Post
Topic
Board Speculation
Re: how long till 1mBTC = 1USD?
by
bitleif
on 01/05/2013, 09:12:53 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.

Clearly we should be using multiples of 16 to denote smaller values:

1 BTC  = 1 BTC
1 aBTC  = 1/16 BTC = 0.0625 BTC
1 bBTC  = 1/256 BTC = 0.00390625 BTC
1 cBTC  = 1/4096 BTC  etc

Then we can give all prices in hexadecimal:
0x10 cBTC = 1 bBTC
0x100 bBTC = 1 BTC

The price of a cheeseburger is about 0x1f cBTC.