Re: [Bitcoin-development] moving the default display to mbtc

["Jorge Timón" <jtimon@monetize.io>]

On 3/13/14, Troy Benjegerdes <hozer@hozed.org> wrote:
> <cynic hat: on>
>
> Every volatility bump messes up expectations of what a bitcoin is worth,
> so why are we bikeshedding uBTC vs mBTC? Just be done with it and do mBTC
> now, and plan uBTC for just after the next price spike to $10KUSD or
> whatever,
> and then plan on rolling back to mBTC when the price crashes from altcoin
> money supply inflation competition.

No, even if bitcoin crashes to 1 usd you don't need to change back to
BTC, you can keep the existing-accounting-tools friendly micro. That's
the whole point, having "one true only unit change". You would only
need to change it if there was a sub-satoshi hardfork, which doesn't
seem necessary anytime soon.

On 3/13/14, Mike Hearn <mike@plan99.net> wrote:
> I think it is highly optimistic to assume we'll need another 1000x shift
> any time soon. By now Bitcoin isn't obscure anymore. Lots of people have
> heard about it. Getting from $1 to $1000 was amazing, but it was possible
> through huge media coverage. Getting from $1000 to $1,000,000 would take
> massive adoption of the kind Bitcoin isn't ready for yet.

We shouldn't make any assumptions about the future price of bitcoin to
make the decision.

On 3/13/14, Mike Hearn <mike@plan99.net> wrote:
>>
>> Even if a cup of coffee costs 3.12345 mBTC, that's a lot more annoying
>> than 3123.45 uBTC.
>>
>
> This is subjective though. To me the first price looks like the price of a
> cup of coffee (or I just mentally double it). The second looks like the
> price of an expensive holiday.

This sounds very US-centric to me. Aren't you thinking in usd?

It won't look like an expensive holiday to, say, someone used to Viet
Nam Dong (VND), Uzbekistani Som (UZS) or Mongolian Tugrik (MNT).

http://coinmill.com/BTC_calculator.html#BTC= 0.00312345


"People seem to like mBTC" is just an ad populum fallacy: millions of
flies can actually be wrong. Also you haven't showed them micros,
maybe they like it too.

So the only valid argument I've heard in favor of mBTC so far is "some
wallets/services are doing it wrong already".