Post
Topic
Board Bitcoin Discussion
Topic OP
mBTC: At what point should the community use this as the default unit?
by
eklass
on 19/03/2013, 15:52:11 UTC
Given the current trajectory of Bitcoin prices (~$59, at time of writing), it's foreseeable that trying to exchange small goods/services will result in price quotes prefixed by several zeros. For example, a soda machine sells drinks for $1.25 USD. Currently, this is approximately 0.021 BTC. If/when BTC hits $126 USD, the price will be 0.00992. 5 decimal places just to represent the cost of a soda. Or 9.92mBTC, which is arguably much more user-friendly. The problem only worsens as BTC price goes up.

Would it be better for the community to start using mBTC at the default unit sooner rather than later? If not, when do you expect the tipping point will be?