it was always difficult for us to get to read to all decimal points in that situation i have wondered if we had different denominations for bitcoin.1 mbtc=1/1000 of bitcoin is still no where near a dollar;unless our btc rate should be so high.
The value in fiat currency should bear no value to how we classify and name fractional bitcoins, as the fiat-to-btc value is forever fluctuating.
However, using it as a relevant narrative, imo, is important. mBTC is a bit confusing, as it is worth a thousandth of a Bitcoin, while most people (at least in Western countries) are used to currency being broken down into hundredths (dollars and cents). The challenge is the gap between a mBit and a Satoshi. One day, I believe that we will be referring to Satoshis as a popular reference of value as the BTC value increases... For example, "
Hey Bob, did you get my payment of 850 Satoshi for the lunch you bought me?".
But what about the gap between Satoshis and mBTC? 1mBTC = 100,000sat. I think it would be weird to reference satoshis to the 100,000 mark before starting to call it m-bits... "
Hey Bob, I sent you 85,550 satoshi for selling me the bike. Thanks!"
At the end of the day, this just emphasizes the misconception that Bitcoin is not user-friendly, and I tend to agree... Explaining to people that they don't need to buy a whole bitcoin to get their skin the game gets tricky when you have to say things like "
Hey Bob, you don't need to buy a whole bitcoin! You can start by buying $10 at a time. Then you'll get zero point zero zero one four bitcoin!", but then I always get a look of bewilderment.
So there's that. What to do? lol