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    Author Topic: We need to convert Bitcoins to new units...  (Read 3065 times)

    • harrymmmm
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    January 31, 2016, 11:09:35 PM
     #61
    Quote from: aubert on January 24, 2016, 02:26:37 AM
    you just need to know if there's exist mBTC and uBTC , 1 mBTC = 0,001 and uBTC = 100satoshi if I'm not mistaken ,this really help a lot for few sites

    Of course this is the obvious set of units to use.

    Take a price in bitcoin:
    move the decimal point 3 spaces to the right and you have the price in millibitcoins (mBTC)
    move the decimal point another 3 spaces to the right and you have the price in microbitcoins (uBTC)
    move another 2 decimal points to the right and you have satoshis

    For some strange reason some people like to call a uBTC a 'bit', but there's really no need to add that new unit at all.

  • btcprospecter
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    January 31, 2016, 11:16:29 PM
     #62
    I don't really understand why we keep comparing bitcoin to fiat? In all honesty we all want bitcoin to stand on its own aside from fiat, spend it like it was fiat. I can see your point of how it does get confusing as we always try to rationalise how much something costs in real money. 0.00whatever works for me. If anything add more.

  • ShrykeZ
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    February 01, 2016, 12:27:32 AM
     #63
    Satoshi's is my preferred unit of measurement for anything after the decimal point pretty much, much less confusing.

  • sandal
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    February 01, 2016, 12:59:13 AM
     #64
    I don't even know what a satoshi is tbh and I've been in the bitcoin game for years now...

  • kevin go
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    February 01, 2016, 06:03:58 AM
     #65
    i think converting also not a best way..by saying satoshi is more easy to understand or maybe we can use mbtc or ubtc it will help..

  • plorph
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    February 01, 2016, 06:10:13 AM
     #66
    This is simple and already discussed. You don't actually change anything, you just denote them differently. Currently I think the optimum unit is mBTC, or milibits (0.001) and is the primary unit on many if not most online bitcoin services.
    puh-lorph

  • naidray
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    February 01, 2016, 12:23:42 PM
     #67
    Quote from: kevin go on February 01, 2016, 06:03:58 AM
    i think converting also not a best way..by saying satoshi is more easy to understand or maybe we can use mbtc or ubtc it will help..

    You are right. In number system itself we have different notations (like hundred, thousand, million and billion), we must need different notations (BTC, mBTC, uBTC, satoshi and bits) for bitcoin system also.

    Based on the volume we transact, we can choose an appropriate notation which has minimum zeros.

  • ShakinHandz
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    February 01, 2016, 12:26:13 PM
     #68
    Quote from: virtualdn on January 23, 2016, 11:54:09 PM
    Paying 0.000001 or 0.000035 is just impossible to remember and use... nobody will use that in the future if we want it mainstream.
    I know satoshi exists as smallest unit but they are quite hard to remember.
    When someone says 10,000 satoshi I try to think how much is that while 1 BTC is easy to understand.
    So maybe we should have new bitcoins to keep the name where 1 new bitcoin = 0.0001 old bitcoins to make it easier to use...
    share your thoughts.

    Bad Idea , there already exist a concept of mBTC and umBTC , so why to make new standards and confuse people.

  • blackraven1425
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    February 01, 2016, 12:56:29 PM
     #69
    I don't understand the reason of this discussion, since we already have satoshis, which is a pretty small unit to be used... Most wallets have the option to use this unit instead of BTC...

  • jyakulis
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    February 01, 2016, 12:58:14 PM
     #70
    I disagree. What about in a couple years and the value has changed. Are we going to change it again?

    I agree it's somewhat awkward now.

  • thejaytiesto
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    February 01, 2016, 01:29:10 PM
     #71
    Quote from: Amph on January 24, 2016, 08:38:38 AM
    the best way is to remember them in satoshi directly, so don't say 0.0001 but 10k satoshi, don't say 0.0000035 but 350 satoshi and so on, much easy to remember

    But satoshi is way too small. Satoshi works good for micropayments, but for example right now 40 dollars is about 0.1 BTC, so that's 0.10000000 or 10000k, not very intuitive since 40 dollars could be the price of doing some groceries.

    Of course changing it is stupid, we will just have to deal with it and come up with mBTC or something.

  • Amph
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    February 01, 2016, 03:37:45 PM
     #72
    Quote from: thejaytiesto on February 01, 2016, 01:29:10 PM
    Quote from: Amph on January 24, 2016, 08:38:38 AM
    the best way is to remember them in satoshi directly, so don't say 0.0001 but 10k satoshi, don't say 0.0000035 but 350 satoshi and so on, much easy to remember

    But satoshi is way too small. Satoshi works good for micropayments, but for example right now 40 dollars is about 0.1 BTC, so that's 0.10000000 or 10000k, not very intuitive since 40 dollars could be the price of doing some groceries.

    Of course changing it is stupid, we will just have to deal with it and come up with mBTC or something.

    than remember it in bits, it's the same, my point is to not use prefix for the smallest unit of bitcoin

  • praprata
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    February 01, 2016, 04:05:25 PM
     #73
    That may indeed be a possibility. But I guess that's not going to happen so soon clear.
    That is unrealistic. There may well be another unit.

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  • elizabethqueen
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    February 09, 2016, 02:23:46 AM
     #74
    Quote from: virtualdn on January 23, 2016, 11:54:09 PM
    Paying 0.000001 or 0.000035 is just impossible to remember and use... nobody will use that in the future if we want it mainstream.
    I know satoshi exists as smallest unit but they are quite hard to remember.
    When someone says 10,000 satoshi I try to think how much is that while 1 BTC is easy to understand.
    So maybe we should have new bitcoins to keep the name where 1 new bitcoin = 0.0001 old bitcoins to make it easier to use...
    share your thoughts.
    i dont think there was some goods or service that have price between 0.000001 or 0.000035,i believe in future goods and service price will blow up,not that cheap,and we can't put bitcoin payment on small transaction,not that small i mean.
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