Post
Topic
Board Speculation
Re: Bitcoin needs to do a "stock split" and add new (sub)names
by
600watt
on 08/04/2013, 07:57:43 UTC
I always ask anyone I'm talking with whether they've heard of bitcoins. 99% of the time the answer is no (and I mix with some clued up people). Within a minute most of them are intrigued. But now when they hear that the price is ~$150+ their response is, "Oh it's too high. It's risen too fast, too quickly." If however, the price was $1.50 or even $15+ they would probably jump in and spend just as much money. It's a psychological thing, like buying a thousand penny stocks vs spending $600 on a single share of Google. I think the bitcoin powers that be, need to think about naming the equivalent dimes, nickels and pennies of the BTC world so that newcomers aren't faced with sticker shock. One of the most common newbie misunderstandings is that bitcoins aren't divisible and a well presented naming convention would really help. Just my ever humble opinion, but what do others think? Do those names exist already?

you are absolutly correct about this matter. mbtc, so called millibitcoins are the answer. 1 btc = 1000 mbtc. its a language thing. the community must start to use mbtc instead of btc. and the entire game starts another cycle. btc are expensive now, that is an psychological obstacle for the people who want to join in. bitcoin (better: mbtc) is the first currency that is deflationary and inflationary at the same time. got to love it.
if mbtc is accepted, those with btc will become incredibly wealthy. we have all steaks in this game. please folks, play it right!