mBTC as the universal denomination (debate)
Hello all! 1st post on reddit so thanks for listening!
The perception of the bitcoin community being able to agree on anything productive right now is less than stellar. I believe though fractured, it is much better than it receives credit for in the media and this would be a great opportunity to prove it.
I believe there is a psychological barrier right now for small investors feeling like they have missed the boat when $1000 USD only buys them a fraction of one coin.
It seems like now would be a good time for a "stock split" which might break down that barrier. It would make it more fun and accessible to a lot of people.
My proposal task for the community: First, agree on a new universal denomination. Second, set a date for the exchanges, wallets, stores etc to use the new unit by default.
mBTC makes more sense to me than uBTC, since it is closer in parity to most currencies and therefore easier to relate to. uBTC would be too drastic and confusing in my opinion.
I know it has been suggested before, but I think the timing for this debate has never been better. All factions of the community could use a topic to form consensus on that will improve bitcoin without changing bitcoin. The intention is to make inroads to all parties involved in bitcoin.
Thanks for your time
Posted Apr 26, 2017, 6:03 PM UTC