Post
Topic
Board Bitcoin Discussion
Re: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE
by
frente
on 03/05/2014, 13:24:50 UTC
Why can't we just rename 100 satoshis as 1 bitcoin?

This is the best solution to me also.

1 BTC = 100 satoshis (instead of 100M)
1 current BTC becomes 1 MBTC (megabitcoin) if needed in the adjustment period.

Exchanges might use rate for 1.000 BTC (1kBTC) = $0.444 or 1 MBTC = $444

What do you think about that? We can continue to use the existing name (bitcoin) and symbol.

1 coffee = 9,123 bitcoins


I don't see the need to introduce new names/symbols like bits. People will quickly adopt to the new meaning (value) of bitcoin.