Post
Topic
Board Bitcoin Discussion
Re: When quoting small amounts of bitcoin, how do you call 100 satoshis?
by
KingOfTrolls
on 19/10/2014, 07:25:30 UTC
You do realize that if I talk about “100 mBTC µBTC” I've effectively MOVED the decimal place, right? Do you really think I would pronounce this “Oh point oh oh oh one bitcoins” when it clearly can be read “One hundred mikes”? (using “mike” as an abbreviation because obviously the word “microbitcoins” is too long)

Fixed that for you.

To understand the meaning of "µBTC" one has to understand the meaning of "BTC" first.
However, the whole point of moving the decimal (as far as I understand it) is about finding a setup that allows us to gradually phase out the unit "BTC" entirely. The eventual outcome would be that the term "bitcoin" refers to the currency system as a whole, not a unit.

The underlying problem is that µBTC is — and always will be — a subunit, not the base unit. I can understand that many people want to change the base unit, as it is too large. But I cannot understand why the new base unit should be 100 SAT instead of 1 SAT.