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Showing 2 of 2 results by Porch
So stop dreaming of BTCs and join the show using mBTCs. Believe me, it will be more than enough too.
No thanks. Even if I screwed up and didn't buy any bitcoins when I found out about them a couple years ago, they'll always be BTC to me.
We've been using the BTC denomination for so long now; it's what people recognize. Changing to mBTC or Bits or anything like that will just confuse people even more. Start pushing mBTC now and people will think it's an altcoin...And that's the main point. Coin is very unfortunate term from psychological POV. Usually people have the Coin term associated with lowest partition referring to money. But in case of BTC it is quite the opposite. The Coin here is actually the highest unit you can get. The Note term would be much better for masses to understand, e.g. BitNote. However, I don't blame Satoshi for this. But the thing is, if BTC is supposed to be widespread and used by regular people, it needs to be explained to them it can be split. Vast majority of trades would be in much smaller BTC units in the future. BTW it somehow reminds me one episode of The Simpsons, where Mr.Burns owned $1 trillion bank note. BTC is similar to that.
This is a good point. I think at it's inception the "coin" seemed like an appropriate term, as it explained itself fairly obviously. Now with it's value going up, it's harder to understand. Although a gold coin was split into pieces of 8 if i'm remembering right. hopefully when bitcoin becomes more mainstream, it will be better understood by the masses. Unless we follow the current trend of people's financial ignorance
Inspiring. I was looking into BTC about 3 months ago, and decided to try robinhood instead. Minor gains, but bigger losses. I'm going into this with an amount I'm more comfortable losing, and I'm going to try to be less emotional this time. I need to be better at holding through minor dips and not panicking. Wish me luck!