Quote from: Theb on August 07, 2018, 06:20:38 AM

Quote from: turtletime on August 07, 2018, 01:40:08 AM

The general population would rather deal with a currency that is somewhat close to the USD or Euro value. Why are we still talking in terms of 0.000653 btc when we should be using mbtc more and eventually talking in satoshi once bitcoin reaches 500k levels.

This is why Satoshi gave bitcoin so many decimal places.

With the example you have given we are still in the position of using decimal places as .000653 BTC is equal to 0.653 mBTC, it really does not come any close to the dollar value you are hoping since 1 mBTC is equal to .001 BTC or 1/1000 of a Bitcoin. I also don't think that coming close to the Dollar or Euro value is a prevalent problem here for the general population as switching back and forth from BTC, mBTC, or even uBTC will be a much more greater problem as what BTCforJoe mentioned it will cause a lot of confusion when it comes to payments for them. BTC is still new and a lot of newbies don't know the other two denominations I have mentioned.

Sticking up to the BTC value which has 8 decimal places is what a lot of people are used to, I was confused at first but then I tried reading the values from the start of the number after all the zeroes and thinking it as a whole number at that point on reading BTC values was an easy thing for me to do. Also in my own opinion this is not our problem to solve, if this became an issue the government could easily set a standard on what denomination will their country use when it comes to cryptocurrency payments and the transition will be easy if that happens.

I quite agree with posts quoted, speaking about mBTC or BTC is not a big issue.

There's a question related to this thread but I'm quite confused about the answer i.e. about the 8 decimal places rule.
What if in 20 years thanks to a big increase of BTC valued they will not be enough (let's dream a 20,000,000 $/BTC or even more Cheesy

) ?
Lurking around this forum I've sensed it's not possible to add new decimal places, is that right ?