some others don't care at all and stick to bitcoin (BTC) as the unit they should use.

my opinion is that it depends on the size. if it is too small (like 5000 for example) i use satoshi. if it is too big like (100k) then i prefer using the big unit BTC (0.001BTC). i still don't care for mBTC and uBTC. and definitely not bits.

pixie85

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Quote from: ngodinhvietb on October 02, 2018, 02:12:36 AM

not sure but this is the first time I have heard about mBTC, I think satoshi is more popular unit and you should use this. This is the smallest unit of BTC

Then you should download an electrum wallet onto your phone. It uses mbtc by default. Really, mbtc is very popular because it allows you for much easier small payments that normally would require you to type in 0.0002 or something similar each time you're sending money.
I think that Bitcoin is still not valuable enough for ust to have to use satoshis but it may be one day.

frchowe214

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We should continue to use what everyone is already familiar with. When you say this coin costs 3503 sats regular crypto dudes will know what that means. When changing the terminology, it is difficult to figure it out and to describe it

btc-facebook

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IMO, it will be easier for newbie to use satoshi as basic value.
From time to time, using mbtc is recommended because most website like gambling and expert prefer to use them.

Just make it habit and you will see no problem at all

retprogramisto

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Bitcoin is still OK in my opinion. E.g. $10 is currently 0.0015 BTC and it is still an easy to understand number. When bitcoin price increases to $20k+ mBTC could be used.

BitMaxz

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For me, "sat" would be fine because you can easily say it, for example, "0.00100000" in BTC you can call it "100ksat" or "0.00001" in BTC you can call it "1ksat" it's easy to say compared to other units.

Honestly, we can use all units and it depends on us if how do we use it but like the other said I prefer "sat" as a default unit.

Alluro

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Satoshi is the smallest unit of BTC. I think Satoshi is more popular than mBTC. Because most traders use Satoshi count their profits and targets. I never heard about mBTC using by trades.

mk4

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I had a similar post in the past(not sure if here on bitcointalk or bitcoincom). Most of the replies I had was that we should use mBTC or "millibitcoin" instead. I don't think it sounds natural though. I prefer "sats" personally. So hopefully one day we would transact in person by saying "5 sats" or something similar.

Also, a good number of replies on my topic are saying that the unit doesn't need to sound "natural" as you're just going to scan QR codes on screens anyway. Somewhat true, but not everyone lives in a first world country. When going to small stores on 3rd world countries, we still verbally communicate the price.

LTU_btc

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Well, Satoshi unit is much more popular mBTC, so I think it would better to use Satoshi unit. And I think it's more convenient to use Satoshi because it has more decimals, so it's better for small amounts of BTC. For example, I have no idea how much mBTC is 0.00000001 BTC, while everyone knows that's 1 Satoshi. Honestly, I don't even know how much is 1 mBTC, because I'm not using this unit. I only see mBTC used in some bitcoin betting websites, while all other websites using Satoshi, or just 0.xxxxxxxxx BTC

ralle14

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Doesn't matter which one you should use because both of them are used by many people. Tbh, you've already answered the question yourself by saying you prefer satoshi over the other. 1mbtc or 100,000 satoshis either way those two are correct but saying 1mbtc would be easier though.

https://en.bitcoin.it/wiki/Units

Quote from: crairezx20 on October 02, 2018, 02:35:55 AM

The Satoshi is just used for the smallest unit because past few years ago we can claim small satoshi's in some faucet site so this is commonly used.

Also it's still used until now to determine how much miner fee is needed for a Bitcoin transaction (satoshis/byte).

boyptc

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This depends on what you really prefer, there's no problem if you want to use satoshi's, mBTC or BTC.

Most of the merchants are using the unit decimals + BTC.

crairezx20

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Why not use all unit names to easily speak the amount of BTC.

Look at this small chart.

you can use Sat; uBTC; mBTC; cBTC; BTC and kBTC for largest amount of BTC

The Satoshi is just used for the smallest unit. Past years ago I'm a faucet claimer before which we can claim small satoshi's in some faucet site and this is commonly used.

However, we can use the other unit name to easily speak the amount of BTC.

ngodinhvietb

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not sure but this is the first time I have heard about mBTC, I think satoshi is more popular unit and you should use this. This is the smallest unit of BTC

Dilireba

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As you know that when Bitcoin has too high price, it is quite inconvenient to speak small amount of BTC. How to speak 0.00005 BTC? long and confused, people think of using replace name for micro amount of BTC. The most common today are Satoshi and mBTC. I prefer Satoshi because it is the smallest unit of Bitcoin, BTC has 8 decimals, 1Satoshi = 0.00000001 BTC. Satoshi can display the smallest unit of Bitcoin and it can be mass adopted, it also remind us about father of Bitcoin - Satoshi Nakamoto. I don't like mBTC because it's still big (1mBTC = 0.001BTC ~ 6.6USD), if we buy a burger king for $4, the price in mbtc is 0.6mbtc. Oh, it's still have decimals, it's hard to calculate and convert. If using satoshi we will have integer, no more decimal, much more convenient, easy to understand and homogeneous. So think we should ban mBTC unit and use only Satoshi unit.

Topic: Which unit we should use, mBTC or satoshi? (Read 266 times)