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Bitcoinity switches to mBTC
- TomGullen 13y agoI'm not particularly enthusiastic for the mBTC proposal but on the other hand I don't see it doing any harm.
- jypepin 13y agoHaving bought some BTC at lower prices, talking about BTC prices is something really exciting for me since it means money, but I think that mBTC rates is better, because I keep hearing more and more people saying or thinking that they can't afford BTC anymore now it's over $1000. Talking about buying a few mBTC for ~$1 each sounds way more attractive than buying 0.001 BTC, which feels like buying something worthless. So I think it's a good thing for BTC to continue to become more mainstream!
- etherael 13y agoI guess it will sound more stable this way, too. 1000 to 2000 or even 10,000 sounds like a much more sizeable jump than 1 to 2 or 10. Also helps overcome unit bias.
- dwaltrip 13y agoIt is amazing how powerful these cognitive biases can be.
- polarix 13y agoPredictions on switching to uBTC?
- TheRubyist 13y agoCan we say that mBTC is some kind of devaluation tool to fight with inflation process which participants of the system are trying to build ?
- snitko 13y agoDo you even understand what inflation is?
- TheRubyist 13y agoI understand benefits of devaluation if there is a hyper inflation. There is no authoity that could really devaluate bitcoin price, but we could try to devaluate peception of unit here.
- colanderman 13y ago…except BitCoin isn't experiencing inflation. It's experiencing deflation. (Inflation is when the value of a currency decreases, causing the price of goods in that currency to increase or inflate.)
- greyfade 13y agoThink of it rather as redenomination. There has been no change in value. We're just talking about it with smaller numbers.
- logical42 13y agoOtherwise known as the 1000-1 split.