New Browser Extension Hopes to Make it Easy to Get Used to Using Bitcoin in Retail

2019-5-23 00:00

A new browser extension has just been launched that hopes to make it easier for people to start thinking in Bitcoin prices when they do their online shopping. The aptly titled “Get Used to Bitcoin” automatically converts prices at some of the planet’s biggest internet retailers and elsewhere to Bitcoin and displays a price in satoshis next to the equivalent amount expressed in dollar, euro, or other supported fiat currency.

One of the perceived issues with the notion of widespread adoption of Bitcoin is that people will struggle to deal with being asked to pay minute decimals for product. The browser extension seeks to address that by familiarising folks with using the smallest unit the currency instead.

Get Used to Bitcoin With Get Used to Bitcoin

In an effort to get more people thinking about using Bitcoin for real world purchases, a crypto asset enthusiast called Shaine Kennedy has created a browser extension that automatically converts prices at popular online retailers into their equivalents  in satoshis.

Okay folks, time to let the cat out of the bag. Today, I am very proud to introduce…

Get Used to Bitcoin, a real-time Bitcoin conversion browser extension for Google Chrome and Firefox. pic.twitter.com/2evMDosxyW

— Shaine Kennedy (@shaine_kennedy) May 21, 2019

The Get Used to Bitcoin extension works with both Google Chrome and Mozilla Firework and for now supports the US dollar, euro, yen, pound, ruble, won, and Australian dollar. According to the project’s website, there are plans to launch support for additional fiat currencies in the future too.

The software works by scanning web pages for any price values and converting them to a satoshi value that is displayed next to the fiat price. The rate used to convert is refreshed every 15 minutes.

We put the completely free extension to a brief test and found that it was incredibly easy to install, to activate, and to deactivate. It works all over the place too – in emails, websites, basically anywhere you see one of the supported currency’s symbols. It’s a simple but potentially powerful tool that could well accelerate Bitcoin adoption.

Long-time crypto enthusiast and Twitter user Beautyon states the following of the extension:

“Get Used to Bitcoin is a tool that could accelerate people’s understanding of Bitcoin as a way of paying, developing the ‘priced in Bitcoin’ mental model that needs to become the norm. A very clever idea!”

In case you don’t know what a satoshi is, it’s the smallest unit of a Bitcoin – or 0.00000001 BTC. It is named after the anonymous creator of the digital currency, Satoshi Nakamoto. The name was first coined back in 2010 by early Bitcoin enthusiast “ribuck”.

Although it is arguably better to price things in satoshis than using tiny decimals of a whole Bitcoin, for now, this will likely create almost the same mental barrier to entry for all those without major gripes with current payment services or the monetary policy of fiat currency itself. The fact that a dollar is worth around 12,000 sats will likely make understanding prices in sats far too confusing for all but the most determined.

For example, buying a new laptop for about $1,550 today will set you back about 19,357,000 sats. For a lot of people, such a large number is tough to comprehend. Hopefully, by the time a real-world Apple Store assistant has to make a similar quote in sats, each will be worth more than their current rate of $0.00008. This would make for prices the general public is more familiar with.

 

Related Reading: Crypto Adoption is Like Internet in 1990s With 50M+ Users, Massive Potential Left

Featured Image from Shutterstock.

The post New Browser Extension Hopes to Make it Easy to Get Used to Using Bitcoin in Retail appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66584.31 (-0.19%)
Объем 24H $17.097b
Изменеия 24h: -0.35 %, 7d: 8.57 %
Cегодня L: $66568.01 - H: $67668.16
Капитализация $1311.741b Rank 1
Цена в час новости $ 7641.97 (771.3%)

bitcoin used browser new hopes get extension

bitcoin used → Результатов: 126


Bitcoin is Criminals’ ‘Favorite’, Claims Blockchain Forensic; Used in 95% of Crypto Crimes

Bitcoin is the reigning champion of cryptocurrency criminals. That’s the conclusion of blockchain analysis firm Chainalysis, which discovered that bitcoin is used in 95% of crypto crimes. This finding isn’t surprising since bitcoin is by far the most popular and widely used of the 2,000 digital currencies around today.

2019-4-26 19:12


Фото:

Ripple Introduces XRP Ledger (rippled) Version 1.1.0, Buckles up for Future Regulations

Ripple has found itself in the center of huge controversy, the cryptocurrency regulation debate in the US hit Ripple, with claims that XRP is a security. While the company has consistently argued against it, there seems no denying that the standard Securities and Exchange Commission (SEC)’s definition when used in the crypto market, will hurt […] Ripple Introduces XRP Ledger (rippled) Version 1.

2018-9-18 08:49


Фото:

New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic.

2018-9-15 01:22


Berkeley Professor Questions Stablecoin Viability in Unflattering Op-Ed

University of Berkeley Professor Barry Eichengreen has taken a swipe at the viability of stablecoins in an op-ed published on Project Syndicate. The critique, entitled “The Stable-Coin Myth,” argues stablecoins are not automatically "viable" just because they are pegged to an asset, though Eichengreen does believe they have an advantage over "conventional cryptocurrencies" such as bitcoin which he says "is highly unstable" and "unattractive as units of account.

2018-9-13 18:07


Фото:

Cash, Not Crypto, Still King When It Comes to Funding Terrorists

One of the main arguments used by cryptocurrency critics is that digital currencies make it easier to finance terrorism. But, as they say, the truth is sometimes stranger than fiction. A defense expert recently told the US Congress that it is actually harder to finance terrorists using cryptos after citing that numerous attempts by terrorist […] Cash, Not Crypto, Still King When It Comes to Funding Terrorists was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-12 18:29


Tap Coin-Like App as a Panacea to Problems of Digital Advertisement Discussed at Advertising Week

Blockchain has become the hottest tech term used in recent times. Being primarily set up for the trading of cryptocurrencies such as Bitcoin, Ethereum and Ripple, blockchain technology holds the potential to deliver significant transformations and finally become a means of solving many modern day problems that exist industry-wide.

2018-9-11 22:39


Decred Price Analysis: Alterations to blockchain governance

Decred (DCR) provides an intriguing governance & network decision-making alternative to the clunky, informal systems used by traditional PoW powerhouses Bitcoin and Ethereum. The network's hashrate and transaction volumes have improved over the last six months, and despite bearish price movements DCR has not fallen as far from its all-time highs as the majority of other alt-coins

2018-9-9 21:33


Фото:

Blockchain Being Used to Save Lives Amidst Opioid Epidemic

A growing number of start-ups and larger companies have begun to experiment with blockchain’s utility for solving public health crises — like the opioid epidemic in the United States. Cryptocurrencies have had a testy relationship with some law enforcement figures in the United States, who see popular forms like Bitcoin as a scapegoat for an ongoing opioid crisis.

2018-9-8 23:00


Фото:

Washington State Utility Increases Power Rates for Bitcoin Mining

Due to Grant County’s lower power cost that comes from the local hydroelectric plant, many cryptocurrency mining operations have flocked to Washington state. However, their luck is bound to change as the Grant County Public Utility District (PUD) recently announced a rate hike for electricity used by cryptocurrency mining farms by as much as threefold, the International Business Times reported...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-7 15:00