Bitcoin Trading with BTC or mBTC? Not All Users are Happy With BTCC New Proposal
The news that all major Chinese exchanges are planning to adopt a new primary unit for trading purposes has caused a commotion that may hinder the idea from taking off. The differences which center on the choice of Bitcoin unit that would be best suited for trading purposes may suffocate the suggestion being promoted by BTCC CEO Bobby Lee, who seems bent on pushing the idea further despite his being reminded that he had made a similar suggestion at a post-conference dinner in Berlin in 2014 but it didn’t get off the ground. In his reply, Lee states: According to Lee, who has started an....
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One issue this change could resolve is how most people assume they need to own a full bitcoin to become part of the ecosystem. A lot of things are changing in the world of bitcoin exchanges right now. Bobby Lee, CEO of BTCC, is contemplating a switch in trading units. To be more precise, he is asking the public’s opinion on trading in mBTC units moving forward. A rather strange idea, although his reasoning for this idea is quite solid. In his opinion, smaller bitcoin units should aid with the public perception of cryptocurrency. The latest idea by Bobby Lee is one that just might work. The....
As bitcoin’s price has gained quite a bit of value over the past few months, many bitcoin proponents have been asking the community to start thinking about using mBTC denominations rather than using decimal points. People proposing this idea believe it’s the right time to start referring to bitcoin percentages below one bitcoin in this fashion, to make....
Popular bitcoin charting and monitoring service Bitcoinity has switched the default bitcoin unit to mBTC today. A rather large banner with the text "Don't panic" greets users noting of the switch, along with the simple legend: 1,000 mBTC = 1 BTC and 1 mBTC = 0.001 BTC. The move comes as the price per whole bitcoin has reached four digits, which many argue has scared away newcomers to the virtual currency with the mindset they could only buy bitcoins as whole units and not in partial. The theory is that using mBTC will make the price of bitcoin a bit more manageable and easier to swallow,....
Four major Chinese Bitcoin exchanges including BTCC, Huobi, OKCoin and Yunbi have officially begun to charge trading fees to all users, traders and investors, as of Jan. 24, 2017. BTCC, the world’s oldest and largest Bitcoin exchange, first announced its plans to implement trading fees on Jan. 20. OKCoin, Yunbi and Huobi shortly followed BTCC, announcing their official decisions to charge trading fees to Chinese users within 24 hours since the announcement of BTCC. Why did Bitcoin exchanges introduce fees? All three Bitcoin exchanges that were previously inspected by the People’s Bank of....
"It's both a liabilty and an opportunity." At least that's how BTCC CEO Bobby Lee describes his Shanghai-based bitcoin exchange startup's affiliation with its domestic market. Formerly known as BTC China, BTCC markets itself as the "world's longest-running bitcoin exchange", but it's now taking steps to expand its customer base internationally. BTCC announced today that it is launching a new service BTCC USD Exchange, one that boasts a new user-interface and that is operated by a separate legal entity. Run out of Hong Kong, the US dollar trading arm will complement....