Post
Topic
Board Economics
Re: mBTC for more stability
by
empoweoqwj
on 07/12/2013, 04:22:26 UTC
I think the switch to mBTC contributed to the BTC price crash.

I think the switch is confusing, unnecessary, and stupid. Most people aren't good at maths. They've heard of bitcoin, heard the price is going up and up, and then go to a site displaying the (m)btc price and see "$0.80 per mBTC'.

Any switch to mBTC should have been (a) agreed by the community and (b) implemented with an education program.

This adhoc approach  where some sites switch and others don't just leads to confusion.

Whether it contributed to the crash in the last 24 hrs or it was pure coincidence, who knows. What I do know is I don't believe in coincidence  Wink

I also know that the bitcoin price was still doing great at "over $1000 a coin", people were still buying ........ mBTC is a damaging solution. to a non-existent problem.