What is A millibitcoin?

A name chosen by a controversial poll that did not include a majority of the Bitcoin development community, a millibitcoin refers to one-thousandth of a Bitcoin, or 0.001 BTC. Determined in May of 2011, millibitcoins where introduced at the same juncture as when the price of one Bitcoin breached $10 USD.

What is millibit (millibit)?

MilliBit was name chosen by popular vote in poll on the Bitcoin forum to represent the SI unit of 0.001 bitcoins (BTCs). The poll was announced on May 14, 2011 to come to an agreement of the most commonly used name. [1] With the market exchange rate nearing $10 USD per BTC, a name for the sub-BTC unit was needed.

What is a microbitcoin (MBTC)?

Millibitcoins are also referred to by the ticker symbol mBTC. A microbitcoin or ‘bit’ is one-millionth of a Bitcoin, or 0.000001BTC. Bitcoin developers have proposed that microbitcoins also be referred to as ‘bits’ when denoting either a one-millionth of a Bitcoin, or 100 satoshis. Microbitcoins are also referred to by the ticker symbol μBTC.

What is bitcoin & how does it work?

Bitcoin itself, as a unit of currency, refers to one whole unit within the Bitcoin network – analogous to the presence of one US Dollar within global markets.