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, so to speak.
For the users who absolutely refuse to go with the change, Bitcoinity is allowing them to switch back to BTC units via the Preferences menu in the upper-right of the chart page.
How do you feel about the change?