People don't care about the 2 decimal remaining from uBTC, for the simple reason there is nothing you can buy with, at least for a very long time in the most optimistic scenario.
The conversion is not easy at all, i mean the change is way to radical. We are talking about move 6 decimal point, which is way more than 3 for mBTC.
With mBTC we can provide to BTC a long term "parity" with main currency of the world (EURO, USD, RMB) ... between 800$ to 10 000$ and even more there is not a psychological problem about "bitcoin is so expensive, it's maybe too late to invest in".
To stay on the psychological aspect, uBTC will make look like Bitcoin such as a monkey money, is not a good sign of vitality when you have an currency you buy some thousand for few dollars... Bitcoin is VALUABLE.
There is i think more argument in favor of mBTC but i just don't understand why we are talking about uBTC right now ? Did mtgox reach high time all to 1,000,000$ / BTC and i'm finally rich or what ? yaaaaay.. mBTC is fine, it's just will be perfect at 1000$ with dollars parity, and will be still fine at 10,000$ and more. We need to have something comparable to other currency in the world, for many obv reasons... mBTC we need it so bad.
A case for the microbitcoin (uBTC) satobitcoin (sBTC).
Everyday, there are dozens of post being made about how we need to stop referring to whole Bitcoins and begin using the millibitcoin (mBTC) or microbitcoin (uBTC) as the new standard denomination. Within all of these discussions, you generally have a handful of people advising that we skip past all of them and go straight into using the Satoshi as the new standard unit. Right now, we are on the verge of the millibitcoin reaching parity with the US Dollar. While this will be unquestionably convenient for BTC accepting merchants, the fact remains that at this point, barely any of these merchants are pegging their prices to the Bitcoin, but are instead using USD, EUR, etc and letting the payment processor do the conversion based on the current exchange rate. Therefore, by this logic, it makes little difference what the merchants decide, since they are most likely using Bitcoin has a cheap form of payment processing. The question we should all be asking ourselves is how high do we expect the Bitcoin market cap to climb, before we reach a point of stability, and how long do we anticipate it will take for us to get there. The honest truth is, that none of us can definitively answer this. However, let's assume that Bitcoin has enough growing room to achieve a $100B market cap by sometime in the year 2015. At this point, one Bitcoin will be valued at approximately $6,666.67 USD, which would mean that the millibitcoin will have reached $6.67, whereas the microbit will have yet to reach parity with the US cent. Now, if you are looking at this from an American mindset, you are probably thinking, "Gee! mBTC's are awesome! The market will have to increase another ten fold before we will even need to start considering using anything else." The honest truth is that you are probably right. However, we Americans usually have a hard time accounting the fact that we only make up about 5% of the World's population. Let's see how the uBTC stacks up to a few currencies that are within markets that have potential to deliver serious growth to the Bitcoin economy. At a $100B USD Marketcap (current exchange rates) 1 uBTC would be the equivalent to .09 Mexican Pesos .02 Brazilian Reals .42 Indian Rupees .02 Israeli New Shequel .58 Kenyan Shillings As you can see, compared to other global currencies, the uBTC does not seem nearly as small as it does for us in the US. Now, let's take this to an extreme hypothetical. Let's assume that one day Bitcoin reaches a total market cap of $1 Trillion USD. At this point, the uBTC will be knocking on nearly a .07 USD valuation, and will have surpassed parity of some of the currencies listed above. So what is the right answer? Truth is, there isn't one. The preferred choice of BTC denominations should be a regional decision, and not a global one. I do know that while a $1 Trillion market cap is within the realm of possibility, I do not see it happening by 2015, then again, I could be incredibly wrong. What does need to happen I believe is that developers need to design their products and services, such as wallets and exchanges to be as modular as possible for each individual user, and possibly set the defaults based on wherever the service or application is being used. Furthermore, you'll notice that I referred to the Satoshi as a satobitcoin (sBTC). Why? Well, let's be real. Does anyone honestly think that a "satoshi" is going to be widely accepted around the globe if Bitcoin grows to the level that we are all hoping that it does. My money is on no. It's a nice gesture, but I just cannot see it being widely adopted in the long run. Nanobitcoins have a nice ring to them, but that would require Bitcoins to be broken down to the ninth decimal place, rather than the eighth that Satoshi originally intended. I personally think that the "satobit" has a much better sounding ring to it, is much less jarring and still pays tribute to Bitcoin's originator. Bitcoin, centibitcoin, millibitcoin, microbitcoin, satobitcoin
Microbit (uBTC(BTC)) US Dollar (USD) Conversion Table. uBTC(BTC) (Microbit) USD (US Dollar) 1 uBTC(BTC) 0.01295548 USD: 10 uBTC(BTC) 0.12955480 USD: 100 uBTC(BTC) 1.29554800 USD: 1,000 uBTC(BTC) 12.9554800 USD : 10,000 uBTC(BTC) 130 USD: 100,000 uBTC(BTC) 1,296 USD: 1,000,000 uBTC(BTC) 12,955 USD: 10,000,000 uBTC(BTC) 129,555 USD: 100,000,000 uBTC(BTC) 1,295,548 USD: News. The Bitcoin ... This Bitcoin and United States Dollar convertor is up to date with exchange rates from October ... 2020 from The International Monetary Fund. The BTC conversion factor has 15 significant digits. The USD conversion factor has 6 significant digits. BTC USD coinmill.com 0.00005 0.66 0.00010 1.31 0.00020 2.62 0.00050 6.55 0.00100 13.10 0.00200 26.20 0.00500 65.51 0.01000 131.01 0.02000 262.03 0 ... Instant free online tool for BTC to USD conversion or vice versa. The BTC [Bitcoin] to USD [United States Dollar] conversion table and conversion steps are also listed. Also, explore tools to convert BTC or USD to other currency units or learn more about currency conversions. UBTC [United Bitcoin] USD [US Dollar] 0.01 United Bitcoin = 0.007900 US Dollar: 0.1 United Bitcoin = 0.078997 US Dollar: 1 United Bitcoin = 0.789971 US Dollar: 2 United Bitcoin = 1.579942 US Dollar: 3 United Bitcoin = 2.369913 US Dollar: 5 United Bitcoin = 3.949856 US Dollar: 10 United Bitcoin = 7.899711 US Dollar: 20 United Bitcoin = 15.799423 US Dollar: 50 United Bitcoin = 39.498557 US ... Bitcoin Calculator. The CoinDesk Bitcoin Calculator tool allows you to convert any amount to and from bitcoin (up to six decimal places) and your preferred world currencies, with conversion rates ...
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