Make "mBTC" Bitcoin's standard unit
0 have signed. Let’s get to 100!
With the value of 1 BTC now hitting thousands of dollars, I think 1 BTC being $6,000 is a massive psychological barrier for ordinary people. Many people do not even know that 1 BTC can be in smaller units and they tell me that they don't have $6,000 to invest.
So I call on coinmarketcap.com to use mBTC as the standard unit.
By making mBTC the standard unit in exchanges, two things could happen.
1. If 1 BTC is at $6,000, 1 mBTC is $6. Psychological barriers will be significantly lower for cryptocurrency beginners to enter the market.
2. It also educates people that 1 BTC is not the smallest unit of Bitcoin.
All major cryptocurrency news site should do the same. A good middle ground could be that they show both: BTC and mBTC.
Units of Bitcoin reference: https://en.bitcoin.it/wiki/Units
I'm one of those non-tech ordinary people who were fortunate to buy a couple of BTC last year. Nobody around me really knew it yet or they sort of had heard of it somewhere (probably because of Mt. Gox) but this year since summer, virtually everybody knows its existence yet they do not own a dollar worth of Bitcoin yet.
If we want them to go in, we should make Bitcoin look like "real" money at an affordable price. The entry is still hard enough i.e. make a wallet, purchase Bitcoin with credit card or via Bitcoin ATM, register on exchanges to trade and convert it back to cash and etc. etc. but there are logistical barriers that tech companies will solve very soon. By making mBTC the official unit, we remove the psychological barrier that is probably bigger than a logistic problem.
Today: Satoru is counting on you
Inoue Satoru needs your help with “https://coinmarketcap.com/: Make "mBTC" Bitcoin's standard unit”. Join Satoru and 31 supporters today.