Re: WHY 21 MILLION BITCOIN CANNOT SERVE THE WHOLE WORLD
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
Theymos may not be happy at all. If anything, 1000 bitcoins should be equal to 1 theymos
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
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
Yes... fee is a big concern. I still remember the transactions from December 2017, when I was forced to pay almost $50 as the transaction fee. I had the misfortune of doing quite a few transactions when the tx fee was at its peak. Imagine paying for a cup of coffee with Bitcoin at that time. If the coffee costs $3, you need to pay a total of $53 (including the transaction fee) and then wait for 1-2 hours to get the transaction confirmed.
If you keep the prices in Satoshi, then a cup of coffee having a price of $3 (BTC0.0003) would be priced as 30,000 Satoshis. A pizza can cost a few hundred thousand Satoshis. It is still convenient to use Satoshis than Bitcoin (with 4 decimal places). Perhaps you are right. We should stick to Satoshi instead of mBTC.
BTW, Theymos should be happy. Under the current plan, 1 Theymos = 100,000 Satoshi.
