Ok, maybe metric isn’t the correct description, but you get the idea. Bitcoinity, one of the leading websites for pricing, charts, and statistics from bitcoin exchanges has begun to price in mBTC. Valued at 1/1000 of a bitcoin, using mBTC is the natural evolution pricing, as users deal with prices. The change conforms prices denominated in bitcoins to closer resemble that of fiat currencies. For example, a $5 beer would at 4.95 mBTC appears more normal than seeing it listed as 0.00495 BTC.
In an act of humor, but also that of reality, Bitcoinity plastered on its site in big lettering the words ‘Don’t Panic’.
Introducing NextV - The Full Scope Solution To Building Your Next Virtual EventGo to article >>
While some retail shops have already made the switch to mBTC pricing, Bitcoinity becomes the first major website (to my knowledge) to make the change. The morph to mBTC is a sign of optimism that prices will stay around the $1000 level and will keep one mBTC valued in the $1 range. Pricing in mBTC may also help gain new users to bitcoins, where the $1000 or price tag made it seem for many as too expensive.
What do you think, let us know in the comments?