Why I'm switching to mXBT — and why you should too - page 6.

michaelmclees

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Quote from: dree12 on May 06, 2013, 11:01:39 PM

Quote from: BitcoinBarrel on May 06, 2013, 10:59:39 PM

100 years ago a quarter would get you a gallon of milk.

100 years ago things were sold in pennies.

I won't value pennies until I can easily have 1 whole dollar. That's what this debate boils down to. Let's just get it over with and convert to the Satoshi. How much is the combo #4? 8.85 million Satoshis.

Matthew N. Wright

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Hero VIP ultra official trusted super staff puppet

Quote from: Jocky on May 07, 2013, 07:01:53 AM

I do not fully agree, we should be careful with making changes to Bitcoin. Entrepreneurs are still hesitant about accepting Bitcoin, but they are doing it. Why change a good thing? Maybe if we keep the exchange rate around 100 USD for a couple of months, we can try something. I can imagine the headlines, it will look like a trick Bitcoiners are playing to give new victims of our 'scheme' the ability to buy more.

The more I read about this topic, the more I get the feeling this initiative is less about making things simpler (it actually makes it much more complicated), and more about trying to influence the market rates in the favor of those holding bitcoins. This might be just an attempted Bear Toss in disguise.

Jocky

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I do not fully agree, we should be careful with making changes to Bitcoin. Entrepreneurs are still hesitant about accepting Bitcoin, but they are doing it. Why change a good thing? Maybe if we keep the exchange rate around 100 USD for a couple of months, we can try something. I can imagine the headlines, it will look like a trick Bitcoiners are playing to give new victims of our 'scheme' the ability to buy more.

Koekiemonster

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Bitbuy.nl!

Quote from: Birdy on May 06, 2013, 08:37:18 PM

Quote from: Elwar on May 06, 2013, 08:23:12 PM

Millies have been agreed upon for millibitcoins and Mickeys for microbitcoins.

Mickeys sound like we are promoting Mickey Mouse.

In a few decades they'll say: "Mickey Mouse, that sure sounds like they are promoting Bitcoin!"

Technomage

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Affordable Physical Bitcoins - Denarium.com

The issue right now, as I see it, is wallet support. Which wallets support a mBTC balance? Bitcoin-Qt does, but which others? Personally I think that implementing the option to show a mBTC balance is a top priority.

Matthew N. Wright

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What's wrong with using "Bitcents"? There's not really anything of value purchasable for less than 0.01 BTC right now, and I don't think disguising the fact that bitcoin is divisible will have the psychological effect people think it will. It's much more likely that people will be amazed that they can afford to buy something of value with only 10 bitcents.

Bitcoinm

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I could see myself getting used to this.

Aswan

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Quote from: Brushan on May 07, 2013, 02:14:11 AM

Or bitmills? I think it's very easy to pronounce.

This, I have used and will use this

But I usually leave the plural and only use "bitmill"... like "That wooden chair is 200 bitmill"

Bitcoinpro

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what about MiB Cheesy

Technomage

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Affordable Physical Bitcoins - Denarium.com

I fully support this. My Bitcoin-Qt balance is in mBTC already.

adamas

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VIS ET LIBERTAS

Quote from: AMuppInTime on May 07, 2013, 03:27:46 AM

guys - what happens in 20 years when the mB is too expensive again?

I suppose you are quite young. Believe me, in 20 years you'll have other worries than BTC decimals.

gogxmagog

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Ad maiora!

when they introduced the 1$ coin in canada, people began calling them loonies because there is a picture of a loon (marine bird) on the reverse of each coin. many people thought this was silly/irreverent/unacceptable, but the nickname persists to this day. micky is ok imo cuz people will remember it and feel a sort of affinity for it as it is already associated with a common nmonic. basically whatever people start calling it = its name, but since we can steer this, millies and mickies are ok with me. it anthromorphosises it a bit, which makes it human in people's minds, which can only be good. and yes, more transactions should be in mBTC, if the exchanges would adopt this we'd be all set.

melvster

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Quote from: pa on May 06, 2013, 08:21:32 PM

I agree. Switching to mɃ from now on. I suggest we just call these "millibits," which is easier to say than "millibitcoin".

(I finally figured out how to type the "B with bar" character in OS X Mountain Lion--need to go to System Preferences/Language & Text/Input Sources. Then scroll down and select "Unicode Hex Input" and select "show input menu in menu bar." Then go to the input menu selector icon in the menu bar, choose Unicode, and hold down the Option/Alt key while typing "0243".)

+1 millibits

AMuppInTime

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guys - what happens in 20 years when the mB is too expensive again?

I see no reason not to move down to the Satoshi - we will actually see prices fall down. Think of the psychological effect:
"You TOO can be a Satoshi Millionaire!". Add to that Satoshi's story as hook, and the transition from BTC to SC is simple, adding pseudo wealth all around.

wumpus

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No Maps for These Territories

Quote from: mc_lovin on May 07, 2013, 02:14:47 AM

+1

We can't aim to go down into the decimal places like we used to.

When BTC price climbs to reality, "worldwide adoption", soon the $5 notes in your wallet are useless too.

By the time that is true, the limit will be lowered. Going even further there will need to be a hardfork to make smaller subdivisions than a Satoshi possible. But that's not the point of this thread. Baby steps first.

mc_lovin

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www.bitcointrading.com

Quote from: jubalix on May 07, 2013, 01:39:40 AM

I fully agree with this post!

but note we are in the process of psuedo banning 54uBit transactions

thus 1mBit = new, then nothing less than 54/1000 of this can be spent.

so by comparison, my 5 cents are worthless/unusable in my 100$ notes

so the sell will be you can but you can spend this portion of it "war?"

although I accept some shops stop accepting low denomination coins as well unreal life

+1

We can't aim to go down into the decimal places like we used to.

When BTC price climbs to reality, "worldwide adoption", soon the $5 notes in your wallet are useless too.

Brushan

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Or bitmills? I think it's very easy to pronounce.

adamas

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VIS ET LIBERTAS

Quote from: pa on May 06, 2013, 08:21:32 PM

I agree. Switching to mɃ from now on. I suggest we just call these "millibits," which is easier to say than "millibitcoin".

I also prefer Millibits!

Quote from: Birdy on May 06, 2013, 08:37:18 PM

Mickeys sound like we are promoting Mickey Mouse.

This!

astutiumRob

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Quote from: BitcoinBarrel on May 06, 2013, 10:59:39 PM

100 years ago a quarter would get you a gallon of milk.

3 years ago in the UK 20p could still get you a pint of Milk :p

jubalix

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I fully agree with this post!

but note we are in the process of psuedo banning 54uBit transactions

thus 1mBit = new, then nothing less than 54/1000 of this can be spent.

so by comparison, my 5 cents are worthless/unusable in my 100$ notes

so the sell will be you can but you can spend this portion of it "wat?"

although I accept some shops stop accepting low denomination coins as well in real life

Topic: Why I'm switching to mXBT — and why you should too - page 6. (Read 24707 times)