Quote from: bryant.coleman on August 29, 2019, 01:33:54 AM

Quote from: deisik on August 27, 2019, 02:25:49 PM

Quote from: bryant.coleman on August 27, 2019, 01:49:40 AM

Now coming to the units, one Bitcoin is being subdivided in to 100 million Satoshis. There is nothing in between. mBTC is an informal unit, and it doesn't have a name of its own. A few names were suggested for mBTC, but there was no consensus. And we need smaller units badly now, as the exchange rates have surged past the $10,000 per coin level. Even mBTC may be too big for practical purposes now

Personally, I don't feel like we need these subunits as anything less than a few thousand satoshi (otherwise known as dust) is not collectible anyway

Well.. I was saying that we don't need finer subunits, but we need coarser ones. Right now the transaction fee is in the vicinity of BTC0.0001, so I agree that amounts lower than that are not practical to collect. What I was saying was, suppose if we want to pay for coffee at Barista, then the bill may come to BTC0.0005 or something like that. It is not very convenient to use so many decimal places. If we use mBTC instead of BTC, then it will come to 0.5 mBTC, which is more easier to calculate

This will only add to confusion

Right now paying for a cup of coffee with Bitcoin is not worth it as you will have to pay insane fees which would be quite comparable to the price of that coffee (if not exceed it). But if Lightning Network gets widespread adoption in this field (and Bitcoin price multiplies), then a few dozen satoshi should be a common price for such things. Thus there is no need for these subunits. They will only confuse people

Quote from: bryant.coleman on August 29, 2019, 01:33:54 AM

1 Bitcoin = 1,000 Theymos = 100,000,000 Satoshi

Theymos may not be happy at all. If anything, 1000 bitcoins should be equal to 1 theymos