Post
Topic
Board Speculation
Re: how long till 1mBTC = 1USD?
by
teukon
on 01/05/2013, 08:37:51 UTC
That's ridiculous. Clearly Bitcoins are made out of bits&bytes and therefore should be scaled in steps with base 2.
And because some people don't like that, we will use both. Normal metric and base 2 at the same time.
So that 1 Bitcoin = 1000mB, but also = 1024 mB.

I expect those that like binary for the bits&bytes parallel would use the satoshi as their base unit for it's indivisability; bits cannot be truly subdivided.  After all 1 bitcoin is nothing more that 100 million satoshi, an amount selected to give users a more intuitively appealing base unit.  Indeed, amounts stored in the blockchain are stored as integers with 1 being 0.00000001 BTC = 1 satoshi.

The current rate is 1.384 USD / MiSAT, or 0.7225 MiSAT / USD if you prefer.
(where MiSAT ("mebisat") is mebi-satoshi = 1024^2 satoshi)